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FIT

Fitbit

$3.70

-0.12 (-3.14%)

09:07
10/09/19
10/09
09:07
10/09/19
09:07

Fitbit plans to shift manufacturing operations outside China for all trackers

Fitbit announced that it has undertaken a plan to shift its manufacturing operations outside of China for effectively all of its trackers and smartwatches. As a result, starting in January 2020, the company expects those 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. As a result of these explorations, we have made changes to our supply chain and manufacturing operations and have additional changes underway," said Ron Kisling, CFO of Fitbit. "Based on these changes, we expect that effectively all trackers and smartwatches starting in January 2020 will not be of Chinese origin."

FIT Fitbit
$3.70

-0.12 (-3.14%)

08/01/19
SBSH
08/01/19
NO CHANGE
Target $2
SBSH
Sell
Fitbit price target lowered to $2 from $5 at Citi
Citi analyst Jim Suva lowered his price target for Fitbit to $2 from $5 saying the Q3 guidance miss "on all metrics" overshadowed the company's Q2 results. Fitbit's current tangible book value is $2.13, contends the analyst, who projects the tangible book value to be $2.02 in a year from now. His main concern with Fitbit continues to be that the company lacks a mass appeal smartwatch with full two-way texting functionality, such as the Apple Watch. He keeps a Sell rating on the shares.
08/28/19
CHLM
08/28/19
NO CHANGE
Target $7
CHLM
Buy
Craig-Hallum reiterates Buy on Fitbit after paid subscription service news
Fitbit's paid subscription service announced this morning leverages the company's user data into actionable guidance and coaching aimed at improving movement, sleep, and diet, Craig-Hallum analyst Alex Fuhrman tells investors in a research note. The company's the healthcare opportunities discussed for years potentially represent a path towards a return to consistent revenue growth and profitability, adds the analyst. He continues to believe Fitbit is in the midst of a "significant evolution" in strategy and reiterates a Buy rating on the shares with a $7 price target.
09/24/19
DADA
09/24/19
NO CHANGE
Target $5.75
DADA
Buy
Fitbit overall business much healthier than it appears, says DA Davidson
DA Davidson analyst Tom Forte kept his Buy rating and $5.75 price target on Fitbit, saying that a potential sale of the company as speculated by Reuters on Friday would unlock "significant shareholder value" and also allow it to operate without the scrutiny while it pivots to its "large" healthcare-related opportunity. The analyst notes that the stock has declined since its Q2 results and disappointing guidance in late July, but believes that the smartwatch sales decline of 27% in the quarter was driven by "one disappointing device". Forte adds that although Fitbit's smartwatch sales are contracting, the company's overall device sales grew 30.4%, which he sees as a "sign that the overall business is much healthier than reflected in its current share price."
09/25/19
WBLR
09/25/19
NO CHANGE
WBLR
Market Perform
Timing 'imperfect' for Fitbit to pursue sale, sayst William Blair
The timing is "imperfect" for Fitbit to pursue a sale in the near future and management should be able to make the case to let its current strategy play out further, William Blair analyst Jeffrey Garro tells investors in a research note. Last Friday, various media reports broke the news that Fitbit has hired an investment bank, Qatalyst Partners, to explore a sale, the analyst points out. The company has a large, growing, and loyal active user base and has made positive strides in proving itself as a health and wellness differentiator, says Garro. However, the analyst does not have enough confidence that the board will find a right match for its valuation expectations, "if it gets that far in the near term." He sees the stock's risk/reward as balanced and keeps a Market Perform rating on Fitbit.

TODAY'S FREE FLY STORIES

SPY

SPDR S&P 500 ETF Trust

$298.89

2.88 (0.97%)

, SPX

S&P 500

$0.00

(0.00%)

20:46
10/15/19
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Periodicals
China may retaliate if U.S. Congress passes bill supporting Hong Kong protesters 

Report from Bloomberg.

SPY

SPDR S&P 500 ETF Trust

$298.89

2.88 (0.97%)

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BAC

Bank of America

$29.74

0.59 (2.02%)

, ABT

Abbott

$82.06

2.25 (2.82%)

20:25
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Earnings
Notable companies reporting before tomorrow's open »

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BAC

Bank of America

$29.74

0.59 (2.02%)

ABT

Abbott

$82.06

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$53.73

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$44.37

0.47 (1.07%)

ALLY

Ally Financial

$32.03

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Comerica

$67.01

1.765 (2.71%)

FHN

First Horizon

$16.13

0.22 (1.38%)

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RIO

Rio Tinto

$51.40

-0.43 (-0.83%)

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GNTX

Gentex

$26.98

0.65 (2.47%)

20:16
10/15/19
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Gentex initiated at Guggenheim »

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VNE

Veoneer

$16.11

0.82 (5.36%)

20:16
10/15/19
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Initiation
Veoneer initiated at Guggenheim »

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VC

Visteon

$82.45

0.63 (0.77%)

20:15
10/15/19
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20:15
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Initiation
Visteon initiated at Guggenheim »

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  • 24

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DLPH

Delphi Technologies

$14.37

0.45 (3.23%)

20:14
10/15/19
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20:14
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Initiation
Delphi Technologies initiated at Guggenheim »

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BWA

BorgWarner

$37.74

0.68 (1.83%)

20:13
10/15/19
10/15
20:13
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20:13
Initiation
BorgWarner initiated at Guggenheim »

