Videogame names lead Communications weekly gainers amid M&A rush
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A newsy week for the Communications Services sector told the story of its weekly movers: the (few) gainers and the (many, many more) decliners.
The XLC Select Sector SPDR fund wrapped up the week down 2.9% as the stock market at large saw some lowlights in the past several days.

The Communications stocks are down 7.5% as a group year-to-date; its performance is just eighth-best among the 11 S&P 500 sectors.
The sector's weekly gainers were spurred by the promise of transformative merger/acquisition action in the videogame sector. The biggest winner by far among large-cap names was Activision Blizzard (NASDAQ:ATVI), up 26.8% for the week after a deal to be acquired by Microsoft at a substantial premium.
It was just ahead of Take-Two Interactive Software (NASDAQ:TTWO), which gained 6.4% in a rebound week after its $12.7 billion deal for Zynga put it among last week's top losers. And Electronic Arts was third-best with a 6.2% gain as speculation swirled about which videogame maker might be next in the M&A ring.
(An indication of how bad the week was: Baidu (NASDAQ:BIDU) was the week's fifth-best gainer after rising just 2.8% over that period.)
The biggest loser came largely on Friday, as Netflix (NASDAQ:NFLX) topped the large-cap decliners list with a weekly pullback of 23.4%, 21.8% of that drop all on Friday. That came in response to an earnings report where the company disappointed investors and analysts with its user growth for the quarter.
Yandex (NASDAQ:YNDX), embroiled in antitrust claims, was the No. 2 large-cap decliner, down 18.4% for the week. Snap (NYSE:SNAP) was just behind it, dropping 16.3% for the week as one of many non-profitable tech companies that have fallen sharply from favor of late.
The week's top five gainers among large-cap Communications Services stocks and larger ($10B market cap or more):
Activision Blizzard (ATVI), +26.8%;
Take-Two Interactive Software (TTWO), +6.4%;
Electronic Arts (NASDAQ:EA), +6.2%;
TelefÃ´nica Brasil (NYSE:VIV), +4.4%;
Baidu (BIDU), +2.8%.
The week's top five decliners among large-cap Communications Services stocks and larger ($10B market cap or more):
Netflix (NFLX), -23.4%;
Yandex (YNDX), -18.4%;
Snap (SNAP), -16.3%;
Sea Limited (NYSE:SE), -14.5%;
Roblox (NYSE:RBLX), -14%.