Streetbeat News

Labor Issues

CSX

CSX Corp is closely monitoring the contract negotiations of the International Longshoremen's Association (ILA) and is proactively preparing for potential work stoppages and service disruptions at East Coast ports.

Portfolio Pulse from Benzinga Newsdesk

October 01, 2024 | 2:54 pm

SPY

The USA JOLTs Job Openings for August reported 8.040 million openings, surpassing the estimated 7.640 million and the revised prior figure of 7.711 million. This indicates a stronger labor market than anticipated.

Portfolio Pulse from Benzinga Newsdesk

October 01, 2024 | 2:00 pm

BODI

The Beachbody Company announced a restructuring plan that includes a 33% reduction in its workforce, leading to a rise in its share price.

Portfolio Pulse from Benzinga Newsdesk

October 01, 2024 | 12:23 pm

IGMS

IGMS Biosciences shares fell after the company announced a strategic shift to focus solely on autoimmunity, appointed Beth Harler as CEO, and decided to cut its workforce and reduce R&D spending on oncology projects.

Portfolio Pulse from Benzinga Newsdesk

October 01, 2024 | 11:57 am

BA

Boeing Co. (NYSE:BA) is considering raising $10 billion through a stock sale to bolster its cash reserves amid a strike by 33,000 workers. The stock dipped 1% in pre-market trading. The company is assessing the financial impact of the strike before proceeding with the sale.

Portfolio Pulse from Pooja Rajkumari

October 01, 2024 | 11:55 am

META

Meta Platforms Inc. plans to start producing its Quest VR headsets in Vietnam by 2025, creating 1,000 jobs. This move aligns with Meta's strategic initiatives in mixed reality and AI, as highlighted by CEO Mark Zuckerberg at the Meta Connect 2024 event.

Portfolio Pulse from Rounak Jain

October 01, 2024 | 10:58 am

SPY

The White House announced that President Biden and Vice President Harris are closely monitoring a strike at East Coast and Gulf Coast ports. The President has directed his Supply Chain Disruptions Task Force to meet daily to address potential disruptions.

Portfolio Pulse from Benzinga Newsdesk

October 01, 2024 | 10:25 am

BODI

Beachbody has announced a significant reduction in its workforce by approximately 33% as part of a cost-cutting strategy. The company is also broadening its distribution channels to improve its market reach.

Portfolio Pulse from Benzinga Newsdesk

September 30, 2024 | 9:16 pm

BA

Boeing shares fell after machinists rejected a labor offer, raising concerns about operational disruptions. Additionally, the NTSB issued urgent safety recommendations for Boeing 737 rudder control systems, affecting over 40 foreign operators.

Portfolio Pulse from Vaishali Prayag

September 30, 2024 | 8:47 pm

AGR

Avangrid has fully implemented its return-to-office policy, ending remote work arrangements from the COVID-19 pandemic. This has resulted in a 70% increase in office occupancy. The company has also expanded commuter benefits and committed to sustainable transportation incentives.

Portfolio Pulse from Benzinga Newsdesk

September 30, 2024 | 8:45 pm