Yahoo News

Peloton (PTON) will look to a hardcore numbers man with major cred on Wall Street to stabilize its ship. The company will appoint Barry McCarthy as CEO, replacing founder and CEO John Foley who will move into the executive chairman role the company said on Tuesday. Peloton will also slash 2,800 jobs as it seeks to better align costs with slowing demand for its connected bikes. Peloton said it aims to achieve $800 million in cost savings while also slashing capital expenditures by $150 million… Source link

This article first appeared in the Morning Brief. Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. Subscribe Tuesday, February 8, 2022 Geopolitics are pushing oil toward $100, and that’s a problem for inflation Ukraine and OPEC have become inflation risks — of sorts. And Wall Street, preoccupied as it has become with a host of other issues like interest rates, earnings and economic growth, has yet to fully appreciate why they matter. Investors… Source link

ZHANGJIAKOU, China — Eileen Gu is one of the finest freeskiers in the world, graceful and daring and utterly fearless. Off the skis, she possesses model-level poise, speaks two languages fluently, plays deft piano, is preparing to attend Stanford this fall, and exhibits the kind of compassion and empathy that allows her millions of social media followers to feel they truly know her. In an Olympics short on Phelps/Biles-style American athletic royalty, she would be at the forefront of Team… Source link

Odell Beckham Jr. was in the middle of a Zoom call with reporters on Monday afternoon when the moderator informed him that a “special guest” was next in the queue. “What’s going on, man?” Beckham’s unidentified friend greeted him. For a few seconds, Beckham seemed unsure who it was. Then a bright smile lit up his bearded face when he realized who surprised him. Jarvis Landry, Beckham’s close friend and former Cleveland Browns teammate, crashed the Zoom call to wish the Los Angeles… Source link

(Bloomberg) — Nvidia Corp. is abandoning its purchase of Arm Ltd. from SoftBank Group Corp., according to people familiar with the situation, bowing to regulatory opposition and ending what would have been the chip industry’s largest deal. Most Read from Bloomberg SoftBank now plans to proceed with an initial public offering of Arm, in lieu of the deal, according to the people, who asked not to be identified because the move isn’t yet public. The IPO is expected to happen in the fiscal… Source link

Contracts on Wall Street’s key benchmarks crawled in post-market trading Monday after U.S. stocks closed lower to end a choppy session wrought by mixed corporate earnings and renewed Federal Reserve worries ahead of a fresh inflation report due out this week. Futures on all three main indexes were flat ahead of overnight trading after equities extended a streak of volatility that has become the norm this year so far. In Monday’s main session, the S&P 500 faltered after its best weekly rise… Source link

It appears that the final head coach opening of the offseason has been filled. According to ESPN’s Adam Schefter, the New Orleans Saints are promoting from within to replace Sean Payton, naming defensive coordinator Dennis Allen as their new head coach. Payton announced in late January that he would be stepping down as head coach, ending a 16-year run that included nine playoff appearances and one Super Bowl win. Allen, 49, has been the Saints’ defensive coordinator since 2015. Prior to that,… Source link

You’re already going to be watching when Los Angeles and Cincinnati square off this Sunday, so why not make the experience even more fun — and potentially profitable — by joining our free-to-play Big Game prop quiz. Put your predictive skills to the test with our low-risk, high-reward Yahoo Fantasy Slate contest where you can win up to $10K. And again, the best part is, it’s totally free to play! You’ll get to make picks on things like who wins the Big Game, will a QB win MVP and which… Source link

(Bloomberg) — Peter Thiel, the tech investor and conservative provocateur who has advised Mark Zuckerberg for nearly two decades at Facebook parent Meta Platforms Inc., will step down from the company’s board after Meta’s annual shareholder meeting in May. Most Read from Bloomberg Thiel, 54, who became a director in 2005 after an early investment in Facebook, plans to increase his political support of former President Donald Trump’s agenda during the 2022 election and doesn’t want his… Source link

Out with the old and entrenched board members at struggling Kohl’s, in with the new and open-minded. That’s the hot take from Yahoo Finance’s chat on Monday with activist investor Macellum Capital, which is back in the trenches slinging the mud at Kohl’s after a bizarre bit of posturing by the retailer Friday. “The board doesn’t appear to be working on shareholders’ behalf. It’s troubling to us, and we will continue to put pressure on the board by nominating another slate and give shareholders… Source link