Why Lumen Technologies Fell 25.7% in November
Shares of telecom giant Lumen Technologies (NYSE: LUMN) plunged 25.7% in November, according to data from S&P Global Market Intelligence. It wasn't difficult to ascertain why Lumen fell last month: The company announced on its Nov. 2 earnings call that it suspended its generous dividend. In the third quarter, Lumen once again disappointed the markets, with revenue declining 10.2% and non-generally accepted accounting principles (adjusted) earnings per share of $0.14 missing estimates by a wide $0.21.