Tech Winners & Losers: Sprint

SEATTLE -- Shares of telecommunications companies soared Monday as the broader market rallied following the government's plan to bail out Citigroup (C Quote).

The government announced on Sunday it would invest $20 billion in Citigroup and guarantee $306 billion in risky assets.

"Riskier (telecom) names have gotten beaten down more so than most of the other telecom names over the last several months," said Stifel Nicolaus analyst Christopher King in an interview. "Today, people are presumably more comfortable with risk."

All the major stock indices jumped more than 3% Monday afternoon. King said he would expect riskier names like Sprint (S Quote), Qwest (Q Quote) and Clearwire (CLWR Quote) to outperform the market. ...