LoJack stock rises sharply on expansion plans

LoJack Corp. shares rose sharply today after regulators gave approval for the Westwood company to use its national wireless system to track more than just stolen vehicles.

LoJack shares jumped 44 cents, or 6.1 percent, to $7.67 in afternoon trading. In the past year, the stock has ranged between $5.42 and $20.25 per share.

The company said the Federal Communications Commission granted a 2005 petition that will enable it to expand its tracking services to areas such as missing people at risk, individuals of interest to law enforcement, lost or stolen cargo, and hazardous materials.

The FCC also approved certain requests that will allow the company to comply with an FCC mandate to switch its network from wideband to narrowband, which it expects to do by 2019.
(AP)