Streetbeat News

Labor Issues

SPY

Fed's Goolsbee suggests that positive labor supply shocks are likely to have a more enduring impact on inflation compared to supply chain shocks. This insight could influence future monetary policy decisions and market expectations.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 4:28 pm

SPY

Fed's Goolsbee highlighted that the impact of labor supply shocks on inflation could have prolonged effects. This statement suggests a cautious approach towards inflation expectations and monetary policy adjustments.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 4:26 pm

EA

MSFT

NERD

SONY

TCEHY

Electronic Arts Inc (EA) announced a plan to lay off 5% of its workforce, around 670 employees, focusing on core gaming franchises and online communities. This move is part of a broader strategy to consolidate office space and halt development on certain video games, with estimated charges of $125 million to $165 million. The restructuring aims to streamline operations and focus on successful franchises like Apex Legends, Battlefield, and The Sims. Similarly, Sony, Microsoft, and Tencent's Riot Games have also announced layoffs in their gaming divisions. The Roundhill Video Games ETF (NERD), with close to 10% exposure to EA, has gained 0.46% year-to-date. EA shares traded higher by 2.17% at $143.12 premarket.

Portfolio Pulse from Anusuya Lahiri

February 29, 2024 | 2:07 pm

SPY

USA initial jobless claims came in at 215,000, higher than the estimated 209,000 and the previous 202,000, indicating a slight increase in unemployment claims.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 1:30 pm

XMTR

YELP

Xometry, Inc. (NASDAQ:XMTR) has appointed James Miln, previously with Yelp (NYSE:YELP), as its new CFO effective March 1, 2024. Miln brings extensive financial and operational expertise from his time at Yelp, where he contributed to significant growth and the introduction of AI-powered search features. He replaces Jim Rallo, who is retiring but will stay on as an advisor until April to assist with the transition.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 12:10 pm

KA

Kineta has announced its intention to explore strategic alternatives, including a significant workforce reduction by seven full-time employees, to enhance shareholder value.

Portfolio Pulse from Charles Gross

February 29, 2024 | 12:06 pm

EWG

Germany's unemployment rate for February was reported at 5.9%, slightly higher than the estimated 5.8% and the previous month's rate of 5.8%.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 8:58 am

EWG

Germany's unemployment change for February was reported at 11K, surpassing the estimated 6K and showing a significant increase from the previous month's -2K.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 8:58 am

CC

Chemours Company announced Denise Dignam as the Interim CEO and Matt Abbott as the Interim CFO. Dignam has been with Chemours since 2015, recently serving as President of Titanium Technologies. Abbott, serving since June 2023, oversees various operational aspects including IT and Cyber Security.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 8:04 am

ANET

Anshul Sadana, the COO of Arista Networks, announced his plan to take a leave of absence for personal reasons on February 26, 2024.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 7:11 am