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☆ 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

☆ Eddie Murphy Is Ready to Look Back
▼ + stars: | 2024-06-29 | by ( David Marchese | ) www.nytimes.com time to read: +1 min

But Murphy made his greatest mark in movies, where he reached new heights, for comedians and Black performers, of popularity and bankability. All of which is to say that American pop culture looked different after Eddie Murphy came along. Now he’s returning to the character that sent his career into the stratosphere with “Beverly Hills Cop: Axel F,” which comes to Netflix on July 3. It arrives 40 years after the first film in the series, in which Murphy stars as the wisecracking detective Axel Foley. In recent years, Murphy has been a somewhat enigmatic offscreen presence, but as I found out over the course of our two long conversations in the spring, he can be open and relaxed.

Persons: Murphy, ”, Murphy virtuosically, Eddie Murphy, he’s, Axel F, Axel Foley Organizations: Beverly Hills, Netflix Locations: Beverly

☆ McCormick CEO Brendan Foley on Q2 earnings beat and rising prices
▼ + stars: | 2024-06-27 | 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 EmailMcCormick CEO Brendan Foley on Q2 earnings beat and rising pricesBrendan Foley, McCormick CEO, joins 'Power Lunch' to discuss the company's rise in shares, spice commodities and the state of the consumer.

Persons: McCormick, Brendan Foley

☆ Every Pixar movie, ranked from worst to best — including 'Inside Out 2'
▼ + stars: | 2024-06-14 | by ( Jason Guerrasio | ) www.businessinsider.com time to read: 1 min

"A Bug's Life" (1998)"A Bug's Life." PixarIn the second movie ever released by Pixar, an ant named Flik (voiced by Dave Foley) sets out to find others to help save his colony against grasshoppers and ends up recruiting a unique group of allies. Though the movie was successful at the box office, with the release of DreamWorks' "Antz" a month earlier, you're more likely to remember the Lasseter-Katzenberg feud than the films.

Persons: Dave Foley, Lasseter Organizations: Pixar, DreamWorks

Arizona is a battleground state that both parties are desperate to win in November. And right now, supporters of abortion rights in the state are in the midst of gathering signatures to ensure that, along with the presidential race and a competitive Senate contest, enshrining the right to abortion in the state’s Constitution will be on the ballot this fall. The measure has broad support in the state, and Democrats are banking on that to drive a wide range of people to the polls to vote on the ballot measure — and, they hope, for Mr. Biden. But there’s no guarantee that will happen. For the next two weeks, we’re going to focus on how abortion rights could shape the 2024 election in Arizona.

Persons: Biden Locations: Arizona, state’s

☆ Dollar finds footing as traders turn to U.S. services data
▼ + stars: | 2024-06-05 | by ( ) www.cnbc.com time to read: +3 min

US Dollar notes and euro coins are arranged for a photograph on Sept. 11, 2017. The dollar steadied on Wednesday as traders pared back on riskier bets in emerging markets while waiting on an interest rate decision in Canada and on U.S. services data. Japanese real wages fell for a 25th straight month in April, data on Wednesday showed, as inflation outpaces nominal pay rises. The Swiss franc rose for a fourth straight session on the dollar overnight and at 0.8902 per dollar is close to breaking through its 200-day moving average. The New Zealand dollar was steady at $0.6173, while the Canadian dollar held the middle of a months-long range at C$1.3678 per dollar.

Persons: Jane Foley, Ryozo Himino, Narendra Modi, Chris Weston Organizations: Swiss, Bloomberg News, Bank of, Rabobank, BOJ, Westpac, New Zealand, African National Congress, Morena Locations: Canada, U.S, Bank of Japan, Asia, Japan, Morena

Elisa Gutierrez andAs he runs for re-election, President Biden is talking about one specific issue a lot: the economy. He emphasizes the nation’s low unemployment and slowing inflation, and even rolled out a catchy nickname for the good numbers: Bidenomics. The problem for Mr. Biden is that few Americans seem to agree that the economy is strong. They think the opposite.

