Stock futures are pointing lower after yesterday's tech sell-off; cell tower stocks are surging after a report that SpaceX aims to secure thousands of cell sites; American Express raised its profit forecast; Western Digital's earnings are failing to lift the stock; and Deckers Outdoor shares are falling after an earnings miss. Here's what you need to know today.
Shares of AT&T, Verizon and T-Mobile fell in premarket trading on Friday after a report said SpaceX was in talks with cellular infrastructure companies to secure access to at least 80,000 sites across the United States. AT&T stock fell about 4.6%, Verizon declined around 4%, and T-Mobile dropped approximately 5% before the market opened.
Stock futures pointed lower as oil prices climbed above $114 a barrel, but some of the hard-hit tech names were enjoying a modest rebound.
SpaceX reportedly is looking to secure at least 80,000 cell sites. Crown Castle, American Tower jumped while Verizon, AT&T and T-Mobile fell.
NYSE issues a pre-market daily advisory direct from the trading floor. NEW YORK, Oct. 22, 2026 /PRNewswire/ -- The New York Stock Exchange (NYSE) provides a daily pre-market update directly from the NYSE Trading Floor.
AT&T shares T fell sharply on Wednesday despite the telecommunications company reporting better-than-expected third-quarter earnings, raising its 2026 profit outlook and accelerating planned share repurchases. Investors focused on wireless subscriber growth and potential competition from SpaceX's Starlink Mobile service.
AT&T CEO is brushing off concerns that satellite-based internet could threaten his business. "I think LEO constellations are fantastic for delivering bandwidth to rural areas," he said.