Shares of footwear retailer Crocs Inc. (Nasdaq:CROX) are up 7% in pre-market trading today after the Center for Medicare and Medicaid Services accepted the company’s Custom Cloud model into the diabetic shoe program. The Niwot, Colo.-based company said acceptance into the program means doctors can fit the more than 23 million Americans with diabetes with the CrocsRx Custom Cloud model.

Also, after the close on Wednesday, competitor Skechers USA Inc. (NYSE: SKX) denied allegations of patent and trade dress infringement of Crocs’ logo. Skechers said the lawsuit is without merit and that it is prepared to fight such claims.

In today’s pre-market trading, shares of Crocs are at $8.55 at 9:04 a.m. ET, up $0.54 from Wednesday’s close.

For access to the full article, you must be a registered member - it's FREE.