FIT - Fitbit, Inc.

NYSE - Nasdaq Real Time Price. Currency in USD
6.74
-0.03 (-0.44%)
At close: 4:03PM EST
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Previous Close6.77
Open6.82
Bid6.70 x 2200
Ask6.74 x 36900
Day's Range6.71 - 6.83
52 Week Range2.81 - 7.26
Volume7518491
Avg. Volume15,270,755
Market Cap1.8B
Beta (3Y Monthly)1.76
PE Ratio (TTM)N/A
EPS (TTM)-0.73
Earnings DateFeb 25, 2020 - Mar 2, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target Est7.35
  • Facebook competed against Google to acquire Fitbit: report
    Yahoo Finance Video

    Facebook competed against Google to acquire Fitbit: report

    When Google bought Fitbit they were engaged in a bidding war with a secret company for the health tracker. It turns out that Facebook was the opposing company bidding against Google to acquire Fitbit, according to a CNBC report. Tech editor Dan Howley breaks it all down.

  • Fitbit pops on SEC filing revealing a bidding war
    Yahoo Finance Video

    Fitbit pops on SEC filing revealing a bidding war

    An SEC filing revealed a bidding war between Google and a mystery company for FitBit. CNBC reports that bidder was Facebook. Yahoo Finance's Dan Howley joins Akiko Fujita on The Ticker to discuss.

  • Will sale to Google cause consumers to ditch Fitbit?
    Yahoo Finance Video

    Will sale to Google cause consumers to ditch Fitbit?

    A new report from CNBC says some Fitbit users are ditching the wearable after its sale to the tech giant because they simply don't trust Google.

  • Why Is Fitbit (FIT) Down 3% Since Last Earnings Report?
    Zacks

    Why Is Fitbit (FIT) Down 3% Since Last Earnings Report?

    Fitbit (FIT) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.

  • Mark Zuckerberg Isn’t Always a Colorless Automaton
    Bloomberg

    Mark Zuckerberg Isn’t Always a Colorless Automaton

    (Bloomberg Opinion) -- I now have low expectations when Mark Zuckerberg writes a manifesto, gives a speech, grants media interviews or fields questions from lawmakers.In these settings, and particularly on questions about how the world should or does work, Facebook Inc.’s chief executive officer can seem over-rehearsed, scarily superficial, cravenly political, evasive — or all of the above. But in less-scripted moments, or when the world isn’t watching, Zuckerberg is often clear-eyed about where the internet is going and articulate about Facebook’s strategy. Fifteen years after Zuckerberg started Facebook in his college dorm room — maybe you’ve heard that story before? — that scary-smart version of Zuckerberg remains the internet executive I want to hear from the most. Don’t believe me?Check out the transcript the Verge published in October of two meetings between Zuckerberg and employees. Most of the attention focused on his forceful push back to Elizabeth Warren and others who want to break up Facebook. But I was more interested in Zuckerberg’s astute explanation of how TikTok, the short-video app from China’s Bytedance Inc., is a distilled, video-focused version of Instagram’s “explore” section. He is not wrong.With those employees, Zuckerberg also talked in more nuanced ways than he has in public about the novelty of a Chinese internet app gaining traction outside its home country, how Facebook was trying to copy elements of TikTok and why TikTok was vulnerable. This was the opposite of the thousand-yard-stare Zuckerberg the public sees in media interviews. This was Zuckerberg in his element as a skilled and confident internet diagnostician and tactician.That Zuckerberg may not be the likable Everyman who pets a calf, but I wish we got to see more of him. Repeatedly in Facebook’s quarterly earnings calls over the years, Zuckerberg has given moments of insight that distill Facebook’s playbook or explain what trends such as online video, the Snapchat app and the Pokemon Go mobile game show about the future of technology.You get a likewise incisive, perhaps cutthroat, version of Zuckerberg from reading Facebook internal emails that come out in occasional lawsuits or investigations. Those glimpses are of a ruthless and savvy executive trying to undermine rivals and devise partnerships that would make people more loyal to Facebook. You might read those selective disclosures and feel Zuckerberg is unethical and selling out people who use Facebook. You might be right. But he is also astute about what works on the internet and how to position Facebook for success.And if Facebook was the mystery bidder for wearable gadget company Fitbit Inc., Zuckerberg refused to get involved in a conventional corporate acquisition process and basically nagged Fitbit’s CEO to make a deal on his terms. It was kooky, and the CEO of the unidentified suitor seemed like a loose cannon, at least in the one-sided telling of this Fitbit securities document. It’s also true that Zuckerberg’s personal involvement and unconventional personal persuasion helped Facebook acquire Instagram, which likely added more value to Facebook than anything else the company did this decade. Look, even the savvy tactician Zuckerberg can be horribly wrong. He brushed off the effects of misinformation spreading on Facebook around the 2016 U.S. presidential election. He plunged his company rashly into live video, a feature that is rife with risks and one that has not taken over the internet as Zuckerberg once predicted.Maybe Zuckerberg is just like the rest of us. When he’s talking out of the glare of shouting members of Congress and engaging on topics he feels confident about, he’s like a different person. Today, though, more is expected. Leaders — particularly those like Zuckerberg whose products are so widely used and influential — are expected to be capable of thinking deeply about problems in the world, not only to devise clever product and business strategies.The people who lead large companies must play many roles: diplomat, policy maker, motivational captain of their employees and an assuring public face to customers. It’s a nearly impossible assignment, but that doesn’t mean we should lower the bar for these executives. A version of this column originally appeared in Bloomberg’s Fully Charged technology newsletter. You can sign up here.To contact the author of this story: Shira Ovide at sovide@bloomberg.netTo contact the editor responsible for this story: Daniel Niemi at dniemi1@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Shira Ovide is a Bloomberg Opinion columnist covering technology. She previously was a reporter for the Wall Street Journal.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.

