nevertheless, peloton's growth story is bikes.e think investors need to remember first, this is not peloton's first regulatory hurdle. peloton has dealt with music litigation and they also dealt with a recall on their pedals a few years ago. all the situations, peloton has come out stronger. second, children are not peloton's target market, so this is a very different story in terms of how this could impact demand, or how this can impact reputation than for example, a recall on toys or baby powder. third, we think the tread is actually a very easy fix in terms of enhancing safety. just two ideas i would throw out there -- they could put a bar underneath the machine or maybe even a sensor, and they could capitalize on the expertise of atlas wearables, a company they recently acquired. emily: we talked about this yesterday. it is not unknown that treadmills can be dangerous. there have been accidents on all kinds of treadmills before. but peloton is obviously such a big brand name. what is it that makes peloton treadmills more dange

>> we had been asking for a recall with peloton. >> reporter: instead it took weeks. today the ceo john foley apologized, writing "i want to be clear. peloton made a mistake in our initial response to the request that we recall the tread plus." peloton will provide a full refund, which could have more than a half a billion-dollar pricetag but the company, which is working on a fix, is also offering to move the treadmill to a safe location for free allison dooley already keeps her tread plus behind a locked door >> when i saw the headlines, i was like, no i was afried they were going to make us give it back. because we feel comfortable how it is. >> reporter: for now she says they will keep running stephanie gosk, nbc news, new york >>> there is breaking news out of italy this evening. two american tourists found guilt qi of murder for stabbing a police officer in 2019. both sentenced to life in prison. the two who were 18 and 19 at the time say they were acting in self-defense mistaking the plainclothes officer for a drug dealer after an apparent deal gone wrong. >>>

investors tomorrow let's get to tony zhang with the "options action" on peloton.t news of the recall wiped out $4 billion in market cap just today it's not surprising options traded actively almost half million contracts traded almost 7 types the average options contract traded. we saw a pretty interesting trade we don't see often a put condor about 740 contracts of the june 70, 80, 90, 100 put condor traded for $3.30 credit. this is an interesting trade from the perspective this trader is betting almost half million dollars that peloton will be below 70 or above 100 by the june expiration making a quarter million in profits if that's true but risking half a million double that if peloton stays between $80 and $90. really betting a big move on earnings tomorrow. >> interesting, tony, thanks, for more "options action" tune into the full show on friday 5:30 p.m. eastern. up next, we got your final trades ♪ ♪♪ ♪♪ ♪♪ flexshares etfs are built with advanced modeling. to fill portfolio gaps and target specific goals. strengthening client confidence in you. before invest

peloton's ceo john foley said in a release, i want to be clear peloton made a mistake in our initialuest request. for that, i apologize. now the peloton member facebook absolutely exploded on this news the vast majority of its very loyal following defending peloton saying things like treadmills have always been dangerous when used improperly peloton is being -- it affects about 125,000 tread-pluses, but 1,050 products within the u.s. there are two types of peloton treadmills this is the plus it has these unique rubber tiles. that makes it higher off the ground because of that height, objection, pets and people can be pulled underneath peloton just launched a lower-cost version, that's on you in europe and canada, but not fully larged in the u.s. the tread-plus would have represented about 2% of its unit sales this year, according to analysts at cow within the bikes are a far bigger business the recall is voluntary. the company is offering to move it to another room that might be safer. it's also pushing out a new safety feature where you have to put in a code to make the treadmill wo

peloton to recall the tread plus >> we had been asking for a recall with peloton. >> reporter: now peloton's made a mistake in our initial response to the consumer product safety commission's request that we recall the tread plus we should have engaged more productively with them from the outset for that i apologize peloton user brandon ratliff hopes today's announcement will prektd other kids after his daughter jocelyn got pulled under a peloton treadmill and suffered cuts to her leg. >> seeing her get sucked under and seeing how rapidly it happened, it was terrifying. >> reporter: peloton is offering customers full refunds on the machines, but the company is also offering to move the treadmill to a safe location for free alison duly already keeps her tread plus behind a locked door. >> when i saw the headlines, i was like, no i was afraid they were going to make us give it back because we feel comfortable >> reporter: these latest recalls not the first for peloton. last october the company recalled a version of its clip-in bike pedals after the company said it received 120 reports of break

