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Sprint (S) Stock Gains on Cost Cutting Plan

NEW YORK (TheStreet) -- Sprint Corp. (S) stock is increasing 2.54% to $4.85 in early morning trading on Monday, after the wireless carrier reveled plans to cut costs by 10%, or $2.5 billion, in fiscal 2016, a company spokesman told Reuters.

The expense reductions will be made through a variety of cost controls and layoffs, but further details were not revealed because the budget process is in early stages.

"We are leaving no stone unturned...