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.
Janet Comenos, the CEO of celebrity marketing company, Spotted sat down with Cheddar anchors to discuss the rise in "disgrace insurance," the cost to protect brands from scandals surrounding celebrity endorsers -- something prompted by Harvey Weinstein and the #MeToo movement.
Citron Research's Andrew Left raised his price target on Twitter to $52 a share this week, more than 60 percent higher than where the stock closed Thursday. The long-time short seller, who earlier this year said the social media platform was more susceptible to regulation than its competition, is less concerned by privacy issues now and applauded CEO Jack Dorsey's efforts in video.
The SEC is reportedly moving forward with its investigation into Tesla and outspoken CEO Elon Musk. Laura Unger, former chair of the SEC, told Cheddar she suspects Musk hadn't truly secured funding to take the company private when he tweeted that he had. "I do think he's probably wishing right now that he's the CEO of a private company," she said.
The gaming headset maker Turtle Beach smashed revenue expectations in the second quarter, earning $60.8 million ー up from $19.1 million the year before. To build on growing sales in the console market, CEO Juergen Stark says Turtle Beach is introducing a new headset built for PC gamers.
Avis, the car-rental company, has a fleet of 100,000 connected vehicles and new partnerships with Airbnb, Lyft, and Waymo, the self-driving car company owned by Alphabet. It's part of a strategy to provide "mobility on demand for the global traveler," says Arthur Orduna, Avis's chief innovation officer.
In a converted Brooklyn warehouse, dozens of developers are the next internet of apps on the Ethereum network. Their work may be the foundation of all future transactions, says Joseph Lubin, the billionaire Ethereum co-founder behind the incubator Consensys. Cheddar went behind the scenes with Lubin to see how the future of the internet is being built on blockchain technology.
Teens whose families earn $30,000 or less a year are more likely to rely on Facebook for homework help than their wealthier peers, according to Pew Research Center study. This shows how students who may have less access to resources, "use Facebook to kind of get ahead," says Hanna Kozlowska, a reporter at Quartz.
Jessica Rolph, the co-founder and CEO of Lovevery, a subscription service for children's toys and books, says her company was borne out of her wish "meet my child where they were." The subscription service sends boxes every other month with age-appropriate items to help new parents and their babies get through those early, clumsy years.
The SEC has subpoenaed Tesla over CEO Elon Musk's tweets to take the company private, according to multiple media reports. John Reed Stark, President of John Reed Stark Consulting, and a former SEC enforcement attorney told Cheddar that there’s not enough information at this point to tell whether or not Musk intended to drive up the stock price by tweeting last week that he wanted to take Tesla private.
WOW! ー Wide Open West ー is a video, internet, and phone company that is a "challenger brand for every market," says the CEO Teresa Elder. Available in about 20 markets in the American South and Midwest, WOW! recently announced a content deal with Cheddar.
