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Labor Issues

TCRT

Alaunos Therapeutics Inc (NASDAQ:TCRT) is refocusing its efforts on its hunTR TCR discovery platform and exploring strategic alternatives for the company. This includes winding down its TCR-T Phase 1/2 Library trial and reducing its workforce by 60%. The company has engaged Cantor Fitzgerald & Co as a strategic advisor. Alaunos' shares are down 64.6% at $0.14.

Portfolio Pulse from Vandana Singh

August 15, 2023 | 6:29 pm

STLA

The United Auto Workers (UAW) union is preparing for strike authorization votes to be held next week by 150,000 UAW members at Ford (F), General Motors (GM), and Stellantis (STLA). The vote is in preparation for the September 14th deadline for contract negotiations.

Portfolio Pulse from Happy Mohamed

August 15, 2023 | 3:36 pm

FSLR

First Solar's internal audit revealed instances of forced labor among migrant workers in its Malaysian operations, causing its shares to trade lower.

Portfolio Pulse from Benzinga Newsdesk

August 15, 2023 | 3:19 pm

AMZN

CAH

EXPGY

FSLR

PFE

PHG

RYAAY

TME

TWOA

Home Depot reported a 2% YoY sales decline in Q2 FY23, beating analyst consensus. Philips is recalling several ventilators due to dust and dirt issues, classified as 'most serious' by the FDA. Tencent Music reported a 5.5% YoY revenue growth in Q2, missing consensus. Cardinal Health reported a 48% YoY increase in Q4 FY23 adjusted EPS, beating consensus. Pfizer received FDA approval for its blood cancer therapy. LatAm Logistic Properties is going public via a $578M SPAC merger. Experian was charged by the FTC for spamming consumers. Amazon's Devices Chief, David Limp, announced his retirement. First Solar's internal audit revealed instances of forced labor in its Malaysian operations. Ryanair expects to exceed its monthly passenger record in August.

Portfolio Pulse from Vandana Singh

August 15, 2023 | 1:59 pm

FSLR

First Solar, Inc's stock is trading lower after its internal audit revealed instances of forced labor among migrant workers in its Malaysian operations. The audit identified that four subcontracting firms had imposed recruitment fees on these workers and had unjustly retained their salaries and passports. First Solar has mandated the implicated subcontractors to amend their practices and consent to regular reviews to eradicate forced labor.

Portfolio Pulse from Anusuya Lahiri

August 15, 2023 | 1:45 pm

TRKA

Troika Media has announced the termination of its CEO and CFO, effective August 14. The company has not yet announced replacements for these positions.

Portfolio Pulse from Benzinga Newsdesk

August 15, 2023 | 12:42 pm

DFS

Discover Financial Services announced the resignation of its CEO and President, Roger C. Hochschild. This news has led to a decrease in the company's share price.

Portfolio Pulse from Benzinga Newsdesk

August 15, 2023 | 12:30 pm

AMZN

David Limp, the head of Amazon's device division, plans to leave the company after 13 years. His departure is the latest in a series of high-profile exits since Andy Jassy took over as CEO. Limp's division, which includes Amazon's Alexa and other services and gadgets, has struggled to generate profits. The division was also affected by Jassy's cost-cutting measures, which resulted in the loss of 27,000 jobs. Despite selling over 500 million Alexa-enabled devices, the unit has reported operating losses exceeding $5 billion in some years.

Portfolio Pulse from Anusuya Lahiri

August 15, 2023 | 11:56 am

CRLBF

VRNOF

Cannabis consultants and agents-in-charge at two Chicago-based dispensaries operated by Zen Leaf, a subsidiary of Verano (OTCQX:VRNOF), have ratified their first collective bargaining agreements with Teamsters Local 777. This comes less than a month after reaching tentative agreements at Zen Leaf dispensaries in Chicago and Schaumburg, Ill. Verano is the third multi-state operator that Local 777 has successfully bargained agreements with. Other recent Teamsters activity includes wellness advisors and other cannabis workers at Sunnyside, a subsidiary of Cresco Labs (OTCQX:CRLBF), voting to join Teamsters Local 777.

Portfolio Pulse from Nina Zdinjak

August 15, 2023 | 11:00 am

DFS

Discover Financial Services (NYSE:DFS) shares are down by around 6% following the announcement of CEO and President Roger C. Hochschild's resignation. John Owen, a member of the Discover Board since June 2022, will serve as Interim CEO and President from August 14. Hochschild will remain in an advisory role until the end of the year. J. Michael Shepherd has also joined the company's Board of Directors.

Portfolio Pulse from Lekha Gupta

August 15, 2023 | 10:20 am