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Communications-services companies declined as investors retreated from risk, though results varied across the sector: News Corp. fell sharply after its latest earnings disappointed some investors, while Nexstar gained on strong revenue growth.
News Corp. shares posted their largest loss in recent years after the publisher reported quarterly earnings growth that fell short of some investors’ expectations. News Corp. owns this newswire.
Nexstar, the largest local-television station operator in the U.S., rose after reporting brisk revenue growth, supported by its recent acquisition of rival Tegna.
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