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JPMorgan Beat Caps Off Seven-Week Surge

<a href="https://www.globenewswire.com/Tracker?data=12CsIRv3JJlHPK-1CjIDKPp6hrKr8nyhsQQ8wgMlkPDDZQYiYDSKzO_tflpY6N0KhQMJCZP0kF-fa2ECmwUOlCSHT00XVkVdT4PUFozPmhI=">Toll Brothers, Inc.</a>&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TOL#NYSE">TOL</a>), the nation's leading builder of luxury homes, today announced the upcoming opening of its new&nbsp;<a href="https://www.globenewswire.com/Tracker?data=gc19oI2RYHKmgRaZrvd4815iCDGWOin6gHdD-qPfSZGe3m4Vwa6OrzUZbvwN-JEZXl0Ly0bHww8e3_OPupTYpXzO6IF90_wr27p5rj47QGFFKfxzVQFPMxkECs1V6XJfNG2P1qjbwbQp_cJ4ELZPk3nuin02jy6_CsDEpnVD8RLl-nzwhJ1pJPXpx1Yse4g2">Saddlecrest at Windermere</a>&nbsp;community in Windermere, Florida. This exclusive Orlando-area community will feature luxury single-family homes situated on up to half-acre home sites, many with water views and direct access to Lake Roberts. Construction is underway on the new Toll Brothers model home, and the community is expected to open for sales in spring 2025.

News

Reported Earlier, Toll Brothers to Launch Saddlecrest at Windermere: Luxury Lakefront Living Coming to Orlando Area in 2025

<a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4337434-1&amp;h=175162631&amp;u=http%3A%2F%2Fwww.jll.com%2F&amp;a=JLL">JLL</a>'s Capital Markets group announced today it has arranged a $300 million refinancing for the Omni Nashville Hotel, an 800-key luxury hotel in downtown Nashville.
JLL worked on behalf of the borrower, TRT Holdings, Inc., to secure a fixed-rate, seven-year loan through a U.S.-based insurance company and AllianceBernstein Commercial Real Estate Debt, in its capacity as advisor to Equitable Financial Life Insurance Company.
The 21-story Omni Nashville Hotel opened in 2013 and features over 80,000 square feet of meeting space, including Nashville's largest hotel ballroom at 23,800 square feet. The LEED Silver certified property offers multiple dining options like Bob's Steak &amp; Chop House, Kitchen Notes and Barlines, as well as a 5,500-square-foot Mokara spa, rooftop pool and state-of-the-art fitness center.
Located at 250 Rep. John Lewis Way South, the hotel is seamlessly integrated with the Country Music Hall of Fame and Museum and sits across from the 2.1 million-square-foot Music City Center convention facility. The property benefits from Nashville's booming tourism and corporate sectors, with over 14 million annual visitors and major employers expanding in the market.

Reported Earlier, JLL Secures $300M Refinancing for Omni Nashville Hotel, Boosting Downtown Landmark's Growth Potential

<ul>
<li>QIAcuity digital PCR now offers ability for simultaneous detection of up to 12 targets from one biological sample, a more than two-fold increase from prior capability for up to five targets</li>
<li>No instrument hardware changes required for upgraded capability thanks to new QIAcuity Software 3.1 update and launch of QIAcuity High Multiplex Probe PCR Kit</li>
<li>New QIAcuity digital PCR capabilities helps make lab work more productive and cost-efficient through savings on time, reagents consumption and use of precious sample materials</li>
</ul>

QGEN

QIAGEN Enhances QIAcuity Digital PCR With High-Order Multiplexing For Simultaneous Detection Of Up To12 Targets

