What they reported this morning beat my expectations, but it's hard to overlook the slowing customer growth.

I would have thought somewhere between $10.50 and $11 a share would have been a better price before I saw the 4,000 net (customer) adds.

Clearly, across the industry minutes of use are not growing as much as they did ... this is causing ARPU to start to slip.

It's a little bit disappointing. Part of it is an industry slowdown and part, I suspect, is the distraction of the merger.

After those several years of great growth, people's expectations have been very high - probably too high. And at the first sign of a slowdown they react they other way.

It confirms everyone's expectations that they'll raise rates in March. When growth is improving, you don't want to fuel extra speculation.