Business
Peloton is a ‘best in class’ fitness stock that can go up 93% from here, JMP says
The risk-reward profile for the fitness equipment maker appears “favorable” after its recent earnings disappointment, JMP analysts say. Source
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VW is looking to bring back the Scout brand as an electric vehicle
This image, from 2019, is of a refurbished Scout. The brand was originally built by International Harvester between 1961 and 1980. Future Publishing | Future Publishing | Getty Images Volkswagen is planning to resurrect the iconic “Scout” brand as an electric vehicle in the United States. In a report late Tuesday, the Wall Street Journal […]
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Shanghai’s big automakers saw production plunge by 75% in April after lockdowns began
Although Shanghai began in mid-April to prioritize several hundred companies for resuming work, foreign business organizations have said that doesn’t mean the factories can operate at full capacity. Tian Yuhao | China News Service | Getty Images BEIJING — Auto production plunged in April as Covid lockdowns halted nearly all non-essential business in the metropolis of […]
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Japan is set to open its doors in June, but some locals aren’t happy about it
As countries across Asia reopen to international travelers, Japan — one of the continent’s most popular destinations — remains firmly closed. That may soon change. Prime Minister Fumio Kishida announced Thursday at a news conference in London that Japan will ease border controls in June. Locals often celebrate the easing of pandemic-related border restrictions, but some […]
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Upstart CEO defends increased loan balance, says the AI lending platform’s model hasn’t changed
In an interview Tuesday with CNBC’s Jim Cramer, Upstart Holdings CEO David Girouard sought to downplay investor concerns about the increased loan balance held on the financial technology firm’s balance sheet at the end of its first quarter. Shares of the artificial intelligence lending platform plunged 56.42% Tuesday, closing at $33.61 apiece, one day after […]
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Cramer’s lightning round: AECOM is a buy
Funko Inc: “Many of us were confounded that the stock went down as low as it did.” AECOM: “This is a tremendous infrastructure play. … I think you should buy it.” Affirm Holdings Inc: “We have to hear if they have some secret weapon. … Let’s learn more when they report [their quarterly earnings].” Black […]
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Pfizer deal will help expand reach of migraine pill Nurtec, Biohaven CEO says
Pfizer’s purchase of migraine medication maker Biohaven Pharmaceutical represents a commitment to expand the reach of its calcitonin gene-related peptide (CGRP) franchise, CEO Vlad Coric told CNBC’s Jim Cramer on Tuesday. “There are still over 300,000 physicians in the U.S who write for the older triptans and have not yet written for one oral CGRP,” […]
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WWE looks to boost its sponsorship revenue as live events return and a key media deal expires
Chief Brand Officer and TV Personality of WWE, Stephanie McMahon delivers her keynote address at the opening of Sports Matters in conjunction with All That Matters 2016 in Singapore on September 14, 2016. Roslan Rahman | AFP | Getty Images WWE and industry analysts agree: The pro wrestling and media company can squeeze more revenue out […]
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Jim Cramer says the market is signaling to pick up beaten-down, profitable tech names
CNBC’s Jim Cramer on Tuesday stressed the importance of changing market strategies when the market shifts, saying right now the market says to buy beaten-down tech growth names. “Many tech companies that make real things and return capital to shareholders now do sell at reasonable prices after the tsunami of selling. … I’m talking about […]
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Peloton CEO says he was surprised by how deep some issues ran at the company
Barry McCarthy, chief financial officer at Spotify, attend annual Allen & Company Sun Valley Conference, July 11, 2018 in Sun Valley, Idaho. Drew Angerer | Getty Images When Barry McCarthy showed up to run Peloton about three months ago, he was surprised to learn just how discombobulated the supply chain was and how quickly the […]
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