Communications services companies fell as traders rotated out of cyclical sectors.
ESPN agreed to a $2 billion deal to allow its brand to be used in Penn Entertainment's online sportsbook, a strategic turn for both companies as they try to tap into the sports-betting sector's growth. Rival sports-betting concern DraftKings fell sharply.
Shares of KVH Industries plunged, losing almost one-third of their value, after the satellite communications company cut its 2023 revenue projection after second-quarter sales fell.
India's parliament passed a data-protection bill set to give New Delhi more power over the operations of Meta Platforms, X, and others.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
08-09-23 1738ET
