NQ Mobile Stock Soaring on Deal to Divest FL Business, Sell Showself Unit

Shares of China's NQ Mobile (NQ) were gaining by 6.53% to $4.08 on Thursday morning, after the global provider of mobile Internet services announced that it has entered into a deal to complete the divestment of the FL Mobile business and for the sale of its Showself's Live Social Video unit.

As part of the deal Tsinghua Tongfang affiliate Tongfang Investment Fund Series SPC will acquire 63% equity interest in FL Mobile, and 65% equity interest in Showself.

More from Stocks

Trump, Microsoft, General Electric and Chick-fil-A - 5 Things You Must Know

Trump, Microsoft, General Electric and Chick-fil-A - 5 Things You Must Know

Stocks Weaken as Trump's Fed Rate Comments Open New Front in Global Trade War

Stocks Weaken as Trump's Fed Rate Comments Open New Front in Global Trade War

Nucor Shares Retreat Despite Nearly Doubling Q2 Earnings

Nucor Shares Retreat Despite Nearly Doubling Q2 Earnings

Microsoft Climbs After-Hours on Earnings Beat; Guidance to Be Announced on Call

Microsoft Climbs After-Hours on Earnings Beat; Guidance to Be Announced on Call

Dow Falls, Breaking 5-Day Winning Streak on Beige Book Trade-War Worries

Dow Falls, Breaking 5-Day Winning Streak on Beige Book Trade-War Worries