TiVo Gets Favorable Patent Ruling, Stock Price Up

Shares of TiVo stock soared in early Tuesday morning trading due to a favorable patent decision. A final ruling is expected September 26.

The entertainment technology/TV research company saw its stock jump nearly 8% higher to $17.70.

A preliminary International Trade Commission decision regarding two of TiVo's patents related to set-top boxes ruled that two TiVo patents had been violated by Comcast, Arris and Technicolor.

One Piper Jaffray analyst said that could increase the prospect of a TiVo-Comcast renewal deal this year.



Comcast Corp is the biggest U.S. cable operator, with 22 million video subscribers. Early Tuesday trading of Comcast shares was up 1.5% to 41.45.

In April 2016, Rovi Corp. -- which sells electronic program guides to TV manufacturers and TV services -- bought TiVo for $1.1 billion, and renamed the company, TiVo. TiVo shares are still down 15% from its high during the last 12 months.

Last year, TiVo's annual revenues were up 23% to $649.1 million.

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