Streetbeat News

Labor Issues

YELL

Shares of Yellow Corp (YELL) surged by 27% after a potential strike by Teamsters at YRC Freight and Holland was averted. The successful negotiation of labor issues has led to a positive market response.

Portfolio Pulse from Charles Gross

July 24, 2023 | 6:32 pm

DIS

Disney is considering delaying some of its 2023 movie releases due to ongoing strikes. This could potentially impact the company's revenue and stock performance.

Portfolio Pulse from Happy Mohamed

July 24, 2023 | 5:38 pm

AMZN

FDX

UPS

UPS drivers and supporters rallied across the U.S. over the weekend, ahead of a potential strike starting next week. The Brotherhood of Teamsters Union, which has a contract with UPS that expires July 31, is seeking improved wages and working conditions. If the strike happens, it could halt a quarter of the country's goods deliveries. UPS has agreed to some demands, but disagreements over wages and contracts persist. The stock of UPS, FedEx, and Amazon could be affected.

Portfolio Pulse from Aaron Bry

July 24, 2023 | 4:30 pm

FDX

The Air Line Pilots Association has announced that FedEx pilots have rejected a tentative agreement with the company by a vote of 57% to 43%.

Portfolio Pulse from Happy Mohamed

July 24, 2023 | 4:13 pm

FDX

FedEx pilots have rejected a tentative agreement, according to Reuters. The specifics of the agreement were not disclosed.

Portfolio Pulse from Happy Mohamed

July 24, 2023 | 4:11 pm

HRTX

Heron Therapeutics, Inc. (NASDAQ:HRTX) has announced a cost reduction plan and corporate restructuring, which is expected to result in cash savings of approximately $75 million through 2025. The company's new management team conducted a strategic review of the business, leading to these actions. The plan includes a $30 million equity financing, streamlining operational expenditures, and reducing the company's employee base by 25%. The company aims to achieve profitability by late 2024.

Portfolio Pulse from Happy Mohamed

July 24, 2023 | 1:07 pm

CME

CME Group Inc. plans to terminate about 100 positions, or 3% of its workforce, and reallocate most of those positions to new, cloud-focused technology roles. The overall headcount of the firm will remain the same. The company also announced enhancements to its existing cross-margining arrangement, expected to launch in January 2024.

Portfolio Pulse from Nabaparna Bhattacharya

July 24, 2023 | 11:37 am

AAL

UAL

American Airlines Group Inc (NASDAQ: AAL) has increased its pilot contract offer to approximately $9 billion, aligning it with a tentative agreement reached by United Airlines Holdings Inc (NASDAQ:UAL) and its pilots. The revised offer includes 21% pay bonuses and pay equivalent to that of United and Delta. However, the Allied Pilots Association (APA), representing American's pilots, expressed concerns about ratification, stating that United's pilots would earn a minimum of 2% more than their counterparts at American.

Portfolio Pulse from Bibhu Pattnaik

July 23, 2023 | 2:33 pm

BABA

BYDDY

JD

UPS

This week's economic highlights include China's Q2 GDP miss, the final Fed rate hike, a potential UPS strike, and insights from 9 million bank accounts. China's GDP growth fell short of expectations, potentially impacting tech companies like Alibaba and JD.com, and new energy vehicle manufacturers like BYD. A potential strike at UPS could impact the logistics industry and contribute to inflationary pressures. A report from JP Morgan Chase reveals that the median American now has more money in the bank than before the pandemic.

Portfolio Pulse from Benzinga Neuro

July 23, 2023 | 10:02 am

GOOGL

A leaked spreadsheet from Alphabet Inc's Google revealed salary data for over 12,000 U.S.-based employees in 2022. The highest earners were software engineers, with base salaries reaching $718,000. The data showed a correlation between employees' tenure at the company and their salary levels. Google employees' earnings also included equity options and bonuses, with software engineers able to receive up to $1.5 million in equity in 2022.

Portfolio Pulse from Bibhu Pattnaik

July 22, 2023 | 1:27 pm