. >>> peloton fans, this is for you. new details on a major recall on one of the popular products after a child was killed and dozens injured. >>> we have two words moosusic people's ears. early retirement >> something to make you smile on this thursday the best dance partner happens to be of the four legged variety. "early today" starts right now >>> hello there. good thursday morning. i'm phillip mena >> glad you could be with us i'm frances rivera we begin with a developing situation at our southern border where a record migrant surge has pushed border patrol agents to the brink. nbc news has gotten the firsthand look for a push by state and local law enforcement to help out. gabe gutierrez is in texas good morning, gabe. >> reporter: frances, good morning. the biden administration is now saying it has reduced the backlog at border patrol processing stations but that doesn't mean the number of migrants coming to the border is slowing. several law enforcement agencies hearsay they're overwhelmed. under the cover of dar

and here's abc's janai norman. >> reporter: tonight, peloton's about-face. >> with the peloton tread-plus. >> reporter: the company rcalling all of its 126,000 popular treadmills after renewed safety concerns. authorities warning about disturbing incidents like this -- watch in a split second as a 2-year-old playing with a ball gets sucked under the moving treadmill. as he struggles to get free, the top half of his body is then pulled completely under before he finally escapes and walks away. peloton previously resisting pressure from the consumer product safety commission to issue a recall last month after dozens of complaints of injuries and the death of a 6-year-old. today, the company reversing course. in a statement, the ceo now saying, "the decision to recall both products was the right thing to do. peloton made a mistake in our initial response." adding, "for that, i apologize." and david, tonight, peloton is working on software updates to address safety concerns. but in the meantime, urging customers to immediately stop using the treadmills and to contact the company for a refund.

up next, peloton stock sinking after posting quarterly results. plus vaccine makers fall out second day in a row as white house considers waiving patent protection, moderna is not concerned but should he be, investors are. we date when "fast money" returns. when "fast money" retus . returns. at when "fast money" returns. e when "fast money" returns. rt when "fast money" returns. when "fast money" returns. when "fast money" returns. when "fast money" returns. when "fast money" returns. when "fast money" returns. th when "fast money" returns. a when "fast money" returns. t when "fast money returns. wealth is breaking ground on your biggest project yet. worth is giving the people who build it a solid foundation. wealth is shutting down the office for mike's retirement party. worth is giving the employee who spent half his life with you, the party of a lifetime. wealth is watching your business grow. worth is watching your employees grow with it. principal. for all it's worth. you did it. a steakhouse with a vegan menu... that serves dinner at 4:30. p

peloton one sell rating to cover it, just two buys.hares this morning modestly higher carl >>> jon, a theme we thought we'd have our dom chu look into work-from-home levels. to labor day. >> mentioned peloton lost rafly half its value look at work-from-home, stay-at-home names during the pandemic covered so much because of such a tear look at names in the pullback in trade we talked about. docusign, electronic signatures, up 64% still on a one-year basis. that white line you see there from the highs we've seen is now down roughly one-third of its value from where we saw it at its highs here look at chewy. still a 77% gain, but lost about 40% of its value since its highs we have seen recently here you see the orange line. then teledoc health, green line, down 14%, a one-year basis lost roughly half its value since the highs we saw over the course of the last several months's to show you, more of those names, following peloton in that same theme going lower. of course, peloton has its own issues one stock, the poster child of that partic

you know, peloton has been a name that we've owned for quite some time. love the story. of course we all know how great the pandemic was for peloton we really have felt that this is going to continue -- that the peloton story will continue to unfold long after we're all back to, you know, moving around freely in the world. and so we actually did not buy this week because we were really waiting on really the earnings call, which i haven't heard. but really the earnings call to really have some more color around how they were going to handle the recalls but really kind of looking at these, the sales of the tread really only represent about 2% of their sales this year, right? and so they generate most of their income from the bikes, the exercise bikes, and also the subscription services. then when you look at the subscription, only about 6% of their subscription is from the treads so we understand that this is a huge deal and they really have to get past the optics of this, but we do believe they're going to continue -- that they can get over this and contin

let's get to peloton. shares dropping 20% in intraday trading. this is the most all the way back to november 9 when vaccine news hit stay-at-home stocks. peloton is one of those. i want to get to those earning stories, seems to be an important piece. shares are up, that means they beat their estimates, videogames boosting their full-year guidance, something tech watchers are paying attention to. paypal beating estimates. also seeing some stocks to the downside. the forecast not meet analyst expectations. you did see good news out of uber, beating estimates, strong delivery growth. that earnings call is going on, maybe they can reverse course. emily: bloomberg's kriti gupta. i want to dig deeper into over's results with angelo. give us the highlights as they stand out to you. we know demand is picking up but over and but dark having trouble eating with supply. angelo: in terms of uber and the results, we had an indication of what numbers were going to look like. on both ends, in terms of the booking side of things, i think what caused the stock to

