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Tivo stock takes off on patent news

Tivo's stock jumped 72% on news that it had secured new patents on personal video recorders.

The patents
cover methods of the recording of one program while another is replayed; the pause, rewind or forward "live" television programming; and formats to convert digital and analog signals. The news was released just as the company posted a mixed financial report for the first quarter ended April.

The company added 35,000 new subscribers to the Tivo PVR and guide service. That's about half the rate of the 63,000 subscribers added in the fourth quarter ended January. The company's burn rate totalled $53 million, leaving the company's unrestricted cash at about $71 million and total cash at $121 million.
- John Higgins