Fitbit (FIT) stock jumped on Tuesday after Morgan Stanley upgraded the maker of wearable activity trackers. But others are bearish on Fitbit. Global Equities Research sounded the sell alarm Tuesday for the fitness band leader. Morgan Stanley analyst Katy Huberty upgraded Fitbit stock to overweight from equal weight and raised her price target to 58 from 43. Fitbit stock was up 8%, near 34.50, in morning trading on the stock market today. In a
Two new entrants in the wearable device market are giving leader Fitbit (FIT) a run for its money: Apple (AAPL) and Xiaomi. Fitbit, a maker of fitness bands and activity trackers, was No. 1 in the wearables market in the second quarter, with 24.3% market share, research firm IDC said Thursday. It shipped 4.4 million units in Q2, up 159% year over year. Apple, which launched its Apple Watch smartwatch on April 24, grabbed the No. 2 spot among
Tech stocks went on a wild ride Monday, diving at the open on concerns about the Chinese economy. But some big names later rebounded and were in positive territory before falling back into the red in afternoon trading. Among the firms that went bungee jumping on Monday were Apple (AAPL), Fitbit (FIT) and Netflix (NFLX). Consumer electronics giant Apple plunged as much as 13%, then rebounded to a gain of 3% before ending the day down 2.5% at