Persons: Elisa Gutierrez, Biden

☆ Actor who plays Martha in 'Baby Reindeer' says she avoided knowing about the real stalker, and it's a 'shame' viewers have become 'armchair detectives'
▼ + stars: | 2024-05-16 | by ( Eammon Jacobs | ) www.businessinsider.com time to read: +2 min

Read previewJessica Gunning, the actor who plays Martha Scott in "Baby Reindeer," said she "avoid" knowing about the real woman her character was based on. Since it was released in April, "Baby Reindeer" has blown up, and has been watched over 60 million times, according to Netflix. The buzz grew as audiences tried to find the real woman who Scott was based on. Like Richard said when he posted that message on social media, that's not the point of our show." AdvertisementTrue crime shows like "Baby Reindeer" blur the line between entertainment and reality, something that Gunning understands.

Persons: —, Jessica Gunning, Martha Scott, Richard Gadd, Scott, Fiona Harvey, Piers Morgan, Gadd, Gunning, Harvey, I've, I'm, Richard, that's, Sean Foley, That's Organizations: Service, Business, Netflix, Hollywood

If the 2024 presidential election were a road trip, we would now be at the part where you start to wonder: Are we there yet? The matchup is set, but there’s still such a long way to go until November. And one of the things we’ve noticed about the questions that you’ve been sending in is that you’re starting to mix it up. You want to know what Donald Trump’s possible vice-presidential picks are, how down-ballot races are shaping up, and what difference celebrity endorsements could make.

Persons: you’ve, Donald Trump’s

Here’s what we know when it comes to the antiwar protests on college campuses and electoral politics: President Biden does seem to have a problem with young activists on the left. But whether or not he has a larger problem with young voters in general remains to be seen. Which is why one statement from a more mainstream group, saying the administration is on a “mistaken route,” is worth considering. The College Democrats of America. Which means, they’re the young people who would seem most likely to support Mr. Biden.

Persons: Biden, That’s, Mr Organizations: The College Democrats of America, Democratic National Convention

☆ 'Baby Reindeer' viewers watched a stalking drama — then hunted down 'the real Martha Scott.' A psychologist explains why true crime turns us into armchair detectives.
▼ + stars: | 2024-05-09 | by ( Eammon Jacobs | ) www.businessinsider.com time to read: +8 min

A psychologist told Business Insider why true crime turns viewers into armchair detectives. True crime blurs the line between real life and fictionRichard Gadd as Donny Dunn in "Baby Reindeer." AdvertisementThat's further complicated by some true crime audiences thinking they are helping to bring about justice by becoming armchair detectives. AdvertisementIn a piece published by The Guardian, titled "Why do women love true crime so much?" Ed Miller/NetflixThis raises the question of whether streaming services and TV networks are doing enough to protect those involved in true crime content.

Persons: —, Donny Dunn, Richard Gadd, Martha, Gadd, Martha Scott, He's, Piers Morgan, Fiona Harvey —, TikTok sleuths, Sean Foley, Foley, — sean foley, @SeanFoleyJ, Nicola Bulley, Andrew Snowden, Ed Miller, Ruth Tully, Tully, Nancy Jo Sales, influencers, Jessica Gunning, " Gadd, Benjamin King, it's, King, Errol Lindsay, Jeffrey Dahmer's, Jeffrey Dahmer, Rita Isbell, Netflix should've Organizations: Service, Rotten, Google, Netflix, Daily Mail, Police, Lancashire's Police, The Guardian, European, Research, Business Locations: British

☆ The US needs immigrants to fill jobs, but can't house them. Nowhere makes this more clear than New York City.
▼ + stars: | 2024-05-08 | by ( Eliza Relman | ) www.businessinsider.com time to read: +7 min

An influx of over 175,000 migrants in New York City has further exposed the city's housing crisis. AdvertisementNo country in the world attracts more immigrants than the US — and no place symbolizes this better than New York City. Pushing migrants out of sheltersNew York City has managed to absorb much larger influxes of immigrants in the past. The New York City comptroller's office says the Adams administration is intentionally making life more difficult for asylum-seekers as a way to force them out of the city. "It is just a system that is meant to really discourage people from getting help from the city and from exercising their rights that they have as residents of New York City."

