After the close

Maker of Blackberry, Research in Motion (RIMM: chart) settled with NTP to end its long running patent litigation for $612.5 million. The four-year old patent dispute could have been settled at one time for less than $10 million. According to the company release that it may not meet its new subscriber target this quarter and lowered its estimate of new subscribers to 620,000 to 630,000 from 700,000 to 750,000.

The company will record additional one-time charge of $162.5 million in the fourth quarter earnings to be reported on April 6th. The company had already recorded one time charge of $450 million in prior quarters.


4:15 PM ET – U.S. Markets close

Rising bond yields did not drag markets lower but that can not be said of home builders stocks. Leading home builders declined in the morning and stayed in the negative territory for the day.

Optical components stocks rallied during this week, and continued their advance today. Shares of Finisar Corp (FNSR: chart) jumped 40% on the company releasing profit of 3 cents vs. loss of 15 cents a year ago. JDS Uniphase (JDSU: chart) rose 6% and Bookham Technologies (BKHM: chart) rose 13% in sympathy. Ciena (CIEN: chart) dropped 2% on broker downgrade on valuation concern.

It takes a broker to be bullish on another broker. CIBC said that the brokerage stocks earnings are likely to be 20% or better in the coming quarters and deserve higher valuations. On the borker’s recommendation shares of Bear Stearns (BSC: chart), Lehman Bros. (LEH: chart), Morgan Stanley (MS: chart), Goldman Sachs (GS: chart) and Legg Mason (LM: chart) rose between 1% and 2%.

3:30 PM ET - Commodities Markets

Crude oil rose but all other forms of tradable commodities closed nearly unchanged. Oil closed 31 cents higher to $63.67 per barrel. Gasoline close up 5 cents to $1.7431 and heating oil close nearly up half cent to $1.8128 per gallon and natural gas closed up 3 cents $6.79 per mmBTU.

In the metals market gold dropped $2.40 per ounce to $568 and silver closed 2.7 cents up and copper dropped 35 cents to $2.2640 per ounce.


2:30 PM ET – European Markets

Markets in Europe closed lower except and in the U.K. and Norway. Markets in U.K. were supported by the rise in telecom stocks and in Norway were supported by rise in energy prices.

Vodafon Group, U.K. based and largest telecom operator in Europe, reported that it is in talks to sell its Japanese phone unit to Softbank. The stock closed up 8.5%.

Adecco, the Swiss staffing company, closed up 1.5% on the earnings jump of 64% on revenue growth of 4%. German stocks were under pressure on the news that interest rates may rise in across the globe. Several large German exporting companies were under pressure including Bayer, Siemens and DaimlerChrysler.

Chipmakers in the region were on the decline on the news of lower revenue guidance from Intel. Infineon, STMicroelectronics and Philips Electronics traded lower.


12:30 PM ET – U.S. Earnings Update

Home Store (HOMS: chart), home listing service on the Internet, posted fourth quarter loss and revenue rise from $54 million to $66 million but posted loss of 3 cents vs. 4 cents a year ago. For the year the company generated breakeven results vs. 6 cents a year ago. The stock rose 15% at mid-day.