4.3100 -0.07 (-1.60%)
After hours: 4:26PM EDT
|Bid||4.3100 x 21500|
|Ask||4.3500 x 4000|
|Day's Range||4.0500 - 4.4500|
|52 Week Range||2.8100 - 6.9600|
|Beta (3Y Monthly)||0.76|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Fitbit is looking to take on Apple by expanding into the health care space. It's teaming up with the Bristol-Myers Squibb-Pfizer Alliance to help users with a particular heart condition. Yahoo Finance’s Brian Sozzi, Alexis Christoforous and Dan Howley discuss on The First Trade.
Yahoo Finance's Melody Hahm sits down with Fitbit CEO James Park at the TechCrunch Disrupt conference in San Francisco.
The broader markets were subdued today. However, tech stocks Datadog (DDOG), Roku (ROKU) and Fitbit (FIT) gained significantly. Here's why.
Fitbit has been pushing deeper into the healthcare space and in August tied up with the Singapore government to provide fitness trackers and services in a health program that the company said could reach up to one million users. Under Thursday's deal, the company's devices will carry software that will help detect atrial fibrillation - the most common type of irregular heartbeat - after approval from the U.S. Food and Drug Administration.
Fitbit Inc. shares are up 3.7% in premarket trading Thursday after the company announced a partnership with the Bristol-Myers Squibb-Pfizer Alliance focused on the detection of atrial fibrillation using Fitbit devices. As atrial fibrillation is a risk factor for stroke, the goal is to use technology to help patients detect this form of irregular heartbeat early on. Bristol-Myers Squibb Co. shares are up 0.4% premarket, while Pfizer Inc. shares are up 0.1%. Fitbit's stock has dropped 15% over the past three months as the S&P 500 has gained 0.2%.
Fitbit is teaming up with Bristol-Myers Squibb and Pfizer in an effort to build out a new health care feature that could detect a heart condition in users.
The Trump administration’s trade policies have finally gotten to Fitbit Inc (NYSE: FIT ). The company announced Wednesday that it would shift certain product manufacturing from China to another market ...
Check out these three cloud-focused SaaS stocks we found using our Zacks Stock Screener for tech investors to consider buying in the fourth quarter of 2019...
(Bloomberg) -- Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here. Two American consumer electronics companies said this week that they’re looking to shift manufacturing away from China and into other countries, citing pressures from import tariffs on their products amid the trade war.Fitbit Inc. said on Wednesday that it would stop Chinese manufacturing of its health trackers and smartwatches by January. Tile Inc. said it’s also considering plans to make its Bluetooth-enabled location trackers in other countries, after the company was hit with tariffs last month.“The biggest challenge for a company like Tile is our ability to plan for shifting changes in U.S. policy toward China,” said Chief Executive Officer CJ Prober. “With recent impacts, we are looking at other regions.”Tile on Tuesday added a new sticker to its lineup of tracking devices that help customers keep tabs on keys, wallets and the like, and raised $45 million in funding in its last round of funding earlier this year. The gadget maker does the majority of its manufacturing in China, but as the U.S.-China trade war has escalated, it’s now considering Mexico, Malaysia, Vietnam and “possibly the U.S.” as future manufacturing hubs, Prober said.“We are re-evaluating our entire supply chain and how we do what and where,” he said, adding that in recent weeks, Tile had dedicated an “entire team” to the task of traveling to different cities and evaluating manufacturing facilities. In a sign of concern from investors about the potential costs of relocating these operations, shares of San Francisco-based Fitbit fell as much as 2% Wednesday after announcing the move from China.Several U.S. companies, long accustomed to using China as a manufacturing base, are now looking to reduce their exposure to the country. Last year, GoPro Inc. announced it would move much of its U.S.-bound camera production out of China to avoid potential tariffs, and has largely accomplished that goal, according to a spokesman. In August, HP Inc.’s laptop maker Inventec Corp. said it will shift production of notebooks for the U.S. market away from China. Apple Inc. has been doing battle with the White House over requests to get the iPhone and other products off the list of Chinese-made goods slated to be hit with tariffs on Dec. 15.The latest $300 billion round of duties will impact essentially all remaining Chinese imports—with some exceptions, though details around which imports will be exempted are still unclear. Trade policy between the world’s two largest economies is still in flux. Chinese Vice Premier Liu He is set to visit the U.S. this week for further trade talks.“We are supportive of the overall policy” of the U.S. in its negotiations with China, Tile’s Prober said. But “what’s been challenging is the implementation of that policy.” The company “only got a few weeks’ notice” that its products would be subject to new tariffs before they went into effect in September, he said. (Updates with Fitbit news in the second paragraph.)To contact the author of this story: Candy Cheng in San Francisco at firstname.lastname@example.orgTo contact the editor responsible for this story: Anne VanderMey at email@example.com, Mark MilianFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
The company said it began exploring alternatives to China in 2018 as Washington and Beijing engaged in a tit-for-tat tariff war that has upended global supply lines and roiled financial markets. Fitbit in June joined a group of U.S. companies in filing letters of opposition to President Donald Trump's plan for more U.S. tariffs on Chinese goods. Fitbit's smart watches, along with Apple Inc's AAPL.O AirPods, Apple Watch and HomePod, smart speakers from Amazon.com Inc and Alphabet Inc's Google , failed to win a reprieve from the 10% U.S. tariff that started from Sept. 1.
