T-Mobile moved about half a percent lower, around $33 per share, in extended trading.
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AT&T and Verizon still look more appealing than T-Mobile, said trader Brian Kelly. AT&T closed 2 percent higher, below $34 per share on Wednesday, while Verizon closed 1 percent higher, above $49 per share.
Trader Pete Najarian looked to a telecom name outside the U.S. He said China Mobile is his favorite stock in the sector, as it has been "crushing it."
The stock closed more than 2 percent higher on Wednesday, above $67 per share.
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Pete Najarian is long AMAT, BABA, BAC, BMY, BP, CSX, DISCA, FOXA, GE, KKR, KO, LLY, LOCO, MRK, PEP, PFE and SAP. He is long calls AAL, AAPL, AMD, BABA, BAC, BK, CAM, CDW, CLR, COP, DAL, FB, FEYE, GE, GM, GRPN, GS, GT, HCP, HPQ, IAG, JPM, KO, KNDI, KRFT, LYB, MSFT, NEE, PEP, RAD, RF, RIG, SPY, SYY, TEVA, UAL, UFS, WFC, WMB, XLNX and XOM. He is long puts BHP. Today he bought RAD calls and SAP.
Brian Kelly is long BTC=, U.S. dollar, GLD, CTRL calls, HYG puts, BBRY, BBRY call spreads and TLT. He is short EWA, EWQ, EWZ, EWW, JJC, Canadian dollar, yen and yuan.
Karen Finerman is long BABA, BAC, C, FINL, FL, GOOG, GOOGL, JPM, M and KORS. She is short DIA. Her firm is long AAPL, BAC, C, CMLS, DIS, FINL, FBT, FL, GPS, GOOG, GOOGL, GLNG, LPG, IBB, JPM, M, KORS, NAP, OIH, XBI, SUNE and URI. Her firm is long calls URI. Her firm is short MOY, IWM, SPY and USO. Karen Finerman is on the board of GrafTech International.
Steve Grasso is long BA, CLVS, EVGN, FB, GDX, GOOGL, IMMR, KBH, KDUS, MHY, MJNA, PFE, POT, SO, T, TMUS and TWTR. His firm is long AMZN, NE, NEM, OXY, RIG, VALE, AVP, KO, MCD amd USO. His kids are long EFG, EFA, EWJ, IJR and SPY.