Peloton regains momentum as premarket trading sends shares up 22 per cent amid takeover rumours February 7, 2022 Peloton shares soared 22 per cent in premarket trading today after weekend reports of takeover interest from Amazon and Nike. Amazon is exploring an offer for Peloton, a source told Reuters on Friday. The Financial Times and the BBC also reported sportswear company Nike was weighing a bid for Peloton, which touched new records last [...]
Amazon and Nike eye Peloton bids after valuation plunges from $50bn to $8bn February 5, 2022 Amazon and Nike are reportedly mulling separate bids for Peloton, after calls from an activist investor to sell off the exercise equipment giant. After riding the pandemic high to an eyewatering $50bn valuation 12 months ago, Peloton has backpedalled to a humbler $8bn capitalisation. Activist investor Blackwells Capital, which owns a little under five per [...]
New York Times’ pursuit of subscribers over profit buys into a Big Tech delusion February 4, 2022 Those five, elusive letters. Only when I have found them can my day begin. Alas, they may soon become more elusive still. This week, the New York Times bought Wordle for an undisclosed, seven-figure fee. Ominously, the “Gray Lady” has promised only that Wordle will “initially remain free”. The New York Times has been unusually [...]
Tech stocks in a valley February 4, 2022 Just when Silicon Valley thought things couldn’t get any worse, they did. Meta tanked over 25 per cent on Wall Street yesterday, losing around $200bn (£147bn) in value, dragging the tech-heavy Nasdaq down along with it.
Ackman snaps up $1bn Netflix stake to go “all-in” on streaming January 27, 2022 Billionaire activist investor Bill Ackman has revealed he has built a stake in Netflix worth more than $1bn dollars, as the streaming giant battles a spiralling share price and investor exodus. Ackman announced on Twitter yesterday that his firm Pershing Square Capital Management started buying up Netflix shares on Friday and was now a top-20 [...]
Activist investor moves to oust Peloton boss January 24, 2022 Activist investor Blackwells Capital has moved to oust the boss of beleaguered home-fitness firm Peloton after it was revealed that the company was scaling back production last week.
“Stay at home” stocks tumble as global covid restrictions ease January 24, 2022 “Stay at home” stocks that boomed during the pandemic have slumped since the start of the year in a sign that investors and economies are beginning to shake off habits picked up through covid lockdowns. Shares in Netflix and Peloton were among the biggest fallers last week as bosses cut back growth projections and warned [...]
Peloton shares tumble 19 per cent after it temporarily stops bike and treadmill production January 20, 2022 Peloton is set to temporarily stop producing its bikes and treadmills amid collapsing demand, according to reports. The maker of connected fitness products took the decision to stem costs and limit losses caused by the company overstating the number of consumers it expects to buy its products. The news was first reported by CNBC. Production [...]
Three Christmas presents for a Cabinet that lacks political grip December 22, 2021 At this time of the year hapless members of the Cabinet, and even the Prime Minister himself, are entitled to some charity. We might usefully consider the gifts we would put under their trees on Christmas morning. Top of the list could well be both a Peloton and a deckchair. Sarah Healey, permanent secretary at [...]
Peloton pulls Mr Big ad as Chris Noth faces sexual assault claims December 17, 2021 Peleton has pulled an ad featuring Chris Noth after he was accused of sexual assault in claims published by the Hollywood Reporter.