TiVo ( TIVO) soared 24.8%, a day after the digital video recorders maker reported narrower-than-expected loss in the third quarter and guided in line with analysts' expectations for the current quarter. TiVo lost $8.2 million, or 8 cents a share, in the quarter compared with a loss of $11.1 million, or 12 cents a share a year ago. Analysts were expecting a loss of 13 cents a share. Revenue rose to $58.3 million, higher than Street expectations of $56.7 million. TiVo also received an upgrade Thursday from JPMorgan, which now rates the stock overweight from underweight. TiVo also said Thursday it has won a decision in its favor from the U.S. Patent and Trademark Office in a dispute against EchoStar ( DISH). Shares of TiVo were up $1.48 to $7.46. Also on the rise was Regeneron ( REGN), shares of which garnered $4.86, or 28.3%, to $21.80 on news that it
strengthened its ties with Sanofi-Aventis ( SNY). Sanofi now holds a 19% stake in the company, up from a prior 4% stake. The team's new collaboration will use Regeneron technology to discover and develop fully humanized antibody drugs. Chinese gaming company Shanda Interactive ( SNDA) gave up some of the gains from its third-quarter earnings report on Tuesday. Shanda had announced earnings of 44 cents a share on revenue of $87.4 million, compared to analysts' expectations of 43 cents a share on revenue of $82 million. The stock fell $2.11, or 5.4%, to $36.89 Thursday.
Charlotte, N.C.-based Cato ( CTR) reported fiscal third-quarter income that was cut in half year over year to $2.9 million, or 9 cents a share, but beat analyst estimates by a penny a share. Same-store sales, or sales from stores open a year or more, were down 5% from 2006, and the gross margin rate decreased to 31% from 32% last year. Shares of the women's wear retailer plummeted 25% to $14.70. On the winning side, online jewelry auctioneer Bidz.com ( BIDZ) rebounded from yesterday's large loss, as shares gained 15% to $11.62. The Culver City, Calif., company announced it had begun investigating wrongdoing by Citron Research editor Andrew Left, who had on Monday issued a report that alleged misconduct by Bidz and sent shares spiraling. Bidz additionally expressed concern that recent selling of its stock may have violated federal security laws, and the company will report trading activity to the Securities and Exchange Commission. MGI Pharma ( MOGN) said in a statement Thursday that management has hired Lehman Brothers to help it evaluate strategic alternatives. Amgen ( AMGN) and Bristol-Meyers Squibb ( BMY) have been among the rumored prospective buyers of the company, whose products include blood-disorder drug Dacogen and chemotherapy-induced nausea preventive Aloxi. MGI, in a statement, declined to comment on rumors. Shares added $5.35, or 18.1%, to $34.90.