Updated from 1:48 p.m. EST with new stock prices
Tech stocks traded mostly flat as major indices treaded water ahead of
Chairman Ben Bernanke's speech Thursday evening and a lowered economic forecast from the White House for 2008.
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 JP Morgan, 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
. Shares of TiVo were up $1.48 to $7.46.
Virtualization software specialist
extended its gains after a Merrill Lynch analyst upgraded the stock to buy from neutral. VMWare could end up as the market leader since its functionality and "partner ecosystem" is at least two years ahead of its rivals, Merrill said. The stock also received a positive mention from Citigroup. Shares of VMWare were up $3.16, or 3.6%, to $90.85.
, which has an 86% stake in VMWare, was up 35 cents, or 1.8%, to $19.46.
rose 1.6% ahead of its third-quarter results Thursday. The stock was up 45 cents to $28.14. Analysts are expecting earnings of 35 cents a share on revenue of $15.34 billion in the quarter. For the fourth quarter, Dell is expected to report earnings of 38 cents a share on revenue of $15.96 billion.
gained 2.6% after a Piper Jaffray analyst raised the rating on the stock to buy from neutral. IAC's recently announced plans to break up its business into five companies is positive and should help IAC get better valuation, said the analyst. Shares were up 72 cents to $28.25.
gained 1.7% after the company announced a partnership with
to insert ads into PDF files. Adobe was up 72 cents to $42.75, while Yahoo! gained 43 cents, or 1.6%, to $26.63.
Chinese gaming company
( 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.
pulled back $1.87, or 1.7%, to $106.08 after a big bull run stemming from reports of strong demand for personal navigation devices in early holiday shopping and the company's decision to pull out of an expensive bidding war with rival
over Dutch mapping supplier