Top Tech Stocks News IGT, JDSU, ROVI

Top Tech Stocks

Dallas, TX 11/06/2009 06:08 PM GMT (TransWorldNews)

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International Game Technology (NYSE:IGT) zoomed 9.91% to $20.40 on a massive volume of 2.29 million shares after it posted a fiscal fourth-quarter loss, but said it thinks demand for its slot machines and casino management systems has stabilized. The company posted a loss of $21.3 million, or 7 cents per share, compared with a profit of $52.1 million, or 18 cents per share, in the same quarter last year. Revenue slipped to $514.6 million, from $632.2 million a year ago. Analysts surveyed by Thomson Reuters, who usually exclude one-time items from their estimates, predicted earnings of 17 cents per share on revenue of $497.9 million. For the full fiscal year, profit fell to $149 million, or 51 cents per share, from $342.5 million, or $1.10 per share, in fiscal 2008.

JDS Uniphase Corporation (NASDAQ:JDSU) surged 5.93% to $6.43 with a huge volume of 1.46 million shares after it announced that Sumitomo Electric has awarded the company its Global Contribution Award. Only two suppliers out of fifty received the award at a recent ceremony. JDSU will serve as the prime supplier of VCSEL, TOSA and ROSA products to Sumitomo Electric that are used for datacom, LAN switching and storage applications. Sumitomo Electric selected JDSU based on the technical performance of its products, its ability to scale capacity for products based on demand, and assurance of JDSU's ongoing ability to meet its future needs.

Rovi Corp (NASDAQ:ROVI) rallied 6.81% to $30.12 on a high volume of 745k shares. Rovi Corporation, formerly known as Macrovision Solutions Corporation, announced today, on a GAAP basis, third quarter 2009 revenues of $115.3 million, compared to $108.5 million for the third quarter of 2008. Third quarter 2009 GAAP net loss was $11.9 million compared to net income of $7.5 million for the third quarter of 2008. GAAP diluted net loss per common share for the quarter was $0.12 compared to earnings per share of $0.07 for the third quarter of 2008.

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