An Hour Ago
Xponential drops after CEO placed on suspension
Xponential Fitness shares tumbled more than 9% on Monday after the top executive was suspended indefinitely.
CEO Anthony Geisler has been placed on suspension without a return date and is an inactive member of the board, the company said late Friday. The move comes after Xponential received notice last week that it was being probed by attorneys.
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Xponential, 1 day
Xponential previously disclosed a Securities and Exchange Commission investigation in December. The Pure Barre and Club Pilates parent had been accused of intentionally misleading investors and franchise owners by providing incorrect information.
Shares of the fitness company, which is also the parent of CycleBar, have plummeted nearly 40% so far in 2024.
— Alex Harring, Brandon Gomez
28 Mins Ago
Morgan Stanley ‘remains confident’ inflation will fall in 2024
Morgan Stanley sees inflation moving lower this year, the firm’s chief global economist wrote in a recent report.
“While Wednesday’s report will be critical for the timing of the first cut, regardless of the print, we remain confident that inflation will trend lower over the year, making the question when, not if, the Fed will cut,” wrote Seth Carpenter, pointing to April’s CPI report, which is due to be released Wednesday morning.
The economist clarified that while the timing of the first cut is up for debate, the path for the year is unlikely to change too much.
— Lisa Kailai Han
56 Mins Ago
Cocoa prices tumble 19%, head for biggest daily drop since at least 1980
The hand of Alain Kablan Porquet in dry cocoa beans, in Gagnoa, Ivory Coast.
The Washington Post | Getty Images
Cocoa prices dropped more than 19% on Monday, giving up some of the gains that boosted the commodity toward record highs this year.
Prices last traded at around $7,175, after dropping about $1,700 per metric ton. This drop would mark the biggest intraday decline since at least 1980.
— Samantha Subin
An Hour Ago
Walgreens, GameStop and Intel among stocks making biggest midday moves
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