Futures Point Lower as Investors Mull Tech Earnings; Bitcoin Drops Below $70,000

Peloton Stock Tanks on Weak Results, Outlook

FROM 1 minute ago

Peloton Interactive (PTON) reported weaker-than-estimated results for its holiday quarter. Its current-quarter and full-year projections aren’t so hot, either.

Peloton shares sank 9% in premarket trading Thursday after the connected fitness company posted less revenue and a wider loss than analysts were expecting.

The New York-based firm reported a fiscal 2026 second-quarter loss of 9 cents per shares on revenue that slipped 3% year-over-year to $656.5 million. Analysts surveyed by Visible Alpha had expected a loss of 6 cents per share on revenue of $677.2 million.

For the current quarter and full year, Peloton sees revenue of $624 million and a range of $2.40 billion to $2.44 billion, respectively. Visible Alpha consensus is for $637 million and $2.48 billion, respectively.

In October, Peloton announced a relaunched product line and higher subscription and hardware prices.

“The new Cross Training Series is resonating in the marketplace, our subscription base is highly committed, our integrated Commercial Business Unit is growing and well-positioned to continue doing so, and Member engagement with Peloton IQ is encouraging,” CEO Peter Stern said. “Looking ahead, our focus remains on executing our strategy to increase our share of the growing global wellness economy while continuing to enhance our magic formula of premium hardware, intuitive software, and unmatched human coaching.”

Peloton shares entered the day down 22% over the past year.

Amazon, UPS and Other Major Companies Are Making Big Job Cuts. Is AI To Blame?

FROM 48 minutes ago

The labor market limped into 2026, and big layoff announcements in recent weeks have added fresh anxiety to the fragile jobs picture.

Amazon.com (AMZN) said it plans to eliminate about 16,000 corporate roles, while United Parcel Service (UPS) announced 30,000 new job cuts, following an even larger reduction last year. Chemical manufacturing company Dow (DOW) slashed 4,500 jobs, or roughly 12% of its workforce, while Home Depot (HD) and Nike (NKE) each cut hundreds more.

For many workers, the fear isn’t just about layoffs—it’s about why they’re happening. A recent Reuters/Ipsos poll found that 71% of Americans worry artificial intelligence could permanently replace their job.

With AI frequently cited in corporate earnings calls and layoff announcements, it’s easy to connect the dots. But when economists and labor researchers dig into the data, a more complicated—and far less AI-driven picture—emerges.

Read the full article here.

–Peter Gratton

Stock Futures Little Changed as Investors Assess Tech Earnings

FROM 1 hr 8 min ago

Futures contracts connected to the Dow Jones Industrial Average were down 0.1%.

S&P 500 futures pointed 0.1% higher.

Nasdaq 100 futures were up 0.2%.