Stock Watch: OmniSky Rises in First Trading Day

Wireless Internet company OmniSky Corp. (Nasdaq: OMNY) rose 5 41/64 to 17 41/64 Thursday, its first day of trading.

The company sold 9.1 million shares through underwriters led by Credit Suisse First Boston. The shares were priced at the upper end of the planned range, “a confirmation for investors that this deal was in demand,” said David Menlow, president of IPOFinancial.com.

OmniSky, based in Palo Alto, California, offers wireless Internet services with links to almost 1,000 data sources and content providers with sites specially modified for wireless users. Participating sites include CNBC, eBay, ESPN, E*Trade and Yahoo!.

OmniSky subscribers also have access to Web sites with content that has not been specially adapted for wireless devices.

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