NEW YORK (TheStreet) -- Shares of Level 3 Communications (LVLT) are "not done" advancing TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio, said on CNBC's "Cramer's Stop Trading" segment.
The stock is up more thabn 10% Wednesday after the company reported quarterly results that exceeded analysts revenue and earnings forecasts.
The company is at last reporting positive cash flows, making its $7 billion net operating loss a "huge strategic asset," said CNBC's David Faber, the show's co-host.
Cramer said the stock has finally broke out and the high-speed Internet story is playing out.The company reported a big earnings beat, and "it can go higher," he concluded.
-- Written by Bret Kenwell in Petoskey, Mich. Follow @BretKenwell
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts