Shares of SolarCity (SCTY) spiked nearly 10% Friday afternoon after a key proxy advisory firm came out in favor of Tesla Motors' (TSLA) proposed $2.6 billion purchase of the alternative energy company. The vote of confidence is key ahead of the Nov. 17 shareholder vote on the acquisition.
Entrepreneur Elon Musk is the head of both companies and the deal originally received major pushback due to the perceived conflict of interest from combining the two companies. Today, Musk told CNBC that solar panels were always in electric vehicle maker Tesla's plans; however, USB analyst Colin Langan told CNBC that he is still "very cautious about the deal."
Fireye (FEYE) shares spiked Friday following the release of the cybersecurity company's third-quarter results after the closing bell on Thursday. The company reported total revenue of $186.4 million vs. Wall Street's $182.6 million expectations, yielding a net loss of $0.18 per share vs. $0.31 per share loss expectations. For the current quarter, FireEye expects an adjusted loss between $0.16 and $0.18 per share on revenue between $187 million and $193 million. FactSet expects the company to report a loss of $0.20 per share on revenue of $196 million.
TrueCar (TRUE) shares were up 16% after reported a net loss of $7.4 million, or a penny per share vs. consensus estimates of a net loss of $0.06 per share. The car-cost information provider reported revenue of $75.1 million, also topping analyst expectations for the period. For the full year, the company expects revenue to range between $273.4 million and $275.4 million. The company was able to report a narrower loss than the year before thanks to a 4% increase in revenue.
Shares of Weight Watchers (WTW) jumped nearly 10% Friday, continuing to climb after its third-quarter earnings beat. The health and dieting company reported a 2.7% increase in year-over-year income, reporting revenue of $280.8 million yielding earnings of $0.53 per share vs. analysts' $285.5 million revenue and $0.45 per share earnings expectations. "We've seen a great response to our fall campaign and in Q3 we achieved our highest year-over-year percentage growth in recruitment so far this year," interim CEO Nick Hotchkin said in a statement.