In July, the housing market witnessed a notable shift as closed sales of previously owned homes experienced an uptick. According to the National Association of Realtors, these sales rose by 1.3% when compared to June, reaching a seasonally adjusted, annualized rate of 3.95 million units. This increase marked the first gain in five months, although it’s important to note that sales were still 2.5% lower compared to the same period last year.

Peloton has made an important announcement regarding its subscriber model. On Thursday, it revealed that new subscribers who purchased their fitness hardware through the secondary market will now be charged a one-time $95 activation fee. This decision comes in response to the growing trend of consumers opting to buy lightly used Peloton equipment at a much lower cost compared to the typical retail prices. The Rise of Secondary Market Subscribers The activation fee is applicable to subscribers in the U.

The Food and Drug Administration (FDA) took a significant step on Thursday by approving updated Covid vaccines from Pfizer and Moderna. With the virus experiencing a summer surge, these new shots are set to reach a large number of Americans in the coming days. Vaccine Target and Effectiveness The newly approved vaccines target a strain known as KP.2, which is a descendant of the highly contagious omicron subvariant JN.1 that started circulating widely in the U.

Peloton, the once-struggling connected fitness company, is showing signs of a significant turnaround. On Thursday, the company announced that it’s emerging from the red, achieving a slight sales increase for the first time in nine quarters while also reducing its overall losses. This positive news led to a remarkable 35% spike in its shares on the same day. Quarterly Performance Highlights Sales Growth: During its fiscal fourth quarter, which ended on June 30, Peloton managed to grow its sales by 0.

Macy’s, a well-known department store operator, has faced significant hurdles as it tries to navigate the current retail landscape. On Wednesday, the company slashed its full-year sales forecast, citing difficulties in attracting shoppers who have become more selective and the need for increased promotions. Adjusted Forecast and Expectations The retailer’s updated full-year net sales forecast now ranges between $22.1 billion and $22.4 billion. This is lower than the previous anticipated range of $22.