Live News EQUITY ARTICLE M impact Oct 09, 2026, 05:57 PM UTC

Cell tower stocks rise on SpaceX spectrum deal

American Tower, SBA Communications and Crown Castle jumped after SpaceX said it agreed to acquire wireless spectrum from Grain Management. Analysts said the move could support demand for traditional tower infrastructure and make spectrum holdings more valuable.

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SquawkNews Desk 1 updates Updated Oct 09, 2026, 06:16 PM UTC

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06:16:33 PM UTC

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By Patience Haggin Shares in AT&T, Verizon Communications and T-Mobile US fell sharply Friday in the wake of SpaceX's $8 billion spectrum deal, the Elon Musk-led company's biggest move yet into the wireless market. By early afternoon AT&T and Verizon were on track for their biggest one-day declines in more than 24 years. For T-Mobile, it would be the worst percentage drop in more than 13 years. SpaceX said Thursday it had agreed to buy cellular spectrum licenses from investment firm Grain Management-specifically, spectrum that can cover places satellite links can't reach, like inside buildings. SpaceX has said it wants to move its Starlink satellite service beyond broadband, and this acquisition could make it a more serious threat to the leading consumer wireless carriers. Starlink already provides internet connectivity via thousands of satellites in low-Earth orbit, as well as basic wireless connections in remote areas through a T-Mobile partnership. This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage). (END) Dow Jones Newswires October 09, 2026 14:16 ET (18:16 GMT) Copyright (c) 2026 Dow Jones & Company, Inc. The statements in this document shall not be considered as an objective or independent explanation of the matters. Please note that this document (a) has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and (b) is not subject to any prohibition on dealing ahead of the dissemination or publication of investment research.

By Ty Roush SpaceX's expanding ambitions in the wireless industry provided a boost to cell tower companies on Friday as investors weighed the prospect of a new major customer for their infrastructure. 2%. Crown Castle jumped 13%. Crown Castle has risen 15% this week, pacing toward the stock's best weekly performance since March 2009, American Tower's performance put it on track for its largest single-day percentage increase since October 2023.

" The development offers a potential sign of relief for traditional tower operators, which have faced pressure from elevated interest rates. Higher borrowing costs have weighed on infrastructure valuations and threatened to slow growth, Mizuho analysts said in a note Friday. Mizuho identified American Tower, among other real estate investment trusts, like Prologis, Ventas, and Federal Realty Investment Trust, as stocks that have been oversold and could offer attractive investing opportunities. 4%.

SpaceX's push into wireless service could create new opportunities for tower operators like American Tower, Crown Castle, and SBA Communications, Morgan Stanley analysts said in a note. While SpaceX is expected to rely heavily on its existing infrastructure and smaller wireless installations, analysts said the company likely would need traditional cell towers to build a competitive mobile network. Morgan Stanley analysts said the expansion could make the wireless spectrum owned by other companies more valuable. Spectrum owners like EchoStar, Viasat, and Sirius XM could benefit from the emergence of another aggressive buyer on the market.

6%, Viasat jumped 7%, and Sirius XM added 1%. com This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal. (END) Dow Jones Newswires October 09, 2026 13:56 ET (17:56 GMT) Copyright (c) 2026 Dow Jones & Company, Inc.

The statements in this document shall not be considered as an objective or independent explanation of the matters. Please note that this document (a) has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and (b) is not subject to any prohibition on dealing ahead of the dissemination or publication of investment research.