Wednesday's Tech Winners & Losers
TiVo said a federal appeals court granted an EchoStar request to stay an injunction against the sale of the satellite broadcaster's video-recording devices. In August, a federal judge issued the injunction against EchoStar, halting the sale of certain digital video recorders. TiVo shares recently were down 89 cents to $6.63; EchoStar shares were down a penny at $32.06.
Shares of Silicon Motion Technology (SIMO) rose 6% after the developer of chip components said it set a record for flash controller shipments in September. The company shipped more than 22 million controllers during the month of September, up from 12 million during last year's September period.
"As we have indicated previously, we are seeing strong demand for small form factor flash memory cards that are used in mobile phones," the company said. In early September, Silicon Motion boosted its third-quarter revenue projection, saying that it was benefiting from continued strength in flash memory cards that are used in cellular phones. Shares were adding 97 cents to $17.41.CDC (CHINA) shares advanced 5% after the company said it expects to post strong third-quarter software sales. The company said its CDC Software unit expects to report software license revenue of $10.9 million to $11.5 million, which would represent an increase of about 27% over year-ago results. "Our preliminary estimates indicate that our software sales were very strong during the quarter, in spite of the typical doldrums during the late summer," the company said. Shares were trading up 27 cents to $5.77.
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