trading

 

Level 3 Stocks Drop on CFO News

Level 3 Communications Inc. shares fell nearly 9 percent by early afternoon on news that the company is looking for a new CFO. Level 3s stock was trading for $4.47, down 8.78 percent from the opening price of $4.75. CEO James Crowe said CFO Sunit Patel will remain with Level 3 during the transition period. […]

Virgin Mobile Holds Steady on the NYSE

Virgin Mobile USA Inc. were trading slightly above the target opening price of $15 per share on Friday, a day after the MVNO went public on the New York Stock Exchange. That share price was a little lower than the expected $15-$17 range. Virgin Mobile offered 27.5 million shares of Class A common stock; investors […]

Qwest Expands Wholesale Gigabit Ethernet Services to 10gbps

Qwest Communications International Inc. will offer wholesale customers Dedicated Internet Access (DIA) over Ethernet with speeds from 2gbps to 10gbps within key U.S. metropolitan markets. Wholesale customers can order Qwest DIA over Ethernet in 1gbps increments to consolidate Internet traffic and realize significant cost savings, said Qwest. A few years ago, people didn’t think companies […]

Nacchio Appeals Insider Trading Conviciton

Former Qwest Communications International Inc. CEO Joseph Nacchios legal team is seeking to overturn his conviction for insider trading. Nacchios attorney, Maureen Mahoney, filed a 58-page brief with a federal appeals court Tuesday saying there was insufficient evidence for a conviction. She also said the judge gave improper jury instructions and excluded important defense testimony […]

Vonage Settles With Sprint

Vonage Holdings Corp. on Monday said it will settle its patent dispute with Sprint Nextel Corp. by paying $80 million and licensing the technology it was found guilty of illegally using. Vonage lost another patent infringement suit two weeks ago. The IP telephony company now says it’ll pay $35 million for past use of Sprint’s […]

XO Increases Capacity of Core Network, Extends Incentive Program

XO Communications said Monday it has increased the capacity of its core network by 200 percent by deploying an additional 800gbps of capacity on major routes across its18,000 route-mile optical network. The company also said it has extended the availability of its 3 Guarantee Program, which offers carriers, cable companies, content providers, enterprises and wireless […]

Judge: Nacchio Must Forfeit Assets of $52 Million

Qwest Communications International Inc.s former CEO, Joe Nacchio, must forfeit $52 million in assets he gained after illegal stock sales. The federal government has tried since late 2005 to force Nacchio to hand over those proceeds. A federal judge in Denver released the forfeiture order on Friday as Nacchios sentencing hearing was starting. Nacchio in […]

Towerstream Closes Stock Offering, Shares Decline

Towerstream Corp.s stock has taken a beating since the fixed wireless broadband provider went public on the Nasdaq in late May. Its share prices fell 3 percent during the first week of trading, however, and now the company has sold $40 million of its stock for less than market price. Towerstream announced last week it […]

Nacchio Attorneys File for New Trial

Attorneys for former Qwest Communications International Inc. CEO Joe Nacchio filed motions Monday for an acquittal, a new trial and a change of venue in his insider trading case. His attorneys said the jury that convicted him on 19 of 42 counts in April was exposed to public attacks on Nacchio. A judge has denied […]

NEWS BRIEFS

Wholesale service provider Pac-West Telecomm Inc. filed for Chapter 11 bankruptcy on May 1. The beleaguered company has secured $18.5 in debtor-inpossession financing to fund operations during reorganization. Pac-West has watched revenue from ISPs decline as it simultaneously has spent millions building out its network. It also sold its retail business to TelePacific Communications in […]

1 2 3 14
The ID is: 76383