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Research in Motion, Sony: Tech Winners & Losers (Update 1)

Written by: Nathalie Pierrepont 06/20/12 - 4:57 PM EDT
Tickers in this article: ABD NFLX RIMM SNE CHKP ADBE
Updated from 2:35 p.m. EST to provide updated closing prices and information on Adobe Systems and Advanced Micro Devices.

NEW YORK (TheStreet) -- Shares of Research in Motion(RIMM) fell 3.86% to $10.33 on Wednesday after reports swirled that the company is cutting jobs.

Netflix(NFLX) shares dropped 2.39% to $68.16 on Wednesday.

If the company is unable to obtain top film rights in the United Kingdom by next summer, it may ask British regulators to launch a second movie monopoly probe against News Corp(NWS) 's BSkyB, according to paidContent.

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Adobe Systems(ADBE) cut its revenue outlook for 2012 on Tuesday, citing weaker demand forecast in Europe.

Adobe said it expects third-quarter revenue to be between $1.075 billion and $1.125 billion, slightly below Wall Street's forecast of $1.133 billion. Excluding items, the San Jose, Calif.-based firm expects to earn between 56 cents and 61 cents a share. Analysts surveyed by Thomson Reuters had predicted earnings of 61 cents a share. Shares declined 2.74% to $31.99 on Wednesday.

Shares of Advanced Micro Devices(AMD) rallied 4.30% to $6.06 on Wednesday after a slight decline on Tuesday.

Despite the first year-over-year drop in LCD-TV's television shipments, according to research firm NPD Group, shares of Sony(SNE) climbed 3.02% to $13.97.

Sony holds 9.4% of the flat panel TV market, but lags behind leader Samsung Electronics. Samsung holds a 26% market share, and LG Electronics has 14.6% of the market.

Check Point(CHKP) shares rose 3.93% on Wednesday, reaching $50.55, after announcing it had entered into a partnership with Radware(RDWR) , a provider of application delivery and application security solutions.

Under the agreement, Check Point will base its DDoS Protector appliances on Radware's Attack Mitigation System.