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☆ Peloton identifies defect in seat posts after reports of injuries
▼ + stars: | 2023-05-05 | by ( ) www.reuters.com time to read: +1 min

May 4 (Reuters) - Peloton Interactive Inc (PTON.O) on Thursday said that it had identified a defect involving seat posts in its original stationary bike, with 12 reports of injuries, including one wrist fracture, as of April 30. Out of 2.4 million units sold in the U.S. and Canada as of April 30, there were 35 reports of the bike's seat post breaking during use, Peloton said in a filing with the U.S. Securities and Exchange Commission (SEC). The company said it had notified the U.S. Consumer Product Safety Commission (CPSC) about the "potential product safety issue" and is working with the regulator to finalise a corrective action plan. The fitness equipment maker in January agreed to pay a $19 million fine for failing to promptly report a defect with its Tread+ treadmill that could cause serious injury. Peloton on Thursday reported a wider-than-expected quarterly loss and warned it expects to sign up fewer members for the year, raising concerns about the fitness equipment maker's growth prospects.

☆ Peloton’s Progress in Narrowing Losses Falls Short of Expectations
▼ + stars: | 2023-05-04 | by ( Sabela Ojea | ) www.wsj.com time to read: 1 min

Peloton has been implementing restructuring measures including layoffs to stem losses. Photo: David Paul Morris/Bloomberg NewsPeloton Interactive reported a wider-than-expected loss in the latest quarter as it continues to sit on high levels of unsold web-connected bikes and treadmills. The New York company’s shift from primarily selling equipment to being one focused on subscriptions is also progressing slowly. Peloton ended the March quarter with about 3.1 million subscribers, up 74,000 from the end of December.

☆ CEO of fitness band maker Whoop mocks the demise of Amazon's Halo health device
▼ + stars: | 2023-05-04 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +5 min

The CEO of Whoop, a fitness band favored by athletes, is claiming victory over Amazon after the e-retailer pulled the plug on its line of Halo devices. Amazon said last week it will discontinue its Halo health and fitness devices, and shut down the Halo program, resulting in some employees being let go. Whoop CEO Will Ahmed said he views the demise of Halo as a win for his startup. He claimed the Halo wristband, which tracks users' physical activity, sleep and mood, was a knockoff of Whoop's own device. Whoop launched its first product, the Whoop 1.0, in 2015.

☆ Futures waver as PacWest slide offsets Fed pause optimism
▼ + stars: | 2023-05-04 | by ( ) www.reuters.com time to read: +3 min

The Fed over the past 14 months has raised rates by 500 basis points to tame price pressures in its most aggressive policy tightening since the 1980s. The KBW Regional Banking index (.KRX) and S&P 500 Banks index (.SPXBK) have lost around 29% and 15% so far in 2023. Investors will also monitor weekly jobless claims for further clues on the state of the labor market. Qualcomm Inc (QCOM.O) slumped 6.7% after third-quarter forecasts missed estimates, while Etsy Inc (ETSY.O) gained 3% on beating expectations for quarterly revenue. Reporting by Ankika Biswas in Bengaluru; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

☆ Stocks making the biggest moves midday: PacWest, Western Alliance, Paramount Global & more
▼ + stars: | 2023-05-04 | by ( Alex Harring | ) www.cnbc.com time to read: +4 min

Paramount Global — The media stock cratered more than 27% after the company slashed its dividend and reported earnings that fell short of analyst expectations. Paramount Global cut is dividend to 5 cents from 24 cents a share, marking its first reduction since 2009. PacWest , First Horizon , Western Alliance — Regional bank stocks were under heavy pressure again on Thursday. Royal Caribbean — The cruise line advanced 6% after the company beat Wall Street expectations for the quarter. The company reported a wider overall loss than expected due to tax expenses related to an IRS settlement.

