paying big rewards for one company, peloton. the shining star of the workout from home boom as fitness fanatics gobble up its connected bikes and digital workouts and treadmills. the ceo john foley is here on his crazy covid quarterly earnings and how to keep the rpms and momentum speeding along. >>> last night's nfl game has college fans asking football in december? we're about to ask the commissioner of the pac-12. less than an hour to the closing bell, let's start "the claman countdown." liz: i want to show you an s&p intraday chart just to give you a sense of what's going on. we do have it down eight points. the high of the session, a gain of 29 points. as we kick off this final 59 minutes of trade, the bulls are definitely struggling here. as we keep one eye on the markets, we are of course ever mindful of this very important and solemn day. 19 years after the 9/11 terror attacks, we once again remember the 2,977 lives lost that day. ceremonies unfolding across the nation to mark the anniversary from the pentagon to the sit

new peloton treadmill. so a lot more coming from that company. they want to become the apple of electronic fitness they may be on their way >> what prompted you to go with the peloton treadmill? is it the software do they have people saying, come on, andrew, go it is a hill do they have people motivating you? or is it soft like a wood way? >> it is like a wood way thetechnicals are pretty great the other element for us, my wife specifically, i try to keep up with her. i can't keep up with her half the time she was a big barry's boot camp goer in new york city which is on a treadmill and then weights. so this is the closest thing to rep kate i will tell you. the machine is expensive they are coming out with a cheaper machine because they are charging so much it cost us a lot of money, we are privileged to be able to buy one. it is also a big thing it is large. unlike the bike that you could fit in a corner. >> it fits in a corner it is over there that's exactly where it is don't tell the guy your wife used t

when you look at how brilliant the peloton has priced this, when i go down to my peloton now, i see myand i logged in, i see my parents, my brother, when they come to spend time with me and they have accounts now we call this real word viralty over the shoulder viralty. you take an uber with someone and then you download the a. i think customer acquisition costs will go down and the prices for the hardware go down, and it is about serve and you get a subscription >>. >> they have a ways to go with pricing to be in every home, like cable or satellite tv, but but i want your thoughts on nicknic nikola >> you have a term, too-soon-a-corn. you say they're either going to fail or be a fraud this is a response to hindenberg of being the latter. what is nikola here. >> a $12 billion aluation, i should add >>. >> i had trevor on my pod cast, and he spent an hour and a half on the pod talking about their plans. there is a possibility he will hit some of the targets. i don't believe that companies should go public with before they're ready so it is just, it is a red flag for us in the valley it

you mentioned peloton, they also demonstrate the demand for fitness accelerates.ll be some that won't survive physically. but ultimately the physical and digital coming together on the other side will be very profitable >> congratulations, and good luck with the reopening efforts. >>> thank you, it is good morning, it is 8:00 a.m. at oracle, 11:00 a.m. on wall street and "squawk alley" is live ♪

have fun with the peloton and thank you for watching "power lunch," everybody. now. have a great weekend >> you too welcome to "closing bell." a wild session on wall street following the markets' worst day in months yesterday. september has gone off to quite a rocky start. let's have a look at the action today. a surprise drop in the employment rate by 2%. down to 8.4% which pushed futures into the green before the open but then losses accelerated. dow fell as much

on the peloton specific part of that question, you know, the market reacted peloton's stock plummetedentarily when the fitness app was announced i actually don't think that apple's watch and new fitness program is a real come pelt tor to peloton. a lot of people buy a $2,000 bike with peloton. apple doesn't have a bike. based social networks and connections. not something apple is good at it may be a compliment to peloton. they talk about the apple watch integration. i do think apple's fitness app is a smart thing to launch i think there will be a business there. i think it will grow quickly now that we're all at home desperate to exercise in our bedrooms and closets. and i don't think it's going to really kill peloton. >> yeah. that's a really good question to end on because the products keep coming, nick but people still are waiting for the show me content on apple tv, on apple gaming. we'll see about fitness. peloton is very good and adept at creating compelling content i wonder how much of that -- you think that will be the next chapter watching them basically stock up these new p

peloton is still the safest gym in town. that's exactly right they are stay at home winner and they have absolutely crushed the results so far since they went public i think there shouldn't be too much of a surprise they disclosed a mullon connected fitness subscribers. that implies deliveries are ahead of expectation is in the stock? probably but the numbers will be good it's going to be about the guidance can they produce these bikes you can't get them, right? and they have enormous backlog it's a great story it's a hard one for me to own. it is a $100 billion and total addressable market there is more growth ahead >> we have two minutes to go before the close what you are watching? >> the volume split is actually certainly negative given the way the indices have buckled but not as dramatically as you might expect this is the theme for a while. on the way up, people complain that breadth is not as good as the index. upon the way down, breadth is outperformed you see here it's, you know, 3-1 to the down side but this is not

