Streetbeat News

Labor Issues

HITI

High Tide announced the departure of CFO Sergio Patino effective May 1, 2024, with a new candidate already selected for the position. Details about the new CFO will be released later, and Patino will remain engaged with the company for a transition period.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 10:05 am

LYFT

UBER

Uber Technologies Inc. (NYSE:UBER) and Lyft Inc. (NASDAQ:LYFT) have postponed their exit from Minneapolis following the city council's decision to delay the enforcement of a new driver pay ordinance until July 1. The ordinance mandates a minimum hourly wage of $15.57 for rideshare drivers. This decision comes after the companies threatened to leave the city due to the potential negative impact of the wage mandate on their operations and drivers.

Portfolio Pulse from Benzinga Neuro

April 12, 2024 | 6:20 am

TTWO

YouTuber Andrew Levitt recreated Take-Two Interactive Software Inc's (NASDAQ:TTWO) GTA 6 trailer in real life, collaborating with Primecutpro and using Tom Petty's soundtrack. The recreation has garnered attention amidst the anticipation for GTA 6, slated for a 2025 release but possibly delayed to 2026. Tensions arise at Rockstar Games over a return-to-office policy to finalize the game and prevent leaks, highlighting the project's significance and the dedication to perfection by Take-Two and its teams.

Portfolio Pulse from Franca Quarneti

April 11, 2024 | 7:28 pm

FXI

SPY

U.S. airlines and their unions have requested the Biden administration to temporarily halt the approval of new flights to the U.S. by Chinese airlines, according to a letter cited by Reuters.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 4:40 pm

TSLA

Tesla, Inc. (NASDAQ:TSLA) is facing pressure from Norwegian pension fund KLP, a significant investor, over concerns related to collective bargaining amid an ongoing labor dispute in Sweden. The dispute has drawn attention from Nordic institutional investors and has been disruptive to Tesla's operations. KLP, which owns 900,000 Tesla shares, is considering requesting Tesla's AGM to address CEO Elon Musk's stance on collective bargaining. Despite Musk's comments suggesting the issue has been resolved, the strike continues, with potential for escalation.

Portfolio Pulse from Nabaparna Bhattacharya

April 11, 2024 | 4:14 pm

KMX

CarMax CFO announced plans to open multiple off-site reconditioning and auction locations in FY26, citing wage pressures in Q4 and impacts from affordability and steep depreciation periods in recent years. However, there's an improvement in market share as of January, with a need for continued affordability improvements.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 2:04 pm

ALL

AMAT

BHP

On CNBC's 'Halftime Report Final Trades,' experts highlighted their picks including U.S. 2 Year Treasury Note, Applied Materials (AMAT), BHP Group (BHP), and Allstate (ALL). Applied Materials faces uncertainty around its $4 billion R&D facility in Silicon Valley due to funding issues. BHP Group has cut contractor workforce amid considerations to freeze its nickel division. Allstate is set to discuss Q1 2024 earnings in an upcoming conference call. Shares of AMAT and BHP fell, while ALL shares gained.

Portfolio Pulse from Avi Kapoor

April 11, 2024 | 12:48 pm

SPY

USA Initial Jobless Claims for the week came in at 211,000, lower than the estimated 216,000 and the previous week's 222,000, indicating a stronger labor market than expected.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 12:30 pm

ALLT

Allot Ltd. announced CFO Ziv Leitman is leaving to join a startup. The company has started searching for a new CFO, with Leitman to remain until June 30, 2024, for a smooth transition.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 9:09 am

AAPL

AMZN

SBUX

Apple Inc (AAPL) faces a new unionization effort at its Short Hills, New Jersey retail store, with 104 employees petitioning to organize. This follows successful unionization at Apple stores in Oklahoma and Maryland. The Communications Workers of America represent the staff, aiming for better pay, benefits, and working conditions. Apple's response highlights their competitive pay and benefits for employees. The situation raises concerns among shareholders about potential increased costs due to higher wages and benefits if the unionization efforts spread across more stores.

Portfolio Pulse from Chris Katje

April 10, 2024 | 9:41 pm