☆ Morning Bid: Hike and hold, bank angst and Apple
▼ + stars: | 2023-05-04 | by ( ) www.reuters.com time to read: +5 min

As the Fed delivered what markets assume will be the last rate hike of a brutal 13-month, 500-basis-point tightening cycle, further aftershocks from the March bank blowups reverberated in the background. And given they had advance knowledge of next week's quarterly loan survey before Wednesday's rate decision, it suggests the bigger picture they see remains somewhat equivocal. Norway's central bank raised interest rates as expected and signalled more to come. Events to watch for on Thursday:* European Central Bank policy decision, statement and news conference* U.S. first quarter unit labor costs and productivity, April layoffs, March trade balance, weekly jobless claims. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Peloton shares plunge after company reports wider-than-expected loss
▼ + stars: | 2023-05-04 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +7 min

Peloton 's shares plummeted Thursday after the company reported a wider-than-expected loss in the fiscal third quarter and acknowledged an uncertain economic backdrop. The fitness company has sought to stabilize its business and find a path to profitability again, after seeing a sharp reversal of fortunes. The company ended its third quarter with about 3.1 million connected fitness subscriptions, up 5% from the year-ago period. Average net monthly connected fitness churn ticked up slightly from a year ago, too. In the fiscal fourth quarter, Peloton expects connected fitness subscriptions to rise, but revenue to drop.

☆ Stocks making the biggest moves before the bell: Paramount, PacWest, Shopify & more
▼ + stars: | 2023-05-04 | by ( Peter Schacknow | ) www.cnbc.com time to read: +2 min

Check out the companies making headlines in premarket trading. PacWest Bancorp – PacWest tumbled 37% in premarket trading after the banking company said it was considering various strategic options. Shopify – The e-commerce platform reported-better-than expected quarterly results and also announced the sale of parts of its fulfillment operation as well as its logistics division. Qualcomm – Qualcomm slumped 7.7% in premarket trading after the chipmaker issued a weaker than expected current quarter forecast, hurt by sagging smartphone sales. Qualcomm did report better than expected revenue for its latest quarter, with earnings matching Wall Street estimates.

Companies Peloton Interactive Inc FollowNEW YORK, May 2 (Reuters) - A U.S. judge on Tuesday refused to let Peloton Interactive Inc (PTON.O) customers pursue a class action accusing the bike and treadmill maker of misleading them about the "ever-growing" size of its library of on-demand fitness classes. The decision is a victory for New York-based Peloton, because class actions can allow for greater recoveries at lower cost than when plaintiffs sue individually. According to the customers, Peloton knew this could happen, yet kept charging full price for products containing copyrighted songs by Adele, Beyoncé, Luke Bryan, Drake, Ariana Grande, Madonna, Justin Timberlake, Jay Z and other artists. Peloton settled the licensing lawsuit by the National Music Publishers' Association and 14 members in February 2020. The case is Passman et al v Peloton Interactive Inc, U.S. District Court, Southern District of New York, No.

☆ Austin Killips: Cycling governing body defends transgender policy after first openly trans woman wins Tour of the Gila
▼ + stars: | 2023-05-03 | by ( George Ramsay | ) edition.cnn.com time to read: +2 min

CNN —Cycling’s governing body – the UCI – has defended its transgender policy after Austin Killips won overall victory in the recent Tour of the Gila in New Mexico. Killips is the first openly transgender woman to win an official UCI women’s stage race, according to the Tour of the Gila website. Killips also won the Queen of the Mountains polka dot jersey, which is awarded to the best climber. “The UCI acknowledges that transgender athletes may wish to compete in accordance with their gender identity,” the governing body said in a statement sent to CNN on Wednesday. Among the critics of Killips’ victory on Sunday was former Olympic cyclist Inga Thompson, who said on Twitter that the UCI is “effectively killing off women’s cycling” with its policy on transgender athletes competing in women’s categories.

☆ Peloton instructor Tunde Oyeneyin's No. 1 tip for avoiding burnout: 'Invest in yourself'
▼ + stars: | 2023-05-02 | by ( Nicolas Vega | ) www.cnbc.com time to read: +1 min

Star Peloton instructor Tunde Oyeneyin keeps a busy schedule. In addition to teaching fitness classes, the 37-year-old is a podcast host, author and Nike athlete ambassador. Needless to say, she knows a thing or two about burnout. Starting her day by focusing on herself rather than her professional responsibilities allows her to "gain control of my conscious mind." "It makes me realize that every single thing on the list, for the most part, can ultimately wait," she says.

☆ Peloton superstar Robin Arzón on reinventing herself and building her Peloton brand
▼ + stars: | 2023-05-02 | 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 EmailPeloton superstar Robin Arzón on reinventing herself and building her Peloton brandCNBC's Bob Pisani sat down with Peloton Head Instructor and VP of Fitness Programming Robin Arzón at BTIG's 17th Charity Day to discuss building a brand, empowering others, turning trauma into strength - and the joys of juggling motherhood and a multi-pronged career in fitness.

