The Shareholders Fitbit Inc. (NYSE:FIT) [Detail Analytic Report] released that a court case filed in for certain investors over claimed Securities Laws breaches by Fitbit Inc in connection the company’s June 22, 2015 initial public offering. Fitbit manufactures wearable activity-tracking devices that are wireless and measure data related to a person’s fitness, such as steps walked, hours slept, and stairs climbed.
In late 2014, Fitbit introduced a device that included a heart-rate monitor, which was a major selling point for its devices. The plaintiff says that in fact, Fitbit’s registration statement for the June 22, 2015 initial public offering touted Fitbit’s “PurePulse continuous heart rate tracking” as one of its “Competitive Strengths What Sets [Fitbit] Apart.”
3D Systems Corporation (NYSE:DDD) [Detail Analytic Report] announced GibbsCAM 2016 software for production machining. Building on the revolutionary Universal Kinematic Machine (UKM) technology of the previous edition, GibbsCAM 2016 delivers a variety of improvements to increase efficiency, accelerate programming speed, and enhance visualization and accuracy for CNC machine programming. The GibbsCAM platform provides a powerful complement to additive manufacturing processes, further empowering 3D Systems’ users to transform digital concepts into physical realities. The enhanced kinematic framework of GibbsCAM 2016 makes it a powerful and versatile CAM platform that is effective in nearly every manufacturing environment.
CBS Corporation (NYSE:CBS) [Detail Analytic Report] released that a 10% increase in quarterly revenue, beating Wall Street estimates, as the U.S. presidential campaign and Super Bowl broadcast boosted spending on advertising. The New York-based company, whose earnings also handily beat expectations, said on Tuesday that advertising revenue jumped 31.3 percent in the first quarter ended March 31.
Chief Executive Les Moonves stated in a statement that Advertising is poised for even more growth in the back half of the year as political spending ramps up. Moonves reported in an investor conference in March that the presidential campaign was expected to bump up political spending to record levels in 2016. The company, which also benefited from an extra NFL playoff game, said its net income rose to $473 million, or $1.02 per share, in the quarter from $394 million, or 78 cents per share, a year earlier.