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)

Copyright (c) 2023 Dow Jones & Company, Inc.
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