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Why NQ Mobile Shares Jumped

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What: Shares of NQ Mobile (NYSE: NQ  ) jumped by as much as 21% today after the company scored a deal to provide services to America Movil (NYSE: AMX  ) customers.

So what: The mobile services company said it will start offering its flagship security products, including NQ Mobile Security, NQ Mobile Vault, and NQ Family Guardian, to America Movil's broad subscriber base, which counts 262 million subscribers throughout 18 countries. CEO Omar Khan said it was important for consumers in Mexico and Latin America to be aware of the mobile threats that they face in today's environment.

Now what: NQ Mobile's security offerings will be actively promoted and sold by Telcel, the Mexican carrier that is America Movil's largest. Other brands under America Movil's umbrella that will soon get NQ Mobile products include Claro as the pair expand into additional countries in the region. In a Bloomberg report, Oppenheimer analyst Andy Yeung said the deal would open up new revenue sources for the company, as revenue has historically been generated primarily from app downloads and OEMs. Piper Jaffray analyst Mark Murphy noted that the deal is the biggest international partnership in NQ's history.

Interested in more info on NQ Mobile? Add it to your watchlist by clicking here.

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Related Tickers

9/28/2016 9:35 AM
NQ $4.07 Up +0.05 +1.24%
NQ Mobile CAPS Rating: *
AMX $11.39 Up +0.02 +0.18%
America Movil CAPS Rating: ***