Nokia Corporation (ADR)(NYSE:NOK) stock gained 6.25% to $2.72. The company announced that its Lumia 822, Windows Phone 8-based smartphone now will be available through a Verizon Communications Inc. (NYSE:VZ) deal.
Additionally, the company recently launched convertible bonds to generate EUR 750 million. This step will help the Finnish handset makeer to use the net proceeds of the offering to prudently manage its capital structure. It will ensure Nokia to preserve the existing pools of liquidity and to address the upcoming debt maturities.
Vringo, Inc.(NYSEAMEX:VRNG) shares are showing very volatile move this morning and moved within a wide range of $3.04-4.47. The stock gapped up this morning and rose 11% in early session and quickly turned lowered correcting over 33% from session highs. The stock is now down 6.50%. On Tuesday, October 30, Google filed two Motions for Judgment as a Matter of Law, which essentially seek dismissal of Vringo's claims against them. A motion for judgment as a matter of law is a "during or post trial" equivalent of a motion for summary judgment. Investors are getting optimistic on the company’s lawsuite against the company and expecting the company to win the case.
Additionally, the company, early this month, filed a lawsuit against ZTE Corp.'s U.K. unit for alleged infringement of its patents for handsets, base stations and base station controllers. Representatives of ZTE weren't immediately available for comment.
UBS AG (USA)(NYSE:UBS) shares gained 13.50% to $14.97. The company is putting about 100 traders at the fixed-income unit in London on leave as Switzerland’s largest lender shrinks its investment bank. UBS boosted its profitability goal and announced plans for about 10,000 job cuts as Chief Executive Officer Sergio Ermotti scales back the investment bank to focus on wealth management.
ANADIGICS, Inc. (NASDAQ:ANAD) stock increased 10.95% to $1.52. The company reported third quarter 2012 net sales of $28.6 million, an increase of 14.1% sequentially and a decrease of 23.1% from the third quarter of 2011. GAAP net loss for the third quarter of 2012 was $17.0 million, or ($0.24) per diluted share. Non-GAAP net loss for the third quarter of 2012 was $15.3 million, or ($0.21) per diluted share.
PVH Corp(NYSE:PVH) stock soared 21.86% to $111.44 after the company said it has agreed to buy The Warnaco Group Inc for about $2.9 billion in cash and stock. PVH is offering Warnaco shareholders $51.75 in cash and 0.1822 of a share of PVH common stock for each Warnaco share. The company said it has commitments for $4.33 billion in financing from Barclays, BofA Merrill Lynch and Citigroup Global Markets Inc.