Streetbeat News

Labor Issues

SPY

Continuing jobless claims came in at 1.795 million, slightly below the expected 1.8 million and the prior figure of 1.794 million.

Portfolio Pulse from Benzinga Newsdesk

June 01, 2023 | 12:37 pm

SPY

Initial jobless claims came in at 232K, lower than the estimated 235K, indicating a strong labor market.

Portfolio Pulse from Benzinga Newsdesk

June 01, 2023 | 12:36 pm

NRG

NRG Energy has announced that Bruce Chung will succeed Alberto Fornaro as CFO, effective June 1, 2023. Fornaro will remain with NRG as a strategic advisor during the transition period until September 1, 2023.

Portfolio Pulse from Benzinga Newsdesk

June 01, 2023 | 12:05 pm

SPY

Challenger Job Cuts for May increased to 80,089, up from 66,995 in April, indicating a rise in job losses.

Portfolio Pulse from Benzinga Newsdesk

June 01, 2023 | 11:32 am

AAP

MSFT

NVDA

The S&P 500 closed lower on Wednesday due to an unexpectedly strong labor market report, increasing the likelihood of a Fed rate hike. Advance Auto Parts shares fell 35% after reporting worse-than-expected Q1 results and reducing full-year guidance. The Nasdaq 100 also fell, with losses in shares of NVIDIA and Microsoft.

Portfolio Pulse from Lisa Levin

June 01, 2023 | 9:42 am

NOVN

Novan announces a restructuring plan that will result in a reduction in workforce and incur approximately $900K in charges.

Portfolio Pulse from Benzinga Newsdesk

May 31, 2023 | 8:29 pm

SITC

Site Centers Corp has initiated a restructuring plan during Q2, which includes a voluntary retirement offer for eligible employees aged 59.5 or above with 10 years or more of service.

Portfolio Pulse from Happy Mohamed

May 31, 2023 | 8:29 pm

TCEHY

Riot Games, owned by Tencent Holdings Ltd. (OTC:TCEHY), has announced a two-week delay in the start of the North American League of Legends summer season due to a player strike. The walkout was sparked by Riot Games' decision to remove the requirement for teams to field an amateur group, which could lead to job losses. If a resolution is not reached within two weeks, the entire season may be canceled and teams disqualified from the 2023 Worlds.

Portfolio Pulse from Franca Quarneti

May 31, 2023 | 8:19 pm

TPCS

TechPrecision Corporation (NASDAQ: TPCS) announced the retirement of CFO Thomas Sammons on or about July 14, 2023, and the appointment of Barbara 'Bobbie' M. Lilley as his successor. Lilley, currently the Controller of the Company, has experience in the defense industry and will focus on Stadco integration, resource realignment, and customer retention.

Portfolio Pulse from Happy Mohamed

May 31, 2023 | 8:14 pm

OB

Outbrain announced a 10% reduction in its global workforce, impacting the company's operations and potentially affecting its stock price.

Portfolio Pulse from Happy Mohamed

May 31, 2023 | 8:04 pm