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☆ Peloton shares drop after it announces refinancing to stave off cash crunch
▼ + stars: | 2024-05-20 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +2 min

Peloton shares plunged on Monday after the connected fitness company said it is launching a "global refinancing," as it looks to stave off a cash crunch amid falling sales. Peloton plans to use the proceeds to buy back about $800 million of its 0% convertible senior notes, which are currently due in 2026, and refinance its existing term loan. Shares fell more than 12% in extended trading after Peloton announced the refinancing, but later regained some ground. In a letter to shareholders, the company said it is "mindful" of the timing of its debt maturities, which include convertible notes and a term loan. "Overall, our refinancing goals are to deleverage and extend maturities at a reasonable blended cost of capital," the company said.

Persons: Barry McCarthy, McCarthy, Goldman Sachs Organizations: JPMorgan

☆ Peloton's demise is another in a long line of failed fitness fads
▼ + stars: | 2024-05-15 | by ( Emily Stewart | ) www.businessinsider.com time to read: +11 min

Peloton isn't going under imminently, but let's be real here: No fitness fad lasts forever. While there was a lot that went wrong, the long and short of it is that Peloton failed to read the room on its pandemic popularity. "It's not that Peloton isn't a good business model; it's that it simply isn't a mass product but more of a niche, luxe one," she said. Investors have soured on the company, and Peloton's once $50 billion market cap has fallen to under $2 billion. It also has to contend with the gym, which has all sorts of classes and fitness equipment that let people mix things up, including, in many cases, Pelotons or other connected-fitness devices.

Persons: I've, Tae, monthslong, Rina Raphael, Simeon Siegel, It's, That's, Siegel, Paul Golding, it's, Golding, there's, Raphael, Natalia Mehlman Petrzela, Emily Stewart Organizations: Private, BMO Capital Markets, Macquarie Capital, Google, YouTube, New School, Facebook, Business Locations: COVID, unsubscribing, Barre, America

Connected fitness company Hydrow, which Peloton once tried to buy, is growing sales and has acquired a majority stake in strength training company Speede Fitness as gymgoers move away from cardio exercises in favor of weights, the company told CNBC on Thursday. It said it acquired Speede Fitness so it can expand into strength training, one of the fastest-growing segments in fitness today. Hydrow's acquisition and sales growth come as Peloton, which is credited with creating the connected fitness market, struggles to turn around a slowing business. Hydrow's delivered unit sales for its connected rowing machine jumped 23% this year from the year-ago period. Peloton debuted its rowing machine, the Peloton Row, in September 2022, but has done little to advertise or highlight the $3,000 machine.

Persons: Hydrow, Bruce Smith, John Stellato, Smith, Travis Kelce, Justin Timberlake, Thomas Fitzgerald, Hydrow's Organizations: CNBC, Kansas City Chiefs

A number of private equity firms have been considering a buyout of Peloton as the connected fitness company looks to refinance its debt and get back to growth after 13 straight quarters of losses, CNBC has learned. A number of other private equity firms have been circling Peloton as an acquisition target, but it's unclear if they have held formal discussions. Last week, Peloton announced a broad restructuring plan that's expected to reduce its annual run-rate expenses by more than $200 million by the end of fiscal 2025. Last week, Peloton announced CEO Barry McCarthy would be stepping down as it issued a disastrous earnings report that missed Wall Street's expectations. One source close to the company said Peloton isn't expected to have any issues refinancing its debt.

Persons: Barry McCarthy, Goldman Sachs Organizations: Interactive, CNBC, JPMorgan Locations: New York

☆ Here are Monday's biggest analyst calls: Nvidia, Apple, Amazon, U.S. Steel, Micron, Disney, Citi & more
▼ + stars: | 2024-05-06 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are the biggest calls on Wall Street on Monday: Morgan Stanley initiates EHang Holdings as overweight Morgan Stanley said it's bullish on shares of the Asia autonomous aerial vehicle company. Morgan Stanley downgrades Victoria's Secret to underweight from equal weight Morgan Stanley said it sees "underappreciated downside" for the lingerie company. Citi downgrades Peloton to neutral from buy Citi said in its downgrade of the stock that it has "limited visibility." Morgan Stanley upgrades U.S. Steel to overweight from equal weight Morgan Stanley said in its upgrade of U.S. Steel that it likes the company's "transformational investments." Morgan Stanley reiterates Apple as overweight Morgan Stanley said it's sticking with its overweight rating on Apple after analyzing the company's quarterly 10-Q report.

