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.
The hedge fund is investing $500 million in blockchain technology, focusing on converting traditional paper equity into tokens, a move that could help regulators, says Anthony Pompliano, a partner at Morgan Creek Blockchain Capital.
A deadly school shooting in Texas, and Elon Musk's plans for LA traffic. Plus the CIA gets its first female director, a one-time, online-only bedding store goes brick-and-mortar, and we get ready for the Royal Wedding.
Musk, the head of Tesla and SpaceX, shared details Thursday of his Boring Co.'s plans to help alleviate Los Angeles's notorious traffic problem. He said an underground tunnel would shuttle "pods" of up to 16 people at a time at speeds of 150 miles an hour for just $1 per ride. But the plan faces resistance from some residents who want a full environmental review.
The online learning platform had its Nasdaq debut Thursday, when the stock opened at $20, or 33 percent above its IPO price. Enthusiasm for the online education platform is driven by a rapidly increasing skills gap in the job market, which Pluralsight aims to narrow, says the company's CEO Aaron Skonnard.
After all Senate Democrats voted in favor of keeping the internet open and fair, the party is using this opportunity to paint itself as a champion of the consumer going into the midterm elections later this year, says Ross Rubin, principal analyst at Reticle Research.
Google's video streaming platform is jumping into the music space with personalized playlists, a new, dedicated app and desktop player, and song downloads.
The affordable TV streaming service is testing out new features that will "make TV a much more social experience," says CEO Andrew McCollum.
Senators voted Wednesday to override the FCC's repeal of net neutrality rules, keeping the internet free and open...for now. The resolution now heads to the House, where it is still 57 votes short of passing.
The Democrat from Rhode Island said doing away with the internet regulations would give large service providers too much power over the content that people see. The Senate on Wednesday voted to reinstate the Obama-era legislation, sending the bill to House, where it's expected to be shot down.
The social media company is using A.I. to make content on its site more accessible and connect people with disabilities to helpful communities.
"We are working on making it possible for essentially anybody to connect with anybody," says Matt King, an engineer at Facebook who lost his sight in college. He is also a three-time Paralympian and a record-breaking tandem cyclist.
Facebook's accessibility efforts are part of a wider commitment from tech companies, including Microsoft and Apple, to make their products easier to use.
