Wearable tech-maker Fitbit, Inc. (FIT) - Get Report signed a three-year sponsorship deal with the NBA's Minnesota Timberwolves franchise to be the team's official sleep tracker and jersey patch sponsor.
The jersey patch will be unveiled later this year along with the Timberwolves' new uniforms.
"With many synergies between our two organizations, Fitbit is the ideal partner for our first ever jersey patch," said Timberwolves CEO Ethan Casson. "As a business, we are taking a fresh look at technology and innovation, and partnering with a company that also values the importance of data and analytics will serve us both well in the years to come."
Financial terms of the deal were not disclosed.
What's Hot On TheStreet
TheStreet's Lindsay Rittenhousewent shopping online at Ohio stores to see how Whole Foods stacked up against Walmart Stores Inc. (WMT) - Get Reportand rival grocer Kroger (KR) - Get Report. While the results may not be shocking, they show just how much Amazon will have to cut for Whole Foods to be on equal footing with some of its competitors.
The cost of eight everyday food items at Whole Foods, TheStreet found, were nearly double those of the ones at Walmart, but Kroger undercut them both. Whole Foods' basket cost $38.29; Walmart's, $19.86; and Kroger's, $16.58.
With data as shocking as this, it's no wonder Whole Foods founder John Mackey is in love with Amazon.
Tesla's stock is out of control: Tesla Inc. (TSLA) - Get Reportshares are expected to have a strong session amid reports Elon Musk's electric car baby may open a new production facility in China. Such a move would avoid tariffs in the world's second-largest economy, but risk the ire of U.S. President Donald Trump's "buy American, hire American" industrial policy, TheStreet's Martin Baccardax reports.
Tesla's market cap is now more than $60 billion and climbing, despite the company continuing to lose money. Ford's (F) - Get Reportmarket clocks in at $44.7 billion, while General Motors (GM) - Get Reportstands at $51.9 billion.
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