Persons: Eric Adams, —, It's, it's, aren't, He's, who've, Elon Musk, Selcuk Acar, Susan Pozo, Pozo, Goldman Sachs, Adams, Celeste Hornbach, they've, they're, Sam Stanton, Hornbach Organizations: Service, New, New York City, Getty, Immigrants, Western Michigan University, Goldman Locations: New York City, Southern, New York, York, stoke, New

☆ British TV show host says 'people in the industry' know the identity of the sexual abuser portrayed in Netflix series 'Baby Reindeer'
▼ + stars: | 2024-05-05 | by ( Eve Crosbie | ) www.businessinsider.com time to read: +4 min

The identity of the man who sexually assaulted Richard Gadd is known by "people in the industry." That's according to British TV host Richard Osman, who spoke about "Baby Reindeer" on his podcast. There's been rampant speculation about who inspired the abusive comedy writer named Darrien. In "Baby Reindeer," an established television writer named Darrien O' Connor (Tom Goodman-Hill) grooms and abuses Donny (Richard Gadd). In "Baby Reindeer," an established television writer named Darrien (Tom Goodman-Hill) grooms and abuses Donny (Richard Gadd).

Persons: Richard Gadd, Richard Osman, There's, —, Donny Dunn, Martha, Gadd, Darrien O, Connor, Tom Goodman, Hill, Donny, Marina Hyde, Osman, Darrien, Netflix Osman, hasn't, Tony, Sean Foley, who's, he's, Instagram Foley Organizations: Service, Netflix, Local, Guardian Locations: British, Scottish, Darrien, Edinburgh

☆ Here's how much money you'd have lost if you invested $1,000 in Peloton when it went public
▼ + stars: | 2024-05-03 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +2 min

As the company searches for a new CEO, Peloton Chairperson Karen Boone and Peloton Director Chris Bruzzo will serve as interim co-CEOs. How much you'd have if you invested $1,000 in PelotonPeloton has come a long way from when the company was founded in 2012. If you had invested $1,000 in Peloton in 2019, 2021 or 2023, here's how much it would be worth now. CNBC's calculations are based on the company's May 2 closing share price of $3.13. And if you had invested $1,000 in Peloton in 2019 when it first went public, your investment would have decreased by about 89% and be worth about $108 as of May 2.

Persons: it's, Barry McCarthy, John Foley, He'll, Karen Boone, Chris Bruzzo Organizations: Interactive Locations: New York

☆ 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

☆ 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

For years, Wisconsin has been one of the most heavily gerrymandered states in the country, with legislative districts that overwhelmingly favored Republicans. In fact, the maps were so one-sided that, even though the state has a roughly equal share of Democrats and Republicans, Republicans were able to lock in large majorities in the State Assembly and Senate. But earlier this year, the state adopted new maps, which have significantly changed the political landscape in the state for Democrats. They are newly optimistic. So after months of hearing about President Biden’s problems motivating the Democratic base, we traveled to the critical battleground state of Wisconsin to ask: Have new maps led to new energy for Democrats, up and down the ballot?

Persons: Biden’s Organizations: Republicans, State Assembly, Senate, Democrats, Democratic Locations: Wisconsin, State

☆ Euro zone inflation steady at 2.4%, keeping June rate cut in play as economy returns to growth
▼ + stars: | 2024-04-30 | by ( Jenni Reid | ) www.cnbc.com time to read: +3 min

Price rises in the euro area held steady at 2.4% in April, while the economy returned to growth in the first quarter, according to flash figures published Tuesday. Headline inflation of 2.4% was in line with the forecast of economists polled by Reuters. It is the seventh straight month the headline rate has been below 3%, despite a slight rebound in the rate in December due to energy prices. Core inflation, excluding energy, food, alcohol and tobacco, dipped to 2.7% from 2.9% in March. However, Martinez noted the slightly lower-than-expected fall in core inflation and volatility in some areas of services that had increased the inflation rates in France and Italy.

