Communications services companies rose amid deal activity. NBCUniversal has explored putting its regional sports channels on the streaming service Peacock or selling them off, as the company tries to figure out a future for a business under increasing stress, The Wall Street Journal reported. Sports media concern The Athletic has ended merger talks with Internet publisher Axios and has entered talks with the New York Times. Nearly 18 million fake comments were filed with the Federal Communications Commission over its proposal to scale back internet regulation, fueled by both opponents and supporters of the rule, an investigation by the New York attorney general s office found.
Tech Up As Rotation Out Of Sector Slows Tech Roundup
05/06/2021 | 05:36pm EDT
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Message : Shares of technology companies rebounded as a rotation out of the sector slowed. Uber Technologies shares fell sharply after the ride-hailing concern s quarterly earnings were not as hefty as some investors had anticipated, reflecting the impact of a change in status for its U.K. drivers. Uber posted first-quarter revenue of $2.9 billion after setting aside $600 million tied to the U.K. changes. Shares of electric-car makers such as Tesla continued their retreat. Write to Rob Curran at rob.curran@dowjones.com (END) Dow Jones Newswires
Consumer Cos Up On Volatile Session, Amid Inflation, Overheating Concerns Consumer Roundup
05/06/2021 | 05:29pm EDT
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Required fields Shares of retailers and other consumer companies rose in a volatile session as investors shifted from optimism about economic growth to fears about overheating. Worker filings for unemployment benefits in the U.S. reached a new low since the Covid-19 pandemic began more than a year ago, with new jobless claims falling 92,000 last week to 498,000, the Labor Department reported. Restaurants including KFC, Wingstop and Buffalo Wild Wings have warned of rising costs for scarce poultry, with some locations running out of or limiting sales of tenders, fillets and wings, cutting into some of their most reliable sales. The price of chicken breasts has doubled for the year to date, while chicken wings are selling for record high wholesale prices. One strategist said the spike in product prices could co-exist with higher s
Health Care Up On Cyclical Bias Health Care Roundup
05/07/2021 | 05:24pm EDT
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Required fields Health-care companies rose, but not by as much as the broad market, as investors bought into sectors with more to gain from an extension of the Federal Reserve s monetary stimulus. Pfizer and BioNTech asked the U.S. Food and Drug Administration to grant full approval for their Covid-19 vaccine, which already has emergency use approval but faces some limitations on distribution and advertising without the official green light. The Biden administration s unexpected support for temporarily waiving Covid-19 vaccine patents is unlikely to have a short-term impact on drug company profits, according to Wall Street analysts.
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Required fields Shares of retailers and other consumer companies rose as investors bet that a weak jobs report would prevent interest-rates from rising too quickly. Yields on the 10-year Treasury note fell on the week, a development that could foreshadow another downtick in mortgage rates. Meanwhile, investors continue to position themselves for an economic boom as travel and other services industries reopen. As poor as today s jobs growth was relative to what was expected, we still believe the reopening is coming and future months should make up for this miss, said Ryan Detrick, chief market strategist at brokerage LPL Financial, in a note to clients.