Jim Cramer Blog

Stock in Netflix Inc. surged on Wednesday after Blockbuster Inc. said the video rental businesses had settled a patent dispute.
Shares in the Los Gatos company (NASDAQ:NFLX) were up more than 6 percent to $20.74 in midday trading. It has traded in a range between $18.12 and $30 in the past year.

Blockbuster said in a Securities and Exchange Commission filing that terms of the patent litigation settlement between the companies is confidential.
Netflix sued Blockbuster in April 2006, accusing Blockbuster of copying its methods for online home video rental orders.
Blockbuster disputed in a countersuit Netflix' claim that it invented the methods.
Shares in Dallas, Texas-based Blockbuster (NYSE:BBI) were down about 2 percent to $4.14 in midday trading.
Published June 27, 2007 by the Silicon Valley / San Jose Business Journal

Labels: BBI, Blockbuster Inc., Netflix Inc., NFLX