Weekly Market Movers: Telecom Services on Top, Aerospace & Defense Drops

January 13, 2020

During the week from Jan 06 – 12, the sentiment score for Telecom Services jumped by 47 points. Verizon Communications Inc and Bharti Airtel Ltd led the category with the highest aggregated sentiment scores of 33 points and 43 points respectively. 

Top Industry: Telecom

Verizon Media appointed Rathi Murthy as the company’s CTO. Murthy will oversee Verizon Media’s global technology strategy, leading the company’s continued innovations in 5G, advertising and content, commerce and subscriptions. She joins Verizon Media from Gap where she was CTO. 

Telecom major Bharti Airtel on Friday announced its voice over Wi-Fi service has crossed one million users. The company was the first mobile operator to introduce Voice over Wi-Fi in India. Following the extremely positive customer feedback, the company has accelerated the roll-out of its service across the country.

Flop Industry: Aerospace

Meanwhile, the Aerospace & Defence industry was the worst-performing industry with a sentiment decrease of 64 points. Spirit AeroSystems and Boeing ranked bottom with a sentiment score of -73 and -35 points.

Boeing Co’s biggest supplier, Spirit AeroSystems Holdings Inc, said on Friday it plans to lay off more than 15% of the workforce. The company said it is “a necessary step given the uncertainty related to both the timing for resuming 737 MAX production and the overall production levels that can be expected following the production suspension.”

AP reported that Lawmakers on Capitol Hill lashed out at Boeing on Friday after the release of a batch of emails and text messages in which company employees questioned the safety of the now-grounded 737 Max, called the aircraft a “joke” and talked about how they concealed problems from regulators. Boeing is still struggling to fix the software and get the plane back in the air, and it is unclear when that might happen. Last month, it fired its CEO and announced it is suspending production of the Max. 

Notes:

1 Companies that contributed most to last week’s industry sentiment change.

2  Top trending event related to the respective company.

3  Weekly aggregated company sentiment score (ranging from -100 to +100).

4  Weekly aggregated company attention buzz (the percentage by which the number of news, blogs and tweets about an asset deviates from normal attention).

*Industry name and classification as per Morning Star

Don’t miss out on the weekly market movers. Subscribe today!