Occam in the News
Occam shares soar on upgrade contract for FairPoint broadband network
CNNMoney.com
January 18, 2008
NEW YORK, Jan. 17, 2008 (Thomson Financial delivered by Newstex) -- Shares of Occam Networks Inc. (NASDAQ:OCNW) rose sharply on Thursday after the company said it was selected to upgrade FairPoint Communications Inc.'s (NYSE:FRP) New England broadband network.
Financial terms weren't disclosed.
The upgrade will occur once FairPoint's proposed acquisition of Verizon's (NYSE:VZC) (NYSE:VZ) 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.