David Einhorn’s Greenlight Capital shed almost all of its Peloton shares after owning the exercise bike startup for a year, according to a new 13F filing. His hedge fund reduced exposure to Peloton by more than 96% to a stake worth merely $1.2 million at the end of June, the filing showed. The star manager first invested in the tech name in the second quarter of 2024. He even pitched the stock at the Robin Hood Investors Conference while riding a Peloton bike on stage, saying shares were “significantly undervalued.” Earlier this month, the company posted a surprise profit for its fiscal fourth…
Author: usaeverydaylife
Cisco Systems says it is not using artificial intelligence to reduce headcount — a stark contrast to many of its Big Tech peers. “I don’t want to get rid of a bunch of people right now,” Cisco CEO Chuck Robbins told CNBC on Thursday after being asked by Jim Cramer about the potential savings offered by agentic AI. Even more so in the case of engineers, Robbins added, “I just want our engineers that we have today to innovate faster and be more productive. That gives us a competitive advantage.” Agentic AI refers to digital systems that can bring human-like…
The John Deere logo is displayed as attendees view a 5105M utility tractor at the Deere & Co. booth during the World Ag Expo at the International Agri-Center in Tulare, California on February 11, 2025.Patrick T. Fallon | AFP | Getty ImagesJohn Deere is warning that tariff costs for the agricultural machinery company could reach a total of $600 million for the fiscal 2025 year.The company released its fiscal third-quarter earnings report Thursday, beating on the top and bottom lines but posting significant year-over-year decreases in net income and sales.The stock sank roughly 7% in midday trading.The company noted that…
Baupost Group’s Seth Klarman picked up several beaten-down stocks last quarter, while increasing its big stake in Google parent Alphabet to take advantage of the rebound in technology. The widely-followed hedge fund manager took a new, $154 million stake in fintech services provider Fiserv , according to the latest regulatory filing. Fiserv recently nosedived after cutting its forecast for annual revenue growth, bringing the stock’s six-month loss to 42%. Baupost also added a $51 million bet on packaging firm Amcor Plc and a $24 million stake in Brazilian payments company PagSeguro Digital in the second quarter. The Boston-based hedge fund…
Target has added new brands to its beauty department. At a growing number of stores, it also has mini Ulta Beauty shops with prestige brands.Melissa Repko | CNBCUlta Beauty and Target said Thursday that they have decided to end a deal that opened makeup and beauty shops in hundreds of Target’s stores.Shares of Target fell about 2% in early trading, while Ulta’s stock slid about 1%.In a news release, the companies said the partnership — which also added some of Ulta’s merchandise to Target’s website — will end in August 2026. Target had added more than 600 Ulta Beauty shops…
Check out the companies making the biggest moves midday: Miami International Holdings — The parent of Miami-based exchange operator MIAX surged more than 43% in its public market debut at the New York Stock Exchange. The company priced its initial public offering at $23 per share. It last traded above $31. Paramount Skydance — The media company fell more than 6%, giving back some of Wednesday’s stunning surge. Paramount rallied 37% in the previous session, marking its best day ever. Amcor — The packaging company plummeted more than 14% after its fiscal fourth-quarter results missed analysts’ estimates. The company earned…
People walk past a Coach store on Madison Avenue in New York. Carlo Allegri | ReutersShares of Coach and Kate Spade parent Tapestry plunged Thursday after the company said tariffs will bite into its profits even as sales grow.The handbag, shoe and accessory maker said costs from higher duties will total $160 million for its coming fiscal year and drag on its profits. It said it expects full-year fiscal 2026 earnings of $5.30 to $5.45 per share, while analysts polled by FactSet were looking for $5.49.On the company’s earnings call, Chief Financial Officer Scott Roe said sales trends have been…
(This is The Best Stocks in the Market , brought to you by Josh Brown and Sean Russo of Ritholtz Wealth Management.) Josh — Computer assisted design (CAD) is one of the most critical software niches in most industries, turning out finished products, from aerospace and defense to iPhones and laptops, tractors and skyscrapers. If it’s built in the physical world, it’s likely to be built with CAD assisting the designers during the process. Many investors are familiar with Autodesk, the largest player in the space, but we’re going to tell you about a competitor whose stock has recently been…
Alexander Karp, chief executive officer and co-founder of Palantir Technologies Inc.Scott Eelis | Bloomberg | Getty ImagesPalantir’s astronomical rise since its public debut on the New York Stock Exchange in a 2020 direct listing has been nothing short of a whirlwind.Over nearly five years, the Denver-based company, whose cofounders include renowned venture capitalist Peter Thiel and current CEO Alex Karp, has surged more than 1,700%. At the same time, its valuation has broken new highs, dwarfing some of the world’s technology behemoths with far greater revenues.The artificial intelligence-powered software company continued its ascent last week after posting its first quarter…
U.S. Attorney General Pam Bondi speaks next to U.S. President Donald Trump during a press conference about deploying federal law enforcement agents in Washington to bolster the local police presence, in the Press Briefing Room at the White House, in Washington D.C., U.S., August 11, 2025. Jonathan Ernst | ReutersThe man facing a felony federal assault charge for allegedly chucking a Subway sandwich at a U.S. Customs and Border Protection agent in Washington, D.C., was an employee at the Department of Justice, Attorney General Pam Bondi said Thursday.The man, identified in court documents as Sean Charles Dunn, has been fired,…
