# SpaceX Gains on Cell Site Talks, Citi Wins China Approval, SK Hynix Scraps Solidigm IPO

An episode of [Stock Movers](https://invisiblenetwork.ai/podcast/1803209456), 23 Oct 2026, 4:29.

Audio: https://podtrac.com/pts/redirect.mp3/traffic.omny.fm/d/clips/e73c998e-6e60-432f-8610-ae210140c5b1/deb345cd-6d73-4a24-a6e3-b2a50138dd86/0a39e08b-d942-4c9c-a903-b4ec00b58c3e/audio.mp3?utm_source=Podcast&in_playlist=a55c6f22-aa32-4a58-aebd-b2a50138e2b2

Today's biggest winners and losers in the stock market. On this episode of Stock Movers: - Shares of SpaceX (SPCX) moved higher ahead of Friday open on Wall Street as the company aims to 80,000 cell sites across the US. Sources tell Bloomberg that SpaceX is in talks with at least one major tower operator. The new infrastructure would complement existing Starlink satellites and recently acquired wireless spectrum. - Shares of Citigroup (C) were little changed in the early session after the bank received approval to launch a wholly-owned securities business in China, ending a nearly five-year journey marked by regulatory friction in both Washington and Beijing. The green light, confirmed by the lender and announced by China’s regulator, came just weeks after Xi Jinping and Donald Trump met in Washington. - US-listed shares of SK Hynix (SKHY) rallied in premarket trading after the semiconductor company scrapped plans for a potential $10 billion US listing of its Solidigm unit. The move came after facing strong opposition from regulators and shareholders, making SK Hynix the latest firm to pull an IPO while growing investor unease over the artificial intelligence boom rocks markets. See omnystudio.com/listener for privacy information.

