Telecoms Flat After Strong Earnings Season - Telecoms Roundup

Shares of telecommunications companies were more or less flat after a strong earnings season.

In a quarter when an unusually large number of companies have reported earnings ahead of Wall Street estimates, the telecommunications sector has been particularly strong, according to one brokerage. "The standout sectors have been telecoms (the largest net sales and earnings surprise of any sector)," said analysts at brokerage Credit Suisse, in a research note.

Discovery Communications agreed to buy Scripps Networks Interactive for $11.9 billion, as it doubles down on "lifestyle programming" in the form of channels such as HGTV and Food Network.

HBO, home of "Game of Thrones," is the latest entertainment company to be hacked and have its content leaked online. In a memo to staff, HBO Chief Executive Richard Plepler confirmed that proprietary information including some of its shows was recently stolen, with episodes of the comedies "Ballers" and "Room 104" and the script for a coming episode of "Game of Thrones" reportedly posted online.

-Rob Curran,

(END) Dow Jones Newswires

July 31, 2017 16:44 ET (20:44 GMT)