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.
These are the headlines you Need 2 Know for Friday, Aug. 30, 2019.
According to the survey from Hub Entertainment Research, Disney+ seems to be entering U.S. households at the perfect time, as more and more viewers consider cutting the cord.
The exercise media and equipment company reported that it had made $915 million in revenues in the past fiscal year, but saw net losses of about $196 million, in its filing to go public.
These are the headlines you Need 2 Know for Wednesday, Aug. 28, 2019.
Elon Musk says SpaceX will again attempt to launch its Starhopper prototype rocket around 5 p.m. ET today, 24 hours after engineers were forced to scrub the launch with one second remaining on the countdown clock.
On the back of a groundbreaking partnership with data heavyweights Deloitte and Nielsen, cannabis industry intelligence company Headset on Monday announced the launch of its real time analytics tool in the province of Alberta, marking its official debut in the Canadian market. Stakeholders anticipate the data Headset Insights generates ー first in Alberta, and eventually across all of Canada ー will serve as a road map for companies outside of cannabis looking to penetrate the industry, and for Canadian cannabis companies as the market grows more diverse and competitive.
Security startup Openpath announces office tech that will allow workers to report intruders, active shooters, or other threats directly from their mobile devices and send an emergency alert directly to an office's physical security infrastructure.
Gravy Analytics, a location-based marketing technology company, analyzed the smartphone data of people who attended the 111 solo Democratic presidential candidate events held in June and July.
Shares of Lyft ($LYFT) popped more than 3 percent Monday morning after an analyst upgraded the company, citing higher prices as a path to profitability for the ride-hail company.
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.
