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.

Comcast (CMCSA) is scheduled to announce quarterly results on April 25, while Paramount (PARA) and Warner Bros. Discovery (WBD) are... To see the rest of the story go to thefly.com. See Story Here