Trading was heavy again on Gemstar-TV Guide International Tuesday, but the media and technology company that lost 39% of its stock value Monday ended the day with a small gain.
Gemstar-TVG Guide International, the parent company to the TV Games Network racing channel, suffered a serious blow in court Friday when it lost a crucial patent infringement case.
Gemstar-TV Guide stock plunged Friday after a report released two days ago said the company may have engaged in "patent misuse" and that its on-going patent infringement lawsuit may be groundless.
Gemstar-TV Guide International's stock is tumbling this week because of doubts that the company can protect its interactive programming guide patents in a key court case, according to analysts. Gemstar is the parent company to the TV Games Network, a horse racing network and interactive wagering service.
Most Popular Stories
- Mine That Bird Still Flies in Kentucky
- Sisterly Love Scores Doubledogdare Upset
- Speightstown Colt Works Quick Quarter at OBS
- TimeformUS Saturday Stakes Plays
- Indiana Grand Racing & Casino Begins New Era
- Churchill Derby, Oaks Security Plan Released
- Samraat, Uncle Sigh Work at Belmont
- A Case for Full Siblings
- Mike Mitchell to Step Down as Head Trainer
- Oaklawn Posts Double-Digit Handle Gains