Streetbeat News

Labor Issues

AMZN

GM

GOOG

GOOGL

Several labor groups have urged the U.S. Department of Transportation and the National Highway Traffic Safety Administration to investigate automated vehicle operators including Waymo, Zoox, and Beep, citing safety concerns. This follows a recent investigation into General Motors' autonomous driving unit, Cruise. The labor groups, including United Auto Workers, have also called for updated policies for autonomous vehicles. The companies mentioned in the letter include Alphabet's Waymo and Amazon's Zoox.

Portfolio Pulse from Anan Ashraf

November 10, 2023 | 4:08 am

U

Unity Software has announced plans to implement a restructuring strategy within this quarter, which is expected to be completed by the end of Q1 2024. The plan may include discontinuing certain product offerings, reducing the workforce, and downsizing the office footprint.

Portfolio Pulse from Benzinga Newsdesk

November 09, 2023 | 10:21 pm

WBA

Walgreens' Chief Medical Officer (CMO) is reportedly leaving the company, according to a Bloomberg report citing an internal memo. The company is also cutting 267 corporate roles as part of its restructuring efforts.

Portfolio Pulse from Benzinga Newsdesk

November 09, 2023 | 10:07 pm

TWOU

2U has announced a 12% reduction in its headcount during Q3, which is expected to result in an annualized cost savings of $55M. The company believes these initiatives, along with a focus on operational efficiency, will improve adjusted EBITDA and free cash flow.

Portfolio Pulse from Benzinga Newsdesk

November 09, 2023 | 9:13 pm

ATVI

EA

SONY

TTWO

WBD

Take-Two Interactive Software Inc's CEO, Strauss Zelnick, expressed optimism about the ongoing negotiations with SAG-AFTRA video game actors, which could potentially impact the release of Grand Theft Auto (GTA) 6. Zelnick assured that Take-Two is 'completely protected' if the negotiations do not result in a favorable agreement. The potential strike could also affect other major gaming companies like Activision Blizzard, Electronic Arts, Sony Group Corp.'s Insomniac, and Warner Bros. Discovery's WB Games. Zelnick also noted that cost-cutting measures implemented earlier in the year exceeded targets, and the company is now in growth mode.

Portfolio Pulse from Franca Quarneti

November 09, 2023 | 8:25 pm

FXI

SPY

President Biden has suggested that companies transitioning to new technologies should retool, reboot, and rehire at the same factories. This statement could potentially impact companies and ETFs that are in the process of technological transition.

Portfolio Pulse from Benzinga Newsdesk

November 09, 2023 | 7:13 pm

F

GM

STLA

TM

TSLA

President Biden has stated that Toyota was compelled to increase wages due to a UAW deal with the Big Three automakers. He expressed his desire for all autoworkers to benefit from such deals.

Portfolio Pulse from Benzinga Newsdesk

November 09, 2023 | 7:05 pm

HE

Hawaiian Electric Industries (HEI) has announced that its CFO, Ito, will become the CFO of Hawaiian Electric (HE) until approximately December 31, 2024. This follows the planned retirement of Tayne Sekimura.

Portfolio Pulse from Benzinga Newsdesk

November 09, 2023 | 6:48 pm

EXPI

eXp World's Chief Financial Officer, Jeff Whiteside, is stepping down from his position. This news has led to a decrease in the company's share price.

Portfolio Pulse from Benzinga Newsdesk

November 09, 2023 | 4:40 pm

AAL

On November 9, passenger service workers at American Airlines, who are members of the Communications Workers of America–International Brotherhood of Teamsters Association, will hold an informational picket at Phoenix Sky Harbor Airport.

Portfolio Pulse from Benzinga Newsdesk

November 09, 2023 | 4:03 pm