Tower companies, such as American Tower, SpectraSite Holdings, and Crown Castle Communications traded off two to four points this week following news of weak cell phone subscriber growth, dealers said. Traders quoted American Tower at 90-92, SpectraSite in the mid-80s, and Crown Castle at 98 1/2, and said a combined $10-20 million had been trading on all of the names by last Thursday.
Nextel Communications, started the week in the 89-90 range, ticked down to the 87 1/2-89 1/2 range, and then recovered to 89 1/2-89 3/4 be the end of last week following the same subscriber fee issues, said dealers. Calls to officials at the companies were not returned by press time.