Virgin Mobile USA, Inc. was among major gainers in US markets on Wednesday. The stock opened higher and touched an intraday high of $5.18 before closing the day at $4.15. The trading volume was 1.76 million compared to 0.3 million average trading volume. The stock has touched a 52-week high of $16.63 and a low of $1.9.

The stock price has jumped before the earnings announcement. Better-than-expected results from other companies from the same sector have increased investor interest in Virgin Mobile USA. In an official statement, New York Stock Exchange has asked Virgin Mobile USA Inc. to issue a statement explaining the surge in stock price on Wednesday.

However, the company declined to comment on market speculation and the official statement said that there is no unusual development.

Bear Stearns recently upgraded their rating for the stock. The company had issued shares at $15 to retail investors in October last year.
New Jersey based Virgin Mobile USA will announce the first quarter results after market close on Monday, May 5, 2008.

Virgin Mobile USA, Inc., through its operating company Virgin Mobile USA, L.P., offers more than 5 million customers control, flexibility and choice in wireless service, rich data content and innovative products without annual contracts.