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 Doral (DRL - Get Report) 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.
Shares of Prana Biotech (PRAN) 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 Oxigene (OXGN) 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 Pharmaceuticals (AEZS) and ACADIA Pharmaceuticals (ACAD - Get Report) were other biotech stocks in play on Tuesday, rising 5% and 4.6% respectively. Shares of Jaguar Mining (JAG - Get Report) 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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