Lumen Technologies, Inc. (NYSE:LUMN) shares are trading higher on Wednesday. Lumen is set to release 2024 fiscal year second quarter earnings on August 6. In addition, last week Lumen and Microsoft Corporation (NASDAQ:MSFT) announced a new partnership.
The Details: Analyst estimates a loss of six cents per share and revenue of $3.24 billion for the quarter.
Lumen announced Wednesday that Chris Stansbury, Lumen's executive vice president and chief financial officer, will present at the Citi Global Technology, Media and Telecom Conference on September 4, 2024.
Microsoft and Lumen are collaborating in order to enhance Lumen's digital transformation with Microsoft Cloud and increase network support for Microsoft's AI datacenters.
Lumen specifically plans to migrate its workloads to Microsoft Azure and use Microsoft Entra solutions to both safeguard its workloads and prevent identity attacks. These changes are anticipated to increase Lumen's cash flow by than $20 million over the next year.
Microsoft will integrate Lumen's Private Connectivity Fabric. The new infrastructure strengthen the connectivity capabilities between Microsoft's datacenters.
How To Buy Lumen Technologies Shares
Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.
For example, in Lumen Technologies (NYSE:LUMN)'s case, it is in the Communication Services sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
Related Link: AI Workers 'Won't Come Just For The Money, And They Certainly Won't Stay For It': Report
LUMN Price Action: Lumen shares are trading 14.4% higher at $3.05 as of Wednesday morning, according to data from Benzinga Pro.
Image: 1495181 from Pixabay.