Earlier in the week, there was lots of buzz that Alphabet (NASDAQ:GOOGL, NASDAQ:GOOG) would acquire Fitbit (NYSE:FIT), whose shares spiked more than 15% today on the news (the main report came from Reuters). While such rumors often fizzle, this one certainly did not. Today the announcement hit the wires: Google has agreed to shell out $2.1 billion for the company. All in all, I think the deal is a spot on -- and should be a catalyst for Google stock.Source: Shutterstock True, it's still relatively small, as Alphabet's market cap is a whopping $870 billion. Yet, Fit is likely going to provide quite a bit of leverage. Let's face it, Google has tried to get a piece of the wearables market with its Wear OS. However, there has been little progress so far. How Fitbit Benefits Google StockSo with Fit, Google will have about 6% of the global market (this is...
Google said on Friday that it sees an opportunity to introduce its own wearable devices and invest more in digital health. The purchase will also bring a rich trove of health data gathered by millions of Fitbit's devices. Fitbit's fitness trackers and other devices monitor users' daily steps, calories burned and distance traveled....
ATLANTA — Building the case that battery-powered trucks simply aren’t a viable solution for heavy-duty, over-the-road applications, Hyundai Motor Co. revealed two new concepts at the North American Commercial Vehicle Show. Essentially, the weig ...