In something of a rebound week for the market, Communications stocks led the broader market higher along with consumer and tech names, while energy and utilities took the losses in post-holiday trading.
The Communication Services Select Sector SPDR Fund ( XLC ) rose 3.5% over the past five sessions, and Communication Services as a sector rose 4.9% in that span, tops among the 11 S&P 500 sectors .
The S&P 500 rose 1.9% in that period, with the SPDR S&P 500 Trust ETF ( SPY ) up 1.95% .
And for Communications, the way back is led again by some downtrodden stocks. Four of the top five large-cap gainers in Communication Services this week were also in the top five two weeks ago amid some bargain hunting: Roblox ( NYSE: RBLX ), up 25.5% over five sessions; Roku ( ROKU ), up 14.9% in that span; Snap ( SNAP ), rising 13.9% in the period ; and Pinterest ( PINS ), +11.5% .
They were joined by Singapore-based digital entertainment name Sea Limited ( NYSE: SE ), +15.9% over five sessions. But like the others, Sea was one of the very worst-performing large-caps in the sector for the first half of 2022, down 68.7% for the six months. (Roblox, Roku, and Pinterest were all there as the second half began, too, each more than 50% lower than when they started the year .)
Communications decliners in an otherwise upbeat market week were the traditional defensive names in telecoms. The top loser among large-cap stocks in the sector was French telecom Orange ( NYSE: ORAN ), -8.8% over five sessions - though it was pushed by Spain's Telefónica ( NYSE: TEF ), down 6.2% .
Shaw Communications ( SJR ) joined them on that list, though it saw its key decline come Wednesday after the failure of mediation efforts with Canadian regulators over its planned acquisition by Rogers Communications ( RCI ). Shaw shares dipped 3.8% on Thursday.
Ad agency giant WPP ( WPP ) fell 5.5% for the week as it was swept up in a Goldman Sachs cut of media/Internet coverage, on expectations for a more cautious macro outlook.
The top five gainers over the past five sessions among large-cap Communications Services stocks and larger ($10B market cap or more):
- Roblox ( RBLX ), +25.5% ;
- Sea Limited ( SE ), +15.9% ;
- Roku ( ROKU ), +14.9% ;
- Snap, +13.9% ;
- Pinterest ( PINS ), +11.5% .
The five worst performers over the past five sessions among large-cap Communications Services stocks and larger ($10B market cap or more):
- Orange ( ORAN ), -8.8% ;
- Telefónica ( TEF ), -6.2% ;
- WPP ( WPP ), -5.5% ;
- Shaw Communications ( SJR ), -5.1% ;
- Formula One Group Series C ( FWONK ), -3.8% .
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Communications stocks top week's market gainers, led by 2022's dogs