Spreadtrum Communications (SPRD +4.7%) moves up after announcing a $50M buyback of its ADR's,...

|About: Spreadtrum Communications, ... (SPRD)|By:, SA News Editor

Spreadtrum Communications (SPRD +4.7%) moves up after announcing a $50M buyback of its ADR's, coming on the heels of another repurchase plan unveiled earlier this year. The company says it will fund the buyback with cash on hand.