Streetbeat News

Labor Issues

UNP

Union Pacific Corp (NYSE:UNP) has reached a paid sick leave agreement with the International Association of Sheet Metal, Air, Rail and Transportation Workers (SMART-TD). The agreement provides up to eight paid sick leave days to around 5,900 railroad employees. If ratified by SMART-TD, Union Pacific will have paid sick leave agreements in place with all 13 of its labor unions.

Portfolio Pulse from Shivani Kumaresan

July 10, 2023 | 10:06 am

UNP

Union Pacific (UNP) has reached a tentative agreement with the SMART-TD labor union on paid sick leave. The details of the agreement have not been disclosed.

Portfolio Pulse from Benzinga Newsdesk

July 10, 2023 | 4:08 am

BTCUSD

DOGEUSD

ETHUSD

Major cryptocurrencies including Bitcoin, Ethereum, and Dogecoin traded in the red amid mixed signals from the U.S. labor market. The June nonfarm payrolls (NFPs) fell short of economists’ expectations, suggesting a weakening of employment momentum. JPMorgan's report highlighted a potential drawback for the crypto markets, suggesting that a spot Bitcoin ETF may not have the transformative effect many anticipate. Meanwhile, US Stock futures showed slight gains in anticipation of upcoming inflation data and the start of the second-quarter earnings season.

Portfolio Pulse from Mehab Qureshi

July 10, 2023 | 2:23 am

TSLA

Tesla Inc (NASDAQ:TSLA) is recruiting temporary workers for a three-month test-driving program for their electric vehicles. The workers will be responsible for gathering data on the performance of Tesla's systems. The pay ranges from $18-$45 per hour and the job opportunities would be in more than twelve cities. Tesla often hires test drivers to enhance its Autopilot driver-assist feature and beta Full Self-Driving software.

Portfolio Pulse from Bibhu Pattnaik

July 09, 2023 | 4:39 pm

VTGN

VistaGen Therapeutics has announced that its CFO, Jerrold D. Dotson, intends to retire on or about August 31, 2023.

Portfolio Pulse from Charles Gross

July 07, 2023 | 8:42 pm

PIK

Kidpik announced that CFO Adir Katzav will resign from his positions with the company, effective as of the close of business on July 21, 2023. Jill Pasechnick has been named as the Principal Financial and Principal Accounting Officer, beginning July 21, 2023.

Portfolio Pulse from Charles Gross

July 07, 2023 | 8:31 pm

AMZN

BIIB

MSFT

TSLA

UPS

The June jobs report showed mixed data, with unemployment dropping to 3.6% but job additions falling short of expectations. Traders are expecting a Fed interest rate hike in July, but weaker job market numbers decrease the likelihood of a consecutive hike in September. The ongoing US-China spat is affecting the semiconductor sector, with new restrictions and bans affecting companies like Amazon and Microsoft. The FDA approved a new Alzheimer's drug by Eisai Co and Biogen. UPS is facing potential labor issues, and Tesla reported strong Q2 deliveries. Earnings reports from several major companies are expected next week.

Portfolio Pulse from Natan Ponieman

July 07, 2023 | 7:52 pm

NSC

Norfolk Southern has announced that due to ongoing labor issues in Vancouver, British Columbia, the Canadian National Railway (CN) and Canadian Pacific Railway (CP) are no longer accepting interline shipments for that region.

Portfolio Pulse from Benzinga Newsdesk

July 07, 2023 | 7:50 pm

MCD

The National Owners Association (NOA), representing over 1,000 McDonald's franchisee owners, has expressed strong opposition to California Assembly Bill 1228. The NOA believes that the proposed bill could potentially destroy the franchise model in California, which has been a proven pathway to business ownership and generational opportunity for entrepreneurs.

Portfolio Pulse from Benzinga Newsdesk

July 07, 2023 | 7:05 pm

AMZN

Amazon delivery drivers and dispatchers from Palmdale, California, have extended their strike to a Connecticut warehouse, demanding Amazon to stop unfair labor practices. The strike will continue until Amazon reinstates terminated employees, recognizes the Teamsters, respects the contract negotiated by the workers, and bargains with the Teamsters Union to address low pay and dangerous working conditions.

Portfolio Pulse from Charles Gross

July 07, 2023 | 6:45 pm