NEW YORK (TheStreet) -- Why are shares of Crown Castle International (CCI), American Tower (AMT) and SBA Communications (SBAC) higher Thursday when the S&P 500 is down roughly 0.4%? TheStreet's Jim Cramer wondered.
At first, Cramer, the portfolio manager of the Action Alerts PLUS portfolio, thought these tower companies were higher thanks to Ciena Corp. (CIEN) beating earnings per share and revenue estimates. Revenue alone rose 11% year over year, he said during CNBC "Stop Trading" segment.
Ciena shares are up nearly 2% on the earnings results, Cramer said. But he thinks the potential merger between Dish Network (DISH) and T-Mobile U.S. (TMUS) is the catalyst behind the rally in tower stocks.
Cramer explained that investors may believe these companies have assets that will appeal to other buyers in the future, making the stocks more attractive.
"All of these companies are very well run," he said, adding "I'm not going to tell you not to buy them."