Streetbeat News

Labor Issues

TSLA

Elon Musk's direct involvement in hiring and firing at Tesla and other companies has drawn criticism and legal scrutiny. Experts suggest that better management practices could improve financial performance without hurting profits. Despite mass layoffs, Tesla has seen an increase in job applications and is focusing on hiring for Autopilot and robotics.

Portfolio Pulse from Benzinga Neuro

May 28, 2024 | 1:55 pm

STLA

Stellantis NV (NYSE:STLA) plans to produce two additional hybrid vehicles in Italy, aiming to increase local production amid political tensions. The move is seen as an effort to appease local politicians and unions while considering shifting some manufacturing to cheaper countries.

Portfolio Pulse from Benzinga Neuro

May 27, 2024 | 1:41 pm

MBGAF

MBGYY

The United Auto Workers (UAW) union is pushing for a new election at the Mercedes-Benz plant in Alabama, alleging unfair labor practices influenced the initial vote. Mercedes-Benz denies these allegations, maintaining adherence to NLRB guidelines.

Portfolio Pulse from Benzinga Neuro

May 27, 2024 | 6:06 am

XPEV

XPeng Inc. (NYSE:XPEV) is facing challenges in its shift to a dealer-dependent sales model, leading to staffing adjustments and leadership changes. Gu Yuanqin has taken over as head of sales, and Yu Tao is expected to join as vice president of marketing. XPeng aims to sell 280,000 units this year but has yet to surpass 10,000 units per month.

Portfolio Pulse from Nabaparna Bhattacharya

May 25, 2024 | 7:07 pm

F

KARS

LCID

NKLA

TSLA

The EV sector saw significant developments this week, including Tesla's production cut in China, Lucid's workforce reduction, Nikola's new truck orders, and Ford's potential easing of EV sales norms for dealers. The KraneShares Electric Vehicles and Future Mobility Index ETF fell 4.88% for the week.

Portfolio Pulse from Shanthi Rexaline

May 25, 2024 | 1:10 pm

BHP

CLF

HL

X

Cleveland-Cliffs announces new GHG reduction targets, U.S. Steel launches a new facility, and BHP aims to persuade Anglo American before the takeover deadline. Hecla Mining appoints a new interim president and CEO.

Portfolio Pulse from austin@walkonholdings.com

May 24, 2024 | 8:42 pm

ARDX

Ardelyx shares are trading lower following the resignation of its Chief Commercial Officer.

Portfolio Pulse from Benzinga Newsdesk

May 24, 2024 | 7:28 pm

AAPL

AES

MRVL

SNX

Hedge funds adjusted their portfolios in Q1 2024, focusing on AI-related infrastructure stocks and cyclical sectors. Positions in several 'Magnificent Seven' tech stocks were trimmed, except for Apple. Marvell Technology, TD Synnex, and AES Corporation saw increased hedge fund interest.

Portfolio Pulse from Piero Cingari

May 24, 2024 | 4:20 pm

AMZN

Amazon has announced the grand opening of a new 2.8 million square foot robotics fulfillment center, YYC4, in Calgary, Alberta. The facility employs over 1,500 people.

Portfolio Pulse from Benzinga Newsdesk

May 24, 2024 | 4:01 pm

INTC

MU

TSM

President Biden's push for unionization faces a new challenge in the semiconductor industry. The Communications Workers of America (CWA) is preparing for labor negotiations with Micron Technology Inc. (NASDAQ:MU), which is investing $50 billion in New York factories. The United Auto Workers (UAW) is also targeting semiconductor companies. Intel Corp. (NASDAQ:INTC) has been hesitant to engage in union talks. The Biden administration is leveraging the Chips Act to encourage union commitments.

Portfolio Pulse from Shivani Kumaresan

May 24, 2024 | 3:32 pm