Lumen Technologies stock halted for news, as Investor Day is held

Shares of Lumen Technologies Inc.
LUMN,
-3.23%
were halted for news pending in afternoon trading Monday, as the communications provider holds its Investor Day. The stock was up 0.3% prior to the halt. The company said earlier that it was collaborating with Microsoft Corp.
MSFT,
+0.33%
for the upcoming launch of the companies’ Operator Connect for Microsoft Teams Phone offering, which Lumen said will help more companies facing challenges of modernizing their hybrid workforce. The company also provided an update on its strategy to “reposition Lumen for growth,” including the company saying it was investing in ways to help customers migrate from Voice to updated technologies, and looking into ways to monetize its fiber network. The stock, which closed at a 37-year low of $1.88 on March 25, according to FactSet data, has plunged 61.4% year to date, while the S&P 500
SPX,
-0.22%
has rallied 11.6%.