Communications stocks have another rough week, led down by techs, Chinese names

Key Facts

• hernan4429/iStock via Getty Images Communications Services stocks declined for yet another week, with the market feeling more pressure from inflation and conflict in Ukraine, and growth-oriented techs continuing to cede some ground.
• And a newsy week for Discovery (NASDAQ:DISCA) - the company continued pursuing debt for its combination with WarnerMedia and shareholders approved the deal - still ended with that stock off by double digits compared to the week prior.
• The top five gainers over the past week among large-cap Communications Services stocks and larger ($10B market cap or more): Liberty Braves Group Series A (BATRA), +5.8%; Telkom Indonesia (TLK), +5.7% WPP (NYSE:WPP), +5%; Liberty Broadband Series A (LBRDA), +2.7%; * América Móvil (NYSE:AMX), +2.5%.
• The top five decliners over the past week among large-cap Communications Services stocks and larger ($10B market cap or more): Baidu (BIDU), -19.2%; Roku (ROKU), -14.5%; Twilio (TWLO), -11%; Discovery (DISCA), -10.8%; * Snap (NYSE:SNAP), -9.2%.

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