jeffree
3 weeks ago
Something to Watch for...???...Naked/illegal shortselling...
(the Actual number of shorted shares might be a lot higher than reported...
I will defer further comment on this matter...until a later date)...
Naked Short Selling Is Technically Illegal — But It Still Happens
Though the SEC made naked short selling illegal in 2008, instances of naked short selling have occurred in the U.S since. One famous example happened fairly recently, with GameStop shares.
“The most infamous recent example of naked short selling was the GameStop saga in 2021, where traders reportedly sold short around 140% of its shares,” Turner said. “This meant that 40% more shares were sold short than existed, which is only possible with ‘phantom’ sales from naked short selling.”
What this means, essentially, is that naked short sellers deposited digital entitlements into buyers’ accounts, “which are like a promise or IOU to locate the actual shares and deliver them at some point,” Turner explained.
“However, when the short squeeze picked up steam, the lack of available shares meant that many short sellers failed to deliver these borrowed shares. This led to a parabolic rise in the share price and many trades not getting settled.”
Naked Short Selling Continues Via Loopholes
Naked short selling continues today, albeit on a much smaller scale than it did prior to 2008. Though technically illegal, the practice is able to be executed through numerous loopholes, including zero-plus agreements.
“One way that traders have been able to circumvent laws and regulations against naked short selling is by entering into ‘zero-plus’ agreements, which allow them to simultaneously enter into long and short trades,” Turner said. “This means they can offset any potential losses from naked shorting while avoiding penalties from regulators.”
Another loophole traders can exploit is called “payment for order flow.” In this scenario, brokers “receive payment for routing orders away from exchanges and into dark pools, allowing them to bypass certain rules or restrictions on their trades,” Turner explained.
“This can make it more difficult for regulators to detect cases of illegal naked shorting since trades are routed away from exchanges, thus making the transactions more difficult to trace.”
Yet another fast one traders can pull is to employ multiple entities (e.g., offshore accounts) that disguise their activities so as to not raise suspicion from regulatory agencies.
“For example,” Turner said, “if an entity enters into a complex network of contracts spread out over several countries, investigators will likely have difficulty tracing back all the interlinked accounts involved in a single transaction.”
Naked short selling, when carried out, however deviously, is a generally negative occurrence that can upset and confuse the market.
abrooklyn
4 months ago
Lumen is first in the industry to achieve a Wi-Fi CERTIFIED 7™ device
Source: PR Newswire (US)
Custom-developed device provides Quantum Fiber customers with next-gen Wi-Fi® experience
DENVER, Jan. 8, 2024 /PRNewswire/ -- At the start of the Consumer Electronics Show (CES) 2024, the Wi-Fi Alliance® announced Lumen Technologies (NYSE: LUMN) has received Wi-Fi 7 certifications for two wireless devices. Lumen is the first company in the industry to achieve a Wi-Fi CERTIFIED 7™ device with its custom-developed solution. Lumen designed its devices for its Quantum Fiber residential and small business customers to deliver faster speeds and better coverage than Wi-Fi 6/6E.
Lumen is the first company in the industry to achieve a Wi-Fi CERTIFIED 7™ device
"We are proud that our Wi-Fi 7 devices are the first certified by Wi-Fi Alliance," said Maxine Moreau, Lumen president of Mass Markets. "This demonstrates our commitment to deliver the best Wi-Fi solutions to our customers as we continue to innovate for growth. Our Wi-Fi 7 devices offer faster speeds than Wi-Fi 6/6E, low latency, and amazing coverage allowing users to enjoy the next generation of Wi-Fi applications and services."
Wi-Fi Alliance certified two Lumen Wi-Fi 7 devices:
The W1700K is a desk or wall mount device that covers 90% of homes with higher data capacity than Wi-Fi 6/6E. It provides reliable and secure Wi-Fi 7 connectivity throughout the home or office.
The W1701K is a fully compliant wall plug-in device that extends the Wi-Fi 7 coverage throughout larger areas of the home or business to reduce dead zones.
Lumen's solution includes MediaTek's Smart Link-Dispatch technology, an advanced QOS/QOE feature built into the Wi-Fi radio, enhancing application performance with high-bandwidth and low-latency traffic in real-world settings.
