Streetbeat News

Labor Issues

SVT

Servotronics, Inc. has appointed Harrison W. Kelly as its new Chief Operating Officer (COO). This strategic move could signal a new direction or operational strategy for the company. Investors may watch for potential changes in operations and performance under Kelly's leadership.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 10:37 pm

WALD

Waldencast announced that Manuel Manfredi will become the new CFO on April 1, 2024. Philippe Gautier, the current CFO and COO, is departing from the company. Michel Brousset, the CEO, will cover the CFO role as interim until Manfredi takes over.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 10:21 pm

BRBR

BellRing Brands has announced that Executive Chairman Robert Vitale has concluded his medical leave and has resumed his full duties as Executive Chairman.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 10:11 pm

UFI

Unifi, Inc. has appointed A.J. Eaker as the new Executive Vice President and Chief Financial Officer (CFO).

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 9:13 pm

SPY

Federal Reserve Chairman Jerome Powell indicated that the labor market is rebalancing, suggesting that the tight labor conditions may be easing. This statement could have implications for future monetary policy decisions, as the Fed has been closely monitoring labor market tightness in its efforts to control inflation.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 7:55 pm

SPY

Federal Reserve Chairman Jerome Powell attributed much of the current economic growth to improvements in the labor market and the resolution of supply chain issues. He indicated that the economy is experiencing a post-pandemic healing process.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 7:53 pm

SPY

Fed Chair Powell indicated that while the Fed is not aiming for a decrease in employment, they are prepared to cut interest rates if there is an unexpected weakening in the labor market. This suggests a readiness to adjust monetary policy to maintain economic stability.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 7:46 pm

CRM

GOOG

MSFT

PYPL

Tech sector layoffs surged by 304% in January 2024 compared to December 2023, with 28,963 employees laid off from 105 companies. Notable layoffs include Alphabet Inc (over 1,000 employees), PayPal Holdings, Inc (2,500 employees), Block Inc (over 1,000 employees), Microsoft Corp (1,900 employees), Salesforce Inc (700 employees), and Unity Software Inc (1,800 employees). The layoffs are attributed to restructuring and cost-cutting efforts.

Portfolio Pulse from Surbhi Jain

January 31, 2024 | 7:40 pm

SPY

Fed Chair Powell indicates that the policy rate is now well into restrictive territory, suggesting a more balanced approach to achieving economic goals. Housing sector activity remains subdued, while the labor market is tight with strong job gains continuing.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 7:33 pm

AAPL

ADP

AMD

AMZN

GOOG

META

MSFT

NVDA

QQQ

SPY

TSLA

The Arora Report analyzed earnings from Microsoft (MSFT), Advanced Micro Devices (AMD), and Alphabet (GOOG), stating they were good but did not meet the whisper numbers, and AI prospects are strong but overhyped. ADP's employment report showed weaker than expected job growth, leading to speculation of a potential Fed rate cut, which caused a shift from selling to buying in tech stocks. Money flows were negative in major tech stocks like Apple (AAPL), Amazon (AMZN), Alphabet (GOOG), Meta Platforms (META), Microsoft (MSFT), NVIDIA (NVDA), and Tesla (TSLA), while mixed in ETFs SPY and QQQ. The momo crowd is buying gold, oil, and bitcoin, while smart money remains inactive. The Arora Report advises investors to maintain a protection band of cash, hedges, and short-term trades to balance risk and opportunity.

Portfolio Pulse from The Arora Report

January 31, 2024 | 5:00 pm