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☆ I tried every popular workout but nothing stuck. Orange Theory helped me finally become a fitness lover.
▼ + stars: | 2024-09-28 | by ( Jessica Tzikas | ) www.businessinsider.com time to read: +6 min

I discovered Orange Theory through a friend, and I just completed my 250th class. My best friend had recently started Orange Theory classes and was trying to get me to join. I finally tried Orange TheoryAfter months of my friend wearing me down, and slightly out of desperation, I signed up for a trial class. AdvertisementI now love working outIt has now been over a year since I first walked into Orange Theory. In the past, I worked out and attended fitness classes to lose weight.

Persons: —, twirling Organizations: Service, barre, Orange

☆ Robin Arzón shares why she's proud of her Hispanic roots
▼ + stars: | 2024-09-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRobin Arzón shares why she's proud of her Hispanic rootsAs the daughter of a Cuban refugee, Peloton's Robin Arzón says resiliency lives in her DNA.

Persons: Robin Arzón, Peloton's Robin Arzón, resiliency Locations: Cuban

☆ Tadej Pogačar: ‘The odds are pretty good to have five Tours de France, but that’s not the goal I want’
▼ + stars: | 2024-09-11 | by ( George Ramsay | ) edition.cnn.com time to read: +8 min

“When I was younger, I was never thinking that I can win a stage in the Tour de France,” Pogačar tells CNN Sport. “After I won the first Tour de France – because that’s an ultimate goal in cycling – everything is more or less a bonus. “But three now, three Tours de France and maybe 10 more years of my career if I’m well. That includes one-day classics, which require an explosivity normally sacrificed by Tour de France contenders in favor of endurance. He said last year that Pogačar can “win everything” and called the young rider a “blessing” for cycling fans.

Persons: Tadej Pogačar, Jonas Vingegaard, la, Pogačar hadn’t, Pogačar, Marco Pantani, ” Pogačar, that’s, “ I’m, Marco Bertorello, Primož Roglič, Denmark’s Vingegaard, Jacques Anquetil, Eddy Merckx, Bernard Hinault, Miguel Indurain, Lance Armstrong –, –, ”, I’m, Jerome Delay, “, Urška Žigart, Komenda, “ Jonas, Stephane Mahe, Merckx, we’ve Organizations: CNN, de France, Tour de France, CNN Sport, ” UAE Team Emirates, France, Getty, Slovenian, Tours de, de, UAE Team Emirates, Tour de, Paris, Roubaix, Belgian, ”, Reuters Locations: Slovenia, AFP, Tours de France, de France, Milan, San Remo, Switzerland, Sierra Leone, Swiss, Zürich, Venice, Italy, Ljubljana, cycling’s, Slovenian

☆ I landed a 6-figure government job after leaving the military. It's high-stress and comes with many challenges — here's how I manage it.
▼ + stars: | 2024-09-10 | by ( Perri Ormont Blumberg | ) www.businessinsider.com time to read: +5 min

I'm a management and senior policy analyst at the US Department of Housing and Urban Development (HUD) in Washington, DC. After transitioning from military to civilian life in 2012, I worked as a policy analyst and technical writer at Sage Management. I love my new role and would've left to pursue a fully remote role if this didn't happen at HUD. I work around these challenges by building relationships with other program offices within HUD to collaborate and get the work done. Within the HUD Veterans Affinity Group, we established the Women's Group to talk monthly with and support women veterans.

Persons: —, Ebony Grey, It's, I've, would've Organizations: Service, US Department of Housing, Urban Development, Business, Air Force, Sage Management, HUD, Affinity Group, ACT, Education, Federal, Veterans Affinity Group, Blacks, American Federal Executive Association, Young Government Locations: Washington ,, Afghanistan, Government

☆ 3 Buys and a Bail: Peloton, Gap, PayPal, & Nike
▼ + stars: | 2024-08-23 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email3 Buys and a Bail: Peloton, Gap, PayPal, & NikeDanielle Shay, VP of options at Simpler Trading, joins CNBC's 'The Exchange' to discuss her moves on four stocks: Peloton, Gap, PayPal, and Nike.

