More Early Stocks in Motion
TiVo (TIVO) caught a bid Tuesday after brokerage First Albany initiated the digital-recorder company at a strong buy. TiVo shares were last up 63 cents, or 11%, to $6.23. First Albany advised clients to buy the stock in the wake of a recent contract with Comcast (CMCSA), saying TiVo is potentially the best horse in the DVR race. The brokerage said the company's current results look worse than they are because of its efforts to grow its hardware base.
Linktone's (LTON) first-quarter profit rose to $3.2 million, or 12 cents an American depository share, from $2.8 million, or 11 cents an ADS, a year ago. Revenue for the quarter was $15.1 million. For the second quarter, the company expects to earn 13 cents an ADS on revenue of $16 million. It expects pro forma earnings of 15 cents an ADS. The stock was up 72 cents, or 9.5%, to $8.30 in after-hours trading.
VCA Antech (WOOF) announced it will acquire animal hospital operator Pet's Choice for $60 million in cash. Once the deal is completed, the combined companies will operate 365 animal hospitals in 37 states. The stock was up 60 cents, or 2.46%, to $25 in after-hours trading.
Ryder System (R) announced it was awarded a multi-year contract to manage nine warehouse locations, including the distribution and outbound transportation network to more than 11,000 customers, for the Parksite Group. The stock was unchanged at $37.39.Nanogen (NGEN) rose Tuesday after receiving a pair of patents related to molecular diagnostics. The addition of U.S. Patent 6,891,154, "Amino Acid Sequence Pattern Matching," and 6,893,822, "Enzymatic Modification of a Nucleic Acid-Synthetic Binding Unit Conjugate" brings the company's U.S. patent portfolio of 128. Shares added 32 cents, or 8.6%, to $4.04.
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