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Update: Optimum Shares Gain Intraday After $6 Million Network Investment

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(Updates with stock move in the headline, first and second paragraph.)

Optimum Communications (OPTU) shares gained as much as 7.8% in intraday trading on Friday after the company said it has invested $6 million to strengthen its network in Lubbock, Texas.

The stock was about 0.5% lower in afternoon trading amid a broadly weaker market.

The company said it built about 100-mile fiber ring to power the backbone of its local network as part of the investment.

Price: $1.02, Change: $-0.01, Percent Change: -0.49%

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