august the, peloton has such a loyal fan base -- obviously, peloton has such a loyal fan base, i don't it will have an impact in its current form despite the pretty low price. mark g., thank, you so much for joining us. we do have some breaking news now. e are now reporting that volunteer chairs -- palenteer shares will begin trading. we expected it to happen sometime. they are pursuing a direct listing, different than a traditional ipo. we will be all over it. elon musk is still speaking at tesla battery day. shares have been moving up after he tempered expectations going into this. we are listening to all the headlines. we will give you a deep dive after this quick break. we will be right back. this is bloomberg. ♪ give you my world ♪ ♪ how can i, when you won't take it from me ♪ ♪ you can go your own way ♪ ♪ go your own way your wireless. your rules. only with xfinity mobile. emily: we have a whole team of reporters covering this. you can check the minute by minute analysis. our reporter is saying that elon musk's claim that tesla will one day produce one million cars per goal given

we have earnings from oracle and peloton. we'll break down the after hours action later, hitting the jackpot sports betting stocks on fire as the nfl gets ready for kickoff >>> we start off with a major reversal on wall street. s&p 500 gave up gains around 2:00 p.m. to finish close to session lows same for tech stocks you saw the same thing play out in facebook and netflix, both stocks starting strong, finishing around session lows. you can extend this to regional banks, health care, energy, small caps what does the action today tell you, guy adami >> it's not encouraging. i'm not going to make a deal out of today yesterday we had the show of hands. i don't think any of us were convinced by the rally i'll continue to say a 30 vix suggests we're going to see days of 1.5-2% moves. i happen to think on aggregate it's going to be lower i'm not trying to be all good morning and gloom, but the environment we find ourselves in in terms of a lot of different things as we head into the fall, on top of which an election is probably a c

i would say peloton, for instance.eloton hit 98 yesterday, came all the way back to the 80s, hit 99 this morning and all the way back. it seems the market is telling us that these guys are killing it, they will probably keep killing it for a long time, but the stock itself is over its -- [inaudible]. >> i think that's a great analogy. we play lulu instead of peloton. we tend to run concentrated portfolios. we think lulu is the same type of theme as peloton in terms of the stay at home theme. with respect to the consumer in general, we think the lifestyle theme will continue as well as the mobile society. lulu is acting exactly the same. lulu is a stock that's had a tougher week this week and that would be a name we would be adding to positions and peloton will follow suit as well. for those investors wanting to be in peloton, we would play the same type of strategy. charles: full disclosure, i actually had my subscribers take profits on nautilus at the open, and that was one of the ways we were playing this whole trend

danielle, i'll start with you can peloton continue t absoluten number one peloton is the leader in thethe main issues that people have with peloton is the price point. well, you can pay per month. they also have lower-priced products and we have continued evidence that people are continuing to cancel their gym memberships. for me i'm incorrectly bullish it has the potentially to continue trading higher, and especially going into the earnings report. i'm looking for an overnight gap up tonight if we get a new all-time high tomorrow we should see some short coverings, and it's still a good trade >> yeah. they report tomorrow night from peloton houses does the chart look to you? >> that's right, seema, you hit it on the head, very well bullish, relative strength no view on how it would trade into earnings tomorrow, but we like how it's acting, on that sell-off, what is -- notable -- they averaged, then quickly reversed higher. there was a lot of interest to buy that stock on the pullback i think for us it comes down to simple tread following as long as the stotts is above the recent low -

do you know how the bike compares to peloton and to the other options out there?, peloton has the market share at this point, but is there an opening for up and comers? mark: what you see amazon starting to do, and they showed this with the health band they released -- they are trying to sell products at a low cost hardware wise and throw a subscription price on top. i think there could be room in his fitness market that peloton is creating at this higher end for something that is half the price or one quarter of the price of peloton's offering and offering it through a prime-like subscription. you can see amazon once to get in that space. the big difference with your original question is the lack of that screen, that interface, and amazon has years and years of building interface, the android-based tablet that they could rep ok -- replicate. this could be an area that is prime for amazon to enter, and given their distribution, operations, software and hardware integration, this could be an interesting area for them to explore. i would be surprised if they announc

