RealTime IT News

TiVo Soars as Ciena, Palm Fall

TiVo (NASDAQ: TIVO) investors had a lot to smile about on Thursday, but shares of Palm (NASDAQ: PALM) and Ciena (NASDAQ: CIEN) struggled.

TiVo's stock soared 62 percent to $16.53 after the company prevailed once again in a long-running digital video recorder patent dispute with Dish Network (NASDAQ: DISH), which said it would appeal the latest ruling.

Ciena, meanwhile, fell 4 percent after the company reported a loss and missed Wall Street sales estimates.

Palm lost 5 percent after Standard & Poors cut its credit rating outlook on the smartphone maker to "negative" following the company's sharply reduced sales outlook last week.

DivX (NASDAQ: DIVX) was a big winner on a better than expected profit, up 18 percent.

Comtech (NASDAQ: CMTL) shed 9 percent after the company lowered its outlook.

The broader market gained about a half percent ahead of Friday's monthly government jobs report, which is expected to show a loss of 60,000 or more jobs for February because of massive snowstorms. ADP said earlier this week that job growth could return this month.

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