Midday Report: Sprint Slips on Loss; Energy Leads Market

Major oilers Exxon Mobil (XOM) and Chevron (CVX) pushed the Dow Jones Industrial Average higher in midday trading Tuesday. Energy stocks led markets after an oil worker strike in Brazil continued. The region is the ninth biggest oil producer in the world and contributes to current global oversupply. Sprint (S) tumbled after its second-quarter loss widened to 15 cents a share from a penny a year earlier. Revenue was 5% lower. However, wireless net additions did rise as promotional efforts paid off. Factory orders fell for a second straight month in September as a stronger dollar continued to weigh on manufacturing activity. Orders fell 1%, though that was narrower than the slump of just over 2% in August.