Streetbeat News

Labor Issues

SPY

The USA's initial jobless claims have risen to 258,000, surpassing the estimated 231,000 and the previous 225,000. This increase in jobless claims may indicate a weakening labor market.

Portfolio Pulse from Benzinga Newsdesk

October 10, 2024 | 12:30 pm

AMZN

SPOT

Spotify Technology SA is maintaining its work-from-anywhere policy, diverging from companies like Amazon that are enforcing return-to-office mandates. This approach has reduced employee attrition and increased diversity at Spotify.

Portfolio Pulse from Benzinga Neuro

October 10, 2024 | 10:01 am

BANC

Banc of California announced that John Sotoodeh, its Executive Vice President and COO, will leave the company effective November 7 to pursue other opportunities.

Portfolio Pulse from Benzinga Newsdesk

October 09, 2024 | 8:25 pm

BA

Boeing's union negotiations have seen some improvements, particularly in performance bonus guarantees, but not in critical areas. The union remains focused on picket lines, indicating a prolonged strike.

Portfolio Pulse from Benzinga Newsdesk

October 09, 2024 | 8:02 pm

STLA

Stellantis is involved in legal disputes with the United Auto Workers (UAW) over strike threats. The UAW has indicated that a strike at one or more Stellantis facilities could commence within weeks.

Portfolio Pulse from Benzinga Newsdesk

October 09, 2024 | 7:40 pm

BA

GCAD

PPA

Boeing's October aircraft deliveries are expected to decline significantly due to an ongoing strike, affecting production of key models. Despite delivering 33 aircraft in September, the strike has led to a reduced delivery forecast for the year. The focus is on resolving the strike and managing cash flow. Boeing's stock is under selling pressure, with a price target of $220. Investors can also consider aerospace ETFs like GCAD and PPA for exposure.

Portfolio Pulse from Lekha Gupta

October 09, 2024 | 5:53 pm

BA

Boeing's shares are trading lower due to potential credit downgrades from S&P Global and Moody’s, driven by a machinist union strike and financial complications. The strike, now in its fourth week, is costing Boeing over $1 billion monthly and threatens production goals. Additionally, the FAA has issued a warning about a potential rudder system malfunction in Boeing 737 planes, adding to safety concerns. Despite these challenges, some investment firms maintain buy ratings on Boeing, while others are more cautious.

Portfolio Pulse from Vaishali Prayag

October 09, 2024 | 5:52 pm

MSOS

Glass House Brands' co-founder, Graham Farrar, highlights the company's vertical integration and significant labor reduction in retail operations. This could impact the cannabis sector, including ETFs like MSOS.

Portfolio Pulse from Benzinga Newsdesk

October 09, 2024 | 4:58 pm

MSOS

Glass House Brands is implementing advanced technologies like RFID tracking and AI-based photo optical sorters to improve labor efficiency and accuracy. This approach has allowed them to eliminate six full-time positions while enhancing reporting capabilities.

Portfolio Pulse from Benzinga Newsdesk

October 09, 2024 | 4:49 pm

GTBIF

MSOS

Wendy A. Berger, CEO & Founder of Wbs Equities, highlights that consumers are seeking brands with resonant stories. The cannabis industry is experiencing a high turnover rate of over 50% among bud tenders.

Portfolio Pulse from Benzinga Newsdesk

October 09, 2024 | 4:36 pm