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TiVo Wins Set-Top Box Patent Case Against Comcast, Stock Surges

The U.S. International Trade Commission ruled in favor of Rovi Corp., the company that bought TiVo last year, in a case regarding set-top box patents against Comcast Corp. (CMCSA - Get Report) .

Comcast is now prohibited from importing and selling certain kinds of Xfinity X1 set-top boxes. The boxes that are now banned were found to infringe on Rovi's - and now TiVo's - patents for earlier boxes, according to a report from Reuters.

TiVo stock jumped nearly 10% premarket Wednesday, Nov. 22, on the news. Shares have fallen over 15% since the start of the year. Comcast stock was up 0.2% premarket.

The ban is on some of Comcast's early Xfinity boxes, but not the product's legacy versions. It will stand unless overturned by President Donald Trump during the Presidential review period. Comcast told Reuters in an emailed statement that it plans to appeal the decision.

Comcast is a holding in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio . Want to be alerted before Cramer buys or sells CMCSA? Learn more now.

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