Streetbeat News

Labor Issues

ARKK

IVW

TSLA

Tesla Inc (NASDAQ:TSLA) is hiring nearly 800 new employees, focusing on AI, robotics, and energy storage. This comes three months after significant layoffs. The stock is trading higher premarket. Investors can gain exposure to Tesla through iShares S&P 500 Growth ETF (NYSE:IVW) and ARK Innovation ETF (NYSE:ARKK).

Portfolio Pulse from Anusuya Lahiri

July 16, 2024 | 1:07 pm

SNDL

SNDL Inc. has announced a restructuring project aimed at reducing corporate overheads, which includes the reduction of 106 full-time employees. The project is expected to save over $20 million annually, with a one-time investment of $11 million over the next 18 months. Savings are expected to be realized by mid-2025, with some benefits starting in Q3 2024.

Portfolio Pulse from Benzinga Newsdesk

July 16, 2024 | 11:03 am

CRM

INTU

MSFT

PATH

VOO

VTI

Salesforce, Inc. (NYSE:CRM) has cut around 300 jobs to streamline operations amid a tech industry slowdown. This follows previous layoffs in January 2024 and 2023. Other tech companies like Intuit Inc. (NASDAQ:INTU), UiPath Inc. (NYSE:PATH), and Microsoft Corp. (NASDAQ:MSFT) have also announced layoffs. Salesforce stock has gained over 10% in the last 12 months, and investors can gain exposure via Vanguard S&P 500 ETF (NYSE:VOO) and Vanguard Total Stock Market ETF (NYSE:VTI).

Portfolio Pulse from Lekha Gupta

July 16, 2024 | 10:23 am

TSLA

Elon Musk's Tesla and xAI are hiring networking engineers in Memphis to support their AI expansion plans. This move comes amid fierce competition for AI talent and significant investments in AI infrastructure by Tesla.

Portfolio Pulse from Benzinga Neuro

July 16, 2024 | 9:33 am

AAPL

AMZN

META

NVDA

TSLA

A Benzinga survey revealed that readers most want to work for Elon Musk and least want to work for Mark Zuckerberg among five tech moguls. The survey also highlighted the mixed feelings towards Musk, who topped both the 'most wanted' and 'refuse to work for' lists. Jensen Huang of NVIDIA was seen favorably, ranking second in desirability and second to last in refusal.

Portfolio Pulse from Chris Katje

July 15, 2024 | 11:41 pm

SPY

The 1.3-million member Teamsters Union is considering not endorsing either President Joe Biden or former President Donald Trump in the upcoming election, according to sources cited by Reuters.

Portfolio Pulse from Benzinga Newsdesk

July 15, 2024 | 6:27 pm

INTC

Intel has launched the first U.S. registered apprenticeship program for manufacturing facility technicians in Arizona. The program, in collaboration with several organizations, will train technicians over five years, with apprentices becoming full-time Intel employees from day one and earning a certificate and college credit upon completion.

Portfolio Pulse from Benzinga Newsdesk

July 15, 2024 | 6:00 pm

AMIX

DJT

FSLR

SEDG

TSLA

SolarEdge Technologies, Inc. (NASDAQ:SEDG) shares fell 12.2% after announcing a workforce reduction of 400 employees. Other notable stock movements include Autonomix Medical, Inc. (NASDAQ:AMIX) climbing 148% and Trump Media & Technology Group Corp. (NASDAQ:DJT) rising 32.8% following an attempted assassination of Donald Trump.

Portfolio Pulse from Avi Kapoor

July 15, 2024 | 5:23 pm

CRM

INTU

Salesforce has announced the layoff of approximately 300 employees as part of its efforts to find the 'right structure' for the company. This move follows similar job cuts by other tech companies, including Intuit.

Portfolio Pulse from Benzinga Newsdesk

July 15, 2024 | 5:03 pm

RAYS

SEDG

TAN

SolarEdge Technologies, Inc. (NASDAQ: SEDG) announced it will lay off 400 employees in 2024 due to market downturns and inventory challenges. The company is also seeing slower growth in Europe's solar industry but some growth in North America. Despite these challenges, SolarEdge is expanding its U.S. manufacturing, creating new jobs. SEDG shares are down 11.1%. Investors can also gain exposure via Invesco Solar ETF (NYSE: TAN) and Global X Solar ETF (NASDAQ: RAYS).

Portfolio Pulse from Lekha Gupta

July 15, 2024 | 2:59 pm