Feb. 12, 2014, 4:12 PM
Feb. 12, 2014, 12:10 AM
Feb. 11, 2014, 5:35 PM
Jan. 8, 2014, 6:09 PM
- After deciding to sell its Entertainment Store and consumer website businesses last July, ROVI has now decided to unload its DivX video codec licensing business. The company suggests the business, which has been pressured by the growing popularity of various alternative codecs, was good for 2013 revenue of $70M-$75M, and EPS of $0.25-$0.30. (8-K)
- Rovi now expects 2013 revenue and EPS to be at the high end of the guidance ranges it claims would have been provided in October, had the DivX unit then been treated as a discontinued operation.
- Not counting DivX, Rovi expects 2014 revenue of $510M-$550M and EPS of $1.55-$1.85; the consensus (includes DivX) is at $619M and $1.98. Rovi's IP licensing business is expected to see revenue of $283M, down from 2013's $293M. Cost of goods sold is expected to fall to $78M from $82.5M, and opex is expected to rise to $220.2M from $218.5M.
- Rovi also discloses it bought back 4.2M shares in Q4, and paid down $200M in debt.
- Shares are down AH after rising 2.9% in regular trading, gradually paring the early gains they saw in response to news of several licensing deals.
Jan. 8, 2014, 10:51 AM
- Rovi (ROVI +8.3%), hit hard last year by legal setbacks and licensing challenges, has announced a multi-year patent license deal with YouTube owner Google that covers Rovi's video discovery technologies. (PR)
- Rovi has also announced a video discovery IP licensing deal with Samsung that covers mobile devices, a licensing deal with LG related to video metadata (i.e. information about video content) for smart devices, and a multi-year renewal of its DivX video codec licensing deal with Sharp that covers the next-gen HEVC video compression format.
- Terms for the licensing deals are undisclosed.
Nov. 12, 2013, 9:44 AM
- Voxeljet (VJET -3.5%) has received one bullish rating and two neutral ones on underwriter coverage day.
- Veeco (VECO -3.6%) has been cut to Sell by Noble Financial, and started at Sell by Canaccord. The company delivered mixed Q3 results last Friday.
- Rovi (ROVI +4.1%) has been upgraded to Sector Perform by Pac Crest. The upgrade comes as Rovi announces a DivX video codec licensing deal with Panasonic. Goldman cut shares to Sell last week, following the company's Q3 miss.
- Gogo (GOGO +2.2%) has been cut to Neutral by UBS after flying higher yesterday thanks to a Q3 beat and strong Q4 guidance.
- Faro (FARO -2%) has been cut to Hold by Stifel. Shares closed yesterday near their 52-week high, after surging two weeks ago in response to a Q3 beat.
- Cyan (CYNI +4.2%) has been started at Market Perform by FBR. With shares having closed near their post-IPO lows yesterday, investors seem pleased.
Nov. 5, 2013, 9:41 AM
- BlackBerry (BBRY +3.5%) has been upgraded to Hold by Deutsche and SocGen, and cut to Underperform by CIBC, in the wake of yesterday's events.
- NQ Mobile's (NQ -12.6%) rating has been suspended by Piper as the Muddy Waters debate continues to boil. SA contributor Goldbaum Research has provided another bearish column this morning.
- SunEdison (SUNE +4.9%) has been upgraded to Overweight by Piper ahead of tomorrow's Q3 report.
- Rovi (ROVI -3.3%) has been cut to Sell by Goldman a week after missing Q3 estimates and cutting full-year guidance.
- TTM Technologies (TTMI +10.6%) has been upgraded to Overweight by JPMorgan a few days after tumbling due to a Q3 miss, soft guidance, and a CEO change.
Oct. 30, 2013, 5:45 PM
Oct. 30, 2013, 4:53 PM
- JDS Uniphase (JDSU) expects FQ2 revenue of $420M-$440M, below a $456.9M consensus. Shares -6% AH. (FQ1 results, PR)
- Jive Software (JIVE) expects Q4 revenue of $38.5M-$39.5M and EPS of -$0.15 to -$0.17 vs. a consensus of $40.1M and -$0.16. Shares -9.6% AH. (Q3 results, PR)
- Ruckus (RKUS) expects Q4 revenue of $70M-$73M and EPS of $0.04-$0.05 vs. a consensus of $72.7M and $0.05. Shares -1.8% AH. (Q3 results, PR)
- ROVI expects 2013 revenue of $585M-$615M and EPS of $1.70-$2.00, largely below a consensus of $613.6M and $1.95. Shares -7.8% AH. (Q3 results, PR)
Oct. 30, 2013, 4:22 PM
Sep. 24, 2013, 10:11 AM
- Red Hat (RHT -12.3%) has been cut to neutral ratings by Piper and Pac Crest in the wake of its disappointing FQ2 billings data and mixed guidance.
- Storage giants EMC (EMC -1.7%) and NetApp (NTAP -1.2%) have been cut to Equal Weight by Barclays.
- F5 (FFIV -2.4%) has been cut to Neutral by Goldman.
- Rovi (ROVI +2.5%) has been upgraded to Buy by B. Riley.
- Microchip (MCHP +0.7%) has been upgraded to Buy by Goldman.
Aug. 12, 2013, 2:35 PM
- OpenTable (OPEN +3.9%) and Rovi (ROVI +1.4%) have spiked higher after Facebook (FB -0.5%) announces companies will be able to take OpenTable reservations and display Rovi TV listings data on their Facebook pages.
- OpenTable has integration deals with 600+ sites/services. They currently account for 5%-10% of the company's monthly booked restaurant seats.
- Facebook has made several moves in recent months (I, II) to improve the quality of the local content/services provided by its mobile site and apps. Yelp (YELP -1.2%) has sold off more than once thanks to those moves, but the company is still differentiated from Facebook (and other rivals) via the breadth of its local reviews database.
- OpenTable's Facebook deal comes at a time when the company is seeing fresh competition from Yelp (remains a partner for now) and Groupon. It also comes shortly after OpenTable began testing a payments system for its restaurant bookings.
Jul. 31, 2013, 6:00 PM
- ROVI has reached deals to sell its struggling Entertainment Store (private-label digital content sales) and Consumer Website businesses. The former has been on the block since January.
- Rovi now expects 2013 revenue of $600M-$630M and EPS of $1.80-$2.10, below a prior forecast of $630M-$660M, and largely below consensus of $645.4M and $2.09.
- The Consumer Website sale has a $7M-$9M impact on revenue guidance. For the rest, Rovi blames "uncertainties with respect to the timing of closing several new [licensing] agreements" with international and over-the-top (i.e. Internet video) companies. Rovi remains mired in a legal battle with Netflix and Roku.
- Revenue -5% Y/Y in Q2. Service provider revenue +10% to $83.7M, but consumer electronics businesses -27% $47.3M.
- $65M was spent on buybacks in Q2.
- Q2 results, PR
Jul. 31, 2013, 5:30 PM
Jul. 31, 2013, 4:36 PM
Jun. 24, 2013, 12:00 PM
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