There are widespread rumors that Nokia Corporation (ADR) (NYSE:NOK) could be re-entering the handset business. It is reported that the Finnish company is preparing a smartphone that will run on Google Inc (NASDAQ:GOOGL) Android OS.
Nokia Corporation (ADR) (NYSE:NOK) sold its handset-making unit to Microsoft Corporation (NASDAQ:MSFT) for about $7.4 billion earlier this year. However, it appears as though the company still harbors appetite for phone business. While its new phone devices are not likely to bear the Nokia brand name, they are expected to be on the market and possibly compete with those offered by Microsoft and other manufacturers. It had also earlier been reported that Microsoft was considering dropping the Nokia brand from its devices in favor of Lumia brand.
An insider at JDS Uniphase Corp (NASDAQ:JDSU) this week offloaded shares in the company, SEC filings revealed. Luke M. Scrivanich, an SVP in the company, sold 12,435 shares at an average price of $13.67 apiece but retained 12,638 shares after the transaction.
Meanwhile, JDS Uniphase Corp (NASDAQ:JDSU) may end up merging its optical business to a rival company before it eventually spins it off. According to Michael Genovese of MKM Partners, it makes a lot of economic senses to merge the business before separating it. He cited that JDS Uniphase Corp (NASDAQ:JDSU) could merge its optical arm with Finisar Corporation (NASDAQ:FNSR). The companies company is expected to enjoy good pricing leverage. Additionally, the merger is also expected to lead to more industry consolidation, which also has its benefits.
JDS Uniphase Corp (NASDAQ:JDSU) reported adjusted earnings of $0.07 per share in the latest quarter, topping the estimate of $0.04. Revenue came in at $433 million, also ahead of $416 million that analysts estimated.
Sprint Corporation (NYSE:S)’s Marcelo Claure is making good his promises regarding cost-cutting. The CEO promised to cut costs to make the business more efficient and profitable. As such, the company has announced plans to eliminate 2,000 more jobs from its ranks. The layoffs are expected to lead to $400 million in savings related to labor. Sprint Corporation (NYSE:S) is targeting $1.5 billion in annual cost saving.
It has also been noted that Sprint and AT&T Inc. (NYSE:T) are making it hard for users to unlock their phones.
Sprint Corporation (NYSE:S) posted a wider loss in the most recent quarter. The telecom carrier posted a loss of $0.19 per share, which was bigger than the loss of $0.18 last year. Analysts were expecting a loss of $0.10 per share. However, revenue for the figure was up $8.49 billion, up from $7.75 billion in the like quarter last year.