Business Services Industry
Fiber-optic carrier Level 3 Communications' stock price rises in heavy trading.
Knight Ridder/Tribune Business News, October, 2004
By Virgil Larson, Omaha World-Herald, Neb. Knight Ridder/Tribune Business News
Oct. 13--Level 3 Communications' stock price rose 30 cents a share Tuesday, giving the stock a 20 percent run-up in two days of trading.
The long-haul fiber-optic carrier's stock closed at $3.28 Tuesday, following a 26-cent rise in the price Monday from a Friday closing price of $2.72.
Volume was heavy with 8.37 million shares traded Tuesday and 6.09 million Monday. The 52-week average is 3.77 million shares daily.
The company announced Tuesday that it had won a contract with Northrop Grumman Corp. to provide data network services for the aerospace and defense contractor's five-year, $337 million contract with the Homeland Security Department....
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