XLC - Communications stocks resume weekly decline led by Sea Roblox

The week marked a return to 2022 form for Communications stocks, as they led all sectors lower in a period where the broader market broke a four-week winning streak.

The S&P 500 stocks fell 1.2% for the week, and while some sectors gained (notably Consumer Staples, Utilities and Energy), Communication Services led the race to the bottom, its stocks falling 1.3% (and the big-company-weighted Communication Services Select Sector SPDR Fund ( XLC ) slipping 3.1% ).

And the stocks leading the way down have been no stranger to the sector's losers list this year, starting with Singaporean entertainment name Sea Limited ( NYSE: SE ), which dropped nearly 24% after it missed revenue expectations and suspended some guidance in Q2 results . Only slightly better was Roblox ( NYSE: RBLX ), which fell 16.6% for the week after declining slightly during every trading session.

A late-week slide led Spotify ( SPOT ) to a decline of 9.9% over the span. And three down sessions led Match Group to a drop of 9% .

Turning to the few gainers, they were led by Take-Two Interactive Software ( NASDAQ: TTWO ), which eked out a 3.7% rise after a 7% gain on Tuesday lifted the stock past declines for the remainder of the week.

Traditionally defensive telecom names were also represented among the few winners: AT&T ( T ) rose 0.9% as the fourth-best gainer, and Canada's BCE ( BCE ) managed a 0.7% gain .

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

• Take-Two Interactive Software ( TTWO ), +3.7% ;
• Formula One Group Series A ( NASDAQ: FWONA ), +1.8% ;
• Formula One Group Series C ( FWONK ), +1.3% ;
• AT&T ( T ), +0.9% ;
• BCE ( BCE ), +0.7% .

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

• Sea Limited ( SE ), -23.7% ;
• Roblox ( RBLX ), -16.6% ;
• Twilio ( TWLO ), -12.5% ;
• Spotify ( SPOT ), -9.9% ;
• Match Group ( MTCH ), -9% .

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