Communications Services Up On Session, Snap Rallies After Hours -- Communications Services Roundup

Communications services companies rose slightly ahead of key earnings reports.

Netflix shares slid after hours as the streaming giant's quarterly earnings were shy of Wall Street estimates. Shares of Snapchat owner Snap rallied after the social network's quarterly earnings surpassed Wall Street targets.

The reshuffling of studio executives continued as CBS followed Warner Brothers' efforts to reorient leadership toward the age of streaming. ViacomCBS named current Pluto TV Chief Executive Tom Ryan as head of the entire ViacomCBS Streaming unit. In that capacity, he will oversee CBS All Access, which will be renamed Paramount+ in early 2021, and Pluto TV, and have oversight of the media conglomerate's global streaming strategy.

 Write to Rob Curran at [e-mail] 

(END) Dow Jones Newswires

10-20-20 1706ET