Occam in the News
Occam shares soar on upgrade contract for FairPoint broadband network
By Ryan Vlastelica, Forbes
January 17, 2008
NEW YORK (Thomson Financial) - Shares of Occam Networks Inc. rose sharply on Thursday after the company said it was selected to upgrade FairPoint Communications Inc.'s New England broadband network.
Financial terms weren't disclosed.
The upgrade will occur once FairPoint's proposed acquisition of Verizon (nyse: VZ - news - people )'s Vermont, Maine and New Hampshire wireline business closes.
Shares of FairPoint rose 1.2% to $13.33 on Thursday.
Shares of Verizon fell 1.7% to $41.61 on Thursday.
Shares of Occam, a Santa Barbara, Calif.-based broadband company, skyrocketed 34% to $4.14 on Thursday on a volume of 117,892 shares, above the 30-day average volume of 80,459 shares.