was higher after the San Diego-based medical device company said a U.S. District Court in Delaware granted its motion to stay the patent infringement case brought against it by a unit of
The court granted DexCom's motion to stay the litigation pending re-examination of the patents by the U.S. Patent and Trademark Office. The company also said the court dismissed a claim in Abbott's lawsuit where Abbott sought to add three additional patents to the litigation.
Dexcom said Abbott later filed a separate action alleging patent infringement of those same three additional patents. DexCom says the complaint has no merit.
Shares of Dexcom gained $1.93, or 15.8%, to $14.15.
was climbing after the Chicago-based metals processor was upgraded by JP Morgan to overweight from neutral. Shares were trading up $1.14, or 5.3%, to $22.75.
Magma Design Automation
( LAVA) gained after the Santa Clara, Calif., semiconductor design software company said the U.S. Patent and Trademark Office rejected all the claims in a
patent. The validity of the patent has been in dispute during the companies' litigation that's currently before the U.S. District Court for the Northern District of California.
"This determination by the U.S. PTO is entirely consistent with the position we have maintained throughout the case, which is that Synopsys'
patent is invalid," said David Stanley, Magma corporate vice president, corporate affairs. "We are pleased with the U.S. PTO's action." The decision doesn't invalidate the Synopsys patent, but Magma said it is an "intermediate step in the re-examination process that may ultimately result in the patent being deemed invalid." Magma was up 59 cents, or 8.4%, to $7.58. Synopsys slipped 16 cents to $17.95.
Bristol West Holdings
( BRW) fell after the Davie, Fla., company was downgraded by Stifel Nicolaus to sell from hold. Shares fell 53 cents, or 3.4%, to $15.24.