you mentioned peloton.on, we doubled -- [inaudible] so we expect great things without having to charge late fees. liz: well, we're happy for you that the model seems to be working, and we're continuing to follow it. a please come back again. >>> up next, monster trucks return. we have the monster jam trucks and the story of louvre entertainment coming back. -- live entertainment coming back. dow is up 240, we're coming right back. ♪ ♪ it's not some magical number. and it's not something we just achieve at the end. it's a feeling... of freedom to live our lives the way we intended. though the ups... ...the downs ...all of it. this is financial security. and lincoln financial solutions will help you get there as you plan, protect and retire. this is lincoln financial. hi, i'm debra. i'm from colorado. protect and retire. i've been married to my high school sweetheart for 35 years. i'm a mother of four-- always busy. i was starting to feel a little foggy. just didn't feel like things were as sharp as i knew th

it was peloton apologizing, john apologizing for peloton's actions.to speak to is the implication on demand, the implication on the full betters and the he reality here -- numbers, the reality is the peloton valuation was hinged on new product line is. the next new product line, was the pell ton tread. i think one thing that was surprising, in addition to the tread plus, the more expensive one we've seen the video on unfortunately, is that the lower price option that was going to be introduced imminently was included as well for a different reason. i think what we're seeing now, the he question we have to ask for peloton on the demand perspective is what does this do to the consumer. does the person who is about to buy a tread who is a lock to buy a peloton tread start re-evaluating and thinking there's other options out there. to me, that's how i'm thinking about it. the question about the legal impact makes a world of sense. it's above my pay grade to know how that's going to play out. maria: simeon, what do you think is the growth story right now a

peloton stock down nearly by half since the start of the year in a year? it is up 102%.ak in february get on that, peloton if you are going to shake shack. story number two shares down sharply. earning beat the street that sales fell short as it ramps up expa expansion. shack getting shook. down 8%. stock number three roku shares are up 8% results topping expectations sales jumped 79% during the quarter. guess what at home streaming continues to be a big trend roku, like peloton, well off from the beginning of the year roku was a nearly $500 stock in mid-f mid-february it is up this morning. quote, only to $306.50 >>> we have a long way to go this morning still on deck. the new normal do you want to know what the workplace, maybe your work place will look like, in the next six months the ceo of avaya has the latest on the technology you need as we get to that next >> announcer: today's big number $207.94. that was the revenue per available room in downtown cleveland hotels on april 29th as the nfl draft boosted daily hotel performance to a 532-day high that's more than d

trading, because peloton third-quarter results are due.sts at bloomberg are looking for revenue and a wider loss. they will be having a lot of pieces to get to, especially with this recall. matt: coming up, india is not the only country seeing a surge in virus cases. we discussed the global implications with andy brown at bloomberg was a economy forum. this is bloomberg. ♪ >> compton. -- i'm mark crompton. the centers for disease control and prevention is also warning that substantial increase in hospitalizations and deaths is possible if unvaccinated people do not follow basic precautions such as wearing a mask and keeping their distance from others. 3000 new cases each week, more than 4000 deaths. a federal judge in washington is ending protection for renters who lost their jobs during the pandemic. a judge ruled the agency overstepped its authority are issuing a broad moratorium on all rental properties. the cdc ban was enacted in september and was originally set to expire at the end of this year has been extended through the end of jun

you mentioned peloton and twilio we bought peloton when it was down from $160 to $10 h4, and w boughtagain at $84 last week because it has earnings power. the same with twilio we have trimmed that stock four times now and we still own some, but we are playing with house money because it has been such a tremendous stock for us since we owned it >> all right >> in the last, you know, year and a half >> so forgive me for cutting you off. i got to go to ylan mui who has breaking news for us regarding bitcoin and currencies bitcoin is on the move and ylan is going to tell us why >> scott, the white house proposed broad any tax information reporting requirements and the treasury department said today it would include not just cryptocurrencies but also crypto asset exchange accounts and payment services, and for businesses that receive crypto assets of $10,000 or more. now, the treasury department is also projecting it could lose out on $7 trillion worth of unpaid taxes over the next decade that's roughly 15% of taxes owed that tax gap was $584 billion in 2019 according to treasury estimates

