If your child is a picky eater and absolutely won't eat veggies, then try these pancakes made with a secret and healthy ingredient — spinach!
If your child is a picky eater and absolutely won't eat veggies, then try these pancakes made with a secret and healthy ingredient — spinach!
(Bloomberg) -- Peloton Interactive Inc.’s earnings report on Thursday was supposed to be the company’s chance to show off faster product deliveries. Instead, the equipment-maker finds itself in a tight spot over treadmill recalls that has investors second-guessing their devotion to a foundering stock.After weeks of pushing back against U.S. regulator warnings about Peloton’s treadmills following the death of a child and other safety incidents, the recall jarred traders and even prompted a rebuke from a senator. The stock sank 15%, the most in six months, as investors considered the costs in addition to potential knock-on effects that could threaten sales growth.“This may have other unquantifiable impacts to long-term demand,” said Ed Yruma, a KeyBanc analyst. Yruma, who has a buy-equivalent rating, said he would be re-evaluating his financial projections after Peloton’s earnings call on Thursday afternoon.Investors’ love affair with Peloton was already strained before the recalls.Shares of the the New York-based company had fallen 36% this year as it struggled with extended delivery times and the easing of Covid-related lockdowns raised concerns about sales growth in coming quarters.The stock is now the worst performer in the Nasdaq 100 Stock Index after soaring more than fivefold in 2020. Still, of the 29 analysts tracked by Bloomberg that cover Peloton, all but five were recommending investors buy the stock ahead of Wednesday’s news. Wall Street’s optimism combined with sinking shares have pushed the gap between analyst targets and the stock price to 90%, the widest margin since Peloton’s 2019 market debut.Peloton’s predicament is reminiscent of those endured by other consumer-facing companies that were hit with blows to their reputations at a time they were enjoying a honeymoon with Wall Street analysts. Usually, the path to recovery is neither swift nor sure.After Chipotle Mexican Grill Inc. grappled with diners being sickened by food-borne illnesses, the stock needed almost four years to retrace the highs touched in 2015. Lululemon lost some of its halo last decade after complaints about the fabric quality in yoga pants -- a situation worsened when the company founder suggested in 2013 that the gripes arose because the clothes just didn’t work “for some women’s bodies.” That stock took about six years to climb back into record territory.Prior to the recall, Peloton bulls had been banking on a strong earnings report as a potential rally starter, with expectations for progress in fixing shipping delays after the company pledged to spend more than $100 million to improve delivery times. The focus has now shifted to details about the recall, including costs, how Peloton plans to implement fixes and the fate of its new treadmill model that was set to debut in the U.S. later this month.In earnings calls with analysts over the past several months, Peloton executives touted how the cheaper Tread model beat sales expectations in the U.K., saying that it could eventually be a “rocket ship” for the company. The treadmill opportunity was potentially larger than bikes, they said, and expected its impact to be larger in fiscal 2022.Long-Term CommitmentIn spite of a near term hit to the company’s bottom line and potentially to its reputation amid the likelihiood for more lawsuits, most analysts are still positive on Peloton’s ability to maintain a rapid pace of revenue expansion. As of late afternoon Wednesday, Peloton got only one downgrade, a cut to neutral from buy, at Bank of America.“We acknowledge that this recall will likely result in significant near-term one time financial costs and operational disruption, with potential reputational damage,” said Truist analyst Youssef Squali, who has a buy rating.While Squali anticipates the new treadmill release will probably be delayed, he estimates that treadmill sales account for less than 10% of Peloton’s revenue and said the company’s long-term growth prospects remain intact.Peloton’s “long-term standing (after it puts this issue behind it) and opportunity within this massive segment remain strong,” he wrote in a research note on Wednesday.What Bloomberg Intelligence said:The recall could lead to a financial impact of $550-$600 million, assuming a 100% recall rate. The near-term hit on growth may not be significant, as we calculate more than 90% of its hardware revenue comes from bikes.- Amine Bensaid, BI analyst(Adds details of other consumer product crises beginning in seventh paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
Maybe don't slide into a person's Instagram DMs after they unmatch you — or never matched with you to begin with — on Tinder.