## Transcript

[0:02] Speaker 1: Bloomberg Audio Studios, podcasts, radio, news.
[0:08] Speaker 2: The Stock Movers Report, your roundup of companies making moves
[0:12] Speaker 2: in the stock market, harnessing the power of Bloomberg data.
[0:16] Speaker 3: Let's take a look at some stocks on the move today.
[0:18] Speaker 3: I'm Nathan Hager, joined by Bloomberg's Ewan Potts on a
[0:21] Speaker 3: morning where SpaceX is getting attention once again, not just
[0:26] Speaker 3: because of earnings, not just because of merger talk, but
[0:29] Speaker 3: because they look like they want to make a big
[0:31] Speaker 3: play in the stock market.
[0:32] Speaker 1: Into cell phones.
[0:34] Speaker 3: Good morning, Ewan.
[0:36] Speaker 1: Good morning, Nathan.
[0:37] Speaker 4: Yeah, let's start off with the Bloomberg scoop this morning,
[0:39] Speaker 4: which is moving a lot of stocks in the pre-market
[0:41] Speaker 4: this morning.
[0:42] Speaker 1: We understand that SpaceX is aiming to secure a.
[0:45] Speaker 4: Minimum of 80,000 cell sites right across the United States
[0:49] Speaker 4: this and is in talks with at least one major
[0:51] Speaker 4: cellular infrastructure company to reach that goal. Now, the agreements
[0:55] Speaker 4: would solidify the rocket and satellite giant's push towards building
[0:59] Speaker 4: a fourth nationwide wireless carrier. Now, mobile networks rely on
[1:03] Speaker 4: antennas placed on towers across the country to transmit wireless signals,
[1:07] Speaker 4: and the carriers typically lease room for their equipment at
[1:09] Speaker 4: the tower sites because it's more cost-effective than owning and
[1:13] Speaker 4: maintaining them. So all of this is potentially good news
[1:16] Speaker 4: if you're suffering with an expensive cell phone contract.
[1:18] Speaker 1: But shares in mobile providers, well, they're not having a
[1:21] Speaker 1: good morning today.
[1:22] Speaker 4: AT & T, Verizon and T-Mobile all falling as much
[1:26] Speaker 4: as 5% this morning out of concerns for new competition.
[1:30] Speaker 4: But two of the largest owners of cellular towers, well,
[1:32] Speaker 4: they are both jumping today. American Tower and Vertical Bridge
[1:36] Speaker 4: Holdings both gaining this morning in the pre-market. And SpaceX
[1:40] Speaker 4: shares also more than 2% higher as well.
[1:43] Speaker 3: Yeah, so while SpaceX looks to expand into cell phones potentially,
[1:48] Speaker 3: it looks like Citigroup is getting more of a go-ahead
[1:51] Speaker 3: to expand into China.
[1:54] Speaker 1: Yeah, it's been a long journey for Citigroup.
[1:56] Speaker 4: The bank has received approval to launch a wholly owned
[1:59] Speaker 4: securities business in China. Now, it marks the end of
[2:03] Speaker 4: nearly five years of regulatory friction in both Washington and Beijing.
[2:09] Speaker 1: The green light was confirmed.
[2:10] Speaker 4: By the lender and announced by China's regulator, and it
[2:13] Speaker 4: came just weeks after Xi Jinping and Donald Trump met
[2:17] Speaker 4: in Washington. Chinese regulators say that the firm will have
[2:20] Speaker 4: a registered capital of $ 180 million and and will be
[2:24] Speaker 4: headquartered in Shanghai. The company, which is called Citigroup Securities China,
[2:29] Speaker 4: will provide onshore capital market services, including underwriting, equities brokerage,
[2:34] Speaker 4: investment advisory research, and trading enlisted securities. Beijing's approval follows
[2:40] Speaker 4: similar clearance for two Japanese financial firms last week. This
[2:43] Speaker 4: is really highlighting a steady push to open up China's
[2:46] Speaker 4: capital markets, ironically coming in the midst of a rather
[2:49] Speaker 4: nasty sell-off recently in Chinese stocks. Citigroup shares are pretty
[2:54] Speaker 4: flat this morning, just up a touch in the pre-market.
[2:57] Speaker 3: It's been kind of a nasty sell-off as well in
[2:59] Speaker 3: chip stocks this week with the flight to safety that
[3:04] Speaker 3: we've been watching.
[3:06] Speaker 1: Get us caught up on that, Ewan.
[3:08] Speaker 4: Yeah, a dismal day on the Nasdaq, certainly yesterday, Nathan.
[3:11] Speaker 4: The worst session since June. A lot of tech names, though,
[3:14] Speaker 4: rebounding in the pre-market this morning, and some particular strength
[3:18] Speaker 4: in the chip sector. Now, SK Hynix is in the news.
[3:22] Speaker 4: The company has scrapped plans for a potential $ 10 billion
[3:27] Speaker 4: US listing of its Solidigum unit, facing strong opposition from
[3:31] Speaker 4: regulators and shareholders. Now, it makes SK Hynix the latest
[3:36] Speaker 4: firm to pull an IPO from while growing investor unease
[3:39] Speaker 4: over the AI boom rocks markets. The South Korean chipmaker
[3:43] Speaker 4: citing recent capital market conditions. So, Lidigum is one of
[3:48] Speaker 4: the world's largest makers of flash memory, which is critical
[3:51] Speaker 4: to storage in data centers. The shares had a pretty
[3:56] Speaker 4: torrid few months. They plunged 60% from their June peak.
[4:00] Speaker 1: We're getting a good boost in the pre-market this morning.
[4:04] Speaker 2: The Stock Movers Report from Bloomberg Radio. Check back with
[4:08] Speaker 2: us throughout the day for the latest roundup of companies
[4:11] Speaker 2: making news on Wall Street. And for the latest market-moving headlines,
[4:15] Speaker 2: listen to Bloomberg Radio Live. Catch us on YouTube, Bloomberg.com,
[4:20] Speaker 2: and on Apple CarPlay and Android Auto with the Bloomberg
[4:23] Speaker 2: Business app.

Shows are listed from Apple Podcasts' charts and directory, and Podcast Index where it is used. Every show and episode belongs to its publisher and plays from the publisher's own feed; this site hosts none of them.