G0d4ather/iStock via Getty Images
Communications Services stocks ended up with a flat week, mirroring a broader market that rallied into a Friday close only to finish the week narrowly pulling even.
The sector’s stocks were down 0.1% for the week as a whole, and the Communication Services Select Sector SPDR Fund (XLC) wrapped up 0.1% higher. That marks a fall-off from last week, when Communications stocks rose 1.8%.
Overall, though, several sector winners kept winning and losers kept losing, as a number of stocks repeated among the best- and worst-performing stocks in the sector for the week.
AMC Entertainment (NYSE:AMC) was last week’s top Communications gainer with a 28% increase, and it topped large-cap gainers again this week, up 21.8% over that span. The stock jumped 44.9% on Monday alone, enough to make up for other declines during the week. And AMC chief Adam Aron is reportedly looking to his board to endorse making more investments in distressed companies along the lines of his goldmine investment.
Formula One share classes (FWONA, FWONK) also repeated among top gainers the week after its season opener in Bahrain. And once again, foreign telecoms filled out the rising stocks, with Rogers Communications (NYSE:RCI) inching closer to a successful takeover of Shaw, and Telefônica (TEF) rising 4.4%, fourth-best for the week among large-caps.
Top decliners had some repeat names from last week as well: Roblox (RBLX) and Pinterest (PINS) were among last week’s top-five losers, and they’re back this week with declines of 9% and 6.6% respectively. And the volatility chart wouldn’t be complete without an entry from Chinese techs: The top two large-cap Communications decliners were Bilibili (NASDAQ:BILI), down 15.6% for the week, and Baidu (NASDAQ:BIDU), down 12.2% over that span.
The top five gainers over the past week among large-cap Communications Services stocks and larger ($10B market cap or more):
- AMC Entertainment (AMC), +21.8%;
- Rogers Communications (RCI), +6.4%;
- Formula One Group Series C (FWONK), +5.9%;
- Telefônica (TEF), +4.4%;
- Formula One Group Series A (FWONA), +4.1%.
The top five decliners over the past week among large-cap Communications Services stocks and larger ($10B market cap or more):
