Communications services companies rose as traders bet on further deal activity in the sector.
Verizon closed the sale of its media assets, including landmark internet brands AOL and Yahoo, to a unit of private-equity firm Apollo Global Management, shifting a 90% stake in online news, sports and advertising operations to Apollo for $4.25 billion.
Shares of Zoom Video Communications recouped some of their Tuesday losses, but remain in bear-market territory, amid skepticism that the videoconferencing concern can recapture the growth rates seen in the depths of the pandemic.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
09-01-21 1724ET
