Level Three Confirms Deal With Netflix (LVLT, NFLX)

According to CNBC, Level 3 Communications, Inc. LVLT has confirmed it now has a deal with Netflix NFLX to be its content delivery partner. LVLT took this deal away from Akamai AKAM, and shares of Level 3 are skyrocketing on the news. At last check, shares were up 15 cents to $1.04, a gain of 17.5%. Akamai is down $2.41 to $51.73, a loss of 4.5%.