Tivo Merger Talk With Rovi Boost Shares

Tivo Inc. TIVO shares are trading higher by $1.59 at $9.25 in Thursday's session. The issue is being buoyed by rumors that the company may be acquired by Rovi Corporation ROVI.

After a higher open, it retreated but found support well ahead of the top of Wednesday's range ($7.92), only reaching $8.67 before resuming its move higher. So far, it has reached $9.41 and is not far off that level.

If the rally continues, there may be additional resistance at its November 27 high ($9.74).