Communications stocks dip for week, but Alphabet, Netflix make gains
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Communications stocks returned to downward movement for the past week - a week after the sector pulled off a broad rally - as economic uncertainty reigned in the past several days, including fretting about a potential recession even amid a strong jobs report.
The Communication Services Select Sector SPDR Fund (XLC) fell 1% over the past five sessions, in line with a broader market drop as S&P 500 stocks fell just over 1% for the week.
Alphabet (NASDAQ:GOOG) (NASDAQ:GOOGL) was tops among big-company gainers over the past five sessions. The stock rose 6% over that period, and GOOG is stringing together a good couple of weeks: Since an intraday low of $2,045.28 on May 24, the stock is up 12%.
Netflix (NFLX), meanwhile, had a recently rare up week during which it celebrated a big Memorial Day weekend splash for the new season of Stranger Things, as well as a positive note from Guggenheim and another streaming ratings win for its hit Ozark. Netflix stock finished up 4% over the past five sessions.
Meanwhile, the large-cap losers list was led by foreign telecoms, often a defensive choice in market downturns. AmÃ©rica MÃ³vil (NYSE:AMX) fell 7.1% for the period; Vodafone (NASDAQ:VOD) slipped 6.5%; and France's Orange (ORAN) fell 5.6%, while Lumen Technologies (LUMN) - last week's top large-cap gainer with a 13% increase - gave some back this week, falling 5.4% for the period.
Paramount Global (PARA), meanwhile, also took a hit, falling 4.9% over the past five sessions, and dinged on Thursday by a downgrade at Wolfe Research.
The top five gainers over the past five sessions among large-cap Communications Services stocks and larger ($10B market cap or more):

Alphabet Class A (GOOGL), +6.3%;
Alphabet Class C (GOOG), +5.8%;
Match Group (MTCH), +5.6%;
Baidu (BIDU), +5.3%;
Netflix (NFLX), +4%.

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

AmÃ©rica MÃ³vil (AMX), -7.1%;
Vodafone (VOD), -6.5%;
Orange (ORAN), -5.6%;
Lumen Technologies (LUMN), -5.4%;
Paramount Global Class B (PARA), -4.9%.