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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
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March 2, 2015
08:12 EDTROVIRovi activist interest could accelerate valuation, says Brean Capital
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February 27, 2015
16:35 EDTROVIRovi looking to hire financial advisor, Reuters reports
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15:58 EDTROVIRovi looking to hire financial advisor, Reuters reports
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February 25, 2015
16:17 EDTROVIRovi files to sell $300M in convertible senior notes due 2020
February 24, 2015
10:00 EDTROVIOn The Fly: Analyst Upgrade Summary
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08:47 EDTROVIRovi upgraded to Outperform from Market Perform at Barrington
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February 19, 2015
18:19 EDTROVIOn The Fly: After Hours Movers
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16:06 EDTROVIRovi repeats FY15 EPS view $1.55-$1.85, consensus $1.73
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16:04 EDTROVIRovi reports Q4 EPS 44c, consensus 41c
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15:32 EDTROVINotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Public Storage (PSA), consensus $2.19... Intuit (INTU), consensus (13c)... Consolidated Edison (ED), consensus 55c... Nordstrom (JWN), consensus $1.35... Mohawk Industries (MHK), consensus $2.21... Newmont Mining (NEM), consensus 10c... Frontier Communications (FTR), consensus 5c... Brocade Communications (BRCD), consensus 24c... Bruker (BRKR), consensus 29c... Rovi (ROVI), consensus 41c... Marvell Technology (MRVL), consensus 24c... MRC Global (MRC), consensus 46c... Equinix (EQIX), consensus $1.03.
February 17, 2015
08:53 EDTROVIRovi positioned to grind higher in 2015, says Brean Capital
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