Streetbeat News

Labor Issues

SPY

Fed's Kugler emphasized the need for continued wage moderation to align with the inflation target, noting that the consistent level depends on various factors including productivity.

Portfolio Pulse from Benzinga Newsdesk

February 07, 2024 | 4:37 pm

SPY

Fed's Kugler comments on the U.S. labor market, noting that layoffs are 'spotty' and not significantly impacting aggregate data. This suggests a stable labor market despite isolated layoffs.

Portfolio Pulse from Benzinga Newsdesk

February 07, 2024 | 4:35 pm

SNAP

Snap CEO Evan Spiegel discussed layoffs during a live interview on CNBC, indicating potential restructuring within the company.

Portfolio Pulse from Benzinga Newsdesk

February 07, 2024 | 4:22 pm

SPY

Fed's Kugler expressed satisfaction that the cooling of labor demand has not resulted in increased layoffs, but noted that the evolution of spending momentum throughout the year remains uncertain and could impact the disinflationary process.

Portfolio Pulse from Benzinga Newsdesk

February 07, 2024 | 4:04 pm

TSLA

Tesla Inc. (NASDAQ:TSLA) is reportedly considering mass layoffs amid a slowdown in sales growth, despite planning for future expansions and significant capital investments. The company's U.S. managers have been asked to categorize team members' roles as critical or non-critical, following the cancellation of some performance reviews. Tesla missed its earnings and revenue forecasts for Q4 2023, leading to a more than 10% drop in shares. However, the company still plans to allocate over $10 billion in capital expenditures and increase its R&D spending to approximately $4.5 billion.

Portfolio Pulse from Piero Cingari

February 07, 2024 | 3:32 pm

JBLU

JetBlue announced the appointment of Marty St. George as its new President, effective February 26, 2024. This strategic move is expected to bring experienced leadership to the airline, potentially influencing its operational and strategic direction.

Portfolio Pulse from Benzinga Newsdesk

February 07, 2024 | 2:10 pm

LVO

LiveOne (NASDAQ:LVO), a music, entertainment, and technology platform, has officially appointed Aaron Sullivan as CFO. Sullivan, who has been with the company since March 2019, previously served as Vice President, Corporate Controller, and Interim CFO. CEO Robert Ellin praised Sullivan's contributions and leadership in strengthening the company's financial and operational management.

Portfolio Pulse from Benzinga Newsdesk

February 07, 2024 | 1:38 pm

AAPL

MSFT

Rubén Caballero, a former Apple Inc. executive, has reportedly left his position at Microsoft Corp., where he was leading device engineering for mixed reality and AI since 2020. His departure, not officially announced, comes as Microsoft shifts focus towards artificial intelligence, canceling several hardware projects. This move could influence Microsoft's future direction in mixed reality and AI, areas where the company has been making significant strides.

Portfolio Pulse from Benzinga Neuro

February 07, 2024 | 12:49 pm

CRM

Salesforce Inc's (NYSE:CRM) top executive, Srini Tallapragada, has reportedly warned employees about potential financial consequences, including withholding stock grants and bonuses, if they fail to meet the 'ranger' rank on the company's internal training platform, Trailhead. Despite the company's ongoing layoffs as part of cost-cutting measures, 91.4% of employees have achieved the ranger status. This comes as Salesforce faces pressure from investors, including Elliott Management, to improve margins.

Portfolio Pulse from Benzinga Neuro

February 07, 2024 | 5:15 am

EXC

Exelon (EXC) announces leadership changes: Mike Innocenzo is named Chief Operating Officer, Dave Velazquez will become President and CEO of PECO, and Denise Galambos will succeed Amy Best as Chief Human Resources Officer. Innocenzo will oversee utility operations and report to Exelon's CEO, Calvin Butler. Velazquez, with over 40 years of utility experience, will lead PECO, serving millions in Pennsylvania. Galambos, with a background in customer operations and HR at BGE, steps into her role as Exelon focuses on DEI and a cleaner future.

Portfolio Pulse from Benzinga Newsdesk

February 06, 2024 | 9:34 pm