PTON - Peloton Gets a Partner and This Retail Stock Just Found a Buyer
2023-09-28 13:17:33 ET
Investors have struggled through a tough September, but it appeared that Wall Street might be aiming to end the month on a positive note. Major market benchmarks rebounded at midday on Thursday, with the Nasdaq Composite leading the way with a gain of nearly 1% just before noon ET.
Among winning stocks, Peloton Interactive (NASDAQ: PTON) got a lot of positive attention as the ailing interactive fitness equipment pioneer entered into what could be a lucrative partnership with a top athletic retailer. Elsewhere in retail , Chico's FAS (NYSE: CHS) was the big winner, as value investors in the private equity world appear to believe that prices have gotten so low that there are smart deals to be made. Here are all the details.
Shares of Peloton Interactive were up 5% at midday after having been higher by double-digit percentages earlier in the trading session. The maker of bike and treadmill equipment announced a strategic deal with Lululemon Athletica (NASDAQ: LULU) late Wednesday that inspired hope that the long-ailing Peloton could finally get its footing again.
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Peloton Gets a Partner and This Retail Stock Just Found a Buyer