Streetbeat News

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President Joe Biden is reportedly set to sign an executive order that will shape how federal agencies use artificial intelligence (AI). The order will mandate AI developers to disclose their training and testing methodologies to federal entities. It will also address labor and discrimination issues, misuse of AI in developing biological weapons, and enhance privacy and safety. The order will impact tech giants like Microsoft Corp (NASDAQ:MSFT), Amazon.com Inc (NASDAQ:AMZN), Meta Platforms, Inc. (NASDAQ:META), and Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL).

Portfolio Pulse from Nabaparna Bhattacharya

October 28, 2023 | 9:12 pm

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GM

STLA

Stellantis (NYSE:STLA) and the United Auto Workers (UAW) union have reached a tentative agreement, ending nearly six weeks of labor strikes. The agreement follows a similar one reached between the UAW and Ford Motor (NYSE:F) earlier in the week. The strikes have cost GM, Ford, and Stellantis billions in lost production. The cost increase for the companies due to the labor deals is not immediately clear, but Deutsche Bank estimates Ford's overall cost increase to be $6.2 billion, $7.2 billion at GM, and $6.4 billion at Stellantis.

Portfolio Pulse from Benzinga Neuro

October 28, 2023 | 5:31 pm

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GM

STLA

Stellantis (NYSE:STLA) and the United Auto Workers (UAW) union have reached a tentative agreement, ending nearly six weeks of labor strikes. The agreement follows a similar one reached between the UAW and Ford Motor (NYSE:F) earlier in the week. The strikes have cost GM, Ford, and Stellantis billions in lost production. The cost increase for the companies due to the labor deals is not immediately clear, but Deutsche Bank estimates Ford's overall cost increase to be $6.2 billion, $7.2 billion at GM, and $6.4 billion at Stellantis.

Portfolio Pulse from Benzinga Neuro

October 28, 2023 | 5:31 pm

AMC

CNK

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Walt Disney Co (NYSE:DIS) has announced further delays to its movie releases due to the ongoing Hollywood Strike, which could put more pressure on the company's other business lines. The company's shares have fallen significantly in the last year and are trading at decade lows. The delays include the live-action 'Snow White' movie and 'Elio', a film from Pixar studio. The company also removed 'Magazine Dreams' from the calendar due to the film's star's legal troubles. Paramount Global (NASDAQ:PARA)(NASDAQ:PARAA) also announced a delay for the next 'Mission: Impossible' movie. The delays could impact movie theater companies like Cinemark Holdings, Inc. (NYSE:CNK) and AMC Entertainment Holdings (NYSE:AMC).

Portfolio Pulse from Chris Katje

October 27, 2023 | 8:32 pm

RIVN

Rivian has announced a new apprenticeship program to support its future manufacturing plant in Stanton Springs North, Georgia. The program will recruit an initial group for a 24-month training period, with tuition covered by Georgia's HOPE Grants and additional expenses paid by Rivian. The apprentices will be paid employees of Rivian and will relocate to the Georgia plant upon completion of the program. The Stanton Springs North site is expected to employ 7,500 people by 2030.

Portfolio Pulse from Happy Mohamed

October 27, 2023 | 8:17 pm

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GM

General Motors Co. (GM) has agreed to provide a 25% wage increase to United Auto Workers members in ongoing contract talks, matching Ford Motor Co.'s offer to end a six-week strike. The proposal also includes cost-of-living increases over the contract period. The full contract has not been finalized yet, with details still being discussed.

Portfolio Pulse from Benzinga Newsdesk

October 27, 2023 | 8:00 pm

F

GM

General Motors (GM) and the United Auto Workers union are reportedly nearing a deal, potentially ending the costly work stoppages that have affected GM since September 15. The deal is expected to significantly increase GM's labor costs, with Deutsche Bank estimating the overall cost increase to be $7.2 billion over the term of the agreement. GM shares are currently down 4.8% at $27.18.

Portfolio Pulse from Erica Kollmann

October 27, 2023 | 7:59 pm

GM

General Motors (GM) and the United Auto Workers (UAW) union are reportedly moving closer to a tentative labor contract. This comes after a prolonged period of negotiations and strikes that have significantly impacted GM's operations.

Portfolio Pulse from Benzinga Newsdesk

October 27, 2023 | 6:42 pm

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United States Steel Corporation has announced that the UAW strike is expected to reduce shipment volumes for its North American flat-rolled segment in Q4.

Portfolio Pulse from Benzinga Newsdesk

October 27, 2023 | 4:52 pm

VWAGY

Volkswagen AG (OTC: VWAGY) is reportedly planning a significant workforce reduction at its software division, Cariad, as part of a broader restructuring strategy. The company's board has approved the strategy, aiming to initiate the reductions from 2024. The CEO of Cariad, Peter Bosch, has spearheaded a wide-ranging overhaul for reorienting Cariad's direction since mid-year. The final blueprint for the revamp is still in the works.

Portfolio Pulse from Shivani Kumaresan

October 27, 2023 | 4:49 pm