BUZZ-U.S. telecom stocks fall after SpaceX reaches spectrum agreement
路透社2026/10/09 08:46October 9th - SpaceX (SPCX.O) has reached an agreement to acquire a portfolio of nationwide low-frequency spectrum licenses, enabling Starlink Mobile to become a major telecom operator in the US, causing a pre-market decline in US telecom stocks. T-Mobile (TMUS.O) shares fell by 6.3%, AT&T by 5.7%, and Verizon (VZ.N) by 5.1%. According to The Wall Street Journal, citing sources familiar with the matter, SPCX will pay about 8 billion USD in cash to the seller, private equity firm Grain Management, to acquire the asset. The financial terms of the agreement have not yet been disclosed by either party. This deal increases competition for traditional carriers, transforming satellite direct-to-device technology from a supplementary safety feature for remote signal dead zones into a full-fledged commercial competitor replacing terrestrial cellular networks. "Although the three major carriers (T, TMUS, VZ) face a more concrete competitive threat due to their weak performance among high-speed data users (HSDs), this is not entirely unexpected and will most likely begin in rural areas," said Morgan Stanley. So far this year, TMUS is down 15.6%, VZ is up 13.7%, and T is slightly up. European telecom stocks were also impacted, including Germany’s Deutsche Telekom (DTEGn.DE). (To facilitate non-English-speaking users, Reuters automates its reports into several other languages. As automated translations may be inaccurate or lack required context, Reuters does not guarantee the accuracy of automated translations, which are provided solely for reader convenience. Reuters assumes no liability for any harm or loss arising from use of this automated translation feature.)
October 9 - ** Due to SpaceX SPCX.O reaching a (link) agreement to acquire a portfolio of low-band spectrum licenses covering the entire United States, Starlink Mobile will become a major telecom carrier in the US, leading to a decline in pre-market US telecom stocks
** T-Mobile TMUS.O shares fell by 6.3%, AT&T dropped 5.7%, and Verizon VZ.N fell by 5.1%
** According to the Wall Street Journal citing people familiar with the matter, SPCX will pay about $8 billion in cash to the seller—private equity firm Grain Management—to acquire the asset
** The financial terms of the agreement have not yet been disclosed by the parties
** This deal increases competitive pressure on traditional carriers, transforming satellite direct-to-device technology from a supplementary safety feature for remote signal blind spots into a fully competitive commercial rival to terrestrial cellular networks
** “Although the three major carriers (T, TMUS, VZ) have shown weakness in high-speed data users (HSDs), which constitutes a more tangible competitive threat, it is not entirely unexpected and will likely begin in rural areas” — Morgan Stanley
** Year-to-date, TMUS has fallen 15.6%, VZ has risen 13.7%, while T has edged up slightly
** European telecom stocks (link) were also affected, including Germany’s Deutsche Telekom DTEGn.DE
(To assist those whose first language is not English, Reuters provides automated translations of its reports into several other languages. Since automated translation may contain errors or lack required context, Reuters does not guarantee the accuracy of translated texts and provides automated translations for reader convenience only. Reuters does not accept any liability for any damage or loss arising from the use of automated translation.)
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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BUZZ - UBS raises AbbVie’s target price, citing expansion of its core business beyond the immunology drug sector
On October 9, UBS raised its target price for AbbVie (ABBV.N) from $260 to $275, stating that investors' focus is shifting from blockbuster drugs Skyrizi and Rinvoq to the next wave of growth in its immunology business. UBS also noted that other projects in AbbVie’s R&D pipeline remain robust. It expects strong third-quarter performances from Skyrizi and Rinvoq, with respective sales reaching $5.7 billion and $2.7 billion. Special attention was given to upcoming combined treatment data of Skyrizi for Crohn's disease and ulcerative colitis, with mid-stage trial results to be released later this month. UBS believes that the drug lutikizumab, for inflammatory skin diseases, has a potential market size of $1-2 billion, and pointed out that Rinvoq sales are likely to surpass $500 million. The report also mentioned positive late-stage clinical data for cancer drugs Epkinly and etentamig, as well as the recent launch of the Parkinson’s disease medication tavapadon. UBS expects third-quarter earnings per share (EPS) to reach $3.76, within AbbVie’s forecast range of $3.73 to $3.77. Including intraday fluctuations, AbbVie’s stock has risen 21% so far this year. (For the convenience of non-English speakers, Reuters provides automated translation of its reports into several other languages. Due to potential inaccuracies or lack of required context in automated translations, Reuters does not guarantee the accuracy of these texts and is not liable for any damage or loss arising from their use. The translations are provided solely for readers' convenience.)
BUZZ - Bank of America downgraded the rating of Smithfield Foods to "Neutral," causing the stock price to drop
October 9 – ** Smithfield Foods (SFD.O), a pork producer, saw its share price fall by 2%, closing at $18.51 ** Bank of America downgraded the stock from “buy” to “neutral,” and adjusted the price target from $25 down to $21 ** The brokerage cited deteriorating fundamentals in the hog industry: weak demand for pork belly and ham, declining lean hog futures prices, and persistently high feed costs have led to expectations of reduced hog profits ** They expect the packaged meats segment to remain stable and stated that a recovery in the hog industry or a significant rise in packaged meats profits would make them more optimistic about the stock ** Out of seven brokerages, four rate the stock “buy” or higher, and the remainder rate it “hold”; according to LSEG data, the median price target is $28 ** As of the previous trading day’s close, the stock is down approximately 15% year to date. (For convenience of non-English speakers, Reuters automatically translates its reports into several other languages. Because automated translation may result in errors or lack necessary context, Reuters does not guarantee the accuracy of automatically translated texts, which are provided solely for readers’ convenience. Reuters assumes no responsibility for any damage or loss arising from the use of automated translation features.)
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