NQ Mobile Flat Despite Posting Better Than Expected Earnings

NQ Mobile

shares are unchanged at $3.95 in Thursday's session. Despite posting better than expected earnings ($0.03 vs Est. $0.02) and revenues ($89.7M vs. Est. $83M) it has been unable to mount much of a rally. Also, the company forecasted Q1 sales of $85M-$86M and FY15 Sales $450M-$455M). In fact, the issue is way off the highs made during the premarket session at $4.50. That level coincided with a trio of highs at the $4.45 level in early January. After a higher open (Wednesday's close of $3.95 vs. Thursday's open of $4.10, it rallied to $4.17 before reversing course. The ensuing decline found support at $3.80 and it has been struggling to reclaim the $4.00. The current low coincides with the lows from Tuesday's ($3.79) and Wednesday's ($3.82) sessions.