Tag Archives: Peloton

Peloton (PTON): The company announced co-founders John Foley and Hisao Kushi are leaving the company as part of a wider executive shakeup, sending shares lower in after-hours trading. Former CEO John Foley stepped down as executive chairman of the board while Hisao Kushi resigned as Chief Legal Officer, effective Monday. In a note to employees, CEO and President Barry McCarthy thanked Foley and Kushi, writing “There wouldn’t be a Peloton without John Foley or Hisao Kushi… Through their… Source link

Bed Bath & Beyond (BBBY): Shares moved higher in after-hours trading, after surging nearly 25% on Monday, ahead of the retailer’s highly anticipated strategic update August 31. The Wall Street Journal reported last week that Bed Bath & Beyond is close to finalizing a loan of nearly $400 million as it seeks to boost liquidity. Shares of the meme stock have soared this month and on pace for a record monthly gain in August, with the stock rallying more than 170%. Bed Bath & Beyond’s gains… Source link

In the midst of 2021’s soaring tech IPO and SPAC market, there was one former Wall Street analyst telling anyone who would listen that something was wrong. David Trainer, the founder and CEO of research firm New Constructs, was focused on the fundamentals of the businesses behind the record valuations, and what he saw wasn’t promising. Trainer warned investors in 2021 that many high-flying tech stocks and IPOs at the time were trading at “tech bubble” levels. And even worse, some were… Source link

The LinkedIn posts of departing Peloton employees (and those people in the industry willing to help them) are piling up on Tuesday, one comes from the former CEO of Precor. Peloton spent $420 million to buy commercial fitness giant Precor in December 2020 as it sought to build out production capacity to support its then views of strong future demand. It stands as the company’s largest acquisition in its history. The acquisition gave Peloton 625,000 square feet of U.S. manufacturing capacity… Source link

An actor in an infamous Peloton advertisement.Peloton Peloton is firing over 2,800 employees — about 20% of its corporate staff. The severance package for those fired employees includes a one-year Peloton membership. CEO John Foley is also stepping down after a challenging quarter and slowing demand for the product. Peloton is firing over 2,800 employees — 20% of its corporate workforce — because of an ongoing downturn in the company’s business. As part of the severance plan for the over… Source link

Apple (APPL) shouldn’t let Peloton (PTON) end up in the hands of Nike or Amazon, contends Wedbush tech analyst Dan Ives. While Apple is known to be cautious on doing big deals (last one was $3 billion for headphone maker Beats in 2014), a bid for Peloton makes sense. “Acquiring Peloton would be a major strategic coup and catalyze the company’s aggressive health and fitness initiatives over the coming years. With ~2.8 million paid subscriptions today and a very strong/unique competitive moat,… Source link

(Bloomberg) — Peloton Interactive Inc. — the early pandemic home-fitness darling that’s become a potential takeover target following a sharp plunge in its stock price — could find a challenging climate if it opts for a deal with a big-technology firm. Most Read from Bloomberg One key consideration is regulatory scrutiny. There’s a chill against large transactions at the moment in Washington, where technology companies are being probed by regulators for their reach and influence and the… Source link

(Reuters) -Peloton Interactive Inc has drawn interest from potential buyers including e-commerce giant Amazon.com Inc, according to a person familiar with the matter, as the exercise bike maker struggles to maintain pandemic-fueled growth. Shares of Peloton surged 30% in extended trading on the news, which comes days after activist investor Blackwells Capital urged the company’s board to put it up for sale. Amazon is exploring an offer for Peloton and is speaking with advisers about whether… Source link

One year after Google revealed it now saw Google Stadia cloud gaming idea as a mere “technology platform for industry partners” rather than a true rival to Sony, Nintendo, and Microsoft, Business Insider is reporting that some Stadia gamers’ fears have come true: the entire Stadia project has been demoted within Google, and its new priority is to power experiences from companies including Peloton, Bungie, and Capcom rather than attracting more games to Stadia itself. In fact,… Source link

After a series of major execution missteps, Peloton (PTON) has a new activist investor knocking down its doors.  In a scathing new letter released on Monday, activist Blackwells Capital — which reportedly has amassed a less than 5% stake in the company — demanded Chairman, founder and CEO John Foley be immediately fired.  “Mr. Foley must be held accountable for his repeated failures to effectively lead Peloton,” Blackwells chief investment officer Jason Aintabi wrote in the letter…. Source link