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Stock impact report

Why Lumen Technologies Stock Plummeted Today [Yahoo! Finance]

AT&T Inc. (T) 
Last at&t inc. earnings: 4/22 06:54 am Check Earnings Report
US:NYSE Investor Relations: en.wiktionary.org/wiki/at
Company Research Source: Yahoo! Finance
wind up selling one of its units to AT&T . The stock had been down as much as 18.7% earlier in the day. Bloomberg published a report today suggesting that AT&T could wind up buying Lumen's consumer-facing fiber internet business. Investors clearly aren't happy about the news. The report used unnamed sources. According to today's report, AT&T could buy Lumen's consumer fiber business for roughly $5.5 billion. While a sale could generate a significant amount of cash for the debt-laden Lumen, there are good reasons investors investors are having such a negative reaction to the news. Fiber offerings are a relative standout in Lumen's otherwise struggling consumer business, and selling the unit to AT&T would weaken the broader business significantly. At a $5.5 billion valuation, the market isn't seeing enough return for what Lumen would be giving up. If Lumen sells its consumer fiber business, it would likely be a sign of a much bigger shift at the company. Selling the unit to AT&T Show less Read more
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