FIT - Stock Market News for August 28 2019
The stock market was solidly higher by early afternoon Wednesday, following a volatile morning. At 1:40 p.m. EDT, the Dow Jones Industrial Average (DJINDICES: ^DJI) was up 0.85%, the S&P 500 (SNPINDEX: ^GSPC) had gained 0.59%,, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) was 0.31% higher.
These broad stock market gains didn't help Autodesk (NASDAQ: ADSK), which slashed its guidance due to economic uncertainty. Meanwhile, Fitbit (NYSE: FIT) stock surged thanks to new product announcements.
Shares of Autodesk were down 8% by early afternoon Wednesday after the 3D design software provider tarnished its solid second-quarter report with a guidance cut. The company isn't currently being affected by trade tensions, but it's nonetheless adopting a conservative outlook for the rest of the year.