Dish, Lumen, Match, Roku lead Communications dip-buying
May 12, 2022 12:43 PM ETNFLX, DISH, GOOG, LUMN, WBD, AMC, GOOGL, MTCH, ROKUBy: Jason Aycock, SA News Editor - Communication services stocks as a sector are making modest gains Thursday, but that's held down by the market weight of Alphabet - GOOG is -0.6%, GOOGL -0.5% - and a number of names at midday are building some outsized gains after recent sell-offs, in what looks like some opportunistic buying.
- Among large-cap communications names, Dish Network (DISH) is seeing the biggest rise. It's up 13% Thursday, after losing 38% of its value over the past month. It's joined by a gain in Lumen Technologies (LUMN), up 8% (Lumen had shed 20% of value over the past six months).
- Match Group (MTCH) is also seeing sharp gains, up 7.4% after slipping 20.7% over the past month. And Netflix's (NFLX) 2022 woes are well known - it's down 71% year-to-date - but the stock is 4.1% higher Thursday.
- Warner Bros. Discovery (WBD) is 4% higher, after dropping 31% over the past month. AMC Entertainment (AMC) is pacing to its first gain in six session, up 6.6%. And Roku (ROKU) is up 11.1%, after declining 24% over the past month and dropping 68% over the past six months.
- AMC originally gained in after-hours trading in the wake of earnings on Monday, but traded lower during regular sessions.