Kohl’s, Micron Technology rise; Zoom, Peloton fall

Kohl’s Corp., up $4.32 to $36.52.

Sephora will be replacing cosmetics areas in the retailer’s stores, starting with 200 locations late next year.

Tesla Inc., up $17.16 to $584.76.

Tesla’s inclusion in the S&P 500 index will be made on a single day, rather than over two days as had been considered.

CSX Corp., up 57 cents to $90.62.

The railroad is buying regional operator Pan Am Railways to bolster its network in the northeastern U.S.

Pfizer Inc., up $1.10 to $39.41.

The drug developer’s coronavirus vaccine could gain European approval within four weeks.

Alcoa Corp., up $1.93 to $21.83.

The aluminum producer is selling its rolling mill business to Kaiser Aluminum Corporation for about $670 million.

Micron Technology Inc., up $2.99 to $67.08.

The maker of computer memory and data storage products raised its fiscal first-quarter profit and revenue forecasts.

Peloton Interactive Inc., down $4.32 to $112.03.

The fitness

Read More

3 Reasons Peloton Is Here to Stay

Peloton (NASDAQ:PTON) is the world’s largest interactive fitness platform. By bringing cardio into customers’ homes, Peloton was well positioned for a socially distanced world. However, while the pandemic helped increase adoption of its bikes, this was not a temporary shift, but an acceleration of the inevitable. Here are three big reasons why Peloton seems poised to stick around for the long haul. 

A man exercises on Peloton's Bike Plus.

Image source: Peloton.

1. Community keeps people coming back

A standard Peloton bike costs $1,895, but the value Peloton provides customers extends way beyond convenience and a fancy piece of hardware. Peloton has more than 17,000 available live and recorded classes, in which you can compete against friends, family, yourself, and celebrities. Even pro golfer Rory McIlroy has been encouraging other Peloton members to try and beat him in the class leaderboards. 

The social component of Peloton’s platform is building a network effect. Think of it like social

Read More

6 best Peloton alternatives: Great indoor exercise bikes that cost less

Indoor cycling is all the rage, especially in these stay-at-home, gyms-are-closed times. Cycling is easier on your knees and requires less space than a treadmill. You can enjoy virtual rides and take a cycling class via an interactive screen. And you can skip the pricey gym memberships and high-pressure in-person spin classes. But here’s the rub: A Peloton bike starts at $1,895 (a few hundred dollars less than before, but still), and a class subscription will run you another $39 a month. Show of hands: Who’d like to see a Peloton alternative for less money?

Me! Thankfully, there are many indoor bikes that cost less. Below I’ve rounded up some of the latest and greatest (including one that’s “free,” sort of) so you can see just how much you stand to save. I’ve tried most of them and will continue to update this post as I’m able to try

Read More

Peloton CEO says viable revenue from bike resale program is years away

  • Despite excitement over a forthcoming Peloton resale and rental program, CEO John Foley said it is “quarters if not years away” from being a viable revenue stream for the company given a lack of inventory. 
  • According to Peloton, members are opting to keep their original bikes rather than trading them in for a credit when purchasing the new Bike+ model. 
  • “We found that a disproportionate number of existing members decided to keep their original bike and buy a Bike+, whether they used the original bike in their second home or gave it to their college-aged daughter or son,” Foley said.
  • Visit Business Insider’s homepage for more stories.

Fitness buffs and investors alike have been abuzz over a forthcoming Peloton resale and rental program. But the fitness company is now warning enthusiasts not to expect the initiative to launch anytime soon.

According to Peloton CEO John Foley, the company has been

Read More