Wall Street Week Ahead: Supercharged Telecom Sector Could Become Investor Favorite [The New York Times]
Meta Platforms, Inc. - Class A (FB)
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Source: The New York Times
By Reuters June 22, 2018 SAN FRANCISCO — An overhauled telecommunications sector featuring most of the so-called FANG stocks could debut as Wall Street's hottest bet when it kicks off in September, boosted by a rising wave of media and television acquisitions. Long viewed as stodgy stocks for dividend-oriented investors, the telecom services sector will be renamed communications services and supercharged with the addition of Facebook, Netflix and Google-owner Alphabet - three of the four FANGs, along with Amazon - as well as other companies that have driven the stock market to record highs in recent years. The changes are part of the largest-ever shakeup of the stock market's broad business categories. In total, 14 S&P 500 companies, including Netflix, will shift from the consumer discretionary sector into communications, joining AT&T, Verizon Communications and CenturyLink in the biggest shakeup of the Global Industry Classification Standard, or GICS, since i
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