Check out the companies making the biggest moves premarket: SpaceX — Shares were higher by 4% after Grain Management announced it reached an agreement with SpaceX to sell its nationwide 800 megahertz spectrum portfolio. The move that is expected bolster Starlink Mobile’s capabilities. Telecom providers – SpaceX’s spectrum announcement sent telecom companies lower in premarket trading Friday, as they potentially face increased competition. T-Mobile dropped 7%, AT & T fell almost 6%, and Verizon lost more than 5%. Meanwhile, tower stocks like American Tower and Crown Castle were higher by 6% and almost 8%, respectively. Delta Air Lines — The airline operator fell 4% after it reported weaker-than-expected earnings for the third quarter. Delta earned an adjusted $1.72 per share on revenue of $17.59 billion. Analysts polled by LSEG expected a profit of $1.75 per share on revenue of $17.67 billion. The company said higher fuel costs continue to weigh on its outlook, as it cut its full-year earnings outlook. AI stocks — A slew of companies with exposure to the artificial intelligence buildout were higher in premarket trading Friday after many declined on Thursday following reports that OpenAI’s annualized revenue was about $20 billion lower than previously shared. CoreWeave jumped 2.5%, while Oracle and Broadcom rose 1.5%. Lumentum — Shares jumped 6% after the company’s CEO Michael Hurlston said that Lumentum’s optical components are sold out through 2029. He said Lumentum will struggle to meet as much as 70% demand for some products through next year. Managed care providers — Insurers’ shares swung sharply after the Centers for Medicare & Medicaid Services rolled out its 2027 Star Ratings on its Medicare Plan Finder for open enrollment this fall. Shares of Humana surged 14% after the insurer’s largest Medicare Advantage contract saw its rating improve. Alignment Healthcare cratered 23%. Park Aerospace — The manufacturer of composite materials for the aerospace market shed earlier gains and traded down 2.5%. Park Aerospace earned 21 cents per share on revenue of $20.8 million in the second quarter. That compares to 12 cents a share and $16.4 million in the year-ago period. Freeport-McMoRan — The miner was up 2.5% as gold prices were on pace for their first positive week in three. U.S. gold futures for December delivery were up 1% on Friday. — CNBC’s Darla Mercado and Fred Imbert contributed reporting
