Streetbeat News

Labor Issues

ONCS

OncoSec Medical announced the termination of George Chi for cause as an employee and CFO on June 12, 2023.

Portfolio Pulse from Benzinga Newsdesk

June 14, 2023 | 9:00 pm

TRUE

TrueCar announces a strategic restructuring, impacting 102 positions (24% of the company) and reducing annualized expenses by over $20M. Jantoon Reigersman is appointed as President and CEO, succeeding Michael Darrow who is departing the company.

Portfolio Pulse from Benzinga Newsdesk

June 14, 2023 | 8:08 pm

SPY

Federal Reserve Chairman Jerome Powell stated that they expect wages not to fall, but to grow more slowly. He added that a gradual slowdown in wage growth is necessary to bring down inflation, and labor market dynamics are central to their discussions.

Portfolio Pulse from Benzinga Newsdesk

June 14, 2023 | 7:16 pm

SPY

Federal Reserve Chairman Jerome Powell believes there is a path to 2% inflation without significant job losses, suggesting that a strong labor market that gradually cools could aid a soft landing.

Portfolio Pulse from Benzinga Newsdesk

June 14, 2023 | 7:09 pm

ALLO

Allogene Therapeutics' CFO Eric Schmidt is stepping down from his position, causing the company's stock to trade lower. Schmidt will remain with the company until August 2, 2023, to ensure an orderly transition. Allogene has initiated a search for a new CFO.

Portfolio Pulse from Ryan Gustafson

June 14, 2023 | 6:53 pm

SPY

Federal Reserve Chair Jerome Powell stated that the labor market has shown extraordinary resilience despite the pandemic. This could indicate a positive outlook for the economy.

Portfolio Pulse from Benzinga Newsdesk

June 14, 2023 | 6:50 pm

SPY

Federal Reserve Chair Jerome Powell stated that the labor market conditions need to continue loosening and the factors required for disinflation are coming into play, but the process will take some time.

Portfolio Pulse from Benzinga Newsdesk

June 14, 2023 | 6:46 pm

SPY

Federal Reserve Chair Jerome Powell stated that there are signs of supply and demand in the labor market coming into better balance, but labor demand still substantially exceeds the supply of workers.

Portfolio Pulse from Benzinga Newsdesk

June 14, 2023 | 6:34 pm

ALSK

ATNI

Alaska Communications announced the death of its President and CEO, Bill Bishop. The company has not yet named a successor.

Portfolio Pulse from Benzinga Newsdesk

June 14, 2023 | 5:47 pm

ALLO

Allogene Therapeutics announced that CFO Eric Schmidt will step down from his position, causing the company's shares to trade lower.

Portfolio Pulse from Benzinga Newsdesk

June 14, 2023 | 5:41 pm