US telecom firms fall after Trump Organization unveils new phone, network

ReutersJun 16, 2025 12:36 PM

Shares of U.S. telecom firms dip in premarket trading

AT&T T.N falls 0.7%, Verizon Communications VZ.N off 0.3%, while T-Mobile TMUS.O down 0.5%

Trump Organization - main holding entity of President Donald Trump's business ventures - unveils self-branded mobile network dubbed 'Trump Mobile'

Says 'Mobile' to have numerous features, such as roadside assistance and telemedicine

New mobile venture to have phones made and call centers based in the U.S.

Till last close, T up 23% YTD, while TMUS up 3%, VZ up over 7% in the same period

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