amazon is down 4%, peloton is up a third of a percent.oton hit a record high earlier after amazon denied it had anything to do with the bike while the head of echelon, which is sort of the big name on the bike, said, wait a minute, we were in partnership with them. we have the ceo of echelon's response to this disastrous roll outcoming up, you'll hear it, we'll get it to you in just a minute. all right, nike hitting a record after they returned to profitability in its most recent quarter. digital sales were the real driver here. surging 82% even as so many of the stores had shut down or were barely open. you can see a great move, up 7% for nike. and then the is spillover effect from nike's success is splashing on lululemon, adidas and puma, all of them getting higher with puma up about 3%. >>> the race for a covid-19 vaccine adding a new competitor today. johnson & johnson announcing it has now begun stage three trials of its candidate. they have enrolled 60,000 participants. the stock popping on the news. right now it's holding on to gai

peloton interactive down 1.25%. the new age of the connected bike wreaking havoc on brick and mortar gyms. shares of the owner of new york's sports clubs nosediving after the nasdaq sent it the dreaded letter, informing the company that it will be de-listed. town sports international had filed for bankruptcy as covid-19 restrictions forced it to shutter all its gyms. we have the stock now at just 24 pennies, down 20% or 6 cents. later on, we will take you live to a gym chain's efforts to stay alive and kicking. >>> from working out to gaming, gamestop surging at this hour after the video game retailer's biggest individual investor ryan cohen raised his stake from 9.6% to nearly 10% as he seeks to be more involved in the company's operations. read activist investor. this time, it is not hurting gamestop. it's up 22% right now to $10.69. >>> all right. getting off the couch gaming, let's hit the road. carvana shares flying after the used carion li online seller pr an upbeat and a change from buy to neutral. huge deman

we will get you the latest numbers from peloton. >>> gm's stock electrified as peloton is spinning higher. less than an hour to the closing bell. let's start "the claman countdown." liz: this is a fox business alert. general motors stock is electrified after the automaker said it's taking an 11% stake in nikola. that is, of course, the electric truck company. in exchange, gm will help the electric truck startup develop and manufacture brand new models. look at the bump that gm is getting. this started this morning but i said you guys, we have to lead with this because it's not often you see an 8.25% jump in gm stock. it now stands at $32.47. nikola has gone absolutely crazy, up 40.25% at the moment. that's a $14.24 gain to $49.79 a share. now, while nikola surges, tesla is tanking at this hour. i know charles payne was just talking about this a few minutes ago but look at tesla. now down another 19.25%, down $80 to $337.57 a share. everybody expected that the s&p would welcome with open arms tesla. well, in a shocking move, the s&p committee said no, we're not going to induct you into our

it will get all the attention because of the runup in peloton stocks many may look at buying pelotons preth right now. i think it's, you know, i don't know if there will be a big player here. it's a very small little screen to work on and there are people do like their devices. but it's a move into this area it's an interest, an area of interest i don't think they're going to put peloton or the others out of business by any stretch of the imagination with this. but it's an interesting move i think as jon said this idea of the bundle, scott galloway on our podcast calls it a rundle. it is bundling the subscription services for which this business has gotten bigger and bigger services is a more important part of apple's future as people don't recycle devices as quickly. and so it is, you're right, it hits the spotify it hits the idea of going with apple just the way you might go with amazon and you're going to see this more and more from these companies in the future. amazon will maybe give you health care and delivery and this and stuff because they're trusted brands that to me is a b

buy peloton, you'll get there. lulu has been trashed. all i can think is there is a seller out there liquidating it. their stores are open. buy it today >> you tell him 15, he takes 30. pete, you have less than 10. >> the reality is they're buying calls. i think you have to buy calls in here i already own stock. i'm buying calls right now >> have a good week, everybody "the exchange" starts right now. >>> thank you, scott welcome, everybody here's what's ahead this hour. investors are battling it out for control of this market, and despite warnings from some high-profile investors this week, bank of america is saying, don't worry, the bull market is still alive and well are they right as the market weakens a little this afternoon, we'll definitely ask. >>> americans could be saving as much as $500 a month on their mortgages, but many aren't yet we'll tell you if you're in that camp >>> peloton does ride higher, grocery stores could be a thing of the past and doubling down on tesla. >>> let's begin with today's market to close out the wee

peloton shares soar. we'll speak to the ceo live. friday, september 11 19 years 2020 "squawk box" begins right now. >> good morning. welcome to "squawk box" here andrew ross sorkin along with joe kernen becky is off today

