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.
Facebook CEO Mark Zuckerberg said his company is rebranding itself as Meta, an effort to encompass its virtual-reality vision for the future.
A new study from Fidelity has found that holders of cryptocurrency are disproportionately more charitable as investors, with 45 percent donating $1,000 or more to charity in 2020.
SpaceX is resolving toilet spills in its capsules before it launches another crew for NASA. Liftoff is currently set for early Sunday from Florida's Kennedy Space Center.
Last spring, as false claims about vaccine safety threatened to undermine the world's response to COVID-19, researchers at Facebook found they could reduce vaccine misinformation by tweaking how vaccine posts show up on users' newsfeeds.
A report in the New York Times published Sunday called 'Inside Amazon's Worst Human Resources Problem' details the company mishandling paid and unpaid leave for some of its workers for more than a year and a half, following an email sent to Amazon founder Jeff Bezos from a new mother who works at a warehouse in Oklahoma, which then led to an internal investigation at Amazon. Seattle tech correspondent for the New York Times Karen Weise joined Cheddar News' Closing Bell to talk about her report and what the Amazon investigation found.
Facebook the company is losing control of Facebook the product — and of the carefully crafted image it’s spent over a decade selling despite problems like misinformation, human trafficking, and pervasive extremist groups on its platform.
Microsoft says the same Russia-backed hackers responsible for the 2020 SolarWinds breach continue to attack the global supply chain and have been targeting cloud service resellers and others.
Record electric vehicle sales last summer amid a shortage of computer chips and other materials propelled Tesla Inc. to the biggest quarterly net earnings in its history.
For nearly a decade, bitcoin evangelists have sought SEC approval for a bitcoin-linked exchange-traded fund (ETF) in order to attract more investors into the crypto space.
Netflix has posted sharply higher third-quarter earnings thanks to a stronger slate of titles. Those include “Squid Game,” the dystopian show from South Korea that the company says became its biggest-ever TV show.
