Telecoms Lower as Traders Swap Defensive Stocks for Financials -- Telecoms Roundup

Features Dow Jones Newswires

Shares of telecommunications companies ticked down as traders rotated out of defensive, dividend-oriented sectors and into financials and technology stocks.

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The timing of Apple's smart-phone launches will likely affect earnings growth for mobile carriers. "We believe the later iPhone X launch will shift both promotional activity and net adds from the third quarter into the fourth quarter, including for T-Mobile," said analysts at brokerage Nomura Securities, in a research note. The Federal Communications Commission's recent finding of competitiveness in the wireless market is a hopeful sign for T-Mobile investors, in that it makes a merger with Sprint slightly more feasible, the Nomura analysts said.

AT&T's DirecTV said it would offer refunds to customers of its "Sunday Ticket" National Football League coverage who cancelled service because of player protests during the national anthem. The action appeared to be a response to comments from President Donald Trump, who has called for something like a consumer boycott of the NFL because of the protests about racial injustice. The protests became more widespread last week, as players and league officials pushed back.

Rob Curran, rob.curran@dowjones.com

(END) Dow Jones Newswires

September 27, 2017 17:02 ET (21:02 GMT)