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Communications Services Up On Growth Bets -- Communications Services Roundup

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07/06/2020 | 05:12pm EDT

Communications services companies rose as investors sought out faster growing sectors.

Shares of Netflix traded at new record highs as analysts at brokerage Canaccord said the company's own content proved particularly popular in the second quarter, vindicating the savvy of investments in adult drama and children's entertainment.

Elliott Management is pressuring cell-phone tower company Crown Castle International to overhaul its approach to its fiber-cable business, which the hedge fund says has weighed on the company's market value despite billions in investment in recent years, as reported earlier.

Facebook and its WhatsApp messaging service, along with Twitter, have suspended processing requests for user data from Hong Kong law-enforcement agencies following China's imposition of a national-security law on the city.

Finnish telecom-equipment giant Nokia is scrambling to make up market share lost to China's Huawei Technologies and Swedish rival Ericsson after backing a less popular microprocessor as the core of its 5G network offerings, The Wall Street Journal reported.

 

Write to Rob Curran at rob.curran@dowjones.com

Stocks mentioned in the article
ChangeLast1st jan.
ERICSSON AB -0.24% 102.35 Delayed Quote.25.80%
FACEBOOK -0.85% 249.83 Delayed Quote.22.76%
NETFLIX, INC. 2.21% 509.64 Delayed Quote.54.10%
NOKIA OYJ 1.26% 4.3295 Delayed Quote.29.72%
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