Streetbeat News

Labor Issues

EWQ

The total number of jobseekers in France has slightly increased to 2,827.7K from 2,825.2K previously.

Portfolio Pulse from Benzinga Newsdesk

February 27, 2024 | 11:03 am

ISDR

Issuer Direct Corp announced the resignation of CFO Timothy Pitoniak according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 10:06 pm

EXPE

Expedia announced on Feb. 22 that it is undertaking restructuring actions, including a workforce reduction impacting approximately 1,500 employees. The company expects total pre-tax charges and cash expenditures related to these actions to be between $80M and $100M.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 10:06 pm

NOVA

Sunnova Energy International Inc. (NOVA) announced the appointment of Paul Mathews as Executive Vice President, Chief Operating Officer, effective immediately. Mathews, who joined Sunnova in January 2023, has significantly improved customer service and operational efficiencies, leading to a substantial reduction in service backlog and customer complaints. His prior experience includes nearly two decades at UPS in various leadership roles. As COO, Mathews will lead multiple teams focusing on enhancing service delivery, operational leverage, and efficiencies.

Portfolio Pulse from Happy Mohamed

February 26, 2024 | 9:40 pm

EAT

Brinker International announced the retirement of CFO Joe Taylor at the end of Fiscal 2024. Mika Ware will succeed him as CFO from June 27, 2024. Additionally, Chris Caldwell has been appointed as SVP and Chief Information Officer, effective Feb. 26, 2024.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 9:22 pm

MERC

Mercer International announced that Jimmy Lee is stepping down as Executive Chairman and Director due to personal health reasons and has been named Chairman Emeritus. The company has revised its governance structure for an independent Chairman, appointing William McCartney as Interim Chairman.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 9:13 pm

MRK

NGM

NGM Biopharmaceuticals Inc (NASDAQ:NGM) is trading lower after The Column Group, its largest stockholder, agreed to acquire it for $1.55/share, an 80% premium over its last closing price before the acquisition announcement. This acquisition values NGM Bio at $135 million. NGM Bio's stock volume surged to 1.9 million, surpassing its average of 1.02 million. Despite recent challenges, including a significant workforce reduction and a failed Phase 2 trial, NGM Bio had previously reported encouraging data from a study in collaboration with Merck & Co Inc (NYSE:MRK).

Portfolio Pulse from Vandana Singh

February 26, 2024 | 6:15 pm

EBAY

eBay Inc (NASDAQ:EBAY) is set to report its Q4 financial results, with analysts expecting flat year-over-year revenue of $2.512 billion and a slight decrease in EPS to $1.03 from $1.07. The company has a history of beating revenue and EPS estimates for several quarters. Analysts highlight eBay's potential for higher-than-guidance results, margin expansion in 2024, and its valuation as inexpensive. Recent analyst ratings vary, with price targets ranging from $45 to $49. Key items to watch include costs, margins, 2024 guidance, and impacts of recent layoffs and legal settlements.

Portfolio Pulse from Chris Katje

February 26, 2024 | 6:14 pm

KR

The FTC has blocked the proposed merger between Kroger Co. (KR) and Albertsons Companies, a decision Kroger argues will harm consumers and workers by preventing lower prices and more choices in groceries. Kroger contends that the merger would have led to significant investments in price reductions and store improvements, as well as increased wages and benefits for workers. The company also highlights its commitment to community support and argues that blocking the merger benefits larger, non-unionized retailers. Kroger plans to litigate the FTC's decision in court.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 5:41 pm

RIVN

Rivian Automotive's stock is experiencing an uptick, potentially rebounding from last week's decline. This drop was attributed to mixed Q4 financial results and a workforce reduction announcement.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 5:31 pm