Lumen's Quantum Fiber Wi-Fi 7 solution is an FCC 6GHz Standard Power (6SD) class device. The 6SD equipment class enables higher transmit power for increased data throughput or twice the range as compared to the theoretical indoor standard (6ID). With the 6GHz channel and the higher power setting, these devices wirelessly unlock the full power of the Quantum Fiber high speed product up to 8 gigabits per second, helping to enable higher data rates throughout a home or business.
Both devices also support cloud-based Digital Twin technology and use the carrier grade OpenWRT standard with Wi-Fi EasyMesh™ and prplMesh enabling real time orchestration and advanced device management capabilities.
Quantum Fiber installed its first customer Wi-Fi 7 device in December. Wi-Fi 7 will be available to new Quantum Fiber customers later this month. Quantum Fiber is available to homes and small businesses in parts of 16 states.
Lumen will showcase its new wireless technology at CES in the Smart Home section #35-209.
For more information about Quantum Fiber and Wi-Fi 7 go to www.quantumfiber.com/wifi7.
Wi-Fi CERTIFIED 7TM is a trademark of Wi-Fi Alliance®. Wi-Fi® is a registered trademark of Wi-Fi Alliance®.
Additional Information:
The benefits of Quantum Fiber's unique Wi-Fi 7 capable devices:
Superior Coverage: One device covers up to 90% of a home based on square footprint, significantly reducing the need for additional nodes.
Multi-User Capability: Supports multiple users and gigabit bandwidth demands with 2.4GHz, 5GHz, and 6GHz radios working together for high-speed data transmission, minimizing the need to run ethernet cable throughout home.
Latency and Speed: A significant improvement from Wi-Fi 6/6E technology, offering less than 3 milliseconds of latency and seamless integration with Quantum Fiber's multi-gig network with symmetrical speeds up to 8 Gbps.
Customer Experience: This Wi-Fi 7 device is part of Quantum Fiber's 360 Wi-Fi capabilities and is fully integrated and controlled through the Quantum Fiber app. The app will unlock advanced parental controls, Wi-Fi performance diagnostics, and includes a first-rate security suite.
High-Performance Applications: Ideal for bandwidth-intensive applications like 8K video streaming, cloud gaming, virtual reality, and large multimedia file transfers.
Advanced Technology: Contains a built-in GPS chip, enhancing 6GHz range performance in line with upcoming FCC specifications.
Cloud Based Digital Twin enabled: Built on carrier grade Open WRT standard with EasyMesh & prplMesh with real time orchestration and advanced level of device management.
Previous Announcements:
Lumen introduces a custom-built Wi-Fi 7 capable device for Quantum Fiber customers - Dec 29, 2023
Lumen Technologies' Quantum Fiber brand to deliver a disruptive and groundbreaking Wi-Fi 7 device - Oct 17, 2023
About Lumen Technologies:
Lumen connects the world. We are igniting business growth by connecting people, data, and applications – quickly, securely, and effortlessly. Everything we do at Lumen takes advantage of our network strength. From metro connectivity to long-haul data transport to our edge cloud, security, and managed service capabilities, we meet our customers' needs today and as they build for tomorrow. For news and insights visit news.lumen.com, LinkedIn: /lumentechnologies, Twitter: @lumentechco, Facebook: /lumentechnologies, Instagram: @lumentechnologies, and YouTube: /lumentechnologies.
Lumen Logo (PRNewsfoto/Lumen Technologies)
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SOURCE Lumen Technologies
Copyright 2024 PR Newswire
abrooklyn
6 months ago
Lumen wins $110 million contract from Defense Information Systems Agency
Source: PR Newswire (US)
Company will provide mission-critical fiber and network services
WASHINGTON, Nov. 7, 2023 /PRNewswire/ -- Lumen Technologies (NYSE: LUMN) recently won an approximately $110 million contract from the U.S. Defense Information Systems Agency (DISA) to provide secure, mission-critical network services to the U.S. Department of Defense.
Lumen wins $110 million contract from DISA. Under this new contract, Lumen will operate and maintain the Defense Information Systems Agency's fiber backbone.
