DISH Network Corp. (DISH) Touches 52-week High

DISH Network Corp. (DISH) Touches 52-week High

Shares of DISH Network Corp. (NASDAQ: DISH) jumped more than 5% in today�s trading. The stock reached a 52-week high of $24.16 in trading, and at last check was up by 4.78% to $23.01, with volume up from daily average of 4 million to 8.66 million.

The stock jumped after news surfaced that the U.S. Court of Appeals for the Federal Circuit will reconsider TiVo Inc.�s (NASDAQ: TIVO) legal victory against DISH and Echostar (NASDAQ: SATS) in a patent infringement case. The decision led to a surge in the DISH stock, while TiVo dropped. DISH will continue to see some interest over the coming days as the appeals court reconsiders the case. The direction of the stock will largely depend on the outcome of the case. Judging by the way markets have reacted to the news, it seems that the chance of favorable outcome for DISH is likely. In March, a federal appeals court had upheld a trial judge�s decision that found DISH and Echostar in contempt of patent infringement. The case between TiVo and DISH and Echostar dates back to 2004.

Earlier this week DISH reported its first-quarter results, posting first-quarter revenue of $3.06 billion, an increase of 5.2 % from the same period last year. Net income attributable to shareholders stood at $231 million, down from $313 million reported in the corresponding quarter last year. In the first quarter, DISH added 237,000 new subscribers. It ended the quarter with 14.337 million subscribers.

With the launch Univision HD, TeleFutura HD and Galavision HD, this week, DISH also became the first and only company to launch all three Univision networks in HD. The move comes just in time for 2010 FIFA World Cup.

DISH Network stock has a 52-week range of $14.17-$24.16, with the 52-week high reached in today�s trading. The stock has a beta of 1.59, which shows that it has been volatile. Currently, DISH is trading above its 50-day and 200-day moving averages.

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