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Today's Big Losers: GLBC, MSPD, IDIX, LVLT
Tuesday, July 27, 3:00 PM ET

Global Crossing's (NASDAQ:GLBC) consolidated revenue was $630 million in the second quarter of 2010, a decrease of 3 percent sequentially and essentially flat year over year.

Consolidated net loss was $48 million for the second quarter of 2010. On a year-over-year basis, net loss increased $74 million, principally due to unfavorable foreign exchange impacts and, to a lesser degree, an increase in interest expense.

Global Crossing is lower by 13.4%.

Mindspeed Technologies (NASDAQ:MSPD) posted non-GAAP net income for the fiscal third quarter of $6.2 million, or $0.18 per share. Total revenue was $43.3 million. Shares of Mindspeed are down 10.25%.

Idenix Pharmaceuticals (NASDAQ:IDIX) said that the company expects that its current cash and cash equivalents, together with the anticipated royalty payments associated with product sales of Tyzeka/Sebivo, can fund operations into mid-2011. Shares are down 10.5%.

Level 3 Communications (NASDAQ:LVLT) posted consolidated revenue of $908 million for the second quarter 2010, compared $942 million for the second quarter 2009. The net loss for the second quarter 2010 was $169 million, or $0.10 per share versus a loss of $0.08 a year ago.

Level 3 is lower by 9.6%.

For MarketNewsVideo.com, I'm Kristin Bianco.

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