Shares of Snap Inc. are up 2.8% in Thursday morning trading after the company announced its second-generation Spectacles model, a pair of sunglasses that can capture photos. The prior version could only take videos. The new Spectacles are also water resistant in shallow water and cost $149.99. The glasses feature the same round design as the previous model did, but the company says they will transfer footage to the Snapchat app up to four times faster. Snap's price gains Thursday also come after fellow social-media company Facebook Inc. reported strong results for its first quarter. Snap shares are down 33% over the past 12 months, while the S&P 500 has gained 11%.