Volume Spike Investor

Level 3 Communications Inc. (NASDAQ: LVLT) is trading down sharply this morning after this week’s earnings.  The culprit is a downgrade from Goldman Sachs… down to a SELL from an already cautious “Neutral” rating.  Level 3 is off 9.9% at $1.28 on almost 8 million shares as of 10:36 AM EST.  This one trades an average of about 14 million shares per day, so watch for this one to potentially have double its average volume today.  This is also on the heels of a $0.20 drop from $1.62 to $1.42 yesterday, and that was on over 26 million shares after the earnings report.  We may very well see that sort of volume again today. -Jon Ogg