JDS Uniphase Corporation (NASDAQ:JDSU) among the gainers and the stock jumped up 8.43% to $11.58. The Company reported fourth quarter loss of $24.3 million or 10 cents per share compared to profit of $9.3 million or four cents per share in the prior year period. However, analysts expected per-share earnings of 12 cents. Revenue decreased 6.9% to $439.3 million. Gross margin was 41.6% from 43.3%. Revenue from the test-and-measurement segment declined 7.1%. Revenue from the communications and commercial-optical products segment reduced 8.6%.
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Nokia Corporation (ADR) (NYSE:NOK) went up 3.61% to $2.58. Standard & Poor's Ratings Services has lowered its long-term corporate credit rating on Nokia Oyj to BB- from 'BB+' and affirmed its 'B' short-term corporate credit rating. The outlook is negative. The decline in rating reflects a downward revision of S&P's estimates of revenues and profitability for Nokia's smartphone operations in 2012 and 2013.
Vringo Inc announced the closing of previously announced registered direct offering. Nokia agreed to sell to Vringo a portfolio consisting of over 500 patents and patent applications worldwide. Vringo anticipates receiving assignments of the patents and patent applications over the next three months.
Sirius XM Radio Inc (NASDAQ:SIRI) is up marginally 0.24% to $2.54. Liberty Media disclosed in an SEC filing that that it has purchased another 89.97 million shares. This will increase the Company’s stake to 48% from 46.2%.
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Diamond Offshore Drilling Inc (NYSE:DO) went up 0.35% to $67.87. The Company’s subsidiary has entered into a contract with Jurong Shipyard of Singapore to build a moored semisubmersible rig with delivery scheduled for the second quarter of 2014. Total cost for the project is expected to be approximately $370 million.
AMC Networks Inc (NASDAQ:AMCX) decreased 2.94% to $39.94. Charles F. Dolan on August 14, 2012 sold 1,750,000 shares of Class A Common Stock for liquidity and tax planning purposes. This information was provided to the Company.