HomeLifestyleVehiclesStock Movers Today: PTON, GPS, GOEV, LEN

Stock Movers Today: PTON, GPS, GOEV, LEN

Peloton (PTON) is to stop in-house bike production. Peloton is expanding their partnership with Taiwanese manufacturer, Rexon. The transition to third-party manufacturing is the latest step to simplify the supply chain and optimize the cost structure. PTON stock price hit an all-time low on July 5th, 2022. Next, Shawn Cruz weighs in on Gap Inc. (GPS) CEO, Sonia Syngal, stepping down. Gap Inc. (GPS) is expecting the second quarter sales to decline in about the high-single digit range. Also, the Canoo (GOEV) stock price rose today after announcing a deal with Walmart (WMT). Walmart (WMT) is to buy 4,500 delivery vehicles from Cannoo (GOEV). JPMorgan downgraded Lennar (LEN) to neutral from overweight. The analyst expects sector headwinds to persist and says fundamentals have only just begun to soften. How does Lennar (LEN) compare to other homebuilder stocks like D.R. Horton (DHI), KB Home (KBH), and Toll Brothers (TOL)?

Morning Trade Live

12 Jul 2022

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