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Telecoms Up as Traders Bet on Earnings Strength — Telecoms Roundup – Fox Business

Telecoms Up as Traders Bet on Earnings Strength — Telecoms Roundup – Fox Business

Shares of telecommunications companies ticked up as traders bet the sector would have a good earnings season. Analysts at brokerage Barclays were the latest to recommend telecommunications stocks over utilities for exposure to defensive sectors, arguing that telecoms, in addition to being cheaper, stood a better chance of benefiting from President Donald Trump’s tax plan. Fox News, whose owner 21st Century Fox has ties to News Corp., announced the departure of Bill O’Reilly in the wake of a sexual-harassment scandal, bringing an end to the popular host’s two-decade run at the television network. German media company Axel Springer has made an investment in ride-sharing company Uber, though a spokesperson for the German company described the investment as “minimal” and “financial rather than strategic.”

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-Rob Curran, rob.curran@dowjones.com

(END) Dow Jones Newswires

April 19, 2017 16:56 ET (20:56 GMT)

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