Streetbeat News

Labor Issues

NOW

ServiceNow is investing $1.5 billion to expand its UK operations, focusing on office space, workforce growth, and AI innovation. The company plans to implement AI through domain-specific LLMs in UK data centers and reskilling programs for British workers.

Portfolio Pulse from Benzinga Newsdesk

October 14, 2024 | 11:07 am

BA

QQQ

SIRI

SPY

TSLA

U.S. stock futures are showing mixed signals ahead of the Q3 earnings season. The SPDR S&P 500 ETF Trust (SPY) and Invesco QQQ ETF (QQQ) are up in premarket trading. Tesla (TSLA) and Sirius XM (SIRI) see gains, while Boeing (BA) faces a decline due to workforce cuts. Analysts suggest a strong market outlook post-election.

Portfolio Pulse from Shanthi Rexaline

October 14, 2024 | 10:59 am

TSLA

Tesla's supercharger network growth slowed in Q3, adding 2,800 chargers compared to over 3,000 in the same period last year. Despite this, Tesla continues to expand in Texas, particularly near SpaceX's Starbase, with new stalls in Robstown and Mathis. The slowdown follows layoffs affecting the supercharging team.

Portfolio Pulse from Anan Ashraf

October 14, 2024 | 8:55 am

MTEM

Molecular Templates' Board of Directors has approved the liquidation and wind-up of the company. The company plans to wind down Phase 1 studies for MT-6402 and MT-8421 but will continue FDA discussions for MT-0169 for autoimmune indications. A significant reduction in workforce has also been approved.

Portfolio Pulse from Benzinga Newsdesk

October 14, 2024 | 8:44 am

BA

CLEU

IPHA

KARO

NRIX

Several stocks are in focus as U.S. stock futures trade slightly lower. Karooooo Ltd. is expected to report earnings, Innate Pharma appointed a new CEO, Nurix Therapeutics beat earnings expectations, Boeing reported a significant loss and workforce reduction, and China Liberal Education reported a loss.

Portfolio Pulse from Avi Kapoor

October 14, 2024 | 6:35 am

BA

Jim Cramer expressed concerns about Boeing's financial health after the company announced layoffs of 17,000 employees amid safety issues and strikes. Boeing faces challenges including grounded 737 Max planes, technical issues with the Starliner spacecraft, and postponed delivery of the 777X airplane.

Portfolio Pulse from Navdeep Yadav

October 13, 2024 | 5:09 am

H

HLT

MAR

Hilton hotel workers at Seattle airport are on strike demanding higher wages and reversal of COVID-era cuts. The strike involves 374 workers and is part of a larger movement affecting Hilton, Hyatt, and Marriott hotels in multiple cities.

Portfolio Pulse from Anan Ashraf

October 13, 2024 | 3:13 am

AAPL

Apple Inc. (NASDAQ:AAPL) is facing a second complaint this month from the U.S. National Labor Relations Board (NLRB) for allegedly restricting employee advocacy on social media and Slack. The complaint includes accusations of unlawful work rules and employee termination related to workplace advocacy. Apple denies the allegations and is committed to defending its position.

Portfolio Pulse from Ananya Gairola

October 12, 2024 | 6:25 am

BA

Boeing (NYSE:BA) is set to reduce its workforce by 10%, affecting 17,000 jobs, amidst ongoing challenges including labor strikes, safety concerns, and financial struggles. The company is dealing with the aftermath of 737 Max incidents, technical issues with the Starliner spacecraft, and a postponed 777X delivery.

Portfolio Pulse from Rounak Jain

October 12, 2024 | 5:39 am

BA

Boeing shares decline following the announcement of disappointing Q3 preliminary revenue and a 10% workforce reduction.

Portfolio Pulse from Benzinga Newsdesk

October 11, 2024 | 8:43 pm