. >>> more problems for peloton one day after announcing a massive recall after the death of a child, word of a security flaw exposing customers' private information. >>> decisions, decisions. meet the identical twins who were offered $24 million in college scholarship money. what they've learned that's a lesson for all of us. >>> and later, the little boy who mistakenly ordered thousands of dollars worth of popsicles online. why he may not get in trouble. >>> good thursday morning, everyone. >>> we begin with a historic power struggle unfolding within the republican party. the trump republicans versus the cheney republicans. >> congresswoman liz cheney has just delivered a stark new message to herolags. she's warning them to abandon former president trump's election lie or face the consequences, long-term damage to their party and their country. >> but another congresswoman is already waiting in the wings to step into cheney's leadership role, and she's picking up some key support. abc's faith abubey has the latest from washington. faith, good morning. >> reporter: hey, good morning

and wait til you see peloton's stock. it is having just a horrible day. but breaking news, president biden speaking at the white house just moments ago about checks in pockets and shots in arms. the president touting the success of his american rescue plan that has sent out 163 million in rescue payments and help add mored 220 -- administer 220 million coronavirus vaccines. he was then looking forward and hammering his home on the need for infrastructure now. okay. what he, in essence, said was that the infrastructure plan is now something that he's going to put all of his earth into it. it's $-- effort into it. it's $2 trillion. still a work in progress. while billions are slated for roads, tunnels and bridges, it is perhaps the $100 billion more updating the nation's electric grid that might just be needed the most x. if anything proved that, it was the texas ice storm this past february where where 67 people died as electricity across 25 counties suffered massive outages. here in a fox business exclusive, pseng chairman ralph izzo, pse and g services m

i need to know should i be worried if peloton sales turned out? >> no, so i think you're exactly right. first of all, it is tragic and i am very saddened for what happened but i do think that peloton is taking the issue right head on and, you know, john is really stepping up to do what is right. i'm very thankful for what they have done for us as a business and i think the partnership is incredible for many years and they're just fine. they make great products and will do what's right and we'll be there with them we stated everything about financial expectations it's not going to have material impact on us and very bullish on the partnership going forward. i don't think you should be worried about peloton. >> that is my concurrence but if i didn't bring it up, people would say come on, jim max, we would have known what happened and the stock would have had a big move. the founder, chairman and ceo of affirm a product we like very much and good to see you back on the show, sir. >> thank you so much i'd love to come back any time you'll have me. >>

carolina: sÍ que hay muchas preguntas sobre el tema de pelotÓn. antes de noviembre. otras van a tener sÓlo una actualizaciÓn para que se puedan bloquear. aylÉn: se espera que el 10% de los regrese antes de junio. periodista: se espera que regresen casi mÁs de 100.000. aylÉn: imagÍnense la pÉrdida econÓmica para esta empresa. ante todo, la seguridad. carolina: cada una en su casa decide quÉ es mejor para su hogar. ahora, cambiando de tema, pfizer busca la aprobaciÓn de la fda para su vacuna contra el covid—19. presentÓ la solicitud con datos de fabricaciÓn y ensayos para lograr la plena aprobaciÓn para personas 16 aÑos o mÁs y solicitÓ la ampliaciÓn para incluir a niÑos de 12 a 15 aÑos. pidiÓ que emitan su decisiÓn, en caso de tres meses. aylÉn: mÁs del 30% de la poblaciÓn se ha vacunado completamente contra el covid—19. ¿otra en las escuelas exigir que sus empleados y estudiantes se vacunen? la respuesta no estÁ tan sencilla. carolina: te contamos mÁs de este tema que veremos este domingo en "aquÍ y ahora". tifani roberts, hablemos del tema de las

peloton treadmills on recall and another female-owned business goes public. diane king hall has those stories and more in today's money watch report. >>> president biden supports a proposal from world trade organization to suspend patent protections for covid-19 vaccines. this would help vaccine strapped countries to produce their own shots rather than wait for companies like pfizer and moderna. pharmaceutical trade group in u.s. opposes arguing that it could weaken supply chains. >>> peloton recalling treadmills following death of a 6-year-old child and more than two dozen injuries to kids. users will get full refund if they return it by november or they can have peloton move the treadmill to a location where children and pets can't get to it. the company is implementing software update that will require a code to unlock the treadmill. >>> wall street mixed wednesday, dow rose 97 points. nasdaq fell 51 and s&p 500 gained two. >>> jessica alba's company went public yesterday. shares traded 43% higher clos ing above $22. the company offers nontoxic natural bab

peloton recalling all of its tread mills following multiple injuries and even one death. the company is advising customers who already have products to immediately stop using them and contact peloton for a full refund. the u.s. consumer product safety commission had previously warned about peloton tread products last month. >>> pre-teens could soon be rolling up their sleeves. the promise president biden is making if the government gets the go-ahead for kids 12 and up to get the covid shots and finally reunited. the heartwarming moment when a son and mother comes together after being separated at the border just three years ago. >>> and kelly clarkson celebrates cinco de mayo with the cast from the new peacock series "girls forever." this is a series that feature former '90s girl group working to make a successful comeback. kelly drinks margaritas with the laides and one cast member joins in person. who will it be? make sure you check it out this afternoon coming up at 3:00 this afternoon. california's choice beauty? pretty boy. or a beast? john cox grew up with nothing;

