Sunday, May 24, 2015

WPCS surges on bitcoin platform; Textron gains

NEW YORK (MarketWatch) — WPCS International Inc. was the biggest gainer in premarket trade Friday following the communications company's announcement that it was launching a software platform to trade the digital currency bitcoin.

Gainers Bloomberg Enlarge Image WPCS said it would launch a bitcoin trading platform.

WPCS (WPCS) launched a beta version of BTX Trader, which is set to be used to gather data and execute trades on five exchanges for bitcoin, a virtual currency that has been highly volatile in recent weeks. Shares in WPCS were up 54% premarket.

Bitcoins recently traded on the Mt. Gox exchange at $794 Friday. This month, the cryptocurrency has traded as high as $1,240 and as low as $455.

Textron Inc. (TXT)  shares gained 2.2% premarket Friday after the firm said it would acquire Beechcraft Corp. for $1.4 billion. Beechcraft, maker of Cessna planes and Bell helicopters, emerged from Chapter 11 bankruptcy earlier this year.

Decliners Click to Play China rebukes Japan leader's visit to Yasukuni Shrine

Japanese Prime Minister Shinzo Abe visited the Yasukuni Shrine, triggering condemnation from the Chinese government, which views the shrine as a symbol of Japan's past militarism.

Central European Media Enterprises (CETV)  fell 5.2% premarket after gaining 1% in the previous session.

Trending tickers

Twitter Inc. (TWTR)  shares retreated 0.9% Friday as investors tried to gauge whether the Internet company's stock surge this week was poised to continue. Twitter was up 22% on the week with 82.7 million shares changing hands on Thursday alone.

3D Systems Corp. (DDD)   was closely watched after it gained 7% Thursday to trade at $92.10. Shares were up another 2% premarket. Canaccord Genuity raised its price target on the 3D printing company ahead of the Consumer Electronics Show in January.

Canaccord Genuity Analyst Bobby Burleson wrote on Tuesday: "We are increasing our price target to $95 from $85 ahead of expected multiple expansion during CES. We believe new consumer-related product releases and refreshes will be met by investors with optimism."

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