NEW YORK, April 30 Billionaire investor Carl
Icahn increased his stake in speech recognition and digital
imaging software maker Nuance Communications Inc from
9.27 percent to 10.72 percent, a filing with the Securities and
Exchange Commission showed on Tuesday.
Icahn, who is known for taking large "activist" positions in
companies and pushing for management change, upped his passive
stake in the company after its stock price plunged over 18
percent on Tuesday following weaker-than-expected quarterly
earnings and profit forecasts.
Nuance reported a net loss of $25.8 million, or 8 cents per
share for the second quarter, compared with a profit of $890,000
a year earlier.
The company also forecast a third-quarter profit of 30 cents
to 34 cents per share, excluding items, which was well below
analysts' estimates of 49 cents per share, according to Thomson
Apple Inc. uses Nuance's speech recognition technology in
its iPhone devices as part of its "Siri" voice recognition
Icahn was not immediately available for comment.