NEW YORK (TheStreet) -- BlackBerry (BBRY) fell Tuesday, following an analyst report that lowered the company's anticipated fiscal first-quarter revenue projections. Frontier Communications (FTR), meanwhile, rose higher on an upgrade by Bernstein analyst.
BlackBerry fell 1.4% to close at $9.26, on a day when the broader market rode higher.
The smartphone and tablet maker faces challenging times ahead as it tries to convert users from its EZ Pass licensing program to its newer BES 12 management software, according to a Raymond James analyst cited in a Barron's report. The analyst lowered BlackBerry's first quarter revenue projections, as a result, to $668 million from $709 million, according to the Barron's report.
BlackBerry is slated to report its first quarter earnings on June 23.
Frontier Communications jumped 1.8% to end the session at $4.97.
The rural and small community telephone service provider received a lift after a Bernstein analyst upgraded the company's stock to outperform from market perform, according to a report in Benzinga.
Bernstein increased its recommendation based on the company's anticipated acquisition of some of Verizon Communications (VZ) wireline assets, as well as its quarterly results, according to Benzinga.
Frontier Communications, meanwhile, announced it received in excess of $283 million in annual funding from the Federal Communications Commissions' Connect America Funding program, which will be used to expand broadband service to 650,000 underserved locations in its 28-state area.