Shares of Dish fell 1.3% to $54.61 and Fox Broadcasting parent company 21st Century Fox (FOXA) fell 1.1% to $34.39 Friday.
According to the Wall Street Journal, the Court of Appeals for the Ninth Circuit unanimously denied a petition from Fox Broadcasting to rehear a federal appeals court's decision which ruled in favor of Dish. That appeals court upheld a ruling from a lower court that denied Fox's request to shut down features of the Hopper DVR.
Specifically, Fox asked to shut down features of the DVR that let users automatically record shows on broadcast network and automatically skip ads while watching the recorded shows. Fox and several other broadcasters sued the satellite TV provider for copyright infringement following the announcement of the Hopper DVR.
The Hopper DVR is a problem for those broadcasters as it means fewer viewers will view ads on their content.
TheStreet Ratings team rates Dish as a "hold" with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:
"We rate DISH NETWORK CORP (DISH) a HOLD. The primary factors that have impacted our rating are mixed ? some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, increase in net income and growth in earnings per share. However, as a counter to these strengths, we also find weaknesses including weak operating cash flow and generally higher debt management risk."