Media
TiVo Taps Google, Cisco, Time Warner for Patent Settlement
Published:
Last Updated:
Including this settlement, TiVo says it has now received $1.6 billion from awards and settlements related to the use of the company’s intellectual property.
TiVo also said it will double its stock repurchase program, from $100 million to $200 million and extend the program through August 2015, bringing the company’s total cash available for repurchases to $160 million.
Following yesterday’s announcement of a settlement, TiVo’s shares spiked nearly 10%. Now that the details are out, however, the shares are tanking in premarket trading. Investors were clearly looking for a better deal.
Shares of TiVo are down nearly 18% in premarket trading this morning, at $11.35 in a 52-week range of $7.75 to $14.10. Shares closed at $13.71 last night.
Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.