peloton has been a big lockdown winner. we'll preview the stock ahead of its earnings after the close. should you take it for a spin? today's initial jobless claims, 884,000. the a stark reminder the economy need as bump. senate killing the republican skinny bill which i think was a waste of time anyway. where is the sense of urgency? i will ask senator marsha blackburn coming up. look at the inspiring story of a ufc fighter and his father. all that and much more on "making money". ♪. charles: so, folks after wild hopingover the last five for equalibrium, market at all-time highs, beginning to sway side by side. it is scary and epic. even trading before today was wild. it was all over the place. so, is this a session where maybe we can finally get some equalibrium to this market? if so, what is next? we'll ask ryan payne, ceo of payne capital management, a group i'm not affiliated with. fitzgerald group principal, keith fitz-gerald. we have optimal strategy's francis newton stacy. francis start with you. on the notion that

peloton, i'm sorry i'm losing it here. peloton up 4.7%.e most popular bike by 15% that is a key. we spoke to greg smith who likes this stock. let's take a listen. >> peloton has a massive untapped market opportunity. it's a great play what is happening, people at home, people want to go to the gyms, they need to work out, peloton is giving them the opportunity to do that at home. they are ultimate fitness company. i have a personal price target on peloton of 150. ashley: there you have it. greg smith, a vote of confidence in peloton. >>> let's switch gears checking the price of oil for you. president trump signing off on a new executive order to expand america's offshore drilling, take a listen. president trump: i will sign a presidential order extending the moratorium on offshore drilling on florida's gulf coast and expanding it to florida's atlantic coast as well as the coasts of georgia and south carolina. environmental protection is a sacred obligation and so it is our duty to fight for the dreams and livelihoods of the citizens we ser

with gyms closed due to the coronavirus, people flocked to peloton bikes to get their workouts in.nd the home fitness company doesn't expect demand to slow anytime soon. the company also just unveiled a new internet connected stationary bike and a treadmill. >> the motion is not agreed to. >>> a republican backed coronavirus relief bill failed to garner enough support to pass the senate yesterday. democrats say the proposal didn't go far enough to adequately address the problems facing the country. the bill did not include a second $1,200 stimulus check. money for rent assistance, food aid, or for local governments. >>> history on wall street. jane frazier will take over as ceo of citigroup in february. becoming the first woman to lead a wall street bank. fridayier currently the bank's president and its head of global consumer banking at citi will succeed the retiring manager. watch report. for more, head to cbsmoneywatch.com. at the cbs broadcast center. i'm diane king hall. >>> a startling discovery inside big basin state park this morning. weeks after it was ravaged by the czu l

we had a brief discussion about it yesterday in that the price at $499 would have undercut a pelotonn responding to this continued, evolving story, the way products are marketed and positioned on amazon in this case apparently with too much zeal from echelon >> yeah, and the fact that so many folks bought into this didn't question that amazon was getted into connected fitness says something about the strength or at least the perceived strength of that amazon prime fly wheel that could also just take out an established competitor, established company in the space like peloton apple going into the space as well, carl it will be a busy one. i still wouldn't count amazon out in the future. >> probably not a safe bet we're close to session lows here, but obviously nowhere near yesterday's intraday low we'll keep an eye on the indices as the dow was up 170. currently down 130 and then tesla remains a story was down 8%. now down 9%. i'm sure cramer will have some thoughts on the evolution of that story when we get to "the half" at headquarters right now. >>> carl, thanks so much welcome to

is ais instance, peloton tempting target given what it has done this year.zon today launching a prime , price tag, $500. thanoton bike is more $1000. this prime bike is only for prime subscribers and comes with fitness subscriptions. peloton shares did fall as much as 6.7%, but they did pare some of their losses. a couple of analyst notes coming out, indicating this prime bike will have less of an impact on peloton and people thought. apparently there is already a lower tech version of this bike being sold at walmart and it has not done much. i don't know if you are a fan, but the content is also pretty ton.ing compared to pelo there is no one to drive the faithful. vonnie: all sorts of exercises for everyone. talk about september and tech. you have done some digging, you have come up with some data that september is a week month anyway. for equities,ll especially in an election year. so far we have seen a correction, not just for the nasdaq 100 but also briefly in the s&p 500, which is so swayed by big cap tech names. a lot of it has to do with rotation. ec

