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Level 3 (LVLT) was up 20.5% in preopen Island trading after the company announced a multi-million dollar deal with Verizon (VZ) - Get Verizon Communications Inc. Report.

Level 3, a broadband infrastructure supplier, will host switching and networking equipment in its Gateway centers in Los Angeles and Miami for Verizon's Global Solutions unit.

The two centers will act as major hubs for Verizon's new global network, the company said.

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