Why Fitbit, SodaStream International, and Stamps.com Jumped Today

The stock market once again finished with mixed performance on Thursday, as major benchmarks moved in different directions. Weakness in technology stocks pulled the Nasdaq Composite down more than other key indexes, but the Dow Jones Industrials spent much of the day in record territory. In the absence of major news on the macroeconomic or geopolitical fronts, investors are content to watch what's happening with corporate earnings, and crosscurrents in different sectors are playing out as a tug of war between bulls and bears. Yet some companies had unquestionably good news that sent their shares higher. Fitbit (NYSE: FIT), SodaStream International (NASDAQ: SODA), and Stamps.com (NASDAQ: STMP) were among the best performers on the day. Below, we'll look more closely at these stocks to tell you why they did so well.

Shares of Fitbit gained 15% after the maker of wearable fitness trackers released its second-quarter financial results. The company suffered some big setbacks during Q2, including a 40% plunge in sales that led to Fitbit posting a loss for the quarter. Fitbit sold only 3.4 million devices during the period, down from 5.7 million a year ago. The company also predicted that third-quarter results are likely to be discouraging, with sales down 20% to 25% from year-ago levels and another adjusted loss of between $0.05 and $0.20 per share. Yet even with all that bad news, investors were pleased about incremental progress that Fitbit made in cutting back on costs. Moreover, hopes are high that the smartwatch launch Fitbit plans for later this year could be a game-changer. That's a risky bet, but it's one that shareholders think could be a winning one.

Image source: Fitbit.

Source: Fool.com