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.
Allstate's partnership with Uber to provide drivers with commercial auto coverage now encompasses four states, including some of the New York market. The expansion hedges against a possible future where fewer car owners means fewer individual policies, said Tom Troy, executive vice president for Allstate's business insurance unit.
Tamara Warren, automotive journalist, said that Mercedes's new electric SUV is the first of what will be many luxury electric cars, and Tesla's about to get a lot more competition.
Will Uber hit its self-imposed deadline to file for an IPO in 2019? Joshua Franklin, IPO and private equity correspondent for Reuters, said it's on track.
Sachin Kansal, Uber's chief safety officer, told Cheddar about the new features rolling out to Uber drivers that were built with their feedback in mind. The announcement comes on the one-year anniversary of Dara Khosrowshahi taking over as the company's CEO.
Wednesday is a busy day on Capitol Hill. Facebook COO Sheryl Sandberg and Twitter CEO Jack Dorsey are testifying before the Senate as questions grow over foreign influence and fake news. Plus, Brett Kavanaugh returns to Capitol Hill to face questions from lawmakers in day two of his confirmation hearings. And we sit down with Tiffany Pham, CEO and founder of the website Mogul, to discuss how women can succeed in business.
These are the headlines you Need 2 Know.
Bjørn Kjos, CEO of Norwegian Air, said the demographic is the most important customer the company has. The company just reported 13 percent growth in traffic in July.
Twitter CEO Jack Dorsey and Facebook COO Sheryl Sandberg are testifying in front of the Senate. Dana Wollman, acting Editor-in-Chief of Engadget, tells Cheddar what these executives have to say to satisfy both lawmakers and investors.
Sascha Segan, mobile analyst at PC Mag, spoke with Cheddar about Samsung's plans to debut a "foldable" phone, as well as to unveil improvements to other mid-tier devices.
Samsung announcing that consumer will be seeing a flexible phone by the end of this year. Sascha Segan, lead mobile analyst at PC Mag, joins Cheddar to discuss what this innovation means and why the company is looking to improve the technology of its mid-tier phones.
