Wednesday, April 20, 2011

TiVo (TIVO) Rockets Up on Court Ruling Concerning (DISH)

Shares of TiVo (NASDAQ:TIVO) are soaring while those of Dish Network (NASDAQ:DISH) are under pressure after a ruling from the U.S. Court of Appeals for the Federal Circuit in Washington that Dish was in contempt of a court order issued in 2010.

The court ruled that the continual running of the DVR service Dish provides to its subscribers violates the order.

TiVo said the ruling, “paves the way for TiVo to receive substantial damages and contempt sanctions regarding the DVRs that EchoStar and Dish Network failed to disable.”

The court did reject a ruling that Dish’s software “workaround” was insufficient to avoid infringement. That means it'll get another look from a court.

Dish said it will take its case to the Supreme Court if it has to concerning being able to continue its DVR service.

TiVo was trading at $11.27, gaining $2.90, or 34.65 percent, as of 2:35 PM EDT. Dish was trading at $23.62, down $0.25, or 1.05 percent.

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