TiVo Loses Ground on Appeals Court Ruling

Bear Stearns and S&P each downgrade the shares of the DVR maker after EchoStar wins a ruling from a federal appeals court

TiVo (TIVO) shares went into rewind mode Oct. 4, a day after a federal appeals court granted EchoStar Communications' (DISH) request to stay a permanent injunction imposed by a lower court that would have prevented EchoStar from making, using, or selling certain digital video recorders (DVR) in the U.S. The appeals court ruling means that EchoStar will still sell its DVRs and keep existing ones in customers' homes, pending the outcome of EchoStar's appeal.

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