Nasdaq 100 Leaders & Laggards: LVLT AKAM

The Nasdaq 100 rose on Thursday, pulled higher by Level 3 Communications Inc., Ryanair Holdings PLC, and Dell Inc.

The index, comprised of 100 of the largest nonfinancial securities listed on the Nasdaq Stock Market, rose 8.12 points to 1,964.92. The broader Nasdaq composite index advanced 16.31 points to 2,464.58.

Wachovia analyst Jennifer M. Fritzsche upgraded Level 3 to "Market Perform" from "Underperform," following recent meetings with management. Shares of Level 3 climbed 35 cents, or 11.1 percent, to $3.50.

Irish airline Ryanair Holdings PLC advanced $1.13, or 4.5 percent, to $26.11, helping to reverse a decline on Wednesday amid high oil prices.

Dell rose 88 cents, or 4.4 percent, to $20.89.

On the losing side, Akamai Technologies Inc. declined $2.56, or 6.5 percent, to $36.71. An analyst added the stock to a "Sell" list because of a rise in the stock price and rising competition.

Baidu.com Inc. declined $19.98, or 5.6 percent, to $335.01.

Intuitive Surgical Inc. slipped $13.90, or 4.8 percent, to $274.75, after an analyst said the maker of robotic surgical instrument's sales outlook is lower than expected.