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  • 31

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LEA

Lear

$121.75

3.94 (3.34%)

20:13
10/15/19
10/15
20:13
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20:13
Initiation
Lear initiated at Guggenheim »

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  • 25

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    Dec

DFIN

Donnelley Financial Solutions

$10.54

0.035 (0.33%)

20:12
10/15/19
10/15
20:12
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Initiation
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JNJ

Johnson & Johnson

$132.84

2.17 (1.66%)

, TEVA

Teva

$6.96

0.22 (3.26%)

19:17
10/15/19
10/15
19:17
10/15/19
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Periodicals
As part of proposed settlement, Teva offers $15B of free drugs, Bloomberg says »

The report also notes…

JNJ

Johnson & Johnson

$132.84

2.17 (1.66%)

TEVA

Teva

$6.96

0.22 (3.26%)

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  • 15

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  • 07

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WAFD

Washington Federal

$36.81

0.15 (0.41%)

19:04
10/15/19
10/15
19:04
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19:04
Earnings
Washington Federal reports Q4 EPS 66c, consensus 65c »

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  • 06

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INGR

Ingredion

$81.17

0.94 (1.17%)

19:01
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Ingredion discloses malware affecting certain data centers »

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  • 31

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SPX

S&P 500

$0.00

(0.00%)

, SPY

SPDR S&P 500 ETF Trust

$298.89

2.88 (0.97%)

19:01
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Periodicals
Pelosi holds off on House vote over impeachment inquiry, Politico says »

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SPX

S&P 500

$0.00

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SPY

SPDR S&P 500 ETF Trust

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PBR

Petrobras

$14.40

0.02 (0.14%)

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  • 25

    Oct

SNBR

Sleep Number

$46.69

0.48 (1.04%)

, UAL

United Airlines

$87.90

0.9 (1.03%)

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SNBR

Sleep Number

$46.69

0.48 (1.04%)

UAL

United Airlines

$87.90

0.9 (1.03%)

MCK

McKesson

$138.17

4.01 (2.99%)

ABC

AmerisourceBergen

$83.18

1.6 (1.96%)

CAH

Cardinal Health

$47.93

1.16 (2.48%)

FULT

Fulton Financial

$15.90

0.19 (1.21%)

ETN

Eaton

$82.16

1.29 (1.60%)

SFIX

Stitch Fix

$20.83

-0.38 (-1.79%)

MGM

MGM Resorts

$27.87

-0.1 (-0.36%)

JBHT

J.B. Hunt

$111.65

1.985 (1.81%)

IBKR

Interactive Brokers

$47.43

0.26 (0.55%)

RYTM

Rhythm Pharmaceuticals

$20.90

0.52 (2.55%)

PRQR

ProQR Therapeutics

$6.21

-0.09 (-1.43%)

NTRA

Natera

$39.21

1.01 (2.64%)

PRNB

Principia Biopharma

$29.88

0.7 (2.40%)

X

U.S. Steel

$11.43

0.27 (2.42%)

ARCE

Arco Platform

$48.15

0.75 (1.58%)

TW

Tradeweb Markets

$39.79

-0.14 (-0.35%)

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KKR

KKR

$26.79

0.67 (2.57%)

, DB

Deutsche Bank

$7.79

0.235 (3.11%)

18:21
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Periodicals
KKR, partners cancel Latitude Financial IPO, Reuters reports »

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KKR

KKR

$26.79

0.67 (2.57%)

DB

Deutsche Bank

$7.79

0.235 (3.11%)

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  • 15

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  • 04

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TW

Tradeweb Markets

$39.79

-0.14 (-0.35%)

18:20
10/15/19
10/15
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Hot Stocks
Breaking Hot Stocks news story on Tradeweb Markets »

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  • 07

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TW

Tradeweb Markets

$39.79

-0.14 (-0.35%)

18:17
10/15/19
10/15
18:17
10/15/19
18:17
Syndicate
Tradeweb Markets files to sell 14.8M shares of Class A common stock »

Refinitiv will continue…

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TW

Tradeweb Markets

$39.79

-0.14 (-0.35%)

18:16
10/15/19
10/15
18:16
10/15/19
18:16
Earnings
Tradeweb Markets sees Q3 adjusted EPS 27c, consensus 25c »

Sees Q3 revenue $200.98M,…

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  • 07

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EDIT

Editas Medicine

$20.30

0.48 (2.42%)

18:15
10/15/19
10/15
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Editas Medicine, AskBio enter research collaboration over in vivo delivery »

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WYNN

Wynn Resorts

$114.78

2.43 (2.16%)

18:03
10/15/19
10/15
18:03
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18:03
Periodicals
NV regulators want to ban Steve Wynn from NV casino industry, Reuters says »

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SFIX

Stitch Fix

$20.83

-0.38 (-1.79%)

18:00
10/15/19
10/15
18:00
10/15/19
18:00
Hot Stocks
Stitch Fix director buys 150K shares of common stock »

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  • 22

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NTRA

Natera

$39.21

1.01 (2.64%)

17:48
10/15/19
10/15
17:48
10/15/19
17:48
Syndicate
Natera files to sell $175M of common stock »

J.P. Morgan, Morgan…

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AQST

Aquestive Therapeutics

$3.36

0.2 (6.33%)

17:45
10/15/19
10/15
17:45
10/15/19
17:45
Earnings
Aquestive backs FY19 revenue $38M-$45M, consensus $42.82M »

Aquestive Therapeutics…

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