Persons: Nike Danielle Shay Organizations: PayPal, Nike

JMP Securities upgraded Warby Parker to market outperform, calling for more than 40% upside. The financial firm upgraded shares of the streaming technology provider to buy from neutral. Analyst Michael Morris also established a 12-month price target of $75, which is approximately 21% higher than where shares closed on Thursday. Peloton stock is down 25% on the year. His price target of $20 implies upside of 44% from Thursday's close.

Persons: Warby Parker, Michael Morris, Morris, — Lisa Kailai Han, Wells, Wells Fargo, Edward Kelly, Kelly, BJ's, BJ, Lisa Kailai Han, Piper Sandler, Anna Andreeva, Andreeva, it's, Piper, Doug Anmuth, Anmuth, Nicholas Jones, Jones, Fred Imbert Organizations: CNBC, JMP Securities, JPMorgan, Guggenheim, BJ's, BJ's Wholesale, LT, Costco, CF Subs, Revenue, Warby, Warby Parker Inc Locations: ROKU, Chewy, Thursday's

☆ Here are Friday's biggest analyst calls: Nvidia, Peloton, Chewy, Uber, Burlington Stores, BJ's Wholesale Club, Roku and more
▼ + stars: | 2024-08-23 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +3 min

JPMorgan downgrades Peloton to neutral from overweight "Following Thursday's +35% appreciation (vs. SPX -1%) we are moving from Overweight to Neutral rated as PTON's return to growth in CF Subs & Revenue remains challenging, & visibility is limited given secular & macro pressures." Wells Fargo reiterates Burlington Stores as top pick "We reiterate BURL as our "Top Pick" and see a highly visible growth/margin bull case unfolding in real time. The combination of 1) comp acceleration and 2) margin unlocks should be powerful, and we raise 2Q/FY numbers above Street. Wells Fargo upgrades BJ's Wholesale Club to overweight from equal weight "Margin investment is the right strategic shift despite n/t pain, and supplements robust member gains. Valuation is tricky, but comp ramp/return to algo in '25 point to upside."

Persons: Piper Sandler, Warby Parker, Uber, Nomura, Wells, BURL, Goldman Sachs, Bill.com, Guggenheim Organizations: Nvidia, RBC, Westlake, JPMorgan, CF Subs, Revenue, Bank of America, Waymo, Tesla, Burlington Stores, Wholesale

☆ Stocks making the biggest moves premarket: Peloton, Workday, Chewy and more
▼ + stars: | 2024-08-23 | by ( Hakyung Kim | In Hakyungkim | ) www.cnbc.com time to read: +2 min

Chewy — The pet retailer stock advanced more than 2% on an upgrade from Piper Sandler to outperform from neutral. The company also announced a $300 million stock buyback plan. The company topped earnings estimates by 9 cents a share and matched revenue estimates of $5.25 billion. Workday posted adjusted earnings per share of $1.75 on $2.09 billion in revenue. Analysts polled by LSEG had forecasted $1.65 earnings per share and revenue of $2.07 billion.

Persons: Piper Sandler, Warby Parker, Warby, Wells, Bill.com, LSEG, —, Samantha Subin, Jesse Pound, Pia Singh Organizations: —, JPMorgan, JMP Securities, UBS, BJ's Wholesale, Ross Locations: Vegas, Macau, Wells Fargo

☆ Peloton fans are angry about a new 'Activation Fee' for anyone buying a used bike on Facebook Marketplace or Craigslist
▼ + stars: | 2024-08-23 | by ( Ana Altchek | ) www.businessinsider.com time to read: +1 min

Peloton drew backlash after introducing a $95 activation fee for used bikes. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementPeloton has sparked outrage from customers after announcing a new $95 activation fee for anyone in the US or Canada buying a secondhand bike. The activation fee includes a $25 spare parts credit, a 50% off coupon for up to three pairs of Peloton cycling shoes and a Peloton Bike mat, and a virtual onboarding session.