peloton has given up gains, now 2% lower, along with the other nasdaq stocks.his even after it reported its first ever profit as a public company. kailey leinz has more. >> we have seen a bit of a rollover. was up 12%, and now we see the rollover in the nasdaq. there was a lot of good news already priced into the stock. rallied more than 200% since the start of the year, investors betting that it would benefit from a stay-at-home world i'm a that would boost demand for peloton's products and subscriptions and they were largely right. in the fourth quarter, peloton has almost 1.1 million subscribers, workouts rose 330%. revenue climbed 172%. these are remarkable numbers. when it comes to the fiscal first quarter forecasts, it beat expectations, as well as the full-year forecast. the street is pretty happy, quickly reacting to the results today. as of the close on wednesday, the average target was $77. today, $106 a share. that is an increase of 37%. one analyst said the growth is extraordinary. others say that peloton is poised to continue their success after th

i'm closing in, by the way, on 150 peloton rides, kelly >> wow >> how about that?ic. >> off to the races. was the france vud coucovid-19 they were up over 16,000 versus 13,000 the day before. thast is a new all time high and it's thefourth record in eight days the may have something to do with the weakness that we're starting to experience >> absolutely. some states in the u.s. have seen increased case counts as well >> that's right. and that does it for "power lunch," everybody. tyler has to hop on his bike "closing bell" starts right now. >> it certainly does it's been a roller coaster session on wall street the nasdaq is both up and down just the dow at the moment as well is still higher let's have a look at what is driving the action this morning. excuse me. this afternoon mixed data hitting the tape today. new home sales topped forecasts. investors digesting a slew of fed speakers chair powell warning of down side

echelon's prices is about a third of peloton's.rd high. just moments ago. [laughter] ashley: -- >> ashley? ashley: all right, lauren, thank you very much. i thought we were going to get another sound bite, i have no idea why. but what a fascinating story. talk about getting your lines crossed, somewhat embarrassing, but there you go. take a look at amazon, if we can, they are adding 100,000 employees. guess what? jeff flock in the middle of it life at a new -- live at a new amazon facility in illinois. all right, jeff, give us a tour. >> reporter: i guess pretty much fitness bikes is the only thing amazon isn't in, apparently. you are getting, ashley, a first live look inside the latest, newest amazon fulfillment center. this one just outside chicago. there's more than a hundred new buildings including fulfillment centers that amazon is opening this year, and here's the headline, they need people. look at all these racks, empty right now because this place has just opened, they're just getting it up to speed, but they need 100,000

it is not pretty, we have news on peloton, what you got lauren.ok at that, $88, i was reading the report that came from the market, they compared to netfl netflix, netflix added upwards of 20 million members during the pandemic, peloton added 380,000, you are not comparing apples to apples, it's much cheaper to have a netflix subscription but they are questioning where are these users and subscribers as many and should have more because of the pandemic. that's the point they're making, look at the stocks, not up as much anymore. stuart: you gotta compare apples to apples, netflix to peloton is not a valid comparison's. lauren: one more thing on lululemon, i give them credit for this, they proved that during a pandemic when people are going to the gym anymore, they're not going to soul cycle classes where you show off your latest expensive lululemon gear, they prove that they can still make a lot of money with people getting comfortable at home. that is also for them, but to no we want to be so proud of them, that is wall street this exceeded, they

i think a peloton in some room would be kind of fun. >> hopefully that will clear out. a lot of people are getting those bikes and i've heard nothing but great things about them. >> yeah, i have a lot of friends who have them. i do like getting outdoors but the ease of having it literally in your house, there are no excuses. can't blame it on the weather. can't blame it on the weather. >>> pandemic or not we still have only 93 shopping days left until christmas. that's why walmart is announcing plans to hire 20,000 seasonal workers. new hires will work in the company's e-commerce fulfillment centers. retailer is increasing potential gifts reflecting the new normal like athletic leisure wear you see everybody just wearing something comfy around the house. >> that's what we all do now. >>> when i first read the next story, i was like, is this real? listen to this, actor tom cruise is lifting sce for an upcoming movie. yes. now, if you can believe it, he'll be filming at the international space station so crews will take the spacex rocket there. details of the movie limite

