GameStop (GME): The retailer missed on both the top and bottom lines as sales declined amid a gaming slowdown. Third-quarter net sales of $1.19 billion were down 8.5% from a year ago, driven by a 19% drop in software sales. GameStop reported losses of $94.7 million in the third quarter, its seventh quarterly loss in a row. Inventory was $1.13 billion, compared with $1.14 billion a year ago. Shares rose as much as 4% in extended trading on Wednesday. Rent the Runway (RENT): The company raised… Source link
Read More »Peloton, Oracle, Rent the Runway and more
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
Read More »Rent the Runway shares close below IPO price
Rent the Runway (RENT) started trading above its IPO price on Wednesday before dipping below that level over the course of the session. Shares closed the session down 8% at $19.29 each. The stock had opened at $23 per share after the fashion rental company priced its debut at $21 each, at the top of its marketed range. The company raised $357 million in the public offering. Rent the Runway offers subscribers “the world’s largest shared closet” of over 18,000 styles by more than 750… Source link
Read More »Netflix has ‘long runway ahead’ after ‘Squid Game’ success; Chappelle headwinds loom
Netflix’s (NFLX) Q3 subscriber growth estimates topped expectations following a slow start to the year — but there could be still be trouble looming for the streaming platform as controversies flare. Net subscriber additions totaled 4.38 million versus the 3.72 million expected. This represented a significant rebound from the second quarter, when just 1.5 million new paying users joined the streaming service. A particularly strong content slate helped fuel subscriber momentum, but not even… Source link
Read More »Why the airline industry recovery has a lot of runway to go – Yahoo Finance
The New York Times How Cuomo’s Team Tried to Tarnish One of His Accusers Days after Lindsey Boylan became the first woman to accuse Gov. Andrew Cuomo of sexual harassment, people tied to the governor started circulating an open letter that they hoped former staff members would sign. The letter was a full-on attack on Boylan’s credibility, suggesting that her accusations, made in a series of Twitter posts in December, were premeditated and politically motivated. It disclosed personnel… Source link
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