BUZZ-U.S. STOCKS ON THE MOVE-Fitbit, Bankrate, Digital Ally, Radius
(For faster updates on individual market-movers, Eikon users please use search string "STXBZ US"; for the Day Ahead newsletter, link.reuters.com/mex49s; for the Morning News Call newsletter, link.reuters.com/nex49s) Wall Street was higher at the open, a day after the Federal Reserve said the U.S. economy is likely strong enough to withstand an interest rate increase later this year but indicated that the pace of a hike will be slower than expected. The Dow Jones industrial average was up 0.99 percent at 18,113.17 and the S&P 500 was up 0.88 percent at 2,118.85.
** FITBIT INC, $29.84, +49.20 pct
Shares of the maker of popular wearable fitness-tracking devices ran up as much as 60 percent in their debut, valuing the company at up to $6.5 billion.
** ORACLE CORP, $41.1, -8.48 pct
At least five brokerages cut their price targets after the business software maker reported fourth-quarter profit and revenue below analysts' estimates. "Weak Q4 results remind us that the pain from the transition to cloud is likely to stay for several quarters," Piper Jaffray analysts wrote.
** BANKRATE INC, $11.37, -17.91 pct Continued...