there you go >> if it catches up with ty, we're talking peloton 150. to the bond market rick is tracking the action for us rick >> the data today was kwiequite important. no matter how investors feel, today's numbers were good except for the trade balance. trade balance at 82.9. almost 83 billion is the widest ever that was with positive percentage gains on imports and exports. consumer confidence really zoom, zoom, zoom really consolidating like all treasury you can see august through september what we're seeing is 140. look at boons. boons closed at minus 54 an 8 week low yield. giving back all its gains over the last couple of weeks you can see it's bugz up after touching a two month low several sessions ago back to you. >>> david tepper is bringing his billions back to new jersey. where the big bucks are moving that's next. ♪ ♪ ♪ ♪ ♪ >>> new jersey state treasurer may be celebrating as david tepper says he is coming back to the state and just in time for new millionaires, details on how much this could cost him. >> kelly, it is news when a billiona

peloton. i'm getting right to it. it's incredible how many smart people bet against this maker of smart exercise machines. when covid hit money managers figured gyms and spin classes were kaput many tried to crash peloton holding in the 30s assuming it's a stationary bike with a video screen gym chain after gym chain filed bankruptcy fly wheel, bankruptcy and peloton stock soared to the stratosphere the company is here to stay and to ensure the competition stays dead people got in early with a lot of inventory and brag about it why not? not anymore. the verdict, the market is screaming peloton is the real deal next up, the pandemic taught a new generation how to cook at home because it's not really safe to dine out you would think that means great things for packaged food companies and putting up fantastic numbers but the stocks are getting clobbered because the market thinks they have no post pandemic staying power. today's beat down with mccormick. the spice maker and campbell soup, the same investors like the web,

is nautilus stock the new peloton? and charlie breaks it on why j-lo doesn't stand a chance at buying the mets. let's start "the claman countdown." liz: this is a fox business market alert. with the backdrop of a market rally, tiffany is bleeding red after french luxury powerhouse lvmh said it cannot go through with its $16 billion acquisition of the american jeweler because the deal is getting mired in trade disputes. yes, between france, the european union, and the united states. tiffany is tanking, down 6%. it's filed a lawsuit to enforce the deal. lvmh for its part is up half a percent. >>> we have to show you shares of slack, another work at home stock. shares are on track for a record percentage drop, falling 15% right now after second quarter billings growth disappointed, and the company said you know what, we didn't really steal a lot of people away from microsoft teams, the big, yes, the big rival there. wall street's rapidly slashing price targets on the workplace messaging stock right there, slack is down ab

guy adami is there on peloton. tim, is this a stock over run? fast? >> first of all, nice job with the razorbacks i got a case where the valuation is very difficult to explain here i think fitness as a service r vertically integrated. it may make new entrance and have some difficulty and this is a margin story and just a question of how far and price but i think if you own the stock, hold it. >> own it and hold it for peloton. let's keep the viewer questions rolling in next up we got jacob speaking of the dogs in georgia. >> what's going on "fast money." this is jacob from georgia in beautiful athens georgia with this saturday, the dogs will defeat the tigers. it had a really big run. i'll wondering if it's worth holding on to or trimming the position a little bit? thanks a lot. >> dkng draft kings. mike, what do you think about this particular stock? >> well, it is interesting in his question he talked about 408di holding it for a long time we have to say what is considered a long time for a stock that's been around for a long time. this stock

while we're talking about huge figures, at the march lows, peloton was a $17 stock. it's up almost 400% from those levels, as it sits at about 89 and 50. >> i like cost to hot dogs and i love my pelotons they're actually now backordered. >> and new york is one of the worst places on average it takes about ten weeks to get a bike in new york. one of the best places, however, is dallas. if you want a bike, i don't know -- >> move to dallas. rahel, thanks very much. >>> pete is seeing some unusual activity in the options market, but a quick check on the map that's 10 out of 11 in the green for this day we're back after this. this is decision tech. find a stock based on your interests or what's trending. get real-time insights in your customized view of the market. it's smarter trading technology for smarter trading decisions. fidelity. when you're miles from home... ...your bank should help you check on your account to see what's free to spend. henry... virtual wallet® is so much more than a checking account. easily see what's free to spend. and put money aside for your

peloton, big winner last week, their ceo had a big prediction for user growth in america, what is held liz claman that peloton will have 100 million users in the next decade or two, they have 1 million users now, this means they would have to add between five and 10 billion subscribers per year that seemed like a tall order but t peloton shares are p 200% in market cap close to $225 billion, the future growth is unlimited and investors are starting to disagree, that's why you see them extend the selloff that they had on friday, friday they put out the terrific earnings report and they tripled their sales, workouts doubled in the quarter, it could not get any better than that because peloton reminds us of what her old life was like when you look at zuma peloton, it's an idea let me have normal at home in a new way but when there's a vaccine are we still going to want peloton or will we want to go to the traditional jim, a lot of the lockdown winners -- lockdown losers right now. stuart: losers right now, $80 a share last week it hit $100 a share, it's come back down to a level of 80 b