peloton finally agreed to a voluntary recall of its treadmills on wednesday.e models was linked to the death of a child along with 29 other injuries. the company predicts the treadmill recall will cost it $165 million. >>> airlines have banned more than 4,000 passengers for unruly behavior in the last year. people who act out are hit with a fine as part of the faa's zero-tolerance policy. in one case the federal government is requesting more than $32,000 in penalties. in that incident a passenger on a jetblue flight in february refused to wear a mask. officials say she threw anty ae another. >>> and twitter rolled out a new tip jar feature. it will allow users with apple and android devices to send money directly to their favorite accounts to support their work. the feature supports a variety of payment options and links including paypal and venmo. twitter will not take a cut of the cash. the social media site says it will be available first to select creators and nonprofits. i guess this is an online -- don't forget to tip your waitress on the way out. >> yea

. >>> peloton finally giving in. recalling the treadmills for safety reason and the stock tanks as the ceo says sorry. >>> and china is getting more aggressive around taiwan a former cia official is here. >>> and get ready for the summer of travel. another executive out with an optimistic take and what he is seeing right now you oon this thursday, may 6th on this "worldwide exchange" here on cnbc ♪ ♪ >>> good morning, good afternoon or good evening. welcome from wherever in the world you may be watching. i'm brian sullivan happy thursday let's get right to it. here is how your markets and money and global markets are setting up futures are higher once again. not by a lot, but the dow up 26. nasdaq up more futures up 36 right now. all this after janet yellen quickly did a u-turn talking up higher rates on tuesday and changed her mind on tuesday night and that changed for wedn wednesday. the blue chips were up again nasdaq, by the way, in the big tech rotation, seeing the fourth straight losing session. now its longest

the company says it will offer full refunds for the peloton tread plus treadmill through november andselling them as it modifies the hardware. the move comes less than a month after the company denied they were dangerous saying it would not pull them from the market. so an aboutface. >>> the paycheck protection program meant to help small businesses ravaged by the pandemic has run dry. the program officially ends at the end of the month. only a billion dollars remains, but it's earmarked for businesses run by women, minorities, and other underserved communities. that largely leaves the window closed for most businesses. right now it's unclear if lawmakers will approve another round of funds. >>> and now's your chance if you want to score a ride to space. blue origin, the aerospace company owned by amazon founder jeff bezos, is auctioning a ticket for the first manned flight in july. the 60-foot capsule is designed to accommodate six people. five trained astronauts will be on board. people can submit a bid on blue origin's website now through june 12th. anne-marie? >> so would you? >>

all right, tonight, peloton is recalling all of its treadmills, and the c.e.o.ologizing after a child was killed by one of the exercise machines, and dozens more injured. cbs' anna werner has been following this story. >> reporter: video of a two-year-old boy in northern virginia being dragged under the 455-pound tread+ alarmed parents and regulators who last month warned consumers with children to stop using the machine. at the time, peloton's c.e.o. said he had no intention of recalling the treadmill. but in a statement today, john foley said "peloton made a mistake in our initial response to the consumer product safety commission's request that we recall the tread+. we should have engaged more productively with them from the outset. for that, i apologize." the boy in the video survived, but another six-year-old child was killed. brandon ratliff's daughter was injured. >> her leg got pulled underneath the actual treadmill, and it dragged her under, and thank goodness i was in the room. >> reporter: the c.p.s.c. says there have been more than 70 incidents to da

could peloton's pain lead to gains for rival nautilus? ceo jim bar here to answer that question and yeah, inflation, a lot of that equipments made with steel, iron ore what's he experiencing right now, closing bell ringing in 45 minutes. folks remember low of the session for the dow is a loss of 574, we're down 563 right now and dropping. we're coming right back. stay restless with the icon that does the same. the rx, crafted by lexus. lease the 2021 rx 350 for $439 a month for 36 months. experience amazing, at your lexus dealer. $439 a month for 36 months. some days, you just don't have it. not my uncle, though. he's taking trulicity for his type 2 diabetes and now, he's really on his game. once-weekly trulicity lowers your a1c by helping your body release the insulin it's already making. most people reached an a1c under 7%. plus, trulicity can lower your risk of cardiovascular events. it can also help you lose up to 10 pounds. trulicity is for type 2 diabetes. it isn't for people with type 1 diabetes. it's not approved for use in childr

