Communications services Down On Rotation Out Of Growth Sectors -- Communications Services Roundup

Communications services companies ticked down as traders rotated out of growth sectors in light of rising Treasury yields.

Verizon Communications closed its $6.25 billion purchase of prepaid cellular-service provider TracFone Wireless from Mexican rival America Movil, cementing its lead in the U.S. cell-phone services market.

Terra Field, a Netflix employee, who was a vocal advocate against Dave Chappelle's stand-up special "The Closer," said she has resigned from the streaming company.

Zoom Video Communications tumbled after the video-conferencing concern, which became a hot stock because of its popularity during Covid 19 lockdowns, reported decelerating growth in customers from mid-sized and large companies.

Write to Rob Curran at [e-mail]

(END) Dow Jones Newswires

11-23-21 1708ET