PlushCare, the leading virtual health platform will provide easy access to telemedicine services for Fitbit (NYSE: FIT) users amidst COVID-19. PlushCare's telemedicine services are available to Fitbit users starting today via the new COVID-19 resource tab in the Fitbit app.
Alphabet Inc-owned Google's planned $2.1 billion buy of fitness trackers company Fitbit may harm consumers and hinder innovation, European consumer group BEUC said on Wednesday, calling it a game-changer deal in the health and digital markets. Google announced the deal in November last year, a move which would allow it to take on Apple and Samsung in the crowded market for fitness trackers and smart watches. Critics however said the deal would give the U.S. tech giant access to a trove of health data gathered from Fitbit's fitness trackers and other devices used to monitor users' daily steps, calories burned and distance travelled.
One of the more interesting pieces of information that was revealed late Friday, was that wearables name Fitbit is attempting to get into the ventilator market. The company will reportedly submit its technology for lower-cost ventilators to the FDA under the Emergency Use Authorization. FIT has certainly been off the radar for many months, following the November announcement of a deal with Alphabet to acquire the company for $2.1 billion or $7.35/share.
Fitbit (FIT) reports weak first-quarter results, with both earnings and revenues missing the Zacks Consensus Estimate.
The hardware to detect irregular beats is present in FitBit's devices, but is not available to consumers. Device users who enroll in the study will be allowed to test it in order for Fitbit to seek regulatory review. Fitbit, which is being acquired by Google-parent Alphabet Inc, said in October that it planned to develop https://www.reuters.com/article/us-fitbit-health/fitbit-in-healthcare-partnership-to-take-on-apple-watch-idUSKBN1WW263 a method to detect irregular heartbeats that would match the feature available on rival Apple Inc's Watch.
Fitbit (NYSE: FIT) today launched the Fitbit Heart Study, its first large-scale, virtual study to validate the use of its wearable technology to identify episodes of irregular heart rhythm suggestive of atrial fibrillation (AFib), the most common form of heart rhythm irregularity. This study is part of the Company’s broader strategy to make easy-to-use tools that accelerate detection of a range of conditions more accessible. The Fitbit Heart Study aims to enroll hundreds of thousands of people, and its results will support the Company’s regulatory submissions globally.
Looking to lose weight or stay in shape while stuck in your house? These at-home workout apps can help.
The coronavirus outbreak has led people across the country to follow stay-at-home orders. Yahoo Finance’s Tech Editor Dan Howley shares the best fitness apps to utilize during quarantine.
Fitbit (NYSE: FIT), the leading global wearables brand, today announced that it expects to release results for its first quarter 2020 on Wednesday, May 6, after market close. Due to the pending merger with Google, Fitbit does not plan to host an earnings conference call.
It's been over six months since Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) proposed its $2.1 billion acquisition of wearables maker Fitbit (NYSE: FIT). The deal has attracted criticism and underscored ongoing antitrust scrutiny of large powerful tech companies. Earlier this year, the European Data Protection Board (EDPB) argued that the acquisition would represent "a high level of risk" to consumer data.
Fitbit's activity-tracking wearable devices are already being used by a number of academic institutions to determine if they might be able to contribute to the early detection of COVID-19 and the flu, and now Fitbit itself is launching its own dedicated Fitbit COVID-19 Study, which users can sign up for from within their Fitbit mobile app. In order to gather the data needed to see if they can do this, Fitbit is asking users in either the U.S. or Canada who have either had or currently have a confirmed case of COVID-19, or flu-like symptoms that might be an indicator of an undiagnosed case, to answer some questions in order to contribute to its research. Early detection could also have advantages in terms of treatment, allowing health practitioners to intervene earlier and potentially prevent the worst of the symptoms of the infection.
The BEUC argued by acquiring Fitbit, Google will have an "unparalleled position" in a bevy of markets.
