Getting your player ready...
Level 3 Communications Inc., the money-losing operator of fiber-optic phone networks, rose 13 percent to $4.42 in Nasdaq trading Thursday, after Goldman Sachs Group Inc. said earnings should meet forecasts.
The Broomfield-based company could be exploiting momentum from the first three months of the year to raise capital through a debt offering, said Goldman Sachs analyst Jason Armstrong, who met with Level 3 executives Wednesday.
In a related development, Level 3 announced that it completed the sale of the advertising-distribution business of Vyvx LLC to DG FastChannel Inc. Level 3 received gross proceeds of about $129 million.
