As of October 3, 2024, two stocks in the communication services sector, Madison Square Garden Sports Corp (MSG) and Sohu.com Ltd (SOHU), are exhibiting overbought signals based on their RSI values. These signals could be a warning for investors who prioritize momentum in their trading decisions.
The communication services sector is presenting opportunities for investors to buy undervalued companies. Several stocks within the sector are considered oversold, exhibiting a Relative Strength Index (RSI) below 30. This article highlights three such oversold stocks – comScore Inc, SPAR Group Inc, and iQIYI Inc – and provides insights into their recent performance and potential future prospects.
Amidst market volatility, investors often turn to dividend-yielding stocks. This article highlights the latest analyst ratings for three high-yielding companies in the communication services sector: Verizon, AT&T, and TEGNA. The information is sourced from Benzinga’s database of analyst ratings and their accuracy rates.
The Communication Services sector within the S&P 500 experienced a mixed bag of performances, with some companies posting significant gains and others facing losses. Chicken Soup for the Soul Entertainment led the gainers with an impressive 155% surge, while Direct Digital Holdings suffered the largest decline at 14%. Other notable performers among the gainers include Ribbon Communications (+28%), Bilibili (+11%), iClick Interactive Asia Group (+10%), and Trump Media & Technology Group (+9%). In contrast, Dolphin Entertainment (-9%), Kuke Music Holding (-9%), Travelzoo (-8%), and Spotify Technology S.A. (-7%) faced setbacks. The sector was largely influenced by the performance of its various sub-sectors, with Telecommunication Services showing a 0.5% gain while Media & Entertainment declined by 0.6%.
U.S. stocks traded higher towards the end of trading on Tuesday, with the S&P 500 gaining more than 1%, while the Dow and NASDAQ also rose. General Motors Company reported better-than-expected earnings for its fiscal first quarter, with quarterly sales growth of 7.6% year-on-year. Communication services and materials sectors were the leading and lagging sectors, respectively. In commodity news, oil traded up 1.8% while gold traded down 0.2%. European and Asian markets closed mostly higher, with the eurozone’s STOXX 600 rising 1.09% and Japan’s Nikkei 225 gaining 0.30%. Sales of new single-family houses jumped 8.8% in March, while the S&P Global services PMI and composite PMI fell to 50.9 and 50.9, respectively.
