According to CNBC, SpaceX shares rose 4% after Grain Management said it reached an agreement to sell SpaceX its nationwide 800 megahertz spectrum portfolio, a move expected to bolster Starlink Mobile's capabilities. Telecom stocks fell in premarket trading, with T-Mobile down 7%, AT&T off almost 6% and Verizon lower by more than 5%, while American Tower and Crown Castle gained 6% and almost 8%, respectively. Delta Air Lines fell 4% after reporting third-quarter adjusted earnings of $1.72 per share on revenue of $17.59 billion, below LSEG estimates for $1.75 per share on revenue of $17.67 billion; the company also cut its full-year earnings outlook, citing higher fuel costs. CoreWeave rose 2.5%, while Oracle and Broadcom added 1.5% each after AI-related stocks recovered from Thursday's declines tied to reports that OpenAI's annualized revenue was about $20 billion lower than previously shared. Lumentum climbed 6% after CEO Michael Hurlston said the company's optical components are sold out through 2029 and that it will struggle to meet as much as 70% of demand for some products through next year. Managed care stocks moved sharply after the Centers for Medicare & Medicaid Services released its 2027 Star Ratings on Medicare Plan Finder for open enrollment this fall, with Humana surging 14% after its largest Medicare Advantage contract improved and Alignment Healthcare plunging 23%. Park Aerospace fell 2.5% after reporting second-quarter earnings of 21 cents per share on revenue of $20.8 million, compared with 12 cents per share and $16.4 million a year earlier. Freeport-McMoRan rose 2.5% as gold prices headed for their first positive week in three, with U.S. gold futures for December delivery up 1% on Friday.
