Communications services companies rallied amid strong demand for cyclical stocks.

Liberty Media said third-quarter net income and revenue fell slightly as growth in its satellite-radio and car-racing holdings offset the impact of its spinoff of the Atlanta Braves baseball team during the period. The firm, controlled by billionaire John Malone, owns majority stakes in SiriusXM and Formula 1 car-racing franchise, and a minority stake in concert promoter Live Nation Entertainment.

Netflix may push further into life sports, potentially airing a match featuring boxer and YouTube influencer Jake Paul, and possibly poaching boxing fare from rival Paramount's Showtime, The Wall Street Journal reported.

Cinemark shares rose sharply after the cinema chain logged better-than-anticipated earnings growth. A series of hit movies, starting with "Barbie" and "Oppenheimer" in the summer, have brought Americans back to movie theatres in droves for the first time since the onset of the pandemic.

Write to Rob Curran at

(END) Dow Jones Newswires

11-03-23 1738ET