Persons: Price, Gerardo Martinez, Martinez, Jane Foley, Foley Organizations: Reuters, European Central Bank, Gross, ECB, CNBC, BNP, Rabobank Locations: Europe, France, Italy

☆ 'Baby Reindeer' creator and star Richard Gadd wants everyone to stop speculating about the real people in his stalker drama: 'That's not the point'
▼ + stars: | 2024-04-23 | by ( Caralynn Matassa | ) www.businessinsider.com time to read: +3 min

Richard Gadd based "Baby Reindeer" on his experience of being stalked and sexually abused. Donny is stalked by an older woman named Martha Scott (played by Jessica Gunning), who is based on Gadd's real stalker. For legal reasons, Gadd hasn't revealed the real identity of his stalker, or the writer Darrien was based on. Gadd told GQ that he purposely concealed the identity of the real Martha within the series. He also told Variety that "due to where things ended in real life," he wasn't concerned about his real stalker attempting to contact him because of the show's popularity.

Persons: Richard Gadd, Gadd, —, Donny Dunn, Donny, Martha Scott, Jessica Gunning, Darrien, Tom Goodman, Hill, Gadd hasn't, hasn't, Sean Foley, That's, Instagram Sean Foley, Foley, Martha, " Gadd, GQ, What's Organizations: Service, Police Locations: British

According to the Biden campaign, the event brought in more than $25 million. That fund-raising haul further tips the scales in the money race between Donald J. Trump and Mr. Biden — a race that, so far, the Democrats have been winning. And when two candidates are as well known as Mr. Biden and Mr. Trump, there might be a limit to what money can buy. This week, we speak with the longtime Democratic donor Robert Wolf about the Radio City fund-raiser and why he has donated to Mr. Biden. And Shane Goldmacher, a national political correspondent for The New York Times, explains the vast financial gap between the candidates.

Persons: Biden, Barack Obama, Bill Clinton, Biden’s, Stephen Colbert, Mindy Kaling, Queen Latifah, Donald J, Trump, Biden —, hasn’t, Robert Wolf, Shane Goldmacher Organizations: Radio City Music Hall, Democratic, Radio City, Mr, The New York Times

Trian claims Disney's board has failed to generate sufficient returns in recent years as subscription streaming losses have mounted and traditional TV subscribers have declined. Early vote countBoth Disney and Trian received support from influential shareholders ahead of Wednesday's meeting. Roughly one-third of Disney's shareholders are retail shareholders, who historically vote in small numbers in annual meetings. The arrangement still raised questions about ValueAct's support for the company and whether Disney's board should have disclosed the prior relationship. WATCH: Disney board battle reaches final moments

Persons: Bob Iger, Mickey Mouse, Valerie Macon, Nelson Peltz, Jay Rasulo, They've, Maria Elena Lagomasino, Michael Froman, Peltz, Ike Perlmutter, Trian, Disney's, Iger, Bob Chapek, Patrick T, Adam Jeffery, Morgan Stanley, James Gorman, CNBC's, George Lucas, Laurene Powell Jobs, Lucas, Powell Jobs, Ken Squire, Rowe Price, Rowe, Mason Morfit's, ValueAct, Neuberger Berman, John Ferguson, Rasulo —, Glass Lewis, Iger's, Gorman, Jeremy Darroch, CNBC's Andrew Ross Sorkin, Heidi Gutman, Lagomasino, shouldn't, Blackwells, Rasulo, Jason Aintabi, John Foley, Jessica Schnell, Craig Hatkoff, Leah Solivan, ValueAct hasn't Organizations: AFP, Getty Images Disney, Voters, Trian Partners, Disney, PepsiCo, Marvel, SEC, Fallon, Bloomberg, Getty, CNBC Disney, CNBC, Star Wars, LucasArts, Pixar, BlackRock, Institutional, California Public Employees, Yacktman Asset Management, Saratoga Proxy, ISS, Sky, Trian Fund Management, NBCU, Bank, NBCUniversal, Green, Comcast Locations: Los Angeles, New York

