Oppenheimer reports that stocks in the communications industry, specifically Sprint S and Leap LEAP performed well this week, in spite of a market decline.
Oppenheimer stated that “Communications sector stocks outperformed significantly, increasing by 0.7%. Sprint (+15%) and Leap (+11%) were the biggest gainers in the sector. Sprint's shares were helped by news stories linking it with a T-Mobile (DTEGY, $14.13, Not Rated) merger, while Leap's shares were assisted by a major shareholder's attempt to elect three new board members who would seek to "unlock" market value for Leap.”
Sprint closed at $5.00 per share on Friday and has a Perform Rating.
Leap closed at $13.22 per share on Friday and has a Perform Rating.
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