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.
Genius, the online encyclopedia for lyrics, has struck a deal with Apple that will allow Apple Music subscribers to listen to a song and follow the lyrics side-by-side, all from the Genius website.
Stocks rebounded at the market open Friday after a massive two-day sell-off. The Dow Industrials shot up by 400 points.
On Thursday the Dow closed down more than 500 points, just one day after a 800 point drop. The tech-heavy Nasdaq briefly fell more than 10 percent from its all-time highs, as the market's "fear index" hit its highest level since February. Eugene Yashin, CEO and CIO at Signet Financial
Management, discusses what's causing the volatility.
Anne Mahlum isn't mincing words: her start-up is for sale. The founder and CEO of Solidcore, the latest boutique fitness studio with an NYC flagship, says she's expanding the business with an eye on a sale within five years.
The markets looked to recover from a major sell-off on Wednesday. The Dow closed down more than 800 points. The Florida Panhandle is reeling after Hurricane Michael tore through the region causing catastrophic damage. And Razer launched a handful of new products, including the Razer Phone 2, to make gaming more accessible. Kevin Allen joins Cheddar to explain what makes the products stand out in the gaming world.
Shopify, the Canadian e-commerce site, is finding its place offline opening its first retail space ever in Los Angeles. Satish Kanwar, VP of product at Shopify, said that the company's goal is always to make entrepreneurship more accessible.
The competition is on for new medicinal marijuana licenses in New Jersey after Democratic Gov. Phil Murphy prioritized cannabis production when he took office. The CEO of one potential licensee, Moxie, thinks the state has "passed the tipping point" for accepting medical pot at the state level.
Chad Morganlander, portfolio manager at Washington Crossing Advisors, and Daniel Ives, managing director at Wedbush Securities, urged caution and long-term thinking for investors not used to this kind of volatility.
These are the headlines you Need 2 Know.
The Dow was back to session lows late Thursday morning after briefly entering the green following Wednesday's widespread sell-off.
