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On second thought…TiVo withdraws profit forecast, stocks fall

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On second thought...TiVo withdraws profit forecast, stocks fall

TiVo Inc. stock fell Thursday after the company withdrew its earlier forecast of a profit in the fourth quarter. Shares of the maker of television recorders fell 94 cents, or 15 percent, to close at $5.18 on the Nasdaq Stock Market.

The Alviso, Calif., company posted a small second-quarter profit after the bell Wednesday, but said it would be going back into the red as it ramps up spending on marketing in order to add subscribers independently, without help from partnering cable and satellite TV companies.

Read the complete story(San Jose Mercury News)