Communications services companies ticked higher as trader sentiment held steady in a holiday-shortened week.

Netflix is benefiting from continued cord-cutting from traditional pay-TV services, with earnings growth accelerating to $3.73 a share in the third quarter. For the full year, analysts now forecast 23% EPS growth, followed by an even-bigger 30% gain in 2024.

AT&T stock is down about 12% this year, and director Stephen J. Luczo recently bought a large block of shares of the media and telecom firm. Luczo paid $971,875 on Nov. 13 for 62,500 AT&T shares, an average price of $15.55 each. According to a form that he filed with the U.S. Securities and Exchange Commission, Luczo purchased the stock through a trust that now holds 395,500 AT&T shares. He also owns another 167,000 AT&T shares through another trust.


Write to Zaeem Shoaib at zaeem.shoaib@wsj.com


(END) Dow Jones Newswires

11-22-23 1559ET