SAN FRANCISCO -- Investors and analysts were so unsettled by Macrovision's(MVSN Quote) announced merger with Gemstar-TV Guide(GMST Quote) that one sell-side analyst pulled his rating on Macrovision late Friday, while others noted the risks of the deal.
Noting that Macrovision had already announced two small acquisitions within a month of the deal, William Blair analyst Ralph Schackart called it a "bet-the-company transaction" when announcing his decision to suspend the rating.
He put integration risks at the top of his list of concerns for Macrovision, a developer of software that is sold to movie studios and video device manufacturers to protect movies against piracy. Macrovision is an investment-banking client of William Blair.
Macrovision, which fell 21.4% on Friday, declined another 4.45%, or 91 cents, to $19.53 in early trading on Monday. Meanwhile, Gemstar, which slipped 16.6% on Friday, declined another 6.81%, or 34 cents, to $4.65 in early trading on Monday ...
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