Communications services companies rose after strong earnings reports.
Swedish telecom-equipment giant Ericsson reported second-quarter net profit attributable to shareholders of roughly $665 million, up sharply from a year earlier, as increased sales of 5G equipment in North America, Europe and Latin America offset a decline in Chinese business.
Shares of Comcast unveiled a smart TV for the U.S. market, as the cable giant looks to become a dominant distributor of streaming apps and give a boost to its homegrown Peacock service.
Comcast could face tough comparisons with its upcoming third-quarter earnings report, said analysts at brokerage Morgan Stanley, reflecting "the inevitable unwind of Covid related strength over the past 18 months."
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
10-19-21 1701ET
