Streetbeat News

Labor Issues

META

Meta Platforms, Inc. (NASDAQ:META) has implemented a new mandate requiring employees to return to the office for three days a week. The decision comes after an internal analysis showed that in-person engineers are more productive. The company's shares traded higher on Tuesday, closing 1.27% up at $300.15.

Portfolio Pulse from Ryan Gustafson

September 05, 2023 | 9:25 pm

SFT

Shift Technologies is planning a restructuring that will result in an estimated workforce reduction of 25%. The company expects this move to result in total annualized cost savings of up to $23 million. The previously announced review of strategic alternatives remains ongoing.

Portfolio Pulse from Benzinga Newsdesk

September 05, 2023 | 9:08 pm

PAHC

Phibro Animal Health's CFO, Damian Finio, has announced his resignation effective September 29, 2023. Richard G. Johnson has been named as the interim CFO.

Portfolio Pulse from Benzinga Newsdesk

September 05, 2023 | 8:57 pm

CCCC

C4 Therapeutics has announced the appointment of Kendra Adams as CFO, effective from September 18, 2023. The current CFO, Lauren White, will be leaving the company to pursue a new role with a commercial-stage pharmaceutical company.

Portfolio Pulse from Benzinga Newsdesk

September 05, 2023 | 8:02 pm

AMCX

NFLX

SONY

Aaron Paul, star of the series 'Breaking Bad', revealed that he received no compensation from Netflix for the show's streaming success. The series, originally from Sony Group Corp and aired on AMC, a unit of AMC Networks Inc, was acquired by Netflix after its third season. This revelation comes amid an ongoing double strike in Hollywood, with writers and actors demanding fair wages from streaming services and media companies. Netflix ended Q2 with 238.39 million global paid subscribers.

Portfolio Pulse from Chris Katje

September 05, 2023 | 5:20 pm

AAPL

AMD

QQQ

SPY

TSLA

The article discusses the latest U.S. nonfarm payrolls report, which showed an increase in the unemployment rate to 3.8% in August, higher than expected. Average hourly earnings also increased less than expected. Despite this, payrolls grew at a faster-than-expected pace. The number of job openings decreased in July, as did quits and layoffs. The article also discusses the performance of the SPDR S&P 500 (NASDAQ:SPY), predicting that the lows experienced on August 18 were the bottom. The article also mentions the performance of Invesco QQQ Trust (NASDAQ:QQQ) and several tech stocks including Apple (NASDAQ:AAPL), Advanced Micro Devices (NASDAQ:AMD), and Tesla (NASDAQ:TSLA).

Portfolio Pulse from John Chang

September 05, 2023 | 4:31 pm

NFLX

WBD

Netflix Inc. (NASDAQ:NFLX) is facing several challenges including content shortages due to Hollywood strikes, legal issues surrounding a DVD giveaway, and controversy over fair residuals for actors. Traditional media companies like Warner Bros. Discovery (NASDAQ:WBD) are also affected by the strikes, but tech giants like Netflix, Apple, and Amazon are better positioned to absorb losses and continue investing in content.

Portfolio Pulse from Mohit Manghnani

September 05, 2023 | 3:57 pm

SPY

The USA CB Employment Trends Index for August has decreased to 113.02 from 115.45 in the previous month.

Portfolio Pulse from Happy Mohamed

September 05, 2023 | 2:01 pm

NNDM

Nano Dimension Ltd. (NNDM) has announced that its COO, Tomer Pinchas, will assume the role of CFO during the maternity leave of current CFO Yael Sandler. Pinchas has over 18 years of global experience in finance, M&A, and operations management, and has served as CFO at several multinational companies.

Portfolio Pulse from Happy Mohamed

September 05, 2023 | 1:34 pm

WBD

Warner Bros. Discovery, Inc (NASDAQ:WBD) has revised its 2023 guidance due to the ongoing WGA and SAG-AFTRA strikes. The company now expects FY23 adjusted EBITDA of $10.5 billion - $11 billion, implying an impact of $300 million - $500 million due to the strikes. It has also increased its FY23 free cash flow expectations to at least $5 billion and expects to exceed $1.7 billion in free cash flow for Q3, partly due to the strong performance of Barbie. The strikes have led to the postponement of several film releases.

Portfolio Pulse from Anusuya Lahiri

September 05, 2023 | 1:30 pm