Communications services companies fell amid concerns about intense streaming competition.
Walt Disney shares surged after the entertainment conglomerate named Robert Iger as chief executive, reappointing the 15-year leader of the Mouse House after the weekend ouster of his successor Bob Chapek, under whom the company had struggled with spending on its streaming service and other issues.
It was Disney's largest gain since December 2020. Michael Bass, CNN's programming chief and a longtime ally of former President Jeff Zucker, will leave the news network at the end of the year.
Elon Musk continued his job-cutting program at Twitter.
Paramount will not support the appeal of a ruling that blocked the planned $2.18 billion sale of its Simon & Schuster book-publishing unit to rival Penguin Random House.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
11-21-22 1706ET
