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December 6, 2013
12:34 EDTSEAC, DOX, ROVISeaChange plummets after results, guidance trail estimates
SeaChange (SEAC) shares are sinking after the companyís third quarter results and fourth quarter guidance fell short of analystsí consensus estimates. WHAT'S NEW: Last night, SeaChange reported Q3 earnings per share of 9c and revenue of $37.8M. Analysts' expectations were for EPS of 15c and revenue of $41.54M. WHAT'S NOTABLE: SeaChange said it expects Q4 EPS of 15c-20c and revenue of $40M-$45M, compared to the consensus estimates of 36c and $52.17M. The company, which is involved in the delivery of multi-screen video, said its outlook reflects anticipated delays in receiving customer acceptances of new products and finalization of agreements for Nucleus and Adrenalin. ANALYST REACTION: This morning, research firm Brean Capital defended SeaChange, saying the companyís Q3 shortfall was not as bad as it appeared. The firm accepted management's explanation as credible, and expects success with next generation products in its pipeline. Brean Capital said the company is a highly strategic asset to a large hardware centric vendor in the space. It maintained its Buy rating on the shares with an $18 price target. PRICE ACTION: In early afternoon trading, SeaChange fell $2.43 or about 16.9% to $11.97 on nearly seven times its average daily trading volume. Despite todayís slide, the stock is up approximately 22% year to date. OTHERS TO WATCH: SeaChangeís competitors include Rovi Corporation (ROVI), and Amdocs limited (DOX).
News For SEAC;ROVI;DOX From The Last 14 Days
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April 9, 2014
06:07 EDTROVIRovi sell-off on patent ruling unwarranted, says Brean Capital
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06:01 EDTROVIRovi sell-off on patent ruling a buying opportunity, says Piper Jaffray
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April 8, 2014
16:21 EDTROVIOn The Fly: Closing Wrap
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15:02 EDTROVIRovi issues statement in response to court ruling in Amazon case
The U.S. Court of Appeals issued its decision in Roviís (ROVI) patent infringement litigation against Amazon (AMZN). Rovi had sued Amazon for infringing the two patents at issue in the decision. The appeals court sided with Amazon and found that the District Courtís interpretation of the claims of the patents was correct and therefore Amazon did not infringe these patents. "We are disappointed by this decision," said Rovi executive VP Samir Armaly, worldwide intellectual property and licensing. "It should be noted that this decision relates to only two patents in our extensive portfolio. We believe that our portfolio is even more relevant to Amazon today and going-forward than when the present litigation began in early 2011. Since that time, Amazon has continued to expand its video and over-the-top offerings through new products like the recently announced Fire TV. As illustrated by various recent agreements, Roviís patent portfolio continues to be recognized by leading companies looking to deliver compelling video experiences across multiple screens. We plan to continue to pursue Amazon going-forward to take the necessary licenses under our patent portfolio, not only to protect our rights but also the rights of our existing licensees in this space."
13:24 EDTROVIRovi weakenss a buying opportunity, says B. Riley
B. Riley said Rovi (ROVI) weakness related to the Amazon patent case is overdone and that the patents in question are old.
11:48 EDTROVIRovi down over 7% after appeals court ruling with Amazon
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11:25 EDTROVIAppeals court upholds ruling that Amazon did not infringe Rovi patents
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11:07 EDTROVICourt rules did not infringe on Rovi patent, Bloomberg says
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April 7, 2014
08:56 EDTSEACSeaChange lack of warning could be seen as positive, says BWS Financial
BWS Financial believes SeaChange shares should begin to move higher after the company's in-line Q4 report came with no additional warnings and management reasserted that revenue that was delayed in FY14 would be recognized in FY15. BWS maintains a Strong Buy rating and $30 price target on SeaChange.
April 4, 2014
08:33 EDTSEACSeaChange results not as bad as it seems, says Brean Capital
Brean Capital believes the Q4 results from SeaChange were not as bad as they appeared. The firm said their own due diligence confirms a reversal of fundamental trends in the second half of 2015 and the potential for dramatically improved results in 2016. Shares remain Buy rated with a $14 price target.

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