Month: May 2022
Peloton took $182 million impairment charge last quarter as inventories piled up
A Peloton stationary bike for sale at the company’s showroom in Dedham, Massachusetts, U.S., on Wednesday, Feb. 3, 2021. Adam Glanzman | Bloomberg | Getty Images Peloton’s goodwill took a $182 million hit in its previous fiscal quarter as inventory levels ballooned and consumer demand for its bikes and treadmills waned. During the three-month period […]
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Stocks making the biggest moves midday: Roblox, Electronic Arts, Coinbase, RealReal and more
An attendee tries out a Electronic Arts video game during the annual Studio Showcase media event at the company’s headquarters in Redwood City, California. Tony Avelar | Bloomberg | Getty Images Check out the companies making headlines in midday trading. Unity Software — The stock plunged more than 33% after the video game software company […]
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Here’s what we want to hear from Disney on earnings after the bell
Disney is slated to release second-quarter results after the bell Wednesday. Here’s what Jim Cramer and the CNBC Investing Club hopes to hear. Source
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Kohl’s shareholders vote to keep current slate of directors despite activist pressure
The Kohl’s logo is displayed on the exterior of a Kohl’s store on January 24, 2022 in San Rafael, California. Justin Sullivan | Getty Images Kohl’s shareholders voted to reelect the company’s current slate of 13 board directors, as the retailer faced mounting pressure from activists for an overhaul, Kohl’s announced Wednesday. The annual meeting […]
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Grayscale tells SEC that turning biggest bitcoin fund into ETF will unlock $8 billion for investors
Michael Sonnenshein, CEO, Grayscale Investments at the NYSE, April 18, 2022. Source: NYSE Grayscale, the asset manager running the world’s largest bitcoin fund, met privately with the Securities and Exchange Commission last week in an effort to persuade the regulator to approve the conversion of its flagship fund into an ETF, CNBC has learned. Turning […]
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Roblox pops 10% after initial earnings dip
A child looks back at a banner for Roblox, displayed to celebrate the company’s IPO, on the front facade of the New York Stock Exchange (NYSE) in New York, March 10, 2021. Brendan McDermid | Reuters Shares of Roblox were up 10% on Wednesday morning, marking a stark turnaround from an initial 10% plunge Tuesday […]
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European markets close higher despite hot U.S. inflation data; Stoxx 600 up 1.6%
LONDON — European stocks closed higher Wednesday, with investors largely shrugging off hotter-than-expected inflation data out of the U.S. The pan-European Stoxx 600 provisionally closed up 1.6%, with autos jumping 3.6% to lead gains as all sectors traded in positive territory except health care, which fell 1.2%. The gains in Europe come after some choppy […]
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Meet GM’s most expensive and powerful Cadillac Escalade yet, starting at $150,000
2023 Cadillac Escalade V-Series Cadillac DETROIT – General Motors’ newest Cadillac Escalade will be the most powerful and expensive version of the full-size SUV ever when it goes on sale this summer, starting at about $150,000. The Detroit automaker unveiled the 2023 Cadillac Escalade-V on Wednesday with a supercharged 6.2-liter V-8 engine that delivers 682 […]
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Southwest is upgrading its planes with faster Wi-Fi, bigger overhead bins and new drinks to woo travelers
OntheRunPhoto | iStock Editorial | Getty Images Southwest Airlines said it will spend more than $2 billion on improved passenger amenities like bigger overhead bins, faster internet and power outlets “in every seat,” in an effort to woo travelers as bookings rebound. The airline also plans to double the number of movies it offers travelers […]
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Five U.S. states order a metaverse casino with alleged ties to Russia to halt sale of NFTs
Zoom In IconArrows pointing outwards Source: Flamingo Casino Club Regulators in five states simultaneously filed emergency orders Wednesday against a virtual casino they say has ties to Russia and that has been operating in the metaverse, a digital world where participants can interact with each other, purchase products and even gamble. State law enforcement officials […]
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