Alcatel Lucent ELIMINATES 5K Jobs and 3 Heavily Traded Shares Moving the Market

Sirius XM Radio Inc‘s (NASDAQ:SIRI) chief Chris Fraser reports that investors can plan on a number of notable developments in the months ahead as the company starts to ratchet up project development.

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Nokia Corporation (NYSE:NOK): To reduce costs, Nokia has called off a software project (code named Meltemi) which it had anticipated would provide competition for Google’s Android (NASDAQ:GOOG) phones, according to sources reporting to Reuters.

Alcatel Lucent SA (NYSE:ALU) reports more reductions to its worldwide headcount of about 5,000 people. The company said it is leaving or restructuring unprofitable Managed Services contracts with related headcount decreases.

LSI Corporation (NYSE:LSI) announced outcomes today for its second quarter, ended July 1, 2012. ”We are pleased with our performance in the second quarter as we delivered strong growth and further expanded our profitability in a challenging macroeconomic environment,” said Abhi Talwalkar, company president and chief executive officer. ”Demand, particularly for our flash-related products, was driven by rapid adoption across client and datacenter computing where customers are increasingly turning to LSI to enhance or accelerate application performance.”

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