Streetbeat News

Labor Issues

BA

Boeing plans to reduce its workforce by 10% due to business challenges. The 777x program faces delays, with first delivery expected in 2026. Boeing will complete 767 freighter orders and end production in 2027.

Portfolio Pulse from Benzinga Newsdesk

October 11, 2024 | 8:33 pm

VLDX

Velo3D Inc has announced a global workforce reduction affecting 46 employees, as per their 8K filing. This move is likely a strategic decision to optimize operations and reduce costs.

Portfolio Pulse from Benzinga Newsdesk

October 11, 2024 | 8:03 pm

CVS

CVS Health Corp is planning to exit its core infusion services business, which may lead to job cuts. This strategic move is part of the company's efforts to streamline operations.

Portfolio Pulse from Benzinga Newsdesk

October 11, 2024 | 7:19 pm

BA

Boeing shares are trading higher despite a critical report from the U.S. Transportation Department's Office of Inspector General on FAA's oversight of Boeing's production. Boeing is addressing safety concerns and facing a costly strike by the International Association of Machinists and Aerospace Workers.

Portfolio Pulse from Vaishali Prayag

October 11, 2024 | 7:14 pm

UAL

United Airlines Aircraft Maintenance Technicians, represented by the Teamsters, held a nationwide rally demanding better wages, safety standards, and healthcare. They warn of technician shortages as negotiations with United Airlines continue.

Portfolio Pulse from Benzinga Newsdesk

October 11, 2024 | 4:45 pm

BLUE

Concerns are rising over Bluebird Bio's gene therapy as new data shows an increase in cancer cases among treated children. Seven out of 67 children developed blood cancers, up from three cases in June 2022. The FDA had previously approved the therapy, Skysona, despite these concerns. Bluebird Bio has also faced workforce reductions and financial challenges.

Portfolio Pulse from Vandana Singh

October 11, 2024 | 1:09 pm

TSBX

Turnstone Biologics is planning a major restructuring by reducing its workforce by approximately 60%. This move is likely aimed at cutting costs and refocusing the company's resources.

Portfolio Pulse from Benzinga Newsdesk

October 11, 2024 | 10:00 am

SHO

Sunstone Hotel Investors anticipates a decline in RevPAR growth by 125-150 basis points in 2024 due to labor disruptions. Adjusted EBITDAre is expected to decrease by $11M-$13M, and Adjusted FFO per share will drop by $0.06. The company will update its 2024 outlook in the upcoming earnings release.

Portfolio Pulse from Benzinga Newsdesk

October 10, 2024 | 8:21 pm

TSLA

Tesla plans to convert 500 temporary workers to permanent positions at its German Gigafactory in Gruenheide starting November 1. This move reflects an optimistic outlook for the expansion of electric car production.

Portfolio Pulse from Benzinga Newsdesk

October 10, 2024 | 3:46 pm

GM

UAW President Shawn Fain warns that hundreds of thousands of U.S. jobs are at risk if Donald Trump revokes the Inflation Reduction Act and its EV investments, including a $500 million investment for GM's Lansing plant.

Portfolio Pulse from Benzinga Newsdesk

October 10, 2024 | 1:52 pm