Dow adds 372 points, Nasdaq 1.3% as Peloton soars 25%
Peloton CEO John Foley has been removed amid cycling giant's turmoil
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U.S. stocks picked up momentum during afternoon trading as investors weighed a shake-up at Peloton as well as a new batch of corporate earnings.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| SP500 | NO DATA AVAILABLE | - | - | - |
| I:COMP | NO DATA AVAILABLE | - | - | - |
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The S&P 500 and Nasdaq Composite curbed losses and rose by 0.8% and 1.3%, respectively, while the Dow Jones Industrial Average rose over 370 points or 1.06% led by Amgen after the biotech giant announced a $6 billion share buyback.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | NO DATA AVAILABLE | - | - | - |
| AMGN | NO DATA AVAILABLE | - | - | - |
10-YEAR TREASURY HITS 1.95% - NEW 52-WEEK HIGH
Financials rose as the 10-year Treasury rose to 1.95%, a new 52-week high.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| WFC | NO DATA AVAILABLE | - | - | - |
| BAC | NO DATA AVAILABLE | - | - | - |
| JPM | NO DATA AVAILABLE | - | - | - |
In shake-up news, Peloton sidelined CEO John Foley amid the company's turmoil. The stock curbed losses ending with a gain of over 26%.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AMGN | NO DATA AVAILABLE | - | - | - |
He will move to the role of executive chair, replaced by Barry McCarthy. The company also slashed its revenue outlook to $3.8 billion from as much as $4.8 billion. Additionally, the cycling giant will cut 2,800 jobs.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| PTON | NO DATA AVAILABLE | - | - | - |
In recent days, speculation swirled that the company is a takeover target, with as many as five possible suitors, including Amazon, Nike, Apple, Disney and Sony, according to multiple reports.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AMZN | NO DATA AVAILABLE | - | - | - |
| NKE | NO DATA AVAILABLE | - | - | - |
| AAPL | NO DATA AVAILABLE | - | - | - |
| DIS | NO DATA AVAILABLE | - | - | - |
| SONY | NO DATA AVAILABLE | - | - | - |
In other deal news, Nvidia and SoftBank's ARM called off their record $80 billion merger, citing "significant regulatory challenges," according to Nvidia.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| NVDA | NO DATA AVAILABLE | - | - | - |
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Facebook was also on the radar after board member Peter Thiel announced he plans to step down.
| Ticker | Security | Last | Change | Change % |
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| FB | NO DATA AVAILABLE | - | - | - |
In earnings news, Pfizer shares slipped after it forecast sales from its COVID-19 vaccine will be around $32 billion, slightly below estimates.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| PFE | NO DATA AVAILABLE | - | - | - |
| BNTX | NO DATA AVAILABLE | - | - | - |
And food chain Chipotle Mexican Grill will release earnings after the closing bell.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| CMG | NO DATA AVAILABLE | - | - | - |
On the economic front, Thursday's report on consumer prices will be closely watched as those are expected to tick up to 7.3% vs. 7% from December.
In commodities, oil closed down over 2% to $89.36 per barrel.
In cryptocurrencies, Bitcoin hovered above the $40,000 level.
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