Persons: Morgan Stanley, it's, Baird, Morgan Stanley downgrades, Wells, Bausch, Lomb, Apple, Johnson, MLCO, Moffett, Melius, inferencing, JPMorgan Organizations: EHang Holdings, EH, Deutsche Bank, Disney, Deutsche, Micron, Citi, Comerica, CMA, Steel, U.S . Steel, Apple, Services, UBS, JCI, Barclays, Resorts, Nvidia, Broadcom, AMD, Microsoft, JPMorgan, Group, Bank of America, Santander Brasil, of America Locations: Asia, U.S

☆ Friday's analyst calls: Street reacts to Apple buybacks and Coinbase earnings
▼ + stars: | 2024-05-03 | by ( Alex Harring | ) www.cnbc.com time to read: +12 min

Analyst Scot Ciccarelli upgraded the retailer to buy from hold and raised his price target by $6 to $86. — Alex Harring 6: 22 a.m.: Here's what Wall Street thinks of Coinbase's earnings Coinbase's stronger-than-expected earnings have prompted analyst reactions. Barclays' Benjamin Budish (underweight, $179 price target unchanged, 21.8% downside): "The biggest question going forward is, how sustainable are these trends? — Alex Harring 6:12 a.m.: Wall Street reacts to Apple earnings Apple's buyback announcement has caught the eye of Wall Street analysts. Analyst Benjamin Nolan upgraded the railroad stock to buy from hold and increased his price target by $19 to $267.

Persons: Morgan Stanley, Jefferies, Bernstein, Aneesha Sherman, Sherman, — Alex Harring, Truist, Scot Ciccarelli, Ciccarelli, Ollie's, Estee Lauder, Dara Mohsenian, Mohsenian, Alex Harring, FactSet, Coinbase, what's, —, Goldman Sachs, Will Nance, Benjamin Budish, Oppenheimer's Owen Lau, JPMorgan's Samik Chatterjee, Morgan Stanley's Erik Woodring, Michael Ng, bullish, George Notter, Notter, We've, it's, Stifel, Benjamin Nolan, Nolan, — Alex Harring —, Michael Bloom Organizations: CNBC, Arista and Union Pacific, Apple, Arista, FactSet, Barclays, Bloomberg, ASU, Street, Services, Jefferies, Arista Networks, Nvidia, Microsoft, Meta, Pacific, Union Pacific Locations: F3Q, China, Thursday's

☆ Stocks making the biggest moves midday: Apple, Peloton, Wayfair, Carvana and more
▼ + stars: | 2024-05-02 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

Check out the companies making headlines in midday trading: Apple — Shares ticked up roughly 2% ahead of the iPhone maker's second-quarter results due after the closing bell. Wayfair said it lost 32 cents per share on an adjusted basis, narrower than the estimate of a loss of 44 cents from analysts polled by LSEG. Etsy reported adjusted earnings of 48 cents per share, while analysts polled by LSEG called for 49 cents a share. EBay said it expects revenue in the range of $2.49 billion to $2.54 billion, while analysts polled by LSEG forecast $2.56 billion. Qorvo now expects earnings of 60 cents to 80 cents per share, while analysts polled by FactSet expected $1.27.

Persons: Barry McCarthy, Wayfair, Cigna, DoorDash, Etsy, LSEG, Zillow, Qorvo, FactSet, — CNBC's Pia Singh, Tanaya Macheel, Samantha Subin, Hakyung Kim, Lisa Kailai Han, Alex Harring Organizations: Apple, —, Qualcomm, LSEG . Revenue, Moderna, LSEG, eBay —, EBay, Revenue

☆ Peloton CEO Barry McCarthy to step down, company to lay off 15% of staff as it looks to refinance debt
▼ + stars: | 2024-05-02 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +9 min

In a letter to staff, McCarthy said the company needed to implement layoffs because it wouldn't be able to generate sustainable free cash flow with its current cost structure. "Achieving positive [free cash flow] makes Peloton a more attractive borrower, which is important as the company turns its attention to the necessary task of successfully refinancing its debt," McCarthy said in the memo. McCarthy had also expected Peloton to reach positive free cash flow by June — a goal the company said it reached early during its third quarter. In a letter to shareholders, Peloton said it generated $8.6 million in free cash flow but it's unclear how sustainable that number is. The company didn't provide specific guidance on what investors can expect with free cash flow in the quarters ahead but said it does expect to "deliver modest positive free cash flow" in its current quarter.

