Streetbeat News

Labor Issues

F

Ford Motor Company (NYSE:F) has announced a series of organizational changes as part of its Ford+ growth plan. Kumar Galhotra, former head of Ford Blue, becomes COO and will lead Ford's global industrial system. Doug Field continues as chief EV digital and design officer. The changes aim to improve financial performance and investments in disruptive technologies. The announcement follows a warning from Bill Ford about the potential impact of the ongoing strike on the American automotive industry. Ford shares are trading lower by 1.70% to $11.84.

Portfolio Pulse from Nabaparna Bhattacharya

October 18, 2023 | 4:30 pm

IP

International Paper has announced that approximately 900 positions will be impacted. The specifics of the impact are not detailed in the news.

Portfolio Pulse from Benzinga Newsdesk

October 18, 2023 | 1:21 pm

COST

CVS

MDLZ

SHEL

On CNBC's 'Halftime Report Final Trades', Brenda Vingiello of Sand Hill Global Advisors praised Mondelez International's organic growth. Analysts from Exane BNP Paribas and BofA Securities have upgraded and maintained the stock respectively, though the latter lowered the price target. CVS Health Corporation was named as a final trade by Jim Lebenthal of Cerity Partners, despite reports of a planned nationwide walkout by pharmacy staff. Amy Raskin of Chevy Chase Trust highlighted Shell's cheap stock and nice dividend, and the company's expanded collaboration with C3.ai. Joseph Terranova of Virtus Investment Partners mentioned Costco Wholesale Corporation, which is facing legal action over sharing sensitive customer information.

Portfolio Pulse from Lisa Levin

October 18, 2023 | 12:20 pm

F

Ford has announced a series of organizational changes as part of its Ford+ Growth Plan. Kumar Galhotra will lead Ford's global industrial system as COO, overseeing vehicle hardware engineering, gas and hybrid programs, cycle planning, supply chain, and manufacturing. Doug Field will continue to oversee worldwide electric vehicle programs, development of EV technologies and digital platforms, and Ford's design studios. Andrew Frick will become president of Ford Blue, the customer-centered gas and hybrid business.

Portfolio Pulse from Benzinga Newsdesk

October 18, 2023 | 12:04 pm

STLA

Canadian workers union Unifor has set a deadline of Oct. 29 for a strike unless Stellantis NV (NYSE:STLA) agrees to follow the pattern agreement the union has already set with Ford of Canada and General Motors. The union represents over 8,200 workers at Stellantis across various plants and distribution centres. The union has already managed to ratify new agreements with Ford and GM.

Portfolio Pulse from Anan Ashraf

October 18, 2023 | 3:54 am

RAVE

Rave Restaurant Group's COO, Michael Burns, has announced his resignation effective from October 27, 2023, according to a recent filing.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2023 | 9:10 pm

CVX

Australia's Offshore Alliance announced that its members have voted 94% in support of an in-principle agreement to suspend protected industrial action on a deal with Chevron (CVX).

Portfolio Pulse from Charles Gross

October 17, 2023 | 9:09 pm

EWC

STLA

Unifor, the Canadian labor union, has announced that negotiations with Stellantis will begin tomorrow. The union has set a strike deadline for Sunday, October 29 at 11:59 P.M.

Portfolio Pulse from Charles Gross

October 17, 2023 | 8:50 pm

RBLX

Roblox Corporation has announced a new policy requiring employees to work from the office at least three days a week. Employees who do not comply with this policy are offered a severance package.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2023 | 8:40 pm

SGHT

Sight Sciences has reaffirmed its FY23 revenue guidance of $80M-$82M, which is lower than the estimated $84.99M. The company also expects to save approximately $7.9 million annually from workforce reductions. Updated expectations regarding its quarterly average adjusted operating expense guidance will be provided during its Q3 2023 earnings call.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2023 | 8:14 pm