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5 things to know before the stock market opens Friday, Jan. 21

Investors need the following news, analysis and trends to help them start trading: 1. Wall Street seems to have an opportunity to continue its losing streak Traders are seen working on the New York Stock Exchange’s floor (NYSE) in New York City on January 20, 2022. Spencer Platt | Getty Images U.S. stock futuresThe Friday […]

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Peloton CEO says company is taking ‘significant corrective actions’

John Foley (co-founder, chief executive officer, Peloton Interactive Inc.) poses for photographs during Peloton Interactive Inc.’s initial public offer (IPO). This was taken in front of Nasdaq in New York, U.S.A, Thursday Sept. 26, 2019. Getty Images| Bloomberg | Getty Images PelotonAccording to Thursday’s announcement, its fiscal second-quarter revenues will remain within the previously projected […]

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Peloton’s market value drops by $2.5 billion as shares close below IPO price

Peloton Interactive Inc. signs were displayed on a monitor at the Nasdaq Marketplace in New York (USA) during Thursday September 26, 2019. Bloomberg | Bloomberg | Getty Images The shares of PelotonIt closed at $24.22 Thursday afternoon, down 23.9%. This wiped out approximately $2.5 billion of its market capitalization. Sharply falling below $29, the mark […]

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Peloton to pause production of its Bikes, treadmills as demand wanes

Cari Gundee uses her Peloton to exercise at home in San Anselmo on April 6, 2020. Due to the coronavirus (COVID-19), more people turn to Peloton. Getty Images| Getty Images PelotonAccording to CNBC internal documents, the company is suspending temporarily production of connected products for fitness because consumer demand has declined and to reduce costs. […]

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Peloton insiders sold nearly $500 million in stock before its big drop

PelotonAccording to reports filed with the Securities and Exchange Commission, executives and insiders had sold almost $500 million of their stock prior to its major decline. Stocks of the company are down over 80% from their highs in 2013 and hit a 52 week low Tuesday at $29.11. In the three months preceding the dramatic […]

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Activision Blizzard, Goldman Sachs, Peloton, Moderna and more

As the city progresses into Phase 3, a sign for Peloton is visible near someone riding a bike. This was in response to restrictions that were imposed by the New York City coronavirus pandemic. Alexi Rosenfeld | Getty Images These are the headline-grabbing companies in midday trading. Activision Blizzard — The video game giant saw […]

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Peloton hires McKinsey to review cost structure as equipment sales slow

Peloton is working with the management consulting group McKinsey & Co. to review its cost structure and potentially eliminate some jobs, CNBC has learned. According to CNBC, job cuts were the topic of a call that Peloton’s management team had with them recently. CNBC obtained a recording of a call with Peloton’s management team. It was […]

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Alibaba, Citrix, 23andMe and others

Take a look at the businesses making headlines earlier than the bell: Alibaba (BABA) – Alibaba fell 3.8% within the premarket after a Reuters report mentioned the Biden administration was reviewing the China-based firm’s cloud unit to see if it poses a threat to US nationwide safety. The probe is alleged to concentrate on how […]