NQ Mobile Inc., the Chinese mobile- services provider that Muddy Waters LLC accused of inflating revenue, posted profit that beat estimates as sales of game software rose and said that management will buy $3 million worth of shares.
NQ Mobile Inc., the Chinese mobile- services provider accused of inflating revenue, said it plans to expand its customer base as it rejected fraud allegations from short-seller Carson Block’s Muddy Waters LLC.
U.S. stocks rose, trimming the biggest weekly drop since June in the Standard & Poor’s 500 Index, as data showing consumer confidence climbed to a five- year high offset concern about fiscal cliff negotiations.
U.S. stocks rose, reversing losses and sending the Standard & Poor’s 500 Index to the highest level since June 2008, after the unemployment rate unexpectedly dropped and more companies beat earnings estimates.
Cablevision Systems Corp. is now the cheapest U.S. cable or satellite-television provider for potential acquirers from Time Warner Cable Inc. to Comcast Corp. following the resignation of its chief operating officer.
U.S. stocks erased losses amid optimism European leaders will do more to halt contagion from the region’s debt crisis. The euro pared its drop after sinking to an almost two-year low and U.S. Treasuries trimmed gains. Oil closed below $90 a barrel for the first time since October.