A couple of big stories this morning. Peloton pricing the ipo. Price tag at 29 a share raising about 1. 6 billion now valued at roughly 8. 1 billion makes about a billion in revenue but loses 245 million annually. Now under the ticker pton. The peloton ceo will join us live this morning. If you have questions sen them in peloton. 245 million in losses well talk about the math of that and where they see profits and what it all means. Does anyone know about the treadmill . I do. It is expensive. It is about 4,000 the bike is about 2,000 plus. I have one. The bike is quite a piece of equipment. It is heavy. It is really well made i just got one two weeks ago. You can have someone screaming at you you can go outside. It is there, all free. Eamon javers is with us the hardware is a highmargin product. Higher now than an iphone. It is the services and the investment and the media component costing them they are doing a lot of build outs is that recurring cost or eventually be built out . The
Here in new york but the markets are a little soggy right now United Health, the biggest of the dow downers. Morgan stanley lowering its price target but keeping an overweight rating for United Health peleton shares are trading lower marking another disappointing ipo. Bob is looking at some of how the biggest names are performing the buying public is saying prices for ipo is too high even if its centered around sound concep concepts this process has begun several months earlier of 120 ipos that have gone public, 22 have broken their ipo price on the first day of trading. About half are still trading below their initial price. Many ipos started really strong but they have been slipping recently as the investors question the valuation had a great week it was up 26 . Its now 6 this week. Crowd strike was huge back inror months but its down 16 this week mpl peleton off the lows of the day and disappointing debut for the company that makes those bikes and treadmills and offers classes. In w
President ial candidate steve forbes, great to see everybody this morning. Good to be with you. Maria a lot to talk about, dagen, missed you, wanted to get your take on complaints and whistleblower complaint that we will be declassified. Dagen right, acting in front of Congress Later this morning, declassified last night. Again. Let the American People see it in. I will leave it at this. Will democrats try to leave the. , the intent is to essentially destroy the economy and prevent everything from getting done that would benefit the American People like the canadamexico trade agreement. It looks like they are not maybe even impeach him but just destroy the economy because of it. Uncertainty they maria theres no u. S. Mca, nothing gets done legislatively and its amazing to me that they could stand there and pursue the moves when, in fact, at tend markets, investors, voters are going to blame them for that, steve forbes, what do you say . Its going to be a thin excuse when you have 6 or
And linking up. We get an exclusive check in with the linkedin ceo. Jeff weiner. His thoughts on the Company Three years after microsoft acquired the job listing site. But first, to our top story. A late developing shakeup at the top of oracle. The ceo is stepping down for health reasons. The company did not specify what issues he is facing. But executive chairman released a statement saying oracle has an extremely capable ceo and an extraordinarily deep team of executives, many with long year tenure. Joining me to discuss, Bloomberg Intelligence Senior Analyst in new york, and with us, Global Executive editor tom giles. Thank you for crashing on this. How surprising was this announcement . Tom as far as his leave, there have been signs over the last year that he may not be unwell. What was not expected was the announcement to come today. And because they had not announced until now, there was a question mark about whether they would and whether he was getting well or not. It took us a
Sunnyvale, upper 80s near 90. 84 in the city and 72 and pacifica. Napa, 88. Proffered, crawford, 89 degrees. A little fog. There are some 40s to the north. Did not take long to start warming up. The city is still a 63, even though the buoy temp is 54. Note breeze whatsoever. Mid50s and the upper hills. Is warm but even the coast, bay, and lynn temps will be well above average today. The high kicking in for 2 1 2, three days. Just like that, it will start to cool down on sunday. A big change on monday. More that coming up in the next couple of days. May be our first rain of the season for some on monday. 70s, 80s, 90s today. 7 01 am. A little hiccup or two early. Now, it is better. It is better than it was. We had a couple of things, as we mentioned. We have not had a lot of serious crashes. Yesterday and today, weve been okay when it comes to super serious things. List begin with the east bay commute. Some people leaving the east bay. You can see a little bit of a backup at the east ba