Communications stocks slide 5% for week, leaving few gainers
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Another week, another stock-market sell-off that landed heavily on technology names as well as Communications stocks - which managed a deeper dive for the week than last week's more modest 1% drop.
The Communication Services Select Sector SPDR Fund (XLC) slid 4.9% over the past five sessions, in line with the broader sell-off as S&P 500 stocks fell just over 5% for the week.
That fall was bad enough, in fact, that among large-cap Communication Services stocks, the top-five gainers list had only four stocks to its name - the only ones making positive ground. All other big names in the group declined.
And those large-cap gainers were led easily by Chinese online entertainment name Bilibili (NASDAQ:BILI), up 8% for the week - though the stock was up as much as 25.6% by Wednesday (when game makers surged on more approvals from Beijing) before an end-of-week cool-down (after an earnings miss and soft guidance).
NetEase (NASDAQ:NTES) was next, up 3.2% for the week and also benefiting from China's game approvals - just ahead of Take-Two Interactive Software (TTWO), up 0.8% on a week where it legged up to start the week and benefited from a new Thursday Overweight rating at J.P. Morgan before Friday's broad market meltdown.
The only other gainer among large-caps for the weeklong period was Verizon, closing up a single penny ($50.82) from last Friday's close of $50.81.
Losers were evidently more plentiful. Warner Bros. Discovery (NASDAQ:WBD) topped those with a 15.1% drop for the week; it tended to take its losses on Thursday and Friday along with the broader market. Twilio (NYSE:TWLO) and TelefÃ´nica Brasil (VIV) weren't far behind, dropping 10.8% and 10.7% for the week respectively.
And Spotify (SPOT) made the list with an 8.9% decline for the week, despite a Monday upgrade from Raymond James and a surge from Wednesday's Investor Day (its second), as well as analyst praise about its plans to boost margins.
The only four gainers over the past five sessions among large-cap Communications Services stocks and larger ($10B market cap or more):

Bilibili (BILI), +8%;
NetEase (NTES), +3.2%;
Take-Two Interactive Software (TTWO), +0.8%;
Verizon (VZ), +0.02%.

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

Warner Bros. Discovery (WBD), -15.1%;
Twilio (TWLO), -10.8%;
TelefÃ´nica Brasil (VIV), -10.7%;
WPP (WPP), -9.4%;
Spotify (SPOT), -8.9%.