, but i love my peloton, john.o have you thank you very much on this very busy tuesday. so yes, we know that if goldman sachs is betting on shake shack and its realizes cream shakes, could the hotter trade actually be its dairy-free competition? here comes the 800-pound gorilla in the food space, kind bar founder on the cold competition he's bringing to the ice cream aisle in a very big and fast- growing sector. the closing bell ringing in 36 minutes. look at this , while our traders were talking, the dow lost about 40 points off a close we're now down just 35. just over a year ago, i was drowning in credit card debt. sofi helped me pay off twenty-three thousand dollars of credit card debt. they helped me consolidate all of that into one low monthly payment. they make you feel like it's an honor for them to help you out. i went from sleepless nights to getting my money right. so thank you. ♪ ♪ liz: well summer, yes, we know is just around the corner and here come a whole bunch of sectors that depend on summer, but

details on a major recall from peloton.hat you should know. >>> and probably a little too hot for you lately but this system's going to turn down the heat and i'll show you what else to bring coming up in just a few minutes. >>> as part of our climate in crisis reporting tonight we look at those people whose jobs are now more dangerous and deadly as a result of the dramatically increased fire danger. >> we're of course talking about firefighters. now facing more fires, more toxic smoke than ever. we also have new evidence of more poisons in the air that they breathe and even in the gear that they wear. nbc bay area's terry mcsweeney has the problem and potential solutions. >> reporter: the 2018 camp fire, the deadliest and most destructive fire in california history, at its peak 6,000 firefighters were deployed at the camp fire. one of them led a 22-member crew. san francisco fire department battalion chief matt alba. >> it was like a war zone. >> reporter: when the fight was over, alba, on the board of the san francisco fi

peloton riders beware. still ahead at 5:25 on "today in the bay," a data breach and the latest on the recall alert involving one of its most popular brands. >>> and back to work, literally. several more companies saying when they will allow employees to come back to the office. >>> plus, a story some parents, i'm sure, will be able to relate to. so the big money this little 4-year-old -- cute little guy, right -- he accidentally spent a lot of money on popsicles. mom wasn't too happy about it. that story up next. >>> good thursday morning. right now at 5:13 if you're on your way out the door, maybe we'll be headed to oakland and the coliseum. looks pretty good with our temperatures at 50 degrees and the winds picking up especially going into the afternoon. our brief cooldown and what's ahead this weekend as well as our climate in crisis coming up in a few minutes. >>> and if you're heading out of contra costa county toward dublin, looking at pleasanton, sunol. we have a crash and it won't clear lanes. for o

this is really the testimony of fitness peloton.effrey simmons took the company and made it into a power house that stock goes higher i can't wait to see it >> jim, what a week. >> happy mother's day. >> yes happy mother's day enjoy saturday night live. >> of course >> "mad money" 6 p.m. eastern time mo "ua othstetinresqwkn e re" a moment my parents worked long hours and i helped raise my younger brother. when college felt out of reach, the kpmg future leaders program was there for me. it was more than a scholarship. it was four years of mentorship and support. today, i'm an investment banking analyst and i'm just getting started. the kpmg future leaders program. empowering young women to reach their potential since 2016. >>> good friday morning. welcome to another hour of "squawk on the street. morgan brennan has the morning off. what a morning we've been all over the map. record highs on the dow and s&p. big miss on jobs biggest in a couple decades. 266. looking for about a million. it's set up a debate about the degree to which t

look at peloton up ten and half percent, hands-down peloton has been the symbol of this trend soaringver-year, workout equipment maker novelist has done better jumping 185% over the year and apple recently launched its own digital fitness offering. here comes the company looking to not only knock pellet and off the spin bike but crush all of the fitness rivals beach body brand-new interactive streaming platform out and bringing subscribers live and on-demand studio classes that you can interact with. the at-home option coming on the heels of a major jump in sales revenue blasting 43% higher since announcing plans to go public there will be a 3 billion-dollar with four start acquisition admit fitness that was announced back in february when that coming to pass, the body build to the top of the fitness chart beach body carl daikeler live in interactive, make the case that what you brought out, this is going to be more attractive than going back into the gym which is a lot of people doing this week. >> the surveys that we've seen, all the research points to the fact that the digital disr