GeoPark Limited ("GeoPark" or the "Company") (NYSE: GPRK), a leading independent Latin American oil and gas explorer, operator and consolidator with operations and growth platforms in Colombia, Ecuador, Chile, Brazil and Argentina reports its consolidated financial results for the three-month period ("First Quarter" or "1Q2021"). A conference call to discuss 1Q2021 financial results will be held on May 6, 2021 at 10:00 am (Eastern Daylight Time).
Twitter and Billboard are partnering to create The Billboard Hot Trending, a real-time Billboard Chart powered by the social media giant to showcase the songs being talked about most on the platform and tracking music trends. The chart, which will refresh every 24 hours, will measure the music conversations dominating Twitter at any given time, […]
Kyrie Irving was fined back in December, too, after he avoided meeting with reporters, who he described as "pawns."
Pop star Bebe Rexha has previously revealed that she considers her sexuality “fluid,” and in a new interview with Gay Times published Wednesday, she expanded on her views. “What I believe about sexuality is this: it’s a scale,” Rexha said. “Have I gone out with girls before? Yes. Have I dated girls? Yes, I have. […]
The NFL made an example of James — and took a victory lap against the NFLPA.
The hilltop cottage belonging to a lesbian couple who were the first same-sex partners to legally marry in San Francisco has become a city landmark. The Board of Supervisors voted unanimously Tuesday to give the 651 Duncan St. home of the late lesbian activists Phyllis Lyon and Del Martin landmark status. The home in the Noe Valley neighborhood is expected to become the first lesbian landmark in the U.S. West, the San Francisco Chronicle reported.
Former president threatens ‘corrupt social media companies’ will pay political price
Democratic nations issue understated declaration amid concerns stronger language could prompt retaliation from Beijing
The Nanny star says she had seven second opinions over the course of two years
A 15-year-old has sued in federal court for the right to play in the National Women's Soccer League, which doesn't allow players under 18. The lawsuit filed Wednesday in Portland, Oregon, on behalf of Olivia Moultrie alleges the league’s age rule violates antitrust law and also hinders her career development and chances of reaching the U.S. national team. “It’s always been a dream of mine to play professionally in the U.S. I know girls my age are competing around the world and I just want to get on the field and officially compete,” Moultrie said in a statement released by the firm representing her, Miller Nash Graham & Dunn.
Anthony Albanese says ‘most vulnerable citizens are being neglected’ by broken aged care systemLabor leader accuses Scott Morrison of ‘callously’ ignoring sector’s needs and pledges to rebuild underfunded system Anthony Albanese says Coalition knew of the poor state of Australia’s aged care sector when it received the royal commission’s interim report and Scott Morrison ‘deliberately and callously’ chose to ignore it. Photograph: Joel Carrett/AAP
American Campus Communities, Inc. (NYSE: ACC), the nation’s largest owner and manager of high-quality student housing properties in the U.S., is pleased to share that on May 3, 2021, Walt Disney World® Resort announced it is relaunching the Disney College Program in June 2021. Participants in the program are expected to begin to occupy the company’s Flamingo Crossings Village community near Walt Disney World Resort in Orlando as early as this summer.
"I think we have to just kind of bury our hopes."
Uvie Evatt is 101 and her husband Leroy Evatt is 103
Thomas Tuchel added Zinedine Zidane to his list of victims as the German's stunning transformation of Chelsea continued on Wednesday with his vibrant side eclipsing Real Madrid to reach the Champions League final in style. The former Paris St Germain coach arrived in January to replace Stamford Bridge great Frank Lampard with Chelsea's expensively-assembled squad lacking identity. Lampard loyalists cried foul at the brutal sacking of the club's leading scorer and they were singing his name loudly outside the ground before kickoff on Wednesday.
