Why Lumen Technologies Stock Zoomed 12% Higher Today
Beaten-down telecom stock Lumen Technologies (NYSE: LUMN) wasn't looking so battered on Wednesday. In fact, the shares jumped more than 12% higher in price on news that a sports media company would be harnessing its technology to broadcast live games. Lumen's leap was far more pronounced than the S&P 500 index's 0.2% increase on that Hump Day trading session.
Wednesday morning, Lumen announced that it and Pac-12 Enterprises, the broadcasting unit of the Pac-12 college football conference, are teaming up this season. The broadcaster will use Lumen's network-as-a-service (NaaS) technology to deliver the conference's games to viewers of the highly competitive league.
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Source Fool.com
