T-Mobile US, Inc. (TMUS)

T-Mobile US shares rose 1.80% to close at $148.38 after the wireless carrier reported third-quarter 2026 earnings that beat expectations, posting profit of $3.22 per share versus the $2.91 forecast and revenue of $23.584 billion against the $23.138 billion projection. The stock traded between a low of $143.75 and a high of $148.45 on volume of about 6.96 million shares. Offsetting the earnings beat, Deutsche Telekom reportedly paused work on a major T-Mobile merger, a bearish signal for deal-related upside. The company also announced that vice chair Michael Sievert will leave the board and transaction committee on November 1, 2026, a low-impact leadership change. Overall, the stronger-than-expected quarterly results drove the positive move, though the stalled merger news remains a headwind.

T-Mobile shares plunged 4.46% to close at $148.58, marking the stock's worst single-day decline since 2013, as SpaceX's spectrum deal and expanding wireless ambitions sparked a broad selloff across telecom names including AT&T and Verizon. The news raised fears of intensifying competition from the satellite-to-mobile provider, overshadowing a relatively minor positive from Scotiabank, which maintained its Sector Outperform rating while lowering its price target to $212. The stock traded in a wide range between $147.90 and $156.89 on heavy volume of over 18.5 million shares, reflecting the high-impact bearish sentiment.