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
- Cloud Computing Leaves Pimlico, Others Thinking Belmont
- Cloud Computing Wears Down Classic Empire in Preakness
- Agent Ryan Not Surprised by Cloud Computing's Win
- Trainer Richie Scherer Dies at Age 53
- Hips to Watch: Day 1 Fasig-Tipton Midlantic Sale
- Soul Stirring Frankel's First Classic Winner
- Preakness Wrapup: Clouds Got in the Way
- La Coronel Prepares for Royal Ascot Run
- Actress Announces Presence in Black-Eyed Susan
- Grizzel Edges Enstone in Selene Stakes