Recapping the big headlines

Traders work on the floor of the New York Stock Exchange.
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Traders work on the floor of the New York Stock Exchange.

Patent dispute settled

Shares of Celgene traded more than six percent higher on news of a patent settlement and a handful of analyst upgrades Wednesday.

Celgene announced Wednesday it had settled a long-running patent dispute case related to its blood cancer drug in a deal that will let an Allergan subsidiary sell a generic version of the drug in the United States starting in 2022. William Blair reiterated its rating on Celgene to outperform. Cantor Fitzgerald reiterated the stock to a buy. The consensus price target is $142.75 with a 52-week range of $92.98 to $140.72.

T Mobile vs. YouTube

Alphabet's YouTube has accused T-Mobile U.S. of intentionally "throttling" its video content.

In a promotion released last month, T-Mobile waived data fees to users watching lower quality streamed videos from several services, including Netflix, HBO Go and Hulu. YouTube argued the carrier's "Binge On" program prevents subscribers from streaming higher quality HD video.

The FCC recently sent a letter to T-Mobile asking for further information on Binge On.

Rovi signs deal with AT&T

Rovi shares skyrocketed 33 percent Wednesday on news the company renewed a licensing deal with AT&T.

The new, seven year agreement allows AT&T to access Rovi's patent portfolio.

Rovi, a personalized IP entertainment company, licenses technology for programming guides and menus that help customers find TV and movies they want to watch.