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Stock impact report

Lumen Technologies (LUMN) Bounces Back from 3-Day Drop. Here's Why [Yahoo! Finance]

Lumen Technologies, Inc. (LUMN) 
Company Research Source: Yahoo! Finance
Lumen Technologies rebounded by 3.44 percent on Tuesday to close at $7.81 apiece as investors resorted to bargain-hunting following a three-day drop. Month-to-date, the stock was down by 3.7 percent. In recent news, Lumen Technologies Inc. (NYSE:LUMN) announced the early redemption of its entire note series due 2029, 2030, and 2031, removing its earlier cap to redeem only $1.5 billion worth of notes. While the offer stands to benefit holders of the said notes, the initiative sparked caution among shareholders over the possibility of Lumen Technologies, Inc. (NYSE:LUMN) burning more cash and tapping new debt facilities to implement such an initiative. The announcement followed Lumen Technologies, Inc.'s (NYSE:LUMN) plan earlier this month to raise $1.25 billion in fresh funds from the issuance of senior notes due 2036. The new notes were higher by $500 million than the initial plan and carry a yield rate of 8.5 percent, proceeds of which will be used to fund the buyback of t Show less Read more
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