Sprint Nextel Corp., Motorola Inc. and Nokia Corp. led telecommunications stocks broadly higher in Wednesday trades as the U.S. market forged ahead.
Stocks got a boost from Intel Corp., the chipmaking giant. The company reported better-than-expected results, though sales still fell sharply from the year-ago quarter and Intel reported a net loss.
In early action, Sprint climbed 3%, while Motorola and Nokia each gained 4%.
AT&T Inc. and Verizon Communications Inc. also rose about 1% each.