Rovi Corporation (ROVI) saw a big move last session, as the company’s shares fell by over 5% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This stock, trading at a volatile range of $22.22–$24.42 in the past one-month time frame, showed a sharp decline yesterday at $22.94.
This slump shouldn’t be too much of a surprise to investors, as Rovi has seen 1 negative revision in the past few weeks and its current year earnings consensus has moved lower over the last 30 days. This suggests there may be more trouble down the road. So make sure to keep an eye on this stock going forward to see if this recent slump will continue, as the earnings picture definitely suggests that this might be the case.
ROVI currently has a Zacks Rank #4 (Sell).
Investors interested in the Internet services industry may consider better-ranked stock LivePerson Inc. (LPSN), which carries a Zacks Rank #1 (Strong Buy).
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