Streetbeat News

Labor Issues

AMZN

Amazon's logistics workers in Spain, represented by the CCOO union, are planning to strike for one hour on each shift on Cyber Monday and the following day. The strike is to demand better wages and working conditions. Cyber Monday is a significant sales day for retailers, and the strike could impact Amazon's operations. The union is also calling for improved labor safety, recognition of workplace hazards, more HR personnel, and higher wages. This follows similar concerns and actions by Amazon workers in Europe and the U.S., including a recent walkout in Britain.

Portfolio Pulse from Nabaparna Bhattacharya

November 21, 2023 | 1:10 pm

EVLO

Evelo Biosciences has undergone significant leadership changes with Simba Gill no longer serving as President, CEO, and President, and Marella Thorell stepping down as CFO, Secretary, Treasurer, Principal Financial Officer, and Principal Accounting Officer.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 12:00 pm

AMZN

Three Amazon Inc. employees have filed a lawsuit alleging gender discrimination and retaliation, claiming women are assigned lower job titles and pay than men in similar roles. The employees raised these issues in 2021, leading to an investigation. Amazon spokesperson Brad Glasser denied the allegations. The lawsuit reflects a broader pattern of gender bias claims in the tech industry, with past allegations at companies like Uber, Pinterest, Apple, and Rivian Automotive.

Portfolio Pulse from Ananya Gairola

November 21, 2023 | 11:47 am

CRM

MSFT

Over 95% of OpenAI's employees are willing to quit and follow Sam Altman to Microsoft Corp. (NASDAQ:MSFT) after his ouster. OpenAI's board is in intense discussions to address the situation, with an internal memo calling for unity. Despite the turmoil, OpenAI's leadership, including Altman, is expressing solidarity and ensuring operational continuity. Salesforce Inc. (NYSE:CRM) attempted to poach OpenAI talent but faced resistance from employees who remain committed to OpenAI's mission.

Portfolio Pulse from Rounak Jain

November 21, 2023 | 11:00 am

DKS

DICK'S Sporting Goods, Inc. (NYSE:DKS) is expected to report lower Q3 earnings at $2.45 per share compared to $2.6 per share a year ago, with revenue estimated at $2.94 billion. The company plans to hire 8,600 seasonal workers for the holidays. DKS stock rose 0.8% to $119.01 recently. Analysts have given mixed ratings and price targets, with the most accurate analysts suggesting a range from $115 to $134.

Portfolio Pulse from Lisa Levin

November 21, 2023 | 7:29 am

CRM

MSFT

Salesforce Inc. (CRM) CEO Marc Benioff has invited OpenAI researchers who have resigned to join Salesforce's Einstein Trusted AI research team, offering matching compensation. This follows Microsoft Corporation's (MSFT) move to form a new AI research team led by former OpenAI leaders Sam Altman and Greg Brockman. The invitation comes amid a potential mass exodus at OpenAI, where employees have threatened to leave unless the board is restructured and Altman and Brockman are reinstated.

Portfolio Pulse from Ananya Gairola

November 21, 2023 | 2:11 am

MSFT

OpenAI's board approached Anthropic's CEO Dario Amodei for a potential merger and to replace fired CEO Sam Altman. Amodei declined the CEO offer due to his commitment to Anthropic, which competes with OpenAI with its chatbot Claude. No serious merger discussions have been reported.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 1:41 am

MSFT

Microsoft CEO Satya Nadella emphasized the need for governance changes at OpenAI following the board's dismissal of co-founder Sam Altman as CEO. Nadella mentioned dialogue with OpenAI's board and announced that Altman and Greg Brockman would join a new Microsoft AI research group. This follows the appointment of Emmett Shear as OpenAI's interim head and a letter from OpenAI employees threatening to resign and join Microsoft's subsidiary. Investors, including Microsoft, are reportedly seeking to reverse the board's decision.

Portfolio Pulse from Benzinga Newsdesk

November 20, 2023 | 11:05 pm

COST

Janelle Schuurman, a former elementary school teacher, left her 11-year teaching career for a job at Costco Wholesale Corp (NASDAQ:COST), citing overwork, lack of support, and safety concerns as reasons for her career change. Despite the passion for teaching, the demands of the job, including long hours, large class sizes without aides, and the need to ensure student safety amidst increasing school shootings, led to her decision. At Costco, she finds better pay, benefits, and overall happiness. Schuurman's story highlights the broader issue of teacher shortages in the U.S. and the need for systemic changes in the education sector.

Portfolio Pulse from Adam Eckert

November 20, 2023 | 10:27 pm

AI

MSFT

C3.ai, Inc. (NYSE:AI) stock traded lower after a Bloomberg report indicated the company conducted job cuts last week. The cuts were attributed to performance and cost-cutting measures, with affected employees receiving one-month severance. Despite the company's statement about continuing to hire for strategic areas, the number of employees cut remains undisclosed. C3.ai's stock had initially risen nearly 7% due to developments involving OpenAI and Microsoft Corporation (NASDAQ:MSFT), but fell after the job cuts report. C3.ai shares closed down 4.36% at $28.04.

Portfolio Pulse from Erica Kollmann

November 20, 2023 | 9:26 pm