Delta Cuts Full-Year Outlook as SpaceX Spectrum Deal Rattles Telecoms

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4▲4 ▼6Impact / 5
Summary · why it matters

Delta Air Lines reported weaker-than-expected third-quarter results and cut its full-year earnings outlook, sending its shares down 4% premarket. The airline earned an adjusted $1.72 per share on revenue of $17.59 billion, below the $1.75 per share and $17.67 billion analysts polled by LSEG had expected, with the company citing higher fuel costs. SpaceX shares rose 4% after Grain Management announced an agreement to sell its nationwide 800 megahertz spectrum portfolio to SpaceX, a move expected to bolster Starlink Mobile's capabilities. The spectrum announcement sent telecom providers lower, with T-Mobile down 7%, AT&T nearly 6% lower and Verizon off more than 5%, while tower stocks American Tower and Crown Castle gained 6% and almost 8% respectively. Humana surged 14% after its largest Medicare Advantage contract saw its rating improve under the Centers for Medicare & Medicaid Services' 2027 Star Ratings, while Alignment Healthcare cratered 23%. Apple fell more than 2% after Nikkei Asia reported the company was cutting component orders for its iPhone 18 Pro, with October production orders for that device and the iPhone 18 Pro Max cut by 15% from original plans.

Impact on assets 18

Cloud & Digital Infrastructure± Mixed
AT&T Inc.
T
▼ NegativeCompetitionrelevance

AT&T fell nearly 6% as SpaceX's spectrum deal is expected to strengthen Starlink Mobile's competitive position.

T-Mobile US Inc
TMUS
▼ NegativeCompetitionrelevance

T-Mobile dropped 7% as SpaceX's spectrum acquisition is seen bolstering rival Starlink Mobile.

Verizon Communications Inc
VZ
▼ NegativeCompetitionrelevance

Verizon fell more than 5% as SpaceX's spectrum deal strengthens Starlink Mobile's competitive capabilities.

American Tower Corp
AMT
▲ PositiveCompetitionrelevance

American Tower gained 6% as the SpaceX spectrum deal pressured telecom carriers, shifting sentiment toward tower stocks.

Crown Castle
CCI
▲ PositiveCompetitionrelevance

Crown Castle rose almost 8% as the SpaceX spectrum deal sent telecom providers lower and lifted tower stocks.

Artificial Intelligence▼
Apple Inc.
AAPL
▼ NegativeDemandrelevance

Nikkei Asia reports Apple cut iPhone 18 Pro component orders, with October production orders down 15% from original plans.

Aging Population± Mixed
Humana Inc
HUM
▲ PositiveRegulationrelevance

Humana surged 14% after its largest Medicare Advantage contract's rating improved under CMS' 2027 Star Ratings.

Alignment Healthcare LLC
ALHC
▼ NegativeRegulationrelevance

Alignment Healthcare cratered 23% after its largest Medicare Advantage contract's Star Rating was not improved under CMS' 2027 ratings.

Industrials▼
Delta Air Lines Inc
DAL
▼ NegativeCapitalrelevance

Delta reported weaker-than-expected Q3 results and cut its full-year earnings outlook, citing higher fuel costs.

Space Economy▲
Critical Materials & Supply Chain▲
Aerospace & Aviation▲

Off-coverage companies 1

Grain Managementi
Private± Mixedrelevance