Streetbeat News

Labor Issues

MSFT

Larry 'Major Nelson' Hryb, Xbox's director of programming, has announced his departure from Microsoft Corp (NASDAQ: MSFT) after 22 years. Hryb, known for his extensive work in the Xbox community, stated that he is excited to see the future evolution of Xbox. The Xbox's official podcast will be on hiatus for the summer and return with a new format without him.

Portfolio Pulse from Franca Quarneti

July 17, 2023 | 5:42 pm

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GTBIF

Illinois Governor JB Pritzker, who signed a cannabis legalization bill two years ago, will be a keynote speaker at the upcoming Benzinga Cannabis Capital Conference. The cannabis legalization law has resulted in the creation of over 30,000 jobs and positively impacted the state's economy, with weed sales reaching $1.5 billion in 2022. Some of the largest companies in Illinois' diverse cannabis industry include Cresco Labs Inc, Verano Holdings Corp., and Green Thumb Industries.

Portfolio Pulse from Maureen Meehan

July 17, 2023 | 4:29 pm

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ETHUSD

Binance CEO Changpeng Zhao has reassured his staff that the company remains profitable, despite cutting back on employee benefits due to a decline in profits, according to sources.

Portfolio Pulse from Happy Mohamed

July 17, 2023 | 4:28 pm

DIS

Walt Disney Company (NYSE:DIS) shares are trading lower, down by more than 8% over the last month. The entertainment industry is facing disruption due to the SAG-AFTRA strike of actors and writers. Disney's CEO, Bob Iger, expressed concerns about the unrealistic expectations of the unions. Additionally, Disney is in a legal dispute with Governor DeSantis and the state of Florida over its self-governing control over its theme park. Disney's shares are trading on higher than average volume.

Portfolio Pulse from Erica Kollmann

July 17, 2023 | 4:08 pm

DIS

PARA

PARAA

Media stocks are trading lower due to the SAG-AFTRA union strike. The companies mentioned are Disney (DIS), Paramount Global (PARA), and Paramount Global Class A (PARAA).

Portfolio Pulse from Benzinga Newsdesk

July 17, 2023 | 4:06 pm

WBD

Warner Bros Discovery Inc (NASDAQ:WBD) shares are trading lower amid the SAG-AFTRA union strike. The strike could increase production costs and disrupt the production of films, TV shows, and other content owned by WBD, potentially impacting its profitability, cash flow, and ability to generate revenue. The company's stock price may decline as investors perceive this as a negative sign.

Portfolio Pulse from Henry Khederian

July 17, 2023 | 3:35 pm

UPS

Members of Teamsters Local 396, who are employed by UPS, are planning to picket at UPS facilities in Los Angeles County. The contract covering more than 340,000 Teamsters is set to expire on July 31, 2023.

Portfolio Pulse from Happy Mohamed

July 17, 2023 | 2:43 pm

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TCNNF

An employee at Green Thumb Industries' (OTCQX:GTBIF) cultivation and manufacturing facility in Rock Island, Illinois, died during her shift. The worker had recently changed position within the company from desk work to manufacturing. This follows Teamsters Local 777 filing additional unfair labor practice charges against Green Thumb Industries. Last year, a similar incident occurred at a Trulieve (OTCQX:TCNNF) facility where a worker died due to respiratory issues allegedly linked to cannabis dust in the air.

Portfolio Pulse from Nina Zdinjak

July 17, 2023 | 2:43 pm

AAL

ABOS

AMAT

BABA

BLK

MLTX

MSFT

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SPCE

UAL

Several companies have made significant announcements. Advanced Micro-Fabrication Equipment Inc and Naura Technology Group Co expect a doubling in profits due to the U.S. tech embargo. BlackRock Inc plans to expand its Voting Choice program to its largest ETF. Alibaba Group Holding Limited's stock is trading lower as China's Q2 GDP missed estimates. Ford Motor Co announced price cuts for its F-150 Lightning truck. Virgin Galactic Holdings Inc announced the crew of its seventh spaceflight. Rocket Lab USA Inc is preparing to launch a mix of satellites for NASA and commercial satellite constellation operators. Acumen Pharmaceuticals Inc's experimental Alzheimer's drug passed early safety tests. Sony Group Corp and Microsoft Corporation have reportedly reached a 10-year agreement to keep 'Call of Duty' games on PlayStation consoles. Proximus SA is acquiring a 58% stake in Route Mobile. Entain PLC plans to acquire Angstrom Sports. Hennes & Mauritz AB is launching its stores in Brazil. American Airlines Group Inc and JetBlue Airways Corp have initiated the process of dissolving the Northeast Alliance. United Airlines Holdings Inc and its pilots have reached a labor agreement with a substantial pay raise. MoonLake Immunotherapeutics is reportedly looking for a potential sale. Toshiba Corp plans to establish a supply chain for offshore wind power equipment in Japan with General Electric Company.

Portfolio Pulse from Vandana Singh

July 17, 2023 | 2:13 pm

PARA

Shares of Paramount Global (NASDAQ:PARA) are trading lower due to the ongoing SAG-AFTRA union strike. The strike could increase production costs and disrupt the production of films and TV shows, potentially impacting Paramount's profitability, cash flow, and ability to generate revenue. The company's shares are down by 1.82% to $15.67.

Portfolio Pulse from Henry Khederian

July 17, 2023 | 1:24 pm