Shares of Broadcom Inc.
AVGO,
gained 0.4% in premarket trading Friday, after the semiconductor company said a German patent court said its patent related to video coding was valid. The company said a Munich district court also issued an injunction that requires Netflix Inc.
NFLX,
to “cease and desist” further infringement of Broadcom patents. The district court has ruled that Netflix infringes on a Broadcom patent covering features of digital video processing used in high-efficiency video coding (HEVC). Broadcom said it has filed a motion with the district court “seeking penalties for Netflix’s lack of compliance” with the injunction. Netflix’s stock rose 0.4% ahead of the open. Meanwhile, futures
ES00,
for the S&P 500
SPX,
tacked on 0.5%.
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