Google, Fossil Gain on Android Watch Announcement

On Tuesday, Google

that a version of Android software for wearable devices starting with watches. The company plans to bring Android watches to market later this year. Google will be working with consumer electronics manufacturers, chip makers, and fashion brands and the company is committed to “fostering a an ecosystem of watches.” Watch designer and manufacturer Fossil

was mentioned as a company Google is working with. Later, Fossil

the company will support Google's extension of Android into wearables.. Other companies involved in Android watches are Samsung, Motorola, HTC, LG, and Asus. Fossil shares popped to a high of $117.74 and are now resting at $115.75, up 2.59 percent on the day. Shares of Google are up 1 percent to $1,204