☆ A solid start to earnings season will be put to the test in the week ahead
▼ + stars: | 2023-04-29 | by ( Zev Fima | ) www.cnbc.com time to read: +14 min

The biggest week of this earnings season showed us that things aren't as bad as many feared. The week ahead of earnings, including several more Club names, should tell us more. The results are always important, but it's the guidance and management commentary we will really hone in on to better understand the path ahead. In Amazon's case, a solid first quarter for its AWS cloud business was overshadowed by management seeing a material slowdown in April. ET: Nonfarm Payrolls Looking back It was the biggest week of this earnings season for the Club as several of our mega-cap holdings and industry bellwethers reported results.

☆ Markets next week have to contend with how aggressive the Fed drumbeat sounds
▼ + stars: | 2023-04-28 | by ( Scott Schnipper | ) www.cnbc.com time to read: +8 min

"Is Chairman Powell going to say, 'It is likely that we pause now and assess what the economy is going to do?' "The tone on that balance is going to be very critical to how the market is going to move next week." "What is [Powell] going to do? June Fed meeting The betting on Wall Street right now is that, after next week, the Fed will standpat at its next meeting six weeks later, on June 13-14. Beyond Apple, some 161 other companies in the S & P 500 index are scheduled to report latest-quarter results next week.

CNBC's annual Stock Draft kicked off Thursday on "Power Lunch," with candidates opting for a wide range of stocks from AI to consumer plays. Nvidia WWE wrestler Charlotte Flair bet on artificial intelligence with her first pick: Nvidia. Amazon Olympic swimmer Erica Sullivan picked Amazon, saying she likes the e-commerce giant's service and uses it regularly. General Electric Sullivan chose General Electric for her second pick. General Electric shares are higher by more than 49% in 2023.

☆ Three Stock Lunch: Chipotle, Charles Schwab and Peloton
▼ + stars: | 2023-04-26 | 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 EmailThree Stock Lunch: Chipotle, Charles Schwab and PelotonDelano Saporu, New Street Advisors Group, joins 'Power Lunch' to discuss Saporu's investing take on three stocks.

☆ Stocks making the biggest moves midday: Rivian, Western Alliance, Peloton and more
▼ + stars: | 2023-04-19 | by ( Pia Singh | ) www.cnbc.com time to read: +6 min

Netflix posted a quarterly revenue of $8.16 billion, slightly below the $8.18 billion expectation per Refinitiv. Zion rose 4.3% ahead of its earnings report after the bell. Tesla — The electric vehicle maker pulled back 1 % ahead of its scheduled quarterly earnings after Wednesday's closing bell. CDW issued quarterly revenue guidance of $5.1 billion, which came out below the $5.58 billion consensus estimate from analysts surveyed by FactSet. Citizens Financial reported earnings per share of $1, falling short of analysts' expectations of $1.13, according to Refinitiv data.

☆ Here are Wednesday's biggest analyst calls: Netflix, Apple, Tesla, Amazon, Bowlero, Exxon & more
▼ + stars: | 2023-04-19 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

UBS upgrades Exxon to buy from neutral UBS said in its upgrade of the oil and gas giant that it likes the company's balance sheet. Bank of America reiterates Meta as buy Bank of America says it likes "self-help stocks in an uncertain macro." Bank of America reiterates Nvidia as buy Bank of America raised its price target on the AI beneficiary to $340 per share from $310. Bank of America downgrades CDW to neutral from buy Bank of America downgraded the technology products company after its disappointing earnings report on Tuesday. Wolfe reiterates Amazon as outperform Wolfe says it's standing by its outperform rating on the stock heading into earnings next week. "

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☆ Lululemon has approached Hydrow about a possible sale of Mirror
▼ + stars: | 2023-04-18 | by ( Gabrielle Fonrouge | ) www.cnbc.com time to read: +3 min

Lululemon is looking to sell its at-home fitness business Mirror and has approached competitor Hydrow as a potential buyer, CNBC has learned. A Lululemon company spokesperson said they "don't comment on rumors or speculation." Lululemon announced it would acquire Mirror for $500 million at the height of the at-home fitness bonanza in June 2020. The segment has since rebranded as lululemon Studio but has been weighing on the fitness apparel company's balance sheet. "We view lululemon Studio in the same way we view any innovation.

