Communications services shares climbed. Aoifinn Devitt, chief investment officer at Moneta, said consumer strength and declining stock valuations are helping to lift the outlook for stocks, which have generally fallen in 2022.
"Word on the street is that this is a good entry point-that equities have sold off so much they've been overdone," Ms. Devitt said.
Personnel news continued in the sector. The departure of Sheryl Sandberg as Meta Platforms' chief operating officer will lead to a shuffling of the Facebook parent's leadership.
But Mark Zuckerberg, the company's co-founder, chairman and chief executive, has already been reordering the executive ranks in recent years, leaving him with a core group of aides-several of whom have been there even longer than Ms. Sandberg-who have amassed growing power in recent years.
Warner Bros. Discovery Inc. said it had tapped industry veterans Mike De Luca and Pam Abdy to lead Warner Bros. Pictures Group in CEO David Zaslav's latest leadership shake-up.
Infowars is jettisoning its bankruptcy case after families of Sandy Hook school shooting victims who are suing the conspiracy site's founder, Alex Jones, withdrew from the chapter 11 process.
Properties holding the trademark and web-domain rights to Infowars agreed Wednesday to dismiss their chapter 11 cases as part of a stipulation with the Justice Department's bankruptcy watchdog, which has questioned the basis for the bankruptcy.
Write to Amy Pessetto at amy.pessetto@dowjones.com
(END) Dow Jones Newswires
06-02-22 1720ET
