ION Geophysical Jumps 28% (IO)

Shareholders of ION Geophysical Corp. IO are having a memorable day, with the stock surging 27.76% to $12.60 on massive volume during Thursday's trading session. The company announced today that the United States District Court for the Eastern District of Texas entered a final judgment and permanent injunction in its patent infringement lawsuit against seismic equipment provider Sercel, Inc. ION is a leading provider of geophysical technology, services, and solutions for the global oil & gas industry. ION's offerings allow E&P operators to obtain higher resolution images of the subsurface to reduce the risk of exploration and reservoir development, and enable seismic contractors to acquire geophysical data more efficiently.