Peloton, PG&E, Facebook: Companies to Watch
Here are the stocks the Yahoo Finance team is watching for you today.
At-home fitness bike and treadmill maker Peloton (PTON) settled a legal dispute with Flywheel Sports over alleged technology theft. In a statement Peloton said Flywheel will stop using the leaderboard technology that Peloton invented, and it will also drop its challenge to Peloton’s patents. This legal win is a big move in Peloton’s push to prove to investors that it’s not just a fitness company but also a tech company.
More backlash for PG&E (PCG). A California lawmaker is proposing a bill that would make the company a publicly-owned utility. Democratic State Senator Scott Weiner tweeted the company has “failed on safety and reliability,” following the wildfires that were traced back to some of its equipment. PG&E told Reuters the company is “not for sale.”
Facebook (FB) is increasing parental control features in its Messenger kids’ app. The new features will include access for parents to see their children's chat history, view and remove videos and photos and allow them to keep track of accounts which are blocked or unblocked. Facebook has been under scrutiny by multiple governments over child safety protections on its suite of apps, especially since announcing its plan to extend end-to-end encryption across its messaging services.
