Streetbeat News

Labor Issues

JBLU

The Air Line Pilots Association announced that JetBlue pilots are set to proceed with negotiations for their next contract, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

March 04, 2024 | 8:58 pm

EA

Electronic Arts Inc (NASDAQ:EA) announced layoffs and game cancellations but confirmed the Star Wars strategy game, developed by Bit Reactor and produced by Respawn, remains unaffected. Despite the industry's challenges and a shift away from licensed IP, this game and Star Wars Jedi 3 continue development. EA's focus is now on owned IP, sports, and online communities.

Portfolio Pulse from Franca Quarneti

March 04, 2024 | 5:38 pm

X

Nippon Steel's executive VP, Takahiro Mori, plans to meet the USW chief to gain support for the $14.9 billion acquisition of U.S. Steel, aiming to finalize the deal by September. The merger faces opposition from lawmakers and concerns about national security, but Mori is optimistic, citing plans to maintain jobs and introduce advanced technologies. The deal's approval hinges on a shareholder vote, delayed for additional SEC paperwork, with hopes that union support will mitigate political challenges. Mori warns that rejecting the deal could deter Japanese investment in the U.S.

Portfolio Pulse from Benzinga Newsdesk

March 04, 2024 | 5:05 pm

F

Ford Motor Company (NYSE: F) and its dealers, through the Ford Fund, are investing $2 million in scholarships to address the shortage of automotive technicians. The Ford Auto Tech Scholarship will support 400 students in over 20 states, covering tuition, tools, living expenses, and transportation. This initiative is part of Ford's broader strategy to support the automotive industry's shift towards electrification and software integration, alongside its plans to increase electric vehicle production and create nearly 900 new jobs at its Michigan Assembly Plant.

Portfolio Pulse from Benzinga Neuro

March 04, 2024 | 1:07 pm

NRBO

NeuroBo Pharmaceuticals, Inc. has appointed Marshall H. Woodworth as its Chief Financial Officer, Principal Financial Officer, and Principal Accounting Officer, starting March 1, 2024. The employment agreement, effective from the same date, has an initial term of two years with automatic renewal options.

Portfolio Pulse from Benzinga Newsdesk

March 04, 2024 | 12:39 pm

TELL

Tellurian Inc. announced that its board has decided not to renew or extend CEO Octávio Simões' employment agreement beyond June 5, 2024. Additionally, Martin Houston has been named as the Executive Chairman effective February 27.

Portfolio Pulse from Charles Gross

March 04, 2024 | 12:19 pm

NSC

Ancora Holdings Group, LLC, an Ohio-based firm, is advocating for a management overhaul at Norfolk Southern Corporation due to safety concerns following a train incident in Pennsylvania. Ancora owns a significant equity stake in Norfolk Southern.

Portfolio Pulse from Benzinga Newsdesk

March 04, 2024 | 7:15 am

SAN

Santander is reducing its workforce by approximately 300 positions in its US branches as part of a strategic shift towards digital banking, according to Bloomberg. This move reflects the bank's adaptation to changing consumer preferences and the increasing demand for digital banking services.

Portfolio Pulse from Charles Gross

March 03, 2024 | 9:15 pm

FSR

NSANY

Nissan Motor Co Ltd is in advanced talks to invest over $400 million in Fisker Inc. to manufacture Fisker's Alaska electric pickup from 2026 and develop its own electric pickup using the same platform. This deal could significantly aid Fisker, which is facing financial challenges and recently announced a workforce reduction of 15%. Fisker reported a preliminary Q4 revenue increase but also a net loss, highlighting a challenging year with supplier delays affecting its Ocean SUV deliveries. Fisker's shares dropped 34% to $0.48.

Portfolio Pulse from Anan Ashraf

March 02, 2024 | 4:13 am

MSFT

Toys For Bob, known for creating Crash Bandicoot 4 and the Spyro remastered collection, announced its departure from Activision, a subsidiary of Microsoft Corp. (NASDAQ:MSFT), to pursue independent development. Despite the optimistic outlook and support from Activision and Microsoft, the studio has not revealed any specific plans for future projects. This move comes after recent layoffs and challenges, including the discontinuation of updates for Crash Team Rumble.

Portfolio Pulse from Franca Quarneti

March 01, 2024 | 9:28 pm