Streetbeat News

Labor Issues

SPY

The U6 unemployment rate in December was reported at 7.1%, slightly higher than the previous month's rate of 7.0%.

Portfolio Pulse from Benzinga Newsdesk

January 05, 2024 | 1:30 pm

PRME

Prime Medicine has appointed Allan Reine as its Chief Financial Officer (CFO), effective January 17. Reine's extensive experience in finance and biotech, including his previous role as CFO at Pulmatrix, is expected to strengthen Prime Medicine's financial leadership as the company continues to grow.

Portfolio Pulse from Benzinga Newsdesk

January 05, 2024 | 1:25 pm

BOXL

Boxlight Corporation has announced the departure of Michael Pope as CEO. Dale Strang, an independent director, has been appointed as Interim CEO. Additionally, Wayne Jackson has been appointed as the new Chairman of the Board.

Portfolio Pulse from Benzinga Newsdesk

January 05, 2024 | 12:19 pm

CVS

CVS Health (NYSE:CVS) has announced leadership changes with Tom Cowhey being appointed as CFO and Mike Pykosz as President of Health Care Delivery. Former CFO Shawn Guertin will step down due to family health reasons and leave the company on May 31, 2024.

Portfolio Pulse from Benzinga Newsdesk

January 05, 2024 | 11:34 am

ANGO

GBX

STZ

WBA

Investor sentiment, as measured by the CNN Money Fear and Greed index, has slightly declined, moving to the 'Greed' zone. The Nasdaq Composite fell for the fifth consecutive day, with a 4% drop since December 27, despite a 43% surge in 2023. Walgreens Boots Alliance Inc (WBA) reported positive Q1 earnings but reduced its quarterly dividend. U.S. private businesses added more workers than expected in December, and jobless claims fell. Most S&P 500 sectors ended lower, except for health care and financials. The Dow Jones rose slightly, while the S&P 500 and Nasdaq fell. Investors are looking forward to earnings from ANGO, GBX, and STZ, and the December jobs report is anticipated to show 170,000 new jobs.

Portfolio Pulse from Avi Kapoor

January 05, 2024 | 10:24 am

AMZN

TSLA

The IF Metall union in Sweden has proposed a compromise to end the nearly three-month-long strike against Tesla Inc. by suggesting Tesla adopt a strategy similar to Amazon.com Inc's when it entered the Swedish market. The union recommends hiring a contractor with a pre-existing collective agreement. Despite the strike, Tesla's operations in Sweden have shown resilience with over 20,000 cars registered in the past year.

Portfolio Pulse from Benzinga Neuro

January 05, 2024 | 9:18 am

ALVR

AlloVir's Board has approved a drastic workforce reduction of approximately 95% to cut costs and preserve capital, following the discontinuation of its three global Phase 3 posoleucel studies. The reduction is set to occur mainly in Q1 2024, with expected completion by April 15, 2024. AlloVir anticipates incurring about $13 million in restructuring charges due to employee termination costs, predominantly within Q1 2024.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 10:27 pm

AAPL

AMZN

GLD

GOOG

META

MSFT

NVDA

QQQ

SLV

SPY

TSLA

USO

New economic data suggests a stronger jobs picture than the market consensus, with lower weekly initial claims and higher ADP employment change than expected. This goes against the 'immaculate everything' consensus regarding the economy. A Wall Street analyst downgraded Apple Inc, affecting tech stock rallies. The Middle East situation is tenser after a deadly attack in Iran, increasing the probability of conflict. German CPI data shows inflation in line with expectations. Money flows are mixed for major tech stocks, negative for Apple and Amazon, and mixed for SPY and QQQ. Oil inventories show a larger draw than anticipated, and Bitcoin rises on ETF rumors. The Arora Report advises investors to maintain protection bands and hold cash for new opportunities, with a cautious approach to long-duration bond allocations.

Portfolio Pulse from The Arora Report

January 04, 2024 | 4:08 pm

WFC

Branch workers at Wells Fargo & Co in Delaware have filed for a union election under the Wells Fargo Workers United. This move indicates a push towards unionization within the company's workforce.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 3:51 pm

HMC

SPY

STLA

TSLA

A group of 33 U.S. Senators has sent a letter to Tesla CEO Elon Musk and the heads of 12 other automakers, urging them to commit to neutrality in unionization efforts at their U.S. plants. The letter, which was seen by Reuters, is part of a push to support workers' rights to unionize, a hot-button issue in the automotive industry.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 3:43 pm