BOSTON (Thomson Financial) - Shares of Qiao Xing Universal Telephone Inc.
rallied on heavy volume Thursday after the China-based manufacturer of
telecommunications products said it expects "positive" net results for the
fourth quarter of 2007.
The stock was up 21% at $9.20 on volume of over 1 million shares. The 30-day
average volume is 581,758 shares. The stock reached a high of $9.38 in intraday
trading, the highest price seen since Nov. 19.
Qiao Xing Universal said major indicators of financial performance for the
fiscal year of 2007 are expected "to reach a record high."
Casey Logan
cl/tk1
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