Verizon Communications

(VZ) - Get Report

was up 0.9% in late afternoon after it canceled its merger agreement with

NorthPoint Communications

due to NorthPoint's recent difficulties. NorthPoint was halted with the stock down 4.5%. The two companies

agreed Aug. 7 to join their DSL businesses. But earlier this month, NorthPoint, an Internet-access company, restated third-quarter results, saying some customers may not be able to pay their bills.