Streetbeat News

Labor Issues

SPY

Initial jobless claims came in at 264K, higher than the estimated 260K.

Portfolio Pulse from Bill Haddad

June 22, 2023 | 12:31 pm

IMAB

I-Mab has announced the appointment of Raj Kannan as its new CEO. Raj brings extensive experience in the biopharmaceutical industry and is expected to drive the company's growth.

Portfolio Pulse from Bill Haddad

June 22, 2023 | 12:05 pm

BA

SPR

Spirit AeroSystems employees, represented by the International Association of Machinists and Aerospace Workers, have decided to strike, causing factory production suspension. This will impact Boeing, as the plant produces 70% of its narrow-body aircraft and defense and business jet structures. Both Boeing and Spirit AeroSystems stocks are falling in response to the news.

Portfolio Pulse from Vandana Singh

June 22, 2023 | 11:36 am

BA

Boeing shares are trading lower due to a halt of work at supplier Spirit AeroSystems' Wichita plant caused by a union strike.

Portfolio Pulse from Bill Haddad

June 22, 2023 | 11:23 am

DB

Deutsche Bank is considering cutting 10% of its 17,000 German retail jobs over the next few years, according to a Reuters report.

Portfolio Pulse from Charles Gross

June 22, 2023 | 11:22 am

GXO

GXO Logistics and Zalando have partnered to operate a 140,000-square-meter fulfillment center near Paris, featuring state-of-the-art automation technology. The facility is expected to create up to 2,000 jobs and demonstrate both companies' commitment to ESG.

Portfolio Pulse from Benzinga Newsdesk

June 22, 2023 | 11:12 am

WTI

W&T Offshore has appointed Sameer Parasnis as Executive Vice President and CFO, effective July 3, 2023. He will report to Tracy Krohn, W&T's Chairman and CEO.

Portfolio Pulse from Benzinga Newsdesk

June 22, 2023 | 10:46 am

SPR

Spirit AeroSystems shares are trading lower after the company suspended factory operations due to a worker's strike.

Portfolio Pulse from Benzinga Newsdesk

June 22, 2023 | 10:37 am

BA

SPR

Boeing and Spirit Aerosystems shares are down following Spirit's decision to halt work at its Wichita plant due to a union strike. This may affect production and delivery schedules.

Portfolio Pulse from Charles Gross

June 22, 2023 | 9:30 am

SPR

Spirit AeroSystems will suspend factory production due to a strike by employees represented by the International Association of Machinists and Aerospace Workers. The suspension begins on June 22, with affected employees receiving pay for their regular work hours.

Portfolio Pulse from Benzinga Newsdesk

June 22, 2023 | 7:26 am