Streetbeat News

Labor Issues

ODV

Osisko Development's COO, Luc Lessard, is set to retire at the end of 2023. The company has appointed Éric Tremblay as the Interim COO and is currently searching for a permanent replacement, with an update to be provided in due course.

Portfolio Pulse from Benzinga Newsdesk

December 28, 2023 | 10:17 pm

CMCSA

DIS

FOX

PARA

The Hollywood strike in 2023 led to a significant drop in fall broadcast viewership for major networks due to a lack of new scripted content. ABC, owned by Walt Disney Co (NYSE:DIS), was an exception with a 15% increase in viewership, thanks to 'The Golden Bachelor' and sports programming. CBS, owned by Paramount Global (NASDAQ:PARA)(NASDAQ:PARAA), suffered the most with a 32% decline. Fox Corporation (NASDAQ:FOX)(NASDAQ:FOXA) experienced a 27% drop, while NBC, owned by Comcast Corporation (NASDAQ:CMCSA), saw a 4% decrease. Sports content, particularly NFL games, played a significant role in mitigating the impact. CBS found success with 'NCIS: Sydney,' which was added to the lineup due to the strike. The return of most series in 2024 is expected to boost content availability.

Portfolio Pulse from Chris Katje

December 28, 2023 | 8:14 pm

FDX

FedEx pilots, represented by ALPA, have expressed concerns over the company's $1 billion share repurchase agreement, emphasizing the importance of investing in employee contracts for long-term growth and competitiveness. The pilots highlight that other airlines have chosen to invest in their workforce, which they believe is crucial for retaining and recruiting talent, as well as ensuring a stable and prosperous future for FedEx.

Portfolio Pulse from Benzinga Newsdesk

December 28, 2023 | 5:05 pm

JD

JD.Com shares are experiencing an uptick due to overall strength in Chinese stocks and a report indicating plans to raise employee salaries next year.

Portfolio Pulse from Benzinga Newsdesk

December 28, 2023 | 3:40 pm

BABA

JD

JD.com Inc (NASDAQ:JD) shares are rising after a Bloomberg report revealed plans to nearly double the salaries of its front-line staff and increase retail staff salaries by 20%. The move follows internal calls for change and significant human resource expenses last quarter. JD is also benefiting from broader market movements, with Chinese stocks rising on news of China's central bank planning to increase financial support for enterprises. JD's revenue growth was stronger than expected last quarter, and e-commerce sales growth is anticipated to improve through 2024.

Portfolio Pulse from Adam Eckert

December 28, 2023 | 2:22 pm

SPY

USA Continuing Jobless Claims came in at 1,875K, matching the estimate and slightly higher than the prior figure of 1,861K.

Portfolio Pulse from Benzinga Newsdesk

December 28, 2023 | 1:30 pm

SPY

USA Initial Jobless Claims came in at 218,000, higher than the estimated 210,000 and the previous figure of 206,000. This indicates a slight increase in unemployment claims.

Portfolio Pulse from Benzinga Newsdesk

December 28, 2023 | 1:30 pm

BABA

JD

JD.com Inc (NASDAQ:JD) plans to significantly increase the fixed salaries of its front-line staff starting in 2024, despite facing a volatile Chinese consumer market and stiff competition from rivals like Alibaba Group Holding Ltd (NYSE:BABA) and ByteDance Ltd. The company's retail employees are expected to receive pay increases averaging over 20%. JD.com has spent approximately 25.9 billion yuan on HR costs in the past quarter and has implemented discounts to boost consumer spending. The revenue growth has been modest at 1.7% in the last quarter, with expectations of a gradual recovery in the e-commerce sector.

Portfolio Pulse from Benzinga Neuro

December 28, 2023 | 8:49 am

CHRD

Chord Energy has announced the appointment of Darrin Henke as its new Executive Vice President and Chief Operating Officer, effective January 2, 2024. The current COO, Chip Rimer, is set to retire on January 12, 2024.

Portfolio Pulse from Benzinga Newsdesk

December 27, 2023 | 9:33 pm

SONY

Sony Group Corp. (NYSE:SONY) is rumored to be forming a new in-house studio with former Deviation Games employees. The speculation began after job description updates from ex-Deviation Games staff were noticed. The potential new studio could leverage the talent of industry veterans like Jason Blundell, who has a notable history with the Call of Duty series. Deviation Games recently laid off about 90 employees, and Sony is also planning layoffs at Insomniac Games after a cyberattack. The formation of the new studio is still unconfirmed but is seen as promising due to the available talent.

Portfolio Pulse from Franca Quarneti

December 27, 2023 | 5:30 pm