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Tariffs piled extra pressure on iRobot. (0:15) Alphabet set for a SpaceX windfall. (1:10) ‘Zootopia 2’ still top of the box office. (2:03)
The following is an abridged transcript:
Roomba maker iRobot (IRBT) has filed for Chapter 11 bankruptcy protection in Delaware as part of a restructuring that hands full control of the company to its primary manufacturer, Picea Robotics.
The filing follows mounting pressure from cheaper Chinese competitors like Ecovacs Robotics, along with higher U.S. tariffs. A 46% levy on imports from Vietnam alone added about $23M in costs this year, complicating planning and squeezing margins.
IRobot generated roughly $682M in revenue in 2024, but profitability continued to deteriorate, and the company warned about going-concern risks as early as March.
The company expects to complete its prepackaged Chapter 11 process by February 2026.
CEO Gary Cohen said the transaction will strengthen iRobot’s financial position and provide continuity for customers, adding that combining iRobot’s design and R&D with Picea’s manufacturing expertise positions the company for the next phase of smart-home robotics.
Alphabet (GOOG) (GOOGL) looks set for another valuation uplift tied to one of its largest private investments, after SpaceX (SPACE) completed a new tender offer that effectively values the company at about $800B.
According to Bloomberg, the sale of insider shares was priced at $421 apiece, a meaningful step up from prior secondary transactions. That higher mark would increase the carrying value of Alphabet’s minority stake in Elon Musk’s space and satellite company.
Alphabet has been a SpaceX investor for roughly a decade, joining Fidelity in a $1B financing round in 2015 that gave the pair a combined 10% stake at the time. Google declined to comment on the latest valuation, citing its policy of not discussing individual private investments.
The company has seen similar boosts before. In April, Alphabet reported an $8B unrealized gain tied to a private holding — widely assumed to be SpaceX — after a prior tender offer implied a valuation of around $350B, lifting first-quarter profit.
The domestic box office delivered an estimated $75.1M over the December 12–14 weekend, according to Comscore, pushing year-to-date revenue to $8.14B, up about 0.5% from the same point last year.
Disney’s (DIS) “Zootopia 2” stayed on top for a third straight weekend, grossing $26.3M from 3,835 theaters. That brings its domestic total to $259M, while global box office has climbed to about $1.14B — crossing the $1B mark in just 17 days.
Holding second place, Universal’s (CMCSA) “Five Nights at Freddy’s 2” earned $19.5M in its second weekend. The horror sequel now stands at $95.5M domestically and $173.2M worldwide, extending Blumhouse Productions’ strong run.
Rounding out the top three, Universal’s (CMCSA) “Wicked: For Good” added $8.6M in its fourth weekend. The film has now generated $312.1M domestically and $467.1M globally, cementing its status as one of the year’s standout theatrical performers.
Now Here’s What’s Trending on Seeking Alpha:
Hedge funds are piling into commodities.
The hot trade is hedging against the AI bubble popping.
Developers have canceled nearly 2,000 power projects this year.
In premarket trading, stock index futures (SPX) (INDU) (US100:IND) are higher, rebounding from selling on Friday as traders gear up for a busy economic week.
Tuesday is the key day, with ADP jobs, Housing Starts, Building Permits, Core Retail Sales, and nonfarm payrolls.
Wednesday features MBA mortgage data, Business Inventories, and Atlanta Fed GDP.
Thursday delivers Jobless Claims, Core CPI, and the Philly Fed survey.
Friday wraps up with Core PCE, Personal Income and Spending, and Michigan sentiment.
Economic calendar today
8:30 am – Empire State Manufacturing Index (Dec.)
10:00 am – Housing Market Index (Dec.)