Emma Asma Cornwall
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Emma Asma Cornwall in Gainers & Losers,

Is it right time to buy Sprint shares?

Sprint announced plans to cut fiscal 2016 expenses by $2.5B, through job cuts and cost controls.

"We are leaving no stone unturned and looking at all areas," company spokesman Dave Tovar said.

Estimated cost savings for Sprint would be around 10% of its annual operating costs of $26B.

Cutting costs is good, investors just love it. And technically speaking, there is some kind of ascending triangle, which could be a bullish pattern. So is it time to go long?