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Stock Market & Financial Investment News

News Breaks
April 11, 2014
11:51 EDTNQNQ Mobile sinks after EPS miss, disclosure of accounting error
Shares of China's NQ Mobile (NQ) are sinking after the company reported lower than expected fourth quarter earnings per share and said that it had identified an accounting error. NQ Mobile provides mobile Internet services focused on security, privacy and productivity. WHAT'S NEW: NQ Mobile reported fourth quarter EPS of 22c, excluding certain items, compared with analysts' consensus estimate of 32c. The company's revenue, however, came in slightly higher than expected, and it raised its full-year revenue guidance slightly. The company also disclosed that it had identified an overstatement relating to share-based compensation for the three month and nine month period ended last September 30. The overstatement was caused by calculation errors, the company stated. WHAT'S NOTABLE: Last October, short selling research firm Muddy Waters accused NQ Mobile of being "a massive fraud." NQ's largest customer is really itself, and it massively overstates its market share and user base, Muddy Waters alleged at the time. ANALYST REACTION: In a note to investors earlier today, Macquarie analyst Jiong Shao wrote that the company's fourth quarter results were "solid." The company has made new deals with organizations in the healthcare sector and its growing user base has enabled its ad revenue to surge, Shao stated. Deloitte should release the results of its independent audit of NQ on time, added Shao, who kept a $26 price target and Outperform rating on the stock. PRICE ACTION: In late morning trading, NQ Mobile tumbled $2.30, or 14.38%, to $13.69.
News For NQ From The Last 14 Days
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May 28, 2015
05:53 EDTNQStocks with implied volatility movement; NQ BRCM
Stocks with implied volatility movement; NQ Mobile (NQ) 116, Broadcom (BRCM) 59 according to iVolatility.
May 27, 2015
12:38 EDTNQOptions with increasing volume
Options with increasing volume: PG CONN NQ S JNPR MNST ANF
May 19, 2015
19:06 EDTNQOn The Fly: After Hours Movers
UP AFTER EARNINGS: Computer Sciences (CSC), up 5%... NQ Mobile (NQ), up 1.4%. ALSO HIGHER: Sarepta Therapeutics (SRPT), up 38.9% after announcing plans for rolling eteplirsen NDA... LendingClub (LC), up 2.8% after being upgraded to Overweight from Equal Weight at Morgan Stanley. DOWN AFTER EARNINGS: Keysight Technologies (KEYS), down 3.1%... Autodesk (ADSK), down 2.1%. ALSO LOWER: Cimarex Energy (XEC), down 4% after filing to sell 6M shares of common stock... Norwegian Cruise Line (NCLH), down 2.5% after filing to sell 20M ordinary shares for holders... Achillion Pharmaceuticals (ACHN), down 3.2% following collaboration for HCV with Janssen.
17:08 EDTNQNQ Mobile sees FY15 revenue $455M-$460M, one estimate $443M
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17:08 EDTNQNQ Mobile sees Q2 revenue $102M-$103M, one estimate $99.5M
Representing a 25.0%-26.2% year-over-year increase.
17:06 EDTNQNQ Mobile reports Q1 adjusted EPS 0c, one estimate 0c
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