SpaceX (SPCX) shares dropped by over 4% after the firm agreed to acquire a low-band spectrum license portfolio.
Watch out for Verizon Communications (VZ), AT&T (T), and T-Mobile (TMUS). They may open down by 5% - 7% in Friday morning trading. Markets are pricing in the risk of Starlink taking their wireless telecom market share. In Canada, shares of Rogers Communications (RCI), Telus (TU), and BCE (BCE) may face accelerated selling pressure.
In the restaurant sector, rumors that Starbucks (SBUX) would buy Chipotle (CMG) lifted the latter by 6.21%. This is the second buyout rumor in less than a month. Markets previously speculated that Chipotle would find a buyer. Restaurant Brands (QSR) made the most sense at the time.
The popular coffee shop has little overlap with Chipotle’s operations.
Watch Pepsi (PEP) stock today. On Thursday, shares gained 3.73% to close at $128.34 in reaction to the third-quarter results.
Pepsi reported an accelerated organic growth rate of 3.1%. It benefited from volume growth and international market momentum. However, U.S. markets are weak, especially in soft drinks.
Related pop drink suppliers that readers might consider include Keurig Dr. Pepper (KDP), Coca-Cola (KO), Celsius Holdings (CELH), and Monster Beverage (MNST).
Watch the energy sector this morning. Crude oil futures rose by around 4%. Oil prices strengthened as attacks on vessels travelling in the Strait of Hormuz fell. Attacks on tankers last week were at their highest levels since the war began.
