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Shares of XM Satellite Radio Fall 10% as Quarterly Loss Widens

Authored by Mark Hefflinger on October 27, 2005 - 4:36am.
Washington - Shares of DC-based XM Satellite Radio, the country's largest provider of satellite radio services, dropped more than 10% on Thursday after the company posted a wider loss for the third quarter, despite strong increases in both revenue and subscriber growth. Hurt by significantly higher operating expenses and marketing costs, XM reported a loss of $131.9 million, up from $120.1 million a year ago. Revenue more than doubled to $153.1 million, and subscribers also doubled to just over 5 million. The company expects to add another million subscribers by year's end.
tags: XM Satellite Radio | Shares | Quarterly Loss |

iPod Chipmaker PortalPlayer to Sell 4.5 Million Additional Shares

Authored by Mark Hefflinger on October 24, 2005 - 7:35am.
San Jose, Calif. - PortalPlayer, a maker of system-on-chips, firmware and software for manufacturers of hard disk drive and flash memory-based personal media players, said on Monday that it plans to sell 4.5 million shares in an upcoming public offering. The company's stock closed up more than 8% to $27.86 on Monday. San Jose, Calif.-based PortalPlayer provides chips used in both Apple's iPod Nano and new video iPod.
tags: PortalPlayer | Sell | Shares | iPod Chipmaker |

Shares of TiVo Plunge on Report of DirecTV Pull-Out

Authored by Mark Hefflinger on August 11, 2005 - 10:14am.
Alviso, Calif. -- Shares of TiVo closed down 6% on Thursday following a report that satellite television operator DirecTV, its largest customer, plans to stop marketing the company's digital video recorders later this year. Chase Carey, the CEO of DirecTV, told Reuters that his company -- which accounts for roughly two-thirds of TiVo's subscriber base -- plans to instead begin offering technology developed by News Corp., which holds a 34% stake in the company. Analysts believe that the move could be a big blow to TiVo, whose DVRs allow subscribers to record programs onto a hard disc, and pause and rewind live TV.
tags: TiVo | Shares | DirecTV Pull-Out |

Shares of Apple Soar Following Record Quarter

Authored by Mark Hefflinger on July 14, 2005 - 10:07am.
Cupertino, Calif. -- Shares of Apple surged nearly 6% on Thursday after the company reported a 75% increase in revenue and its highest quarterly profit ever, thanks in large part to continued brisk sales of its iPod digital music players. The company reported net income of $320 million up from $61 million a year ago, on revenue of $3.5 billion, up from $2.0 billion. Both the company's profit and revenue topped analysts expectations, according to a survey by Thomson First Call, with earnings eclipsing estimates by $0.06 a share. For the quarter, which ended June 25, Apple said that it shipped 1.2 million Macintosh computers (up 35%) and 6.2 million iPods (up more than 600%).
tags: Apple | Shares | Soar | Record Quarter |

Shares of CNET Soar on Rumors of Possible Sale

Authored by Mark Hefflinger on July 6, 2005 - 4:51am.
San Francisco -- Shares of San Francisco-based CNET Networks closed up more than 10% last Thursday following reports that the technology-focused media company is shopping for a buyer. The New York Post reported that CNET has "had discussions" with Viacom and Barry Diller's InterActiveCorp, among others, and that investment banks are vying for the deal. AOL and Sunnyvale-based Yahoo are also rumored to be considering making a bid. "What makes CNET attractive is its huge amount of traffic," one source familiar with the matter told the Post. "These media companies think they can turn it into the next Google or Ask Jeeves." According to the sources, no deal is imminent.
tags: CNET | Sale | Rumors | Shares |

