Home / Street Sector / Fitbit Inc. (NYSE:FIT) Signs MoU With Alibaba Group (BABA)- Symantec (NASDAQ:SYMC)

Fitbit Inc. (NYSE:FIT) Signs MoU With Alibaba Group (BABA)- Symantec (NASDAQ:SYMC)

Fitbit Inc. (NYSE:FIT) [Trend Analysis] and Tmall.com, China’s largest third-party platform for brands and retailers, owned by Alibaba Group (BABA), released that they have inked a memorandum of understanding (MoU) to significantly expand Fitbit’s reach in China. With the mission of helping people achieve a healthier, more active lifestyle, the partnership will introduce the Fitbit® platform to hundreds of millions of people across the country. The Fitbit platform – which consists of devices, apps, social and motivational features, advice and personalized coaching – helps people make behavioural changes to be more active, exercise more, eat smarter, track their sleep and manage their weight.

Alibaba and Fitbit today formalised their intent to enter into a strategic partnership at a signing ceremony at Alibaba’s global headquarters in Hangzhou, China. As part of this arrangement, Fitbit will establish a major retail presence on Alibaba’s Tmall.com online shopping site as one of Tmall’s key brand partners. Tmall will also aim to help Fitbit become one of the first 10 global brands within Tmall’s electronics category to achieve 10 million fans in Asia.

Fitbit Inc. (NYSE:FIT) luring active investment momentum, shares an increase 1.23% to $18.10. The total volume of 8.97 Million shares held in the session was surprisingly higher than its average volume of 9525.37 shares. EPS estimates indicating constrictive facts, the current year from sell-side analysts, Price to current year EPS stands at 297.90%, and looking further price to next year’s EPS is 25.33%. While take a short look on price to sales ratio, that was 2.10 and price to earning ration of 34.41 attracting passive investors.

Symantec Corporation (NASDAQ:SYMC) [Trend Analysis] declared that Michael A. Brown will be stepping down as President and CEO. Mr. Brown will maintain to serve as CEO and as a director of firm until a successor has been appointed. The Symantec BOD has begun the search for the Company’s next CEO.  To facilitate a continued focus on the Company’s strategic priorities throughout the CEO search and transition, the Board has created an Office of the President composed of: Ajei S. Gopal, who is joining the Company as Interim President and Chief Operating Officer; Thomas J. Seifert, Symantec’s Executive Vice President and Chief Financial Officer; and Scott C. Taylor, Symantec’s Executive Vice President, General Counsel and Secretary.

Several matter pinch shares of Symantec Corporation (NASDAQ:SYMC), as shares plunging -6.90% to $16.86 with a share volume of 23.28 Million. The stock is going forward its 52-week low with 15.24% and moving down from its 52-week high price with -17.63%. To have technical analysis views, liquidity ratio of a company was calculated 1.90 as evaluated with its debt to equity ratio of 0.32.

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