Streetbeat News

Labor Issues

SPY

UUP

The February jobs report showed a stronger-than-expected increase in non-farm payroll growth with 270,000 jobs added, surpassing the anticipated 200,000. However, the unemployment rate rose to 3.9%, and wage growth decelerated, indicating a potential easing of tight labor market conditions. The report could support the Federal Reserve in easing monetary policy later this year. Treasury yields dropped, and the U.S. dollar index fell slightly, while futures on major U.S. indices traded higher.

Portfolio Pulse from Piero Cingari

March 08, 2024 | 1:42 pm

SPY

The Average Hourly Earnings for February increased by 0.1%, which is below the estimated 0.2%.

Portfolio Pulse from Benzinga Newsdesk

March 08, 2024 | 1:31 pm

SPY

The February Nonfarm Payrolls report exceeded expectations with 275,000 jobs added, compared to the estimated 198,000. Private Nonfarm Payrolls also surpassed forecasts with 223,000 jobs added.

Portfolio Pulse from Benzinga Newsdesk

March 08, 2024 | 1:31 pm

SPY

The USA unemployment rate for February was reported at 3.9%, exceeding the estimated 3.7% and slightly higher than the previous 3.7%.

Portfolio Pulse from Benzinga Newsdesk

March 08, 2024 | 1:30 pm

SPY

The Nonfarm Payrolls report for February showed an addition of 223,000 jobs, surpassing the estimated 198,000. This indicates a stronger than expected labor market.

Portfolio Pulse from Benzinga Newsdesk

March 08, 2024 | 1:30 pm

MSFT

OpenAI experienced leadership turmoil with the brief ouster of CEO Sam Altman, influenced by concerns from CTO Mira Murati and co-founder Ilya Sutskever regarding Altman's leadership style. Despite their concerns, both supported Altman's return, amid fears of a talent drain and employee resignations. The board agreed to restructure for more diversity and independence. Microsoft Corp. played a significant role by hiring Altman and Greg Brockman for a new AI research team, underscoring its commitment to AI and its partnership with OpenAI.

Portfolio Pulse from Rounak Jain

March 08, 2024 | 1:06 pm

ALK

BA

Boeing Company (NYSE:BA) is revising its bonus structure to prioritize safety and quality, making them account for 60% of the payout in its commercial unit. This change, affecting over 100,000 nonunion employees, comes after safety incidents and FAA concerns. Alaska Air Group Inc (NYSE:ALK) experienced a door panel detachment on a 737 MAX 9, highlighting the safety issues. Boeing's shares dropped 0.99% in premarket trading.

Portfolio Pulse from Shivani Kumaresan

March 08, 2024 | 11:24 am

BTCUSD

COIN

As Bitcoin's price surges, reaching $69,000, centralized crypto exchanges like Coinbase, Binance, and Bitget are reversing previous hiring freezes and layoffs, signaling a renewed optimism in the industry. Despite the market's recovery, DeFi platforms such as Pendle Finance and dYdX are not adjusting their hiring strategies significantly. The industry's hiring outlook is cautiously optimistic, with a focus on roles in product, engineering, compliance, and marketing.

Portfolio Pulse from Mehab Qureshi

March 08, 2024 | 3:58 am

FNKO

Funko announced that Steve Nave resigned from his positions as CFO and COO on March 6. This change in executive leadership could impact the company's operations and financial strategies moving forward.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 9:47 pm

FCPT

Four Corners Property Trust (FCPT) announced a CFO transition, with Gerry Morgan set to retire on May 3, 2024, and Patrick Wernig, the current Managing Director of Acquisitions, named as his successor. Wernig's appointment is subject to Board approval and will follow a transitional period after the release of the Q1 2024 financial results. Morgan, who has significantly contributed to FCPT's growth since its spin-off from Darden in 2015, will assume an interim advisory role to facilitate the transition. Wernig, with the company since 2016, has a background in real estate and gaming sectors from his time at J.P. Morgan.

Portfolio Pulse from Happy Mohamed

March 07, 2024 | 9:25 pm