Streetbeat News

Labor Issues

SBUX

The United Steelworkers Union members at a Starbucks in Waterloo have won a favorable ruling regarding their first contract. This development is significant for labor relations at Starbucks locations.

Portfolio Pulse from Benzinga Newsdesk

October 07, 2024 | 7:00 pm

STLA

The United Auto Workers (UAW) announced that if Stellantis reopens the Belvidere Assembly and builds a parts megahub there, union members will return to work soon with minimal cost to the company.

Portfolio Pulse from Benzinga Newsdesk

October 07, 2024 | 6:59 pm

SPY

Federal Reserve's Neel Kashkari indicates that the Fed's balance sheet reduction is ongoing. He identifies underbuilding, supply chain disruptions, labor shortages, and the rise of remote work as key contributors to housing inflation.

Portfolio Pulse from Benzinga Newsdesk

October 07, 2024 | 6:31 pm

EWC

SPY

Dockworkers at the Port of Montreal plan to halt all overtime work as a pressure tactic in ongoing contract negotiations. This action follows a recent strike and aims to expedite a deal with the Maritime Employers Association.

Portfolio Pulse from Benzinga Newsdesk

October 07, 2024 | 2:34 pm

PUBM

PubMatic, an adtech company, has laid off 1% of its workforce to streamline operations and focus on growth areas such as connected-TV ads.

Portfolio Pulse from Benzinga Newsdesk

October 07, 2024 | 2:25 pm

MULN

Mullen Automotive (NASDAQ:MULN) is implementing a 20% workforce reduction and cutting monthly spending to $7.3 million to improve cash flow. The company aims to generate $75 million in revenue over six months through Mullen Commercial and Bollinger Motors sales. MULN shares fell 7.17% following the announcement.

Portfolio Pulse from Lekha Gupta

October 07, 2024 | 1:50 pm

MULN

Mullen Automotive Inc. (NASDAQ: MULN) forecasts $75 million in revenue over the next six months while cutting spending by $5.5 million through job reductions and program eliminations. The company aims to streamline operations and focus on commercial revenue growth.

Portfolio Pulse from Benzinga Newsdesk

October 07, 2024 | 10:05 am

TSLA

Tesla's supercharger network growth slowed in Q3 2023, with 2,800 new stalls added, marking a 23% year-on-year increase but only a 4.7% quarter-on-quarter growth. This slowdown follows layoffs affecting the supercharging team. Despite this, Tesla plans to invest $500 million in network expansion this year.

Portfolio Pulse from Anan Ashraf

October 07, 2024 | 5:56 am

AAPL

AMZN

MCHI

NVDA

SAVE

Benzinga's recent analysis highlights key bullish and bearish trends for popular stocks. Nvidia's new GPU platform is in high demand, while Apple faces a potential demand correction for its iPhone 16 Pro. Amazon deals with employee dissatisfaction over return-to-office policies, and Spirit Airlines is in bankruptcy talks. Chinese tech stocks, represented by the iShares MSCI China ETF, continue to gain due to domestic stimulus efforts.

Portfolio Pulse from Michael Cohen

October 05, 2024 | 1:30 pm

NXST

Nexstar Media Group has eliminated the position of Executive Vice President & Chief Revenue Officer, held by Michael Strober, as per an SEC filing on September 30.

Portfolio Pulse from Benzinga Newsdesk

October 04, 2024 | 8:36 pm