NEW YORK (TheStreet) -- Shares of NQ Mobile (NQ) , which sells mobile Internet services in China, soared by 38.6% on Thursday, closing at $4.20 on the New York Stock Exchange.

The company, headquartered in Beijing, provides mobile security and cloud services. But the company's shares have a long way to recover to higher ground. NQ Mobile's most recent high of $6.33 was on June 15. The company's shares traded at $9.46 on Oct. 27, 2014.

On Wednesday the company announced a 25% increase in quarterly net revenue for the period ending June 30, compared with the same three months of 2014. NQ Mobile also said it had trimmed its quarterly loss. In addition, the company said it had reached agreements to sell two business units, NationSky and FL Mobile.

Vonage Holdings (VG) - Get Vonage Holdings Corp. Report stock closed at $5.66 Thursday, a decline of 3.58%. The company, based in Holmdel, N.J., sells residential home telephone "replacement" services, such as voice mail and call waiting. The company also sells mobile phone services.

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Oppenheimer recently included Vonage as among the best telecom stocks to buy during periods of volatile financial markets. Last week Vonage announced it would buy iCore Networks to expand its business communications business. There was no apparent reason for Vonage's stock decline Thursday.

Shares of telecom giant AT&T (T) - Get AT&T Inc. Report jumped by 2.3% Thursday, closing at $33.44.

The Dallas-based company fired back against Sprint (S) - Get SENTINELONE, INC. Report after the rival carrier launched a new promotion targeting customers of DirecTV, which AT&T owns, according to Investor's Business Daily.

Shares of Sprint, headquartered in Overland Park, Kans., closed Thursday at $5.07, a gain of 5.85%.

This article is commentary by an independent contributor. At the time of publication, the author held no positions in the stocks mentioned.