Streetbeat News

Labor Issues

RJF

Raymond James Financial (NYSE:RJF) announced leadership changes including CFO Paul Shoukry's appointment as president, set to become CEO in fiscal 2025. Current CEO Paul Reilly will transition to executive chair. The company also announced the retirement of COO Jeff Dowdle and subsequent leadership appointments effective October 1, 2024. These changes are part of Raymond James' succession planning, aiming to maintain its growth, financial stability, and client-focused approach.

Portfolio Pulse from Happy Mohamed

March 19, 2024 | 8:37 pm

AMCR

Amcor announced that CEO Ron Delia will retire and step down from the board for health reasons, effective April 15, 2024. Peter Konieczny, the current Chief Commercial Officer, has been appointed as Interim CEO. The board is searching for a permanent successor, considering both internal and external candidates.

Portfolio Pulse from Benzinga Newsdesk

March 19, 2024 | 8:17 pm

BHE

Benchmark Electronics announced that Roop K. Lakkaraju, the Executive Vice President and CFO, plans to resign to pursue another opportunity. He will stay in his role until April 1, 2024.

Portfolio Pulse from Benzinga Newsdesk

March 19, 2024 | 8:08 pm

MSFT

Microsoft announces organizational changes as part of its transition. Mikhail Parakhin and his team, responsible for Copilot, Bing, and Edge, will now report to Mustafa. Misha Bilenko and the GenAI team are also included in this transition. Kevin Scott remains CTO & EVP of AI, overseeing the company's overall AI strategy.

Portfolio Pulse from Benzinga Newsdesk

March 19, 2024 | 4:11 pm

AMZN

Workers at an Amazon warehouse in Coventry, UK, have initiated a strike over pay disputes and union recognition, reflecting wider industrial unrest in Britain. This action could lead to Amazon recognizing a union for the first time in Europe if the Central Arbitration Committee finds a majority of workers are union members. Amazon shares are trading higher by 0.53% at $175.40.

Portfolio Pulse from Shivani Kumaresan

March 19, 2024 | 2:22 pm

FCX

Copper prices have reached an 11-month high of $9,164.50 a ton, driven by U.S. equity market rallies and global supply concerns, including smelter cuts in China and mine closures in Peru and Panama. Freeport-McMoRan's CEO, Richard Adkerson, highlighted the need for improved mine permitting processes in the U.S. and discussed the company's focus on community support and technological advancements in copper smelting and leaching.

Portfolio Pulse from Stjepan Kalinic

March 19, 2024 | 1:40 pm

PBI

Pitney Bowes Inc. (NYSE:PBI) announced a CFO transition with John Witek appointed as interim CFO effective March 19, 2024, following Ana Maria Chadwick's departure. Witek, previously Head of Global Business Services and CFO of SendTech, is recognized for his expertise in optimizing cost and realizing efficiencies. The company has initiated a search for a permanent CFO replacement with Crist Kolder Associates. Witek's appointment is expected to support Pitney Bowes' strategic initiatives and provide stability.

Portfolio Pulse from Benzinga Newsdesk

March 19, 2024 | 1:03 pm

BAH

EA

MAC

SKYW

Insiders at Electronic Arts, SkyWest, Macerich, and Booz Allen Hamilton have recently sold shares. Electronic Arts plans to lay off 5% of its workforce, SkyWest posted upbeat quarterly earnings, Macerich reported in-line quarterly earnings, and Booz Allen Hamilton reported better-than-expected financial results, increased its dividend, and raised FY24 guidance.

Portfolio Pulse from Avi Kapoor

March 19, 2024 | 12:23 pm

ARCH

Arch Resources, Inc. (NYSE:ARCH) announced the appointment of George J. Schuller Jr. as Senior Vice President and Chief Operating Officer. Schuller, with over 30 years of experience in the global mining industry, including roles at Compass Minerals and Peabody Energy, is expected to enhance Arch's operational capabilities and sustainability efforts. His leadership is seen as pivotal for leveraging Arch's high-quality coking coal assets.

Portfolio Pulse from Benzinga Newsdesk

March 19, 2024 | 12:08 pm

CWI

INTC

SOXX

TSM

Taiwan Semiconductor Manufacturing Co (TSM) and Intel Corp (INTC) face construction delays in Arizona due to high costs and labor shortages, impacting their efforts to strengthen the U.S. semiconductor supply chain. Suppliers like LCY Chemical and Solvay have paused or downscaled their plans, citing increased expenses and operational challenges. This situation reflects broader issues in expanding the U.S. chip supply, with costs significantly higher than in Asia. TSMC and Samsung are also adjusting their global expansion strategies due to these challenges. TSMC's stock has risen 52% due to the AI boom, with exposure available through ETFs like SOXX and CWI.

Portfolio Pulse from Anusuya Lahiri

March 19, 2024 | 11:32 am