E*TRADE Generation Trader: FitBit's Position in Wearable Tech
FitBit is a pioneer in wearable technology. But the company has recently shifted its strategy amid competition from the Apple Watch, and as the wearable market has failed to really see mass adoption. Cheddar's Hope King and Brad Smith explore the company's performance using E*Trade's innovative platform.
Adult wearable technology users in the U.S. is expected to grow nearly 12 percent this year, according to eMarketer. In a survey conducted by Cheddar, 18 percent said they own a FitBit compared to 27 percent who've said they own an Apple Watch. 47 percent of those surveyed by Cheddar say they don't wear any wearable technology.
FitBit has had an up and down year, with shares ranging between $5 and $7 a share. Overall, shares are down 17 percent over the course of the past year. The company did introduce its first smartwatch in 2017, and is looking to directly compete against the Apple Watch at a similar price point. Shares also hit a 52-week high in December during the holiday shopping season.
FitBit reports fourth quarter earnings after the Closing Bell Monday. Analysts expect revenue of nearly $590 Million, and to break even in profit.
In recent years, extreme weather events like flooding and wildfires have become more frequent, and more severe - and scientists say global warming is to blame. Climate crises could leave people in need of help, and that's where Global Rescue steps in. The crisis response firm employs former Navy Seals and Army Rangers to rescue travelers from climate-related emergencies. Global Rescue CEO Dan Richards joins Cheddar Climate to discuss.
Cloud-based AI-powered writing assistant Grammarly recently raised $200 million in a funding round that values the company at $13 billion. The funding will be used to help Grammarly achieve its goal of becoming more ubiquitous, as the company says it wants to be the go-to writing assistant for wherever people type. Grammarly also says it aims to solve what it calls one of the most critical problems facing people and businesses today -- ineffective communication. Grammarly global head of product Rahul Roy-Chowdhury joins Cheddar News' Closing Bell to discuss.
The Competition and Markets Authority in the UK moved to block Facebook parent company Meta from acquiring the image sharing platform Giphy after saying advertisers and consumers would be adversely impacted. Hatem Dhiab, managing partner at Gerber Kawasaki Wealth & Investment, joined Cheddar to break down the decision and noted that the CMA's order could also halt other big tech firms from making similar purchases in the future. "I think this is going to be true for Facebook, it's going to happen for other big tech companies — Amazon, perhaps Google, so it's interesting that the UK is starting this wave," he said.
Namita Dhallan, Chief Product Officer at Brightcove, joins Cheddar to discuss how artificial intelligence and machine learning are creating room for more personalization in video, and how these technologies are shaping the future of the video tech industry.
NASA indefinitely delayed a spacewalk to repair an ISS antenna, citing concerns about space debris. It was unclear if the warning from the space agency to astronauts aboard the ISS was related to the recent destruction of a non-functioning Russian satellite.
Jack Dorsey has officially stepped down as CEO of Twitter.
In a statement -- he says he is leaving because the company is ready to move on from its founders. Tom Morton, Global Chief Strategy Officer, R/GA joined Cheddar's Opening Bell to discuss the implications of the move.
Mike Proulx, VP and research director at Forrester, joined Cheddar to talk about what Jack Dorsey's departure from Twitter as CEO means for the social media platform. He noted that while Dorsey had been the face of the company, "he's been a part-time CEO" since also taking on the leadership position at Square. Stepping down from leading Twitter allows his replacement Parag Agrawal, the former CTO, to be a dedicated leader of the company. However, Proulx noted that Agrawal faces headwinds on policy and political ramifications that will come with the job.
