Streetbeat News

Labor Issues

SPY

Fed's Goolsbee warns that maintaining the current level of monetary restrictiveness could negatively impact jobs, highlighting the difficult policy tradeoffs faced this year.

Portfolio Pulse from Benzinga Newsdesk

April 19, 2024 | 2:41 pm

JPM

MS

Andy Lipsky, a prominent dealmaker at JPMorgan, is leaving the firm to join rival Morgan Stanley, according to Reuters. This move could have implications for both banks' deal-making capabilities and market perception.

Portfolio Pulse from Benzinga Newsdesk

April 19, 2024 | 2:14 pm

TSLA

Tesla, Inc. (NASDAQ:TSLA) announced layoffs that eliminated several top managerial positions, leading to at least 35 executives now directly reporting to CEO Elon Musk. This restructuring raises concerns about 'CEO overload' and Musk's ability to manage effectively, given his involvement in multiple companies. The situation is flagged as a key risk for Tesla stakeholders, especially with Tesla's stock at its lowest level in over a year.

Portfolio Pulse from Shanthi Rexaline

April 19, 2024 | 12:12 pm

DB

Deutsche Bank has reportedly made significant job cuts in its Asia private banking sector as part of an overhaul. This move is part of a broader strategy to restructure its operations in the region.

Portfolio Pulse from Charles Gross

April 19, 2024 | 10:47 am

BA

Boeing Co. (NYSE:BA) faces 32 whistleblower complaints over three years, with allegations including employer retaliation, fraud, and safety concerns. The Occupational Safety and Health Administration (OSHA) is investigating, with five cases still pending. Complaints cover aviation safety, workplace safety, fraud, and toxic chemicals control. Boeing emphasizes its commitment to safety and non-retaliation, highlighting its Go4Zero safety initiative's success in reducing workplace injuries.

Portfolio Pulse from Benzinga Neuro

April 19, 2024 | 10:01 am

GOOG

GOOGL

Alphabet Inc. (GOOG, GOOGL) shares are trading higher ahead of its Q1 earnings report, with BofA Securities highlighting potential revenue upside from YouTube, search stability, and seasonal benefits. The firm also noted Alphabet's controlled costs amid new job cuts in real estate and finance. Alphabet is expected to report quarterly earnings of $1.51 per share on revenue of $78.571 billion. The company has shown a 20.23% growth over the past five years, with a beta of 0.98 indicating low volatility.

Portfolio Pulse from Erica Kollmann

April 18, 2024 | 8:31 pm

DMTK

DermTech announced plans to explore strategic alternatives, including potential acquisitions, mergers, or asset sales, alongside restructuring actions leading to a 56% reduction in its workforce, approximately 100 employees. The company will not host a Q1 2024 earnings call due to these developments.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 8:18 pm

JPM

Dealmakers Lipsky and Lee are reportedly leaving JP Morgan, according to sources cited by Reuters. This move could have implications for the bank's dealmaking capabilities and potentially its market position.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 7:58 pm

LGCOF

SSNLF

Samsung Group is implementing a six-day workweek for executives across all units to address business uncertainties, including currency depreciation, rising oil prices, and high borrowing costs, following disappointing results in 2023. This includes executives from Samsung Electronics Co. Ltd (OTC:SSNLF), which reported a significant operating loss in its semiconductor business. The move is part of a broader trend among South Korean conglomerates to navigate industry downturns and geopolitical risks.

Portfolio Pulse from Franca Quarneti

April 18, 2024 | 5:11 pm

TSLA

Tesla Inc (TSLA) shares continue to decline, now down about 37.5% YTD, amid workforce cuts and delayed Cybertruck deliveries. The company faces pressure from analysts with lowered ratings and price targets ahead of its earnings report next week, where it's anticipated to report earnings of 52 cents per share and revenue of $22.49 billion. Analysts express concerns over Tesla's cost-cutting measures, demand trends, and potential for its first negative free cash flow quarter since 2020.

Portfolio Pulse from Adam Eckert

April 18, 2024 | 1:21 pm