T-Mobile Sinks 13.6% in a Day as Tower Stocks Rally
U.S. stock markets are closed for the weekend. Trading resumes Monday at 9:30 a.m. ET (4:30 p.m. in Istanbul), while the bond market stays shut for Columbus Day.
The fallout from the spectrum purchase SpaceX announced Thursday evening deepened in Friday's session. Carrier losses of 6%-7% in premarket trading nearly doubled by the close.
Market estimates put the price of the 14 MHz package at about $8B; SpaceX did not disclose it. The deal needs FCC approval.
In Friday's session, T-Mobile fell 13.6%, AT&T 11.0% and Verizon 10.4%. A same-day double-digit drop across all three carriers is almost unheard of in the sector.
The market did not read this as a satellite story; it read it as a warning of price competition. Towers moved the other way: American Tower closed up 9%, since a new carrier means a new tenant.
Friday's other headlines came from the consumer. Delta cut its 2026 EPS guidance to $5.10-$5.60 from $6.50-$7.50. The preliminary Michigan consumer sentiment index fell to 46.3, below the 47.6 forecast.
In the last session (Friday, October 9), the rose 0.6%, the , the and the . The closed at 7,811.51, just below Tuesday's record, as health care and real estate offset the carriers.
