Level 3 POSITIONED for Cloud Services and 3 Stocks Falling to 52-Week Lows
Level 3 Communication, Inc. (NASDAQ:LVLT) reports that it has been listed by the government of the United Kingdom as a vendor for five service categories under the Public Services Network framework, and is now in position to begin providing network and Cloud-based services over the Network to any customer. Shares closed down 1.35 percent on the day at $19.01, and have traded in a 52-week range of $16.51 to $36.00.
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Netflix, Inc. (NASDAQ:NFLX) released the following statement: “Law firms Edelson McGuire LLC and Wilson Sonsini Goodrich & Rosati PC announced that a settlement has been reached in a class action lawsuit that claims Netflix unlawfully kept and disclosed customer information, including records on the movies and TV shows its customers viewed. Netflix denies that it has done anything wrong. Any current or former Netflix subscriber as of July 5 and lives in the U.S. or its territories is included in the Settlement. The Settlement has been preliminarily approved by the United States District Court for the Northern District of California. Netflix has agreed to change its data retention practices so that it separates Entertainment Content Viewing History from identification information for those subscribers who have not been a Netflix for at least 365 days, with some exceptions. In addition, Netflix will pay $9 million into a settlement fund, from which it will make donations to Court-approved not-for-profit organizations, institutions, or programs that educate users, regulators, and enterprises regarding issues relating to protection of privacy, identity, and personal information through user control, pay notice and settlement administration expenses, attorneys’ fees of up to $2.25 million plus up to $25,000 in expenses, and a total incentive award of $30,000 to the Named Plaintiffs.” Shares closed down 4.13 percent on the day at $54.50, having been traded in a 52-week range of $56.14 to $261.50.
O2Micro International Limited (NASDAQ:OIIM) says that it will examine various strategic alternatives for its Intelligent E-Commerce Group, among which the exploration of the separation of its E-Commerce division into a separate company through a joint venture or some other related transaction, will be included. The company expects that the process could be finished by the end of 2012, or possibly in the first quarter of 2013. Shares closed down 5.93 percent on the day at $3.65, but have traded in a 52-week range of $3.71 to $5.85.
Omnicell, Inc. (NASDAQ:OMCL) posts a second quarter earnings per share of 20 cents against a consensus of 18 cents. Shares closed down 1.99 percent on the day at $12.79, having been traded in a 52-week range of $12.74 to $17.94.
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