Streetbeat News

Labor Issues

SPY

Fed's Jefferson highlighted the unpredictable nature of the labor market, suggesting changes can occur rapidly in ways that policymakers cannot foresee. This statement underscores the challenges in monetary policy decision-making, especially in times of economic uncertainty.

Portfolio Pulse from Benzinga Newsdesk

February 22, 2024 | 3:41 pm

BZFD

BuzzFeed announced the sale of Complex to NTWRK for $108.6 million in cash and a strategic restructuring that includes cutting 16% of its workforce. This move is aimed at streamlining operations and focusing on core areas of growth.

Portfolio Pulse from Benzinga Newsdesk

February 22, 2024 | 3:02 pm

SPY

Fed's Jefferson highlighted three key risks to the economy: resilient consumer spending stalling inflation progress, potential weakening of employment, and elevated geopolitical risks. He anticipates that as the labor market cools, core services inflation will continue to moderate.

Portfolio Pulse from Benzinga Newsdesk

February 22, 2024 | 3:01 pm

DIS

F

LUNR

SMCI

U

ZS

Jim Cramer discussed various companies on CNBC's 'Mad Money Lightning Round,' highlighting Zscaler as a good buy and expressing concerns about Unity Software. Super Micro Computer announced a $1.5 billion convertible notes offering. Disney reported strong earnings and a new share repurchase program. Intuitive Machines launched a lunar lander. Unity Software plans a significant workforce reduction. Ford reduced prices for its Mustang Mach-E in Canada.

Portfolio Pulse from Avi Kapoor

February 22, 2024 | 2:13 pm

RIVN

Rivian's stock price declined following the announcement of mixed Q4 financial results and a decision to reduce its salaried workforce by approximately 10%.

Portfolio Pulse from Benzinga Newsdesk

February 22, 2024 | 1:40 pm

SPY

The latest report shows continuing jobless claims have decreased to 1.862 million, lower than the expected 1.885 million and the previous 1.895 million. This indicates a slight improvement in the job market.

Portfolio Pulse from Benzinga Newsdesk

February 22, 2024 | 1:30 pm

SPY

US initial jobless claims for the week came in at 201,000, significantly lower than the estimated 217,000. This indicates a stronger labor market than anticipated.

Portfolio Pulse from Benzinga Newsdesk

February 22, 2024 | 1:30 pm

FLYW

Cosmin Pitigoi is set to join Flywire as CFO on March 4, 2024. Current CFO Mike Ellis will transition to a senior advisor role to ensure a smooth handover.

Portfolio Pulse from Benzinga Newsdesk

February 22, 2024 | 12:09 pm

LUV

Southwest Airlines and the Transport Workers Union Local 555 have reached a tentative agreement for a new labor contract, covering nearly 18,000 employees including Ramp, Operations, Provisioning, and Cargo Agents. The terms of the agreement were not disclosed, but TWU 555 plans to communicate the details and voting timeline directly to its members.

Portfolio Pulse from Benzinga Newsdesk

February 22, 2024 | 12:08 pm

ETSY

GFI

LCID

NOVA

RAPT

RIVN

RUN

Rivian Automotive reported a Q4 loss and plans to reduce its workforce by 10%, leading to a 14.3% drop in pre-market trading. Other stocks like Etsy, Lucid Group, RAPT Therapeutics, Gold Fields, Sunrun, and Sunnova Energy also saw pre-market losses due to various reasons including mixed financial results, clinical holds, and weak quarterly results.

Portfolio Pulse from Avi Kapoor

February 22, 2024 | 10:28 am