☆ Louis Gossett Jr., 87, Dies; ‘An Officer and a Gentleman’ and ‘Roots’ Actor
▼ + stars: | 2024-03-29 | by ( Anita Gates | ) www.nytimes.com time to read: 1 min

Louis Gossett Jr., who took home an Academy Award for “An Officer and a Gentleman” and an Emmy for “Roots,” both times playing a mature man who guides a younger one taking on a new role — but in drastically different circumstances — died early Friday in Santa Monica, Calif. Mr. Gossett’s first cousin Neal L. Gossett confirmed the death. Mr. Gossett was 46 when he played Emil Foley, the Marine drill instructor from hell who ultimately shapes the humanity of an emotionally damaged young Naval aviation recruit (Richard Gere) — in “An Officer and a Gentleman” (1982). Reviewing the movie in The New York Times, Vincent Canby described Sergeant Foley as a cruel taskmaster “recycled as a man of recognizable cunning, dedication and humor” revealed in “the kind of performance that wins awards.”

Persons: Louis Gossett Jr, ”, —, Gossett’s, Neal L, Gossett, Emil Foley, Richard Gere, Vincent Canby, Sergeant Foley Organizations: Naval, New York Times Locations: Santa Monica, Calif, “

The people who don’t vote are often left out of the political conversation. Campaigns don’t spend much money on them, and the media doesn’t devote much coverage to them. But to understand a presidential contest like the 2024 race — one that threatens to be extremely close — we have to understand not just the people who show up to vote, but also those who sit out elections.

Organizations: don’t

☆ Jim Cramer shares his thoughts on Mastercard, Visa, Reddit, McCormick, Hershey and UPS
▼ + stars: | 2024-03-26 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +1 min

Jim Cramer's daily rapid fire looks at stocks in the news outside the CNBC Investing Club portfolio. Mastercard , Visa : The companies reached a settlement with merchants over swipe fees. "I think that Mastercard and Visa are both terrific stocks and this only makes them better." Reddit : Shares of the social media firm continue to rally since their initial public offering last week. McCormick : Shares surged nearly 10% after the spice maker delivered better-than-expected quarterly results and offered an upbeat guidance.

Persons: Jim Cramer's, They've, Jim Cramer, McCormick, Cramer, Brendan Foley Organizations: CNBC, Club, Mastercard, Visa, Hershey, BNP, United Parcel Service Locations: McCormick

There's also Kimberlyn, a Black on-air reporter at a conservative cable news outlet, played by Christina Elmore. Chozick also suggested the book “What it Takes: The Way to the White House” by Richard Ben Kramer. “You have these complicated, interesting women who all come from different backgrounds, different ideologies, different generations, and they are theoretically competitors, yet ultimately end up valuing each other over any of that," said Gugino. Throughout the episodes, the characters debate journalism ethics and ideologies and whether text, video or digital is the best medium. "Lola is arguing a point I’ve heard young journalists make or aspiring journalists make, that objectivity is sort of a myth.

Persons: Felicity Walker —, Hayden Wells Garrett, shucks, Scott Foley, Garrett, Mark Consuelos, Julie Plec, Amy Chozick, Hillary ”, ” Melissa Benoist, Sadie McCarthy, Hunter S, Thompson, Sadie's, Griffin Dunne, “, Carla Gugino, she's, There's, Christina Elmore, Lola, Natasha Behnam, Benoist, ”, “ I’ve, Chozick, Alexandra Pelosi, George, George W, Richard Ben Kramer, ” Lola, I’ve, Elmore, Foley, “ Felicity ”, Noel Organizations: —, New York Times, Texas Gov Locations: Grace, America

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