Why Lumen Stock Skyrocketed Again Today
Lumen Technologies (NYSE: LUMN) 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, the stock also got a boost from a surge of bullish coverage from analysts.
Lumen recorded a non-GAAP (adjusted) loss per share of $0.13 on revenue of $3.27 billion in the second quarter. For comparison, the average Wall Street target had called for the business to post an adjusted loss of $0.04 per share on sales of $3.25 billion.
Source Fool.com
