U.S. stocks edged higher by midday Friday, with the Nasdaq rebounding from Thursday’s setback sparked by concerns over OpenAI’s weaker-than-expected revenue, while the wireless carriers were hammered by a Space Exploration Technologies Corp. SPCX spectrum deal. SpaceX said Thursday it acquired a nationwide 800 MHz spectrum portfolio from Grain Management, a deal that still needs FCC approval. The Wall Street Journal reported a price of $8 billion in cash. The FCC also approved plans for 15,000 Starlink Mobile Gen2 satellites, and SpaceX’s COO said the company plans to target existing wireless customers. T-Mobile US Inc. TMUS tumbled 12.2%, AT&T Inc. T sank 11.2% and Verizon Communications Inc. VZ lost 11.1%. Charter Communications Inc. CHTR fell 5.
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