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Fly News Breaks for March 26, 2015
NFLX, ROVI
Mar 26, 2015 | 06:03 EDT
Piper Jaffray attributes the over 10% pullback in shares of Rovi (ROVI) late yesterday to speculation the company's patent infringement suit against Netflix (NFLX) is going unfavorably. The two companies are currently in the midst of the claim construction "Markman" hearing, Piper points out. The firm does not believe the Netflix case will have a significant impact on Rovi's upcoming renewals. It also adds it never had a high degree of confidence in Rovi's ability to generate a revenue stream from over-the-top. Piper says a potential patent license revenue stream from Netflix was always relatively unlikely. It reiterates an Overweight rating on Rovi with a $29 price target.
News For ROVI;NFLX From the Last 2 Days
NFLX
Mar 18, 2024 | 06:12 EDT
Netflix is rethinking a core tenet of its vaunted culture, that of "freedom and responsibility," trusting employees to use discretion on everything from sharing internal documents to taking vacation, Jessica Toonkel of The Wall Street Journal reports. The company is discussing removing the "freedom and responsibility" section from the corporate-culture memo, people familiar with the situation told the Journal. Language encouraging employees to take ownership for their actions is being considered to be inserted in the section instead. Reference Link