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 problem with regulating Facebook is that the social media network operates in over 190 countries in a multitude of languages. On top of that "governments themselves are abusing it," making it an extremely complex company to rein in, says David Kirkpatrick, author of "The Facebook Effect: The Inside Story of the Company That is Connecting the World."
President Trump's proposed tariffs on Chinese imports and Facebook's privacy scandal both weighed down markets Thursday, said Daniel Ives, Chief Strategy Officer at GBH Insights. The Dow ended the day more than 700 points lower.
On Wednesday night, the Facebook CEO sat down with four media outlets to discuss the Cambridge Analytica scandal that has engulfed the company for the past week. While he hit the right tone and talking points, he didn't really address most users' concerns, says Ina Fried, Chief Technology Correspondent at Axios.
Many know Roku for its hardware. But it's focusing on content distribution and streaming, and CEO Anthony Wood says on that basis, it would be the third largest cable operator in the U.S.
Congressman John Garamendi (D-CA) told Cheddar he believes the Trump campaign was aware of the use of private data harvested off Facebook and is outraged the social media company sought to profit off the move. The company remains under fire amid a data scandal that unveiled private information of more than 50 million users to an analytics firm working for the Trump campaign.
Artists who are just putting out their first products turn to SoundCloud, whereas other platforms pick them up after they've built a bit of momentum. That gives the company its edge, says Kerry Trainor, CEO of the music streaming platform.
The way Facebook's CEO has handled the privacy scandal so far raises questions about his leadership ability. His age might be to blame, says Rasmus Houggard, author of "The Mind of the Leader."
Sarah Friar, Chief Financial Officer at the payment processing company, says omni-channel retail and the company's Cash App are major growth boosters.
The fallout from Facebook's latest data scandal continues to intensify. The Weinstein Co. officially files for bankruptcy protection after many attempts to sell the company failed. Josh Sternberg, tech editor for AdWeek, joins us to discusses how Uber moves forward after one of its driverless cars killed a pedestrian in Tempe, Arizona. And Bri Bauer from Dairy Queen brings ice cream cones to the trading floor to celebrate the company's National Cone Day. On the first day of spring, Dairy Queen gives customers free vanilla ice cream cones.
Slowing down test programs in "non-controlled environments" in these early stages of development will help regulation keep up, says Jason Levine, Executive Director of The Center for Auto Safety.