Persons: Barry McCarthy, McCarthy, Karen Boone, Chris Bruzzo, Jay Hoag, It's, John Foley, hasn't, Goldman Sachs, Boone, Barry, Bruzzo, —, hadn't, Creditsafe, it's, Foley Organizations: Interactive, Allen & Company Sun Valley Conference, Spotify, Netflix, JPMorgan, LSEG, outperformance, CNBC Locations: Sun Valley , Idaho, lockstep

☆ Peloton's CEO steps down as the company cuts 15% of staff
▼ + stars: | 2024-05-02 | by ( Grace Dean | ) www.businessinsider.com time to read: +2 min

Peloton CEO Barry McCarthy is stepping down, the fitness company announced on Thursday. After reaching new highs during the pandemic, the company has recalled products, laid off workers, and seen sales and its stock tank. McCarthy replaced John Foley as Peloton CEO and president in February 2022. But since then, the company has recalled products, laid off thousands of workers, and seen sales and its stock tank. It posted a net loss for the quarter of $167.3 million, down from $275.9 million for the same quarter in 2023.

Persons: Barry McCarthy, —, McCarthy, John Foley, Karen Boone, Chris Bruzzo Organizations: Service Locations: Ohio

As the busy first-quarter earnings season moves along, several stocks still set to report could be due for big swings. First-quarter earnings have boosted stocks this week, as more than 77% of companies in the S & P 500 have exceeded analysts' expectations, according to FactSet. The S & P 500's year-over-year earnings growth for the first quarter is running at about 5.6%, according to Friday data from LSEG . The names on tap range from big-name AI plays Super Micro Computer and Amazon to health-care giants such as Moderna . Chipmakers Super Micro Computer and Advanced Micro Devices could also see some major moves this week, as they could rise or fall as much as 12.6% and 7.4%, respectively.

Persons: Curtis Nagle, Nagle, Samik Chatterjee, Goldman Sachs, Pinterest Organizations: Dow Jones, Computer, Moderna, CNBC Pro, Bank of America, TikTok, JPMorgan, Super Locations: chipmakers

☆ Peloton quietly drops unlimited free app membership because it failed to bring in paid subscribers
▼ + stars: | 2024-04-15 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +3 min

Peloton has quietly removed its unlimited free-membership tier on its fitness app less than a year after it debuted because the initiative was failing to convert users into paid subscribers, the company said. People who signed up for the company's unlimited free membership before it was removed will continue to have access to it, Peloton said. McCarthy, a former Netflix and Spotify executive, had long wanted a free tier on the company's app. Soon after, the unlimited free tier was no longer available. While app subscribers declined during Peloton's fiscal second quarter ended Dec. 31, Coddington said the company still "believe[s]" in its app strategy and it remains "an important part of the business."

Persons: Barry McCarthy, McCarthy, Morgan, Liz Coddington, Coddington, we'll Organizations: Netflix, Spotify Locations: Manhattan, New York City, U.S

☆ Retailers like Peloton and Saks keep paying vendors late, signaling possible 'financial distress'
▼ + stars: | 2024-04-04 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +13 min

To be sure, late payments don't always signal financial troubles. Creditsafe spokesperson Ragini Bhalla said payment data is only one factor the firm considers when assessing a company's financial health. Though the data "doesn't represent a company's total trading behavior, analysis has proven that it is hugely predictive of a company's financial health and creditworthiness," Bhalla said. "When the number of late payments increases like this, it's often indicative of financial challenges and poor cash flow forecasting," Creditsafe said. While Saks often made late payments last year, its on-time payments have dropped significantly since October 2023, the firm said.

