NEW YORK (
) -- Shares of
(TIVO - Get Report)
jumped 38% to $11.54 Wednesday, with volumes topping 30 million shares in noon trading.
The U.S. Court of Appeals upheld a district court's ruling of contempt against EchoStar Communications in an ongoing patent dispute between the two companies. TiVo is seeking a permanent injunction against EchoStar and Dish Network for infringing on a TiVo patent.
Puerto Rico-based bank
saw its shares soar 32% to $1.37 after it reported a net profit of $3.3 million, reversing a $3.5 million loss in the year ago quarter on the back of improving asset quality.
were gaining 16% to $2.58 after the company said it was accelerating the development of its PBT2 compound that is used to treat Alzheimer's Disease and Huntington's Disease.
Shares of bio-pharma company
were gaining 7% to $1.73. The company announced that clinical investigators have enrolled the first patient in phase 2 trials of of Zyberstat in patients with ovarian cancer.
(AEZS - Get Report)
(ACAD - Get Report)
were other biotech stocks in play on Tuesday, rising 5% and 4.6% respectively.
surged 5.6% to $5.77 after JPMorgan upgraded its rating on the gold miner to an overweight from neutral.
--Written by Shanthi Bharatwaj in New York
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