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Labor Issues

SPY

The JOLTs Job Openings report for March showed a total of 8.488 million job openings, which is below the estimated 8.680 million and the previous month's 8.813 million. This indicates a slight decrease in job openings.

Portfolio Pulse from Benzinga Newsdesk

May 01, 2024 | 2:00 pm

UUP

The ADP National Employment Report revealed that the U.S. private sector added 192,000 jobs in April, exceeding forecasts and indicating a robust employment landscape. The report, serving as a precursor to the Bureau of Labor Statistics' jobs report, highlighted broad-based hiring across various sectors, with notable job gains in leisure and hospitality, construction, and other industries. However, the information sector experienced job losses. Wage growth remained steady for job-stayers, while job changers saw a slight decrease in pay increases. The U.S. Dollar Index, as tracked by the Invesco DB USD Index Bullish Fund ETF (UUP), remained stable, while U.S. equity futures fell in premarket trading.

Portfolio Pulse from Piero Cingari

May 01, 2024 | 12:23 pm

BCS

Barclays has started implementing job cuts throughout its investment banking division, according to Bloomberg. This move is part of a broader strategy to reduce costs and improve efficiency within the organization.

Portfolio Pulse from Benzinga Newsdesk

May 01, 2024 | 11:58 am

EVTL

Vertical Aerospace Ltd. has appointed Stuart Simpson, previously the CFO and a seasoned FTSE100 executive, as its new CEO with immediate effect. Simpson's appointment comes as the company prepares for a critical phase, focusing on certifying its VX4 aircraft and moving towards commercialization. His extensive experience across technology, automotive, and logistics sectors is expected to play a key role in leading the company's strategy, market launch of the VX4 aircraft, and future fundraising activities.

Portfolio Pulse from Benzinga Newsdesk

May 01, 2024 | 9:06 am

TSLA

Tesla Inc (NASDAQ:TSLA) CEO Elon Musk announced plans to continue expanding the Supercharger network, albeit at a slower pace for new locations, focusing instead on 100% uptime and expanding existing sites. This follows the departure of Rebecca Tinucci, the head of Tesla's charging infrastructure, and the layoff of about 500 employees from the Supercharger team as part of a broader effort to cut costs and focus on vehicle autonomy.

Portfolio Pulse from Anan Ashraf

May 01, 2024 | 7:39 am

GOOGL

Former Google employees have filed a complaint with the U.S. National Labor Relations Board, alleging unlawful termination for protesting Google's cloud contract with the Israeli government, known as Project Nimbus. They claim their rights under U.S. labor law were violated and are seeking reinstatement, back pay, and a statement from Google affirming workers' rights to organize. Google maintains that the Nimbus contract does not involve sensitive or military work and defends its terminations as a response to unacceptable behavior that threatened workplace safety.

Portfolio Pulse from Benzinga Neuro

May 01, 2024 | 5:48 am

AMZN

During a conference call, Amazon's CFO highlighted that the company's headcount growth is primarily in logistics and delivery sectors.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 8:48 pm

STLA

A potential work stoppage at a Stellantis plant could impact the production of Ram and Jeep vehicles, according to Bloomberg. This situation may affect the company's ability to meet demand for these popular models, potentially influencing its stock performance in the short term.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 5:34 pm

STLA

The United Auto Workers (UAW) announced that approximately 1,100 members of UAW Local 869 at Stellantis' Warren Stamping Plant in Warren, Michigan, will conduct a strike authorization vote on May 6th, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 5:21 pm

STLA

UAW members at Stellantis' Warren Stamping Plant are set to vote on strike authorization due to health and safety grievances, according to Reuters. This move underscores ongoing labor disputes and could signal potential disruptions in Stellantis' operations if the vote leads to a strike.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 5:21 pm