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Labor Issues

DASH

DoorDash (NYSE:DASH) drivers have been reportedly using accounts registered under false names to make deliveries, leading to customer confusion and potential security risks. The revelations surfaced through TikTok videos and firsthand accounts. This raises safety concerns as drivers operating under different accounts may not have undergone the mandatory criminal background checks. DoorDash confirmed it verifies driver identities through government-issued photo IDs and maintains a “zero-tolerance” policy for account sharing.

Portfolio Pulse from Benzinga Neuro

September 01, 2023 | 7:41 am

DIS

Disney's first responders are reconsidering their support for Florida Governor Ron DeSantis' plan to take over the Reedy Creek Improvement District after losing special benefits. The newly rebranded Central Florida Tourism Oversight District Board, which now oversees the district, rescinded firefighters' free passes to Disney parks and resorts. This change comes amidst DeSantis' attempts to reconcile with Disney following a disagreement over the governor's controversial education bill and the company's subsequent legal action against his administration.

Portfolio Pulse from Benzinga Neuro

September 01, 2023 | 7:20 am

AMC

Taylor Swift's 'Eras Tour' concert film is set to be released in all AMC Theatres in the U.S., Mexico, and Canada on October 13, despite ongoing Hollywood strikes. The film was produced under an interim agreement struck by SAG-AFTRA, covering non-AMPTP productions. AMC has upgraded its website and ticketing engines to handle increased ticket-buying traffic.

Portfolio Pulse from Benzinga Neuro

September 01, 2023 | 3:39 am

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GM

STLA

The U.S. Department of Energy has announced a $15.5 billion funding package to help automakers upgrade their factories for electric vehicle (EV) production. The package includes $2 billion in grants, $10 billion in loans, and $3.5 billion for EV battery manufacturing. The announcement comes after United Auto Workers (UAW) members from Ford Motor Co, General Motors Co, and Stellantis NV authorized a potential strike for fair transition to EVs.

Portfolio Pulse from Anan Ashraf

September 01, 2023 | 3:06 am

PHM

PulteGroup, Inc. (NYSE:PHM) is facing a new lawsuit over allegations of gender discrimination and retaliation. The plaintiff, Caitlin Overturf, a former employee, alleges that she was systematically discriminated against due to her sex and was passed over for promotions in favor of less-qualified male colleagues. This lawsuit follows another recent one where the company was sued for racial discrimination. The lawsuits call into question the company's internal culture and could indicate a broader problem within PulteGroup's corporate hierarchy.

Portfolio Pulse from Benzinga Staff

August 31, 2023 | 9:01 pm

NEXI

NexImmune has announced plans to reduce its workforce by approximately 53%, decreasing the number of full-time employees from 47 to 22 by September 5, 2023.

Portfolio Pulse from Benzinga Newsdesk

August 31, 2023 | 8:54 pm

UPS

United Parcel Service Inc. (NYSE:UPS) is offering voluntary separation benefits to eligible pilots in an effort to reduce its workforce amid declining package volume. The company aims to entice 167 senior pilots to retire early. This is the first time since 2010 that UPS has sought to trim its pilot workforce. The company handled 9.4% fewer packages in Q2 2022 compared to the same period in 2021, with a more pronounced decline of 12% in domestic packages traveling via plane.

Portfolio Pulse from Happy Mohamed

August 31, 2023 | 6:46 pm

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GM

SPY

STLA

TSLA

U.S. Energy Secretary Jennifer Granholm stated that she is unsure if the funding will affect collective bargaining by the United Auto Workers Union.

Portfolio Pulse from Happy Mohamed

August 31, 2023 | 3:23 pm

AAPL

Apple Inc. plans to end customer support on Twitter and YouTube from October 1, 2021. The company will replace human replies with automated messages on Twitter and stop offering technical support via comments on its YouTube Support channel. Affected employees are being offered the chance to transition to phone-based support roles. Apple has been offering Twitter-based customer support since 2016 and cites customer preference for phone-based support as the reason for the change.

Portfolio Pulse from Benzinga Neuro

August 31, 2023 | 3:20 pm

DLTH

Duluth Holdings Inc. (NASDAQ:DLTH) reported a Q2 FY23 sales decline of 1.7% YoY to $139.10 million, beating the consensus of $138.41 million. However, the EPS loss of $(0.06) missed the analyst consensus of breakeven $(0.00). Retail store net sales decreased by 7% due to slower store traffic. The company's CFO, Dave Loretta, will step down effective September 15. Duluth reaffirmed its FY23 revenue outlook of $645 million-$660 million. DLTH shares are trading lower by 13% at $6.39.

Portfolio Pulse from Nabaparna Bhattacharya

August 31, 2023 | 3:03 pm