Frontier (FTR -1.6%) ticks lower as two rural telco peers head in opposite directions following...

Frontier (FTR -1.6%) ticks lower as two rural telco peers head in opposite directions following their Q1 reports. CenturyLink (CTL +1.9%) is rallying in response to an EPS beat and reaffirmed free cash flow guidance, and Windstream (WIN -4.2%) is selling off due to a revenue/EPS miss caused by ongoing wholesale and (to a lesser extent) consumer weakness. Also: Highfields Capital's Jonathan Jacobson made a bear case for AT&T today featuring arguments - slumping wireline revenue and a potentially unsustainable dividend yield - that are often levied against rural telcos. (transcripts: CenturyLink, Windstream) (Frontier Q1: I, II)