Peloton stock slumps after morbid product placement in "Sex and the City"
CBSN
Peloton shares slumped on Friday after the premiere episode of the "Sex and the City" reboot gave one of its devices a cameo role that took a decidedly morbid turn.
Shares of the exercise bike company fell more than 5% Friday after plunging as much as 10% in overnight trading. The drop adds to Peloton's recent stock market woes as the shares have lost more than 73% of their value since the year started, battered by a raft of controversies, safety issues and financial headwinds.
And Credit Suisse on Friday cut the company's price target to $50 from $112, with the analyst also reducing the stock's rating to neutral. The reason wasn't the "And Just Like That" reboot, however, but a slowdown in consumer spending that is crimping the company's growth.
The launch of Boeing's star-crossed Starliner spacecraft on its first piloted test flight is slipping to at least June 1 to give engineers more time to assess a small-but-persistent helium leak in the capsule's propulsion system, and its potential impact across all phases of flight, NASA announced Wednesday.
Washington — As former President Donald Trump's "hush money" criminal trial in New York proceeds to closing arguments next week, the legal focus is moving south. His attorneys and longtime aide Walt Nauta appeared before Florida federal Judge Aileen Cannon, where they sparred with prosecutors during two contentious, day-long hearings on Wednesday.