Key Developments: CenturyLink Inc (CTL)
37.36USD
22 May 2013
$0.13 (+0.35%)
$37.23
$37.21
$37.67
$37.15
2,395,752
5,637,779
$43.43
$32.05
Latest Key Developments (Source: Significant Developments)
Zeldes Haeggquist & Eck, LLP Announces Investigation Of CenturyLink Inc
Zeldes Haeggquist & Eck, LLP, a shareholder and consumer rights litigation firm, announces the commencement of an investigation into CenturyLink, Inc., to determine whether the Company has violated securities laws by issuing false and misleading statements to shareholders. The Company also announced a new capital allocation initiative, under which the Company authorized the repurchase of up to $2.0 billion of the Company's outstanding common stock. At the same time the Company announced a plan to reduce the Company's quarterly cash dividend rate from $0.725 to $0.54 per share. On this news, the price of CenturyLink stock dropped from $41.69 on February 13, 2013 to close at $32.27 on February 14, 2013. The Company is investigating whether statements made by CenturyLink to the investing public in connection with the above were materially false and misleading at the time they were made. Full Article
CenturyLink Inc Issues Q2 2013 Guidance In Line With Analysts' Estimates; Reaffirms FY 2013 Revenue Guidance; Raises FY 2013 EPS Guidance
CenturyLink Inc announced that for second quarter of 2013, it expects operating revenue in the range of $4.49-$4.54 billion and adjusted diluted earnings per share (EPS) (excluding special items) in the range of $0.63-$0.68. For fiscal 2013, it expects operating revenues in the range of $18.1-$18.3 billion and adjusted diluted EPS (excluding special items) in the range of $2.60-$2.75 (prior guidance range $2.50-$2.70). According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $4.5 billion and EPS of $0.66 for second quarter of 2013; revenue of $18.1 billion and EPS of $2.66 for fiscal 2013. Full Article
CenturyLink Inc Wins Defense Research And Engineering Network III Contract
CenturyLink Inc announced that recently won the Defense Research and Engineering Network (DREN) III contract sponsored by the U.S. Department of Defense High Performance Computing Modernization Program (DoD HPCMP). The HPCMP aims to solve complicated and time-consuming problems with massively-parallel computing and high-speed networking. Full Article
CenturyLink Inc Prices $1.0 Billion Of Debt Securities
CenturyLink Inc announced that it agreed to sell $1.0 billion of newly-issued unsecured seven-year senior notes. The senior notes due 2020 were priced at par with a coupon of 5.625%. The closing of this offering is expected to occur on March 21, 2013. CenturyLink expects to use the net proceeds from this offering to repay a portion of the indebtedness outstanding under its $2 billion revolving credit facility, to repay its senior notes maturing on April 1, 2013 and for other general corporate purposes. J.P. Morgan Securities LLC and Barclays Capital Inc. are the joint physical book-running managers for this offering. Full Article
CenturyLink Inc Declares Quarterly Cash Dividend
CenturyLink Inc announced that its Board of Directors voted to declare a quarterly cash dividend of $0.54 per share, payable on March 22, 2013, to shareholders of record on March 11, 2013. Full Article
CenturyLink, Inc. Issues Q1 2013 Mixed Guidance; Issues FY 2013 Guidance; Revenue Guidance Below Analysts' Estimates
CenturyLink, Inc. announced that for the first quarter of 2013, it expects operating revenue to be in the range of $4.46 to $4.51 billion and adjusted diluted EPS to be in the range of $0.67 to $0.72. For fiscal 2013, it expects operating revenue to be in the range of $18.1 to $18.3 billion and adjusted diluted EPS to be in the range of $2.50 to $2.70. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $4.55 billion and EPS of $0.66 for the first quarter of 2013; revenue of $18.55 and EPS of $2.64 for fiscal 2013. Full Article
CenturyLink Inc Declares Quarterly Cash Dividend
CenturyLink Inc announced that Board of Directors voted to declare a quarterly cash dividend of $0.725 per share, payable on December 21, 2012, to shareholders of record on December 11, 2012. Full Article
CenturyLink, Inc. Issues Q4 2012 Guidance Above Analysts' Estimates; Raises Low End Of Prior FY 2012 Revenue Guidance To A Range In Line With Analysts' Estimates; Raises FY 2012 EPS Guidance
CenturyLink, Inc. announced that for the fourth quarter 2012, it expects operating revenue to be in the range of $4.56-$4.61 billion and adjusted diluted EPS to be $0.64-$0.69. For fiscal 2012, it expects operating revenue to be in the range of $18.35-$18.4 billion, adjusted diluted earnings per share (EPS) to be $2.64-$2.69. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $4.48 billion and EPS of $0.62 for fourth quarter of 2012; revenue of $18.38 and EPS of $2.53 for fiscal 2012. Full Article
CenturyLink Inc Terminates Financing Transactions
CenturyLink Inc announced that in light of current market conditions it has decided not to proceed with its previously-announced senior notes offering at this time. CenturyLink opportunistically sought to refinance certain indebtedness of its wholly owned subsidiary Qwest Communications International Inc. (Qwest) at attractive rates. As a result of its decision not to proceed with its senior notes offering, CenturyLink also announced that Qwest is hereby terminating its previously-announced cash tender offer for its outstanding 7.125% Notes due 2018 (CUSIP Number 749121CC1). Qwest is terminating the tender offer because it has determined that the financing condition is unlikely to be satisfied. Qwest has previously committed to redeem on October 26, 2012 all $550 million aggregate principal amount of its 8.00% Notes due 2015. Qwest now expects to fund this redemption with borrowings available to it under CenturyLink's revolving credit facility. Full Article
CenturyLink Inc Wins Two Federal Communications Commission Task Orders
CenturyLink Inc announced that it has won two task orders from the Federal Communications Commission (FCC) that could be worth a total of $9.6 million over the next five years. Both task orders were awarded under the General Services Administration's Networx Enterprise contract. GSA's Networx program is the telecommunications contract vehicle ever awarded by the federal government. CenturyLink won a task order to provide Wide Area Network (WAN) services to the FCC, including private line services and Network-Based Internet Protocol Virtual Private Network Services. This WAN task order was evaluated at $6.99 million over the next five years $1.23 million for the first year and $5.76 million over the following four years if all four one-year options are exercised. The Company also won a task order to provide Managed Trusted Internet Protocol Services (MTIPS) to the FCC. The MTIPS task order was evaluated at $2.64 million over the next five years $472,000 for the first year and $2.17 million over the following four years if all four one-year options are exercised. Full Article
Fitch Rates Qwest Corporation's Proposed Senior Unsecured Notes Offering 'BBB-'
(The following statement was released by the rating agency) CHICAGO, May 14 (Fitch) Fitch Ratings has assigned a 'BBB-' rating to Qwest Corporation's (QC) proposed offering of senior unsecured notes due 2053. Proceeds are expected to be used to partially repay $750 million of senior unsecured notes maturing on June 15, 2013. QC is an indirect wholly owned subsidiary of CenturyLink, Inc. (CenturyLink). QC's and CenturyLink's Issuer Default Rating (IDR) is 'BB+'. The Rating Outlook is Stable.
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