Level Three Communications Inc (LVLT): Today's Featured Technology Winner

Level three Communications ( LVLT) pushed the Technology sector higher today making it today's featured technology winner. The sector as a whole closed the day down 1.5%. By the end of trading, Level three Communications rose $1.23 (5.1%) to $25.49 on heavy volume. Throughout the day, 7.5 million shares of Level three Communications exchanged hands as compared to its average daily volume of 2.5 million shares. The stock ranged in a price between $24.33-$25.62 after having opened the day at $24.40 as compared to the previous trading day's close of $24.26. Other companies within the Technology sector that increased today were: VirnetX ( VHC), up 22.5%, Ellie Mae ( ELLI), up 20.4%, Atlantic Tele-Network ( ATNI), up 18.1%, and ION Geophysical Corporation ( IO), up 17%.

Level three Communications, Inc. engages in the communications business in North America and Europe. Level three Communications has a market cap of $5.02 billion and is part of the telecommunications industry. Shares are up 42.8% year to date as of the close of trading on Wednesday. Currently there are five analysts that rate Level three Communications a buy, no analysts rate it a sell, and seven rate it a hold.

TheStreet Ratings rates Level three Communications as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, notable return on equity and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, generally poor debt management and weak operating cash flow.

On the negative front, Mitek Systems ( MITK), down 56.2%, Novatel Wireless ( NVTL), down 24.9%, ValueClick ( VCLK), down 22.2%, and Callidus Software ( CALD), down 21.3%, were all losers within the technology sector with Yahoo ( YHOO) being today's technology sector loser.

For investors not wanting singular stock exposure, ETFs may be of interest. Investors who are bullish on the technology sector could consider Technology Select Sector SPDR ( XLK) while those bearish on the technology sector could consider ProShares Ultra Short Technology ( REW).
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