Streetbeat News

Labor Issues

SPR

Spirit AeroSystems is planning to lay off up to 450 employees, as reported by KSN TV. This move is likely a response to current market conditions and could impact the company's operations and financial performance in the short term.

Portfolio Pulse from Benzinga Newsdesk

May 16, 2024 | 5:39 pm

SPY

Fed's Barkin suggests that demand needs to decrease for inflation to return to target levels. He notes that the labor market is normalizing, with jobless claims still low by historic standards but potentially increasing.

Portfolio Pulse from Benzinga Newsdesk

May 16, 2024 | 2:10 pm

AMZN

CBRE

TSLA

Amazon, Google Ventures-backed Gravity, OWL Services, and CBRE are actively recruiting former Tesla employees following Tesla's recent layoffs. Tesla laid off approximately 500 employees from its Supercharging team as part of its global restructuring efforts. Despite the layoffs, Tesla plans to invest over $500 million in expanding its Supercharger network this year.

Portfolio Pulse from Anan Ashraf

May 16, 2024 | 10:14 am

WMT

Walmart Inc. (NYSE:WMT) is set to release its first-quarter earnings before the opening bell on Thursday. Analysts expect earnings of 52 cents per share and revenue of $159.50 billion. Walmart is also reportedly laying off hundreds of corporate employees. Recent analyst ratings include Outperform and Buy ratings with price targets ranging from $59 to $69.

Portfolio Pulse from Avi Kapoor

May 16, 2024 | 9:28 am

TSLA

Former Tesla AI Manager Paril Jain has denied claims that CEO Elon Musk is losing the capacity to retain talent, despite his departure amid company layoffs. Jain left to pursue a new vision in robotics and has co-founded The Bot Company. His departure is part of a broader trend of executive exits at Tesla.

Portfolio Pulse from Anan Ashraf

May 16, 2024 | 6:16 am

MSFT

Microsoft Corp (NASDAQ:MSFT) has asked 700-800 China-based employees, mainly engineers, to consider relocating to other countries amid escalating tech tensions between the U.S. and China. This move aligns with the Biden administration's efforts to restrict China's access to advanced AI technology.

Portfolio Pulse from Benzinga Neuro

May 16, 2024 | 4:55 am

TSLA

Elon Musk fired Tesla's Supercharger Chief Rebecca Tinucci and her entire team after she refused to lay off more workers than planned. This has caused disruption in Tesla's Supercharger network, a key driver of its EV sales. Despite the layoffs, Musk announced plans to expand the network at a slower pace with a reduced budget.

Portfolio Pulse from Benzinga Neuro

May 15, 2024 | 2:09 pm

AMZN

VCR

XLY

Amazon's AWS plans to invest €7.8 billion in the AWS European Sovereign Cloud in Germany by 2040, starting with a new AWS Region in Brandenburg by 2025. This investment aims to drive digital transformation, enhance the AWS Partner Network, and support renewable energy projects, contributing €17.2 billion to Germany's GDP and sustaining 2,800 jobs annually. AWS will also create new permanent positions and ensure compliance with EU regulations.

Portfolio Pulse from Shivani Kumaresan

May 15, 2024 | 12:53 pm

WMT

Walmart Inc. (NYSE:WMT) is set to release its Q1 earnings, with analysts expecting an EPS of 52 cents and revenue of $159.52 billion. The company is also laying off hundreds of corporate employees. Walmart offers an annual dividend yield of 1.39%, translating to a quarterly dividend of 20.75 cents per share. To earn $500 monthly from dividends, an investment of approximately $432,728 is required.

Portfolio Pulse from Avi Kapoor

May 15, 2024 | 12:47 pm

UCTT

Ultra Clean Holdings Inc. (NASDAQ:UCTT) has appointed Harjinder Bajwa as Chief Operating Officer, effective June 10, 2024. Bajwa brings 30 years of global operations expertise, having previously served as COO for Reconext and held various roles at Flex, Ltd.

Portfolio Pulse from Benzinga Newsdesk

May 15, 2024 | 12:36 pm