Lumen’s stock slides toward 37-year low amid doubts company can ‘sharply diverge from its history’

Shares of Lumen Technologies Inc. were extending their declines Tuesday, off 5.2% and on track for their lowest close in 37 years.

See... Shares of Lumen Technologies Inc. were extending their declines Tuesday, off 5.2% and on track for their lowest close in 37 years. Louthan’s upgrade came after Lumen held a Monday investor-day presentation that highlighted the company’s attempts to deal with a business that is largely in decline.

“To join them, one must believe that Lumen’s results can sharply diverge from its history and the performance of the market in which it operates,” he wrote in a note to clients. “We don’t doubt that many of the steps the company is taking can improve its results.

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