"Lumen's robust fiber network delivers always-on, 24/7 services that power the U.S. Department of Defense."
"Lumen's robust fiber network delivers always-on, 24/7 services that power the U.S. Department of Defense," said Jason Schulman, Lumen national vice president, federal sales. "DISA leverages the Lumen network's strength, diversity and resiliency to achieve its mission of connecting and protecting America's service men and women who help defend our nation."
Under this new contract, Lumen will operate and maintain DISA's fiber backbone, which includes colocation facilities, dark fiber, diverse end-to-end network infrastructure, new fiber builds, and system updates that use new technologies to improve network resilience, decrease latency and increase availability. This award is an extension of an existing network services contract DISA previously awarded to Lumen.
Tech Talk:
The contract has a ceiling of approximately $110 million over a five-year period of performance from November 30, 2023, through September 30, 2028.
Lumen provides more than 11,000 fiber miles in support of the U.S. Department of Defense Information Network.
Lumen proudly supports military and civilian agencies' IT modernization efforts with the security and reliability government agencies need to carry out their important missions.
Additional Resources:
Learn more about our $223 million contract from the U.S. Defense Information Systems Agency to provide secure, mission-critical communications services: https://news.lumen.com/2023-02-02-Lumen-wins-223-million-Defense-Information-Systems-Agency-contract
Learn more about our Defense Information Systems Agency $1.5 billion award to provide network transport to the U.S. Indo-Pacific Command Area of Responsibility: http://news.lumen.com/2022-11-01-Lumen-wins-1-5-billion-Defense-Information-Systems-Network-contract
Learn more about our U.S. Department of Agriculture $1.2 billion network services award: https://news.lumen.com/2022-01-20-U-S-Department-of-Agriculture-awards-Lumen-1-2-billion-network-services-contract
Learn more about our U.S. Department of the Interior $1.6 billion network services award: https://news.lumen.com/2020-01-16-U-S-Dept-of-the-Interior-Awards-CenturyLink-1-6-Billion-EIS-Network-Services-Win
Learn more about how Lumen is supporting the public sector here:
https://www.lumen.com/public-sector.html
About Lumen Technologies:
Lumen connects the world. We are igniting business growth by connecting people, data, and applications – quickly, securely, and effortlessly. Everything we do at Lumen takes advantage of our network strength. From metro connectivity to long-haul data transport to our edge cloud, security, and managed service capabilities, we meet our customers' needs today and as they build for tomorrow. For news and insights visit news.lumen.com, LinkedIn: /lumentechnologies, Twitter: @lumentechco, Facebook: /lumentechnologies, Instagram: @lumentechnologies and YouTube: /lumentechnologies. Learn more about Lumen's public policy positions and public sector capabilities on Twitter at @lumengov and on LinkedIn at @lumenpublicsector.
Lumen Logo (PRNewsfoto/Lumen)
abrooklyn
10 months ago
Lumen shakes up telecom industry with Network-as-a-Service offering
Source: PR Newswire (US)
Customers dream of fast, flexible networking; Lumen now delivers in minutes
DENVER, July 31, 2023 /PRNewswire/ -- Lumen Technologies (NYSE: LUMN) launched its flagship capability on its Network-as-a-Service (NaaS) platform today. It's the first important step toward the company's bold vision to disrupt the telecom industry. By offering customers radical flexibility in how they buy, use, and manage networking services, Lumen is cloudifying traditional telecom.
"We have been preparing for this moment for a long time, building a world-class telecom network with state-of-the-art fiber, broad coverage and unsurpassed route diversity and scalability," said Kate Johnson, Lumen CEO. "Lumen's Network-as-a-Service offering takes the next step to deliver on our customers' networking dreams: the ability to fire up any port, with any service, at any time. It's your network, your way."
The Lumen NaaS Vision
Lumen® Internet On-Demand is the first and flagship service added to the Lumen NaaS platform, starting with limited availability. Over time, Lumen NaaS will expand to include security services, such as DDoS (Distributed Denial of Service), SASE (Secure Access Service Edge), and Edge services. The platform's fully digital, consumption-based model will set a new standard for customer experience and expectations.
