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Author Message   Entrepreneur Kurra Bewarse Username: Entrepreneur Post Number: 3953 Registered: 05-2011 Posted From: 24.164.46.35 Rating: N/A Votes: 0 Posted on Friday, January 21, 2022 - 12:17 pm:    Sector Briefing: Communication Services (73.89 -0.86) The stock market started today's session on a weak note, though it is trying to bounce with the Dow (+0.3%) turning positive in recent trade. However, five sectors continue trading lower with the communication services sector (-1.5%) sitting at the bottom of the early leaderboard. Key factors driving today's performance include: Considerable pressure from a plunge in Netflix (NFLX 386.25, -121.99, -24.0%) after the streaming service's above-consensus EPS was overshadowed by a smaller than expected number of new subscribers. Relative weakness in most other media names, including Disney (DIS 139.45, -8.16, -5.5%), which also operates a streaming service. Notable movers: Netflix (NFLX 386.25, -121.99, -24.0%): weakest performer in the sector, falling to its lowest level since April 2020 after adding fewer subscribers than the market expected in Q4 and guiding Q1 revenue below consensus. Stock was downgraded at Barclays, Morgan Stanley, Truist, Evercore ISI, Robert W. Baird, KeyBanc Capital Markets, and Macquarie while The Benchmark Company upgraded shares. Disney (DIS 139.45, -8.16, -5.5%): falling to its lowest level since mid-November 2020 in sympathy with Netflix. ViacomCBS (VIAC 32.57, -1.16, -3.4%): falling to its 50-day moving average (32.42). Company renewed its affiliate agreement with Nexstar Media Group (NXST 156.98, +1.18, +0.8%). Twitter (TWTR 36.48, -0.80, -2.2%): sliding to its lowest level since August 2020. Discovery (DISCA 26.92, -0.57, -2.1%): falling toward its 50-day moving average (25.60) after finding resistance at its 200-day moving average (28.79) yesterday. Facebook (FB 315.15, -1.41, -0.5%): falling to its lowest level since early December. Electronic Arts (EA 139.80, +0.92, +0.7%): holding just above its 200-day moving average (138.47) after reclaiming that mark yesterday. T-Mobile US (TMUS 104.90, +0.84, +0.8%): touched its lowest level since July 2020 before turning positive. Comcast (CMCSA 50.77, +0.55, +1.1%): rising back to its 50-day moving average (50.67). Omnicom Group (OMC 76.63, +1.09, +1.4%): best performer in the sector, rallying back above its 200-day moving average (75.61).