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Stock Market & Financial Investment News

News Breaks
January 6, 2014
08:33 EDTROVI, AMXRovi signs agreement with America Movil
Rovi (ROVI) announced it has signed a multi-product agreement with América Móvil (AMX). The agreement includes Rovi’s suite of Cloud Services for guidance, search, recommendations and extensive metadata on TV shows, movies and celebrity information.
News For ROVI;AMX From The Last 14 Days
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April 20, 2015
17:04 EDTROVIOn The Fly: Top stock stories for Monday
Stocks on Wall Street were higher for the day, beginning the session sharply higher and remaining in positive territory throughout. China’s central bank announced a reduction in bank reserve requirements in an effort to increase liquidity and spur economic growth within the country. Following the open, the market moved in a relatively narrow range as investors await the latest round of earnings reports for one of the season's heavier weeks. ECONOMIC EVENTS: In the U.S., the Chicago Fed National Activity Index came in at 0.42 versus expectations for positive 0.1. In Asia, the People's Bank of China lowered its reserve requirement ratio, by 1 percentage point, the lowest since the financial crisis. Despite this, the Shanghai Composite Index fell 1.6% because regulators had already begun curbing speculative trading on Friday. COMPANY NEWS: Morgan Stanley (MS) advanced 0.57%, or 21c, to $36.96 after reporting earnings prior to the market open. The bank beat on both EPS and revenue, and also raised its dividend to 15c from 10c. CEO James Gorman was pleased with the quarter and cited growth across the majority of the company's operations. MAJOR MOVERS: Among the notable gainers was Hasbro (HAS), which rose 12.55% to end the session at $74.16 after reporting EPS and revenue in excess of analyst expectations. During its earnings conference call, the company appeared confident on its 2015 offerings which include Disney (DIS) Princess and Frozen product lines. Also higher was Rovi (ROVI), gaining 8.64% to close the day at $19.11 after renewing its licensing and program guide agreement with Charter (CHTR). Among the noteworthy losers was Caesars Entertainment (CZR), tumbling 17.01% to $10 after failing to reach an agreement on its restructuring. Also lower were a number of medical companies involved in the development of CAR-T cancer therapies, including Kite Pharma (KITE), Juno Therapeutics (JUNO), blue bird bio (BLUE), and ZIOPHARM Oncology (ZIOP). The drop followed disappointing, small-scale studies presented during the annual meeting of the American Association for Cancer Research. INDEXES: The Dow rose 208.63, or 1.17%, to 18,034.93, the Nasdaq advanced 62.79, or 1.27%, to 4,994.6, and the S&P 500 gained 19.22, or 0.92%, to 2,100.4.
12:31 EDTROVIOn The Fly: Top stock stories at midday
Stocks on Wall Street were higher at midday after China’s central bank relaxed reserve requirements for its banks. The nation's own stock market struggled to overcome the cross current of other actions taken to cut down on speculative trading there, but U.S. stock markets surged at the open and had not looked back by midday. The domestic economic calendar has quiet and earnings continue to be the focal point at home, as a great number of S&P 500 companies prepare to report this week. ECONOMIC EVENTS: In the U.S., the Chicago Fed National Activity Index had a reading of -0.42, versus expectations for a +0.10 reading. A reading below zero represents economic activity below trend. In China, the People's Bank of China cut the reserve-requirement ratio, or the amount of reserves lenders need to hold, by 1 full percentage point, which was the biggest cut since the depths of the financial crisis and more than expected by economists. However, the Shanghai Composite Index still dropped 1.6%, since the reserve-requirement cut came after regulators had moved to curb speculative trading with actions taken Friday. COMPANY NEWS: Shares of Morgan Stanley (MS) advanced 1% after the bank's headline earnings excluding certain adjustments and tax benefits beat expectations. CEO James Gorman noted that the first quarter of the year was the bank's "strongest quarter in many years with improved performance across most areas of the firm." Morgan Stanley also increased its quarterly dividend to 15c per share from 10c per share. MAJOR MOVERS: Among the notable gainers was Hasbro (HAS), which gained 10% after the toymaker's sales and profits widely topped expectations in its fiscal first quarter. Also higher was Rovi (ROVI), which gained more than 10% after the company announced it has renewed its patent license and interactive program guide product agreement with Charter Communications (CHTR). Among the noteworthy losers was FARO Technologies (FARO), which dropped 25% and was downgraded by Noble Financial and Needham after the preannounced lower than expected first quarter revenue. Also lower were a number of companies that are developing CAR-T cancer therapies following the annual meeting of the American Association for Cancer Research. Mizuho analyst Peter Lawson attributed the pullback to disappointment in this weekend's solid tumor data on a small number of patients with advanced cancers who were given CAR-T therapy developed by Novartis (NVS) and the University of Pennsylvania. Shares of Kite Pharma (KITE), Juno Therapeutics (JUNO), blue bird bio (BLUE), and ZIOPHARM Oncology (ZIOP) were all lower near noon. INDEXES: Near midday, the Dow was up 236.19, or 1.32%, to 18,062.49, the Nasdaq was up 59.54, or 1.21%, to 4,991.35, and the S&P 500 was up 21.82, or 1.05%, to 2,103.00.
