Streetbeat News

Labor Issues

SPY

Fed's Bostic is open to a half-percentage-point rate cut if the labor market weakens unexpectedly. He expects an orderly easing with slowing inflation and a stable job market. Bostic is cautious about inflation due to the core PCE price index at 2.7% and will monitor jobs data closely.

Portfolio Pulse from Benzinga Newsdesk

September 30, 2024 | 4:25 pm

BDRY

XTN

A potential strike by the International Longshoremen's Association (ILA) could freeze activity at major U.S. ports, impacting billions of dollars worth of goods and complicating holiday shopping. The strike could cost the economy $1 billion a day, with President Biden choosing not to intervene. The standoff involves demands for a significant pay raise and concerns over labor-saving technology. ETFs like Breakwave Dry Bulk Shipping ETF (BDRY) and SPDR S&P Transportation ETF (XTN) could be affected.

Portfolio Pulse from Anthony Noto

September 30, 2024 | 4:04 pm

AMZN

Amazon faces employee dissatisfaction over a new full-time return-to-office policy, with 73% of surveyed employees considering quitting. The policy, announced by CEO Andy Jassy, aims to streamline operations but has led to morale issues, especially among parents. The policy is not uniformly applied across subsidiaries, causing further discontent.

Portfolio Pulse from Kaustubh Bagalkote

September 30, 2024 | 8:31 am

SPY

The U.S. market has surged following a Federal Reserve rate cut, with the S&P 500 and Dow Jones Industrial Average reaching new highs. However, a chartist warns of a potential sell-off due to a divergence between the Dow Industrials and Dow Transportation averages, a classic sell signal. Additionally, a looming dock workers' strike could disrupt supply chains and impact the economy.

Portfolio Pulse from Shanthi Rexaline

September 30, 2024 | 8:22 am

AMZN

Amazon drivers at the DBK4 facility in New York have joined the Teamsters Union, marking a significant development in labor relations for the company.

Portfolio Pulse from Benzinga Newsdesk

September 27, 2024 | 5:21 pm

CNI

Unifor has filed a notice of dispute with Canadian National Railway (CNI) early in negotiations, representing 3,300 employees across three collective agreements expiring on December 31, 2024. CNI expressed disappointment over the early filing but remains committed to reaching negotiated agreements with the union.

Portfolio Pulse from Benzinga Newsdesk

September 27, 2024 | 5:17 pm

BLNK

WBAT

Blink Charging Co. (NASDAQ:BLNK) shares rose after surpassing 100,000 EV chargers sold, deployed, or contracted globally. The company attributes this success to its turnkey model and maintenance programs. Blink plans to lay off 14% of its workforce to cut costs. The stock has a 1-year price target of $5.12, with no bearish analyst recommendations.

Portfolio Pulse from Lekha Gupta

September 27, 2024 | 4:55 pm

SPY

The Biden administration is actively engaging with the USMX and union representatives to prevent a potential port strike. Officials emphasize the importance of continued negotiations between the union and employers.

Portfolio Pulse from Benzinga Newsdesk

September 27, 2024 | 4:47 pm

SSP

Scripps shares rose following the announcement of over 200 job cuts and a reduction in national news programming.

Portfolio Pulse from Benzinga Newsdesk

September 27, 2024 | 4:30 pm

SSP

Scripps News is set to cut over 200 jobs and reduce its national news programming due to challenges in the linear TV advertising market. This move reflects broader industry struggles with declining ad revenues.

Portfolio Pulse from Benzinga Newsdesk

September 27, 2024 | 3:32 pm