Market recap: Ferrari plans for new models revs up stock

September 23, 2018 at 3:39AM
The Ferrari Monza SP1 is displayed in Maranello, Italy, Tuesday, Sept. 18, 2018. Sportscar maker Ferrari has unveiled two updated versions of its classic open-top "barchetta" racing model as it briefs investors on a new five-year business plan. Nicolo Boari, the head of product marketing, said Tuesday that the Ferrari Monza SP1 and SP2 are "the most powerful ever in Ferrari history," with an 810 horsepower engine able to reach 100 kilometers per hour (62 mph) in 2.9 seconds. (AP Photo/Collen Bar
The Ferrari Monza SP1 in Maranello, Italy. The sports-car maker said it would launch 15 new models. (The Minnesota Star Tribune)

Revved up: Ferrari rose 4.2 percent to $138.32 after the sportscar maker announced plans to launch 15 new models in five years as it looks to its roots to fuel growth. Shares closed the week at $137.47.

Growth fit: Fitbit shares gained 6 percent to $6.15 Wednesday after the maker of wearable exercise trackers launched a platform that offers personalized coaching. The company also announced a partnership with Humana to potentially give the insurer's 5 million members access to the platform. Shares closed Friday at $5.94.

Almost there: Praxair climbed 3.7 percent to $163.98 Wednesday on news reports that the industrial gases company is moving closer to U.S. antitrust approval of its merger with Germany's Linde. Shares closed the week at $166.50.

Soft sales: Micron Technology fell 2.9 percent to $44.74 Friday after the chipmaker gave a revenue forecast that fell short of analysts' estimates.

Tweet deleted: Shares in Twitter fell 3.8 percent to $29.98 Monday after an analyst cut the price target on the social media company. The shares closed Friday at $28.50.

Relieved: Teva Pharmaceutical climbed 4.9 percent to $23.98 Monday after U.S. regulators approved the drugmaker's preventive migraine treatment. The stock closed the week at $24.36.

Overhaul gains: Under Armour rose 5 percent to $19.68 Thursday after the athletic apparel company said it will cut 400 jobs and spend more money on a restructuring plan. Shares closed Friday at $20.57.

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