Streetbeat News

Labor Issues

NKE

Nike, Inc. (NKE) is set to release its Q3 earnings on March 21, 2024, with analysts forecasting a decrease in earnings per share from 79 cents to 74 cents year-over-year, and a projected quarterly revenue of $12.29 billion. The company announced plans to cut about 2% of its workforce to save costs and invest in key categories. Shares rose 0.3% to $100.27 recently. Analysts have revised their ratings and price targets ahead of the earnings call, with most maintaining a positive outlook but adjusting price targets downward.

Portfolio Pulse from Avi Kapoor

March 21, 2024 | 5:57 pm

LVMHF

Toni Belloni is stepping down as Group Managing Director and Chairman of LVMH Executive Committee. He will take on strategic missions for Bernard Arnault and become President of LVMH Italy.

Portfolio Pulse from Benzinga Newsdesk

March 21, 2024 | 5:05 pm

MSFT

Microsoft has agreed to pay $650 million to Inflection, a move that includes hiring Inflection's staff. This strategic decision could indicate Microsoft's intention to bolster its workforce and possibly integrate Inflection's technology or expertise into its operations.

Portfolio Pulse from Benzinga Newsdesk

March 21, 2024 | 4:43 pm

ATLX

SGML

Atlas Lithium Corporation (NASDAQ:ATLX) has announced the appointment of Brian Talbot as Chief Operating Officer and Board member, effective April 1, 2024. Talbot, a lithium industry veteran with a strong background in development and operations, joins Atlas Lithium as the company prepares for its first production and revenue in Q4 2024. Talbot's previous roles include COO at Sigma Lithium Corporation (NASDAQ:SGML) and positions at Galaxy Resources, now part of Arcadium Lithium PLC.

Portfolio Pulse from Anusuya Lahiri

March 21, 2024 | 1:04 pm

ALTO

Alto Ingredients, Inc. (NASDAQ:ALTO) announced the resignation of Michael D. Kandris as Interim COO effective April 1, 2024, and his transition to a special advisor until his retirement on June 20, 2024. Todd E. Benton, with over 25 years of experience at Alto's Pekin facilities, has been appointed as the new COO effective April 1, 2024. Benton's leadership is expected to focus on operational efficiency, safety, reliability, sustainability, and the completion of the carbon capture and storage (CCS) project at the Pekin campus.

Portfolio Pulse from Benzinga Newsdesk

March 21, 2024 | 12:37 pm

SPY

The latest report shows that USA continuing jobless claims have slightly increased to 1,807K from 1,803K in the previous period.

Portfolio Pulse from Benzinga Newsdesk

March 21, 2024 | 12:30 pm

SPY

The latest report on USA Initial Jobless Claims came in at 210,000, slightly below the estimated 212,000 and the previous figure of 212,000. This indicates a marginal improvement in the labor market.

Portfolio Pulse from Benzinga Newsdesk

March 21, 2024 | 12:30 pm

SSBK

Southern States Bancshares, Inc. (NASDAQ:SSBK) announced the retirement of COO Jack Swift, effective May 31, 2024. Swift's responsibilities will be absorbed by CFO Lynn Joyce and Chief Risk Officer Greg Smith. Swift, who has been with Southern States for 18 years, played a key role in growing the company into a leading community banking institution in Alabama and Georgia. His retirement marks the end of a 40-year banking career.

Portfolio Pulse from Benzinga Newsdesk

March 21, 2024 | 12:01 pm

SHAK

Shake Shack Inc. announced Rob Lynch, current President and CEO of Papa John's International, as its new CEO effective May 20, 2024. Lynch's leadership at Papa John's led to record sales. He will succeed Randy Garutti, who will transition to an advisor role after May 20, 2024, to ensure a smooth transition.

Portfolio Pulse from Benzinga Newsdesk

March 21, 2024 | 11:52 am

PZZA

Papa John's International announced CEO Rob Lynch's departure to take another CEO role. CFO Ravi Thanawala steps in as Interim CEO while the board searches for a permanent replacement. Lynch will advise until April 30, 2024, to ensure a smooth transition.

Portfolio Pulse from Benzinga Newsdesk

March 21, 2024 | 11:44 am