Record performances for the Nasdaq Composite (NASDAQINDEX: ^IXIC) have become commonplace, and Friday brought another push into uncharted territory for the stock market benchmark. As of 12:30 p.m. EST, the Nasdaq was up about half a percent, adding to the all-time high that the index set at the close on Thursday.
Helping to lift the Nasdaq was Magnite (NASDAQ: MGNI), which announced a strategic move to bolster its grip on the programmatic advertising marketing. However, Peloton Interactive (NASDAQ: PTON) failed to impress shareholders in its much-watched earnings report, sending shares of the interactive fitness equipment maker lower despite the growth stock having seen big gains recently.
Shares of Peloton Interactive fell almost 8% early Friday afternoon. The maker of stationary bikes and treadmills has had huge demand, but it hasn’t been able to execute well enough to take full advantage of it.