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Communications Services Up On Reopening Optimism -- Communications Services Roundup

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06/01/2020 | 05:09pm EDT

Communications services companies rose as investors sought out economically sensitive sectors.

Shares of media companies with more to gain from economic rebound, including Walt Disney, were bigger gainers than the more defensive telecom carriers, including Verizon Communications, which lost ground.

Some Facebook employees staged a virtual walkout Monday to protest Chief Executive Mark Zuckerberg's decision to allow a post from President Trump about the recent social unrest, comments they believed violated the company's rules about inciting violence.

Alphabet's YouTube service is negotiating with advertisers for rates akin to those for television and streaming service, arguing that its content is increasingly consumed in a similar fashion to those platforms, The Wall Street Journal reported.

 

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

Stocks mentioned in the article
ChangeLast1st jan.
FACEBOOK -1.74% 233.42 Delayed Quote.13.72%
THE NEW HOME COMPANY INC. 0.63% 3.2 Delayed Quote.-31.33%
VERIZON COMMUNICATIONS 0.22% 54.79 Delayed Quote.-10.77%
WALT DISNEY COMPANY (THE) -0.73% 112.18 Delayed Quote.-22.44%
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