Shares of Google Surge as Lock-Up Period Ends

Authored by Mark Hefflinger on February 15, 2005 - 9:19am.
Mountain View, Calif. -- Shares of Google rose 3% on Monday, as the lock-up period on shares of the search engine giant expired, six months after its initial public offering (IPO). About 177 million of the company's shares were released to the market, as insiders took advantage of their chance to sell the stock they obtained for $85 in August. The stock closed on Monday at $192.99, with volume nearly four times as high as usual. The company also released about 39 million shares in November.
tags: Google | Shares | Lock-Up |

iPod Chipmaker PortalPlayer Raises $106 Million in IPO; Shares Climb 52%

Authored by Mark Hefflinger on November 19, 2004 - 4:51am.
Santa Clara, Calif. -- PortalPlayer, a maker of chips used in Apple's iPod, saw its shares climb 51.8% to $25.80 as it raised over $106 million in its initial public offering on Friday. The Santa Clara, Calif.-based company originally filed to sell its shares for between $11 and $13, but raised its expectations to $14 to $16 per share on Wednesday. The majority of PortalPlayer's revenue is tied to the success of Apple's iPod, for which it is the sole provider of MP3 decoder chips. The company plans to use proceeds from the offering to repay debt and for general purposes, including working capital.
tags: VC | IPO | iPod | PortalPlayer | Shares |

Infinium Seeks Delisting of Unauthorized Shares from German Exchanges

Authored by Mark Hefflinger on August 18, 2004 - 2:24am.
Sarasota, Fla. -- Infinium Labs, developer of a PC-based broadband gaming console, announced on Wednesday that it has requested that its shares be delisted from the Frankfurt and Berlin Stock Exchanges, as the company did not authorize any shares to be traded in Germany. Recent media reports have indicated that a number of U.S. companies have been listed on German exchanges without permission, by brokers seeking to circumvent U.S. restrictions on short selling. "Our legal counsel also is notifying the Berlin Stock Exchange that our stock has been listed on the Berlin Exchange without the company's knowledge, consent or authorization. We are requesting that our shares be delisted from the Berlin Exchange and the names of the listing brokers be delivered to Infinium Labs," said Infinium CEO Timothy Roberts. Florida-based Infinium Labs is set to release its Phantom gaming console in November.
tags: Infinium | German | Shares | Unauthorizes | Exchanges |

DVD Software Maker InterVideo to Repurchase $10 Million in Shares

Authored by Mark Hefflinger on May 10, 2004 - 2:24am.
Fremont, Calif. -- InterVideo, a developer of DVD creation and editing software, announced on Monday that its board of directors has approved a $10 million stock repurchase program, which many companies do when they believe their shares are currently being undervalued on the market. Fremont, Calif.-based InterVideo recently reported $71 million in cash and short term investments, and 13.5 million shares of common stock outstanding.
tags: DVD | Software | Shares | InterVideo | Repurchase |

Game Developer Bam Entertainment to Sell $2.3 Million in Shares

Authored by Mark Hefflinger on January 30, 2004 - 2:06am.
San Jose, Calif. -- Video game publisher Bam Entertainment said on Friday that it plans to raise $2.3 million through a private offering of its shares to institutional investors. The company will sell 2,532,522 shares and warrants to purchase another 1,519,513 shares at a share price of $0.92. In December, the company also raised $1.5 million in new financing. San Jose, Calif.-based Bam develops games for all console platforms and the PC, and has created games based on properties licensed from Cartoon Network, including "The Powerpuff Girls" and "Dexter's Laboratory."
tags: Games | Shares | Bam Entertainment |

XM Satellite Radio to Sell 20 Million Shares

Authored by Mark Hefflinger on January 23, 2004 - 2:41am.
Washington -- XM Satellite Radio, a provider of satellite-delivered digital radio programming, said on Friday that it and certain of its shareholders will raise a total of $520 million through an offering of 20 million shares. The company, which is selling 7 million of the shares, with the remainder being sold by current stockholders, said that it will sell the shares for $26.50 each. In addition, one of the selling shareholders has granted the underwriters an option to purchase up to 3 million additional shares. The offering is expected to close on Jan. 28. Washington-based XM had more than 1.36 million subscribers at year's end.
tags: Satellite Radio | XM | Shares |

