Communications services companies rose as traders anticipated more deals in the sector.

Paramount Global shares ticked up as investors digested the ramifications of Skydance Media's complex takeover transaction. "We see some important benefits for Paramount in this merger, including: (1) a degree of deleveraging, (2) leadership that we think will strengthen Paramount's creative engine and relationships with the creative community, and (3) building stronger tech DNA ... in order to improve the user experience and increase engagement," said analysts at brokerage Deutsche Bank.


Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

07-09-24 1739ET