Nasdaq 100 Leaders & Laggards: GRMN LVLT
Thursday October 4, 5:00 pm ET
Garmin, Level 3 Communications and Lamar Ad Shares Rise, Boosting Nasdaq 100
NEW YORK (AP) -- Shares of Garmin Ltd. and Level 3 Communications Inc. helped push the Nasdaq 100 to a higher finish Thursday, after the index wavered between gains and losses for much of the day. The Nasdaq 100, which includes 100 of the largest nonfinancial securities listed on the Nasdaq Stock Market, rose 2.55 points to finish at 2,105.56. The broader Nasdaq composite added 4.14 to 2,733.57. Garmin Ltd. shares added $4.43, or 4.6 percent, to $100.95. Following two days of losses, the personal navigation device maker bounced back after a Deutsche Bank analyst said the sale of Navteq Corp., which provides Garmin with map data, is not a threat to Garmin's business.
Level 3 Communications shares climbed 21 cents, or 4.4 percent, to $5.
Shares of Lamar Advertising Co. rose $2.15, or 4.2 percent, to $53.02, after a Morgan Stanley analyst said the outdoor advertising company may top his forecast for the deployment of 350 digital billboards next year.
On the declining side, shares of wireless carrier NII Holdings Inc. sank $4.34, or 5.5 percent, to $74.48.
Shares of pharmacy benefits manager Express Scripts Inc. lost $2.15, or 3.9 percent, to $53.69.
Akamai Technologies Inc. shares fell $1.06, or 3.4 percent, to $30.01.
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