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.
Elliott Management Corporation, an activist investment firm, called for major changes at AT&T on Monday and unveiled a plan that it says could boost the telecommunication company's stock by 65 percent in the coming years.
Stripe, which has become the highest valued private fintech company at $22.5 billion by giving merchants a way to accept digital payments, launched Stripe Capital on Thursday.
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.
Facebook Dating — a service that will pair users up based on location, listed interests, and Facebook activity — launched in the U.S. on Thursday.
Once a skill solely possessed by so-called computer nerds, now even parents and toddlers are learning how to code. Cem Eltutar, founder of Creoqode, explains how his technology uses robots and games to easily teach people how to code.
These are the headlines you Need 2 Know for Thursday, September 5, 2019.
Slack beat expectations in its second quarter earnings report, posting $145 million in sales after the bell on Wednesday. The company was expected to report $141.25 million in sales.
The terms of the settlement between YouTube-parent Google and the FTC and the New York state attorney general were announced on Wednesday. Google and YouTube will pay $136 million to the federal government and another $34 million to New York.
The new funds will help Elliptic develop its offerings as it prepares to add more digital assets and address more types of risk for new and different types of customers, mainly in banking and financial services, CEO James Smith told Cheddar.
Fact or Fiction: search engine optimization has lost its value thanks to podcasts, video, and social media. Brian Fanzo, founder of iSocialFanz, joins Cheddar to break down this myth and help entrepreneurs grow their business.
