Streetbeat News

Labor Issues

SYRS

Syros Pharmaceuticals (NASDAQ:SYRS) announced a strategic realignment and CEO transition. Conley Chee, CCO and CBO, will succeed Nancy Simonian as CEO, effective December 1, 2023. The company plans a workforce reduction of approximately 35% to focus on late-stage development of tamibarotene in MDS and AML. Syros will stop further investment in SY-2101 due to capital constraints. The company is preparing to report initial data from SELECT-AML-1 later this year and pivotal data from SELECT-MDS-1 next year.

Portfolio Pulse from Benzinga Newsdesk

October 02, 2023 | 12:49 pm

WMT

Walmart Inc plans to refine the designation system for its corporate staff roles to stay competitive in the evolving corporate landscape. The changes will not affect roles, responsibilities, type of work, and base pay. The reshuffle, scheduled to begin in November, may bring variations in compensation for some. About 4% of the staff will see a reduction in stock-option awards to ensure compensation is aligned across geographies. Staff seeing reduced stock options will receive a stock grant to account for the change.

Portfolio Pulse from Shivani Kumaresan

October 02, 2023 | 10:19 am

EXLS

EXL, a data analytics and digital operations company, is expanding its operations into Dublin, establishing a headquarters for international business. The company plans to hire up to 200 AI and data engineers over the next three years. As part of its expansion, EXL has announced a collaboration with University College Dublin and the Center for Applied AI, facilitated by the Irish government's Human Capital Initiative.

Portfolio Pulse from Benzinga Newsdesk

October 02, 2023 | 7:14 am

EFXT

Enerflex has announced the resignation of its CFO, Rodney D. Gray. The company has begun the search for his replacement.

Portfolio Pulse from Benzinga Newsdesk

October 02, 2023 | 7:09 am

VLVLY

Mack Trucks, owned by Volvo Group (OTC:VLVLY), and the United Auto Workers (UAW) union have reached a tentative agreement, potentially ending a strike that has been ongoing for three weeks. The agreement is currently under review by the union members.

Portfolio Pulse from Anan Ashraf

October 02, 2023 | 5:07 am

DKNG

MGM

PENN

Workers at Detroit's casinos, including MGM Resorts International's MGM Grand Detroit and PENN Entertainment, Inc.'s Hollywood at Greektown, have authorized a potential strike that could disrupt the city's gaming sector. The strike, backed by the United Auto Workers (UAW) and Teamsters, could mobilize over 3,500 workers to halt operations as early as mid-October. This comes amid escalating labor movements nationwide and could impact the operations of casino conglomerates like MGM Resorts and PENN Entertainment.

Portfolio Pulse from Nabaparna Bhattacharya

September 30, 2023 | 8:49 pm

BP

SD

BP Plc's top executive Dave Lawler is stepping down, marking another high-profile departure from the oil giant following the recent resignation of global chief executive Bernard Looney. Orlando Alvarez will reportedly succeed Lawler as the head of BP America. BP shares closed lower by 1.8% to $38.72 on Friday.

Portfolio Pulse from Nabaparna Bhattacharya

September 30, 2023 | 8:37 pm

CGC

CMCSA

F

GM

META

TSLA

USO

Benzinga's weekly review highlights both bullish and bearish prospects for several stocks. Bullish prospects include Meta Platforms Inc.'s new AI Smart Glasses, potential market strategies in the U.S. cannabis industry by Canopy Growth Corp., SNDL Inc., and Village Farms International Inc., and a potential surge in oil prices impacting the United States Oil Fund. Bearish prospects include a potential treason investigation into Comcast Corp., mixed reactions to Tesla Inc.'s Cybertruck, and escalating strikes against General Motors Co. and Ford Motor Co. by the United Auto Workers union.

Portfolio Pulse from Michael Cohen

September 30, 2023 | 1:06 pm

GOOG

GOOGL

META

Meta Platforms Inc.'s return-to-office mandate has faced several challenges including space shortages for meetings and issues with hot-desking. Employees are required to be in the office for at least three days a week, with non-compliance risking termination. The approval process for permanent remote work applications is slow. Despite these issues, employees are not resigning en masse.

Portfolio Pulse from Ananya Gairola

September 30, 2023 | 5:09 am

TSLA

Tesla CEO Elon Musk has commented on the backlash he receives from the United Auto Workers (UAW) union and U.S. President Joe Biden. Musk's supporters have accused the Biden administration of not supporting his ventures. Musk has criticized Biden for supporting the UAW protest and not addressing immigration issues. UAW President Shawn Fain has criticized Musk for his stance against unionization.

Portfolio Pulse from Anan Ashraf

September 30, 2023 | 3:51 am