Persons: — Organizations: Service, Business Locations: Canada

☆ I tried a 'kid-safe' smartphone with no social media. I loved it but would change one thing.
▼ + stars: | 2024-08-10 | by ( Julia Pugachevsky | ) www.businessinsider.com time to read: +8 min

Gen Alpha is poised to be the most online generation, with AI and other inevitable advancements in technology and social media. I loved the phone, but using it for a week also made me realize how complicated excessive social media use is to solve. AdvertisementIt all reminded me of a conversation I had earlier this year with an ex-digital brand strategist about reducing social media use. I'd see memes from friends who forgot to text my Gabb phone and would get sucked right back into social media. Plus, the only reason I have social media boundaries at all is because I grew up being encouraged to have hobbies.

Persons: —, I've, Alpha, Julia Pugachevsky, it'd, Sabrina Carpenter's, GabbMessenger, It's, they'll Organizations: Service, Business, Apps, Spotify

☆ Remco Evenepoel creates a moment he ‘could only dream of’ with thrilling Olympic cycling double
▼ + stars: | 2024-08-04 | by ( Rosanne Roobeek | ) edition.cnn.com time to read: +5 min

Paris CNN —Belgium’s Remco Evenepoel made history on Saturday, becoming the first male cyclist to claim gold in both the road race and time trial at the same Olympic Games. “Crossing the finish line, I realized I just became the double Olympic champion in one week, something I could only dream of,” Evenepoel told CNN. Evenepoel and Valenton Madouas of Team France pass through the Côte de la Butte Montmartre while fans cheers during the men's road race. David Ramos/Getty ImagesInside the final 40 kilometers (25 miles), Evenepoel broke away from a peloton that included top rivals like Mathieu van der Poel of the Netherlands. Belgian cyclist Remco Evenepoel celebrates his gold medal for the men's cycling road race at the Belgium House in Paris, France on August 3, 2024.

Persons: Paris CNN —, Evenepoel, ” Evenepoel, Usain Bolt, Michael Phelps, David Ramos, Mathieu van der, France’s Valentin Madouas, “, “ It’s, ”, Remco Evenepoel, Jasper Jacobs, Gil de Vis, it’s, ” de Vis Organizations: Paris CNN, Tour de France, CNN, Olympics, France, ”, Eiffel, Belgium House, MAG, Getty Locations: Paris, Netherlands, Belgian, Belgium, France, Aalst, Brussels

☆ Forget Uber and Airbnb: Some people are going back to doing things the old-fashioned way to save money
▼ + stars: | 2024-08-03 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +9 min

"If I was using rideshares and the delivery apps and everything the way I was, I would run out of money each month," she said. For some, like Manley, it means going back to the old-fashioned way of doing certain things: shopping around for hotel deals, taking public transit more, and working out at home with fitness classes on video. AdvertisementGrant Plotkin, 26, is a Gen Zer who experienced the pre-2020 millennial subsidy as a young adult. The next iteration of the millennial subsidy might be gamifying surge pricing for groceries or a side of fries. AdvertisementHas the loss of the millennial subsidy affected your finances or lifestyle?

Persons: Sarah Manley, Manley, She's, they'd, Millennials, YipitData, Grant Plotkin, Zer, he's, Plotkin, Ubers, Brett House, that's, Bilal Baydoun, Baydoun Organizations: Service, Business, Bloomberg, Netflix, Columbia Business School, Dollar, Aldi, Big Tech, American Locations: Baltimore, it's

☆ Biniam Girmay: The Black African cyclist making history wherever he rides
▼ + stars: | 2024-07-21 | by ( Ben Church | ) edition.cnn.com time to read: +5 min

CNN —Biniam Girmay made history at this year’s Tour de France and the Eritrean cyclist wants to use his success to inspire others to follow his path. The Intermarche-Wanty rider, who previously became the first Black African to win a stage at the Giro d’Italia, now wants other Black riders to excel in the sport. “I’m convinced that my compatriots will be happy to hear that my future is intertwined with the team who gave me the opportunity to write important pages of African cycling history,” he said after signing his long-term contract. Only two other African riders, Robbie Hunter and Daryl Impey of South Africa, both White, had previously won stages at the Tour de France, per Reuters. Winning today is unbelievable.”He has since gone on to claim victories in Stages 8 and 12, achievements he hope will blaze a trail for the next generation of young Black riders to follow.

