US telecom stocks fall on report of SpaceX wireless carrier talks

Verizon Communications

Today 12:21

Updates
** US telecom stocks decline in premarket trading following a report that SpaceX is in talks with cellular infrastructure cos for a nationwide wireless carrier program
** Bloomberg reported on Thursday that SpaceX plans to secure access to at least 80,000 sites across the US; in talks with mobile infrastructure provider Crown Castle CCI.N
** Verizon VZ.N down 4%; AT&T T.N and T-Mobile TMUS.O fall 4.2% and 4.6% respectively
** Shares of SpaceX up 1.5%
** Communication infrastructure firms jump, with Crown Castle gaining 9.1% and American Tower AMT.N rising 6.1%
** As of last close, AT&T and T-Mobile are down 8.4% and 21.8% YTD, while Verizon is up 11%

 (Reporting by Anand Gopal in Bengaluru)
 ((AnandGopal.R@thomsonreuters.com))