Verizon Rallies on Buyback While T-Mobile Gets an Upgrade, Lifting Telecom Shares

Verizon shares rose about 2.4% in a rally tied to its share repurchase program, while T-Mobile gained roughly 2.9% to near $153 after an upgrade from Raymond James.

The moves offer some relief to a telecom group that was pressured last week by news of a SpaceX spectrum deal. The communications sector ETF was up about 0.4% in early trading.

Investors are weighing buybacks and dividends against heavy network spending and competition from satellite-based entrants. AT&T and Verizon remain closely watched for subscriber trends ahead of earnings.