☆ I'm a former Microsoft VP of HR. Here are the real reasons why layoffs are happening and how much longer they'll last.
▼ + stars: | 2023-04-17 | by ( Chris Williams | ) www.businessinsider.com time to read: +6 min

Some of the layoffs we've seen have included long-time employees years from their most meaningful contributions. The opticsSome of the layoffs we've seen in tech are ones that the companies have probably wished they could do for years. The future is brightWe are in a season of layoffs, and it's not clear we've seen the last or worst of it. That said, there is no reason to see the layoffs as a harbinger of doom and gloom for the tech world. Chris Williams is the former VP of HR at Microsoft and a leadership advisor, podcaster, TikTok creator, and author.

☆ Phil Harrison, head of Google's failed Stadia gaming service, has quietly left the company
▼ + stars: | 2023-04-05 | by ( Hugh Langley | ) www.businessinsider.com time to read: +2 min

Phil Harrison, formerly the head of Google Stadia, has departed the company. Google announced in September it would close down its cloud streaming service. Phil Harrison, who ran Google's now-defunct cloud gaming service Stadia, has left the company. In September, Google announced it would wind down Stadia, which it launched in 2019. Back then, Google pitched Stadia as the future of gaming, giving users access to high-quality games without the need to purchase expensive hardware.

☆ Peloton shares are on the up — but will it last? Here's what Wall Street thinks
▼ + stars: | 2023-03-31 | by ( Ganesh Rao | ) www.cnbc.com time to read: +4 min

Shares of Peloton Interactive are making a comeback, with the stock up by 30% this year. But many investors who bought into the connected fitness company during the pandemic are still nursing big losses; shares are down 93% from their all-time high in late 2020, currently trading around $10.40. The consensus price target of 30 analysts ($17) points toward a 63% upside over the next 12 months. They also noted that digital-only subscriptions, which are separate from the connected fitness subscribers, fell marginally in the latest quarter. UBS' price target of $8 represents a more than 20% drop from the current share price.

☆ People Started Buying Crocs During the Pandemic. They Can’t Stop.
▼ + stars: | 2023-03-27 | by ( Jordyn Holman | ) www.nytimes.com time to read: 1 min

Like Peloton, Etsy and Zoom, Crocs saw its business boom during the early days of the coronavirus pandemic. The company’s aesthetically questionable but easily slipped-on clogs were the perfect footwear for Americans puttering around their homes, gardens and kitchens during quarantine. arts projects and resumed in-person meetings as a sense of normalcy returned to the world, they have kept their Crocs on. Maggwa Ndugga of Raleigh, N.C., bought his first pair in 2020 and now has five. And he is spreading his enthusiasm, giving his parents and sisters each a pair for Christmas.

☆ Head Peloton instructor Robin Arzón shares the 5-point self-audit she uses before making big career moves
▼ + stars: | 2023-03-21 | by ( Renée Onque | ) www.cnbc.com time to read: +1 min

It takes a lot of courage to walk away from your job and enter an entirely different field. "It is absolutely possible to turn our passion into our daily purpose and into our job," says Arzón. Her newfound interests inspired her to become a running coach, personal trainer, Pilates instructor and more. Arzón's path inevitably led her to her current role as Vice President of Fitness Programming and Head Instructor at Peloton. The thought-provoking questions she asked herself before making the big career change — what Arzón calls an audit — are included in her new book, "Welcome, Hustler: An Empowerment Journal," which releases this September.

☆ Peloton owners in Australia will have loans forgiven from Affirm as the lender exits the country
▼ + stars: | 2023-03-21 | by ( Samantha Delouya | ) www.businessinsider.com time to read: +2 min

Peloton owners in Australia who paid in installments will get to keep their equipment but no longer have to pay. This comes after Peloton's financing partner, Affirm, said it would cease operations in the country. Australia is the first country where Affirm has closed operations. The loans were processed through Peloton's "buy now, pay later" partner, fintech company Affirm, which announced last month it would shut down operations in Australia. In a statement to Insider, Affirm said, "international expansion is a key part of Affirm's long-term growth plans to scale our network and further expand our total addressable market.

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