TiVo (TIVO) Going After "Billions" from Google (GOOG)
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Price: $6.09 --0%
Rating Summary:
10 Buy, 11 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 21 | New: 20
Rating Summary:
10 Buy, 11 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 21 | New: 20
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"I want to be a billionaire so freaking bad" - Travie Mccoy
Shareholders of TiVo (NASDAQ: TIVO) are feeling giddy Tuesday following the company's reply to support its motion for consolidation of the TWC/Motorola and Cisco patent infringement lawsuit hearings. In the reply, TiVo states that its damages claim is likely to "run into the billions of dollars" and they seek an injunction of sales of infringing Motorola DVRs.
Analysts at JPMorgan commented on the situation today, saying it is positive for the stock.
TiVo claims that consolidating the Motorola and Cisco cases will reduce cost of pre-trial discovery and of the Markman hearings, the firm notes. They said it may also mitigate risks associated with duplicate depositions.
In the case, TiVo acknowledged the importance, stating that Motorola's infringement "dwarfs" prior infringement claims (Echostar: ~$600 million, AT&T: $215 million, Verizon: $250 million).
"Whether or not consolidation of the two cases is approved by the Court in the Easter District of Texas, we believe this claim currently presents a problem for Google (NASDAQ: GOOG), encumbering them in their efforts to divest the Motorola STB hardware business, an objective widely reported on by the press back in August 2012," analyst Paul Coster notes. "Consolidation of the cases might delay the Motorola trial, prolonging the period of uncertainty for Google. We think this increases TIVO's leverage in seeking a settlement."
The firm reiterated their Overweight rating and $13 price target.
For an analyst ratings summary and ratings history on TiVo click here. For more ratings news on TiVo click here.
Shares of TiVo are up 2.6 percent today to $10.23.
Shareholders of TiVo (NASDAQ: TIVO) are feeling giddy Tuesday following the company's reply to support its motion for consolidation of the TWC/Motorola and Cisco patent infringement lawsuit hearings. In the reply, TiVo states that its damages claim is likely to "run into the billions of dollars" and they seek an injunction of sales of infringing Motorola DVRs.
Analysts at JPMorgan commented on the situation today, saying it is positive for the stock.
TiVo claims that consolidating the Motorola and Cisco cases will reduce cost of pre-trial discovery and of the Markman hearings, the firm notes. They said it may also mitigate risks associated with duplicate depositions.
In the case, TiVo acknowledged the importance, stating that Motorola's infringement "dwarfs" prior infringement claims (Echostar: ~$600 million, AT&T: $215 million, Verizon: $250 million).
"Whether or not consolidation of the two cases is approved by the Court in the Easter District of Texas, we believe this claim currently presents a problem for Google (NASDAQ: GOOG), encumbering them in their efforts to divest the Motorola STB hardware business, an objective widely reported on by the press back in August 2012," analyst Paul Coster notes. "Consolidation of the cases might delay the Motorola trial, prolonging the period of uncertainty for Google. We think this increases TIVO's leverage in seeking a settlement."
The firm reiterated their Overweight rating and $13 price target.
For an analyst ratings summary and ratings history on TiVo click here. For more ratings news on TiVo click here.
Shares of TiVo are up 2.6 percent today to $10.23.
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