Sprint Corp. rose 14 percent Monday, the biggest increase in 19 months, as the stock rebounds from a decline in the middle of last week.
Sprint jumped to $3.87, the highest intraday price since July 20, in late morning trading.
The shares seesawed last week after the wireless carrier reported management changes and quarterly results. In addition, Masayoshi Son, chairman of Tokyo-based SoftBank Corp., Sprint’s majority owner, said that he was now confident in Sprint’s plans and has no intention to sell his stake.
Overland Park-based Sprint earlier Monday announced the expansion of its “Direct 2 You” house call service to Houston, Atlanta, Philadelphia and Boston.