Streetbeat News

Labor Issues

GLYC

GlycoMimetics is set to recognize approximately $3.6 million in total charges due to a restructuring plan that includes reducing its workforce by 26 employees, which is about 80% of its total headcount.

Portfolio Pulse from Benzinga Newsdesk

July 30, 2024 | 7:58 pm

STLA

Stellantis N.V. (NYSE:STLA) shares are trading lower due to multiple developments. The company’s unit, Leapmotor International, has shipped its first batch of electric vehicles to Europe, marking a significant milestone. Additionally, Stellantis is offering voluntary buyouts to U.S. salaried workers as part of cost-cutting measures.

Portfolio Pulse from Nabaparna Bhattacharya

July 30, 2024 | 6:05 pm

SPR

Spirit AeroSystems has announced that it currently has no plans for layoffs or furloughs, providing reassurance to its workforce and investors.

Portfolio Pulse from Benzinga Newsdesk

July 30, 2024 | 3:26 pm

AEP

DIVZ

XLU

American Electric Power (AEP) reported mixed Q2 2024 results with revenue missing estimates but adjusted EPS beating expectations. The company announced job cuts and maintained its FY24 guidance. AEP also appointed a new CEO and plans significant future investments in energy resources.

Portfolio Pulse from Lekha Gupta

July 30, 2024 | 1:28 pm

EA

MSFT

SONY

WBD

SAG-AFTRA has initiated a strike affecting video game work under its Interactive Media Agreement, targeting companies like Microsoft’s Activision Blizzard, Electronic Arts, Sony’s Insomniac Games, and Warner Bros. Discovery’s WB Games. The strike is driven by concerns over AI protections.

Portfolio Pulse from Franca Quarneti

July 30, 2024 | 12:25 pm

TTWO

SAG-AFTRA has initiated a strike involving video game voice actors, affecting many games in development. However, Take-Two Interactive's Grand Theft Auto 6 remains unaffected due to an existing agreement. The strike primarily revolves around AI protections, with both sides expressing willingness to negotiate.

Portfolio Pulse from Franca Quarneti

July 29, 2024 | 8:55 pm

TERN

Terns Pharmaceuticals announced that CFO Mark Vignola will leave following the appointment of his successor. The company has also appointed Elona Kogan as Chief Legal Officer. CEO Amy Burroughs emphasized Kogan's leadership and industry knowledge as crucial for the company's growth. Bryan Yoon will remain with the company through September 3, 2024.

Portfolio Pulse from Benzinga Newsdesk

July 29, 2024 | 8:28 pm

COST

Teamsters Local 822 in Norfolk, VA, have voted to authorize a strike against Costco ahead of national contract negotiations.

Portfolio Pulse from Benzinga Newsdesk

July 29, 2024 | 3:54 pm

BHP

CRIT

HAP

BHP Group Ltd's Escondida mine in Chile faces a potential strike as the union urges its 2,400 members to reject the company's final contract offer. A strike could severely impact copper production and global prices. The union is well-prepared with a significant strike logistics fund and credit agreements. BHP shares are trading lower by 1.14%.

Portfolio Pulse from Shivani Kumaresan

July 29, 2024 | 3:26 pm

AMZN

Amazon's Twitch faces profitability issues and slowed growth, raising concerns about its future. Despite generating significant revenue, Twitch remains unprofitable and has undergone multiple layoffs. Amazon's overall revenue expectations are also below consensus estimates.

Portfolio Pulse from Anusuya Lahiri

July 29, 2024 | 1:53 pm