Closing Bell: Wedbush Backs Fitbit Growth; Stocks Snap Streak




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Summary: Wall Street made its best effort to extend a three-day winning streak into a fourth session but last-minute moves toward the flatline weren't enough. Stocks closed in the red after a pullback in crude prices pressured the energy sector. Retail stocks were under pressure after Restoration Hardware issued disappointing guidance. Fellow home and furniture retailers Williams-Sonoma and Bed Bath & Beyond sold off in sympathy. Fitbit climbed following a bullish analyst note from Wedbush. The firm initiated coverage on the fitness tracker maker with an OUTPERFORM rating, noting that it sees user growth from accessory sales and corporate wellness programs. Under Armour has enticed chief design officer Dave Dombrow back to the company just months after he left to join rival Nike . He has been behind some of Under Armour's most successful brands such as Stephen Curry's footwear line.