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 - Get Report) 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.

Adobe Systems ( ADBE - Get Report) 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 - Get Report) 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 - Get Report) 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.

"Teaming with Check Point on the DDoS Protector line of security appliances brings together two industry leaders in a best-of-breed solution to help business effectively detect and block in seconds the type of DoS attacks that overuse network and application resources," said Radware's Vice President of Corporate Development and Strategic Business, Shai Schiller in the company press release.

--Written by Nathalie Pierrepont in New York.

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