RBLX - Communications stocks gain in week with AMC Roku leading way forward

In a week where the broader market eked out a gain despite declining in four of the five sessions, Communications stocks were again on the upside among sectors.

The S&P 500 rose 0.4% for the period, a bit of a comedown after last week's strong 4.3% gain . But while sectors like Energy and Healthcare declined, Communication Services stocks rose 1.7% for this week, and the Communication Services Select Sector SPDR Fund ( XLC ) rose by 1.3% over that period.

And large-cap advancers were led by the once and future meme stock, movie theater operator AMC Entertainment ( NYSE: AMC ), which put the button on a week of five straight advances with an 18.9% gain Friday. The stock rose 52.3% for the week, all told, and Thursday after the bell brought earnings - and news of a new preferred stock issue that could theoretically upend the company's capital structure in the future .

Other top advancers included some favorite dogs of 2022. Last week, Roku ( NASDAQ: ROKU ) capped a week where it reported downbeat earnings and fell 26% ; it rebounded this week to a 25.6% gain .

Third-best among large-cap stocks was Pinterest ( PINS ), which reported earnings Monday featuring revenues in line with expectations and an important vote of confidence from top investor Elliott Management . The stock rose 15.8% for the week.

Turning to decliners, advertising giant NYSE: WPP topped large caps by falling 8.4% for the week - all of that on Friday, after its earnings outlook was seen as disappointing compared to rivals.

Formula One Group ( NASDAQ: FWONA ) ( FWONK ) also joined top losers by falling more than 7% for the week - like WPP, mostly on Friday after it reported its own earnings .

And Match Group ( MTCH ) did it own earnings reset Wednesday after it missed revenue forecasts and issued a downbeat outlook for the second half in revenues . The stock fell 7.5% for the week.

The top five gainers over the past five sessions among large-cap Communication Services stocks and larger ($10B market cap or more):

• AMC Entertainment ( AMC ), +52.3% ;
• Roku ( ROKU ), +25.6% ;
• Pinterest ( PINS ), +15.8% ;
• Sea Limited ( SE ), +14.7% ;
• Roblox ( RBLX ), +14.7% .

The five worst performers over the past five sessions among large-cap Communication Services stocks and larger ($10B market cap or more):

• WPP ( WPP ), -8.4% ;
• Formula One Group Series A ( FWONA ), -7.6% ;
• Match Group ( MTCH ), -7.5% ;
• Formula One Group Series C ( FWONK ), -7.2% ;
• Rogers Communications ( RCI ), -5.8% .

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