Level 3 Heads Down (LVLT)

Posted in pre-market 
October 28th, 2009

Level 3 Communications, Inc. (NASDAQ: LVLT) is trading lower this morning after the wholesale broadband and bandwidth communications provider posted revenue of $916 million, down from $1.07 billion a year ago and down from $942 million for the second quarter 2009.  The net loss was $170 million, or ($0.10) per share.  Thomson Reuters had estimates of -$0.10 EPS and $926.25 million in revenues.  Teh company did claim to generate positive Free Cash Flow during the quarter.  At 8:31 AM EST we have seen over 200,000 shares trade hands and the stock is down 5% at $1.29.  Be advised that this is under the 50-day moving average and this one has a huge short interest which could cause an added amount of volatility in either direction.  -JON OGG

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