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Facebook, Alphabet shifted in sector classification system

Reuters  |  SAN FRANCISCO 

By Noel RandewichSAN FRANCISCO (Reuters) - S&P Dow Jones Indices and MSCI said on Thursday they would rename their Telecommunication Services Sector and add Comcast Corp , Netflix , Facebook and Alphabet to the newly broadened category. In an overhaul of the Global Industry Classification Standard, or GICS, an industry taxonomy widely used by investors, the Telecommunication Services Sector will be expanded and renamed Communication Services, S&P Dow Jones Indices and MSCI said in a statement.The new classification puts Facebook, Netflix and Google parent Alphabet - companies whose ...

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First Published: Fri, January 12 2018. 06:36 IST