Streetbeat News

Labor Issues

ARMK

Aramark's CFO Tom Ondrof is set to retire on January 12, 2024, and will serve as a strategic advisor until May 2024. Jim Tarangelo will take over as CFO starting January 13. Despite the transition, the company maintains a positive outlook for the fiscal year.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 9:32 pm

AREN

The Arena Group's board of directors has terminated the employment of CEO Ross Levinsohn and appointed Manoj Bhargava as the Interim CEO, effective immediately. The board aims to enhance operational efficiency and revenue.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 9:31 pm

LCID

Lucid Motors' stock (LCID) is trading lower following the announcement that CFO Sherry House is resigning to pursue other opportunities. The departure of a key executive often raises concerns about the company's financial leadership and strategy, potentially affecting investor confidence.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 9:27 pm

ACI

KR

The International Brotherhood Of Teamsters has expressed opposition to the proposed sale of Kroger or Albertsons stores to C&S Wholesale Grocers, as outlined in the divestiture plan submitted to the FTC in September 2023. The union is concerned about the potential loss of approximately 1,200 Teamster jobs following the asset transfers and is urging the FTC to reject C&S as a buyer.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 9:23 pm

OLPX

Olaplex Holdings Inc has appointed Amanda Baldwin as the new Chief Executive Officer, succeeding John P. Bilbrey who served as the interim CEO, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 9:16 pm

LCID

Lucid Motors announced the immediate resignation of CFO Sherry House, who is leaving to pursue other opportunities. Gagan Dhingra will take over as the interim CFO.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 9:10 pm

GIL

Gildan Activewear's stock is trading lower following the announcement that Glenn J. Chamandy has stepped down as President, CEO, and director. Chamandy released a statement after the company's announcement.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 7:53 pm

MSFT

Microsoft Corp (NASDAQ:MSFT) has entered into a union agreement with the Communications Workers of America, incorporating AI usage terms into its first U.S. collective bargaining contract. The contract covers staff at ZeniMax video game studio and includes Microsoft's six AI principles. The company must inform the union about AI implementations affecting workers and negotiate impacts. This is part of Microsoft's initiative to integrate AI into its products, with the company recognizing AI's potential to change job roles. Microsoft's union-friendly approach contrasts with some industry peers. Microsoft shares fell by 1.55% to $368.48.

Portfolio Pulse from Anusuya Lahiri

December 11, 2023 | 5:25 pm

AMD

GOOGL

U.S. stock markets showed mixed results with slight gains in major indexes. Nonfarm payrolls exceeded expectations, lowering unemployment to 3.7%. Consumer sentiment hit a high due to lower inflation concerns. European markets grew, anticipating central bank rate cuts. ECB officials hinted at possible rate reductions in 2024. German economic indicators were weak, while the UK construction sector struggled. Asian markets fell, with Japan's Nikkei and China's Shanghai Composite declining. Moody's downgraded China's outlook to negative. Alphabet and AMD stocks rose on AI developments. U.S. Treasury yields increased, while commodities like gold and oil closed lower.

Portfolio Pulse from Xclusive Trading

December 11, 2023 | 4:54 pm

HON

Members of IAM Local 778 in Kansas City have voted to reject a tentative contract agreement with Honeywell Federal Manufacturing & Technologies. The decision was made by approximately 1,900 members on Sunday, indicating potential labor issues at the Kansas City facility.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 4:19 pm