Streetbeat News

Labor Issues

ORCL

Oracle Corp has downsized its health unit, including Cerner, which it acquired for $28.3 billion in December 2022, by laying off hundreds of employees and cutting back open positions. The move follows Cerner's challenged work with the U.S. Department of Veterans Affairs. Oracle's Q4 revenue increased 17% YoY to $13.8 billion, beating analyst estimates.

Portfolio Pulse from Anusuya Lahiri

June 16, 2023 | 12:09 pm

DIS

Disney's CFO Christine McCarthy is stepping down and taking a family medical leave of absence. Options traders expect Disney's stock to drop more than 14% by July expiration. Kevin Lansberry will serve as Interim CFO from July 1.

Portfolio Pulse from Lisa Levin

June 16, 2023 | 12:03 pm

ORGN

Origin Materials announced that CFO Nate Whaley will be departing the company. A formal search process for a new CFO has been initiated, and Whaley will remain at the company until September 1, 2023, and hold an advisory role through the end of the year.

Portfolio Pulse from Benzinga Newsdesk

June 16, 2023 | 11:06 am

BHIL

Benson Hill (BHIL) announced the immediate resignation of CEO Matt Crisp, with Adrienne Elsner named as interim CEO. Crisp will serve as a consultant to the Board for 12 months. The company also appointed Richard Mack as an Independent Director.

Portfolio Pulse from Benzinga Newsdesk

June 16, 2023 | 11:04 am

DIS

Disney CFO Christine McCarthy is stepping down and taking a family medical leave of absence. Veteran Disney executive Kevin Lansberry will serve as Interim CFO, effective July 1. McCarthy will continue as a strategic advisor during her leave.

Portfolio Pulse from Bhavik Nair

June 16, 2023 | 4:13 am

BNBUSD

Binance.US, the U.S. affiliate of crypto giant Binance, has reportedly laid off around 50 employees following recent regulatory charges and asset freeze requests by the SEC. The affected employees are primarily from the legal, compliance, and risk departments.

Portfolio Pulse from Murtuza Merchant

June 16, 2023 | 12:11 am

ORCL

Oracle has laid off hundreds of employees, rescinded job offers, and cut open positions in its Cerner Health unit, according to Business Insider.

Portfolio Pulse from Charles Gross

June 15, 2023 | 8:57 pm

CTRA

Coterra Energy announced the retirement of EVP and CFO Scott C. Schroeder and CHRO Christopher H. Clason. Shane E. Young has been appointed as the new CFO, and Andrea M. Alexander as the new CHRO.

Portfolio Pulse from Benzinga Newsdesk

June 15, 2023 | 8:22 pm

THQQF

Embracer Group plans to leverage the 'Lord of the Rings' franchise to create a significant gaming presence, amid restructuring and layoffs. The company will close multiple studios and cancel several games, following a failed $2 billion deal. Embracer Group also holds the rights to the 'Tomb Raider' franchise.

Portfolio Pulse from Franca Quarneti

June 15, 2023 | 8:21 pm

DIS

Disney's CFO Christine McCarthy is stepping down, and Kevin Lansberry will assume the role of Interim CFO, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

June 15, 2023 | 8:19 pm