Stocks Making Significant Moves Midday: T-Mobile, Verizon, AT&T, Crown Castle, Teva & More
Telecom providers faced significant declines as SpaceX's expansion of its Starlink Mobile service raised concerns about competition. Shares in T-Mobile dropped by 13%, while both AT&T and Verizon fell around 10%. In contrast, cellular tower companies saw gains: Crown Castle rose over 12%, SBA Communications climbed nearly 6%, and American Tower advanced close to 8%. Teva Pharmaceutical Industries gained 6% after the FDA approved its new schizophrenia treatment. Delta Air Lines reported weaker-than-expected Q3 earnings and cut its full-year outlook, leading to a near 2% drop in shares. Other notable movements included Avient falling over 7% following CEO changes, while Archer Aviation rose nearly 3% on an overweight rating from Barclays with a $8 price target. Lumentum's stock jumped about 7% as the company reported strong demand for its optical components through 2029. Humana surged 12%, and Alignment Healthcare dropped almost 14% due to Medicare Advantage contract ratings changes. Apple shares fell nearly 2% after reports of reduced iPhone production orders, while Freeport-McMoRan gained as gold prices climbed.
Tickers: $AAPL $ACAD $ACHR $ALGM $ALHC $AMT $AVNT $CCI $CCK $DAL $FCX $HUM $HUMA $LITE $PKE $SBAC $T $TEVA $TMUS $VZ
Topics: analyst_coverage_initiation ceo_change earnings_report medicare_ratings pharmaceutical_approval supply_chain_demand telecom_competition