ETF Trends
ETF Trends

A 5% rally in Level 3 Communications (NasdaqGS: LVLT) wasn’t enough to put telecom exchange traded funds (ETFs) in the green Monday as traders bid the stock higher before the company’s quarterly results.

Level 3 is expected to release first-quarter results on Tuesday. Wall Street analysts are projecting a loss of 10 cents a share on revenue of $922.6 million, on average.

ETFs that track the telecom sector were mixed on Monday. They include SPDR S&P Telecom ETF (NYSEArca: XTL), iShares Dow Jones US Telecommunications (NYSEArca: IYZ), Vanguard Telecommunications (NYSEArca: VOX) and Telecom HOLDRs (AMEX: TTH).

The recent bid by Level 3 to acquire Global Crossing (NasdaqGS: GLBC) has fueled hopes for more deals in the telecom sector.

SPDR S&P Telecom ETF


The opinions and forecasts expressed herein are solely those of John Spence, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.