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TiVo (TIVO) falls on court decision

http://investor.tivo.com/phoenix.zhtml?c=106292&p=irol-irHomeTiVo (NASDAQ: TIVO - option chain) stock is falling today after the U.S. Court of Appeals granted the request of EchoStar (NASDAQ: SATS) to stay the contempt order imposed by the U.S. District Court pending the outcome of SATS's appeal. TIVO says it is confident that it will win the appeal.. If you think this stock won't be rising too far in the coming months, then it could be a good time to look at a bearish hedged play on TIVO.

This morning, TIVO opened at $9.13. So far today the stock has hit a low of $9.05 and a high of $9.79. As of 11:45, TIVO is trading at $9.22, down $1.55 (-14.4%). The chart for TIVO looks neutral and S&P gives TIVO a neutral 3 STARS (out of 5) hold ranking.

Continue reading TiVo (TIVO) falls on court decision

Sirius XM (SIRI) received and rejected a takeover bid

With its stock trading at less than 13 cents, you might think the debt-crippled Sirius XM Radio Inc. (NASDAQ: SIRI) would accept any takeover bid that would mean it could avoid bankruptcy.

Apparently, you'd be wrong. The Wall Street Journal reports (subscription required) that satellite mogul Charles Ergen made an unsolicited takeover bid late last year, but was rebuffed by the company and its board of directors. Ergen had reportedly proposed that one of his companies -- either Echostar Corp. (NASDAQ: SATS) or Dish Network Corp. (NASADAQ: DISH) -- provide the company with enough cash for it to avoid a bankruptcy filing.

Continue reading Sirius XM (SIRI) received and rejected a takeover bid

Newspaper wrap-up: Sprint may reverse course and cast off Nextel

MAJOR PAPERS:
  • Three years into its $35B takeover of Nextel, the Wall Street Journal reported that Sprint Nextel Corporation (NYSE: S) is considering selling or spinning off the troubled unit. Few details were available and a deal is not imminent.
  • The Wall Street Journal also reported that pressure is mounting on Citigroup Incorporated's (NYSE: C) CEO Vikram Pandit to show that he can turn around the troubled bank. Executives believe Pandit, who has been praised for his cautious and deliberate approach, has been taking "too long" to make crucial decisions.
WEB SITES:
  • According to a person close to Google Inc (NASDAQ: GOOG), Reuters reported that Google and Yahoo! Inc (NASDAQ: YHOO) are still "hammering out the intricacies" of a potential advertising and search deal. The source said no final agreement has been reached yet.
  • ABC News learned that if Rupert Murdoch does not testify in a lawsuit accusing one of his companies of "corporate espionage," it may cost News Corporation (NYSE: NWS) hundreds of millions of dollars, a federal judge overseeing the trial said. News Corp has denied any wrongdoing, and lawyers maintain Murdoch had no direct knowledge of the unit's alleged hacking into EchoStar Corporation's (NASDAQ: SATS)/DISH Network Corporation's (NASDAQ: DISH) security code and posting it on the Internet.

Symbol Lookup
IndexesChangePrice
DJIA+44.2910,291.26
NASDAQ+15.822,166.90
S&P 500+5.501,098.51

Last updated: November 12, 2009: 05:08 AM

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