Persons: Biniam Girmay, It’s, ”, it’s, ” Girmay, Mark Cavendish, Peter Sagan, Daniel Teklehaimanot, Girmay, Molly Darlington, “, “ I’m, Teklehaimanot, de France Girmay, Robbie Hunter, Daryl Impey, White Organizations: CNN, de France, Eritrean, France, Giro, Eurosport, Olympic Games, Cycling, Intermarche, Tour de France, Reuters, “ Locations: “, Asmara, Swiss, Africa, Europe, Eritrea, South Africa

☆ Peloton staved off the cash crunch that threatened its business. Where does it go now?
▼ + stars: | 2024-07-02 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +8 min

Before the refinancing, Peloton would have needed to pay around $800 million toward its debt by November 2025. Now that it has refinanced, Peloton has eased investor concerns about liquidity and has the breathing room it needs to try to turn around its business. Peloton faces risks aheadWhile the refinance may have bought Peloton some time, it's far from a panacea. Under the terms, Peloton will now be spending about $133 million annually in interest, up from around $89 million previously. As of the end of March, Peloton had about 6.6 million members — woefully behind that long-term target.

Persons: Michael Nagle, JP Morgan, Goldman Sachs, hasn't, Liz Coddington, Coddington, Evan DuFaux, Soros didn't, Neil Saunders, Barry McCarthy's, Karen Boone, Chris Bruzzo, Scott Stuart, Simeon Siegel, Siegel, John Foley, McCarthy, —, McCarthy – Organizations: Interactive, Bloomberg, Getty, CNBC, Soros Fund Management, Silver Point, GlobalData, Netflix, Turnaround Management Association, BMO Capital Markets, Spotify Locations: New York

☆ Pfizer struggles to claw back faith with Wall Street and its employees as it recovers from the Covid decline
▼ + stars: | 2024-06-28 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +19 min

But other current employees are dissatisfied with where the strategy shift has left them. In January 2023, Pfizer forecast a steep drop in annual revenue, to between $67 billion and $71 billion. Pfizer's 2023 revenue ultimately came in at $58.5 billion, including $11.22 billion from its Covid vaccine and $1.28 billion from Paxlovid. Faith in executive leadership also plunged among some workers, according to most of the current and former employees who spoke with CNBC. Some current workers said that hasn't appeared to change after the town hall on May 2.

Persons: Albert Bourla, Wall, they're, Bourla, I'm, drugmaker Seagen, Irfan Khan, hasn't, Pfizer, renegotiating, John Thys, Payal Sahni Becher, Becher, Kena, Mike McDermott, Bourla's Organizations: Corbis, Getty, Pfizer, Wall, CNBC, Los Angeles Times, Moderna, Centers for Disease Control, U.S ., GSK, Bristol Myers Squibb, Pfizer wasn't, . Biotech, Companies, Biotech, BioNtech, Reuters, Human, View Press, Global, APEC, Summit, Tech, Google Locations: U.S, Covid, Eagle Rock , California, Durham , North Carolina, Puurs, Belgium, New York City, Peapack , New Jersey, Kena

☆ 4 investors share the strategies they're using to earn passive income and build wealth while they sleep
▼ + stars: | 2024-06-27 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +7 min

Whereas, with passive income, the idea is you do upfront work and then the gig pays you while you sleep. Insider has spoken with individuals and couples who have built passive income streams that are helping them build wealth without having to put in a ton of hours. "I 100% think that it can be a lucrative passive income stream," Erika said of investing in a franchise. That comes out to about $40,000 a month in just subscription revenue. "Everyone talks about passive income, but they keep growing.

