Masimo Shares Rise 11% After Agency Rules Apple Violated Patent
October 26 2023 - 5:16PM
Dow Jones News
By Ben Glickman
Shares of Masimo rose after a U.S. federal trade agency ruled
Apple violated the company's patent.
Masimo's shares were up 11% to $90 in after-hours trading,
following a 1.8% drop at Thursday's close. Shares were down 45%
this year.
Masimo, a medical technology company, has alleged Apple violated
its patents for blood-oxygen reading technology with its Apple
Watch. On Thursday, the U.S. International Trade Commission ruled
in favor of Masimo.
The commission banned the import of certain Apple Watches, which
could be overturned by the Biden administration or appealed by
Apple.
Write to Ben Glickman at ben.glickman@wsj.com
(END) Dow Jones Newswires
October 26, 2023 18:01 ET (22:01 GMT)
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