Ericsson Shrs Rally On Verizon 4G Build Out

Ericsson (ERIC) shares are gaining ground on news that Verizon (VZ) has chosen the company as one of the lead vendors to build out its four-generation wireless network. Alcatel-Lucent (ALU) will be the other major equipment provider for the company’s 4G network, which uses a technology called Long-Term Evolution, or LTE. The Wall Street Journal story on the Verizon build out this morning notes that the companies that lost out on the work include Motorola (MOT) , Nokia Siemens Networks and Huawei . Cowen analyst Matthew Hoffman notes this morning that Verizon also named Starent Networks (STAR) as a packet core vendor, and that Nokia Siemens and Alcatel-Lucent were chosen as primary suppliers of an “IP Multi-Media Subsystem” network to  enable applications and services across Verizon’s fixed and mobile broadband networks. The value of the contracts was not disclosed. Hoffman says the Verizon contract “opens a significant new operator ... (link)