Streetbeat News

Labor Issues

DIS

RLNIY

Walt Disney Co. (NYSE:DIS) shares are down 1.68% due to concerns raised by India's antitrust body about its $8.5 billion merger with Reliance Industries' media assets. Additionally, a potential strike by Teamsters at Disneyland could impact operations.

Portfolio Pulse from Vaishali Prayag

July 22, 2024 | 8:18 pm

DIS

Walt Disney shares are trading lower following a report suggesting that Disneyland Teamsters voted to authorize a strike.

Portfolio Pulse from Benzinga Newsdesk

July 22, 2024 | 7:51 pm

MJ

The Minority Cannabis Business Association (MCBA) has submitted a public comment advocating for the DEA to reschedule marijuana from Schedule I to Schedule III. This move could create over 50,000 jobs by 2030 and provide significant tax relief to cannabis businesses, which currently face high tax burdens due to IRS Code 280E. The rescheduling could lead to $2.7 billion in additional wages and $5.6 billion in new economic activity.

Portfolio Pulse from Rolando García

July 22, 2024 | 7:39 pm

DIS

The Walt Disney Company (NYSE:DIS) faces potential challenges as over 14,000 Disneyland workers authorize a strike, citing unfair labor practices. This could be the first strike at Disneyland since 1984. The strike authorization follows recent successes in Disney's movie segment but could impact the theme park segment significantly.

Portfolio Pulse from Chris Katje

July 22, 2024 | 6:46 pm

DIS

Teamsters at Disneyland have voted by an overwhelming 99% to authorize a strike, which could impact operations at the theme park.

Portfolio Pulse from Benzinga Newsdesk

July 22, 2024 | 2:42 pm

MEIP

MEI Pharma, Inc. (NASDAQ:MEIP) announced it will consider strategic alternatives, including potential transactions or an orderly wind down, to maximize asset value for stockholders. The company will commence a reduction-in-force and discontinue the clinical development of voruciclib to preserve cash.

Portfolio Pulse from Benzinga Newsdesk

July 22, 2024 | 12:33 pm

RAPT

Rapt Therapeutics announced a workforce reduction of 47 people, approximately 40% of its existing headcount. The company estimates it will incur around $0.9 million in restructuring charges.

Portfolio Pulse from Benzinga Newsdesk

July 22, 2024 | 12:05 pm

DX

Dynex Capital, Inc. (NYSE:DX) has announced several executive promotions. Smriti Laxman Popenoe has been promoted to Co-CEO while retaining her roles as President and CIO. Rob Colligan has been promoted to COO in addition to his role as CFO. Harman Sahni has been hired as the new CTO.

Portfolio Pulse from Benzinga Newsdesk

July 22, 2024 | 11:53 am

BA

ITA

PPA

WWD

Boeing's Commercial Market Outlook predicts a need for 44,000 new airplanes by 2043, driven by emerging markets and single-aisle demand. The global fleet is expected to grow at 3.2% annually. Boeing also forecasts a $4.4 trillion demand for commercial services. Woodward, Inc. will supply solutions for Boeing's X-66A aircraft. Boeing faces a potential strike from Washington state factory workers. Boeing's stock has declined over 16% in the past year.

Portfolio Pulse from Lekha Gupta

July 22, 2024 | 10:23 am

MSFT

SONY

WBD

NetherRealm Studios, a subsidiary of Warner Bros Discovery Inc (NASDAQ:WBD), has disbanded its mobile team and announced the shutdown of Mortal Kombat: Onslaught. This move is part of a broader trend of layoffs in the gaming industry, with companies like Microsoft Corp. (NASDAQ:MSFT) and Sony Group Corp. (NYSE:SONY) also reducing their workforce.

Portfolio Pulse from Franca Quarneti

July 19, 2024 | 8:17 pm