Communications services companies fell as investors hedged their bets on the outlook for media consumption.
Shares of ViacomCBS rose sharply. Earlier this week, Viacom said it would make some of the biggest releases from its studio available about two months after cinema premieres on its new Paramount + service.
Shares of cinema chain AMC Entertainment fell slightly in wild trading as Reddit day traders doubled down on "meme stocks." Rival Cinemark rose after its quarterly revenue was better than feared, thanks to a trickle of movie-goers returning to theaters, particularly in Australia, Japan and China.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
02-26-21 1741ET
