Lumen (LUMN) Drops 7% on Lack of Leads

Group 1 - Lumen Technologies Inc. experienced significant selling pressure, with a 7.57% decline in stock price, closing at $8.55, marking the fourth consecutive day of losses amid a lackluster market [1][4] - The company reported a widened net loss of $621 million in Q3, a 319% increase from the previous year's loss of $148 million, attributed to higher expenses [2] - Adjusted EBITDA decreased by 32% to $571 million from $843 million, while total revenues fell by 4.16% to $3.087 billion from $3.221 billion year-on-year [2] Group 2 - Despite the negative financial results, Lumen reaffirmed its growth outlook for full-year 2025, projecting total adjusted EBITDA to reach between $3.2 billion and $3.4 billion [3] - Capital expenditures are expected to be between $4.1 billion and $4.3 billion as the company focuses on developments to support the artificial intelligence industry [4]