Communications services companies rose as traders hedged their bets ahead of Netflix earnings.

Shares of the streaming giant fell about 1% ahead of its report, and losses compounded after its subscriber additions were not as robust as anticipated.

Swedish telecom-equipment company Ericsson laid off 240 employees in China, part of a restructuring in the country that will affect one of its largest research hubs globally.

Shares of Iridium Communications rose after the global voice and data satellite company reported first-quarter earnings and revenue above Wall Street expectations.

Nokia said the first quarter marked the low point in mobile networks demand, and projected a pickup in demand during the balance of 2024 as carriers resumed network upgrades to serve new smart-phone demands.

Write to Rob Curran at

(END) Dow Jones Newswires

04-18-24 1748ET