NEW YORK (TheStreet) -- The market surge Wednesday swept up telecom stocks along with other industries.
Shares of Evine Live (EVLV) increased nearly 14% after the Home Shopping Channel reported better-than-expected second-quarter earnings. The Pairie Eden, Minn.-based firm finished Wednesday trading up 27 cents a share to $2.23.
The gains came as the Dow Jones Industrials and S&P 500 indexes saw their biggest one-day improvement since November 2011. Gainers outnumbered decliners on the Nasdaq by a three to one margin as investors seemed to relax after six consecutive days of dramatic losses.
Markets have been rocked concerns over China's economic problems and global economic uncertainty.
Major mobile service providers Verizon (VZ - Get Report), AT&T (T - Get Report), T-Mobile (TMUS - Get Report) and Sprint (S - Get Report) also registered solid gains after seeing their shares fall in recent days. Verizon rose nearly 4%, finishing at $45.16.
Evine Live's gains after its earnings suggested that a revised strategy was paying off. Last year, the company said that it would look to diversify its offerings, placing greater emphasis on health and beauty products in lieu of watches. The company had relied on watches and jewelry for about 40% of its sales.
The company's CEO Mark Bozek said the company's "more balanced approach" to its "airtime mix" had allowed new product lines to build momentum.
Bozek assumed his role last year after activist investors won a proxy fight against the previous management. He changed the name to Evine Live from Value Vision Media and rebranded the channel.
Earlier this month, Partner Communications reported that profits during its second quarter plummeted 80% and that its subscriber base was down 6%.
The company announced in June that it had agreed to terms to end a licensing agreement with the French mobile phone operator Orange and strike a new arrangement. Partner pays a fee to use the Orange brand name in Israel.
Under the new framework, Partner has already received a payment of 15 million euros. Both companies have options to terminate the agreement over the next two years.
The new agreement came after a public row over comments by Orange CEO Stephane Richard that seemed to criticize Israeli settlements in Palestinian territory. Richard later apologized to Israeli Prime Minister Bemjamin Netanyahu.