Year: 2020

(Bloomberg) — Peloton Interactive Inc., the maker of internet-connected exercise equipment, said on Wednesday that sales in the current quarter would be lower than analysts’ estimates. That news overshadowed the company’s strong holiday earnings and optimistic sales projections for 2020, sending its stock tanking after-hours.New York-based Peloton said revenue in its fiscal third quarter would be $470 million to $480 million, missing the average projection of $494 million. The shares were down about 9% in extended trading.Peloton’s stock has had a rocky few months since its initial public offering in September. The company floundered in the months following its IPO, …read more […]

(Bloomberg) — Twilio Inc. gave a forecast for full-year results that fell far short of analysts’ estimates, reflecting the software maker’s rising costs in its efforts to expand.The company expects to report a loss, excluding some costs, of 20 cents to 14 cents a share in 2020. Analysts, on average, projected profit of 24 cents, according to data compiled by Bloomberg. Annual sales will be as much as $1.49 billion, San Francisco-based Twilio said Wednesday in a statement, representing a significant decline in the company’s revenue growth rate.Twilio Chief Executive Officer Jeff Lawson has assembled a broad set of cloud-based …read more […]

Investors also may have been disappointed by misses on sales for 4th quarter and blockbuster drug Keytruda Continue reading… …read more […]

Qualcomm supplies “modem” chips, also sometimes called baseband processors, that connect mobile phones to wireless data networks. Qualcomm has been trying to persuade phone makers to buy its radio frequency chips, together with its own modem chips, rather than selecting parts from separate vendors and integrating them. …read more […]

China’s state-owned gas importers are considering declaring force majeure on LNG imports, which would amplify the turmoil in global gas markets …read more […]

After six months, the Trump impeachment trials are drawing to a close as the Senate has enough votes to acquit Trump of abuse of power by 52-48. …read more […]

(Bloomberg) — Qualcomm Inc. gave a strong sales forecast for the current quarter, indicating new high-speed wireless networks are starting to fire up demand for pricier smartphones.Revenue will be $4.9 billion to $5.7 billion in the period ending in March, the San Diego-based company said Wednesday in a statement. Analysts, on average, estimated $5.1 billion, according to data compiled by Bloomberg. Fiscal first-quarter sales and profit also beat estimates.The forecast is more evidence of Qualcomm’s confidence that fifth generation, or 5G, networks will expand quickly this year and spur mobile phone upgrades to take advantage of faster data speeds. Chief …read more […]

Shares of fitness equipment manufacturer, Peloton tumbled in after-hours trading on Wednesday, after the company’s fourth-quarter earnings report disappointed investors. The Final Round panel breaks down the latest. …read more […]

Editor’s Note: Today’s Safety Net comes from Financial Research Associate Andrew Hubbarth.
– Mable Buchanan, Assistant Managing Editor

Boeing Co. (NYSE: BA) has made headlines over the past year and a half for all the wrong reasons.
In October 2018, Lion Air Flight 610 crashed in Indonesia, and in March 2019, Ethiopian Airlines Flight 302 also crashed minutes after takeoff.
These tragedies resulted in 346 people losing their lives and the eventual grounding of all Boeing 737 Max planes worldwide. Anti-stall and flight control software malfunctions and the need for proper pilot training were cited as reasons for the crashes.
The 737 Max grounding set …read more […]