Bloomberg the Company

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Follow Us

Industry Products

Markets & Finance

Citigroup Downgrades TiVo


Citigroup downgrades DVR-service company TiVo (TIVO) to sell from hold.

Yesterday TiVo said Marty Yudkovitz resigned as president, effective Jan. 31. Analyst Tony Wible says this resignation is a surprise and could lead to deteriorating employee morale and business disruption given the uncertainty surrounding top management.

As such, he cuts his "TiVo owned" net subscriber count additions estimates for fiscal 2006 (ending January) to 412,000 from 452,000 and for fiscal 2007 to 430,000 from 470,000.

He now expects the company to post a 37-cent loss for fiscal 2006 and a 17-cent loss for fiscal 2007. He notes his new assumptions also drive down cash flow projections. He reduces his $5.40 target to $3.50.


LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus