Streetbeat News

Labor Issues

SPY

The USA JOLTs job openings for May came in at 9.824 million, lower than the estimated 9.935 million and the prior figure of 10.103 million.

Portfolio Pulse from Happy Mohamed

July 06, 2023 | 2:01 pm

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US stocks traded lower with the Dow Jones dropping over 300 points due to an increase in jobless claims. Stocks that saw significant changes include Caribou Biosciences, Genius Sports Limited, Sweetgreen, Allarity Therapeutics, VBI Vaccines, and ASLAN Pharmaceuticals. The US jobless claims increased by 12,000 from the previous week to 248,000, higher than the market estimates of 245,000.

Portfolio Pulse from Lisa Levin

July 06, 2023 | 1:52 pm

SPY

The number of continuing jobless claims came in at 1.72 million, slightly below the expected 1.745 million and the prior figure of 1.742 million.

Portfolio Pulse from Benzinga Newsdesk

July 06, 2023 | 12:30 pm

SPY

The initial jobless claims for the week were reported at 248K, slightly higher than the estimated 245K.

Portfolio Pulse from Benzinga Newsdesk

July 06, 2023 | 12:30 pm

SPY

The ADP Nonfarm Employment Change for June reported a 497K increase, significantly higher than the estimated 228K. This positive labor market data could potentially influence the overall market sentiment.

Portfolio Pulse from Benzinga Newsdesk

July 06, 2023 | 12:15 pm

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Tesco plc, Britain's largest private-sector employer, plans to provide its 310,000 U.K. workers with virtual appointments with a private family doctor. This move is in response to Britain's tight labor market and the strain on the National Health Service (NHS) due to the COVID-19 pandemic and an aging population. The new employee benefits package will also extend to their families, offering unlimited appointments with a general practitioner (GP) seven days a week.

Portfolio Pulse from Vandana Singh

July 06, 2023 | 11:44 am

SPY

The Challenger Job Cuts report for June shows a significant decrease in job cuts to 40,709, compared to 80,089 in May.

Portfolio Pulse from Charles Gross

July 06, 2023 | 11:37 am

JBLU

SAVE

JetBlue Airways (NASDAQ:JBLU) plans to cut jobs in New York and Boston due to the termination of its partnership with American Airlines. However, no worker furloughs are planned as the company shifts its focus to its proposed acquisition of Spirit Airlines (NYSE:SAVE). JetBlue will not contest a judge’s ruling against their partnership with American Airlines, instead focusing on its $3.8 billion Spirit deal, which has also been challenged by the Justice Department.

Portfolio Pulse from Benzinga Newsbot

July 06, 2023 | 8:21 am

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JBLU

JetBlue's CEO has informed employees that the airline will likely need fewer jobs in Boston and New York following the termination of its alliance with American Airlines. However, the airline does not plan any furloughs due to a court decision invalidating the alliance.

Portfolio Pulse from Charles Gross

July 05, 2023 | 8:48 pm