Fitbit (FIT) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Fitbit (FIT) delivered earnings and revenue surprises of -9.09% and -30.31%, respectively, for the quarter ended March 2020. Do the numbers hold clues to what lies ahead for the stock?
Fitbit (NYSE: FIT) is collaborating with The Scripps Research Institute and Stanford Medicine on groundbreaking research aimed at using Fitbit data to help detect, track and contain infectious diseases like COVID-19. This new research consortium invites other institutions to join in this collective effort and share key learnings with the research community. Early detection is critical for effective public health response to infectious disease outbreaks. There already has been early evidence that wearables, like Fitbit devices, have the potential to help predict the onset of an infectious disease like the flu before symptoms start, and the goal of this consortium is to unlock similar potential via leading research institutions in response to COVID-19.
Despite the coronavirus impact, Lyft's (LYFT) top line grew 23% in Q1 on arise in Active Riders and Revenue per Active Rider.
"I have been following Dr. Inan Dogan since this outbreak, and he is a phenomenally intelligent researcher. One month ago, Dr. Dogan's prediction that the total U.S. death toll would be 20,000+ by April 15th was deemed "radical". His Recession is Imminent article in February was very timely. Now he believes we could quickly end […]
Fitbit (FIT) unveils Charge 4, which expands its family of Charge devices and enhances product offerings.
Investors who owned stocks in the 2010s generally experienced some big gains. In fact, the SPDR S&P 500 (NYSE: SPY) total return for the decade was 250.5%. But there's no question some big-name stocks did much better than others along the way.Fitbit's Difficult DecadeOne market laggard of the last decade was Fitbit Inc (NYSE: FIT).Fitbit was founded in 2007 and made the move to go public in June 2015. Fitbit was one of the highest-profile IPOs of the 2010s, launching with a $4.1 billion market valuation.Unfortunately, investors expecting Fitbit to burst out of the gates as the next red-hot tech stock were sorely disappointed. Shares plummeted on concerns about rising competition from deep-pocketed Apple Inc. (NASDAQ: AAPL) and other fitness tracker leaders. That same Fitbit committed to transitioning its business model from a consumer electronics company to a digital health care company.After selling IPO shares at $20, Fitbit shares hit their all-time high within weeks of hitting the market, soaring up to $51.90 during the frenzy surrounding its IPO. By early 2016, Fitbit shares were back below their $20 IPO price and they have never traded that high since.Fitbit shares finished 2016 down a whopping 75% after heavy investments and a new series of products failed to drive growth for the company. Fitbit stock dropped below $10 by the end of 2016.See Also: Here's How Much Investing ,000 In Amazon's IPO Would Be Worth Today 2020 And BeyondFitbit hit its all-time low of $2.81 in 2019 before news of a buyout by Alphabet, Inc. (NASDAQ: GOOG) (NASDAQ: GOOGL) sent the stock back up near its proposed $7.35 buyout price.Unfortunately, the stock has since slumped back to around $6.50 on concerns Alphabet could terminate the deal due to the economic shutdown.So today, $1,000 worth of Fitbit IPO stock in 2015 would only be worth about $323.If the Alphabet buyout closes, the $7.35 buyout price suggests about 13.7% upside from current levels. If not, history suggests the stock could be headed significantly lower.See more from Benzinga * Q1 13F Roundup: How Buffett, Einhorn, Ackman And Others Adjusted Their Portfolios * 11 Reasons Billionaire Investor Leon Cooperman Is Worried About Long-Term Impacts Of COVID-19 * Warren Buffett Says There's No Bubble In FANG Stocks, But He's Still Not Buying(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Fitbit, Inc. (NYSE:FIT) today reported revenue of $188 million, GAAP net income per share of $0.07, non-GAAP net loss per share of $(0.24), GAAP net income of $20 million, non-GAAP net loss of $(65) million, cash flow from operations of $(82) million, and non-GAAP free cash flow of $(86) million for its first quarter of 2020.