Persons: Saul Loeb, Perry Mandarino, Mandarino, Creditsafe, Ragini Bhalla, Bhalla, Barry McCarthy, Simeon Siegel, Siegel, he's, Peloton's DPO, Marc Metrick, Metrick, Mark Still, Stewart Glendinning, Tim Baxter Organizations: Saks, Washington , D.C, AFP, Getty, Bed, RadioShack, CNBC, Retailers, Body, Body Works, Riley Securities, BMO Capital Markets, Business of Fashion, HBC, Express, Street, Creditsafe, Economic Security, IRS, New York Stock Exchange, Bath Locations: Washington ,, Express, Creditsafe, U.S

☆ Peloton posts mixed holiday results, dismal quarterly guidance
▼ + stars: | 2024-02-01 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +6 min

A Peloton Bike inside a showroom in New York, US, on Wednesday, Nov. 1, 2023. The company issued dismal guidance for the current quarter and a tepid full-year sales outlook. For its fiscal third quarter, Peloton expects sales to be between $700 million and $725 million, compared to a Wall Street estimate of $754 million, according to LSEG. The company expects its adjusted EBITDA loss to be between $20 million and $30 million, compared to analyst estimates of a loss of $2 million, according to StreetAccount. "We saw exceptionally strong sales growth through these channels this holiday season, with Y/Y unit growth of 74% in Q2," McCarthy said.

Persons: Barry McCarthy, Liz Coddington, McCarthy Organizations: Interactive, Wall, LSEG, Sporting Goods, Dick's Sporting Goods, University of Michigan Locations: New York, Ohio

Sales fell to $744 million in the second quarter, which company executives consider its most important quarter. That amounts to a 6% decline from a year ago and a whopping 34% fall from two years ago. New York-based Peloton lost 54 cents per share in the period and hasn't posted a quarterly per-share profit in three years. Peloton enjoyed incredible sales growth during the height of the coronavirus pandemic and its share price multiplied by more than five times in 2020 amid lockdowns. Last fall, Peloton and athletic wear maker Lululemon announced a five-year partnership with the interactive fitness company, becoming the exclusive digital fitness content provider for Lululemon, which became the primary athletic apparel partner to Peloton.

Persons: hasn't, Barry McCarthy, treadmills, John Foley, Lululemon Organizations: University of Michigan Locations: New York

☆ Lululemon shares fall as retailer gives tepid holiday outlook despite strong start to shopping season
▼ + stars: | 2023-12-07 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +3 min

Lululemon on Thursday said it saw strong third-quarter demand and a positive start to the holiday shopping season, but the retailer's shares fell in extended trading after it gave a tepid fourth-quarter outlook. During the quarter, sales jumped 12% in North America and 49% internationally, but the retailer's holiday guidance came in light of expectations. For the full year, Lululemon expects sales to be between $9.55 billion and $9.58 billion, compared to estimates of between $8.11 billion and $9.90 billion, according to LSEG. He added that Lululemon is "encouraged" by the trends it has seen at the start of the holiday season. During Lululemon's third quarter, total comparable sales were up 13%, higher than the 12.4% jump analysts had expected, according to StreetAccount.

Persons: Lululemon, We're, Meghan Frank, Calvin McDonald, McDonald Organizations: LSEG, CNBC PRO Locations: North America

☆ Peloton hit with issues during world-record ride attempt on Thanksgiving Day
▼ + stars: | 2023-11-23 | by ( Monica Melton | Aaron Mok | ) www.businessinsider.com time to read: +3 min

Peloton's annual 45-minute Turkey Burn Ride appeared to have crashed during the session. The fitness company's Turkey Burn Ride, a 45-minute live bike ride hosted by fitness instructor Robin Arzón, attempted to hit the Guinness World Record for the largest live cycling class. Other Peloton users said they were unable to join the Turkey Burn Ride for an extended period of time. Advertisement"This is garbage," a Peloton user who claims he was set to do the Turkey Burn ride wrote on X. !," a Peloton user commented on the company's Instagram post regarding the Turkey Burn ride.

Persons: Peloton's, —, Robin Arzón, Robin, I've, Barry McCarthy Organizations: Service, couldn't, YouTube Locations: Turkey, @RobinNYC

(This is CNBC Pro's live coverage of Tuesday's analyst calls and Wall Street chatter. Meanwhile, Deutsche Bank downgraded Peloton to hold from buy, slashing its price target on the stock. ET: Deutsche Bank downgrades Peloton on challenging near-term outlook Deutsche Bank analyst Lee Horowitz downgraded Peloton to hold from buy Tuesday, slashing their price target to $4 from $13 per share. Rats gave a €71.0, or $75.84, price target on the stock, implying shares could jump 14%. Ralph Lauren (price target: $130, pointing to 13% upside): The analyst noted Ralph Lauren's "consistent execution" should allow the stock to hold its premium valuation relative to peers.

