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TiVo Stock Soars On Initial Comcast Lawsuit Ruling
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Shares of TiVo popped 10% in morning trading Tuesday on news that it earned an early favorable ruling in a patent lawsuit against Comcast (CMCSA - Free Report) . Now, the struggling digital television recording company, which once helped change the industry forever, might be positioned for further positive gains.
The U.S. International Trade Commission made a preliminary ruling on Friday that Comcast violated two TiVo patents. An initial determination was made that Comcast crossed the line regarding Section337—Understanding Investigations Of Intellectual Property Infringement And Other Unfair Practices In Import Trade.
Fellow communications companies ARRIS International plc and Technicolor SA were also implicated in the patent lawsuit.
Cowen analyst Robert Stone wrote in a note to clients that TiVo is undervalued and that the recent U.S. ITC ruling might mean Comcast will settle the patent infringement lawsuit instead of gearing up for a long legal battle.
Piper Jaffray analysts noted that the ruling could prompt the cable giant to renew its business with TiVo. Piper's Michael Olson set an updated TiVo price target of $25.
TiVo’s stock sat as low as $16 per share just over a week ago; it’s up to $18 through morning trading.
TiVo’s Tuesday gains come days after its president and CEO Thomas Carson informed the board that he plans to retire from the position. This change at the top, as well as the patent case, have helped TiVo earn a Zacks Rank #1 (Strong Buy) and a B grade for Momentum in our Style Score system.
Nevertheless, investors should note that, on top of today’s positive movement, Hulu sued Tivo last week claiming that the streaming service doesn’t need to renew an expired licensing agreement with TiVo.
More Stock News: 8 Companies Verge on Apple-Like Run
Did you miss Apple's 9X stock explosion after they launched their iPhone in 2007? Now 2017 looks to be a pivotal year to get in on another emerging technology expected to rock the market. Demand could soar from almost nothing to $42 billion by 2025. Reports suggest it could save 10 million lives per decade, which could in turn save $200 billion in U.S. healthcare costs.
A bonus Zacks Special Report names this breakthrough and the 8 best stocks to exploit it. Like Apple in 2007, these companies are already strong and coiling for potential mega-gains. Click to see them right now >>
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TiVo Stock Soars On Initial Comcast Lawsuit Ruling
Shares of TiVo popped 10% in morning trading Tuesday on news that it earned an early favorable ruling in a patent lawsuit against Comcast (CMCSA - Free Report) . Now, the struggling digital television recording company, which once helped change the industry forever, might be positioned for further positive gains.
The U.S. International Trade Commission made a preliminary ruling on Friday that Comcast violated two TiVo patents. An initial determination was made that Comcast crossed the line regarding Section337—Understanding Investigations Of Intellectual Property Infringement And Other Unfair Practices In Import Trade.
Fellow communications companies ARRIS International plc and Technicolor SA were also implicated in the patent lawsuit.
Cowen analyst Robert Stone wrote in a note to clients that TiVo is undervalued and that the recent U.S. ITC ruling might mean Comcast will settle the patent infringement lawsuit instead of gearing up for a long legal battle.
Piper Jaffray analysts noted that the ruling could prompt the cable giant to renew its business with TiVo. Piper's Michael Olson set an updated TiVo price target of $25.
TiVo’s stock sat as low as $16 per share just over a week ago; it’s up to $18 through morning trading.
TiVo’s Tuesday gains come days after its president and CEO Thomas Carson informed the board that he plans to retire from the position. This change at the top, as well as the patent case, have helped TiVo earn a Zacks Rank #1 (Strong Buy) and a B grade for Momentum in our Style Score system.
Nevertheless, investors should note that, on top of today’s positive movement, Hulu sued Tivo last week claiming that the streaming service doesn’t need to renew an expired licensing agreement with TiVo.
More Stock News: 8 Companies Verge on Apple-Like Run
Did you miss Apple's 9X stock explosion after they launched their iPhone in 2007? Now 2017 looks to be a pivotal year to get in on another emerging technology expected to rock the market. Demand could soar from almost nothing to $42 billion by 2025. Reports suggest it could save 10 million lives per decade, which could in turn save $200 billion in U.S. healthcare costs.
A bonus Zacks Special Report names this breakthrough and the 8 best stocks to exploit it. Like Apple in 2007, these companies are already strong and coiling for potential mega-gains. Click to see them right now >>