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InPhonic Buzzes Higher

Investors like its sales target.

InPhonic (INPC) shares jumped in early trading after the company says it trimmed its losses and raised sales guidance.

The Washington, D.C., online cell phone retailer late Monday posted a net loss of $4.8 million, compared with the $4.9 million a year ago. Looking ahead, the company said it expects revenue in the fourth quarter to be about $120 million. Analysts were looking for sales of $118 million, according to Reuters Research.

The mobile phone seller, which operates, has

recently attracted $100 million in financing from

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Goldman Sachs

(GS) - Get Goldman Sachs Group, Inc. Report

, a 14% stakeholder in the company.

InPhonic shares were up $1.27, or 14%, to $10.31 early Tuesday.