February 29, 2008 at 1:00 am by Tom Lydon
Fourth-quarter earnings reports among telecommunication companies found in related exchange traded funds (ETFs) were down as of Thursday.
The Associated Press says that Sprint already warned in January that subscriber numbers were lower than what Wall Street expected.
The telecom sector may be wired for a downward trend. Before you hang up, consider Bush’s comments about protecting the phone companies. Could it affect related ETFs?
- iShares Dow Jones US Telecom (IYZ): Down 17.6% year-to-date; among its top holdings are AT&T (T) 22.6%; Sprint (S) 7.1%; Verizon (VZ) 14.6%.
- iShares S&P Global Telecommunications (IXP): Down 10.2% year-to-date; among its top holdings are AT&T 16%; Vodafone GRP (VOD) 12.6%; Telefonica SA (TEF) 9.6%.
IXP contains global exposure to the telecommunications industry, while IYZ focuses on domestic companies.
Tags: Sector ETFs, Telecommunications
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