Macquarie's Kevin Smithen is cutting his PTs on wireless carriers Sprint (S -5%), Leap Wireless...

|About: Sprint Corporation (S)|By:, SA News Editor
Macquarie's Kevin Smithen is cutting his PTs on wireless carriers Sprint (S -5%), Leap Wireless (LEAP -10.3%), and MetroPCS (PCS -6.2%), as well as rural wireline carrier Frontier (FTR -6.7%), on a belief that the recent breakdown in the high-yield debt market will both produce higher borrowing costs and hurt equity values.