(Bloomberg) -- Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here. Fitbit Inc. said it’s shifting manufacturing operations out of China for all of its health trackers and smartwatches to avoid U.S. tariffs on imports from the country.Starting in January, the company expects those products won’t be of Chinese origin and therefore not subject to import duties, Fitbit said in a statement Wednesday. Fitbit said it will give more details on the financial implications of the move during its third-quarter earnings conference call.Shares in San Francisco-based Fitbit fell 2% at 11:35 a.m. in New York, leaving them down 27% this year.Fitbit joins other U.S. companies moving out of China amid an ongoing trade war between the two countries. Tile Inc., which makes Bluetooth-enabled location trackers, also said it’s considering a similar move and is looking at Mexico, Malaysia, Vietnam and “possibly the U.S.” as future manufacturing hubs. Last year, GoPro Inc. announced it would move much of its U.S.-bound camera production out of China. And Apple Inc. has been battling the White House over requests to get the iPhone and other products off the list of Chinese-made goods slated to be hit with tariffs on Dec. 15.“This is a great example of companies making proactive decisions to mitigate tariff related-risk by, in this case, taking their entire supply chain out of China,” said Tom Forte, an analyst at D.A. Davidson. Others “may choose to follow suit as this trade war gets long and diffuse, and potentially escalates.” Davidson, who has a buy rating on Fitbit, said the stock market isn’t giving companies enough credit for their efforts to mitigate tariff-related risks. “I expect that as earnings season comes we’ll be hearing a lot more about this from companies.”Trade negotiators are heading to Washington for talks starting Thursday and China is open to reaching a partial trade deal with the U.S., an official with direct knowledge of the discussions said. The trade talks have failed to make serious headway since negotiations collapsed in early May.(Updates with shares in third paragraph; analyst quote in fifth paragraph.)To contact the reporters on this story: Molly Schuetz in New York at firstname.lastname@example.org;Kiley Roache in New York at email@example.comTo contact the editors responsible for this story: Jillian Ward at firstname.lastname@example.org, Robin AjelloFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Fitbit Inc. shares jumped 4% in premarket trade Wednesday, after the maker of wearables said it's diversifying its supply chain out of China to avoid U.S.-imposed tariffs. The company said it expects all of its trackers and smartwatches to be exempt from tariffs from January 2020. "In 2018, in response to the ongoing threat of tariffs, we began exploring potential alternatives to China," Chief Financial Officer Ron Kisling said in a statement. "As a result of these explorations, we have made changes to our supply chain and manufacturing operations and have additional changes underway." Shares have fallen 26% in 2019, while the S&P 500 has gained 15%.
Fitbit has had enough of the fallout from the trade war between the U.S. and China and as a result will move manufacturing operations outside of China for all of its trackers and smartwatches. Starting in January 2020, the products will no longer be of Chinese origin, and therefore not subject to Section 301 tariffs. "In 2018, in response to the ongoing threat of tariffs, we began exploring potential alternatives to China.
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Fitbit (FIT) is reportedly considering putting itself up for sale. It could attract acquisition interest from Google parent Alphabet (GOOGL).
Fitbit (NYSE:FIT) news for Monday about the company considering a sale of its business has FIT stock moving.Source: Faiz Zaki / Shutterstock.com According to recent reports, Fitbit is in talks with investment bank Qatalyst Partners about a possible sale. However, the company hasn't decided on a sale yet and it just seeking an advice on if it should look more into the possibility.Anonymous sources in the report claim that Qatalyst Partners has been pushing Fitbit toward such a plan. While these signs point toward the wearables company considering the action, it doesn't mean it will happen.InvestorPlace - Stock Market News, Stock Advice & Trading TipsThe idea behind this Fitbit news is that it would allow the company to be picked up by a larger tech company. Specifically, these reports make mention of Alphabet (NSDAQ:GOOG,GOOGL), which is Google's parent company, reports Reuters.The idea of Alphabet picking up Fitbit is an interesting one. Fitbit has had trouble dealing with larger rivals in the wearables market, like Apple (NASDAQ:AAPL). With the help of Alphabet, the company's devices may stand a better chance at reaching more customers. * 7 Worst Stocks in the S&P 500 in 2019 Fitbit and Google coming together isn't unheard of. Back in 2018, the two companies reached an agreement that connects the FIT wearable devices to medical records systems. It also switched over to Google's cloud services as well, reports USA Today.FIT stock was up 1% as of Monday afternoon, but is down 23% since the start of the year.As of this writing, William White did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Worst Stocks in the S&P 500 in 2019 * 7 Reasons to Own Intuit Stock -- The Unsung Hero of Fintech * Apple and 4 Other Tech Stocks on the Move The post Fitbit News: FIT Stock Moving on Sale Rumors appeared first on InvestorPlace.