The Legend of Clessie Cummins
MarketFoolery
The Motley Fool
4.7 • 1.7K Ratings
🗓️ 30 January 2017
⏱️ 18 minutes
🧾️ Download transcript
Summary
Fitbit lowers guidance and announces layoffs. Analysts Jason Moser and Taylor Muckerman discuss Fitbit’s options, including which type of business might make the best acquisition. Plus, Rite Aid’s buyout offer from Walgreens just got lower. We try to make sense of Cummins’ valuation and share the company’s awesome origin story.
Transcript
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| 0:00.0 | Monday, January 30th. |
| 0:04.0 | Welcome to Mark of Foolry. |
| 0:05.0 | I'm Chris Hill joining me in studio today for a million dollar portfolio, |
| 0:07.4 | Jason Moser and from Stock Advisor Canada. |
| 0:10.3 | Taylor Markerman. |
| 0:11.7 | Good to see you, Jen. |
| 0:12.4 | What up, dude? Good to see you, Jen. What up, dude? |
| 0:13.4 | We got a little bit of snow today. |
| 0:15.0 | We did. How about that? You wake up, you look outside, there's snow on the trees. |
| 0:18.0 | It's a perfect amount. The roads are perfectly fine and it looks pretty. |
| 0:22.0 | It looks like the forecast of it to go ahead and just |
| 0:24.9 | throw the public school system in a complete chaos. I mean just the forecast of it. |
| 0:30.8 | I mean they school started two hours late today but where you live |
| 0:33.9 | for me I got to I got to wake my son up he's like it's good I was like nobody |
| 0:38.1 | school's on let's go chop chop let's be moving pat on the rear out to the bus exactly we're gonna dip it in the full mail bag. We're going to start though with a pair of stocks that are heading south very quickly. |
| 0:50.0 | Fitbit does not report their fourth quarter results until late February and today |
| 0:56.0 | the company confirmed what some had feared and at least one person in the studio |
| 1:00.3 | had predicted which is that this report is going to be ugly. |
| 1:04.4 | Fit Pit lowered their sales guidance and they're laying off 6% of the workforce. |
| 1:11.2 | And let me just stick with me on the numbers here because when companies of the predicted down to the dollar. The sales guidance range that Fitbit had offered was, well, we |
| 1:25.5 | think sales are going to come in somewhere between $725 and $750 million. And they came |
| 1:31.7 | out today and said, actually it's going to be around 580 |
... |
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