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Communications-services stocks advanced as investors favored defensive cell-phone carriers, offsetting weakness among some cable companies. Optimum Communications fell on concerns about its debt, while videogame publisher Take-Two Interactive Software gained ahead of a major release.
Optimum shares slid after The Wall Street Journal reported that investors were concerned about the debt amassed by the cable company, which is controlled by French billionaire Patrick Drahi.
Take-Two Interactive Software rallied after the videogame company reported a narrower quarterly loss. Its gain came ahead of the highly anticipated release of “Grand Theft Auto VI” later this month.
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