Clearwire Corporation Plunges 12% (CLWR, MPEL, ETFC, AONE, LULU)

Clearwire Corporation(NASDAQ:CLWR) shares dropped 11.82% to $1.79. The company plans to announce its third quarter 2012 financial results on Thursday, October 25, 2012.

Additionally, Reuters reported that Sprint Nextel Corp has acquired a majority interest in Clearwire Corp after buying a stake from one of the Company's other shareholders. Sprint reached the deal with Eagle River Holdings on October 17, 2012 and now controls a 50.8% stake in Clearwire.

Will CLWR Rebound After The Recent Slump? Find Out Here

However, Sprint Nextel Corp. said it doesn’t have control of Clearwire Corp. despite its majority stake in the spectrum-rich Washington company.

Melco Crown Entertainment Ltd (ADR)(NASDAQ:MPEL) shares declined 1.20% to $13.99 in the morning hour after the company announced that its 60% owned indirect subsidiary, Studio City Company Limited ("SCC") has entered into a commitment letter (the "Commitment Letter") with a group of mandated lead arrangers for US$1.4 billion senior secured credit facilities (with both Hong Kong dollar and U.S. dollar tranches) which is expected to consist of: (i) a US$1.3 billion equivalent delayed draw term loan facility and (ii) a US$100 million equivalent revolving credit facility, both of which will mature 5 years from the signing of definitive legal documentation.

E TRADE Financial Corporation(NASDAQ:ETFC) stock decreased 8.49% to $8.62 after the company announced third quarter net loss of $28.63 million, or $0.10 loss per share, compared to net income of $70.70 million, or $0.24 per share in the third quarter of 2011. Total net revenues were $490.04 million for the third quarter of 2012, compared with $507.28 million in the third quarter of 2011. Analysts expected the company to report earnings of $0.08 per share on revenues of $440.12 million for the quarter.

Additionally, ETFC’s stock had its target price trimmed by Goldman Sachs to $8.00 in a report released today. Goldman Sachs currently has a neutral rating on the stock.

A123 Systems, Inc.(NASDAQ:AONE) stock climbed 50.53% to $0.0113 after the company, that filed for bankruptcy this week, won court approval to borrow as much as $15.5 million from Johnson Controls Inc. while it prepares to sell its assets. U.S. Bankruptcy Judge Kevin Carey approved the interim financing at a hearing in Wilmington, Delaware, after Johnson Controls cut the interest rate to 13.5% from 15% following talks held during a break. A123 is scheduled to return to court Oct. 30 to seek approval of the remainder of the $72.5 million loan.

Lululemon Athletica inc.(NASDAQ:LULU) stock declined 6.49% to $69.79. Lululemon is retreating after Credit Suisse wrote that the company is offering slightly more discounts and producing more casual apparel. As a result of these developments, the firm is "somewhat concerned" that Lululemon's new products are eliciting a weaker than expected response.