Why Lumen Technologies Stock Is Sinking Today [Yahoo! Finance]
Lumen Technologies, Inc. (LUMN)
Company Research
Source: Yahoo! Finance
ET. and had been down as much as 11.7% earlier in the daily session. Meanwhile, the S&P 500 index was down 0.5%. Lumen stock is losing ground in conjunction with news that the company and its Level 3 Financings subsidiary are looking to buy back some of the telecom's outstanding bonds. The company published a press release this morning announcing that it had submitted offers to repurchase debt bonds totaling $945 million. Start Your Mornings Smarter! Wake up with Breakfast news in your inbox every market day. Sign Up For Free » In addition to a moderate pullback for the broader market today on the heels of recent gains, Lumen stock is facing valuation pressures tied to its bond buyback offer. Along with its Level 3 Financing subsidiary, Lumen has issued cash offers to buy back all of its outstanding unsecured debt notes. The offer covers eight different sets of notes with different interest rates and maturity dates, and the two parties are offering between $0.86 and $1 for every
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LUMN
Earnings
- 11/5/24 - Beat
LUMN
Sec Filings
- 11/13/24 - Form 4
- 11/12/24 - Form 4
- 11/5/24 - Form 10-Q
- LUMN's page on the SEC website