NQ Mobile Spikes After NationSky Payout Reveal

Shares of NQ Mobile Inc (ADR) NQ spiked higher by nearly 4 percent on Tuesday after the company issued an update on its planned NationSky divestment. NQ Mobile announced in August it has entered into an agreement to sell all of its interest in NationSky to Hou Shuli, a founder and senior management member of NationSky, for $80 million in cash. NQ Mobile confirmed on Tuesday its divestment is complete and the company "has now received 100 percent of the overall purchase price in cash, and all parties are now working to formally close this divestment fully." Shares traded recently at $3.81, up 3.5 percent.