Clothing inside a Peloton store in Palo Alto, California, US, on Monday, Aug. 5, 2024. David Paul Morris | Bloomberg | Getty ImagesPeloton posted a surprise profit for its fiscal fourth quarter on Thursday and outlined its strategy to return to growth under new CEO Peter Stern. Shares gained 6% in early trading. The connected fitness company, known for its stationary bikes and treadmills, posted a net income of $21.6 million, compared with a loss of $30.5 million in the year-earlier period. That’s thanks to better than expected sales but also, Peloton’s efforts to cut its operating expenses, which Stern said…
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Glass cover and materials stocks Corning and Coherent stand to gain from Apple’s plan to invest billions in the U.S., according to analysts. Both were named strategic partners as Apple CEO Tim Cook joined President Donald Trump at the White House on Wednesday and pledged to invest $600 billion domestically over a four-year period and step up its U.S. manufacturing. Corning and Coherent already have “long standing” ties with the iPhone maker’s U.S. plants, said Morgan Stanley analyst Meta Marshall. She noted that Corning already produces 100% of the cover glass for Apple’s phones and tablets, she noted. “There are…
FILE PHOTO: Crude oil tanker Nevskiy Prospect, owned by Russia’s leading tanker group Sovcomflot, transits the Bosphorus in Istanbul, Turkey September 6, 2020. Yoruk Isik | ReutersThe oil market is shrugging off President Donald Trump’s threats to impose heavy tariffs on countries that buy Russian energy exports.Trump has given Russia until Friday to agree to a ceasefire in Ukraine. If Moscow does not comply, the U.S. will impose 100% “secondary tariffs” on countries that buy Russian exports, the president has said. This would in theory force countries to choose between buying Russian oil or trading with the U.S.India, China and Turkey…
President Donald Trump in the Oval Office of the White House in Washington, Aug. 6, 2025.Bonnie Cash/UPI/Bloomberg via Getty ImagesAfter months of policy pivots, delays and negotiations from President Donald Trump, dozens of key U.S. trading partners were hit Thursday with “reciprocal” tariffs on their exports to the country.”IT’S MIDNIGHT!!! BILLIONS OF DOLLARS IN TARIFFS ARE NOW FLOWING INTO THE UNITED STATES OF AMERICA!” Trump wrote on social media platform Truth Social.But even as the duties, which were updated just last week, kick in, much uncertainty remains.Below is a list of the latest tariffs, with the U.S administration stating that all other…
A Duolingo logo is seen on a smartphone.Pavlo Gonchar | LightRocket | Getty ImagesDuolingo shares skyrocketed more than 30% after the language learning platform boosted its guidance due to strong user growth driven by artificial intelligence.The mobile learning platform hiked its full-year guidance to between $1.01 billion and $1.02 billion, up from a prior range of $987 million to $996 million. Duolingo also lifted its bookings guidance to between $1.15 billion and $1.16 billion.”We exceeded our own high expectations for bookings and revenue this quarter, and did it while expanding profitability,” said co-founder and CEO Luis von Ahn in a…
Sunrun could be on the cusp of surging, according to JPMorgan. JPMorgan reiterated an overweight rating on the solar stock on Thursday and raised its price target to $20 per share from $16. The firm’s forecast implies about a whopping 120% upside from Wednesday’s $9.07 close. Analyst Mark Strouse pointed to Sunrun’s strong second-quarter results as cause for the target hike. Earnings per share grew to $1.07 from 55 cents on a year-over-year basis, while revenue of $569.3 million beat a FactSet estimate of $559.4 million. Shares rallied more than 16% in the premarket following the release. RUN YTD mountain…
President Donald Trump’s plans to slap a 100% tariff on semiconductor imports didn’t wreak havoc on chip stocks. In fact, these shares are rising after the announcement, and here’s why. Trump said Wednesday companies that are “building in the United States” will be exempt from the heavy levies. Still, specifics about the plan, such as how much U.S. manufacturing a company needs to do in order to qualify for the tariff exemption, were not immediately clear. While the exact details are still pending, Wall Street analysts believe the news marked an overhang removal for the sector. On top of that, a…
Russia’s President Vladimir Putin shakes hands with United Arab Emirates’ President Sheikh Mohammed bin Zayed al-Nahyan during a meeting in Saint Petersburg, Russia, October 11, 2022.Pavel Bednyakov | Sputnik | via ReutersDUBAI, United Arab Emirates — United Arab Emirates President Mohammed bin Zayed al Nahyan traveled to Russia on Thursday for his second visit to the country in less than a year, to meet with Russian President Vladimir Putin in a sign of the ever-strengthening ties between the two states.The trip, according to Emirati state media service WAM, is focused on the two countries’ “strategic partnership” and on “ways to…
This report is from this week’s CNBC’s “Inside India” newsletter. Like what you see? You can subscribe here.The big storyIf refineries are the oil industry’s children, India’s got plenty of mouths to feed — and U.S. tariff threats over Russian crude are imperiling a distinctly affordable meal ticket.This week, U.S. President Donald Trump slapped an additional 25% of levies on New Delhi’s exports to the U.S., bringing total duties to 50%, citing India’s purchases of Russian oil. The White House leader flagged the issue in a CNBC interview on Tuesday: “They’re buying Russian oil, they’re fueling the war machine, and if…
Check out the companies making headlines before the bell. Eli Lilly — The pharmaceutical stock dropped more than 7% despite posting a second-quarter earnings and revenue beat . The company also raised guidance for both its full-year earnings and revenue. Meantime, Eli Lilly reported that the highest dose of an experimental daily pill helped patients with obesity lose around 12% of their body weight , or approximately 27 pounds, at 72 weeks in a late-stage trial. Peloton — Shares surged 10% after the exercise equipment manufacturer reported fiscal fourth-quarter revenue of $606.9 million, beating the $580.2 million analysts polled by…
