Streetbeat News

Labor Issues

STLA

Stellantis has announced the cancellation of its CES 2024 display and presentations due to the ongoing UAW strike. The move is part of the company's contingency plan.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2023 | 5:04 pm

STRM

Streamline Health Solutions Inc (STRM) shares are trading higher by 16% after the company announced a strategic restructuring plan to reduce expenses. The restructuring includes a 24% workforce reduction, resulting in a one-time cost of $0.8 to $1.2 million, expected to yield annual cost savings of about $5.8 million. The company also received a termination notice from a legacy client, which accelerated their restructuring plans. As a result, previous guidance has been suspended.

Portfolio Pulse from Henry Khederian

October 17, 2023 | 3:46 pm

MGM

MGM Grand Detroit has announced its intention to continue operating its business during any potential strike and will remain open this week and beyond.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2023 | 3:45 pm

VZ

Verizon Communications Inc plans to hire 1,800 additional technicians to support its broadband expansion across the East Coast. Many of the positions will be in areas where Verizon is expanding internet service in rural and underserved communities, with funding partly provided by the American Rescue Plan. The company aims to fill these positions by July 2026. In July, Verizon reported a sales decline of 3.5% year-on-year to $32.6 billion, missing the consensus of $33.3 billion.

Portfolio Pulse from Anusuya Lahiri

October 17, 2023 | 3:40 pm

MSFT

Microsoft Corp is seeking a Hardware Automation Team Manager with expertise in robotics to enhance the automation of its data center operations. This follows a recent outage at the company's Australia facility due to inadequate staffing and automation failures. The new role will focus on data center operations automation, ensuring enhanced safety and efficiency. Microsoft's initiative is part of a broader trend in the tech industry, with other companies also exploring robotic automation for data center operations.

Portfolio Pulse from Anusuya Lahiri

October 17, 2023 | 3:00 pm

SPY

Federal Reserve's Barkin stated that wage pressures remain but have moderated overall. He also mentioned that anecdotal information points to better labor demand and slowing growth. Barkin believes the economy is moving in the right direction on lowering inflation, but is still seeking confirmation that the economy is slowing.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2023 | 2:47 pm

STLA

Unifor's Stellantis bargaining committees are set to meet on Tuesday to prepare for upcoming negotiations with the third and final D3 automaker, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2023 | 2:13 pm

VZ

Verizon is hiring 1,800 additional technicians to support its broadband expansion across the East Coast. The roles will focus on building, maintaining, and installing Fios home internet in several states. Many positions will be based in areas where Verizon is expanding internet service in rural and underserved communities, with funding partly provided by the American Rescue Plan. All roles are expected to be filled by July 2026.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2023 | 1:43 pm

AAPL

BTCUSD

TSLA

The article covers a range of topics including US politics, world politics, Israel-Hamas conflict, tech, electric vehicles, consumer, communication, and space. Key highlights include Tesla's recall of nearly 55,000 Model X, a crypto whale losing $49K in 10 minutes due to Bitcoin ETF rumors, and Biden's planned visit to Israel. Other notable mentions include Apple's resilience in the global smartphone market, Rolls-Royce's plan to cut up to 2,500 jobs, and Netflix's intensified foray into gaming.

Portfolio Pulse from Akanksha Bakshi

October 17, 2023 | 12:37 pm

BAC

Bank of America's CFO has stated that the slowing pattern in consumer spending is expected to continue. The bank also anticipates that its headcount will remain flat from this point onwards. However, deposits are performing better than the bank expected.

Portfolio Pulse from Charles Gross

October 17, 2023 | 11:51 am