Communications Services Up as Defensive Bias Spurs Verizon — Communications Services Roundup
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Dow Jones
Communications services companies rose as traders rotated into defensive niches such as cell-phone carriers.
Verizon Communications rose sharply even after Chief Executive Hans Vestberg said the carrier was going to take a very disciplined approach to renovating its smartphone offering as Apple unveiled the latest version of its iPhone.
AT&T shares rose, too. Shares of more economically sensitive concerns, such as Warner Discovery Media, sold off.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
September 10, 2024 18:36 ET (22:36 GMT)
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