Coral Wireless will use Nortel's wireless infrastructure, which is designed to "optimize network efficiency and enable superior voice quality." Nortel's technology also will support delivery of advanced, high-speed data services like Web browsing, streaming audio and video, and multimedia messaging to nearly 900,000 potential subscribers on O'ahu. Coral Wireless plans to offer unlimited local and long distance calling for less than $50 per month, with additional voice and data features.

Research firm keeps 'neutral' rating for Cyanotech

Dutton Associates, an independent investment research firm, said today it is maintaining its neutral rating for Cyanotech Corp., with a price target of $1.25 for the company's stock.

Cyanotech shares closed down 2 cents at $1.01 today on the Nasdaq market. Cyanotech earlier this month reported net income of $153,000 for the three months ending June 30, up 35 percent from $113,000 a year earlier. The Big Island company, which produces high-end nutritional products from micro algae, said its per-share income was flat at 1 cent. The results came on sales of about $3 million, up 12 percent from the year-earlier quarter's $2.7 million.