Streetbeat News

Labor Issues

LUV

Southwest Airlines has reached a tentative 4-year agreement with its flight simulator technicians, represented by the Teamsters. The agreement includes a 23% wage increase and improved benefits. Members will vote on the contract in the coming weeks.

Portfolio Pulse from Benzinga Newsdesk

September 12, 2024 | 7:41 pm

CTKB

Cytek Biosciences announced that COO Chris Williams will resign effective September 27, 2024, to pursue a CEO role at another company. Cytek will not replace the COO position and will restructure to a flatter management structure.

Portfolio Pulse from Benzinga Newsdesk

September 12, 2024 | 7:21 pm

AAL

American Airlines flight attendants have ratified a new contract that includes immediate raises exceeding 20%. This development is expected to impact the company's financials and labor relations positively.

Portfolio Pulse from Benzinga Newsdesk

September 12, 2024 | 5:36 pm

AMZN

Amazon is increasing pay for its drivers to nearly $22 an hour, investing roughly $2 billion. This move comes in response to unionization threats.

Portfolio Pulse from Benzinga Newsdesk

September 12, 2024 | 5:24 pm

CTKB

Cytek Biosciences shares declined following the resignation of COO Paul Christopher Williams, effective September 27.

Portfolio Pulse from Benzinga Newsdesk

September 12, 2024 | 5:04 pm

BA

Boeing Co (NYSE:BA) shares may face a downtrend as a potential strike by 33,000 workers looms. The $163 price level, previously a support, has turned into resistance, indicating possible further declines.

Portfolio Pulse from Mark Putrino

September 12, 2024 | 4:06 pm

GM

TTDKY

General Motors (GM) and TDK are partnering with CATL to potentially create over 1,000 jobs in the U.S. This collaboration could have significant implications for the automotive and battery industries.

Portfolio Pulse from Benzinga Newsdesk

September 12, 2024 | 2:59 pm

ONCT

Oncternal Therapeutics is discontinuing clinical trials for ONCT-534 and ONCT-808 due to insufficient results and high costs. The company will explore strategic alternatives such as asset sales, licensing, or mergers, and will reduce its workforce to conserve cash.

Portfolio Pulse from Benzinga Newsdesk

September 12, 2024 | 1:01 pm

RIVN

STLA

Sarah O'Brien, former Chief Communications Officer at Rivian Automotive, has joined Jony Ive's creative collective, LoveFrom. Her departure adds to the list of senior executives leaving Rivian, following Tim Fallon's move to Stellantis.

Portfolio Pulse from Anan Ashraf

September 12, 2024 | 12:48 pm

MSFT

Microsoft has laid off 650 employees in its gaming division as part of a restructuring following its $68.7 billion acquisition of Activision Blizzard. This move is part of a broader strategy to integrate new teams and streamline operations, affecting about 8% of its gaming workforce.

Portfolio Pulse from Rounak Jain

September 12, 2024 | 11:31 am