  • Google Facing New Front With U.K. Probe Into $2.6 Billion Deal
    Bloomberg

    Google Facing New Front With U.K. Probe Into $2.6 Billion Deal

    (Bloomberg) -- Google is facing a U.K. investigation into its $2.6 billion takeover of data company Looker Data Sciences Inc., opening up another front in the Alphabet Inc. unit’s ongoing battle with lawmakers.The Competition and Markets Authority on Thursday said that it issued an initial enforcement order, which prevents companies from integrating their services while the regulator carries out a early-stage review of the acquisition. The CMA has asked for comments on the deal by Dec. 20 before it decides whether to begin a formal probe.Google announced in June that it planned to buy U.S.-based Looker for its cloud unit, which lags far behind Amazon.com Inc. and Microsoft Corp. with just 4% of the cloud-computing infrastructure market as of 2018, according to the most-recent figures from analyst Gartner Inc. U.S. regulators cleared the deal in November.The U.K. review -- likely to focus on how Google plans to wield its power over data -- comes as Margrethe Vestager, the European Union’s Competition Commissioner, leads the charge into looking into how companies collect and use information. In August, she called tech giants “robot vacuum cleaners” sucking up valuable data in a way that can undermine competition.Vestager is currently investigating “the data business model” used by Google and others to collect information on how people use the web. She said the EU has posed “many questions to Google and others to get their views” and help the EU understand how the industry works, with a focus on contractual terms.Google agreed to buy smartwatch maker Fitbit Inc. for $2.1 billion. The tie-up, announced in October, has come under scrutiny from U.S. lawmakers.Though Google isn’t a leader in smartwatches or fitness trackers, regulators in the U.S. and elsewhere will likely have questions about what Google intends to do with the data Fitbit users have shared over the years, including intimate health and location information.\--With assistance from Jonathan Browning.To contact the reporter on this story: Giles Turner in London at gturner35@bloomberg.netTo contact the editors responsible for this story: Giles Turner at gturner35@bloomberg.net, Peter Chapman, Nate LanxonFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • 3 Large-Cap Tech Stocks to Buy for December
    Zacks

    3 Large-Cap Tech Stocks to Buy for December

    Welcome to the latest episode of the Full-Court Finance podcast from Zacks Investment Research where Associate Stock Strategist Ben Rains takes a look at 3 large-cap tech stocks that investors might want to buy for December...

