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.

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Earnings Laggard: Microsoft Corporation, Marvell Technology, E TRADE Financial, Chipotle Mexican (MSFT, CMG, MRVL, ETFC)

Marvell Technology Group Ltd.(NASDAQ:MRVL) shares tumbled 8% in after hours trading after the company trimmed earnings forecast for the third quarter amid uncertain economic conditions and a weak PC market.

The company now projects to generate revenue of $765 million to $785 million, missing analysts’ target of $800 million.

Will MRVL Recover After The Tumble? Find Out Here

Separately , the company’s chief financial officer, Clyde Hosein, has stepped down “to pursue other opportunities.” The company has named controller Brad Feller as an interim replacement.

E TRADE Financial Corporation(NASDAQ:ETFC) swung to third-quarter loss because of lower trading volumes and a number of one-time charges. The company posted net loss of $28.6 million, or 10 cents a share, reversing a year ago profit of $70.7 million, or 24 cents a share, missing analysts target of a profit of 10 cents a share.

Total net revenues also slid to $490.04 million, from $507.28 a year ago, ahead of analysts target of $440.12.

Shares of the firm slid 2%.

Chipotle Mexican Grill, Inc.(NYSE:CMG) tumbled 13% in late trading as after the company reported a weaker than estimated third quarter earnings.

The company said that net income grew 20% year over year to $72.3 million, or $2.27 per share, from $60.4 million, or $1.90 per share, a year ago quarter, but missed analysts target by 2 cents.

Revenue also came in at $700.5 million, again missing analysts’ estimate of $702.9 million. Same-store revenue jumped 4.80%.

Microsoft Corporation(NASDAQ:MSFT) reported first quarter earnings of $4.47 billion, or 53 cents a share, missing analysts’ estimate by 3 cents. Revenue came in at $17.36 billion, surpassing analysts’ target of $16.42 billion.

The Server & Tools business reported $4.55 billion in first-quarter revenue, an 8% increase year over yar, The Microsoft Business Division posted $5.50 billion in first-quarter revenue, a 2% decrease from the prior year period.

The Windows & Windows Live Division posted revenue of $3.24 billion, a 33% decrease from the prior year period.

Microsoft reaffirms fiscal year 2013 operating expense guidance of $30.3 billion to $30.9 billion.

Shares of MSFT are down 2.36% in after hours trading.

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