Why T-Mobile Is Nearly 6% Lower Today
Shares of wireless telecom name T-Mobile (NASDAQ: TMUS) are down 5.7% as of 3:25 p.m. ET Friday, according to data from S&P Global Market Intelligence. Shares have been caught up in a marketwide sell-off that found this particular stock even more vulnerable than most.
Don't look for a specific headline explaining today's tumble. You won't find it. Rather, T-Mobile is down markedly more than the S&P 500 is today mostly because it was one of the few stocks that had managed to defy the broad market's weakness through Thursday.
That resilience is largely attributable to solid fiscal first-quarter numbers posted on Wednesday. The company topped estimates, adding 348,000 postpaid customers during the three-month stretch ending in March, outpacing all other wireless carriers for the same customer type and simultaneously breaking a first-quarter record. The strong start to the new year even prompted T-Mobile to raise its full-year EBITDA guidance by $150 million at the midpoint of its suggested ranges.
Source Fool.com
