VHC - VirtneX drops for a second day following court ruling on Friday

VirtneX (NYSE:VHC) fell 3.3% after dropping 18% yesterday after a court ruling in its long standing battle with Apple (NASDAQ:AAPL) over patents. The court ruling appears to be "incrementally negative" to VirnetX  "as it appears that VirnetX can no longer receive its second large Judgement from the Eastern District of Texas by simply having timing advantages," MDC Financial Research wrote in a note to clients late Friday. "With the Appeals once again designated as "Companion Cases, Virnetx now must win on the Merits, which appears to require a Reversal of the PTAB's Final Written Decisions that have invalidate two underlying Patents," MDC Financial added. Recall in March, VirnetX shares dip after losing appeals court ruling in Apple patent case.

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VirtneX drops for a second day following court ruling on Friday