Shares of Fitbit Inc (NYSE:FIT) ended Friday session in red amid volatile trading. The shares closed down -0.15 points or -1.02% at $14.57 with 8.15 million shares getting traded. Post opening the session at $14.63, the shares hit an intraday low of $14.42 and an intraday high of $14.82 and the price vacillated in this range throughout the day. The company has a market cap of $3.20 billion and the numbers of outstanding shares have been calculated to be 222.15 million shares.
Fitbit Inc (FIT) on August 29, 2016 released Fitbit Adventures, a new series of personal, non-competitive activity Challenges that are designed to inspire you to move more and reach your health and fitness goals. With each step logged, you can advance and virtually experience iconic landmarks and trails in Yosemite National Park or participate in the TCS New York City Marathon, while being motivated by fun facts and inspired through immersive breathtaking photography. Available globally in the top-downloaded, free Fitbit® app, Fitbit Challenges motivate users to increase activity, showing how small steps add up to big results, with Fitbit data demonstrating that users who participate in Challenges move up to around one additional mile per day, on average.
“Fitbit Adventures are the perfect motivation for anyone who may not want to compete in a traditional Fitbit group challenge with friends or family,” said Tim Roberts, Executive Vice President, Interactive at Fitbit. “These new challenges inspire you to move more through virtual explorations of some of the most captivating environments in the world – places you might not be able to visit otherwise – all powered by your daily step activity. Whether hiking a beautiful trail in one of America’s greatest natural treasures, completing the most iconic marathon in the world, or visiting one of the many exciting destinations yet to come, we believe Adventures truly brings the experience to life.”
Shares of Seagate Technology PLC (NASDAQ:STX) ended Friday session in red amid volatile trading. The shares closed down -0.22 points or -0.61% at $36.09 with 7.72 million shares getting traded. Post opening the session at $36.77, the shares hit an intraday low of $35.99 and an intraday high of $37.96 and the price vacillated in this range throughout the day. The company has a market cap of $10.71 billion and the numbers of outstanding shares have been calculated to be 298.61 million shares.
Seagate Technology PLC (STX) on September 9, 2016 announced a secondary block trade transaction of approximately 12.5 million ordinary and existing shares. Participating in this transaction are ValueAct Capital and Seagate Technology, as a result of which ValueAct Capital will become one of Seagate’s largest shareholders with approximately 9.5 million ordinary shares upon transaction closing. In connection with the transaction, ValueAct has been invited to serve as an observer on Seagate’s Board of Directors. The transaction is conditioned on customary regulatory approval which is expected by the end of September.
“We are very pleased to have ValueAct Capital as one of our largest investors. Seagate approached ValueAct to execute this transaction and become an investor in our company, given their commitment to and success in creating long-term value for the companies in which they invest. The Seagate Board and management team are looking forward to engaging with the ValueAct team as we leverage their experience and resources to further strengthen the company and create long-term investment appreciation for Seagate shareholders,” said Steve Luczo, Seagate’s chairman and chief executive officer.
“Seagate has a strong storage technology portfolio and is well positioned to benefit from attractive long-term secular trends,” said Mason Morfit, ValueAct Capital’s president. “We are very excited about the opportunity to work with the Seagate team, at both the Board and management level, to help increase long-term value for all shareholders.”