  • Cyber Monday vs Black Friday: ETFs & Stocks in Focus
    Zacks

    Cyber Monday vs Black Friday: ETFs & Stocks in Focus

    Cyber Monday is gradually gaining more attention from bargain hunters than Black Friday. These ETFs and stocks could be great picks in this regard.

  • TheStreet.com

    Making Sausage: How the Fitbit Deal Got Done

    A document filed with the SEC reveals the behind-the-scenes competition between Alphabet and another suitor for the hand of the smartwatch maker.

  • TheStreet.com

    [video]Facebook's Unsuccessful Bid for Fitbit Highlights Struggles in Hardware

    This week, we learned about an intriguing tech deal that wasn't: A failed bid by Facebook to buy Fitbit. In a recent SEC filing, Fitbit reported that a company called Party A had offered $7.30 per share for Fitbit -- but was ultimately bested by Google, which offered $7.35 per share, or $2.1 billion, for the wearables firm. Facebook shares closed 0.41% lower on Tuesday to $198.97, while Alphabet ticked up 0.56% to $1,313.00.

  • Peloton Stock Climbs Out of Slump: Can PTON Fix the Holes in Its Business?
    Zacks

    Peloton Stock Climbs Out of Slump: Can PTON Fix the Holes in Its Business?

    Peloton (PTON) stock has climbed out of the hole it found itself in shortly after its IPO in late September.

  • Report: Facebook entered into bidding war with Google for Fitbit
    American City Business Journals

    Report: Facebook entered into bidding war with Google for Fitbit

    The CEO of a mystery company "emailed James Park, our chief executive officer, to request that they have dinner," Fitbit said.

  • TheStreet.com

    [video]Fitbit Up on Revelation of Counter-Bidder to Google, Report Says It Was Facebook

    Shares of Fitbit pick up the pace after a proxy filing reveals a surprise bidding war between Google and a mystery firm that may have pressured Google parent company Alphabet to move forward with its $2.1 billion all-cash offer.