Persons: —, Erika, Kareem Hall, Kareem, Erika Hall, Rachael Victoria, They've, , Kent, Liz Wilcox, Wilcox, I'm Organizations: Service, Business, Soccer Shots, Emory, Soccer, he's, LAX Locations: Georgia, Scottsdale , Arizona, Scottsdale

☆ I weighed 434 and my doctor said I could die. I lost 163 pounds by riding a stationary bike and focusing on portions and lean proteins.
▼ + stars: | 2024-06-19 | by ( Jane Ridley | ) www.businessinsider.com time to read: +5 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. My wife, Teresa, got pregnant with our daughter, Sarah, now 33, and I did the classic thing of gaining sympathy weight. AdvertisementMiller and his wife, Teresa, before he lost weight. But it's a wake-up call when a doctor says your BMI is off the charts and you're morbidly obese. I now weigh 271 pounds and intend to lose another 20 to 25 pounds to reach my goal.

Persons: —, August Miller, Teresa, Sarah, I'd, Miller, I'm, Miller Teresa, They're Organizations: Service, Business, BMI Locations: Coke, Mexican

☆ Kendall Toole, a Popular Peloton Instructor, Announces Her Departure
▼ + stars: | 2024-06-13 | by ( Sara Ruberg | ) www.nytimes.com time to read: 1 min

Kendall Toole, a well-known Peloton instructor, announced on Thursday that she was leaving the home workout company. “I am choosing to close my chapter at Peloton,” she said in an Instagram reel on Thursday morning. In the video, she also offered thanks to Peloton and the community of members who took her classes. She often spoke about the importance of mental health and her own struggles with mental illness in her classes and online posts. Her fans lamented her departure online on Thursday, with some posting on the Peloton subreddit that there would be a gap in the offerings of their favorite music genres.

Persons: Kendall Toole, “, ”, Ms, Toole

☆ Nvidia’s wild ride in 2024 is boosting insiders’ wealth. What it could mean for employees holding the stock
▼ + stars: | 2024-06-11 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +5 min

The stock's rise has been a boon to employees and insiders at the chip company who own shares. So-called RSUs provide workers with shares at a future date following a vesting period of typically three to five years. Employers can also offer incentive stock options, which allow employees to buy a specified number of shares at a stated – or strike – price. Workers who exercise their ISOs are also subject to capital gains taxes when they sell the stock they've purchased. Nonqualified stock options are another form of equity compensation.

Persons: Tench Coxe, Blair duQuesnay, they're, Albert J, Campo, – Organizations: Nvidia, Securities and Exchange Commission, Ritholtz Wealth Management, CNBC's, Employees, Workers, CPA, Campo Financial Locations: New Orleans, Freehold , New Jersey

☆ YOLO is dying. That could be bad news for the economy
▼ + stars: | 2024-06-04 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

New York CNN —YOLO economy, meet the “yo, no” economy. In what was dubbed the YOLO economy (short for “you only live once”), or revenge spending, consumers shelled out for the experiences and goods they had missed. And that may be bad news for the economy. “We are monitoring the issue and engaging with market participants,” a spokesperson for the Securities and Exchange Commission told CNN. Joe Saluzzi, co-founder of Themis Trading, told CNN that the NYSE’s explanation is hard to square with the bizarre trades that hit the tape.

Persons: “ Covid, doesn’t, ” Sameer Samana, “, There’s, ”, that’s, Taylor Swift, It’s, Dow, Jerome Powell, Berkshire Hathaway, Warren Buffett, Joe Saluzzi, Themis Trading, I’m, Saluzzi, ” Read, Matt Egan, Keith Gill —, ” —, Read, Anna Cooban Organizations: CNN Business, Bell, New York CNN, Wells, Investment Institute, Walmart, Target, Employers, TSA, Federal Reserve, New York Stock Exchange, The New York Stock Exchange, ” Intercontinental Exchange, NYSE, ICE, CNN, NYSE Group, Consolidated, CTA, Berkshire Hathaway’s, Berkshire, Securities and Exchange Commission, Themis, GameStop, AMC Entertainment Locations: New York, YOLO, Samana, “, Berkshire

☆ I'm 83 and started doing Pilates 60 years ago. It transformed my body and helped me through aging.
▼ + stars: | 2024-06-04 | by ( Kelly Burch | ) www.businessinsider.com time to read: +4 min

When I started taking Pilates no one thought about diet or exercise. Sometimes, we would smoke cigarettes in the Pilates studio and go for martinis afterward. I found a Pilates studio near my Manhattan home. That's when interest in Pilates started to take off. I began the Physical Mind Institute, then called the Institute for Pilates Certification, to train teachers and meet demand.

