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Communications Services Shares Move Higher -- Communications Services Roundup

10/09/2020 | 04:13pm EST

Communications services companies rose as investors took on more risk amid optimism for an economic stimulus plan from Washington.

Twitter will make it harder for posts to go viral ahead of the U.S. election, including by putting limits on how users can retweet. The moves unveiled Friday, which also include pointing users viewing certain tweets to credible content, are among the boldest yet for the social-media platform and are designed to slow the spread of misinformation.

The Trump administration is appealing a federal court injunction blocking it from imposing a download ban on TikTok, the Chinese-owned video-sharing app that the government contends poses a national-security threat. In court papers filed Thursday, the federal government asked the U.S. Court of Appeals in Washington to review a Sept. 27 ruling from a U.S. District Court judge who halted the download ban hours before it was scheduled to take effect. Separately, Pakistan banned TikTok on Friday for carrying what it called indecent content, making it the latest country to restrict the wildly popular app.

Frontier Communications and the investment bank that guided it through bankruptcy, Evercore Group LLC, were told by a judge Thursday to go back to the drawing board on their fee arrangement, which creditors had called too pricey. Judge Robert Drain ordered changes to be made before he approves the fee deal. His ruling came after a hearing that offered a window into the world of bankruptcy advisers, a small group of investment banks that command tens of millions of dollars in fees for selling company assets, corralling creditor support, and finding new money for troubled companies.

 Write to Amy Pesseto at amy.pesseto@dowjones.com 

(END) Dow Jones Newswires

10-09-20 1813ET

Stocks mentioned in the article
ChangeLast1st jan.
EVERCORE INC. 2.83% 90.7 Delayed Quote.18.12%
FRONTIER COMMUNICATIONS CORPORATION -1.25% 0.1028 Delayed Quote.-88.41%
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