US Stock Market Move | Telecom tower operators rise collectively; Crown Castle Inc. (CCI.US) surges nearly 14%

On Friday, US telecom tower operators rose collectively. Crown Castle Inc. (CCI.US) surged nearly 14%, American Tower Corporation (AMT.US) gained over 7%, and SBA Communications Corp. Class A (SBAC.US) rose more than 6%. On the news front, according to reports, SpaceX is in talks with cellular infrastructure companies including Crown Castle Inc. to secure at least 80,000 cell tower sites in the United States to build a nationwide wireless network. Crown Castle Inc. is one of the parties in discussions, and a potential agreement would involve site leasing. The report said the relevant agreement could be worth billions of dollars. Crown Castle Inc. operates about 40,000 US communications towers, and the 80,000 sites SpaceX aims to acquire are roughly half of the 158,500 dedicated cellular towers in the US last year.