Lumen Technologies Inc Stock Price, News & Analysis

Lumen Technologies (NYSE: LUMN) has appointed former Microsoft executive Chris Capossela to its board of directors. Capossela, who served as Microsoft's executive vice president and chief marketing officer for ten years, brings over 30 years of technology industry experience. In his previous role, he led worldwide marketing across consumer and commercial businesses, managing product marketing, business planning, and sales channels. The appointment increases Lumen's board size from 11 to 12 members.

Lumen Technologies (NYSE: LUMN) and Meta have announced a partnership to significantly increase Meta's network capacity, supporting its AI ambitions. Lumen's Private Connectivity Fabric℠ will provide dedicated interconnection for Meta's infrastructure, enhancing its ability to lead in AI development.

The expanded network aims to meet the growing demand for AI services across Meta's platforms, offering secure on-demand bandwidth to support complex computing needs and serve billions of users daily. This partnership includes dedicated access to existing fiber routes and new routes between data centers, positioning Lumen to deliver network capacity for an AI-ready world.

Ashley Haynes-Gaspar, Lumen's EVP and chief revenue officer, emphasized the significance of this expansion, while Alex-Handrah Aimé, director of Meta's Network Investments, highlighted the importance of advanced networks in supporting Meta's increasingly complex AI tools and immersive experiences.

Lumen Technologies (NYSE: LUMN), a global integrated network solutions provider, has announced that it will release its third quarter 2024 results on Nov. 5, 2024. The company will host a live conference call on its Investor Relations website at 5 p.m. ET on the same day. Investors and interested parties can access additional information, including the earnings release, investor presentation, and related materials, on Lumen's Investor Relations website at http://ir.lumen.com. This announcement sets the stage for Lumen to share its financial performance and business updates for the third quarter of 2024 with shareholders and analysts.

Lumen Technologies (NYSE: LUMN) announced early results of its exchange offers for unsecured notes of Lumen and Level 3. Lumen offered to exchange up to $500 million of new 10.000% Secured Notes due 2032 for certain outstanding unsecured senior notes. Level 3 Financing offered to exchange up to $350 million of new 10.000% Second Lien Notes due 2032 for its outstanding unsecured senior notes.

For Lumen's offer, $490,819,000 in notes were tendered, not reaching the $500 million cap. Lumen expects to issue $438,305,345 in new notes and pay $13,694,400 in cash. For Level 3's offer, the $350 million cap was reached, with $357,142,000 in notes expected to be accepted. Level 3 plans to issue $349,999,160 in new notes.

The exchange offers expire on October 1, 2024, unless extended. The early tender deadline has passed, and tendered notes can no longer be withdrawn.

Lumen Technologies (NYSE: LUMN) has announced exchange offers for certain unsecured senior notes. Lumen is offering to exchange up to $500 million of newly-issued 10.000% Secured Notes due 2032 for its outstanding unsecured notes due 2026, 2027, 2028, and 2029. Level 3 Financing, a subsidiary, is offering to exchange up to $350 million of newly-issued 10.000% Second Lien Notes due 2032 for its outstanding unsecured notes due 2027 and 2028.

The exchange offers are subject to various conditions and prioritization levels. Early tenders (by September 16, 2024) will receive higher consideration. The offers expire on October 1, 2024, unless extended. The new notes will be secured and have similar covenants to existing secured notes. These offers are only available to qualified institutional buyers and non-U.S. persons outside the United States.

Lumen Technologies (NYSE:LUMN) has chosen Blue Planet Inventory (BPI), an intelligent automation software from Ciena's (NYSE:CIEN) Blue Planet division, to drive its strategic network inventory transformation initiative. This selection aims to:

• Consolidate multiple legacy inventory systems
• Streamline service delivery and assurance processes
• Digitize network assets
• Improve global customer experience

The implementation of BPI will enable Lumen to create a digital twin of its network, allowing for test simulations, network planning, and issue identification. This transformation is important for Lumen's mission to connect people, data, and applications efficiently while improving operational efficiency and supporting innovations like Network-as-a-Service and Private Connectivity Fabric℠.

Lumen Technologies (NYSE: LUMN), a global integrated network solutions provider, has announced that its Executive Vice President and CFO Chris Stansbury will present at the Goldman Sachs Communacopia + Technology Conference on September 9, 2024. The presentation is scheduled to begin at 7:25 p.m. ET.

Investors and interested parties can access a live webcast of the presentation through the Lumen Investor Relations website. This event provides an opportunity for Lumen to showcase its strategies and financial outlook to a broader audience of investors and industry professionals.

As a company that aims to unleash the world's digital potential, Lumen's participation in this conference underscores its commitment to engaging with the investment community and sharing insights into its business operations and future plans.

Lumen Technologies (NYSE: LUMN) has been selected by the New Mexico Office of Broadband Access and Expansion to provide nearly 900 miles of high-speed fiber connectivity to K-12 public schools across the state. The three-year contract, worth over $4.3 million in its first phase, will connect approximately 15,000 students in the Gadsden Independent School District and three charter schools in Albuquerque. Lumen will deliver secure high-speed connectivity using advanced fiberoptic wave technology, backbone circuits, and network nodes.

The project is part of the New Mexico Statewide Education Network, which aims to interconnect all New Mexico schools by 2027 and lay the foundation for a state-coordinated middle mile network. This initiative is important for digital inclusivity, equity, and affordability, bridging the gap to last-mile broadband providers. The network's first connection was celebrated at Albuquerque's 21st Century Public Academy, marking a significant step in New Mexico's commitment to technology in schools.

Lumen Technologies (NYSE: LUMN), a global integrated network solutions provider, has announced that its Executive Vice President and Chief Financial Officer, Chris Stansbury, will present at the BofA Securities 2024 Media, Communications & Entertainment Conference on September 5, 2024. The presentation is scheduled to begin at 8:50 a.m. ET.

Investors and interested parties can access a live webcast of the presentation through the Lumen Investor Relations website at https://ir.lumen.com/events-and-presentations. This event provides an opportunity for Lumen to showcase its strategies and financial outlook to a key audience in the media and communications sector.