- Earnings season has largely faded to a close in the Communications Services sector, but for better or worse that's still the news that's driving the group's weekly top gainers and losers.
- Overall, the sector was in the middle of the pack for the week with a 0.74% gain overall - not as good as Materials, which rose 2.7% as a group for the week, but better than Energy, down 0.8% as a sector.
- And the top gainer (among small-cap stocks and larger) was CuriosityStream (NASDAQ:CURI), up 18% almost entirely off its Wednesday move following Tuesday earnings where the company topped revenue expectations and indicated its paying subscriber count was up 40% year-over-year. It also guided for full-year revenue growth of 80%.
- Also joining top gainers off earnings was fuboTV (NYSE:FUBO), up 10% for the week. Shares rose 11.1% on Wednesday after a report full of metrics up by 100% or more, and Roth Capital Partners suggesting there's 45% more upside ahead.
- Italian comms service provider Kaleyra (NYSE:KLR) also rose 10% on the week, almost all on Monday after its own beat-and-raise in Q2.
- Meanwhile, live by the print, die by the print: The top loser in the sector for the week (small-caps or larger) was Chicken Soup for the Soul Entertainment (NASDAQ:CSSE), down 28% for the period. It legged down Thursday after missing expectations on top and bottom lines.
- Groupon (NASDAQ:GRPN) reported earnings last week - and initially jumped by as much as 17% on Friday, Aug. 6. But that was before late in its conference call, when its chief financial officer signaled some weakness in its Goods business that it expected would continue in the remainder of 2021.
- The stock flipped to double-digit losses, and has been on the daily slide in the five sessions since, down 18.5% this week.
- The week's top five gainers among Communications Services stocks ($300M market cap or more):
- CuriosityStream (CURI), +18.4%;
- Cinedigm (NASDAQ:CIDM), +14.2%;
- FuboTV (FUBO), +10%;
- SciPlay (NASDAQ:SCPL), +9.9%;
- Kaleyra (KLR), +9.9%.
- The week's top five decliners among Communications Services stocks ($300M market cap or more):
- Chicken Soup for the Soul Entertainment (CSSE), -28.2%;
- Groupon (GRPN), -18.5%;
- NeoGames (NASDAQ:NGMS), -14.5%;
- Magnite (NASDAQ:MGNI), -14.1%;
- WideOpenWest (NYSE:WOW), -13.7%.