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Stock Market & Financial Investment News

News Breaks
June 18, 2014
09:51 EDTTWTC, LVLTFitch affirms Level 3's IDR at B+ following acquisition of tw telecom
Fitch Ratings has affirmed the 'B+' Issuer Default Rating assigned to Level 3 Communications (LVLT) and its wholly owned subsidiary Level 3 Financing. In addition, Fitch has affirmed the specific issue ratings assigned to LVLT and Level 3 Financing. The Rating Outlook remains Stable. Approximately $8.4B of LVLT's consolidated debt as of March 31, 2014 is affected by Fitch's actions. Fitch's action follows LVLT's announcement that it has agreed to acquire tw Telecom (TWTC) in a cash and stock transaction valued at approximately $5.7B.
News For LVLT;TWTC From The Last 14 Days
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July 30, 2015
08:42 EDTLVLTLevel 3 weakness a buying opportunity, says Cowen
Cowen views weakness in Level 3 as a buying opportunity, as it believes the company's business remains very much intact despite weakness in its North American enterprise segment. Cowen reiterated its Outperform rating and raised its price target to $65 from $62 on Level 3 shares.
July 29, 2015
12:42 EDTLVLTOn The Fly: Top stock stories at midday
Stocks on Wall Street overcame a tentative start and are higher at midday ahead of the statement from the Federal Reserve following its latest monetary policy meeting. The pending home sales report showed an unexpected decline from the prior month, reminding investors the economy still isn't seeing the most robust of recoveries. ECONOMIC EVENTS: In the U.S., an index of pending home sales fell 1.8% in June, versus expectations for it to have risen 1% compared to the prior month. The Federal Reserve concludes a meeting on monetary policy today and its post-meeting statement is scheduled to be released at 2 pm EDT. The central bank is not expected to raise rates at this meeting and no post-meeting press conference is scheduled for Fed Chair Janet Yellen. In China, the Shanghai composite index rose 3.4%, stemming its most recent stretch of declines, though the index is still deeply in the red on a week-to-date basis. COMPANY NEWS: Shares of Twitter (TWTR) fell 13% after the company reported better than expected quarterly results but its management tempered expectations about its user growth. Several analysts cut their price targets on the stock and warned its shares may be range bound in the near-term, but maintained their buy ratings on the stock based on the social network operator's long-term potential. MAJOR MOVERS: Among the notable gainers following their earnings reports were hepatitis C drug maker Gilead (GILD), which rose 3%, and two defense contractors who raised their outlooks: Northrop Grumman (NOC), which advanced 7%, and General Dynamics (GD), which gained nearly 5%. Also higher was Citrix Systems (CTXS), which jumped about 10% after issuing better than expected fiscal year earnings guidance, reporting its CEO Mark Templeton plans to retire and entering into a cooperation agreement with activist investor Elliott Management, which owns approximately 7.5% of the company’s common stock. Among the noteworthy losers was Yelp (YELP), which tumbled 28% and hit a multi-year low after the local business review site operator reported lower than expected profit and lowered its fiscal year revenue guidance. Also lower following their earnings reports were Akamai (AKAM), which fell 5%, and Level 3 Communications (LVLT), which dropped 6%. INDEXES: Near midday, the Dow was up 94.46, or 0.54%, to 17,724.73, the Nasdaq was up 6.72, or 0.13%, to 5,095.92, and the S&P 500 was up 9.02, or 0.43%, to 2,102.27.
12:07 EDTLVLTLevel 3 weakness an overreaction, says Cowen
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08:03 EDTLVLTLevel 3 backs FY15 adjusted EBITDA growth of 14%-17%
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08:02 EDTLVLTLevel 3 reports Q2 EPS 42c, consensus 39c
Reports Q2 revenue $2.06B, consensus $2.08B. Reports Q2 CNS revenue $1.94B. Reports Q2 Deferred revenue $1.17B.
July 20, 2015
13:18 EDTLVLTOptions with increasing call volume
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