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Sunit Paytel, executive vice president and CFO of Level 3 said, "We continue to expect sequential revenue growth in Core Network Services revenue for the rest of 2011 and low double-digit Consolidated Adjusted EBITDA growth in 201
Level 3 (NASDAQ:LVLT) reported Q2 EPS loss of $0.09. Revenues for the quarter rose 2.6% year-over-year to $932.0 million, missing the consensus estimate of $937.42.
The bank cited Level 3's acquisition of Global Crossing, with upside to management's synergy outlook, lowered leverage for the company, and the unlikelihood of a competing bid.
Level 3 Communications is currently above its 50-day moving average (MA) of $1.36 and above its 200-day of $1.12.
UBS upgraded Level 3 Communications (NASDAQ:LVLT) to neutral from sell, increasing its price target for the company to $1.60 from $0.80 per share.
Technology shares are down in mid-day trading but deal news is providing some support to the sector. In mid-day news, shares of Sony Corp. (SNE) are down in after the consumer electronics maker cut European prices for its PlayStat
Level 3 (LVLT) confirmed its previously issued expectation that for the fourth quarter 2010, the company continues to expect Core Network Services revenue and Consolidated Adjusted EBITDA to increase in the fourth quarter compared
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From FNNO.com, this is the Financial News Network. I’m Cleo
Stiller-Farrell and this is your Midweek Market Wrap Up. The British
Bankers’ Association, which has the supervisory role of setting the
influential Libor rates, announced that it would be willing to give up
its...
The Wall Street Journal reports that home prices showed their best year-to-date gains since 2005, up 5.9% through July, signaling the housing market's steady march toward recovery. Also from the Wall Street Journal, IBM (IBM) will increase its efforts to sell so-called cloud computing services...
CEO Marissa Mayer is bringing in some more new blood to Yahoo!, tapping Ken Goldman as the company's new Chief Financial Officer. Goldman's appointment will take effect on October 22nd.
Goldman served as CFO at his most recent employer, Fortinet, having worked at Siebel Systems, Sybase,...
