Streetbeat News

Labor Issues

AMZN

VCR

XLY

Amazon Labor Union (ALU) has partnered with the International Brotherhood of Teamsters to enhance their bargaining power in negotiations with Amazon.com Inc. (NASDAQ:AMZN). This alliance aims to secure better employment conditions for Amazon workers. The ALU previously had a significant win in 2022 but faced setbacks in subsequent elections. Amazon reported strong Q1 earnings, and its stock has gained over 46% in the last 12 months. Investors can gain exposure to Amazon via Consumer Discretionary Select Sector SPDR Fund (NYSE:XLY) and Vanguard Consumer Discretionary ETF (NYSE:VCR).

Portfolio Pulse from Shivani Kumaresan

June 18, 2024 | 1:04 pm

TSLA

Tesla, Inc. (NASDAQ:TSLA) is considering stock-based compensation for high-performing employees after skipping stock awards in 2023. The company faces challenges including earnings and revenue misses, price cuts, and layoffs. CEO Elon Musk's $56 billion pay plan was reapproved by shareholders.

Portfolio Pulse from Shanthi Rexaline

June 18, 2024 | 12:51 pm

DMTK

DermTech has filed for Chapter 11 bankruptcy protection, plans to continue operations, and is seeking to sell its assets. The company is also implementing a 20% workforce reduction to preserve cash.

Portfolio Pulse from Benzinga Newsdesk

June 18, 2024 | 12:07 pm

CHGG

Chegg announced a restructuring plan to reduce its global headcount by 23%, aiming to become a leaner and more efficient organization. The company expects to save $40M-$50M in non-GAAP expenses by 2025. The restructuring includes the departure of 441 employees and the closure of two offices outside the U.S., with a $10M-$14M charge expected.

Portfolio Pulse from Benzinga Newsdesk

June 17, 2024 | 8:36 pm

REXR

Rexford Industrial Realty has announced the promotion of CFO Laura Clark to COO and is in the process of recruiting a new CFO.

Portfolio Pulse from Benzinga Newsdesk

June 17, 2024 | 8:09 pm

HSII

Heidrick & Struggles CFO Mark Harris has announced his resignation. The company has started the search for a new CFO.

Portfolio Pulse from Benzinga Newsdesk

June 17, 2024 | 8:02 pm

AAL

American Airlines Group Inc. (NASDAQ: AAL) is facing significant bearish signals, both fundamentally and technically. The stock has plummeted 32.22% over the past year and 18.16% year-to-date. The departure of Chief Commercial Officer Vasu Raja, a downward revision of second-quarter earnings, and a bearish Death Cross signal indicate potential for more downside ahead.

Portfolio Pulse from Surbhi Jain

June 17, 2024 | 6:24 pm

CURLF

VRNOF

WMT

Verano Holdings Corp. and Curaleaf Holdings Inc. are investing in the local New Jersey cannabis market, repurposing vacant spaces like an abandoned Walmart to boost the local economy. Verano has opened a cultivation facility and dispensary, while Curaleaf operates six locations in the state. NewLake Capital is also partnering with local tenants. The cannabis market in New Jersey is growing, with over $800 million in sales and significant job growth.

Portfolio Pulse from Anthony Noto

June 17, 2024 | 5:02 pm

GM

UAW Local 1112 members have overwhelmingly voted to ratify a historic contract at Ultium Cells, with 98% approval. Under the new contract, by October 2027, Ultium production workers will earn $35 an hour.

Portfolio Pulse from Benzinga Newsdesk

June 17, 2024 | 2:22 pm

TGB

Taseko Mines has reached a tentative labor agreement at its Gibraltar Mine, pending union ratification.

Portfolio Pulse from Benzinga Newsdesk

June 17, 2024 | 7:09 am