Streetbeat News

Labor Issues

SPY

The U.S. employment increased by 1.3% from March 2023 to March 2024, reaching a total of 153.6 million jobs. This growth reflects a positive trend in the labor market, which could influence economic indicators and market sentiment.

Portfolio Pulse from Benzinga Newsdesk

August 21, 2024 | 2:24 pm

HD

Home Depot has taken short-term measures to mitigate the impact of a potential rail strike in Canada on its customers and associates.

Portfolio Pulse from Benzinga Newsdesk

August 21, 2024 | 1:25 pm

AADI

Aadi Bioscience Inc. (NASDAQ:AADI) announced the halt of its PRECISION1 trial for nab-sirolimus in solid tumors due to insufficient efficacy for accelerated approval. The company will focus on cash preservation and its commercial product, Fyarro, while pausing new enrollments in other trials. Aadi's stock fell 14.8% following the news.

Portfolio Pulse from Vandana Singh

August 21, 2024 | 1:07 pm

KULR

KULR Technology Group, Inc. announced the resignation of Keith Cochran as President and COO, effective August 20, 2024, and the relocation of its principal executive office to Texas. The company has re-allocated operational oversight among its executive management.

Portfolio Pulse from Benzinga Newsdesk

August 21, 2024 | 12:36 pm

AADI

Aadi Bioscience shares fell after an Independent Data Monitoring Committee analysis indicated that their study is unlikely to meet the efficacy threshold for accelerated approval. The company is pausing new enrollment and cutting its R&D workforce by 80%.

Portfolio Pulse from Benzinga Newsdesk

August 21, 2024 | 11:58 am

RIVN

STLA

Tim Fallon, Rivian's Head of Manufacturing, has joined Stellantis as the head of manufacturing in North America. This move comes as Stellantis faces declining profits and revenues, and aims to revitalize its North American operations.

Portfolio Pulse from Anan Ashraf

August 21, 2024 | 9:17 am

AADI

Aadi Bioscience is planning to adjust its ongoing Phase 2 trials and significantly reduce its R&D headcount by 80%. This strategic move is aimed at extending the company's cash runway into at least the second half of 2026.

Portfolio Pulse from Benzinga Newsdesk

August 20, 2024 | 9:04 pm

BUD

Anheuser-Busch plans to lay off nearly 200 workers at its Medford, Massachusetts facility, with some employees potentially finding jobs under new ownership by Quality Beverage. The layoffs are part of a strategic transition to ensure long-term success and growth of Anheuser-Busch's brand portfolio.

Portfolio Pulse from Benzinga Newsdesk

August 20, 2024 | 7:58 pm

UPS

The Teamsters union plans to hold a rally outside UPS's McKinney facility on Wednesday, August 21. This event could indicate labor issues or disputes between the union and UPS.

Portfolio Pulse from Benzinga Newsdesk

August 20, 2024 | 7:02 pm

FIVN

Five9 has announced a reduction in its global workforce by 7%, with estimated costs ranging from $12 million to $15 million. This move is part of a strategic plan to optimize operations.

Portfolio Pulse from Benzinga Newsdesk

August 20, 2024 | 5:58 pm