Communications services rose as the battle between day traders on Reddit and major hedge funds caused volatility in the sector.
Cinema chain AMC Entertainment, one of the highest profile bets for investors clubbing together on message-board Reddit, plunged as trading app Robinhood and other firms blocked trades of the company's stock.
Shares of data network concern Lumen Technologies saw its biggest-ever percentage decline after analysts at brokerage Morgan Stanley cut their rating on the company, warning that recent gains were "primarily driven by technical factors such as short covering."
Comcast shares rallied after the cable and production giant posted a 6.9% rise in fourth-quarter net profit, boosted by continued growth at its broadband business, while the coronavirus pandemic continued to pressure its movie and theme-park units.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
01-28-21 1737ET
