Streetbeat News

Labor Issues

X

The United Steelworkers Union has stated that neither U.S. Steel nor Nippon has contacted the union concerning their deal, according to Reuters. This could raise concerns about labor relations and the impact of the deal on union members.

Portfolio Pulse from Happy Mohamed

December 18, 2023 | 2:42 pm

X

The United Steelworkers Union has expressed its opposition to Nippon's plans to acquire U.S. Steel. The union will urge government regulators to thoroughly examine the proposed acquisition, as reported by Reuters citing a statement from the union.

Portfolio Pulse from Benzinga Newsdesk

December 18, 2023 | 2:07 pm

C

GBCI

SHW

On CNBC's 'Halftime Report Final Trades,' Brian Belski of BMO Capital Markets recommended Glacier Bancorp (GBCI), which was maintained with a Hold rating and had its price target raised by Truist Securities. Jim Lebenthal chose Citigroup (C), which is expected to cut 10% of its senior staff. Stephanie Link selected Sherwin-Williams (SHW), which was maintained with a Buy rating and had its price target increased by Goldman Sachs. GBCI shares rose 1.4%, C shares fell 0.8%, and SHW shares gained 1% in the last trading session.

Portfolio Pulse from Avi Kapoor

December 18, 2023 | 1:38 pm

OGI

Organigram Holdings has appointed Greg Guyatt as the new Chief Financial Officer, with his tenure beginning on January 8, 2024.

Portfolio Pulse from Benzinga Newsdesk

December 18, 2023 | 11:01 am

QCOM

SFTBY

Arm Holdings Plc has laid off over 70 software engineers in China, reflecting the semiconductor industry's downturn. The layoffs at Arm, which is backed by SoftBank Group Corp., are part of a broader trend as companies like Qualcomm Inc. have also reduced their workforce. Arm's global sales share from China has decreased from 25% to 20%, and the company faces challenges from U.S. technology export restrictions to Chinese firms. Arm is also dealing with disputes with the former head of Arm China, which previously laid off over 100 employees.

Portfolio Pulse from Benzinga Neuro

December 18, 2023 | 11:00 am

IPHA

Innate Pharma has announced that CEO Mondher Mahjoubi will depart in January 2024 to join a large pharmaceutical company. Co-founder Hervé Brailly will serve as interim CEO, while Irina Staatz-Granzer will become Chairwoman of the Supervisory Board.

Portfolio Pulse from Benzinga Newsdesk

December 18, 2023 | 7:10 am

TSLA

Tesla, Inc. (NASDAQ:TSLA) is facing a labor union strike in Scandinavia that started in Sweden and has spread to Denmark, Finland, and Norway. The strike began with 130 mechanics and has escalated as transporters refuse to deliver vehicles and license plates, and unions pledge not to unload or transport Tesla vehicles. Wedbush analyst Daniel Ives views the standoff as a critical issue that could have global ramifications for Tesla's relationship with unions, particularly with the UAW in the U.S. Ives maintains an 'Outperform' rating and a $310 price target for Tesla stock.

Portfolio Pulse from Shanthi Rexaline

December 17, 2023 | 7:50 pm

BUD

Anheuser-Busch InBev's (NYSE:BUD) union workers are prepared to strike if a new contract isn't reached by the end of February. The Teamsters union, representing 5,000 AB InBev workers, demands higher wages, better health and retirement benefits, and job security. Negotiations have been delayed on key issues, with 99% of union members voting in favor of a strike. The company has expressed a commitment to negotiate in good faith, but no further negotiation dates are set.

Portfolio Pulse from Benzinga Neuro

December 17, 2023 | 2:48 pm

VTRS

Viatris Inc. (NASDAQ:VTRS) has announced the appointment of Theodora 'Doretta' Mistras as CFO effective March 1, 2024, and Philippe Martin as Chief R&D Officer effective immediately. Mistras brings extensive experience from Citigroup and Goldman Sachs, while Martin has a strong background from Celgene and Schering-Plough. Current CFO Sanjeev Narula will assist in the transition until his departure. The appointments are part of Viatris' strategic plan as it enters Phase 2, aiming for expanded growth and enhanced shareholder value.

Portfolio Pulse from Benzinga Newsdesk

December 16, 2023 | 11:31 pm

SPY

Austan Goolsbee of the Chicago Fed suggests that the Federal Reserve may need to shift its focus towards employment rather than just inflation. This change in focus could imply a less aggressive stance on interest rate hikes, which have been used to combat high inflation but also have the potential to increase unemployment.

Portfolio Pulse from Benzinga Newsdesk

December 15, 2023 | 6:54 pm