Shares of Fitbit Inc. (FIT) are trading down nearly 13% in Friday morning trading. Not seeing any news to account for the move, but the downside looks supported by the company’s pricing of a secondary offering at $29 per share. By the way, the size of the offering was reduced to 3 million shares from the original 7 million.
Shares of Apple Inc. (AAPL) are lower by 1.74% to $113.74 in morning trading on Friday as ticker trades below its $114, 50-day simple moving average.
Apple shares are up 3% in the year to date, while the S&P 500 has lost 1.23%.
Cisco Systems, Inc. (CSCO) shares plunged 5.52% to $26.30 in early trading after the company delivered headline results which beat the Street. Cisco handed in Q116 EPS of $0.59 per share on revenue of $12.68 billion. The Street was expecting $0.56 per share on revenue of $12.65 billion.
Looking ahead, the company gave a current quarter forecast that falls below-consensus. It guided Q216 revenues of $11.94 – $12.17 billion, as compared to analysts’ expectations of $12.54 billion. The management also gave its bottom line range of $0.53 – $0.55 per share, against projections of $0.56 per share.
Shares of EDAP TMS SA (EDAP) continue to surge on Friday, up $0.86, or 17.20%, at $5.82. The spike may be attributed to a positive Louis Navellier newsletter mention.
EDAP shares are currently priced at 68.53x this year’s forecasted earnings, compared to the industry’s 16.64x earnings multiple. Ticker is up 210.62% year-over-year and 113.30% year-to-date.
Shares of Springleaf Holdings, Inc. (LEAF) are up by 9% to $48.08 in early trading on Friday morning, after the company announced that it has reached a settlement with the U.S. Department of Justice and the state Attorneys General of seven states that will allow the company to proceed with closing its previously announced acquisition of OneMain Financial Holdings, LLC.