Lumen Technologies (LUMN) shares have skyrocketed 236% year to date (YTD) compared with the S&P 500 composite and sub-industry's growth of 17.4% and 18.7%, respectively. What Caused the Surge? A string of recent positive developments contributed significantly to the stock price surge. Image Source: Zacks Investment Research On Aug 5, Lumen announced that it has secured $5 billion in new business deals attributed to significant AIfueled connectivity demand. Additionally, the company is actively negotiating w ...

Core Insights - Lumen Technologies has secured a three-year contract valued at over $4.3 million to provide high-speed fiber connectivity to K-12 public schools in New Mexico [1][4] - The initiative aims to connect all schools in New Mexico by 2027, establishing a statewide education network [2] - Lumen's advanced fiber technology will enhance digital inclusivity and educational opportunities for approximately 15,000 students [3][4] Financial Performance - Lumen reported second-quarter revenues of $3.268 billion, reflecting a year-over-year decline of 10.7% due to divestitures and the sale of its CDN business [6] - Despite the revenue decline, Lumen has secured $5 billion in new business driven by AI demand and is negotiating an additional $7 billion in sales [7] Strategic Partnerships and Growth - Lumen signed its largest cable purchase agreement with Corning, securing 10% of Corning's global fiber capacity for the next two years [8] - The company has been selected by Microsoft to enhance its network capacity, supporting next-generation applications [7] Market Performance - Lumen's shares have increased by 269.3% over the past year, significantly outperforming the sub-industry's growth of 48.5% [8]

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Thousands of New Mexico students to benefit from classroom connectivity DENVER, Aug. 15, 2024 /PRNewswire/ -- The New Mexico Office of Broadband Access and Expansion recently selected Lumen Technologies (NYSE: LUMN) to provide nearly 900 miles of high-speed fiber connectivity to K-12 public schools around the state, including charter and tribal schools. Connecting the first school The company is participating in a ribbon-cutting ceremony today with state education and broadband officials at Albuquerque's 21 ...

Market Overview - Last week's market turmoil was not indicative of a broad-based collapse, with the S&P 500 closing largely unchanged despite fears of a U.S. recession and volatility in AI-powered tech stocks [1] - Some stocks demonstrated resilience, posting double-digit gains during the market downturn and continuing to show strong performance afterward [2] Company Performances Latham Group (SWIM) - Latham Group's stock initially fell 10% but rebounded to a 64% gain after reporting better-than-expected second-quarter profits [4][5] - The company reported a 10% decline in sales to $160 million but improved profitability due to cost structure enhancements and production efficiencies [5] - Analysts expect an 8% sales decline for the full year to $520 million, with profits projected to drop from 21 cents to 3 cents per share before recovering to 11 cents the following year [6] Lumen Technologies (LUMN) - Lumen Technologies' stock surged 150% before retracting some gains, driven by its involvement in AI infrastructure [8] - The company has signed over $5 billion in partnership deals related to AI and anticipates additional opportunities worth over $7 billion [10] - Despite the stock's rise, it remains undervalued, with potential price targets suggesting a 40% upside from current levels [11] TenX Keane Acquisition (TENK) - TenX Keane Acquisition experienced a significant stock increase of 275% following shareholder approval of its merger with Citius Pharmaceuticals [12] - The merger is expected to close soon, with the combined entity rebranded as Citius Oncology [12] - Citius recently received FDA approval for its Lymphir therapy, presenting a market opportunity valued between $300 million and $400 million, with analysts projecting a 470% upside based on current trading prices [14]

Lumen Technologies, Inc. (NYSE:LUMN) TD Cowen 10th Annual Communications Infrastructure Summit Conference Transcript August 13, 2024 5:40 PM ET Company Participants Dr. Satish Lakshmanan - Executive Vice President and Chief Product and Strategy Officer Conference Call Participants Greg Williams - TD Cowen Greg Williams All right. Let's get started. Good afternoon. Welcome to our session with Lumen. My name is Greg Williams. I cover the Cable, Telco, Wireless and Fiberspace at TD Cowen. I'm joined in this se ...

DENVER, Aug. 13, 2024 /PRNewswire/ -- Lumen Technologies (NYSE: LUMN) ("Lumen"), a global integrated network solutions provider that unleashes the world's digital potential, today announced that Chris Stansbury, Lumen's executive vice president and chief financial officer, 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. A live webcast link to the investor presentation will be made availabl ...

The distressed company announced a big AI networking deal. Shares of broadband and fiber network operator Lumen Technologies (LUMN 4.18%) rocketed 75.2% higher this week, according to data from S&P Global Market Intelligence. The company reported a surge of new revenue deals related to artificial intelligence (AI) and also reported earnings this week. While Lumen has struggled under a heavy debt load with declining legacy businesses in recent years, the AI revolution appears to be offering Lumen new growth ...

Lumen missed earnings expectations, but it actually had some great news for investors. Lumen Technologies (LUMN 32.60%) stock soared again in Wednesday's trading. The telecom's share price ended the daily session up 32.6%, according to data from S&P Global Market Intelligence. Shares had been up as much as 56.6% earlier in the day. Lumen reported mixed second-quarter results after the market closed yesterday, but the company issued some very encouraging guidance. In addition to the promising new forecast, t ...

One of this week's top breakout sensations is still trending upward after an impressive surge. Lumen Technologies (NYSE:LUMN) stock began skyrocketing after markets opened yesterday. The telecommunications firm had reported several key deals with prominent tech companies involving its artificial intelligence (AI) technology. In just 24 hours, Lumen has emerged as a key AI stock that investors can't help but notice. While some wondered if LUMN stock would quickly fall back down, so far, it hasn't happened. S ...