Communications Services Down on Rotation to Defensive Sectors — Communications Services Roundup

Communications-services companies ticked down as traders rotated into more defensive sectors.

AT&T and T-Mobile US recouped a modicum of their losses following the surprise change in rival Verizon's leadership, but traders were still braced for the first shot in yet another cellphone price war.

"The market is clearly worried about Verizon becoming more aggressive again in wireless to defend share," said Sam McHugh, head of telecom equity research at brokerage BNP Paribas, as reported earlier.

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