Lumen Technologies Inc Stock Price, News & Analysis

Lumen Technologies (NYSE: LUMN) announced the successful redemption of $900 million of 5.375% Senior Notes due 2024 by its subsidiary Level 3 Financing Inc. on February 12, 2021. Additionally, on February 16, 2021, Qwest Corporation, another subsidiary, completed the redemption of $235 million of 7.00% Notes due 2056. Both redemptions were executed at par plus accrued interest, indicating a strategic move to manage debt and interest expenses.

Lumen Technologies reported Q4 2020 revenue of $5.125 billion, down 3% from Q4 2019. Despite this, the company emphasized significant advancements in their transformation strategy, particularly with the launch of the Lumen platform to enhance digital experiences. Adjusted EBITDA stood at $2.281 billion, with a margin of 44.5%. Notably, a non-cash goodwill impairment of $2.642 billion was recorded. Looking ahead, Lumen projects adjusted EBITDA between $8.4 to $8.6 billion for 2021, with free cash flow anticipated between $2.8 to $3.0 billion.

Lumen Technologies (NYSE: LUMN) and VMware (NYSE: VMW) announced a strategic partnership expansion to enhance edge computing and secure work-from-anywhere solutions. The collaboration will include a Joint Innovation Lab focusing on integrating VMware Tanzu with Lumen's Edge Bare Metal service, enabling secure edge-native workloads. Additionally, VMware's Secure Access Service Edge (SASE) will be incorporated into Lumen services, improving network reliability for distributed workforces. The partnership aims to drive innovation in automated factories, smart cities, and telemedicine.

Lumen Technologies (NYSE: LUMN) announced that its subsidiary, Qwest Corporation, will redeem all $235 million of its 7.00% Notes due 2056. The redemption is scheduled for February 16, 2021, at par plus any accrued and unpaid interest up to the redemption date. This move may affect Lumen's financials by reducing outstanding debt, thereby influencing cash flow and interest expenses. Further details can be obtained from U.S. Bank National Association. This announcement is not a formal notice of redemption.

Lumen Technologies (LUMN) has partnered with SAP (SAP) to integrate SAP HANA into the Lumen platform, streamlining cloud services for small and medium-sized enterprises. This collaboration targets 75,000 global customers, enabling quicker deployment and management of SAP Business One in the cloud. Lumen will provide a cost-effective, monthly service-based pricing model, enhancing its platform with a hybrid deployment option. As the first cloud management platform to host SAP HANA, Lumen aims to position itself strategically in the digital economy.

Lumen Technologies (LUMN) has been approved as a technology provider for the Georgia Technology Authority (GTA) Direct and California Network and Telecommunications (CALNET) programs. This allows state and local agencies, as well as educational institutions in Georgia and California, to access Lumen's technology services via state contracts. The GTA Direct program offers managed IT services to over 1,200 entities, while CALNET enhances telecommunications for governmental and educational bodies. Lumen's extensive infrastructure includes over 165,000 connections and 15,000 fiber route miles in these states.

Lumen Technologies (NYSE: LUMN) and Intel Corporation have released a global survey indicating a significant shift towards edge computing among businesses. Approximately two-thirds of IT leaders are implementing edge solutions to address latency issues. Ninety percent of respondents require low latency of 10ms or less for successful applications, with 75% seeking 5ms or less. The preference for a flexible managed service model reflects a growing trend in consumption-based business strategies. This strategic investment is seen as crucial for enhancing operational efficiencies and improving customer experience.

Lumen (NYSE: LUMN) has been selected by the State of Nebraska to implement a next-generation 911 (NG911) platform. This system will enhance emergency call services, allowing residents to submit texts, images, and videos to 911 call centers, improving response times and situational awareness for first responders. The contract covers a five-year initial term with five possible one-year extensions and aims to connect approximately 70 public safety answering points (PSAPs) in Nebraska by the end of 2022.

Black Lotus Labs, part of Lumen Technologies (NYSE: LUMN), reported a significant rise in Ransom Distributed Denial of Service (RDDoS) attacks since the second half of 2020. Businesses faced increased threats during the pandemic, with cybercriminals demanding Bitcoin ransoms. The blog outlines attacks linked to groups like Fancy Bear and Lazarus Group. Lumen advises against paying ransoms, promoting DDoS mitigation services instead. The company operates 450,000 route fiber miles globally, focusing on enhancing technology for businesses and communities.