Streetbeat News

Labor Issues

EWA

Australia reported a significant increase in full employment change for February, with 78.2K jobs added compared to the revised prior figure of 19.9K. This indicates a strong job market in Australia.

Portfolio Pulse from Benzinga Newsdesk

March 21, 2024 | 4:57 am

HLTH

Cue Health announces Clint Sever as new CEO, replacing Ayub Khattak. The company plans a comprehensive review of its business and operations to refine its strategy and cost structure, aiming to strengthen its future position.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 9:23 pm

SPY

Fed Chair Powell stated that there are no visible cracks in the labor market, highlighting its strength and noting that extreme imbalances have mostly been resolved.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 7:01 pm

SPY

Fed Chair Powell commented on the labor market, suggesting that a balance between supply and demand could lead to a larger economy without exacerbating inflation pressures. This statement is significant for investors as it hints at the potential for economic growth without the downside of increased inflation, which is a key factor in the Federal Reserve's monetary policy decisions.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 6:52 pm

CMPS

CYBN

MNMD

PSIL

Cybin Inc. received FDA Breakthrough Therapy designation for its psilocybin therapy for Major Depressive Disorder, alongside positive clinical data and a $150M private placement. MindMed also received the designation for its LSD-derived treatment for Generalized Anxiety Disorder, with expected proceeds of $175M from share offerings. Gilgamesh Pharmaceuticals was awarded a $14M grant for ibogaine analog research. Psyence Biomedical, Red Light Holland, and Clearmind Medicine were mentioned for their developments in psychedelics. The article also covered stock performances of several psychedelics companies.

Portfolio Pulse from Lara Goldstein

March 20, 2024 | 6:49 pm

SPY

Fed Chair Powell acknowledges the labor market's tightness but notes an improving balance between supply and demand.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 6:35 pm

SPY

The Federal Reserve has reported that economic activity is expanding at a solid pace, with job gains continuing to be strong and the unemployment rate remaining low. This indicates a robust economic environment.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 6:03 pm

AREN

Sports Illustrated, a 70-year-old iconic sports magazine, has been saved from closure by Minute Media, which has become its new publisher. Authentic Brands Group, the owner of Sports Illustrated's intellectual property rights, announced the deal, which includes Minute Media's plan to retain and rehire some staff. The magazine has faced challenges, including layoffs and managerial changes, but this deal marks a pivotal moment for its future. Authentic Brands Group will also acquire an equity stake in Minute Media as part of the agreement. Arena Group Holdings Inc (NASDAQ:AREN) previously missed a $2.8-million payment to Authentic Brands Group, leading to job cuts and the termination of their licensing agreement.

Portfolio Pulse from Vandana Singh

March 20, 2024 | 2:01 pm

LUV

Southwest Airlines has reached a tentative agreement with the Transport Workers Union Local 556 for a new labor contract. This development could signal positive progress in labor relations and potentially impact operational efficiency and employee satisfaction.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 12:01 pm

DIS

Disney (NYSE:DIS) is emphasizing its streaming services by offering competitive salaries for tech roles, with positions paying up to $385,057. This move reflects Disney's strategic pivot towards digital platforms, despite recent layoffs. The company is actively hiring for direct-to-consumer positions, highlighting its commitment to enhancing its streaming capabilities. This focus on streaming comes as Disney faces investor scrutiny and aims to expand its subscriber base through various initiatives.

Portfolio Pulse from Benzinga Neuro

March 20, 2024 | 11:06 am