You knew there was a reason Peloton Interactive (NASDAQ: PTON) announced it would be selling its connected fitness equipment and accessories on Amazon just before it reported earnings: It wanted to soften the blow of a disastrous fiscal fourth-quarter report. The workout equipment maker lost a massive $1.2 billion as sales of its connected stationary Bike and Tread plummeted, so getting out in front of that story by saying it is setting up a storefront on Amazon to reach a wider audience might mask the carnage it suffered during the quarter. It's hard to overstate how brutal Peloton's fourth quarter was as it capped off an already horrible year. Read More...
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General Electric Gets Its Power Back
Just a few years ago, it would almost have been unthinkable to describe General Electric’s (NYSE: GE) power business as its best performer, but that’s where things stand now. While the other three segments (healthcare, aviation, and renewable energy) have all suffered significantly with supply chain pressures in 2022, GE Power is on track for its full-year guidance. Ongoing performance at GE Power is particularly important for three key reasons, and they all relate to the upcoming breakup of the company.
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