Persons: Vivek Arya, Arya, — Pia Singh, Lee Horowitz, Horowitz, Peloton's, Morgan Stanley Morgan Stanley, Martijn Rats, Steven Shemesh, Shemesh, Lowe's, Ralph Lauren, Michael Binetti, Binetti, Ralph Lauren —, TJX, Ralph Lauren's, Fred Imbert Organizations: CNBC, ISI, Nike, Deutsche Bank, RBC Capital Markets, Semiconductor, EV, BofA Bank of America, Carbide, Silicon Carbide, TAM, Depot, PCE, TJX, Athletic Locations: France

☆ Peloton shares sink on wider-than-expected loss, 'bad news' for paid subscriptions
▼ + stars: | 2023-11-02 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +5 min

Michael Nagle | Bloomberg | Getty ImagesShares of Peloton sank about 6% in premarket trading Thursday after the company reported a wider-than-expected quarterly loss, a tepid holiday forecast and "bad news" for paid subscriptions. That falls short of the $763.2 million analysts had expected for the company's fiscal second quarter, according to LSEG. It's forecasting paid app subscriptions to be between 660,000 and 680,000, representing a 21% year-over-year drop off and 12% sequential churn. For the full year, Peloton expects paid app subscriptions to drop 6% to between 700,000 and 850,000 and revenue to fall 2% to $2.7 billion to $2.8 billion. It ended the quarter with 763,000 paying Peloton app subscribers, 65,000 fewer than the prior quarter.

Persons: Michael Nagle, Barry McCarthy, McCarthy Organizations: Interactive, Bloomberg, Getty, LSEG Locations: New York, U.S, Canada

☆ Stocks making the biggest moves midday: CarMax, Accenture, Peloton, Jefferies and more
▼ + stars: | 2023-09-28 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

DigitalBridge — Shares of the digital infrastructure company jumped 5.8% after JPMorgan upgraded the company to overweight from neutral. After the market closed Wednesday, Jefferies posted earnings of 22 cents per share on revenue of $1.18 billion. Accenture — Shares of the IT and consulting firm fell nearly 5% Thursday after Accenture reported mixed results for its fiscal fourth quarter. The used-car retailer's fiscal second-quarter earnings and revenue slipped from a year ago on weakening demand for used cars. Concentrix — Shares gained 10% a day after Concentrix said it would hike its quarterly dividend 10% to about 30 cents a share.

Persons: Trimble —, DigitalBridge, Jefferies, Duolingo, Wolfe, Lululemon, CarMax, Concentrix, FactSet, —, Jesse Pound, Christina Cheddar, Berk Organizations: Corporation, JPMorgan, Jefferies, UBS, Resorts, Wolfe Research, Accenture —, Accenture, StreetAccount, Micron, LSEG

☆ Stocks making the biggest moves premarket: Micron, CarMax, GameStop and more
▼ + stars: | 2023-09-28 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

Micron — The chipmaker's shares fell 3.4% Thursday before the bell on the back of a weaker-than-expected earnings forecast. For the fiscal fourth quarter, the company posted a narrower-than-expected loss as well as revenue that topped expectations. CarMax — Shares fell nearly 12% as fiscal second-quarter earnings fell from a year ago on weakening demand for used cars. Peloton — Shares popped nearly 14% in premarket trading Thursday after Peloton and Lululemon announced a five-year strategic partnership on Wednesday. The company's fourth-quarter earnings forecast of $3.03 to $3.15 per share also fell below analysts' forecasts of $3.33 per share, according to FactSet.

Persons: Ryan Cohen, Matthew Furlong, CarMax, Lululemon, DigitalBridge, Concentrix, FactSet, —, Sarah Min, Pia Singh Organizations: Micron, LSEG, GameStop, UBS, JPMorgan

☆ Peloton zooms after striking global deal with yoga wear maker Lululemon
▼ + stars: | 2023-09-27 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Carlo Allegri/File Photo Acquire Licensing RightsSept 27 (Reuters) - Peloton Interactive (PTON.O) and Lululemon Athletica (LULU.O) said on Wednesday they had entered into a five-year global partnership, sending Peloton's shares up 16.7% in aftermarket trading. Under the deal, Peloton would become the exclusive digital fitness content provider for the apparel maker, developing all content for Lululemon Studio beginning early 2024. The fitness platform provider, once a pandemic darling, has taken a series of measures to cut costs. Shares of Peloton's rival Xponential Fitness (XPOF.N) pared some gains on the news of the company's deal with Lululemon and were last up 3.6% after the bell. Lululemon also said it would discontinue selling its Studio Mirror - an interactive "smart fitness" device that features live, on-demand workouts - which has seen lackluster demand in recent months.

