Sprint soars 10.12% on report that it's getting the iPhoneAugust 23, 2011: 5:26 PM ET
According to the Wall Street Journal, Apple will add a third U.S. carrier in mid-October
"Sprint Nextel Corp. will begin selling the iPhone 5 in mid-October, people familiar with the matter said, closing a huge hole in the No. 3 U.S. carrier's lineup and giving Apple Inc. another channel for selling its popular phone."
So begins the report in the Wall Street Journal -- Apple's (AAPL) current favorite backchannel outlet for releasing unofficial product news -- that sparked a rally in Sprint's (S) beleaguered shares. The stock soared $0.33 (10.12%) to close Tuesday at $3.59.
Apple also closed higher -- up $17.16 (4.81%) to $373.60 -- in a broad rally that pushed the Dow up nearly 3%.
According to the Journal, Sprint will sell both the forthcoming iPhone 5 and the existing iPhone 4 when the new device launches in mid-October.
Neither Sprint nor Apple could be reached for comment.