Updated from 7:42 a.m. EST
soared Tuesday morning after
agreed to make its digital recording service available to its cable subscribers. The nonexclusive contract is a huge victory for TiVo, whose preeminence in television recording has been threatened by the creeping acceptance of other digital video recorders among cable companies like
. TiVo soared $1.88, or 49%, to $5.71.
said its Avastin drug in combination with chemo outperformed chemo alone in a phase 3 trial measuring life extension in non-small cell lung cancer patients. The drug has already been a blockbuster for Genentech after receiving FDA clearance in early 2004 for colon cancer. Genentech's news hit before the closing bell Monday afternoon and lifted the stock 25% to $55.
Protein Design Labs
said its fourth-quarter loss narrowed to $14.6 million, or 15 cents a share, from $72.9 million, or 78 cents a share, last year. Revenue rose 68% from a year ago to $22.8 million. Analysts had been forecasting a loss of 14 cents a share on sales of $21.6 million in the latest quarter. Looking ahead, the company expects a loss of 18 cents to 34 cents a share in 2005, excluding items. Analysts had been expecting a loss of 34 cents a share.
said its fourth-quarter profit more than quadrupled from a year ago to $21 million, or 10 cents a share, beating estimates by a penny. Revenue rose 28% from a year ago to $249.1 million, about $3 million above estimates. The company said all three of its divisions saw higher profitability and revenue in the fourth quarter compared with a year ago.
Electronic manufacturing services company
swung to a loss in its fourth quarter on a 1% decline in sales compared with a year ago. The company lost $9.1 million, or 36 cents a share, in the quarter, compared with a gain-driven profit of $202.6 million in the year-ago quarter. Adjusted for items, DDi lost 6 cents a share in the latest quarter. On that basis, the one analyst polled by Thomson First Call had been expecting a loss of 5 cents a share on sales of $70 million. The company expects to post sales of $43 million to $45 million in the first quarter. The analyst was forecasting $71 million.
said fourth-quarter earnings jumped despite slightly weaker-than-expected sales. For its fourth quarter ended Jan. 31, the Mount Laurel, N.J., maker of telecom signaling software posted a profit of $4.9 million, or 11 cents a share. That's up from the year-ago $1.2 million, or 3 cents a share, and in line with the Wall Street analyst consensus estimate. Revenue rose 69% from a year ago to $17.1 million, just shy of the $17.4 million Thomson First Call consensus estimate.