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Fitbit latest news:
Fitbit's stock surges as Ionic 'enjoys distinctions' compared with Apple Watch 3
Shares of Fitbit Inc. surged 3% in morning trade Wednesday, with Stifel Nicolaus saying the fitness band maker's Ionic "enjoys distinctions" when compared with Apple Inc.'s new Apple Watch 3. "Key distinctions in head-to-head comparison with the Fitbit Ionic product are compatibility with non-iOS devices, longer battery life which supports sleep tracking (claimed 4 days vs. Series 3 watch at 18 hours) and a narrow advantage in price ($299 vs. $329)," analyst Jim Duffy wrote in a note to clients. "Longer battery life and sleep tracking functionality...are likely to be emphasized in Fitbit marketing messages supporting the Ionic during the holiday season." Fitbit's website says Ionic will ship in 2-to-3 weeks while Apple said Watch Series 3 will be available on Sept. 22. Fitbit's stock has run up 23.6% over the past three months but was still down 12% year to date, while Apple's stock has rallied 36.4% so far this year and the S&P 500 has gained 11.4%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Fitbit introduces its first smartwatch
It’s called Ionic.
What Happened in the Stock Market Today
On a mixed day for the overall market, Sprouts and Fitbit saw outsize moves.
Did Fitbit Steal a March on Apple’s Just-Announced Product Launch?
Fitbit takes aim at Apple with new smartwatch launch
(Reuters) - Wearable device maker Fitbit Inc on Monday launched its newest device, the Ionic smartwatch, with features ranging from fitness tracking to contactless payment, as it gears up to compete with rivals such as Apple Inc .
Better Buy: Fitbit Inc. vs Garmin Ltd.
Which of these wearable makers is the better long-term investment?
Aetna in talks with Apple to offer Apple Watch to its 23 million members: report
Apple Inc. and insurance company Aetna Inc. held talks late last week to bring Apple's fitness-tracking smartwatch to Aetna's 23 million members, according to a report from CNBC on Monday, citing unnamed sources. Shares of Aetna were up more than 2% during intraday trade on Monday, while Apple shares were up 1.5%. According to the report Aetna, which currently offers an Apple Watch to its 50,000 employees as part of a wellness program, is negotiating to offer free or discounted watches to members. For the first three months of the year the Apple Watch was the top-selling wearable tracker on the market, overtaking Fitbit Inc. . Shares of Fitbit were up about 2% on Monday as well. CNBC's report says Aetna's proposed timeline is for early next year. Shares of Aetna are up more than 25% in the year to date, while Apple shares are up more than 38%. By comparison, the S&P 500 index is up more than 10%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Is Fitbit Finally Coming Around?
BRIEF-Fitbit CEO says launch of smartwatch is on track and will be available for the holiday season - conf call
* CEO says launch of smartwatch is on track and will be
available for the holiday season - conf call
Further company coverage:
Fitbit shares rally as results top Wall Street view
Fitbit Inc. shares rallied in the extended session Wednesday after the fitness-tracking device maker posted better-than-anticipated results for the second quarter. Fitbit shares surged 10% to $5.60 after hours. The company reported a second-quarter loss of $58.2 million, or 25 cents a share, compared to net income of $6.3 million, or 3 cents a share, in the year-ago period. The adjusted loss was 8 cents a share. Revenue fell to $353.3 million from $586.5 million in the year-ago period. Analysts surveyed by FactSet had estimated a loss of 15 cents a share on revenue of $341.6 million. For the third quarter, Fitbit estimates an adjusted loss of 5 cents to 2 cents a share on revenue of $380 million to $400 million. Analysts expect a loss of 5 cents a share on revenue of $393.1 million.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Better Buy: Fitbit Inc. vs. Apple
A close look at two of the biggest names in wearables reveals two companies with a lot riding on their upcoming releases.
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