Level Three Communications Inc (LVLT): Today's Featured Telecommunications Loser
Level three Communications Inc (LVLT) pushed the Telecommunications industry lower today making it today's featured Telecommunications loser. The industry as a whole closed the day up 1.7%. By the end of trading, Level three Communications Inc fell $2.14 (-8.4%) to $23.25 on heavy volume. Throughout the day, 3.7 million shares of Level three Communications Inc exchanged hands as compared to its average daily volume of two million shares. The stock ranged in price between $22.80-$25.75 after having opened the day at $25.68 as compared to the previous trading day's close of $25.39. Other company's within the Telecommunications industry that declined today were: Novatel Wireless Inc (NVTL), down 17.3%, Vonage Holdings Corporation (VG), down 15.7%, Powerwave Technologies Inc (PWAVD), down 13.7%, and NTELOS Holdings (NTLS), down 8.2%. Level three Communications, Inc. engages in the communications business in North America and Europe. Level three Communications Inc has a market cap of $3.2 billion and is part of the technology sector. Shares are up 72.7% year to date as of the close of trading on Tuesday. TheStreet Ratings rates Level three as a sell. The area that we feel has been the company's primary weakness has been its feeble growth in its earnings per share.
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