Zoom Technology (ZOOM) Skyrockets Today on Acquisition News
Zoom Technology (NASDAQ: ZOOM) is up about 125% today as the company released its 2Q earnings and updated outlook. After the company completes the acquisition of Gold Lion, Zoom is expecting revenues of $150M in 2009 vs. $81M in 2008, and net income of $6M in 2009 vs. $2.8M in 2008.
The company is up close to 1800% since January.
ZOOM is trading up $5.14 to $9.18 (127%) on 87x normal volume in early afternoon trading.
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