Sprint Nextel Corp. (S) Gains 6.45% In Early Trading

Sprint Nextel Corp (NYSE: S) soared more than 6.45% Tuesday morning after a high level executive said that Sprint Nextel Corp (S) plans to cut debt faster and hinted that quarterly revenue could grow in 2010 for the first time in four years. The stock breached above its 50 day MA of $3.48 to show signs of moving into a bullish zone.

Sprint Nextel Corp. (S), a company which operates in the telecom area, has also shown signs of recovery as a majority of stocks from the telecom and networking sector were trading strong on Tuesday. Sprint Nextel Corp. (S) now faces its next resistance at a higher level of $3.97.