Streetbeat News

Labor Issues

SYY

Warehouse workers at Sysco Louisville have successfully ratified their first contract, marking a significant milestone for labor relations at the company.

Portfolio Pulse from Benzinga Newsdesk

April 08, 2024 | 6:58 pm

SPY

Fed's Goolsbee comments on the current state of the economy and the Federal Reserve's role. He notes the economy was on a 'Golden Path' in 2023, remains strong as confirmed by jobs data, and discusses the duration of restrictive monetary policy.

Portfolio Pulse from Benzinga Newsdesk

April 08, 2024 | 5:41 pm

GE

The market experienced a downturn, with the S&P and Dow Jones falling significantly, attributed to comments by Minneapolis FED President Neel Kashkari on interest rates. However, a positive jobs report led to a late-week rally. General Electric Co (GE), now GE Aerospace, outperformed the market, growing 12.50% after shedding debt from its parent company, making it more attractive to investors. The jobs report's impact on future market trends and interest rates remains uncertain, advising caution in the short term.

Portfolio Pulse from The Traders Tribune

April 08, 2024 | 3:16 pm

SPY

The New York Federal Reserve's March report indicates that the year-ahead expected earnings growth remains steady at 2.8%. Labor market expectations were mixed, with the highest fear of missing debt payments in four years. However, households viewed their personal finances more positively in March.

Portfolio Pulse from Benzinga Newsdesk

April 08, 2024 | 3:02 pm

EADSY

SAVE

Spirit Airlines, Inc. (NYSE:SAVE) has deferred all Airbus SE (OTC:EADSY) aircraft deliveries scheduled for Q2 2025 to end of 2026 to 2030-2031, improving liquidity by $340 million over two years. Despite this, Spirit plans to furlough 260 pilots from September 1, 2024, due to grounded aircraft from Pratt & Whitney GTF engine issues and the deferrals. A compensation agreement with Pratt & Whitney is expected to further improve liquidity by $150-$200 million. Spirit's shares rose 3.61% to $4.59.

Portfolio Pulse from Shivani Kumaresan

April 08, 2024 | 2:58 pm

SAVE

The Pilots' Union has expressed deep concern over Spirit Airlines' decision to furlough pilots, describing it as deeply troubling for the entire pilot group. This move by Spirit Airlines could indicate operational or financial challenges within the company, potentially affecting its stock performance in the short term.

Portfolio Pulse from Benzinga Newsdesk

April 08, 2024 | 1:42 pm

AAPL

BTCUSD

ETHUSD

TSLA

The article covers a range of topics from cryptocurrency trends, including Bitcoin's surge as its halving approaches, to US and world politics, the US economy, tech innovations, electric vehicles, and more. Key highlights include Bitcoin, Ethereum, and Dogecoin's price movements, Ripple CEO's market prediction, and various political and economic developments in the US and globally. It also touches on tech updates like Apple's new initiatives and Tesla's focus on autonomy.

Portfolio Pulse from Akanksha Bakshi

April 08, 2024 | 12:49 pm

SAVE

Spirit Airlines plans to furlough around 260 pilots by September 1, 2024, due to grounded aircraft from Pratt & Whitney GTF engine issues and aircraft deferrals for 2025 and 2026. A compensation agreement with Pratt & Whitney is expected to boost Spirit's liquidity by $150-$200 million.

Portfolio Pulse from Benzinga Newsdesk

April 08, 2024 | 10:33 am

ZURA

Zura Bio announced Robert Lisicki as its new CEO and Director, succeeding founding CEO Dr. Someit Sidhu, who remains a Board Director. Lisicki brings nearly 30 years of R&D, commercial, and global executive experience, particularly in I&I therapies.

Portfolio Pulse from Benzinga Newsdesk

April 08, 2024 | 10:11 am

SPY

Cathie Wood of Ark Investment Management expressed concerns over recent U.S. jobs data, highlighting low-quality job gains and a disparity in employment growth between foreign-born and native-born Americans. Economist Marko Bjegovic noted significant revisions in job data and a shift towards part-time employment, while E.J. Antoni pointed out the stagnation in native-born employment. Despite these issues, the SPDR S&P 500 ETF Trust (SPY) saw an increase, reflecting continued market optimism.

Portfolio Pulse from Shanthi Rexaline

April 08, 2024 | 8:23 am