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Canada Business News and Press Releases
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(EMAILWIRE.COM, October 15, 2010 ) Montréal, Québec - Stocktips.co
(http://www.stocktips.co), a premier source for penny stocks research issues stock alert for the following companies:
(LVLT, QTM, CIEN, PWER)
Level 3 Communications, Inc. (NASDAQ:LVLT) slid 0.73% to $0.881 on about 16.54 million shares. Yesterday, the company announced that it has signed an agreement with Grooveshark, a subsidiary of Escape Media Group, to provide high-speed Internet Protocol (HSIP) services to facilities in Denver and Jacksonville, Fla.
Under the terms of the agreement, Level 3 will provide Grooveshark with HSIP services, using an international IP network and access to efficient low-latency routes to enhance GroovesharkÂ’s online music streaming capabilities.
Quantum Corporation (NYSE:QTM) soared 11.52% to $2.71 on about 9.89 million shares. Last week, Gleacher started the stock at Buy with a $4 price target.
Volumes were high today at 9.89 million shares- more than 3.5X its average daily volume.
Ciena Corporation (NASDAQ:CIEN) dropped 1.59% to $14.90 on over 6.72 million shares. Yesterday, the company announced that it has priced an offering of $320 million aggregate principal amount of its Convertible Senior Notes due 2018 to be sold to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended.
The stock opened at $15.07 and traded within the range of $14.70-$15.17. The stock went up more than 36% year-to-date.
Power-One, Inc. (NASDAQ:PWER) fell 5.02% to $10.41 on about 5.70 million shares. On 6 Oct 2010, the company announced that it has acquired the assets of Fat Spaniel Technologies, Inc., a provider of lifecycle management software for renewable energy assets. The acquisition extends Power-OneÂ’s performance and technology advantage with its inverters, while providing its customers with a stronger feature-set and enhanced system control to manage renewable energy assets, including solar installations. Financial terms of the transaction were not disclosed.
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Disclaimer and Forward-Looking Statement
Please read Stocktips.co disclaimer at http://www.stocktips.co
This press release contains statements (such as projections regarding future performance) that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risk and uncertainties, including but not limited to those detailed from time to time in the Company's filings with Pink Sheets.com. Mining projects are subject to numerous risk factors including changing regulations, volatile commodity prices, and others factors that may preclude production should commercially viable reserves be established on a property and exploration plans dependent on funding and approval of any required permits.
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Walid Moudjed
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info@stocktips.co 
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