Streetbeat News

Labor Issues

CBRL

Cracker Barrel Old Country Store, Inc. (CBRL) announced the acceleration of Sandra B. Cochran's retirement and her resignation from the Board of Directors on February 22, 2024. Carl T. Berquist, previously the Lead Independent Director, has been appointed as the new independent Chairman of the Board. Additionally, the Board's size was reduced from eleven to ten members.

Portfolio Pulse from Benzinga Newsdesk

February 23, 2024 | 11:11 am

KIND

Nextdoor Holdings has announced the appointment of Nirav Tolia as its new Chief Executive Officer, President, and Chairperson. Tolia, who is replacing Sarah Friar, is set to lead the company into its next phase of growth.

Portfolio Pulse from Benzinga Newsdesk

February 23, 2024 | 11:08 am

RIVN

TSLA

Elon Musk, CEO of Tesla, warned that Rivian Automotive's executive team needs to significantly cut costs and spend more time in the factory to avoid bankruptcy. Musk's comments follow his previous statement about Rivian's potential bankruptcy in six quarters. Despite acknowledging Rivian's product design, he highlighted the challenges of volume production and positive cash flow. Rivian reported a Q4 revenue of $1.3 billion, a net loss of $1.52 billion, and ended the quarter with $10.47 billion in total liquidity.

Portfolio Pulse from Anan Ashraf

February 23, 2024 | 6:44 am

SXC

SunCoke Energy announced that CEO Michael Rippey intends to retire on May 15, 2024. Katherine Gates has been named as his successor. This leadership transition is significant for the company's future direction and strategy.

Portfolio Pulse from Benzinga Newsdesk

February 22, 2024 | 10:15 pm

HP

Helmerich & Payne, Inc. (NYSE:HP) announced the retirement of CFO Mark W. Smith in August 2024. The company has started searching for a new CFO. Smith will remain as a senior advisor until December 2024 after retirement. CEO John Lindsay praised Smith's role in navigating challenging times and contributing to the company's financial discipline and strategic changes.

Portfolio Pulse from Happy Mohamed

February 22, 2024 | 10:01 pm

MSA

MSA Safety has announced the election of Steve Blanco as its new CEO, effective May 10, 2024, succeeding Nish Vartanian who plans to retire. Blanco, currently MSA's President and COO, has also been elected as a director of the company effective immediately.

Portfolio Pulse from Benzinga Newsdesk

February 22, 2024 | 9:41 pm

BA

Boeing Co (NYSE:BA) announced a leadership shake-up following a 737 Max 9 incident and regulatory scrutiny. Shares fell 20% since the incident. The FAA has increased oversight. New appointments include Uma Amuluru as HR officer and Katie Ringgold as VP of the 737 MAX program. Analysts view the changes positively but question if they are sufficient to restore confidence. Bank of America maintains a Neutral rating on Boeing with a $225 price target.

Portfolio Pulse from Neil Dennis

February 22, 2024 | 8:28 pm

SPY

Fed's Harker noted a stronger disinflation trend, indicating the Fed is close to its 2% target. Despite strong consumer spending, there's concern over increasing credit-related delinquencies. However, a rise in layoffs is not seen as a sign of an impending recession.

Portfolio Pulse from Benzinga Newsdesk

February 22, 2024 | 8:17 pm

RIVN

Rivian Automotive reported a Q4 loss of $1.36 per share, with a per-vehicle loss of $43,000. Despite this, CEO RJ Scaringe remains confident in achieving positive gross margin in Q4 2023 through cost-cutting measures, including workforce reduction and operational efficiencies. The company's 2024 production guidance is below analyst estimates due to a planned production facility shutdown for significant vehicle changes.

Portfolio Pulse from Erica Kollmann

February 22, 2024 | 7:25 pm

GS

Former Goldman Sachs recruiter Chanelle Howell advises job candidates to ask employers to explain the skills and experiences that justify different salary levels within a posted range. This strategy, aimed at unlocking higher salary opportunities, leverages increasing transparency in salary disclosures. Howell's approach encourages candidates to tailor their interview responses to meet the higher salary criteria, based on the employer's own valuation of skills and experiences.

Portfolio Pulse from Adam Eckert

February 22, 2024 | 7:12 pm