Volume Spike Investor » LVLT

Level 3 Offering Fall-Out (LVLT)

247admin — Tue, 14 Sep 2010 13:10:56 +0000

Level 3 Communications Inc. (NASDAQ: LVLT) is getting clobbered, and much harder than what you might expect considering the history of this company.

Last night came an announcement from the company that it is offering $175 million in Convertible Senior Notes due 2016 in an underwritten offering, and it will give underwriters an option to purchase up to an additional $26,250,000 to cover over-allotments, if any.

BofA Merrill Lynch is listed as the sole book-running manager, Citi is the lead manager and Deutsche Bank Securities and Morgan Stanley are listed as co-managers.

The June 30 balance sheet showed some $443 million in cash and the company still lists over $6.223 billion in long-term debt. As far as a use of proceeds, that is for general corporate purposes including working capital, capital expenditures and the potential repurchase or redemption of its 5.25% Convertible Senior Notes due 2011 and other existing indebtedness from time to time. Level 3′s market cap is listed as $1.93 billion before the effects of any added dilution.

Shares are being hit by more than 11% at $1.03 on more than 800,000 shares and the 52-week trading range is $0.95 to $1.77.

JON C. OGG

Level 3 Heads Down (LVLT)

247admin — Wed, 28 Oct 2009 12:33:12 +0000

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

Price/Volume Alert: Level 3 Communications (LVLT)

247admin — Fri, 31 Jul 2009 14:38:42 +0000

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

After-Hours Price/Volume Alert: Level 3 (LVLT)

247admin — Wed, 17 Jun 2009 21:05:58 +0000

Level 3 Communications Inc. (NASDAQ: LVLT) is soaring in after-hours trading. The company disclosed a contract with an initial 20 year term and a minimum revenue target of $140 million over the first four years of the deal. Level 3 stock is up 10% at $1.43 as of 4:53 PM EST, and that is after closing down almost 8% at $1.30 in regular trading. -Mike Tarsala

Sudden Volume Alert: Level 3 Communications (LVLT, S)

247admin — Wed, 10 Jun 2009 18:43:11 +0000

Level 3 Communications Inc. (NASDAQ: LVLT) is trading up 7% at $1.21 in a sudden flurry of trading. The WSJ has reported that it is in preliminary talks with Sprint over a joint venture. As of 2:35 PM EST this one crossed into positive territory and has easily crossed over 140% of its average daily volume now. -Jon Ogg

Level 3 Hits Sub-$1.00… Again (LVLT)

247admin — Thu, 06 Nov 2008 15:09:19 +0000

Level 3 Communications (NASDAQ: LVLT) is truly sucking wind this morning. Shares are down 7% at $0.99 on over 6 million shares at 10:09 AM ESt. The average daily volume is almost 28 million shares.

It seems that we aren’t alone in our concerns about its recent filing and abilities to raise cash. Shares gave back almost half of the entire fighting-back gains yesterday.

Jon C. Ogg
November 6, 2008

Short Interest Spike in Key Tech Stocks (INTC, CSCO, LVLT, DELL, YHOO)

247admin — Fri, 11 Jul 2008 13:05:39 +0000

The NASDAQ Short Interest is out again and we are seeing some trends cropping up in many key tech names shares sold short in a number of tech and telecom companies rose from the prior June report:

The short interest in Intel (NASDAQ: INTC) was up 27.4 million to 89.1 million.
The short interest in Cisco Systems (NASDAQ: CSCO) was higher by 7.7 million to 72.6 million.
The short interest in Level 3 (NASDAQ: LVLT) rose 7.6 million to 244.2 million.
The short interest in Dell (NASDAQ: DELL) was up 7.4 million to 67.9 million.
The short interest in Yahoo! (NASDAQ: YHOO) was up 5.7 million to 53.2 million.

There was actually a noticeable drop in both Microsoft (NASDAQ:MSFT) and in Google (NASDAQ:GOOG) so it isn’t as though there are only sellers.

JON OGG

July 11, 2008

Price & Volume Alert: Level 3 (LVLT)

247admin — Wed, 04 Jun 2008 14:58:34 +0000

Level 3 Communications (NASDAQ: LVLT) has been a head-scratcher yesterday and today. Yesterday we noticed a 2-times volume day with an 8% rise. Now this morning we have seen a sharp move with an 8% gain to $4.04 in an hour and 15 minutes of trading volume. At 13 million shares traded so far, that is more than half of a day’s normal trading volume.

At the end of April this was under $3.00 and it was under $2.00 at the end of March. This is also the first time the stock has seen north of $4.00 since October 2007.

The company presented data yesterday at the Oppenheimer Annual Communications & Technology Conference and you can see their presentation at this link.

Jon Ogg
June 4, 2008