Peloton Interactive Inc

Peloton managed to turn a gross profit off of its pricey connected fitness products for a second quarter in a row, but the company said Thursday it expects more challenges ahead after it failed to reach a number of goals CEO Barry McCarthy outlined a year ago. The retailer delivered mixed results for its holiday quarter, as it lost slightly more money per share than Wall Street expected but beat sales estimates.Here's how Peloton did in its second fiscal quarter compared with what Wall Street was anticipating, based on a…

Traders work on the floor of the New York Stock Exchange (NYSE) during morning trading on January 3, 2024, in New York City. Angela Weiss | AFP | Getty ImagesThis report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe here.What you need to know todayLabor market remains tightU.S. private sector jobs increased by 164,000 in December, according to payroll…

Peloton has launched a partnership with TikTok.Courtesy of: PelotonPeloton launched a partnership with TikTok on Thursday as part of its strategy to change its public perception and attract a broader array of customers as sales and profits fall. The partnership will create a new fitness hub on the social media platform dubbed "#TikTokFitness Powered by Peloton." It will feature short-form fitness videos, longer live classes, content from Peloton's instructors and collaborations with TikTok creators. Shares of Peloton rose…

Scooters take over SXSW in Austin, TXAs the last decade came to an end, it was easy for a young engineer to hop on a Bird scooter and ride it to a nearby WeWork office, home to the hottest new crypto startup.Then came Covid. Electric scooters and coworking spaces were no longer important, but there was a sudden need for tools to enable remote collaboration. Money started flowing into entertainment and education apps that consumers could tap while in lockdown. And while trading crypto.In both periods, money was cheap and…

Drew Angerer / Getty Images A year ago, there was little holiday cheer at Affirm. The point-of-sale lender was confronting rising interest rates, recession fears and weakening consumer spending. Affirm shares ended 2022 down 90%, wiping out billions of dollars in market value.Affirm investors are wrapping up 2023 in a much different mood.The stock skyrocketed 430% in 2023, as of Wednesday's close, outperforming all other U.S. tech companies valued at $5 billion or more. The next-best performer was Coinbase, which shot up…

When Peloton unveiled its 2019 holiday commercial depicting a husband who gifted his wife a stationary bike for Christmas, the ad was widely panned as sexist, dystopian and reminiscent of a hostage video.People took umbrage at the commercial's characters – a white, upper-middle-class family – and said it sent a range of dangerous messages about everything from gender norms to body dysmorphia. While the controversy eventually faded from the headlines, the public remembered. The ad solidified Peloton's nascent identity as a…

Maggie Lu uses a Peloton Tread treadmill during CES 2018 at the Las Vegas Convention Center on January 11, 2018 in Las Vegas, Nevada.Ethan Miller | Getty ImagesPeloton said Thursday that it would release a rear safety guard for its Tread+ treadmill, working with the U.S. Consumer Product Safety Commission.The stock rose more than 1% on the news.related investing newsThe Tread+ treadmill has been at the heart of safety concerns surrounding Peloton in recent years. Sales for the treadmill have been halted since a young…

Rafael Henrique | LightRocket | Getty ImagesPeloton shares tumbled Thursday after the U.S. Consumer Product Safety Commission said it is recalling 2.2 million of the company's bikes over injury and fall concerns.The stock dropped more than 6% Thursday morning.The seat post on Model Number PL01 bikes can detach and break unexpectedly during use, according to Peloton and the CPSC. Peloton has received 35 reports of unexpected seat breakages between January 2018 and this month. During that period, over two million units of…

A person walks past a Peloton store on January 20, 2022 in Coral Gables, Florida.Joe Raedle | Getty ImagesPeloton on Thursday reported a wider-than-expected loss in the fiscal third quarter, but pointed to signs of progress with its turnaround plan.The connected fitness company reported subscription growth and a reduction of free cash flow losses.Here's how the connected fitness equipment company did in the three months that end March 31 compared with what Wall Street was anticipating, based on a survey of analysts by…

Peloton Rowing MachineCourtesy: PelotonPeloton said Wednesday it hired former Twitter executive Dalana Brand to be its new chief people officer, as the fitness company continues its transformation and attempts to return to profitability. The hire – the second executive appointment to come from Twitter in recent weeks – completes the leadership team CEO Barry McCarthy has been building since he took over the company from founder John Foley last February, he said in a statement. "Talent density has been a top priority for…