Communications services companies tumbled as traders retreated from risky sectors, bracing for a hit to global economic activity from spiralling inflation.
Limelight Networks agreed to buy Yahoo's Edgecast unit in an all-stock deal that values the provider of edge security, content delivery and video services at about $300 million.
Shares of Facebook parent Meta fell by more than 6%. America250 Foundation, a nonprofit planning the government's observance of the American Revolution's 250th anniversary, has signed a deal with Meta Platforms giving Facebook's parent an inside role in producing and promoting the Semiquincentennial commemoration, despite objections from some staff members, The Wall Street Journal reported.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
03-07-22 1742ET
