NQ Mobile Shares Soar On Stock Buyback Announcement
Shares of NQ Mobile Inc (ADR) (NYSE: NQ) were trading sharply higher in Tuesday's premarket following news that the company has authorized an $80 million share buyback program.
This announcement comes a few days after NQ Mobile reported earnings and revenues that disappointed, with shares of NQ falling nearly 20 percent on the earnings miss.
Shares of NQ Mobile recently traded at $4.05, up 17 percent.
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