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
Year not beating estimates. David it looks like their stock is down in the premarket about 2. 5 . Home depot before you so rudely interrupted me alix david is funny today. David not very funny. Per depot beat earnings share, a little light on revenue. They basically blamed a lot on lumber disinflation, basically. They are warning a lot about china. One is how they want to eat up the lumber costs, a 21 drop in the cost of lumber. At the same time, you have continued slowing homebuilding, but theres a lag for that. Home depot not necessarily feeling the full effect of that could weakness. Because of the price of lumber, overall sales are down. They took it down for the year. There estimates went down. Ls, theykoh reaffirmed their adjusted Earnings Guidance on that comp sales mess. We will dig into retail more over the next couple of hours. The equity markets looking a little bit soggy here, with s p Futures Party much flat. Dow jones off by about five. It doesnt feel like theres a lot of
Canary islands in spain, allowing firefighters to make headway in battling the massive firefighters. Fires. Emergency workers evacuated more than 9000 people. The fire, described as a monster, began on saturday. Global news 24 hours a day, onair, and tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. Im Mark Crumpton. This is bloomberg. York, it is 1 00 in new 6 00 in london, 1 00 a. M. In hong kong. Im vonnie quinn. Welcome to bloomberg markets. From bloomberg World Headquarters in new york, here are the top stories we are following. Show me the slow down. Boston fed president Eric Rosengren says it is not up to the fed to make up for weakness in other economies. We will look at sentiment heading into this weeks jackson hole symposium. Watchdogs are rolling out the long anticipated overhaul of the volcker rule. Streaming wars are gearing up. Rollout itsto script Fiction Services by november, the companys first mediaay into subscriptions.
Questions. Land for trade. Prior for this, she was the deputy chief resident negotiator for two and a half years, which had to the one of the difficult jobs in the e. U. I told her that if we invite her back a year from now, we will ask her who was harder to negotiate with, the british or the americans. I am sure we would get a polite historybut, she has a in a number of positions of significance inside the european commission. As i said earlier, one of my personal favorites is before she was a brexit deputy, she was Deputy Director general of trade. Those of you who are european command, know exactly what that means and how important it is. I have no clue, but it certainly sounds impressive. She has numerous positions going back more than 20 years with the commission. She has a doctorate in political science, her phd thesis was on the, transport policy, a study in au policymaking, and she also studied political science, economics, literature and linguistics at Freiburg University in g
Leading president ial candidates. Indiana punches above its weight when it comes to president s and Vice President s. Benjamin harrison. The greatest of them all, abraham lincoln. Unless you already got a state of course come t the latest twoyear infantry into the sweepstakes is mayor. [applause] we welcome the mayor to bloomington and we thank him fom for coming to be with us. Hes onhe is one of 23 democrats running for the democratic nomination for president. That number may go up by this evening. [applause] two of you are not applauding and i cant figure out why. [laughter] the grand ritual of democracy selection of the u. S. President is no underlay in. The starting out of these and others of course for the host of other offices and eventually the next president. Some of us here believe the thae outcome of these will determine the wellbeing. In my case it is a long, long time. [laughter] we admire and appreciate the mayor. Five years of his private life. Since 2012, hes been mayor