Communications services companies fell in volatile trading as traders continued to retreat from richly valued growth sectors.

Verizon Communications shares were more or less flat after the cell-phone carrier said the recent purchase of TracFone boosted fourth-quarter revenue. Verizon executives said limits on its 5G expansion haven't hurt its ability to connect customers, though the wireless company is still waiting for firm government rules on where its signals can reach in the months ahead.

Shares and bonds of cinema chain AMC Entertainment Holdings continued their retreat, reversing most of their gains since the cinema chain became a meme-stock favorite in 2020, increasing the urgency of a refinancing deal that AMC is reportedly pursuing.


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

(END) Dow Jones Newswires

01-25-22 1724ET