Streetbeat News

Labor Issues

BMRN

BioMarin Pharmaceutical announced plans to cut approximately 170 employees according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

May 14, 2024 | 9:20 pm

NOC

Northrop Grumman announced executive changes effective July 1, with Roshan Roeder succeeding Mark Caylor as President of Mission Systems, and Ben Davies being named President of Defense Systems. Additionally, the Strategic Deterrent Systems Division will be realigned into Defense Systems.

Portfolio Pulse from Benzinga Newsdesk

May 14, 2024 | 8:59 pm

NOC

Northrop Grumman announced the retirement of CFO Dave Keffer on February 21, 2025, and Mission Systems President Mark Caylor on July 26, 2024. The company also reaffirmed its FY 24 guidance.

Portfolio Pulse from Benzinga Newsdesk

May 14, 2024 | 8:58 pm

OCG

Oriental Culture Holding announced the resignation of CFO Xi Li on May 9. This change in the company's financial leadership could impact investor confidence and the company's strategic direction in the short term.

Portfolio Pulse from Benzinga Newsdesk

May 14, 2024 | 8:52 pm

DALN

DallasNews announced the opening of a new facility and operations expected to require about 60% fewer staff, equivalent to a reduction of approximately 85 employees. Additionally, the company has suspended the payment of dividends until further notice.

Portfolio Pulse from Benzinga Newsdesk

May 14, 2024 | 8:51 pm

HMC

Honda Motor shares are trading higher after reports of workforce reductions in China, indicating a strategic move to cut costs and potentially improve profitability.

Portfolio Pulse from Benzinga Newsdesk

May 14, 2024 | 8:39 pm

HOMB

Home BancShares, Inc. (HOMB) announces management changes, with Kevin Hester named as President of both Home BancShares and Centennial Bank. Stephen Tipton is appointed CEO of Centennial Bank, while John Allison and Tracy French retain their executive roles. These changes come as the company celebrates 25 years in banking.

Portfolio Pulse from Benzinga Newsdesk

May 14, 2024 | 8:39 pm

HMC

Honda is planning to reduce its workforce in China by offering voluntary layoffs to 1,700 employees, according to Nikkei. This move is part of Honda's strategy to streamline operations and improve efficiency in the competitive Chinese market.

Portfolio Pulse from Benzinga Newsdesk

May 14, 2024 | 8:03 pm

AAL

DAL

LUV

SAVE

UAL

ULCC

Over 160 US lawmakers have called on the Federal Mediation Board to assist 80,000 flight attendants in securing new contracts, according to a letter cited by Reuters. This move underscores the significant labor issues within the airline industry and could impact negotiations and operations for major airlines.

Portfolio Pulse from Charles Gross

May 14, 2024 | 6:14 pm

AMC

GME

IWM

PLUG

SPWR

UUP

Wall Street trades flat amid mixed producer inflation data and anticipation for consumer inflation report. Fed Chair Powell sees prolonged current monetary policy, while President Biden imposes significant tariffs on Chinese imports. The U.S. dollar index and Treasury yields fell, while small caps and meme stocks like GameStop and AMC surged. Commodities saw mixed movements, and Bitcoin dropped. Key ETFs and stocks like Insulet, Plug Power, SunPower, and Delcath Systems reacted to various news, including earnings and significant financial developments.

Portfolio Pulse from Piero Cingari

May 14, 2024 | 5:59 pm