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What: Shares of Tarena International, Inc. (NASDAQ:TEDU) were moving up as much 11% today after the company signed a strategic partnership agreement with Red Hat China.
So what: The provider of IT classes in China said the agreement made it an authorized Red Hat training and certification partner in China. CEO Shaoyun Han said the partnership would allow students to "receive world class network engineering training and earn the official validation from the industry leader."
Now what: Tarena's gains today come after the stock fell 10% yesterday after NQ Mobile shares dropped 30% when the company delayed filing its annual report for the second time. Investors were concerned as Tarena CFO Suhai Ji was formerly the CFO at NQ. While the news is unrelated to today's announcement -- which is a definite positive for Tarena as it builds out its partnerships and course offerings and adds legitimacy to Tarena, as Red Hat is a respected company -- it's a reminder that Tarena shares have been highly volatile since its IPO in March and that today's gains could easily disappear. Look out for the company's earnings report on Monday, its first as a publicly traded company, which should move its stock.
Jeremy Bowman has no position in any stocks mentioned, and neither does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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