Zayo shares soar 8.6% premarket on news management reviewing strategic options
Zayo Group Holdings Inc. shares soared 8.6% in premarket trade Wednesday, after the communications infrastructure company postponed an analyst day and said its management is evaluating its strategic options. The Boulder, Colorado-based company, which has fiber networks in North America and Europe, said it will continue to focus on its communications infrastructure business, which is generating positive operating cash flow, EBITDA margins and investing in network expansions. "Whether public or private, this will remain Zayo's focus and we will continue to expand the depth and breadth of our fiber infrastructure," the company said in a statement. Shares have fallen 32.6% in the last 12 months, while the S&P 500 has gained 2.3%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.