Persons: Carlo Allegri, Lululemon, Shivansh, Pooja Desai Organizations: REUTERS, Lululemon Studio, Lululemon, Thomson Locations: Manhattan, New York City, U.S, Bengaluru

☆ Peloton co-founder and Chief Product Officer Tom Cortese is leaving the company
▼ + stars: | 2023-09-26 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +1 min

Peloton co-founder and Chief Product Officer Tom Cortese is leaving the company and will be replaced by longtime Silicon Valley veteran Nick Caldwell, the company announced Tuesday. Cortese, who helped found the connected fitness company alongside former CEO John Foley in 2012, will move into an advisory role beginning Nov. 1, the company said. He'll oversee global product development and will start the new role Nov. 1. "I want to thank Tom for his tireless dedication since launching Peloton nearly 12 years ago as a Co-Founder of the business. "Nick brings impressive engineering, design, and product experience to the Peloton team.

Persons: Tom Cortese, Nick Caldwell, Cortese, John Foley, " Cortese, I'm, Caldwell, He'll, Tom, Barry McCarthy, Nick Organizations: Silicon, Twitter, Google, Microsoft

☆ A mother is suing Peloton claiming her son was killed when his bike fell on him
▼ + stars: | 2023-09-08 | by ( Sebastian Cahill | ) www.businessinsider.com time to read: +3 min

Johanna Furtado is suing Peloton, alleging its bike caused her son's death in 2022. Ryan Furtado was later found by the New York Police Department. Johanna Furtado alleges in the suit that Peloton did not provide enough warning that the bike could cause injury if people used it to pull themselves off the floor. On the bike Ryan was using, the lawsuit claims there was only a single warning label, which the suit calls "inadequate." The lawsuit is only one of the issues Peloton has faced over the past few years.

Persons: Johanna Furtado, Ryan Furtado, Ryan, Furtado, Global Communications Ben Boyd Organizations: Service, New York Police, Global Communications Locations: Wall, Silicon

☆ Insider Today: Y Combinator's Demo Day decline
▼ + stars: | 2023-09-07 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +10 min

Y Combinator's Demo Day, which will wrap up today, was long considered the event for early-stage startups. AdvertisementAdvertisementInvestors front-running Demo Day was previously considered a major faux pas. You might ask yourself: Who cares if startups line up investments before Demo Day? And companies that get investments before Demo Day might regret it in the long run. The new rating system for performance reviews determines pay — and managers were instructed to not share it with employees.

Persons: I've, that's, Madeline Renbarger, haven't, It's, it's, Samantha Lee, Madeline, There's, Martin, Ryan Reynolds, LeBron James, they're, Ed Yardeni, Jeremy Grantham, Brevan Howard, Peter Hornick, Eduardo Munoz, Sapna Chadha, Shopify, Arantza Pena Popo, YIMBYism, Elon Musk, Katy Perry, Hozier, Hayao Miyazaki's, Heidi Tissenbaum's, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Service, NFL, Tech, Bank, Getty Images, REUTERS, Google, Google Asia Pacific, The Kansas City Chiefs —, Detroit Lions, 48th Toronto, Getty Locations: Wall, Silicon, Silicon Valley, Nevada, The, New York City, San Diego, London, New York

☆ New York man was killed 'instantly' by Peloton bike, his family says in lawsuit
▼ + stars: | 2023-09-07 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +3 min

Cari Gundee rides her Peloton exercise bike at her home on April 06, 2020 in San Anselmo, California. The family of a New York man claims he was killed by his Peloton bike just six months after buying it, but the company insists that his own negligence caused his death, according to a lawsuit filed in state court. The lawsuit, filed in March 2023 in Brooklyn civil Supreme Court by Furtado's mother Johanna Furtado, is several months old. While at least one child was killed by Peloton's treadmill in March 2021, Furtado's death is the first known fatality linked to the company's ultra-popular exercise bike. Peloton's exercise equipment has gone through numerous recalls over the last few years.

Persons: Gundee, Ryan Furtado, Furtado, Furtado's, Johanna Furtado, Ben Boyd, plaintiff's decedent's Organizations: New York Police, Daily, Consumer Product Safety Locations: San Anselmo , California, New York, Brooklyn

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