Big 3 Telecom Stocks Drop as SpaceX Picks Up Spectrum -- Market Talk
Dow Jones2026/10/08 21:301730 ET - Shares of the three major U.S. telecommunications companys -- AT&T, Verizon, and T-Mobile US -- drop in after-hours trading as SpaceX's effort to disrupt their dominance with its Starlink Mobile business moves closer to fruition. SpaceX agreed to buy a portfolio of 800 megahertz spectrum originally owned by T-Mobile, in what it called one of the final steps toward becoming "a major mobile carrier in the US." SpaceX has made no effort to hide that it has the three companies in its crosshairs: "I anticipate us to be able to acquire quite a few of their customers because I think our service will be better," SpaceX COO Gwynne Shotwell told investors in August. AT&T drops 7.5%, Verizon slides 7%, and T-Mobile loses 6.7% after hours. (elias.schisgall@wsj.com) (END) Dow Jones Newswires October 08, 2026 17:30 ET (21:30 GMT)
1730 ET - Shares of the three major U.S. telecommunications companys -- AT&T, Verizon, and T-Mobile US -- drop in after-hours trading as SpaceX's effort to disrupt their dominance with its Starlink Mobile business moves closer to fruition. SpaceX agreed to buy a portfolio of 800 megahertz spectrum originally owned by T-Mobile, in what it called one of the final steps toward becoming "a major mobile carrier in the US." SpaceX has made no effort to hide that it has the three companies in its crosshairs: "I anticipate us to be able to acquire quite a few of their customers because I think our service will be better," SpaceX COO Gwynne Shotwell told investors in August. AT&T drops 7.5%, Verizon slides 7%, and T-Mobile loses 6.7% after hours. (elias.schisgall@wsj.com)
(END) Dow Jones Newswires
October 08, 2026 17:30 ET (21:30 GMT)
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