Peloton Interactive Inc (NASDAQ: PTON) is reportedly laying off a significant number of employees for the fourth time this year to reverse its increasing losses and save the struggling business.
Chief Executive Officer Barry McCarthy took the company's reigns in February and said he is giving the unprofitable company about another six months to turn itself around significantly.
If the company fails to turn around, Peloton likely isn't viable as a stand-alone company, the Wall Street Journal reported, citing the CEO.
The struggling fitness-equipment maker plans to cut about 500 jobs, roughly 12% of its workforce, leaving the firm with around 3,800 employees, less than half of what it had in 2021.
In July 2022, the company announced exiting all owned manufacturing, which involved reducing 500 employees in Taiwan.
In August 2022, PTON reduced 530 employees from its North American delivery workforce teams and 250 Member support positions in North America.
The company has reported six straight quarterly losses, with $1.2 billion in the most recent quarter.
Demand for Peloton's bikes and treadmills has plunged as people shift to pre-COVID routines.
Peloton last week announced to start selling its exercise equipment at Dick's Sporting Goods Inc (NYSE: DKS) stores as the latest effort to attract new customers.
Price Action: PTON shares are up 5.24% at $8.94 on the last check Thursday.
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Among top IPO stocks to watch, payroll leader Paycor is approaching a buy point in the ongoing stock market correction.
Analyst Cory Carpenter thinks the media and internet holding company's stock is conservatively worth $80 a share.
Mortgage rates have doubled, and the cost of buying a house has soared. The effect of that, deepened by technical factors, is just beginning to bite, affecting construction to mortgage lenders to the banks.
RETIREMENT WEEKLY From MarketWatch: Sticking with your Medicare plan this open enrollment season? You could pay a hefty price: Not everyone needs to make a switch during Medicare’s open enrollment period, but they should all review their current plans to make sure their coverage isn’t changing.
Here are the markets that will be open on Columbus Day, also recognized as Indigenous Peoples' Day, on Monday, Oct. 10.
The year 2022 has been a painful journey for semiconductor manufacturers. Following the example of AMD , Nvidia and Intel , which are the three main players in the sector, 2022 is a year to forget .Their valuations are in recession. Advanced Micro Devices (AMD) currently has a market value of $94.4 billion, which is a decrease of at least $83 billion compared to December 31, 2021.
PayPal is in trouble. "You are independently responsible for complying with all applicable laws in all of your actions related to your use of PayPal's services, regardless of the purpose of the use," the document, called "Acceptable Use of Policy," said.
A market rally attempt is reeling as the indexes plunged on Friday's jobs report. Tesla, AMD and On Semi sold off.
AMD stock is hitting 52-week lows as it reports disappointing preliminary revenue results. Here's when to buy the chipmaker's shares.
For the retail investor, the only certainty of our current market environment is uncertainty. Volatility is up, and the main indexes are showing deepening losses. As if that wasn't enough, at least one market bull is turning a bit more pessimistic. JPMorgan strategist Marko Kolanovic has been one of the more bullish voices on Wall Street in recent months, but current conditions have him pushing the timeline back. While he still believes that the S&P 500 can hit 4,800, or a 32% gain from current
The veteran telecom company is having a stellar year in many respects, but reason for concern has emerged.
In this article, we discuss the 10 best EV battery stocks to buy in late 2022. If you want to see more stocks in this selection, check out the 5 Best EV Battery Stocks to Buy in Late 2022. The share of EV sales has taken up more than 5% of the total new automobile […]
If you buy one between now and the end of October, you’ll earn a composite interest rate of 9.62%.
The right answer likely hinges on whether or not the Federal Reserve follows through with plans to raise its benchmark interest rate to 4.5% or higher, as market-based indicators and the Fed’s latest batch of projections anticipate. Global markets are on edge about the possibility of an emerging-markets crisis resulting from higher interest rates and a U.S. dollar at a 20 year high, or a slump in the housing market due to rising mortgage rates, or the collapse of a financial institution due to the worst bond market chaos in a generation. Fears that the Fed could cause something in the global economy or financial system to “break” have inspired some to question whether the Fed can successfully whip inflation by hiking interest rates by the most aggressive pace in decades without causing collateral damage.
Wall Street tends to give stock splits more weight than they should have. Annaly's reverse split, however, might be a genuine warning sign.
You would think this would be TIPS’ time to shine. Instead, the prices of Treasury inflation-protected securities—government bonds that are adjusted to keep up with inflation—have declined this year, even as inflation has soared. The comparable loss for ICE’s index of regular Treasury bonds was 13.5%.
In Musk v. Twitter, a part of the business life of the richest man in the world is revealed. Private messages exchanged with his inner circle immerse us into his process when he conceives an idea. The messages were released by the Delaware Chancery Court as part of the proceedings between the two parties.
Most S&P 500 investors consider Tesla stock to be the ultimate investment. But it turns out you could do better — much better.
What do Amazon, Microsoft, and Google parent Alphabet have in common? The company develops ready-made and customizable AI solutions for hundreds of companies across different industries, which can materially accelerate their adoption of advanced technology. Cloud-computing technology is key to businesses that operate online in any capacity, and the three leading providers of cloud services happen to be Amazon Web Services (AWS), Microsoft Azure, and Google Cloud.
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