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Instablog9ja
Alleged Backst@bbing: I’ve Forgiven Jnr Pope And I Wish His Family The Best — Actor Yul Edochie
~0.4 mins read

Actor Yul Edochie has said he has forgiven Jnr Pope and he wish his family the best.

Speaking about forgiveness, forgive him completely. It hurts deeply when a friend you love, took like a brother, stood for and shown love over the years turns around to st@b you in the back repeatedly without remorse.

Sadly that’s the world we live in. Humans are filled with flaws. To err is human, but to forgive is divine. So he forgive him and wish his family the very best.

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Investopedia
Peloton Interactive Stock Tumbles As Company Takes Steps To Rework Debt
~1.4 mins read

Peloton Interactive (PTON) shares plunged Tuesday after the struggling fitness equipment maker and exercise program provider announced what it called a “global refinancing” plan to rework its debt.

The company, an investor darling during the COVID-19 lockdown, said Tuesday it would offer $275 million in convertible senior notes due in 2029, and enter into a $1 billion five-year term loan facility. In addition, it will add a $100 million five-year revolving credit facility.

Peloton noted that the money raised from the debt sale and new credit facilities, together with cash on hand, would be used to pay off about $800 million of its convertible debt due in 2026, refinance its existing term loan and revolving credit facilities, as well as pay fees.

The moves came about three weeks after the company announced “comprehensive restructuring efforts,” which included slashing its workforce by 15%, or some 400 employees, continuing to reduce its retail showroom footprint, and reimagining its “international go-to-market approach to be more targeted and efficient.”

At the same time, Peloton explained that CEO Barry McCarthy was stepping down, a little more than two years after taking over from co-founder John Foley and launching a massive shakeup of the firm as post-pandemic sales slumped.

Peloton became one of the hottest companies during the COVID-19 outbreak, when those stuck at home because of lockdowns bought up its equipment and services. However, once the restrictions ended, demand sank. 

Shares of the company were down 15.5% at $3.30 at around 2:15 p.m. Tuesday. The stock has lost more than half its value over the past 12 months and is down 98% since hitting their all-time high in January 2021.

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Instablog9ja
What You Must Do Before Agreeing To Marry Any Man — Lawyer Educates Nigerian Women
~0.3 mins read

A Lawyer has educated Nigerian women on what you must do before agreeing to marry any man.

She said ladies should t@ste the male organ to know if it is standing or if er£ction is possible because deceit is a ground for divorce under the law as the law is not against s+x before marriage and it’s not an offense under the law.

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Instablog9ja
Internet Fr@ud: EFCC Harvests 20 Suspended Yahoo Boys In Abuja
~0.4 mins read

The Operatives of the Economic and Financial Crime Commission (EFCC) has harvested 20 suspended yahoo boys in Abuja.

EFCC on Tuesday, May 21, 2024 arrested 20 suspected internet fr@udsters in the Federal Capital Territory, (FCT), Abuja.

The suspects were arrested in the early hours of the day at the Lugbe axis of the FCT following credible intelligence about their suspected involvement in online criminal activities.

Items recovered from them include a car, laptops and phones. They will be charged to court upon conclusion of investigation.

 

 

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Investopedia
Lowe's Earnings Top Estimates Despite Pullback On Big-Ticket Spending
~1.6 mins read

Lowe's (LOW) reported first-quarter earnings and revenue that beat analysts' estimates, despite declining from the year-ago period amid a pullback in home-improvement spending. Shares rose in early trading Tuesday following the release before turning lower later in the session.

Lowe's reported first-quarter sales of $21.36 billion, about 4.4% below last year's $22.35 billion, but more than the $21.12 billion analysts projected, according to estimates compiled by Visible Alpha.

Profits fell more than 20% compared to the first quarter of 2023, with Lowe's posting $1.76 billion in net income, compared to $2.26 billion in the same period last year, but still better than the $1.68 billion analysts expected. Earnings per share at $3.06 fell from $3.77 last year, but came in above the $2.93 analysts projected.

Sales have fallen in recent quarters for Lowe's and rival Home Depot (HD) amid a slowdown in spending on do-it-yourself (DIY) projects and big-ticket items as inflation weighs on many consumers.

The company said growth in its digital sales and market share among professional contractors, an area in which Home Depot is also looking to expand, helped partially offset the continued decline in DIY big-ticket spending.

In Tuesday's earnings report, Lowe's affirmed its outlook for the full fiscal year, projecting comparable store sales to decline by 2% to 3% for the year. The company said it anticipates revenue to come in from $84 billion to $85 billion, in line with the $84.25 billion analysts projected, and a decrease from the $86.38 billion in revenue that Lowe's generated in fiscal 2023.

Lowe's said it expects diluted earnings per share (EPS) within a range of $12 to $12.30, with analysts expecting around $12.18, down from last year's $13.20.

Lowe's shares gave up early gains and were 2.7% lower at $223.05 as of 2:20 p.m. ET Tuesday following the company's earnings report.

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Instablog9ja
Be Patient, There’s No Magic Wand To Tackl£ Inflation — CBN Gov Cardoso Tells Nigerians
~1.0 mins read

The Governor of Central Bank of Nigeria, Olayemi Cardoso, has urged Nigerians to be patient as the fi¥ht against the current inflation in country will take time.

Addressing journalists at the end of the Monetary Policy Committee, MPC, meeting in Abuja, he said despite pressure from food inflation, the general inflation rate was “moderating”, adding that “the tools the Central Bank is using are working”.

“I have said it several times and I will say again, there is no magic wand. These are things that need to take their time.

I am pleased and confident that we are beginning to get some relief and in another couple of months we will see the more positive outcomes from the Central Bank have been doing.

The committee thus reiterated several challenges confronting the effective moderation of food inflation to include rising costs of transportation of farm produce, infrastructure-related constraints along the line of distribution network, security challenges in some food producing areas, and exchange rate pass-through to domestic prices for imported food items.

The MPC urged that more be done to address the security of farming communities to guarantee improved food production in these areas.

Members further observed the recent volatility in the foreign exchange market, attributing this to seasonal demand, a reflection of the interplay between demand and supply in a freely functioning market system,” he said.

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