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) - Get Report

'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) - Get Report

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) - Get Report

, 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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