Shares of Fitbit Inc (NYSE:FIT) ended Monday session in green amid volatile trading. The shares closed up +0.28 points or 1.92% at $14.85 with 7.85 million shares getting traded. Post opening the session at $14.40, the shares hit an intraday low of $14.35 and an intraday high of $15.14 and the price vacillated in this range throughout the day. The company has a market cap of $3.27 billion and the numbers of outstanding shares have been calculated to be 222.15 million shares.
Fitbit Inc (FIT) on August 29, 2016 announced new software features to Fitbit Blaze™, including extended smartphone notifications, Reminders to Move and new clock faces that provide an even smarter, more motivating and more personalized fitness experience. Fitbit also unveiled new, stylish designs, including a Special Edition Gold series plus other premium textures and finishes, for its top-selling Fitbit Alta™ and Fitbit Blaze devices, and accessory options from leading fashion brands PUBLIC SCHOOL, Simply Vera Vera Wang for Kohl’s and Tory Burch.
Since the devices launched earlier this year, Alta and Blaze have risen to be top-selling products in their categories according to NPD Group. For the second quarter of 2016, Blaze was the #1 selling fitness watch in the U.S., while Alta was the #2 selling fitness tracker and wearable in the U.S., after Fitbit Charge HR™. In addition, Alta and Blaze have achieved strong rankings and have a 4-star or better rating on Amazon in the U.S.
“Creating Fitbit products consumers love and find indispensable is as much about advancing the innovative features and performance of the product as it is about designing how well it fits into wardrobes, lifestyles and moods,” said Tim Rosa, VP of Global Marketing. “The latest software update to Blaze provides consumers with more motivating features, plus added personalization so they can stay connected with smart features that matter most to them. Combined with our new premium designs for both Alta and Blaze, we are continuing to build on the popularity of our products with more style choices and features that provide more usefulness than ever before so that consumers can wear them day and night.”
Shares of Marvell Technology Group Ltd. (NASDAQ:MRVL) ended Monday session in green amid volatile trading. The shares closed up +0.23 points or 1.87% at $12.54 with 6.24 million shares getting traded. Post opening the session at $12.07, the shares hit an intraday low of $12.03 and an intraday high of $12.54 and the price vacillated in this range throughout the day. The company has a market cap of $6.29 billion and the numbers of outstanding shares have been calculated to be 511.70 million shares.
Marvell Technology Group Ltd. (MRVL) on Aug. 18, 2016 announced the appointment of Ms. Jean Hu as Chief Financial Officer (CFO), effective August 22, 2016. Ms. Hu is an accomplished executive with significant expertise in all aspects of finance and a proven track record of returning value to shareholders. At Marvell, she will lead the corporate finance, accounting, financial planning and analysis functions, and serve as a member of the executive team.
“I’m excited to welcome Jean to Marvell. This is a transformational time in the company’s history and Jean is a proven financial executive with deep experience in the semiconductor industry. She will be a significant asset to the team as we return Marvell to profitable growth,” said Matt Murphy, President and CEO, Marvell Technology Group. “I’d also like to thank David Eichler, our interim CFO, for his leadership and continued dedication to Marvell during a period of significant change.”
Ms. Hu joins Marvell from QLogic Corporation, where she was SVP and CFO; she also held the Acting CEO role at QLogic since August 2015. Previously, Ms. Hu held several senior positions at Conexant Systems, Inc. including CFO, Treasurer and SVP of Business Development from 2004 to 2011. Prior to 2004, Ms. Hu held various positions in financial planning, strategy and corporate development at Conexant and its predecessor company, Rockwell International Corporation.