The stock price of Nuance Communications Inc. (NASDAQ:NUAN) is up by 6 percent today after activist investor, Carl Icahn revealed a 9.3 percent passive stake in the company.
Nuance Communications Inc. (NASDAQ:NUAN) develops speech-recognition and digital imaging software. The company’s speech recognition technology is used by Apple Inc. (NASDAQ:AAPL)’s in the iPhone devices for the Siri voice feature.
Tom Roderick, analyst at Stifel Nicolaus & Co believed that Carl Icahn might push to split the company. According to him, the stock value of Nuance Communications Inc. (NASDAQ:NUAN) declined significantly after lowering its earnings and sales expectations due to changing demand for software.
Login required to continue reading.
Setup a free account to get access to this article (no credit card required).
View Full Article