for some of these stay at home companies like zoom and peloton the, this bodes pretty well while the growth may slow down, there definitely is still some growth for them. prime example would be you look at peloton against the backdrop of judgements reopening, and it's not going to be too much of a challenge because gyms are operating at a reduced capacity, and people have learned to work out at home. they're able to mostly replicate that experience. some typeses of workouts like yoga, why head to a gym if you don't have to. jack: why get on a bicycle might be a good lesson for me. what about covid-19 victim stocks that might do a little bit better? do you see any hope there? >> yeah. so this is an area where all want to be definitely careful and definitely patient, but you would look at names like macy's and gap. a lot of the retailers that have survived, they are right-sizing their physical footprint. so, you know, the retailers that are left, they could be in a position, in a good position down the line. jack: gotcha. so, jack, we saw nikola and gm maybe flirting a little bit, a li

i waited five weeks to get my peloton delivered. we're full in the position, but if you don't own it may be start building your position. >> to the point victoria is making on some of the competing apps, guy, i know you're a big fan of the beach body app. pandora is $10 a month, drop box plus is $10 a month. is there a risk these bundles actually harm others out there who are offering stand alone services >> no question peloton is obviously a little bit different. with that said, you saw the knee jerk reaction of peloton right off the bat after apple announced this this is always the fear that some companies are amazoned. well, in this world some companied can be appled. with that said, i think there is a faction of people that still like individual things the whole bundle thing sounds confining to me. i'd rather pick and choose my applications as oppoe poepposede it under one umbrella. >>> another twist in the nikola saga plus, walmart gets primed. the company upping the ante against amazon today en the world gets complicated, a lo

to me, i look at those as favorable versus tesla, docusign, peloton.y have no earnings we can make arguments but i rather own a bank. >> more trades ahead we'll be back in two what if you could have the perspective to see more? at morgan stanley, a global collective of thought leaders offers investors a broader view. ♪ we see companies protecting the bottom line by putting people first. we see a bright future, still hungry for the ingenuity of those ready for the next challenge. today, we are translating decades of experience into strategies for the road ahead. we are morgan stanley. into strategies for- we did it!c)d. (crowd cheering) - [narrator] wherever you start, snhu is where you can finish. (crowd clapping) (crowd cheering) - here we go. - [narrator] and it's it. - [group] yay! - [narrator] you did it, high five! - southern new hampshire university. - [man] that gets a hug. (laughing) - look at that! master's degree, i did it! - i did this for my children. i am very proud of myself. - [narrator] finish your degree at snhu.edu. >>> time for the f

. >>> shares of peloton closing lower today after competitor echelon unveiled a new low cost exercised x prime smart connect bike or simply prime bike it comes with a 30-day free trial of echelon's on demand prie prices the sticker price is $1400 below that of the original peloton bike which came in at $2,000 originally t only closing down .04% is quite impressive if you look online, this bike looks remarkably similar the colors are even exactly the same where the adjustment dial is, very similar to the peloton bike, so much cheaper. i would imagine the functionally is probably almost just as good. the question is whether the classes and the computer system et cetera is good, but a hell of a lot cheaper, for sure. >> it can't be as good unless they hire alex that's the secret weapon. >> are you a big peloton user? >> i've had to be. there's nowhere else to go it's similar to a gym membership i covered alex and now i inhale confidence and exhale doubt and i think he's wonderful but i would say it's a reminder that the barrier to entry here might be pretty low, that other companies can

you bought back ford, bought back peloton, corvo, and i want to know why. >> i also bought back some of the clean energy plays here's why i perhaps got too negative wos week vgts it seemed to me that the market has been digesting, given biden's movement in the polls consistently having -- even a lot of the swing states, so i thought that the debate was biden's to lose, knowing where trump was going to come from, he was well prepared. i thought that's what we got i did not count on the risk to my negative scenario was also stimul stimulus i did that count on the positive news of stimulus that we got overnight and this morning, which reversed the futures so, look, the other factor was that the government had come out and said we're potentially going to blacklist smic, the largest chip maker in china, and then backed away. that was a doomsday scenario for, so i bought qorvo back. peloton corrected, i bought it the momentum continues, i keep track of their wait times on the treadmills now it's out and through, you know, for another two months forget about the bike, you can't get the new

