U.S. Cellular (USM), the wireless subsidiary of Telephone and Data Systems (TDS), reported disappointing third-quarter 2009 results with earnings per share of 41 cents, coming in below the Zacks Consensus Estimate of 57 cents. It also declined significantly from the year-ago EPS of $1.02. Net income plunged 60% year over year to $35.6 million as a result of decreased sales and higher operating costs.

Top-line Hit by Lower Roaming Revenue

The Chicago-based carrier reported operating revenue of $1,058 million, down 3% from $1,092 million a year ago. This decline is attributable to lower service revenue, which decreased 3% year over year to $984.9 million due to a 26% year over year reduction in inbound roaming revenues, primarily resulting from Verizon's (VZ) acquisition of Alltel.

Decline in roaming revenue was offset by healthy data revenue, which grew 34% over the prior-year quarter to $174.3 million, accounting for 18% of service

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Back in January, I advised you to dump everyone’s sweetheart dividend stock, General Electric (NYSE: GE) in favor of TEPPCO Partners (NYSE: TPP). Many balked at the idea. But the results don’t lie…

Year-to-date, General Electric is the worst-performing stock in the Dow, down 22.3%. Meanwhile, TEPPCO is up 69%, including dividends.

(If any of you took me up on my income investment recommendation, e-mail us and let us know how you did at comments@investmentu.com.)

Of course, part of the move higher for TEPPCO can be attributed to news that Enterprise Products Partners (NYSE: EPD) is buying the company, as I predicted.

For those of you that purchased the stock, I recommend you take profits now. And whatever you do, don’t reinvest them in GE.

GE: Reasons Why It’s Not a Safe Income Investment

My reasons for disliking GE as a safe income investment remain

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Need An Income Investment? Keep Dumping GE and Buy This Stock Instead

by Louis Basenese, Advisory Panelist

Back in January, I advised you to dump everyone’s sweetheart dividend stock, General Electric (NYSE: GE) in favor of TEPPCO Partners (NYSE: TPP).

Many balked at the idea. But the results don’t lie…

Year-to-date, General Electric is the worst-performing stock in the Dow, down 22.3%. Meanwhile, TEPPCO is up 69%, including dividends.

(If any of you took me up on my income investment recommendation, e-mail us and let us know how you did at comments@investmentu.com.)

Of course, part of the move higher for TEPPCO can be attributed to news that Enterprise Products Partners (NYSE: EPD) is buying the company, as I predicted.

For those of you that purchased the stock, I recommend you take profits now. And whatever you do, don’t reinvest them in GE.

GE: Reasons Why

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For Immediate Release

Chicago, IL - April 29, 2009 - Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Verizon Wireless (VZ), Vodafone (VOD), AT&T (T), Deutsche Bank AG (DB) and PartnerRe, Ltd. (PRE).

Get the most recent insight from Zacks Equity Research with the free Profit from the Pros newsletter: http://at.zacks.com/?id=4579.

Here are highlights from Tuesday's Analyst Blog:

Verizon iPhone Talks Resurface

Both Verizon Wireless (VZ) (Verizon owns 45% and Vodafone [VOD] owns 55%) and AT&T (T) have announced their quarterly results, and the rumor of a joint iPhone and Verizon Wireless deal has resurfaced.

Wireless revenue at

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Highlights include Verizon Communications, Inc. (VZ), Vodafone Group, Plc (VOD), AT&T, Inc. (T), Deutsche Telekom AG (DT) and Palm, Inc. (PALM).

Both Verizon Wireless (VZ) (Verizon owns 45% and Vodafone [VOD] owns 55%) and AT&T (T) have announced their quarterly results, and the rumor of a joint iPhone and Verizon Wireless deal has resurfaced.

Wireless revenue at AT&T grew 39% to $3.2 billion, and net wireless subscribers grew by 1.2 million. This growth was due to the sale of 1.6 million iPhone activations and the increase in data service revenue needed by most users of the iPhone (if you want to surf the web you need a data service contract).

Verizon Wireless added 1.3 million net subscribers plus those added from the Alltel acquisition. Verizon had 19.3 million smartphone subscribers at the end of the quarter, and smartphone and PDA sales accounted for 41%

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