Streetbeat News

Labor Issues

HRB

H&R Block's CFO, Tony Bowen, has announced plans to retire but will remain with the company until September 2024. H&R Block will start an external search for his replacement.

Portfolio Pulse from Benzinga Newsdesk

February 06, 2024 | 9:09 pm

LYFT

UBER

Uber Technologies Inc (NYSE:UBER) is experiencing a significant stock surge, reaching new all-time highs ahead of its Q4 earnings report on Feb. 7, with expectations of 15 cents EPS and $9 billion in revenues. The stock has risen over 105% in the past year and 13% in 2024, crossing $70 a share on Feb. 6. Analysts focus on Uber's growth in mobility and delivery sectors, its financial performance, and strategic management. The company's clarification on labor reclassification and its market dominance over competitors like Lyft Inc (NASDAQ:LYFT) contribute to its positive outlook. Analyst consensus rates Uber as a Buy with a target price of $60.75, with recent estimates between $68 and $79.

Portfolio Pulse from Surbhi Jain

February 06, 2024 | 8:03 pm

AMZN

Amazon is implementing a new cost-cutting mandate that includes laying off hundreds of employees at its One Medical and Pharmacy units. This move is part of a broader strategy to reduce expenses across the company.

Portfolio Pulse from Benzinga Newsdesk

February 06, 2024 | 7:23 pm

SPY

Fed's Mester commented that current wage gains are too high to achieve the 2% inflation target. However, higher productivity levels could alter the wage-inflation relationship.

Portfolio Pulse from Benzinga Newsdesk

February 06, 2024 | 5:02 pm

SPY

Fed's Mester emphasized that inflation needs to show a sustainable decrease before considering rate cuts. She expects inflation to return to 2% over time, with growth and employment expected to moderate this year. Mester also highlighted the risk of the labor market cooling faster than anticipated.

Portfolio Pulse from Benzinga Newsdesk

February 06, 2024 | 5:01 pm

AAPL

FVRR

GOOG

PYPL

On CNBC's 'Halftime Report Final Trades,' experts highlighted their final trades including Alphabet Inc. (GOOG/GOOGL) with its better-than-expected Q4 earnings but lower ad sales, PayPal Holdings, Inc. (PYPL) facing layoffs before its earnings release, Fiverr International Ltd. (FVRR) expected to report Q4 results, and Apple Inc. (AAPL) with strong Q1 earnings despite a revenue decline in China. Stock movements were noted with Alphabet and Apple seeing gains, while PayPal and Fiverr experienced fluctuations.

Portfolio Pulse from Avi Kapoor

February 06, 2024 | 4:03 pm

META

SNAP

Snap, Inc. (NYSE:SNAP) is experiencing a rise in stock price ahead of its Q4 earnings report, following a workforce reduction announcement and positive anticipation built from Meta Platforms, Inc.'s (NASDAQ:META) earnings. Snap plans to cut 528 employees, incurring severance costs between $55 million and $75 million, with the majority expected in Q1 2024. The company is set to release its earnings, with an expected EPS of 6 cents and revenue of $1.375 billion. Snap's stock is trading above its 50-day moving average and near its 52-week high.

Portfolio Pulse from Erica Kollmann

February 06, 2024 | 4:01 pm

ASTS

BIGC

GSK

IEP

Jim Cramer shared his views on several stocks on CNBC's 'Mad Money Lightning Round'. He is bullish on GSK plc, citing its recent legal settlement and positive momentum. Cramer is cautious about AST SpaceMobile and Kroger, due to concerns about profitability and the CFO's departure, respectively. He praised Parker-Hannifin for its strong financial performance and guidance, while dismissing BigCommerce in favor of Amazon. Cramer also expressed uncertainty about Icahn Enterprises' holdings.

Portfolio Pulse from Avi Kapoor

February 06, 2024 | 3:56 pm

SPR

The FAA Administrator announced the need for more inspectors and plans to maintain some inspectors at Boeing and Spirit AeroSystems facilities following an audit, as reported by Reuters.

Portfolio Pulse from Benzinga Newsdesk

February 06, 2024 | 3:52 pm

JPM

Chase announced a multi-billion dollar investment to open over 500 new branches, renovate 1,700 locations, and hire 3,500 employees by 2027. The expansion aims to provide greater access to banking in new markets, including underserved communities, and will contribute to local economic growth through construction, community investments, and hiring. Marianne Lake, CEO of Consumer & Community Banking, emphasized the commitment to the financial and overall health of the communities served.

Portfolio Pulse from Benzinga Newsdesk

February 06, 2024 | 3:02 pm