SpaceX cell-site ambitions lift tower stocks and weigh on carriers

Investing.com -- Shares of communications infrastructure firms jumped in premarket trading Friday after Bloomberg reported that SpaceX aims to secure cell sites across the U.S. Still guessing which stocks will beat the market? Our AI portfolio updates monthly and is outperforming the S&P 500 by 118%. See this month's list » Crown Castle soared more than 7%, while American Tower jumped 6% by 05:45 ET (09:45 GMT). Conversely, U.S. telecom carriers fell on the news. Verizon, AT&T and T-Mobile each fell more than 3%. SpaceX is in talks with at least one major cellular infrastructure company to secure a minimum of 80,000 cell sites nationwide, Bloomberg reported, citing people familiar with the matter.