Nextel Communications received positive attention from secondary market players last week ticking up to highs the paper has not seen for almost a year. Quarter after quarter Nextel has outperformed expectations, said one trader, adding that speculation of further consolidation in the wireless sector also has people paying more attention to the paper. Traders said the "B/C" tranche traded three times in the Street at 92 last Wednesday and then up to 93 1/2 on Thursday. Nextel's term loan "A" and "D" also were able to reap some of the attention with trades in the 90-91 context and 88 3/4-89 1/4 ranges, respectively. "People are shorting the bonds and buying the bank debt," noted one trader. Calls to a Nextel spokeswoman were not returned by press time.