Midday Report: Fitbit Rises on Holiday Sales; Stocks Are Mixed

U.S. stocks pared earlier gains as crude oil continued to pressure markets. High-momentum tech giants including Alphabet (GOOGL), Microsoft (MSFT) and Intel (INTC) were among the best performers. Fitbit (FIT) shares rose after Pacific Crest Securities analysts said holiday sales have been 'exploding.' The firm said that in-store checks show a significant increase in sales in the lead-up to Christmas despite a disappointing Black Friday. Staples (SPLS) fell after the Federal Trade Commission rejected its offer to divest commercial contracts for approval of its $6.3 billion acquisition of Office Depot (ODP). The FTC has not made a counteroffer. Comcast (CMCSA) could make a multi-billion dollar bid for British broadcaster ITV. TheStreet's Keris Lahiff has details from Wall Street.