Check out some of the companies making the biggest moves at noon. Telecommunications providers – SpaceX moves to strengthen its Starlink Mobile service, raising concerns about competition for traditional carriers. T-Mobile stock fell 13%, and AT&T and Verizon stock each fell 10%. Shares of cell phone tower companies soared, with Crown Castle up 12%, SBA Communications up 6% and American Tower up nearly 8%. Teva Pharmaceutical Industries — Shares rose 6% after Teva announced the Food and Drug Administration approved Vertolza, its monthly long-acting injection for adult schizophrenia. Avient — The chemicals and plastics maker saw its stock price drop more than 7% after CEO Ashish Khandpur resigned and was replaced by Mike Frank. Archer Aviation — The developer of electric vertical takeoff and landing aircraft gained 3% after Barclays assumed coverage of the stock with an overweight rating. The bank has set a price target of $8, suggesting an upside of about 69% from Thursday’s closing price. Delta Air Lines — Shares fell nearly 2% after Delta Air Lines reported lower-than-expected third-quarter profits. Delta Air Lines earned an adjusted profit of $1.72 per share on revenue of $17.59 billion. Analyst estimates compiled by LSEG were for earnings of $1.75 per share and sales of $17.67 billion. Delta blamed rising fuel costs for lowering its full-year profit outlook. Lumentum — Shares rose about 7% after CEO Michael Hurlston said Lumentum’s optics will be sold out through 2029. He said Lumentum will struggle to meet as much as 70% demand for some products until next year. MANAGED CARE PROVIDERS — When the Centers for Medicare and Medicaid Services released 2027 star ratings in Medicare Plan Finder for public enrollment this fall, insurers responded. Humana shares rose 12% after the company received a rating upgrade on its largest Medicare Advantage contract. Alignment Healthcare’s stock price fell about 14%. Apple — Shares fell nearly 2% after Nikkei Asia reported that the company would cut parts orders for the iPhone 18 Pro due to weaker-than-expected demand. The Nikkei Shimbun added that production orders for the device and the iPhone 18 Pro Max in October were reduced by 15% from the original plan. Park Aerospace — Shares of the maker of composite materials for the aerospace market fell 9%. Park posted revenue of $20.8 million in the second quarter, or 21 cents per share. This compares to 12 cents per share, or $16.4 million, in the year-ago period. Freeport-McMoRan — The mining company’s stock rose 3% as gold prices rose. U.S. gold futures for December delivery rose 1.4% on Friday. — CNBC’s Davis Giangiulio, Darla Mercado and Fred Imbert contributed reporting
