Shares of Sprint Corp. (S) - Get Report rocketed 70% in after-hours trade Monday, following a published report that the company's pending merger with T-Mobile US (TMUS) - Get Report is likely to be approved by a federal judge.
A report from the Wall Street Journal late Monday said the court ruling could come Tuesday.
Sprint stock ended the regular session Monday down 2.64% at $4.80, but shot up almost 70% to $8.10 in after-hours trading. T-Mobile shares added 8.25% after the bell.
Sprint said when it posted its quarterly earnings Jan. 27 that it was optimistic about completing the remaining regulatory steps in its long-delayed $26 billion merger with T-Mobile U.S. Sprint posted a narrower-than-expected third quarter loss.