MARKET TALK: Itron Stock Jumps After Cisco Partnership Announced
September 01 2010 - 7:04PM
Dow Jones News
[Dow Jones] Shares of clean-technology company Itron Inc. (ITRI)
jump nearly 7% after the maker of advanced utility meters announces
agreement with Cisco Systems Inc. (CSCO) to develop a communication
platform for smart power grids. Itron will license Cisco's Internet
protocol technology and include it in its OpenWay meters to allow
wired and wireless communications among components of smart grids.
Shares of Itron closed 6.8% higher at $57.65, up 41 cents
after-hours; shares of Cisco up 3 cents after closing 1.4% higher
at $20.26. (cassandra.sweet@dowjones.com)
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