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.
Trump said that the order will “require General Motors to accept, perform, and prioritize Federal contracts for ventilators." In a statement, he said the contracting process with the automaker was not moving quickly enough.
From Wall Street to Silicon Valley, these are the top stories that moved markets and had investors, business leaders, and entrepreneurs talking this week on Cheddar.
Mark Zuckerberg and his wife Priscilla Chan have donated $25 million through their foundation to a philanthropic effort organized by Bill Gates to explore new coronavirus treatments.
Healthcare workers have launched their own campaigns for gathering personal protective equipment as they fight the coronavirus on the frontlines, with #GetUsPPE trending across social media.
The new feature, which is being rolled out in the hardest-hit areas this week, will appear on pages for businesses like restaurants, bars, beauty parlors, and gyms.
If a measure for fossil fuels is included, the groups insist, similar support should be extended to clean energy and electric vehicles, insiders tell Cheddar.
Harnessing the cooling fans from F-150 pickups and the battery packs for its power tools, Ford on Tuesday announced that it will start making sorely-needed ventilators, respirators and medical face masks to help alleviate dire shortages as coronavirus cases surge across the country.
While the spread of the coronavirus has caused millions of layoffs across the country, select businesses are on a hiring spree to meet increased demand related to the outbreak.
Tesla and SpaceX CEO Elon Musk on Sunday said that his companies are on track to build and ship approximately 1,200 direly-needed ventilators as soon as this week.
The New York Stock Exchange’s famously hectic trading floor was dead quiet this morning as it opened for the first time in its history without traders.
