Streetbeat News

Labor Issues

AMP

AMZN

PRGS

VKTX

Insiders at Amazon, Viking Therapeutics, Ameriprise Financial, and Progress Software have recently sold shares. Amazon's layoffs in One Medical and Pharmacy units are part of a cost-cutting initiative. Viking Therapeutics reported an in-line loss for Q4, while Ameriprise Financial and Progress Software posted better-than-expected financial results for the same period.

Portfolio Pulse from Avi Kapoor

February 12, 2024 | 1:19 pm

FTCI

FTC Solar, Inc. (NASDAQ:FTCI) has officially appointed Cathy Behnen as its Chief Financial Officer, effective immediately. Behnen, who has been serving as Interim CFO since November 2023, brings over 20 years of financial leadership experience to the role. Her appointment is part of FTC Solar's strategy to strengthen its leadership team as it aims for long-term profitable growth. Behnen's background includes roles as CFO and VP of Finance at Penn National Gaming Hollywood Casino Jamul – San Diego, and a Partner at RubinBrown.

Portfolio Pulse from Happy Mohamed

February 12, 2024 | 1:13 pm

SAP

SAP SE's Supervisory Board has nominated Pekka Ala-Pietilä as the new member and potential successor to Chairman Hasso Plattner. Ala-Pietilä will be up for election at the next Annual General Meeting for a two-year term. Additionally, Punit Renjen will resign from the SAP Supervisory Board due to differing views on the role of the chair, effective May 15, 2024.

Portfolio Pulse from Benzinga Newsdesk

February 12, 2024 | 7:02 am

NSRGY

PARA

The article discusses the idea of making the day after the Super Bowl a national holiday, citing a significant number of people who miss work and the potential productivity loss. It mentions Paramount Inc (NASDAQ:PARA)(NASDAQ:PARAA) broadcasting Super Bowl LVIII and Nestle (OTC:NSRGY) through its joint venture Drumstick, advocating for the holiday with a Super Bowl commercial. NFL Commissioner Roger Goodell's stance on keeping the game on Sunday for larger audiences is also highlighted.

Portfolio Pulse from Chris Katje

February 11, 2024 | 2:28 pm

TSLA

Tesla Inc (NASDAQ: TSLA) has announced a significant pay raise for its U.S. factory workers, with hourly wages now ranging from $22 to $39. The adjustment reflects regional cost of living differences, with higher wages in California compared to Nevada and Texas. The new pay structure includes seven levels of compensation and introduces a performance-based bonus system named Cyber Wallet, offering paid time off, cash rewards, or stock options. This move comes amid growing unionization momentum within the industry.

Portfolio Pulse from Bibhu Pattnaik

February 10, 2024 | 7:46 pm

DIS

PLTR

PYPL

TSLA

Benzinga's analysis highlights the S&P 500 and Nasdaq 100's positive performance, driven by AI optimism. Treasury Secretary Janet Yellen expressed concerns about digital assets and the commercial real estate sector, advocating for regulatory action and fiscal sustainability. Bullish views were shared on Tesla, Palantir, and a meme coin named Floki, while bearish perspectives focused on the market dominance of tech giants, Disney's diversity policies, and PayPal's conservative outlook for 2024.

Portfolio Pulse from Michael Cohen

February 10, 2024 | 1:39 pm

MSFT

SGAMY

Microsoft Corp. (NASDAQ:MSFT) has countered the Federal Trade Commission's (FTC) criticism regarding the 1,900 layoffs post-Activision acquisition, stating Activision was already planning significant layoffs prior to the merger. Microsoft criticized the FTC's claims as 'incomplete and misleading,' highlighting that the layoffs were part of pre-existing plans by Activision, aligning with broader industry trends. The tech giant also mentioned its readiness to reverse the acquisition if necessary, though deemed unlikely. The FTC's concerns are focused on antitrust issues rather than workforce implications.

Portfolio Pulse from Franca Quarneti

February 09, 2024 | 10:14 pm

SYBX

Synlogic Inc (NASDAQ:SYBX) stock plummeted by 48.4% to $1.78 after announcing the discontinuation of Synpheny-3, ceasing operations, and a workforce reduction of over 90%. The decision was based on an internal review suggesting the trial wouldn't meet its primary endpoint, not safety concerns. The company is exploring strategic options to enhance shareholder value, including potential acquisitions, mergers, or other transactions. Dr. Aoife Brennan, President and CEO, will leave, retaining only essential personnel for strategic review.

Portfolio Pulse from Henry Khederian

February 09, 2024 | 7:39 pm

SPY

Fed's Logan stated the U.S. economy is currently in a 'good place,' with expectations for inflation to remain near target and the labor market to loosen while remaining robust. This outlook suggests a balanced approach to monetary policy.

Portfolio Pulse from Benzinga Newsdesk

February 09, 2024 | 7:14 pm

SPY

Fed's Bostic highlights that businesses are facing significant challenges in finding employees and securing affordable housing. He also suggests that data indicate real wage gains are expected to continue for several more months.

Portfolio Pulse from Benzinga Newsdesk

February 09, 2024 | 6:26 pm