RBC Capital Markets has issued a downgrade of the cellular and mobile tower sector this morning, which looks like it will weigh somewhat on the shares in the group.  Its prior weighting was "Outperform" in the group, and these three stocks were lowered to a "Sector Perform" rating:

• American Tower (NYSE: AMT); stock indicated down over 1%.
• Crown Castle (NYSE: CCI); stock indicated down 1%.
• SBA Communications (NASDAQ: SBAC); stock indicated down almost 1%.

Most of these stocks were very close to 52-week highs, so this is  a group to watch in pre-market trading as we get closer to the open.

Jon C. Ogg
June 4, 2008