  • Why Alphabet Stock Can Keep Rolling Higher Now
    InvestorPlace

    Why Alphabet Stock Can Keep Rolling Higher Now

    Last week, Alphabet (NASDAQ:GOOG) (NASDAQ:GOOGL) stock finally made new all-time highs. This hasn't come easy and it did it under the radar without much fanfare. Critics of Alphabet stock have had this stigma against it for a while. But now that it has some clean air ahead there should be more upside to come. After all, Google still trails the S&P 500 this year.Source: Benny Marty / Shutterstock.com Fundamentally, Alphabet stock is not expensive but it has some froth it could shed under the right circumstances. So it won't a straight shot to the moon, especially if markets correct. GOOGL sells at a price-to-earnings ratio of 28 and 6.5X sales.But given the momentum it has, it would take a lot to press sell buttons against GOOGL stock for too long. This is a valuable company that has a monster advertising cash cow. GOOGL dominates in search, especially in mobile, and that's where the whole world is moving to. So it has a good grasp of where it has a sustainable advantage that it could use to further better its prospects.InvestorPlace - Stock Market News, Stock Advice & Trading Tips Google Is Not a One Trick PonyAs always, Alphabet continues to pursue forays into other venues, and three stick out as having excellent potential at becoming significant contributors to the company's bottom line. First, there is their self-driving subsidiary Waymo. They've made tremendous progress there and they have a legitimate shot at dominating the field once the regulations catch up with the technologies. * 7 Strong Buy Stocks That Are Bargains Right Now Then there are the healthcare and banking sectors. GOOGL has recently announced their acquisition of Fitbit (NYSE:FIT). This gives them an entry point into the medical field. With Fitbit data they now can expand their knowledge of their clients so much further and on a personal level they can offer even more services along those lines.Then, most recently, Alphabet announced its partnership with Citigroup to offer checking accounts as early as next year. This is their follow up to the Google Wallet app, where users can store their credit card information on file for ease of use. Clearly this is a company that is thinking outside of the box and it has the cash and expertise to execute on these plans and more. Alphabet Stock Has Help From the ChartsTechnically, Alphabet stock has a peculiar setup going into year-end. It has recently set a new high just above the resistance levels from April and July of last year. Essentially, this is Google stock bulls' third attempt at breaking out from this range. And now that they have, their job is to hold this neckline as forward support so they can extend this rally to its fullest potential.If this market continues to grind higher, then GOOGL stock should overshoot another 10% higher. It is not inconceivable that GOOGL stock could reach $1,500 per share if unobstructed by extraneous headlines. While this is not a guaranteed result, the buyers have the reins, so the sellers are unable to sustain the selling pressure to foil the rally. This means that investors will buy the dips in GOOGL. Click to Enlarge Source: Charts by TradingView So this roof now has the potential to become forward support. This is not one fine line, but it is a zone of resistance and GOOGL is entering a big void. Now that they crossed into it, it is much easier to advance through it with little resistance. So for those long Alphabet stock, these dips in a bullish overall market are not a reason to leave the stock. * 10 Lithium Stocks to Buy Despite the Market's Irrationality For those looking to get long and profit from a rally, they can start building a tactical position on dips. The fact is that equity buyers are in charge, and Wall Street sentiment is the exact opposite of what it was this time last year. So the bears are at a disadvantage and they will need a new set of negative headlines to break this positive momentum. Rehashes of the same old headlines of hiccups in the tariff war will not do. This is old news and it's already baked into the stock market.The bottom line is that Alphabet stock has the momentum to add another 10% of gains in this bullish equity market. Moreover and longer term, if the markets are higher, then so is Google stock.Nicolas Chahine is the managing director of SellSpreads.com. As of this writing, he did not hold a position in any of the aforementioned securities. Join his live chat room for free here. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Sickly Healthcare Stocks to Avoid * 5 Lottery Stocks With Huge Upside -- And a Real Chance of $0 * 7 Top Stocks to Buy for 2020 The post Why Alphabet Stock Can Keep Rolling Higher Now appeared first on InvestorPlace.

  • ACCESSWIRE

    SHAREHOLDER INVESTIGATION ALERT: Halper Sadeh LLP Investigates Whether the Sale of these Companies is Fair to Shareholders - CARO, FIT, FOMX

    NEW YORK, NY / ACCESSWIRE / November 25, 2019 / Halper Sadeh LLP, a global investor rights law firm, continues to investigate the following companies: Carolina Financial Corporation (NASDAQ:CARO) The investigation ...

  • Barrons.com

    Callon, Fitbit, Genco Shipping and Other 13D Filings

    Paulson & Co. disclosed on Nov. 18 an interest in the independent oil-and-gas explorer of 10,338,663 shares, less than half of what Paulson reported on Nov. 5 when it revealed a 9.5% stake. Since the prior disclosure, Paulson shed nearly 52% of its position with sales of 11,254,860 shares at prices ranging from $4.29 to $4.57 each on Nov. 14 and 15, leaving it with a 4.5% interest in Callon’s outstanding stock. Paulson previously stated that it would vote its shares against Callon’s proposed $1.2 billion merger with Carrizo Oil & Gas (CRZO) first announced in July.

  • 3 Dividend-Paying Tech Stocks to Buy Right Now on Growth Opportunities
    Zacks

    3 Dividend-Paying Tech Stocks to Buy Right Now on Growth Opportunities

    Despite the U.S.-China trade setback, stocks could still climb in 2019 and beyond, and the tech industry remains a key growth driver. Therefore, we searched for tech companies with our Zacks Stock Screener that also pay a dividend...

  • Bank donates more than $400K to Dayton-area causes
    American City Business Journals

    Bank donates more than $400K to Dayton-area causes

    Two Dayton-area nonprofits and local philanthropic initiatives received more than $400,000 in new funding.