. >>> dozens of injuries in a deadly accident on a treadmill by peloton. why the company is reversing course. >>> and we're revealing the 2021 teacher of the year and also have a very special surprise guest. >> it's a good surprise, i promise. >>> but first here's your "eye opener," your world in 90 seconds. >> we may finally be seeing the light at the end of the pandemic tunnel. >> the cdc is predicting a drop in covid deaths in the coming weeks. >> every day with the daily cases continuing to fall, we're hopeful about the really encouraging trends. >>> congresswoman liz cheney in an op-ed calling on her own party to abandon president trump. >> there's a midst of a revolution in the republican party. >>> a man shot outside by a police officer being reinstated at the department. >> i'm fighting against the hypocrisy going on. he's been bad on every issue. >>> peloton is agreeing to recall all of their treadmills now that they caused a death of a child. >>> and -- >> it's going to be exciting. >> kate middleton and prince william is launching a youtube chan

peloton estimates the recall will lead to for al. th is your cbs money watch report. >>> a trust set up for some 67,000 victims of pg&e sparked wild fires spent nearly 90% of its initial funds on over heads while people who lost homes and businesses waited for relief. that is according to an extensive investigation which found survivors received $7 million in pay outs the first year while more than $51 million went to attorneys, claim reviewers, project managers and others. an unidentified spokesperson told us the trust has increased its payments to families dolling out about $195 million so far. the average payment about $13,000. >>> it is 4:46. let's get a check of our weather. good morning. >> good morning to you. we are look at the strong on shore flow for were going to see the winds change direction out of the north. so offshore winds developing for tomorrow. that is a big concern with that high fire danger. here is a live look at our sales force tower camera. temperatures running in the mid to upper 40s to low 50s at this hour.

weighing on the nasdaq as well microsoft, facebook all lower, peloton getting slammed after recallingstrength in technology apple and google are higher. a split picture there. some of the chip stocks are higher as well there goes to mill nasdaq pulls back .4%. small caps pull back .3% the streak we have seen for the nasdaq, underperforming. >> enough for a record closing high for the dow remarkable split performance in that regard. welcome to the "closing bell," everyone i'm wilfred frost along with sara eisen, and mike santoli, cnbc senior markets commentator. the dow closing 20 points or 30 points or so above its recent record up .3% the nasdaq just below the flat line s&p down .4% and the sector performance in the s&p speaks as well to the difference in the performance of the headline indices energy, finance and materials the best performing. utilities, real estate, consumer discretionary at the bottom of the pile results from uber, paypal, booking holding, et ceteray, zynga all about to be released we will have analysis when the numbers cross. josh brown still with us and -- joins

. >>> and number seven, the ceo of peloton says new safety features are coming for the treadmills.here have been 72 reports of injury, including the death of a child. >>> you can check out the first of its kind boat docked in san francisco today. the energy observer is the first zero emission vessel to be self sufficient. it is power beside i winds, sun and hydrogen made by processing sea water. the project managers say they are in california so they can just show off the boat and also meet with environmental stakeholders. >> we want to find solutions for the maritime community because we know that 80% of global worldwide commerce uses the shipping precipitation. >> the boat will be docked at pier 9 until may 13. that is when it sets sail for hawaii and tokyo. >>> in today's "gma first look", scientists are monitoring an out of control chinese rocket falling back to earth. it will reenter the atmosphere as soon as this weekend. here is abc's gio benitez. >> reporter: in this morning's "gma first look" tracking an out of control rocket. >> you have a big, long cylinder that is tumbl

peloton and snowflake were basically flat on the day. let's talk about it all. what do you make of the action in the high flyers today, tim? >> first of all, welcome to "fast money." >> thank you. >> great to have you here. today i think, as you said, big cap, megacap tech names outperform the most important dynamic for markets to move higher the semiconductors were really the leaders. and the market leadership from technology is coming from semis if you think back to the smh, the eft that tracks the semiconductor index, hit all-time highs in mid-february in fact, it had been under a lot of pressure in the pull back that we saw that really turned around early last week but back above the 50 day for the semis is an important dynamic. again follow through from the apples which staved off that 200 moving day average some of the technical support from the farkt from megacap tech is very important. then you have seen the broader participation as you said. financials, retail, even energy back in the game today so very, very important day. to me semiconductors and then

