Peloton said Thursday it is digging itself out of the red and eked out a slight sales increase for the first time in nine quarters as it slashed its overall losses. The company’s shares spiked 35% on Thursday.The beleaguered connected fitness company, which two board members have run since former CEO Barry McCarthy resigned earlier this year, saw sales grow by 0.2% during its fiscal fourth quarter. While only a modest uptick, it’s the first time Peloton posted year-over-year revenue growth since its 2021 holiday quarter. The company also indicated it’s ready to focus on profitability over growth with significant cuts to…
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The global liquefied natural gas market will continue to grow robustly through 2030 as capacity ramps up, lowering prices and expanding the market in countries where coal is currently cheaper, according to Wells Fargo. The supply of LNG worldwide should increase by an average of 31 million metric tons per year through the end of the decade — with capacity expanding by 30% or more from 2026 to 2028 — as new liquefaction plants come online, Wells’ team of analysts led by Roger Read told clients Tuesday. In total, global LNG capacity is expected to exceed 600 million metric tons…
The final trades of the day with CNBC’s Brian Sullivan and the Fast Money traders. Source link
US President Joe Biden holds up a copy of the Republican’s FY2024 budget as he delivers remarks on Bidenomics and Republican economic policy during an event at Prince George’s Community College, in Largo, Maryland, United States on September 14, 2023. Kyle Mazza | Anadolu Agency | Getty ImagesWith an economy posting significant GDP growth, a resilient labor market, and inflation and gas prices falling sharply across the nation, one of the early challenges for President Joe Biden’s reelection campaign has been the disconnect between actual economic progress and the outlook of Americans. You can add America’s small business owners on Main…
You don’t need a quiet, harmonious household to raise the next Steve Jobs or Frida Kahlo.Kids who grow up with parents who regularly disagree — in a constructive fashion — can become more creative adults, Adam Grant, an organizational psychologist at the Wharton School of the University of Pennsylvania recently told the “What Now? with Trevor Noah” podcast.Such children can also become more mentally resilient, Grant wrote in a 2017 New York Times essay — a skill that highly successful adults often develop early in life, experts say.By arguing, Grant doesn’t mean yelling and screaming. Instead, the idea is to…
Canada’s Prime Minister Justin Trudeau speaks during a press conference following a cabinet shuffle, at Rideau Hall, in Ottawa, Ontario, Canada, July 26, 2023.Blair Gable | ReutersCanada said on Monday it would impose 100% import tariffs on China-made electric vehicles, following in the footsteps of the U.S. and the European Union in slapping taxes over concerns related to unfair subsidies.Canada already imposes 6.1% tariff on EVs manufactured in China and imported into Canada, the government said on Monday. The 100% tariff will come into effect from Oct. 1.The country will also put a 25% tariff on China-made steel and aluminum…
The fire service dive team leaves port heading for the dive site for the Bayesian off the coast of Porticello, Sicily, on the third day of the search for six tourists missing after the luxury yacht Bayesian sank in a storm on Monday whilst moored around half a mile off the coast. Jonathan Brady | PA Images | Getty ImagesFive bodies have been recovered from the wreck of the superyacht that sank in a storm early Monday morning, according to NBC News and Sky News.Divers recovered four bodies Wednesday from inside the superyacht, Salvatore Cocina, director of the island’s Civil Protection…
ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via EmailAriane Gorin, Expedia CEO, joins ‘Squawk on the Street’ to discuss the company’s quarterly earnings results, where consumers are trading down, and where the weakness in the consumer is coming from.04:02Mon, Aug 12 202410:53 AM EDT Source link
Check out the companies making headlines before the bell: Paramount Global — The media conglomerate’s stock dropped nearly 5% after Edgar Bronfman Jr. withdrew his bid for the media company. This clears a path for Skydance Media to take over Shari Redstone’s media empire. Paramount expects the deal with Skydance to close in the first half of 2025. Cava Group — The restaurant stock fell more than 8% after several corporate insiders and a major shareholder disclosed in filings that they were selling some of their holdings. JD.com — Shares of the Chinese e-commerce stock climbed about 3% after the…
Cava on Thursday raised its full-year outlook as its restaurants reported strong traffic, fueling better-than-expected quarterly earnings and revenue.Shares of the company rose 9% in extended trading. The stock has more than doubled its value this year, bringing Cava’s market cap up to about $11.6 billion, as of Thursday’s close.Here is what the company reported for the quarter that ended July 14 compared to what Wall Street was expecting, based on a survey of analysts by LSEG:Earnings per share: 17 cents vs. 13 cents expectedRevenue: $233 million vs. $220 million expectedThe Mediterranean restaurant chain reported fiscal second-quarter net income of $19.7…