However, other investors countered that so-called disruptive technologies would take a long time to actually disrupt AT&T and Verizon's business. For the most part, Internet will be delivered by cables controlled by the phone companies, they said.
@nahrafsfa I'm not defensive just spent 20 years in the wireless world. FB isn't going to own the pipe. Maybe GOOG but VZ in game-- Afortyyearold (@Afortyyearold) Apr. 13 at 07:15 PM
It's not surprising that talk of defensive plays would dominate discussion. Despite a futures market that pointed to gains in the Nasdaq (QQQ) and S&P 500 (SPY), most investors still felt bearish. Sentiment on the ETF that tracks the S&P 500was 70% bearish before the open, according to StockTwits analytics. Sentiment on the ETFs that tracks the Nasdaq and the Dow (DIA) hovered around 58% and 60% bearish, respectively.
At the time of publication the author held no positions in any of the stocks mentioned.
This article represents the opinion of a contributor and not necessarily that of TheStreet or its editorial staff.