Telecoms Down as Strong Economic Data Seen Boosting Rates -- Telecoms Roundup
Shares of telecommunications companies ticked lower as strong economic data hastened a rotation into more cyclical areas.
Shares of Dycom slid after the telecom-equipment construction company posted quarterly earnings short of some investors' expectations.
Analysts at brokerage FBR Capital said the struggles in the latest quarter were a mere "hiccup," reflecting AT&T's moderation in spending around the close of its deal to acquire Time Warner.
Rob Curran, [email protected]