Monday's Winners & Losers: Level 3

Shares sink 14.2% after the COO resigns.
Author:
Publish date:

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) - Get Report

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.

VMware has been battling increased competition from companies such as

Microsoft

(MSFT) - Get Report

and

Citrix

(CTXS) - Get Report

.

Shares of the Boston-based economic, financial and management consulting company

CRA International

(CRAI) - Get Report

plummeted 40% on Friday evening's first-quarter earnings forecast. CRA expects earnings per share between 26 cents and 28 cents on revenue of $86 million. Analysts polled by Thomson Financial are looking for 58 cents a share on revenue of $92.5 million. This morning, Stifel Nicolaus downgraded the stock to hold from buy.

Houston, Texas'

ExpressJet

(XJT)

, which operates as the Continental Express airline, saw shares tumble 15.3% to $1.89 on fourth-quarter earnings. Excluding charges, the company reported a loss of $27.6 million, or 52 cents a share, vs. a profit of $22.8 million, or 39 cents a share, in 2006. The Street was looking for a loss of 30 cents a share.

Google

(GOOG) - Get Report

fell $19.73, or 4.6%, to $413.62, hitting a new 52-week low.

Other winners and losers also included

Alesco

(AFN)

AFN (+16.8%),

Art Tech Group

(ARTG)

ARTG (+13.5%) and

Thornburg Mortgage

(TMA)

(-60.3%).

This article was written by a staff member of TheStreet.com.