Sprint Nextel Corp. (S) Gains 8.5% By Mid-Day Trading

Sprint Nextel Corp. S was in limelight by mid-day trading on Monday as it gained over 8% in the first two hours of trading. Sprint Nextel scaled to higher levels after Goldman Sachs raised the telecoms company's stock to buy from neutral, saying it's about to move the needle on churn rate. The Goldman Sachs report points out that fewer subscribers are coming up for grabs and Sprint Nextel’s (S) gross share is picking up. Sprint Nextel (S) is likely to gain further as it has followed up its last Friday’s move closing above 20 day MA with a further upswing.