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Communications Services Down as SpaceX Enters Wireless Business — Communications Services Roundup

Provided by Dow Jones Oct 9, 2026, 9:59:00 PM

Communications-services companies fell amid fears about a new entrant in the cell-phone carrier market.

Cell-phone carriers slid after Elon Musk's rocketry firm SpaceX agreed to buy wireless spectrum from investment firm Grain Management for about $8 billion. T-Mobile US, AT&T and Verizon all fell sharply.

Advertisers from Macy's to Levi Strauss plan to plough some of the multimillion-dollar tariff refunds received from the federal government into marketing spending as the holiday shopping season approaches.

CoBank, a lender to Cable One, sued the broadband company to stop it from buying the remaining stake in Mega Broadband Investments, saying the financing would damage creditors. Shares of Cable One fell sharply.

Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

October 09, 2026 17:59 ET (21:59 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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