Streetbeat News

Labor Issues

TSLA

Venture capitalist Paul Graham and billionaire Mark Cuban support the TikTok ban, citing China's Ministry of Foreign Affairs's opposition as evidence for the bill's necessity. TikTok CEO Shou Zi Chew warns of significant economic impacts, including job losses. The bill, passed by the U.S. House and headed to the Senate, could force ByteDance to sell TikTok or face a U.S. ban, affecting 150 million American users. Elon Musk expressed concerns over internet censorship.

Portfolio Pulse from Rounak Jain

March 15, 2024 | 12:19 pm

BA

Boeing Co (NYSE:BA) CEO Dave Calhoun faces scrutiny amid a series of crises, including mid-flight emergencies and business setbacks, leading to a significant drop in the company's stock value. Despite these challenges, Calhoun's compensation was increased in 2022. The crises have raised questions about Calhoun's leadership and Boeing's future.

Portfolio Pulse from Benzinga Neuro

March 15, 2024 | 8:20 am

ALK

Alaska Airlines' aircraft maintenance technicians and related employees, represented by AMFA, have ratified a new five-year contract. This agreement includes increased pay, retirement contribution increases, and quality of life improvements. It was negotiated over 12 months and is part of Alaska Airlines' efforts to secure seven contracts across six represented groups since 2022. The contract, effective from October 17, 2023, aims to attract and retain skilled professionals by offering competitive benefits.

Portfolio Pulse from Benzinga Newsdesk

March 14, 2024 | 5:22 pm

LEXX

LEXXW

Lexaria Bioscience Corp. has appointed Nelson Cabatuan as its new Chief Financial Officer (CFO), effective immediately. Cabatuan brings over 15 years of experience in corporate finance and operations within the life sciences industry, notably with Rain Oncology, Inc. and Rigel Pharmaceuticals, Inc. His appointment is expected to bolster Lexaria's financial operations and support its long-term growth strategy, particularly in maximizing the potential of its DehydraTECH platform for GLP-1 and other therapeutic applications.

Portfolio Pulse from Benzinga Newsdesk

March 14, 2024 | 1:22 pm

YMAB

Y-mAbs Therapeutics, Inc. (NASDAQ:YMAB), a commercial-stage biopharmaceutical company, announced the resignation of CFO Bo Kruse. Kruse will remain until a successor is found and will assist in the transition until July 31, 2024. The company is in search of a new CFO and aims for a smooth transition. Kruse's departure is amicable, with acknowledgments of his contributions to Y-mAbs' growth and financial independence.

Portfolio Pulse from Benzinga Newsdesk

March 14, 2024 | 1:06 pm

SPY

USA initial jobless claims for the week came in at 209,000, lower than the estimated 218,000 and slightly below the previous week's 210,000. This indicates a stronger labor market than expected.

Portfolio Pulse from Benzinga Newsdesk

March 14, 2024 | 12:31 pm

F

FSR

GM

MBGAF

TSLA

VWAGY

The electric vehicle (EV) market is experiencing a slowdown, leading major automakers like Ford, General Motors, Mercedes-Benz, Volkswagen, Jaguar Land Rover, and Aston Martin to adjust their strategies towards offering a mix of gas-powered, hybrid, and fully electric vehicles. Despite a record 1.2 million EV sales in the U.S. last year, the growth rate has not met expectations, prompting a more balanced approach to vehicle offerings. Fisker Inc issued a going-concern warning and announced workforce reductions due to financial struggles, while Tesla remains optimistic about its future, supported by its AI and Full Self-Driving technology.

Portfolio Pulse from Benzinga Neuro

March 14, 2024 | 8:38 am

MTEX

Mannatech, Incorporated (NASDAQ: MTEX) announced the retirement of CEO Alfredo (Al) Bala effective April 1, 2024, and the promotion of Landen Fredrick to President and CEO. Landen, previously President and Chief Operating Officer, has been mentored by Al Bala and is expected to drive operational excellence and execute strategic initiatives.

Portfolio Pulse from Benzinga Newsdesk

March 14, 2024 | 7:00 am

PLTR

Palantir Technologies Inc. (NYSE:PLTR) CEO Alex Karp's public support for Israel has led to an employee exodus, with more expected to leave. The company, known for its defense and intelligence technology, has been involved in providing support to the Israeli military, sparking controversy. Despite this, Palantir's stock has been performing well, closing at $25.00 with a 1.21% increase. Additionally, Palantir recently secured a $178.4 million contract with the U.S. Army.

Portfolio Pulse from Navdeep Yadav

March 14, 2024 | 1:51 am

FSR

Fisker Inc. (NYSE:FSR) shares dropped after hours following a Wall Street Journal report about the company's potential bankruptcy filing. The company, facing over $1 billion in debt and significant losses, has hired restructuring advisers. This news comes after a recent negative review of Fisker's Ocean SUV by tech YouTuber Marques Brownlee and a 15% workforce reduction.

Portfolio Pulse from Erica Kollmann

March 13, 2024 | 9:06 pm