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 Need2Know for Wednesday, Aug. 15.
Saudi Arabia's interest in funding a buyout of Tesla shareholders is far from certain, said Maureen Farrell of the Wall Street Journal. But it's unclear, she told Cheddar, if the kingdom's sovereign wealth fund would have the capital to secure such a deal for the electric carmaker's CEO, Elon Musk.
As users disengage with social media, advertisers would be wise to shift their focus to mobile games, where consumers may be more receptive, says Adam Cohen-Aslatei, vice president of marketing at Jun Group. "People report being more focused, relaxed and more engaged in a mobile game as compared to people on social media," Cohen-Aslatei says.
Disabling location history on your phone isn't enough to stop Google from tracking your whereabouts, the Associated Press revealed. To ensure your location is not being saved, Wired magazine's Emily Dreyfuss tells you how to turn off "web and app activity" tracking in your Google account.
As students prepare to go back to school, Google introduces new ways for parents to monitor their children's screen time and use mobile devices as learning resources. LaToya Drake, a Google spokesperson and media outreach lead, discusses the company's new tools and what students and educators are searching for online as they return to the classroom.
An investor with a sizable short position in Tesla said Elon Musk's most recent statement on taking the company private "was almost a confession that he committed securities fraud." The investor, Will Chamberlain, is part of a class-action lawsuit alleging the Tesla CEO didn't have sufficient basis for saying he'd take the company private at $420 a share. Chamberlain's lawyer, Reed Kathrein, says it's "pretty clear funding was not secured" before Musk's original tweet announcing his intentions.
The internet's largest platform and distributor of GIFs helps brands carve out a relevant place in online conversations, says the Giphy COO Adam Leibsohn. The company's goal is to help brands such as Absolut Vodka and Dunkin' Donuts "entertain, not advertise," he says.
Without its own supplies of fossil fuels, it makes economic and environmental sense for Hawaii to develop its own renewable sources of energy, says Connie Lau, president and CEO of Hawaiian Electric Industries and chairman of Hawaiian Electric Company. To do so, the state can use its natural advantages in solar and wind, she says.
Hawaii aims to be completely reliant on renewable sources of energy by 2045, says Connie Lau, president and CEO of Hawaiian Electric Industries and chairman of Hawaiian Electric Company. To do so, she said the state can use its natural advantages in solar and wind.
"The market is going to be looking at Tesla more and more as a car company," says The Motley Fool's Jason Moser. "And if that's the case, they better get some earnings in very quickly or you could see that stock get shellacked here in the near term."
