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Labor Issues

AAL

DAL

UAL

American Airlines Group Inc's pilots union has reached an agreement in principle with the company's management on proposed enhancements to the Tentative Agreement. The deal includes an increase in the pilot contract offer by over a billion dollars, aligning it with a tentative agreement reached by competitor United Airlines Holdings Inc and its pilots. The revised agreement needs approval from the union's board and a ratification vote. The pay rate increases are contingent on United pilots ratifying their agreement.

Portfolio Pulse from Akanksha Bakshi

July 28, 2023 | 1:26 pm

FIXX

Homology Medicines Inc (NASDAQ:FIXX) announced initial data from its pheEDIT Phase 1 trial, showing positive results. However, due to the current financing environment and anticipated clinical development timelines, Homology will not be further developing its programs and will be reducing its workforce by 87%. The company has retained TD Cowen as its strategic financial advisor. These measures are expected to extend Homology's cash runway into 2026. As of March 31, 2023, Homology had approximately $150.0 million in cash, cash equivalents, and short-term investments. FIXX shares are up 23.40% at $1.16 during the premarket session on the last check Friday.

Portfolio Pulse from Vandana Singh

July 28, 2023 | 1:14 pm

AAPL

AMZN

DIS

NFLX

SONY

Major entertainment companies including Disney, Netflix, Amazon, Apple, and Sony are hiring for AI positions amid ongoing writer and actor strikes. Disney is seeking individuals for its Imagineering team, with salaries up to $180,000. Netflix is looking for an AI product manager with a salary of up to $900,000. Amazon and Apple have numerous AI and machine learning job vacancies, with Amazon offering up to $300,000 for a Prime Video senior project manager. Sony is seeking an AI ethics engineer.

Portfolio Pulse from Anusuya Lahiri

July 28, 2023 | 11:45 am

DCOM

Dime Community Bancshares, Inc.'s (NASDAQ:DCOM) CEO Kevin M. O'Connor is set to step down on August 31, 2023. The current President and COO Stuart H. Lubow will succeed him as CEO.

Portfolio Pulse from Benzinga Newsdesk

July 28, 2023 | 10:05 am

LUV

Southwest Airlines' 2,870 Mechanics and Related Employees have approved a new collective bargaining agreement. The agreement covers various roles including Aircraft Maintenance Technicians, Aircraft Inspectors, Maintenance Controllers, Training Instructors, and Ground Support Equipment Technicians. The agreement becomes amendable on August 16, 2027.

Portfolio Pulse from Benzinga Newsdesk

July 28, 2023 | 5:16 am

FIXX

Homology Medicines is planning to evaluate strategic options and has reduced its workforce by 87%. The company's drastic downsizing could be a sign of financial distress.

Portfolio Pulse from Benzinga Newsdesk

July 27, 2023 | 9:33 pm

AAL

The pilots union of American Airlines has reached an agreement in principle with the company on enhancements to the tentative contract agreement, according to Reuters.

Portfolio Pulse from Bill Haddad

July 27, 2023 | 8:58 pm

F

Ford's CFO has announced that the new labor contract with the United Auto Workers (UAW) will increase the company's costs. The specific impact on Ford's financials has not been detailed.

Portfolio Pulse from Benzinga Newsdesk

July 27, 2023 | 8:40 pm

PFE

Pfizer Inc has announced that the role of Chief Development Officer, Executive Vice President, currently held by Dr. William Pao, is being eliminated.

Portfolio Pulse from Happy Mohamed

July 27, 2023 | 8:25 pm

GME

GameStop has announced the resignation of its CFO, Diana Saadeh-Jajeh. The company has not yet announced a replacement.

Portfolio Pulse from Bill Haddad

July 27, 2023 | 8:18 pm