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Neustar posts 5.5% gain following contract renewals

Apr. 06, 2015 4:34 PM ETNeuStar, Inc. (NSR-OLD) StockNSR-OLDBy: Eric Jhonsa, SA News Editor
  • An April 1 deadline for a consortium of U.S. carriers (known as NAPM) to provide a notice of non-renewal to Neustar (NYSE:NSR) for 7 regional contracts covering local number portability management has come and gone without a notice being given, Neustar has disclosed in an 8-K.
  • With no notice given, the contracts are set to extend for a year beyond their current June 30 expiration date, with unchanged deal terms.
  • Neustar rallied above $27 following the news. Shares are now up 25% since the company announced a $150M buyback to coincide with the FCC's (expected) decision to begin negotiations with Ericsson/Telcordia to serve as its next local phone number portability administrator (replacing Neustar).

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