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Level 3 Communications (NASDAQ: LVLT), the IP telecommunications company, got hit pretty good yesterday due to the market's broad-based sell-off and its coming up short on revenue.Management cited integration issues due to its seven recently completed acquisitions as the prime reason. The sales backlog is increasing but it is slow bringing customers on to its network. Level 3 will be a show-me stock for the next few quarters as management will have to hit their numbers to regain investors' confidence. October is expected to be another weak quarter, but business is expected to ramp in 4Q.
However, with what looks like a weak or a flat opening this morning in combination with yesterday's sell off, a quick recoil is possible from its oversold condition for traders to make a nice profit on.
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Reader Comments (Page 1 of 1)
8-07-2007 @ 11:24AM
telliertome said...
The trading in this stock is great, but long term speculators are still waiting for Cramer's call to double to come true - http://www.stocktagger.com/2007/08/jim-cramer-accuracy-of-level-3.html