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Following up on its litigation against DISH Network (DISH) and Echostar (SATS), TiVo (TIVO) this afternoon announced that it has filed suit against AT&T (T) and Verizon (VZ) in federal court in Texas for infringement of three patents covering DVR technology. Both companies use DVRs in their digital TV services.

The patents at issue include 6,233,389 B1 (”Multimedia Time Warping System”), 7,529,465 B2 (”System for Time Shifting Multimedia Content Streams”), and 7,493,015 B1 (”Automatic Playback Overshoot Correction System”).

EchoStar (SATS) shares are trading higher this morning after Citigroup analyst Jason Bazinet this morning raised his rating on the stock to Buy from Sell, while boosting his price target to $21, from $13.50. The stock closed Monday at $15.97.

Bazinet offered five reasons for his upgrade of EchoStar, which makes set-top boxes:

DISH Network (DISH) shares are trading higher on stronger than expected Q2 subscriber growth.

For the quarter, the satellite TV service provider posted revenue of $2.904 billion, just below the Street consensus of $2.91 billion, and down 0.4% from a year ago. EPS of 14 cents a share was well below the Street at 67 cents, in part due to costs related to the company’s litigation with TiVo (TIVO). Bernstein Research analyst Craig Moffett notes this morning that EPS would have been 47 cents without the TiVo-related expenses.

Where is the market headed? That is a really great question. We are very range bound it appears for the near term of the next weeks with I think the market taking profits and investors reinvesting into stocks that have moved down slightly off highs that were seen over the last two weeks. Playing the intraday investments will be tough as we try to gauge where the market will head on a day to day basis.