By Ben Glickman
Peloton Interactive and lululemon athletica signed a five-year deal to let each company focus on its core business. Lululemon will stop selling its Studio Mirror and will direct customers to Peloton’s fitness classes, while Peloton will start selling co-branded lululemon apparel. Peloton shares jump 17% to $5.44 after hours.
Micron Technology continued to show signs of weaker demand for its memory chips, with revenue falling sharply from a year ago and the company swinging to a loss. Micron expects to post an adjusted loss in the fiscal first quarter, though it anticipates a broader chip market recovery through 2024. Shares fall 4% to $65.51 after hours.
Vintage Wine Estates said it was amending multiple quarterly financial statements from the last fiscal year. Those changes prompted the wine producer to update its full-year guidance, now expecting slightly lower revenue. Shares advance 5% to 70 cents after hours.
Write to Ben Glickman at [email protected]
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