☑️ Need a ride? Peloton sales were at the top of the leaderboard for the company's fiscal Q3, ended March 31. Sales of the overpriced stationary bike spiked 66% over the quarter as many began to stock up on exercise gear knowing they'd be stuck at home for the foreseeable future. The mind behind the infamous Super Bowl commercial is likely claiming that this was their plan the whole time.
The Tour de No-Pants bike makers reported a 20 cent loss per share and a revenue of $524.6M. On the news, it's shares rose 5%.
☑️ Better ingredients, better CEO, Papa John's. According to Papa John's, April wasn't so bad for everybody. The discount pizza-maker revealed that April was the best month in the company's history. CEO Rob Lynch spilled the beans on Wednesday in an interview with CNBC. It's like when you break up with a significant other (except in this case your SO uses the N-word at meetings and eats 40 pizzas per month) and show off just how good you're doing without them.
Papa J's saw a 27% increase in sales in North America, compared to April of last year. Lynch also said that menu innovations and third-party delivery services helped with the growth. But let's be real, Rob, no one's ordering the Papadia. It was coronavirus. Just admit it.
☑️ Catching a lifeline. After announcing it might not be able to stay in business on Tuesday, Norwegian Cruise lines got a $2B lifeline that it said will allow the company to remain open through 2020. Convenient… It raised the funds through $400M in new stock and $1.43B via two debt offerings.
Honestly, NCL might not want to be open past 2020 as 2021 is shaping up to be a rough one. The company used roughly $1.4B in credit to stay alive, $675M of which will come due in March 2021. Additionally, the company is offering 125% credits to passengers for canceled cruises, which will lead to further revenue declines through the end of next year.
☑️ Starfox. Fox reported a 25% increase in revenue during Q3 of 2020 to $3.44B, beating estimates of $3.33B. While it has struggled and highlighted losing some of its advertising partners in the manufacturing and auto industries, tech companies have been there to pick up the slack.
The company's sports division hasn't been as highly impacted by the shutdown either as most of its key programming takes place in the fall. And, with people at home, the FoxNews streaming service Fox Nation has blown TF up, with 80% of subscribers who sign up for free trial converting to full time.
Still, Fox cautioned about what lies ahead as it fears its 29 local TV stations could take a hit. It's hoping that advertising dollars will pour back in once the election comes around in November.
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