Streetbeat News

Labor Issues

EXPR

The company plans to implement annualized cost reductions of $120M for FY24, which includes a workforce reduction expected to generate savings of approximately $30M. This reduction will impact about 150 employees and is expected to be completed by the end of Q3 of fiscal 2023.

Portfolio Pulse from Happy Mohamed

August 17, 2023 | 8:22 pm

POAI

Predictive Oncology's CFO, Bob Myers, has announced his intention to resign from the company effective September 30. Josh Blacher has been appointed as the interim CFO, according to an SEC filing.

Portfolio Pulse from Happy Mohamed

August 17, 2023 | 8:13 pm

NOVA

KeyBanc Capital Markets analyst Sophie Karp has reiterated the Overweight rating on Sunnova Energy International Inc. (NOVA), but lowered the price target from $39 to $31 due to a decrease in 2023-2025 estimates. The reduction is based on 2Q results and market conditions. Karp highlights labor and operational risks within the dealer business model and policy uncertainty at federal and local levels. Despite these risks, Karp believes NOVA's current levels provide an attractive entry point for investors.

Portfolio Pulse from Nabaparna Bhattacharya

August 17, 2023 | 6:42 pm

ALGT

Allegiant's maintenance technicians and related workforce have ratified a new contract with a 75.5% approval vote. The agreement provides for significant increases in rates and a two-year extension to the current bargaining agreement, making the new amendable date October 31, 2028. The negotiation process was swift and reached more than 3 years before the current contract became amendable.

Portfolio Pulse from Benzinga Newsdesk

August 17, 2023 | 6:29 pm

GS

Goldman Sachs (GS) is planning a hiring spree to address regulatory lapses that have come under scrutiny from the Federal Reserve, according to Bloomberg. The bank is looking to hire compliance and risk professionals to strengthen its controls and procedures.

Portfolio Pulse from Benzinga Newsdesk

August 17, 2023 | 6:25 pm

X

U.S. Steel has stated in an SEC filing that it will not proceed with any transaction that results in a change of control unless the new parent company recognizes the union as the bargaining representative for current employees and provides reasonable assurances of honoring all agreements.

Portfolio Pulse from Happy Mohamed

August 17, 2023 | 3:43 pm

EWT

QCOM

Qualcomm is reportedly planning to lay off around 200 employees from its Taiwan headquarters in October. The layoffs will primarily affect the product engineering, testing, and verification departments.

Portfolio Pulse from Charles Gross

August 17, 2023 | 12:59 pm

SPY

The number of continuing jobless claims has increased to 1.716 million, slightly higher than the estimated 1.7 million and the previous figure of 1.684 million.

Portfolio Pulse from Benzinga Newsdesk

August 17, 2023 | 12:30 pm

SPY

The initial jobless claims for the week were reported at 239K, slightly below the estimated 240K.

Portfolio Pulse from Benzinga Newsdesk

August 17, 2023 | 12:30 pm

KRON

Kronos Bio has announced the departure of its CFO and Head of Corporate Development, Yasir Al-Wakeel, effective from September 15.

Portfolio Pulse from Benzinga Newsdesk

August 17, 2023 | 12:12 pm