Exchange traded funds (ETFs) that invest in telecommunications stocks rose Wednesday after AT&T (NYSE: T) reported quarterly earnings that topped analyst forecasts.
AT&T’s net income rose in the quarter after the company lost exclusive rights to offer Apple’s (NasdaqGS: AAPL) iPhone on its network, Bloomberg reported.
AT&T is the top holding in iShares Dow Jones US Telecom (NYSEArca: IYZ) at 15.9%.
Level 3 Communications’ (NasdaqGS: LVLT) recent bid to acquire Global Crossing (NasdaqGS: GLBC) has fueled hopes for more deals in the telecom sector.
Some telecom sector ETFs include:
- iShares Dow Jones US Telecommunications (NYSEArca: IYZ)
- Vanguard Telecommunications (NYSEARca: VOX)
- Telecom HOLDRs (AMEX: TTH)
- iShares S&P Global Telecommunications Index Fund (NYSEArca: IXP)
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