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Home » Fitness » An exploding Fitbit? Just another issue for fitness band maker – The Mercury News

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Does It Really Fit?:San Francisco-based fitness band maker Fitbit has had a rough go of it for several months. Earlier this year, Fitbit reported weaker-than-expected quarterly results, due in large part to a disappointing Christmas and holiday shopping season, and cut 110 jobs. Investors havent really rallied behind the company, either, as Fitbits shares are down by more than 18 percent this year.

And now, on top of all of thatExploding Fitbits, too?

Thats whats being alleged by a woman in Wisconsin, who said that while she was reading a book, her Fitbit Flex 2 band started heating up and then melted, leaving pieces of plastic from the band burned into her arm. Fitbit introduced the Flex 2 last fall with a price tag of $100.

Meanwhile, one of Fitbits bands could end up being a key piece of evidence in a murder trial in Connecticut. Police say the data on a Fitbit worn by a woman murdered in late 2015 doesnt correlate to the alibi given by the womans husband, who has been charged with killing his wife.

Middle Innings:

Tweeting Out Gains: Twitter shares climbed almost 8 percent Wednesday, to close at $15.82, even though the company reported its first year-over-year decline in quarterly revenue since it went public four years ago. Although Twitters revenue dropped 8 percent from last years first quarter, its $548 million in sales topped the $509 million forecast by Wall Street analysts.

Instant Growth:Are you on Instagram? Maybe not, but the social-media site is grabbing up more and more users all the time. On Wednesday, Instagram said it has reached 700 million monthly users, or about 100 million more than it had just four months ago. The addition of new features such as live video and its Stories function, which lets posts stay on the site for just 24 hours, are being cited as some of the reasons for Instagrams rapid growth in users.

Streaming Pay Raises:Netflix is going full-steam ahead with its raft of original programming, a new deal to expand into China and its plans to sell more than $1 billion in debt to finance its grand plans. If you had bought Netflix stock at the start of the year, youd be patting yourself on the back right now, as the companys shares have risen 22 percent over the last four months, and closed Wednesday at $150.17.

And Netflixs stock price isnt the only thing on the rise. New filings with the Securities and Exchange Commission show that Netflix Chief Executive Reed Hastings received a compensation package in 2016 that climbed by more than 39 percent over what he got in 2015. And many other Netflix executives also saw big gains in their take home pay, too.

Bottom of the Lineup:

Heres a look at how some leading Silicon Valley stocks did Wednesday

Movin on Up:In addition to Twitter, gains came from Rocket Fuel, Juniper Networks, Depomed, Harmonic and Chegg.

In the Red:Decliners included Oclaro, Natus Medical, Inphi, Nektar Therapeutics and Finisar.

The tech-focusedNasdaq Composite Indexclosed at its breakeven point of 6,025.23.

The blue chipDow Jones Industrial Averageslipped by 0.1 percent to 20,975.09.

And the broad-basedStandard & Poors 500 Indexclosed just below its breakeven point at 2,387.45.

Quote of the Day:The president owns this plan; dont be mistaken. Gary Cohn, director of the White House National Economic Council. Cohn was speaking about President Trumps proposal to dramatically overhaul the tax-rate structure for American businesses.

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An exploding Fitbit? Just another issue for fitness band maker - The Mercury News

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Home » Fitness » An exploding Fitbit? Just another issue for fitness band maker – The Mercury News