. >> new certainly not good for peloton. we're doing the story today about how they're now doing a recall of their treadmill. yes, this is something that's been going back and forth between them and the consumer product safety commission right. >> yeah, not for very about a week safety division basically sets up along the lines of one kid has died. lot of people have been injured. it's an unsafe product and peloton cvs said, you know, we'll fight on this we don't think so. a week later he jumped on his sword and said i'm sorry with a complete recall on the treadmill. plus of that right now. not the bicycle worthy of note stock fell about 8% today on the news of recall. it's down about 3, 4%, right now. it's a ceo doing right. they jumped on the sort saying i'm sorry, i was wrong. especially when there's a death of a child involved which is absurd to most people when it comes to treadmills. so that that's kind of a brand smart thing to do for lack of a better word. not the end of peloton, my world invested in stocks and i don

peloton rejected a call to pull its exercise machines two months ago.esday is peloton ceo mr. john foley, and thank you for joining us this morning. as we mentioned you are recalling more than 125,000 treadmills. you released a statement wednesday apologizing for the delay, but why did it -- why did you decide to do it now? >> yeah, thanks for having me, michael. i have to say by far the most important thing to us at peloton is the safety of our members. it always has been. and subsequently we did make a mistake by not engaging with the consumer product safety commission in a more productive dialogue earlier in this process. but this week with this recall, we're stating unequivocally that not only are we going to be the innovators in this new connected fitness category, but we're also going to be leaders and we have a responsibility and obligation to be leaders in product safety and indoor fitness equipment category and we're absolutely going to do that. >> one lawmaker called this dangerously delayed. we've seen reports of injuries nearly doubled in th

the peloton ceo said they made a mistake in a government request for a recall back to you, deirdre >> hard today. >>> meanwhile yesterday's selloff across tech a reset? bob, you say no, but tech stocks, they have split into two separate groups, right, maybe more of a bifurcation? >> that's exactly the way to look at it is tech resetting? don't bet on it. i agree, it's bifurcating. tech has been a notable under performer recently since earnings season began, the week of april 26th, tech has lagged the reflation sectors, energy, industrials, financials, trading down 4% as a group here. look closer and you can see that tech is really splitting this is the bifurcating. schematic tech, a former darling, clean energy, kathie woods, arc innovation, cloud computing stocks, electric vehicles, other tech themes all peaked in mid-february as the rates began to rise and they've had a tough time since then. well off of their highs. clean energy in particular has had a lot of trouble many of the solar stocks, fuel cells, sun power, sun nova, they're at their lows for 2021 today. it's been a rough c

peloton has issued a voluntary recall for its treadmill.ld died in the least 39 others were injured. >> the consumer product agency says they received multiple reports of children becoming entrapped pinned and then pulled under the rear roller of the product while a parent was using the equipment. there are other reports of pets and objects also being in beneath the treadmill peloton is no longer selling or distributing this treadmill while it make some modifications owners with pets or children should stop using this one immediately or lock it in a room when you're not using it. it's time now to check in with newsnation to see what they are working on tonight. joe dolan brings us a preview from chicago. >> social media jail will have donald trump's response after facebook uphold the ban on his accounts. do private platforms have too much control over speech and the opposite of a baby boom us birth rates continue to drop what it could mean for our economic growth in the future tonight on the donlon report. now here's marni hughes with more

i can't embrace a stock like peloton right now. understand, those stocks from 2020, boy, the comps are going to be difficult for them in the coming quarters. >> i just don't understand -- what, kate, what keeps us from breaking out of sideways why do we have three people leading into you all saying the same thing, and it's a whole lot of nowhere >> i think we're in a trading range for the next little bit. a perfect camp if we can separate out the economy where we are super bullish, see tons of acceleration over the next couple months and the equity market where i think we'll have a bit of a pause look, i think there are three things that will hold back the equity market from breaking out as to meaningful new highs in the next few months. the first is digesting inflation. we know prints will be higher. so that's going to take a movement my team have been out front. and we real ly and see how it gets priced into markets the third thing is something that cake up a lot, which was around supply-chain challenges across many different ind

. >>> peloton has released a safety update for treaustrdm. ac lock feare that quiresurigitodfg eadml. e chine will also lock afterondi of a class. earlier this month, peloton recalled 125,000 treadmills following a child's death and dozens of injuries. >>> and no five-star rating for some passengers. uber is out with its annual lost and found index. among the most popular are cameras, phones, keys, and backpacks and luggage. the most forgetful cities are austin, ft. myers, and nashville. some of the most unique items include a tooth that fell out of someone's pocket. a cooler full of fish. ew. a mannequin head. a crystal chandelier, and a toilet seat. also ew. anne-marie? >> also ew. yeah. i was looking at the other things on that list. 22 bundt cakes, a pan of mac and cheese. i feel like there are an awful lot of people traveling to potlucks in uber. there are a lot of things left behind. >> man, the bundt cakes. poor thing. happy driver, though. yeah. >> yeah, right. exactly. diane king hall in new york. thank you so much, diane. >> you bet