Monday’s Headlines: Is Peloton For Sale?

Monday’s Headlines: Is Peloton For Sale?

The answer to Friday’s anagram was Social Media

Let’s see if you can unravel today’s one, ​​and let us know on Twitter @MyWallStHQ if you think you’ve got it.

Deter Consumption

We’ll reveal the answer in tomorrow’s headlines.

Here were the biggest movers in the MyWallSt shortlist on Friday:

Moving Up ⬆️ (BILL) +36.1%

Amazon (AMZN) +13.5%

Pinterest (PINS) +11.2%

The Trade Desk (TTD) +10.9%

Wix (WIX) +9.7%

Moving Down ⬇️

Ford Motor Company (F) -9.7%

Align Technology (ALGN) -2.7%

IDEXX Laboratories (IDXX) -2.3%

Monster Energy (MNST) -2.1%

Mastercard (MA) -2.0%

1. A number of retailers are rumored to be looking into the acquisition of Peloton (PTON), with Amazon (AMZN) and Nike (NKE) among the top candidates for the sale. With the mighty rise and fall of the at-home fitness company — its shares have sunk more than 80% below its all-time highs to give it a market cap of roughly $10 billion — it is a far cry away from its 2021 heights. Investors need to be aware that Peloton has not announced it is actively pursuing a buyer, and that any rumored deal could fall through. The market is ignoring this fact, however, and even the idea of a sale has sent shares rocketing more than 25% in today’s pre-market. Read the full story here.

2. Take-Two Interactive (TTWO) has announced that the long-awaited ‘Grand Theft Auto VI’ is in the works. This is huge news for Take-Two considering ‘GTA V’ has been the second best-selling game of all time with more than 155 million copies sold. Since its launch in 2013, the ‘GTA V’ title is estimated to have contributed $6 billion to Take-Two’s revenue alone, and the company has continued to monetize the release with new online games and downloadable content (DLCs). Games of this nature require several years to fine-tune and ensure they are ready for production, but we can expect this title to be the next big money-spinner once it hits consoles and PCs alike. Read the full story here.

3. Nike (NKE) is suing StockX, an e-commerce fashion collectibles company backed by the likes of Eminem and Mark Wahlberg. The company is not an authorized Nike retailer, which leads Nike to believe StockX is misleading its customers with the use of digital graphics and non-fungible token (NFT) sales. Nike is putting its trademarks and digital patents that it filed in late 2021 to use already by calling for the complete removal of footwear, print graphics, logos, signage, labels, as well as NFTs. This case could be very important for setting a precedent in the non-fungible tokens universe, how cases like this will be dealt with in the future, and whether it was worth Nike’s time going to all that trouble to protect its intellectual property. Read the full article here.

Three companies on the MyWallSt shortlist will report earnings today:

Hasbro (HAS)
Take-Two (TTWO)
Chegg (CHGG)

Get this week’s full earnings calendar here. 

David GranahanDavid Granahan