Communications services companies fell as traders hedged their bets on the outlook for growth.

Venue operator Live Nation Entertainment shares rose after its quarterly earnings suggested ongoing growth in demand for live music.

Warner Bros. Discovery shares slid after the company posted a wider-than-expected fourth-quarter loss and revenue that fell short of estimates, weighed down by weak ad revenue and the impact of the recent writers and actors strikes.

Deutsche Telekom forecast growth in adjusted earnings would pick up this year, supported by its U.S. and European operations, but reported a fall in net profit for the fourth quarter.

Write to Rob Curran at

(END) Dow Jones Newswires

02-23-24 1804ET