Telestone Tech. (TSTC) Spikes Higher Amid FCC Approval of WFDS(TM) Technology

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Telestone Tech (TSTC) Cuts FY11 Outlook on Refocused Spending by China Telecoms

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October 20, 2009 10:03 AM EDT

Telestone Technologies Corporation (Nasdaq: TSTC) announced earlier that its Wireless Fiber Distribution System (WFDS(TM)) passed all testing procedures of the U.S. Federal Communications Commission, including all of the existing 2G and 3G systems in the U.S.

Traders are cheering the news this morning, bidding shares of TSTC up sharply. The stock most recently traded at $9.70, up 14.4% from yesterdays' closing price.