Persons: Joan Breibart, Joseph Pilates, Sische Breitbart, I've, Joseph Organizations: Service, Business, Pilates Locations: Europe, Manhattan, barre, Crossfit, New York, Santa Fe , New Mexico

☆ Stocks making the biggest moves midday: Peloton, Lam Research, Lowe's, AstraZeneca and more
▼ + stars: | 2024-05-21 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

Lowe's — The home improvement stock fell 2.9% despite the company posting a first-quarter earnings and revenue beat. By comparison, analysts surveyed by FactSet had penciled in $1.45 in earnings per share on $1.21 billion in revenue. XPeng — U.S-listed shares jumped nearly 5% after the Chinese EV company topped first-quarter estimates for revenue and said it anticipates a rise in quarterly deliveries. AutoZone reported $4.24 billion in revenue for the quarter, below the $4.29 billion expected by analysts, according to FactSet. Sprout Social — Shares dropped 4% after Sprout Social responded to a Reuters report, citing sources familiar, that said its founders are in talks to take the social media strategy company private.

Persons: Lam, Macy's, Tony Spring, Marvin Ellison, BlackLine, FactSet, Keysight, AutoZone, Li Auto, Li, Yun Li, Jesse Pound, Sarah Min, Alex Harring, Lisa Han, Samantha Subin Organizations: AstraZeneca — U.S, Traffic Safety Administration, Dell Technologies, Citi, Baird, Palo Alto Networks, Keysight, EV, Reuters, Li Auto Locations: billings, —

☆ Stocks making the biggest moves premarket: Macy's, Lowe's, Peloton, Zoom Video and more
▼ + stars: | 2024-05-21 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

Macy's — The department store operator added about 3% after beating earnings estimates for the first quarter and raising its full-year outlook. AutoZone reported revenue of $4.24 billion while analysts polled by FactSet forecast $4.29 billion. XPeng — Shares gained 5% after the Chinese electric vehicle firm beat first-quarter estimates on the top and bottom line. The company reported revenue of 25.6 billion yuan, a 38.6% decrease from the fourth quarter of 2023. Zoom Video — Shares slipped nearly 3% even after the video conferencing company reported better-than-expected earnings and revenue for the first quarter.

Persons: Macy's, Lowe's, XPeng, Baird, David Koning, billings, Li Auto, Paul Lejuez, Wall, LSEG, — CNBC's Michelle Fox, Sarah Min, Jesse Pound Organizations: FactSet, Palo Alto Networks, —, Technologies, Lam Research, Citi Locations: Keysight

☆ Peloton ‘paused the use of’ Sean ‘Diddy’ Combs’ music on its platform
▼ + stars: | 2024-05-21 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +2 min

New York CNN —Peloton said it has paused the use of music recorded by Sean “Diddy” Combs on its workout class platform in response to a member of a private Facebook group for Peloton users. In the comment posted on Monday, the company said it also removed the Bad Boy Entertainment Artist Series, a line of classes and workouts using music from a record label founded by Combs, on its platform. “This means our Instructors are no longer using his music in any newly produced classes,” Peloton said in the post. I take full responsibility for my actions in that video,” Combs said in a video statement posted on Instagram on Sunday. In 2022, Peloton said it “indefinitely paused” playing Kanye West’s music from its streaming workout classes after he made antisemitic comments.

Persons: Sean “ Diddy ” Combs, Combs, — Cassie Ventura, ” Combs, “, Kanye, Buddy, CNN’s Jordan Valinsky, Alli Rosenbloom, Elizabeth Wagmeister Organizations: New, New York CNN, Bad Boy, CNN, Ventura Locations: New York

☆ 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

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