"Lumen is putting the customer at the center of our Network-as-a-Service platform, creating a cloud-like experience for buying, consuming, and managing our network services," said Andrew Dugan, Lumen CTO. "Businesses are looking for a dynamic, dedicated internet connection, but they want it from a reliable and flexible network. Unlike some Network-as-a-Service players, Lumen can deliver on this promise because we own and manage our network."
Delivering on the Customer Dream
"Lumen plays an important role in helping content providers move video content to AWS," said Evan Statton, Sr. Principal Architect in M&E at AWS. For example, Fox Sports was able to bring its live sports content to AWS by using an on-demand connection aligned with Lumen's Network-as-a-Service platform. We look forward to continued work with Lumen to help AWS customers achieve their live cloud production goals."
Customers win big with Lumen's NaaS experience. They will use a digital portal or APIs (Application Program Interface) to order Lumen Internet On-Demand and future services for instant internet connections to public data centers and port-enabled business locations. They can quickly assign an existing port at a new enterprise building, connecting them to Lumen's network. Once established, the digital experience begins, including:
A dedicated connection to one of the largest, most connected and secure networks in the world
Ability to scale capacity in minutes
Internet speeds from 100 Mbps to 10 Gbps
A consumption-based billing model; pay only for the time services are active, starting at hourly rates
Real-time visibility into service performance and network usage
Quick enablement of new capabilities
"Lumen has taken a pragmatic approach when it comes to understanding the evolving needs of the Network-as-a-Service market, in terms of matching user experience with capabilities offered," said Rohit Mehra, group vice president, Network and Telecommunications, IDC. "Using its high-capacity, global backbone network, Lumen Internet On-Demand delivers flexible network services for a customer-first approach. Lumen's commitment to providing an effortless operational experience holds promise for enterprises in terms of consuming, managing and upgrading their networks.
Aligning with Key Partners
Lumen NaaS will leverage a broad digital ecosystem of partners – including data center, cloud, technology, and managed service providers - to maximize impact and reach. Digital Realty is one of the first third-party data center providers to join the Lumen Network-as-a-Service Alliance Partner program. Joint customers can provision on-demand services using a digital portal or API in real-time and increase or decrease bandwidth as needed.
"We're delighted to be partnering with Lumen to redefine the enterprise digital transformation landscape," said Chris Sharp, CTO, Digital Realty. "Lumen's cutting-edge Network-as-a-Service solution combined with our global network of highly connected facilities and orchestration platform ServiceFabric™, empowers enterprises with on-demand, personalized experiences, revolutionizing the way networks are consumed and managed. This highlights our shared vision, as we unite to meet the evolving needs of our customers."
Lumen's new on-demand services will be updated and shared throughout the year. More information on Lumen Internet On-Demand can be found at https://www.lumen.com/en-us/networking/internet-on-demand.html.
About Lumen Technologies:
Lumen connects the world. We are dedicated to furthering human progress through technology by connecting people, data, and applications – quickly, securely, and effortlessly. Everything we do at Lumen takes advantage of our network strength. From metro connectivity to long-haul data transport to our edge cloud, security, and managed service capabilities, we meet our customers' needs today and as they build for tomorrow. For news and insights visit news.lumen.com, LinkedIn: /lumentechnologies, Twitter: @lumentechco, Facebook: /lumentechnologies, Instagram: @lumentechnologies, and YouTube: /lumentechnologies.
This release may include forward-looking statements (as defined by the federal securities laws), which are subject to the "safe harbor" protections thereunder. These forward-looking statements are not guarantees of future results and are based on current expectations only, are inherently speculative, and are subject to a number of assumptions, risks and uncertainties, many of which are beyond our control. Actual events and results may differ materially from those anticipated, estimated, projected or implied by us in those statements. Factors that could affect actual results include, but are not limited to, each of the matters and risks referenced from time to time in our filings with the U.S. Securities and Exchange Commission. We undertake no obligation to publicly update or revise any forward-looking statements for any reason, which speak only as of the date made.
Lumen is creating a cloud-like experience for buying, consuming, and managing network services
Lumen Logo (PRNewsfoto/Lumen Technologies)
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SOURCE Lumen Technologies
Copyright 2023 PR Newswire
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