Jack Pitcher
speaker
112 appearances
3 recordings
1 series
first heard Aug 2024
last heard Nov 2024
Jack Pitcher’s voice in public audio — every appearance, attributed to the second.
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Appearances
Peloton shares soared 35% Thursday after it unexpectedly posted growing sales for the first time in more than two years.
Subscription revenue was up and losses shrink.
Demand for new bikes may have cooled, but it looks like there are enough exercise bike diehards to keep the subscription business afloat.
Peloton shares closed 51% higher for the week, but they're still down 97% from their 2021 heyday.
Investors were spooked after news that federal regulators are investigating a unit of Franklin Templeton, one of the biggest money management firms in the U.S.
On Wednesday, Franklin disclosed that the Securities and Exchange Commission sent a notice that intends to bring an enforcement action against the co-chief investment officer of Western Asset Management Co., one of Franklin's subsidiaries.
Franklin said the executive had been placed on a leave of absence, and it has launched an internal investigation over whether some clients were favored over others.
Analysts are concerned that some of Franklin's major clients, like pension funds, could pull their money from the firm if they're concerned about wrongdoing.
Franklin shares shed 13% Wednesday and 8% for the week, making them the worst performer in the S&P 500.
And now you know what's news in markets this week.
I'm Jack Pitcher.
Have a great weekend.
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