New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
January 4, 2013
10:40 EDTROVIRovi rallies after saying it will look to sell entertainment store
Rovi (ROVI), which sells digital entertainment products, is climbing after the company announced that it would look to sell its Rovi Entertainment Store business. The Rovi Entertainment Store, which the company acquired in February 2011, sells solutions that enable users to drive revenue from over the top media delivery and cloud-based entertainment, according to Rovi. The company said it's looking to sell the store in order to focus on its core assets and intellectual property. The company estimated that its fiscal 2012 earnings per share would be $2.05-$2.10, with the store classified as a discontinued operation. The company's updated fiscal 2012 revenue forecast, with the store treated as a discontinued operation, is $645M-$650M. In a note to investors earlier today, Brean Capital analyst Todd Mitchell wrote that Rovi's decision to sell the entertainment store is positive, as he believes that such a transaction would increase the company's earnings power starting in 2013, while reducing its risk. Mitchell increased his price target on the stock to $22 from $20 and reiterated a Buy rating on the shares. In early trading, Rovi rallied 82c, or 5.17%, to $16.67.
News For ROVI From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
February 1, 2016
08:02 EDTROVIRovi and Intellectual Ventures to focus on OTT offerings
Rovi and Intellectual Ventures announced that the companies are collaborating to bring together two of the world's leading media and entertainment patent portfolios under a unified, comprehensive licensing program to focus on over-the-top, or OTT offerings. Under the new agreement, Rovi will serve as the exclusive partner for IV, licensing the companies' combined patent portfolio exclusively to OTT customers.

Sign up for a free trial to see the rest of the stories you've been missing.
I agree to the theflyonthewall.com disclaimer & terms of use