JDS Uniphase Lower as Merger With SDL Delayed

JDS Uniphase (JDSU Quote - Cramer on JDSU - Stock Picks) was down 6.3% in preopen Island trading after announcing that its merger with SDL (SDLI Quote - Cramer on SDLI - Stock Picks) will not be completed until February due to regulatory concerns. The fiber-optic component suppliers had said the deal would be completed this month. JDS Uniphase was downgraded to outperfrom from buy at Salomon Smith Barney. It is due to report earnings after the close. SDL posted fourth-quarter earnings of 53 cents per share, ahead of the Street's 49-cent estimate and the year-ago 17 cents. SDL was down 6.1%.