Two items from Level 3 Communications (NYSE:LVLT, news, filings) so far this week that are worth a look.
The company’s Vyvx division will now offer uncompressed HD video transport between the major hubs of Los Angeles, Washington DC, and New York City. That means native, pristine 1.5 and 3.0 Gbps video broadcast feeds for things like the high profile sporting events that Vyvx specializes in. They also mentioned PacTV as having tested the capabilities during a recent medical conference, so it’s not just sports.
And down south, Level 3 won a deal with Blue Bell Creameries, a Texas-based ice cream distributor. Blue Bell will be upgrading its legacy frame relay network via Level 3’s IPVPN services, hooking up some 52 sites across 19 states. This is the kind of deal Level 3 hasn’t traditionally won enough of, and hence it is a good sign – we just need more of them! Hmm, now I’m hungry for a bowl of mint chocolate chip.
Level 3’s stock has been volatile in the past few days. I suspect traders may be anticipating the possibility of a reverse split being announced before or alongside earnings, as the company’s stock has languished below $1 for several weeks now. They’ve had the ability to do such a thing on the books for years and haven’t done so yet, but the stars may have finally aligned – or so the theory goes. Certainly the market’s patience has largely run out, and that second half revenue growth can’t come too soon.
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So, let me see if I understand you correctly. This release was a ruse in advance of an imminent R/S which is being facilitated by exorbitant volume since it was leaked?
Right before this news, was their expensive convert, and the day after the convert news, Crowe identified “manipulation” heading into it, but suggested, the stock would recover since calling them on it, i.e., supposedly got convert priced higher than would have been tied to that convenient 95 cents closing price.
Of course, the stock didn’t recover since this news became vogue.
With respect to the (3) security, one must continually review who the real “trading enemy” is or isn’t.
http://finance.yahoo.com/news/Traders-manipulating-cheap-rb-4120720457.html?x=0&.v=1
Err, no. The PRs are about real stuff, they aren’t a ‘ruse’.
But is there manipulation? It’s the stock market, if there isn’t manipulation then it’s probably a holiday. More than usual? Well, more shares than usual, so yeah – probably. Who knows, just guessing for now.
I must say this, then, with no intention to offend except against the perpetrators who continue to get away with these scams under the watchful eye of those complicit cops at the SEC. This is how lawsuits are triggered, even by honest share owners who have had enough of the BS!
I heard Crowe’s remarks, and he said, the stock would recover after the convert!
Now, it has only gotten worse since such comments were made. Of course, he had just sold his shares to other directors for as little as $1.05, but that has no bearing on their assessment of factual value, I’m sure, right?
Assuming he doesn’t deliver satisfactory numbers to quench or satisfy the Beast’s thirst, which is usually the case, what’s he going to do to protect his owners?
Are they following the exchanges where these miscreants operate?
And again, what are the odds of incarcerating that criminal operator, ICAHN, during the next year!
I’m sick and tired of these mobbed up bastids messing with my coin! imo
Not to rain on any parades, but maybe the performance of the stock isn’t good because the performance of the company isn’t good. The stock can’t run too far, because on top of their $x Billion in debt, they created a Billion common shares…..
It sounds like you have not heard the news—-there is no mystery about the large vol . There have been complaints by mkt makers to the SEC .
When a stock trades under 1.00,the pricing is in 100ths . The exchanges [best example is the CBOE] offer rebates for limit orders . They charge smaller fees re mkt orders . Traders are using 2 accounts ,putting in a limit buy & a mkt sell ,nanoseconds apart . They are buying & selling to themselves . Pocketing the difference between the rebate earned for the limit order & the fee charged for the mkt order.
If you look at the level 2 screen, you will see CBOE as the firm buying & selling about 95% of the time.
This has all been documented & printed on the lvlt chat board over the last few weeks!
Morty