Forecast Lifts Qiao Xing

Qiao Xing Universal Telephone (XING Quote) soared as much as 23% Thursday after the China-based cell-phone maker issued positive guidance for current quarter and full year.

The company said that, based on its strong performance so far this year, it expects to book "record" earnings for all of 2007. For the fourth quarter in particular, sales from its COSUN-branded phones should jump about 45% vs. last year and roughly 20% sequentially.

Last month, Qiao Xing had merely said that COSUN's top line will probably "start a climb" in the second half due to "significant improvements" in R&D and other areas. ...