Streetbeat News

Labor Issues

GENE

Genetic Technologies Limited (NASDAQ:GENE) has announced the resignation of Tony Di Pietro as Chief Financial Officer (CFO) and Company Secretary. The company is now seeking a replacement with expertise in managing dual ASX and Nasdaq listed companies. Di Pietro will continue in his role until a successor is appointed.

Portfolio Pulse from Charles Gross

January 07, 2024 | 11:41 pm

EXAS

Exact Sciences announces the retirement of CFO Jeff Elliott, who has contributed to the company's growth and transformation. Elliott has been with the company for nearly a decade, playing a key role in the commercialization and financial strength of Cologuard. He will remain during the transition to ensure a smooth leadership change.

Portfolio Pulse from Benzinga Newsdesk

January 07, 2024 | 10:24 pm

CPTN

Cepton's CFO, Hull Xu, has resigned from his position according to an SEC filing dated January 5, 2024.

Portfolio Pulse from Benzinga Newsdesk

January 05, 2024 | 9:43 pm

AKLI

On January 3, 2024, Santosh Shanbhag resigned from his position as CFO of Akili.

Portfolio Pulse from Charles Gross

January 05, 2024 | 9:21 pm

HLTH

Cue Health Inc has implemented a new cost reduction plan on January 4, 2024, which includes laying off 94 employees, amounting to a 13% reduction in its global workforce, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

January 05, 2024 | 9:13 pm

TLT

UTEN

The December jobs report showed a 216,000 increase in non-farm payrolls, exceeding expectations, with wage growth advancing and unemployment steady at 3.7%. Economists provided mixed reactions, with some seeing signs of a cooling labor market and others noting the market's resilience. The strong jobs data led to a rise in U.S. Treasury yields, negatively impacting bond-related ETFs like TLT and UTEN, which fell in Friday's session.

Portfolio Pulse from Piero Cingari

January 05, 2024 | 9:13 pm

TRIN

Trinity Capital Inc. (NASDAQ:TRIN) has appointed Michael Testa as the new CFO, effective immediately, as part of its long-term succession plan. He takes over from David Lund, who will stay on as a consultant to focus on strategic growth initiatives for the company.

Portfolio Pulse from Charles Gross

January 05, 2024 | 9:09 pm

AAPL

NFLX

TSLA

U.S. stocks had a shaky start to 2024 after a strong finish in 2023. Apple Inc. faced a sell-off due to a downgrade by Barclays, raising concerns about its future market performance. Netflix Inc. is exploring revenue generation from its gaming business. Oil prices surged due to tensions in the Red Sea region. BYD Co. Ltd. surpassed Tesla Inc. in EV sales last quarter. The U.S. labor market remained strong with a better-than-expected December jobs report. Online holiday spending hit record levels, and Pharrell Williams was seen driving a Tesla Cybertruck.

Portfolio Pulse from Piero Cingari

January 05, 2024 | 9:03 pm

SPY

Fed's Barkin comments on the labor market 'normalizing nicely' in light of recent rate hikes. He acknowledges the difficulty in pinpointing the real interest rate due to uncertainties around the neutral rate and expected inflation.

Portfolio Pulse from Benzinga Newsdesk

January 05, 2024 | 8:02 pm

GS

Goldman Sachs Group, Inc (NYSE:GS) employees are facing uncertainty at the start of 2024 after a year that began with significant layoffs. Instead of conducting mass firings, CEO David Solomon may use minimal year-end bonuses to encourage underperforming employees to leave voluntarily. This strategy aims to retain a substantial workforce in anticipation of a market upswing and increased deal-making. However, there is concern that this could lead to an exodus of top performers if bonuses are seen as inadequate. GS shares are trading higher by 0.80% at $386.01.

Portfolio Pulse from Anusuya Lahiri

January 05, 2024 | 5:51 pm