Why Shares of Orbital Energy Group Rocketed Higher Today
With markets bouncing back today after yesterday's declines, shares of Orbital Energy Group (NASDAQ: OEG) are soaring. Celebrating the news that the company has inked a deal with Charter Communications (NASDAQ: CHTR), investors sent the stock flying as much as 14% higher as of 3:12 p.m. EDT.
The deal that's driving the stock's rise today involves one of Orbital Energy Group's subsidiaries, Gibson Technical Services (GTS), the recipient of an award from Charter Communications. While GTS provides services related to various networks including wireless and in-building, it's the company's prowess in fiber networks that attracted attention from Charter Communications, which is enlisting GTS to provide about 8,600 miles of "full-service construction" across Louisiana, Alabama, and North Carolina.
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Source Fool.com
