China Information Security jumps on new contract award
Shares of China Information Security Technology, Inc., (Nasdaq: CPBY) are gaining ground ahead of the opening bell after the Chinese software developer said Tuesday that it won a new contract to construct the Logistics Intelligent Surveillance Information System for the Shenzhen International Airport. The contract is valued at $2.1 million and is estimated to be completed in the fourth quarter of 2008.
Shares skidded 23%, or $2.16, to $7.45 in pre-market trading. For detailed price information and news stories on China Information, click CPBY.