  • The Zacks Analyst Blog Highlights: Google, Fitbit, Apple, Facebook and Amazon
    Zacks

    The Zacks Analyst Blog Highlights: Google, Fitbit, Apple, Facebook and Amazon

    The Zacks Analyst Blog Highlights: Google, Fitbit, Apple, Facebook and Amazon

  • Google Makes Another Cloud Acquisition During Antitrust Probe
    Bloomberg

    Google Makes Another Cloud Acquisition During Antitrust Probe

    (Bloomberg) -- Google announced plans to buy enterprise software firm CloudSimple Inc., another sign the search giant isn’t letting a flurry of antitrust investigations interrupt its expansion strategy.CloudSimple will join Google Cloud, a priority business for the Alphabet Inc. unit. The companies didn’t disclose financial terms.The acquisition could help Google get a foothold in a corner of the cloud-computing market where larger rivals, Microsoft Corp. and Amazon.com Inc., have run ahead. CloudSimple builds tools that help companies move information, applications, databases and other systems from in-house data centers to the public cloud.The Santa Clara, California-based startup specializes in VMware virtualization software, which helps businesses run corporate networks and business software more efficiently. VMWare’s large enterprise customer base has made it an attractive partner for the leading public cloud providers, including Google.In a Google blog post announcing the deal, Ajay Patel, a VMware Inc. senior vice president, said his company will continue to work with CloudSimple.In recent months, U.S. regulators and Congress have opened multiple inquiries into Google over competition concerns, including the company’s history of acquisitions. Since those probes began, Google has announced multibillion-dollar takeovers of Looker Data Sciences Inc., a cloud company, and Fitbit Inc., a device-maker.Google has argued that it has a small market share in cloud computing, enterprise software and consumer devices. Antitrust officials cleared Google’s $2.6 billion bid for Looker in early November.To contact the reporters on this story: Mark Bergen in San Francisco at mbergen10@bloomberg.net;Nico Grant in San Francisco at ngrant20@bloomberg.netTo contact the editors responsible for this story: Jillian Ward at jward56@bloomberg.net, Alistair Barr, Andrew PollackFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Google + Fitbit + Antitrust Concerns
    Zacks

    Google + Fitbit + Antitrust Concerns

    Google + Fitbit + Antitrust Concerns

  • Benzinga

    How Google's Fitbit Acquisition Is Already Posing Some Problems

    Alphabet's Google unit said in November it will buy Fitbit in a $2.1 billion deal to gain better exposure to the health and wellness space. Concerns related to how Google handles health data is not unfounded and gained some credibility based on recent revelations.