12:08 EDTROVITiming of Rovi renewal with Charter a plus, says JPMorgan
JPMorgan said the timing of the closing of Rovi's (ROVI) renewal of its IP and programming guide agreement with Charter (CHTR) is advantageous given Rovi's other impending renewals and should give some confidence that large service provider renewals don't hinge on the outcome of the company's court case with Netflix (NFLX). However, the firm added that it would not be surprised to see more volatility in Rovi shares if court rulings favor Netflix and it kept a Neutral rating on the stock.
09:52 EDTROVIRovi deal with Charter a 'material' positive, says Piper Jaffray
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08:01 EDTROVIRovi, Charter sign multi-year license renewal
Rovi (ROVI) announced that the company has renewed its patent license and interactive program guide product agreement with Charter Communications (CHTR). The license renewal extends Charter’s IPG patent license. Under the terms of the agreement, Charter will also be able to license Rovi’s products and services, including Rovi Search, Recommendations and Conversation Services, Rovi Metadata and Rovi Analytics.
07:41 EDTROVIRovi shareholders should stay with current management, says Brean Capital
Brean Capital thinks shareholders should stay the course with Rovi's current management, as they believe there is little merit in the charges of activist shareholders. The firm sees concerns about the company's IP position as overweighted and noted the company is involved in product development which should strengthen its market position and technology base. Brean Capital reiterated its Buy rating and $31 price target on Rovi shares.
April 16, 2015
09:06 EDTROVIEngaged Capital says Rovi needs aligned shareholder representation
Engaged Capital, an investment firm specializing in small and mid-cap North American equities and beneficial owner of 550,000 shares of the common stock of Rovi, sent a letter to shareholders in connection with its campaign to elect three directors at the company's May 13 annual meeting, which states in part: "We believe the incumbent Board displays all the hallmarks of a broken and unaccountable governance structure that has incubated poor decision making and led to the continued destruction of shareholder value. We have engaged privately with the Board over many months and proposed a compromise on Board reconstitution that would give shareholders a voice in the boardroom. However, after the Board’s repeated failure to engage in a constructive manner, we lost confidence in their ability to act in the best interests of Rovi shareholders...In seeking minority Board representation, we have struck what we believe is a careful balance between adding fresh perspective and needed expertise to the Board, and maintaining a significant level of Board continuity."
April 15, 2015
08:35 EDTROVIRovi to power DISH's voice-based TV interface
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April 14, 2015
08:35 EDTROVIRovi selected by Entone for cloud-based guide
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April 13, 2015
07:04 EDTROVIRovi urges investors to vote for director nominees at annual meeting
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April 10, 2015
10:07 EDTAMXHigh option volume stocks
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April 9, 2015
05:18 EDTROVIDigital Realty names Michael Henry SVP and Chief Information Officer
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April 7, 2015
08:04 EDTAMXAsurion announces new partnership with America Movil
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