we start off with peloton, up 190% this year it's september 1 guy, mo-mo or no-mo? >> you know i don't understand the game yet you start with me i was going to try to cheat off pete i'll play your reindeer games. i've thought this for a while. i think this is a no-mo. this is a fundamental story. i understand that momentum is behind it so maybe it should be bo-bo, both. but goldman sachs just slapped a $96 price target on it i think their ecosystem is wonderful. i don't think people are going to flee it once the world returns to some semblance of normalcy i think if i'm playing it right, no-mo, mel. >> you are i'm very proud of you, guy i really thought you'd mess that up i was like 99.9% sure and you did well pete, you're next. guy set the bar high we go to docusign, which surged more than 250% this year in terms of this stock, no-mo or mo-mo? >> i think it's a no-mo, mel this is another one of these names in terms of this is almost going to be a verb i think this is something that's going to stick for a while i do think we are going to see a lot of changes i think

. >> and know i'm on the peloton app without the peloton bike. >> we thought that you would get it for't happen. so i'm still doing the mat only exercises. i also do boot camp at home sometimes as well. and yeah, so mike, what are you doing? >> so birthday yesterday, and anniversary, and no peloton. i'm sorry. but still a special day no doubt. >> don't feel bad for me. >> no, you have a wonderful life. envio envious. let's talk about the weather. i want to jump in and show you what is going on in san jose. it is cloudy. smoke is at the surface unlike yesterday. tomorrow we'll also have unhealthy air and i think really saturday. it is really sunday where i think that we make the turn and start to see some cleaner air. here is a look at the water vapor. it shows the curl in the atmosphere and the smoke from all the fires in oregon are in the marine layer this morning. and so we have more low level smoke and temperatures below average once again due to the diffused nature of the sun from the clouds and smoke. 75 to 80 in the south bay. 7 # 71 to 77 on the peninsula. low to mid-60s along t

. >>> amazon is going to go head-to-head with peloton with its own stationary bike. connected fitness product at $499, roughly $1500 less than the peloton. doesn't have a screen. peloton has surged during the pandemic. it recently reported 172% increase in sales. it cut the price of its most popular bike by 15%. . >>> elon musk made some big promises during tesla's battery test. including a $25,000 tesla that would be available in three years. much cheaper than any car that tesla has made so far. the new battery designs and manufacturing advances could lower cost. musk has a history of underdelivering. years ago they promised a $35,000 model 3. >> the city of tel aviv is working on a game changer for charging electric cars. they are building an electric road. part of a public program funded by government and private source. the road will be less than half a mile. the pilot is successful tel aviv will look to expand athletic rick roads. >> jeff bezos set to open his first nonprofit pre-school. the school will be opened for in person class in seattle suburb on october

s&p's 21st record high of the year, futures strong again as the street raises tarts on names like pelotonnvidia and tesla, oil steady as signs of demand continue to improve. our roadmap begins with a futures surge, the s&p and nasdaq looking to build on tuesday's record closes, can this second half rally continue? >> then a stimulus stalemate the latest from washington as both pelosi and mnuchin talk covid relief. >>> and later it's been one of the biggest winners of the pandemic, why peloton is getting a new street high price target over at jpmorgan >> it's actually not a bad place to start right there, guys, because for the second day in a row, david, we have had some analysts raising targets even on names that they maintain at neutral, today it's b of a which yesterday kept apple at a neutral, they upped their target acknowledging moment tim today they do the same thing with tesla, this equity funding will fulfill growth and their price objective goes to 500 plus >> yeah. listen, every day brings more things that for me are reminiscent of the late '90s it's hard to avoid it. i made som

peloton went click and has had publicnt -- balaton went and had success. thought that was a positive add-on to the services segment. they came out with a bundle on that. that,f an attachment to recognizing that the market is very important. it ties into the watch. emily: moving onto the ipads, we are seeing apple run with this idea of every product being a family of products. we have the new ipad air with the fastest processor ever to be in an ipad, as well as the ipad pro and ipad eight, a cheaper version that might be more attractive to children, for example. the ipad line has kind of made a comeback in recent years. dan: you are exactly right. if we go back and look at the third quarter, ipads were up 31% in revenues. thatis a group or segment had kind of become commoditized. it was growing very fast. sudden, third quarter, , people wanting a device that is inexpensive. i think it is a good positive for them. following suit like with the watch. a lower-priced one in terms of gamead, then upped the and features. adding different things to the product to