Bay Area stocks flexed their muscles Tuesday, with the likes of Fitbit, Pandora Media and Twitter all finishing the day with solid gains.
Fitbit climbed more than 5 percent, to $5.32 a share, as the fitness band maker became the subject of some takeover speculation. Still, some analysts who follow Fitbit said the possibility that the company could be a buyout target remains a long way off.Twitter had a good day, too, with its shares rising 3.2 percent to close at $16.63. Before the stock market opened, reports surfaced saying the government of Iran was ready to considered unblocking access to Twitter in the country.
Alphabet shares rose 2 percent to $940.40, Square climbed 3.6 percent to $25.34, and Apple rose 1.6 percent to reach $159.78.
Pandora Media shares surged by 6 percent, to end the day at $8.59. Morgan Stanley analyst Benjamin Swinburne said in a research note that new Pandora Chief Executive Roger Lynch is a good match for the company, and he expects it to focus more on its ad-supported music-streaming service.
The tech-focused Nasdaq Composite Index climbed 1.4 percent, to end the day at 6,297.48, while the blue chip Dow Jones Industrial Average rose nearly 1 percent, to 21,899.89, and the broad-based Standard & Poor’s 500 Index tacked on 1 percent to finish at 2,452.51.
Published at Tue, 22 Aug 2017 22:14:22 +0000