Satellite Radio Firm XM to Sell 18 Million Shares in Public Offering

Authored by Mark Hefflinger on January 14, 2004 - 3:27am.
Washington, D.C. -- Shares of XM Satellite Radio fell nearly 3% by late Wednesday after the operator of the front-running satellite radio service announced plans to sell 18 million shares in an upcoming public offering. The company, itself, will be offering 7 million of the shares, with current stockholders selling the remainder. XM, which had more than 1.36 million subscribers at year's end, did not disclose a price or date for the offering.
tags: Satellite Radio | XM | Shares | Public Offering |

Netflix Ups 2003 Subscriber Projections; Shares Jump 13%

Authored by Mark Hefflinger on December 18, 2003 - 4:44am.
Los Gatos, Calif. -- Online DVD rental service Netflix on Wednesday raised its guidance for the number of subscribers it expects to count by the end of the year from between 1,425,000 to 1,475,000, to between 1,470,000 and 1,495,000. The company now also expects revenue of $80 million to $82 million, up from its earlier projection of from $77 million to $81 million. Shares of Los Gatos, Calif.-based Neflix leapt nearly 13% Wednesday on the news.
tags: Netflix | Subscriber | Shares |

Shares of Interactive TV Firm OpenTV Fall with Loss of DirecTV Partnership

Authored by Mark Hefflinger on November 13, 2003 - 7:40am.
San Francisco -- OpenTV, a provider of interactive TV services, announced on Thursday that satellite TV operator DirecTV has opted not to renew its agreement to carry OpenTV's Wink interactive ad service. The news saw shares in Mountain View, Calif.-based OpenTV, which is controlled by Liberty Media, fall nearly 11%. OpenTV said revenue from Wink-enabled set top boxes deployed in DirecTV's network accounted for 2% of its overall revenue for the last nine months. "We were not prepared to renew our DirecTV agreement on terms that were neither economically viable nor in the long-term best interests of our company," said OpenTV CEO James Ackerman. The company will deactivate approximately 10.4 million of its Wink-enabled set top boxes on Dec. 22, when the current agreement with DirecTV expires.
tags: DirecTV | OpenTV | partnership | Interactive TV | Shares |

Shares of TiVo Plunge on Concerns Over DirecTV Relationship

Authored by Mark Hefflinger on September 26, 2003 - 10:26am.
Alviso, Calif. -- Shares of TiVo, a provider of television services for digital video recorders, fell nearly 17% on Thursday amid rumors that DirecTV plans to drop the company's service if acquired by News Corp. In a note published on Thursday morning, Pacific Crest Securities analyst Jeff Goverman called News Corp.'s commitment to TiVo "questionable," and pointed out that News Corp.'s BSkyB European satellite service once partnered with TiVo before becoming a competitor. TiVo, however, said that it had a close relationship with DirecTV and expects the relationship to continue. Nearly half of TiVo's 800,000 subscribers come through DirecTV.
tags: TiVo | DirecTV | Shares | Plunges |

Shares of Spoken Word Audio Firm Audible Move to OTC Bulletin Board

Authored by Mark Hefflinger on February 18, 2003 - 2:57am.
Wayne, N.J. -- Audible, Inc., a provider of downloadable spoken word audio content for PCs and portable devices, announced on Tuesday that its shares will move from the Nasdaq SmallCap Market to the Over-the-Counter Bulletin Board. The company said the move is a result of the Nasdaq's new listing requirement test based on shareholder equity accounting, which Audible believes is unfair. "We attempted to point out to Nasdaq the illogic of a listing test that penalizes innovation and economic efficiency born of new technology distribution platforms," said Audible CEO Donald Katz, "but we were ultimately asked to meet financial structure requirements by the Nasdaq listing committee that would have been gratuitously dilutive to our shareholders."
tags: Audible | Shares | Word Audio | OTC | Bulletin Board |