Streetbeat News

Labor Issues

LAZR

Luminar Technologies shares rose following the announcement of further actions in its 2024 restructuring plan, which includes a 30% reduction in its full-time workforce.

Portfolio Pulse from Benzinga Newsdesk

September 24, 2024 | 7:47 pm

VRT

Vertiv is expanding its North American production by opening a new 215,000 sq. ft. facility in South Carolina. This expansion aims to meet the growing demand for critical digital infrastructure solutions and will create up to 300 jobs.

Portfolio Pulse from Benzinga Newsdesk

September 24, 2024 | 7:31 pm

BA

Boeing has reached out to the union to provide more time and logistical support for an upcoming vote. This move indicates Boeing's willingness to collaborate with the union, potentially easing labor tensions.

Portfolio Pulse from Benzinga Newsdesk

September 24, 2024 | 7:08 pm

BA

Boeing is facing significant challenges in 2024, including union strikes, safety concerns, and competition from SpaceX. Over 30,000 Boeing employees are on strike, affecting operations and potentially benefiting SpaceX in future space contracts. Boeing's Starliner mission faced issues, leaving astronauts stranded, while SpaceX's Dragon capsule will bring them back. These setbacks may impact Boeing's ability to secure future contracts with NASA and other agencies.

Portfolio Pulse from Chris Katje

September 24, 2024 | 7:01 pm

TXT

The existing contract between IAM workers and Textron expired on September 22, which could lead to potential labor disputes or negotiations affecting Textron's operations.

Portfolio Pulse from Benzinga Newsdesk

September 24, 2024 | 6:37 pm

AMZN

AVGO

F

GM

L

QCOM

STLA

TSM

WMT

China's exports to the U.S. face potential disruptions due to anticipated U.S. port strikes, typhoons in China, and the Golden Week holiday. These events could impact various U.S. sectors, including retail, automotive, and semiconductors, as they rely heavily on Chinese imports.

Portfolio Pulse from Michael Juliano

September 24, 2024 | 6:28 pm

AAPL

Apple retail workers in Oklahoma City have successfully negotiated their first collective contract with the Communications Workers of America (CWA). This marks a significant step in labor relations for Apple, as it is the first such agreement for the company's retail employees.

Portfolio Pulse from Benzinga Newsdesk

September 24, 2024 | 6:20 pm

PARA

Paramount Global is laying off 469 employees, as indicated by a WARN notice. This move is part of the company's ongoing efforts to streamline operations and reduce costs.

Portfolio Pulse from Benzinga Newsdesk

September 24, 2024 | 6:13 pm

BWA

BorgWarner and the Teamsters union have reached an agreement, ending a strike. This resolution is likely to stabilize operations and potentially improve investor sentiment towards BorgWarner.

Portfolio Pulse from Benzinga Newsdesk

September 24, 2024 | 6:11 pm

NTES

SkyBox Labs, owned by NetEase, has laid off 25 employees due to economic challenges in the gaming industry. Despite being backed by NetEase, SkyBox faces rising production costs and increased competition. The layoffs highlight broader industry pressures.

Portfolio Pulse from Franca Quarneti

September 24, 2024 | 6:03 pm