Streetbeat News

Labor Issues

EPAC

Enerpac Tool Group announces CFO Anthony Colucci's departure to join a private equity firm. He will stay until March 1, 2024, for transition. P. Shannon Burns and Patrick Dawson are appointed as interim financial and accounting officers, respectively.

Portfolio Pulse from Benzinga Newsdesk

February 08, 2024 | 9:35 pm

MNY

MoneyHero Group announced the resignation of Shaun Kraft, its CFO and COO, effective May 4, 2024. Ivan Ho will serve as interim CFO, while CEO Prashant Aggarwal and senior team members will assume COO responsibilities.

Portfolio Pulse from Benzinga Newsdesk

February 08, 2024 | 9:33 pm

NET

Cloudflare, Inc. (NYSE:NET) has appointed Mark Anderson, a seasoned executive with over 25 years of experience in scaling enterprise technology companies, as its President of Revenue. Anderson, who has been a member of Cloudflare's Board of Directors since 2019, aims to accelerate Cloudflare's growth to achieve $5 billion in annual recurring revenue. He has previously contributed to significant revenue growth at companies like Alteryx, Palo Alto Networks, and F5 Networks. Anderson's appointment is part of Cloudflare's strategy to enhance its go-to-market efforts and continue its trajectory of growth, building on the strong foundation laid by Marc Boroditsky, the former President of Revenue.

Portfolio Pulse from Benzinga Newsdesk

February 08, 2024 | 9:28 pm

SYBX

Synlogic announced it will cease operations and reduce its workforce by over 90%. This decision comes as a significant move for the company, impacting its future direction and operations.

Portfolio Pulse from Charles Gross

February 08, 2024 | 9:27 pm

APPS

ARM

SYRA

TENX

UCAR

U.S. stocks showed mixed performance with the Dow Jones falling by 0.29% and the NASDAQ rising by 0.26%. U.S. initial jobless claims decreased to 218,000, beating estimates. Syra Health Corp. surged 254% after announcing a $75 billion federal contract partnership. U Power Limited rose 40% with a new board appointment. Arm Holdings plc gained 58% on strong financial results and guidance. Conversely, Tenax Therapeutics, 23andMe, and Digital Turbine saw significant drops after disappointing financial updates.

Portfolio Pulse from Avi Kapoor

February 08, 2024 | 5:36 pm

SPY

Fed's Thomas Barkin reports that business contacts are less concerned about recession risks, noting firms are stabilizing employment and experiencing diminished pricing power. This insight suggests a potentially more stable economic environment.

Portfolio Pulse from Benzinga Newsdesk

February 08, 2024 | 5:12 pm

AAL

ALK

DAL

JBLU

LUV

SAVE

SPY

UAL

ULCC

The U.S. Senate Commerce Committee voted against a proposal to increase the mandatory retirement age for airline pilots from 65 to 67. This decision impacts airlines and aircraft manufacturers by maintaining the current workforce age limit.

Portfolio Pulse from Benzinga Newsdesk

February 08, 2024 | 4:07 pm

SIDU

Sidus Space (NASDAQ:SIDU) announced the appointment of Bill White as CFO effective February 20, 2024. White brings over 30 years of experience in financial management and has served as CFO for ProPhase Labs, Inc. and Intellicheck, Inc. His expertise in capital markets, M&A, and strategic planning aligns with Sidus' growth stage. Teresa Burchfield will step down as CFO but will remain in an advisory role to assist with the transition.

Portfolio Pulse from Benzinga Newsdesk

February 08, 2024 | 1:55 pm

AMZN

BABA

GOOG

GOOGL

Alibaba Group Holding Limited (NYSE:BABA) stock is trading lower, down by 2.10% in premarket trading on Thursday, following its third-quarter results release. The company reported a 5% year-on-year revenue growth to $36.67 billion, slightly missing the consensus of $36.74 billion, and adjusted earnings per ADS of $2.67, below the consensus of $2.69. Additionally, Alibaba announced a $25 billion increase in its share repurchase program but also shelved IPOs for its logistics arm, Cainiao Smart Logistics, and Freshippo due to intense domestic competition and a recent recovery from a regulatory crackdown. The company underwent significant restructuring, splitting into six units and announcing layoffs of 20,000 positions, aligning with trends seen in other Big Tech firms like Amazon and Alphabet.

Portfolio Pulse from Anusuya Lahiri

February 08, 2024 | 1:47 pm

SPY

The latest report shows continuing jobless claims at 1.871 million, slightly below the estimated 1.878 million. This indicates a marginally better-than-expected labor market situation.

Portfolio Pulse from Benzinga Newsdesk

February 08, 2024 | 1:30 pm