  • Google Finds Its Deal Whisperers at Old-School Bank Lazard
    Bloomberg

    Google Finds Its Deal Whisperers at Old-School Bank Lazard

    (Bloomberg) -- It’s been an up-and-down few years for Lazard Ltd., the storied blue blood investment bank.Its share of deal advisory work worldwide is ranked at its lowest in almost two decades, falling behind rival Evercore Inc., Bloomberg data show. Top Lazard bankers such as Matthieu Pigasse and Antonio Weiss have left and a few offices closed.Yet amid the setbacks, Lazard, founded in the 1800s as a dry goods merchant, can count on a surprising and steady source of business: Google, the quintessential Silicon Valley firm. Over the last decade, Lazard has quietly become Google’s go-to adviser, bringing it the cachet -- though not big fees -- of working with one of the world’s largest companies.Lazard has represented the Alphabet Inc. unit on every takeover where it used an outside adviser -- a total of $22 billion in transactions over that period, from Motorola Mobility for $9.8 billion in 2011 to Fitbit Inc. for $2.1 billion this month. For its many smaller transactions, Google generally uses its in-house banking staff.That kind of relationship, while informal, is rare these days, especially in the cut-throat world of technology investment banking. Companies typically use a variety of banks when doing deals. The Google-Lazard tie-up -- put together almost a decade ago by one of its bankers, Vernon Jordan, the well-connected power broker -- is more reminiscent of the century-old banking relationship between General Electric and what is now JPMorgan Chase & Co. And like that one, it reflects in part personal relationships and a desire for discreetness.“This harkens back to the old line way of banking where corporations would have this kind of relationship with an institution for decades,” said Barbara Byrne, a former vice chairman at Barclays Plc and now a director at CBS Corp.Antitrust ScrutinyThe Google business alone won’t make or break Lazard, to be sure. The New York-based firm’s share of global M&A by deal value is just 4.3% this year, the lowest since 2001, according to data compiled by Bloomberg. That share has especially tumbled in recent years as rainmaker bankers such as Ken Moelis, Paul Taubman and Blair Effron founded their own boutique firms that compete on megadeals.Google transactions may have brought Lazard a mere $70 million in fees since 2011, according to an estimate by consultant Freeman & Co. In the third quarter alone, Lazard posted financial advisory revenue of $304 million.And Google’s acquisition activity may slow as antitrust scrutiny grows from federal, state and Congressional investigators looking into whether the company is using its size to hurt competitors.But the relationship with Google serves to burnish the firm’s reputation, and allows its bankers to play up the ties, such as when seeking business with emerging tech companies, a person familiar with the situation said.“There’s no banker in the world who wouldn’t want that relationship,” Byrne said. “They would jump hoops for it.”Google and Lazard declined to comment.On Lazard’s last earnings call, CEO Ken Jacobs said that its financial advisory activity had “gained momentum.” The firm has reshuffled leadership in recent months, promoting several bankers including naming Peter Orszag as the firm’s chief global dealmaker in April. (Orszag is a Bloomberg Opinion columnist.)Jordan’s RoleLazard won its role with Google thanks partly to Jordan, 84, who had been a friend and adviser to former President Bill Clinton. He started working for Lazard in 2000 as the ultimate door opener and now holds the title of senior managing director.His entrée to Google was through David Drummond, who joined the company in 2002 and is now its vice president of corporate development, people familiar with the matter said. Jordan delivered a speech to honor Drummond at a social justice gala last year where he called him a “good friend.”(A former Google employee who had a long-term relationship with Drummond alleged in August that she was forced out of the company after dating him. Drummond has acknowledged the relationship and said he has addressed it with Google.)‘Science Experiments’Google pays Lazard a retainer of more than $200,000 a month for its services, according to people familiar with the situation. While some other banks have retainers with clients, Lazard’s is notable for its duration, going back years.Lazard plays a variety of roles for Google. Often it acts as a consultant, such as a McKinsey would, researching industries and exploring potential takeover targets, according to people familiar with the matter. A former Lazard employee described the work as doing “science experiments” for Google.They sometimes lead to being hired for traditional M&A advice, or coming in only for late-stage negotiations after Google employees handled the earlier talks.In the Fitbit acquisition, Lazard initially prepared a study on the smartwatch market, which laid the groundwork for Google to buy some of watchmaker Fossil Group Inc.’s technology earlier this year. That, in turn, led to Google hiring Lazard for the Fitbit purchase.Deep PocketsGoogle doesn’t typically require the array of services, notably takeover financing, offered by bulge bracket firms like Goldman Sachs or JPMorgan. The company has deep pockets to pay for a transaction itself. That’s why it made sense to turn to a firm that focuses more heavily on M&A.Google also trusts Lazard to keep potential takeovers close to the vest, people familiar with the arrangement said, even viewing some of the Lazard bankers as if they were embedded in the corporate development group.Paul Haigney, the longtime Lazard banker who, with John Gnuse, handles the day-to-day Google relationship, is described by people who know him as an old-school banker, meaning in part that he doesn’t like meeting or gossiping with the press -- a much-prized trait at the typically secretive Google.In the Fitbit acquisition, Lazard’s role was handled in a typical low-profile way. A release announcing it omitted the bank’s name, listing only Fitbit’s financial adviser, Qatalyst.“Banking relationships at the CEO and board level are extremely personal and not institutional,” said Stefan Selig, managing partner at BridgePark Advisors, whose clients include CEOs and wealthy investors. “Those relationships tend to be sticky if the bankers and management teams don’t change and if the client is happy with the service.”To contact the reporters on this story: Liana Baker in New York at lbaker75@bloomberg.net;Gerrit De Vynck in New York at gdevynck@bloomberg.net;Sonali Basak in New York at sbasak7@bloomberg.netTo contact the editors responsible for this story: Jacqueline Simmons at jackiem@bloomberg.net, Larry Reibstein, Michael HythaFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.