Monday's Winners & Losers: Level 3
Updated from 4:41 p.m. EDT
Shares of Level 3 Communications (LVLT) sank 31 cents, or 14.2%, to $1.87 after company president and Chief Operating Officer Kevin O'Hara stepped down, effective immediately. Level 3 also terminated its previously disclosed search for a new CFO, saying incumbent Sunit Patel will continue in the role.
Shares of VMware (VMW) declined $3.94, or 7.7%, to $47.51, hitting a new 52-week low.
The stock is down nearly 40% since Jan. 28, when the company forecast growth of 50% for 2008, down from a 85% growth rate in 2007.
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