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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
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July 31, 2014
08:41 EDTROVIRovi, TP Vision enter multi-year licensing agreement
Rovi announced that it has entered into a multi-year patent license agreement with TP Vision. The licensing terms grant TP Vision use of Roviís discovery patent portfolio for its Philips-branded TV models and related second-screen companion applications and services across multiple international regions.
07:50 EDTROVIRovi price target raised to $33 from $27 at Brean Capital
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July 30, 2014
16:11 EDTROVIRovi sees FY14 adjusted EPS $1.52-$1.80, consensus $1.71
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16:05 EDTROVIRovi reports Q2 adjusted EPS 43c, consensus 40c
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