Hipgnosis Songs has acquired yet another catalog, this one from Andrew Watt, who recently was named 2021 Grammy Producer of the Year for his work with Miley Cyrus, Dua Lipa, Post Malone and Ozzy Osbourne. Watt has co-written such massive hits as “Señorita” by Shawn Mendes and Camila Cabello, “Havana” by Camila Cabello, “Let Me Love You” by […]
‘Bold step’ hailed by progressives and medical community
(Bloomberg) -- Discover what’s driving the global economy and what it means for policy makers, businesses, investors and you with The New Economy Daily. Sign up hereU.S. inflation is unlikely to get out of control despite the unprecedented government spending that’s been authorized in response to the coronavirus pandemic, Federal Reserve officials said.“Our baseline view is that inflation is going to be close to our long-run objective of 2%, but we will be vigilant,” Fed Vice Chair Richard Clarida told CNBC in a television interview on Wednesday. “I think what the data is telling us now is there is going to be some upward movement as we reopen, but that it won’t persist over a long period of time, and that’s my view as well,” Clarida said.The vice chair’s comments chimed with those from a spate of other U.S. central bankers Wednesday, including from officials who have long held dovish positions on policy, like Chicago Fed President Charles Evans, as well as some who have taken more hawkish stances in the past, like Boston’s Eric Rosengren and Cleveland’s Loretta Mester.“The hawks are now doves,” Neil Dutta, head of U.S. economics at Renaissance Macro Research LLC, said in an email.Fed officials want to ensure investors and the U.S. public are not alarmed by higher inflation readings in the coming months as the economy reopens, a phenomenon many expect will be temporary. They are playing down the risk of economic overheating that has been raised by critics of President Joe Biden’s ambitious spending plans.“Given that inflation has run low for so long, some increase in inflation expectations and actual inflation would be a welcome development,” said Mester, who expects inflation to rise above the Fed’s 2% goal this year before moving back down in 2022. “I wouldn’t consider the increase in inflation I expect this year to be the type of sustainable increase needed to meet the forward guidance on our policy rate,” she told the Boston Economic Club.Fed officials at their meeting last week held interest rates near zero and reaffirmed they would continue buying $80 billion of Treasuries and $40 billion of mortgage-backed securities a month until the economy had made “substantial further progress” toward their employment and inflation goals.Fed Chair Jerome Powell said in a press conference afterward that would take “some time.” Clarida Wednesday added that the policy-setting Federal Open Market Committee is “certainly not there yet,” referring to the timing of internal discussions on when to begin tapering purchases.MBS TaperRosengren also said it was premature to focus on tapering, though the conditions might be met before the end of the year. And he sounded open to reducing MBS buying faster than Treasuries when the time comes.“I do think that as we think about tapering one of the things that we are going to have to think about is at what speed we taper the Treasuries versus the mortgage-backed securities,” he said in response to a question following a speech to the Boston College Carroll School of Management. “The mortgage market probably doesn’t need as much support now. And in fact, one of my financial stability concerns would be if the housing market gets too overheated.”In an interview later on Wednesday with Kathleen Hays on Bloomberg Television, he spelled out his stance further, though stressing that no discussions have occurred at this point.“The housing market is quite strong right now and housing prices have been going up,” he said. “So the need for buying mortgage-backed securities at the pace that we have been doing probably is not nearly as needed as it was much earlier in the recovery.”In March, the FOMC published projections showing most officials didn’t expect to begin raising the central bank’s benchmark interest rate from its current near-zero level before 2024.The projections also showed expectations that inflation would remain at or slightly above 2% for the next three years, and the unemployment rate would gradually decline to its pre-pandemic level of 3.5% by the end of 2023.Fed Governor Michelle Bowman, also speaking Wednesday, said some of those projections now appear outdated, with the recovery progressing more quickly than she had anticipated at the time they were published in March. The FOMC will issue updated projections when it next meets in mid-June. But she added that the the risk of inflation running persistently above the central bank’s 2% target “still seems small” despite an improving economic outlook.(Updates with comment from Rosengren in Bloomberg TV interview in fourth paragraph from end.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.