Intellia Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTLA#NASDAQ">NTLA</a>), a leading clinical-stage gene editing company focused on revolutionizing medicine with CRISPR-based therapies, today announced its strategic priorities and key anticipated 2025 milestones that support the Company's mission to transform the lives of patients and bring forth a new era in medicine.
Recent Pipeline Advancement and Corporate Updates
<ul>
<li>Strategic Reorganization Focused on Key Value Drivers:
<ul>
<li>The pipeline prioritization is intended to focus resources on high value programs - NTLA-2002 and nex-z - to ensure efficient execution, achieve near-term clinical milestones, and prepare Intellia for commercial launch. As part of this prioritization, the Company discontinued development of NTLA-3001 for the treatment of alpha-1 antitrypsin deficiency-associated lung disease and select research-stage programs. Over the course of 2025, the strategic reorganization will result in a net workforce reduction of approximately 27%.</li>
<li>The Company expects to incur charges of approximately $8 million associated with the reorganization, which are anticipated to be incurred in the first quarter of 2025.</li>
<li>Intellia ended the fourth quarter of 2024 with approximately $862 million in cash, cash equivalents and investments. The combination of its cash balance and the anticipated cost savings are expected to provide the Company with cash runway into the first half of 2027.</li>
<li>Laura Sepp-Lorenzino, Ph.D., Intellia's Chief Scientific Officer, has announced her retirement effective December 31, 2025 after more than 30 years of service in the biopharmaceutical industry and academia. Dr. Sepp-Lorenzino will transition from her role as CSO and continue as a Senior Scientific Advisor for the remainder of the year. "I would like to thank Laura for her service to Intellia. She has been a tireless innovator and advocate for the promise of gene editing, and we look forward to continuing the work and vision she championed," said John Leonard M.D., President and Chief Executive Officer of Intellia.</li>
<li>The Company also announced that Birgit Schultes, Ph.D., who has been leading Immunology and Cell Therapy since 2017, will be promoted to Executive Vice President and Chief Scientific Officer, effective January 13, 2025. Dr. Schultes has over 20 years of experience in drug development and biotechnology, including the clinical development of cell therapies and complex biologic products. Dr. Schultes received her M.S. in biology and Ph.D. in immunology from the University of Bonn, Germany, and completed the Advanced Management Development Program at the Boston University Questrom School of Business.</li>
</ul>
</li>
<li>NTLA-2002 for Hereditary Angioedema (HAE):
<ul>
<li>Patients are actively enrolling in the pivotal Phase 3 HAELO study.</li>
<li>Presented clinical data, in October at the 2024 American College of Allergy, Asthma &amp; Immunology (ACAAI) Scientific Meeting, from the Phase 2 study that demonstrated the potential of NTLA-2002 to end chronic, prophylaxis treatment and provide freedom from attacks following a one-time infusion.</li>
</ul>
</li>
<li>Nex-z for Transthyretin (ATTR) Amyloidosis:
<ul>
<li>Strong enrollment and momentum continue in the Phase 3 MAGNITUDE study in patients with ATTR amyloidosis with cardiomyopathy (ATTR-CM), tracking ahead of the Company's target enrollment projections.</li>
<li>Patients with hereditary ATTR amyloidosis with polyneuropathy (ATTRv-PN) are actively screening in the Phase 3 MAGNITUDE-2 study.</li>
<li>Presented first clinical evidence, in November at the 2024 American Heart Association (AHA) Scientific Sessions, that consistent, rapid, deep and durable reductions in serum TTR achieved after a one-time treatment of nex-z may halt, and potentially reverse, disease progression.</li>
</ul>
</li>
</ul>
Strategic Priorities and Anticipated 2025 Milestones
Intellia's strategic priorities reflect the Company's ongoing evolution from a late-stage development company to a commercial-ready organization by the end of 2026.
1. Drive focused clinical execution to complete or accelerate enrollment in the pivotal studies of NTLA-2002 and nex-z
<ul>
<li>NTLA-2002 for HAE: 
<ul>
<li>Dose the first patient in the pivotal Phase 3 HAELO trial in 1Q25.</li>
<li>Complete HAELO enrollment in second half of 2025.</li>
<li>Present longer-term data from the Phase 1/2 study – data will include patients in the Phase 2 portion who initially received a 25 mg dose or placebo and were subsequently given the 50 mg dose of NTLA-2002 selected for the Phase 3 study</li>
</ul>
</li>
<li>Nex-z for ATTR amyloidosis:
<ul>
<li>Dose the first patient in the pivotal Phase 3 MAGNITUDE-2 trial for ATTRv-PN in 1Q25.</li>
<li>Enroll at least 550 patients cumulatively within the MAGNITUDE trial for ATTR-CM.</li>
<li>Present longer-term data from both ATTR-CM and ATTRv-PN patients in the Phase 1 study – data will include updated measures of clinical efficacy and safety. &nbsp;</li>
</ul>
</li>
</ul>
2.&nbsp;Advance commercial readiness by implementing core commercialization and medical capabilities for initial launch in the U.S.
<ul>
<li>Complete buildout of the commercial leadership team by second half of 2025. &nbsp;</li>
<li>Expand the reach of medical education activities in HAE and ATTR amyloidosis in partnership with key medical societies and patient organizations.</li>
<li>Initiate pre-approval information exchange to allow payers to begin planning for coverage and formulary decisions.</li>
</ul>

NTLA

Reported Earlier, Intellia Therapeutics Reorganizes Pipeline, Prioritizes Key Gene-Editing Programs, and Reduces Workforce by 27%

<ul>
<li>New QIAstat-Dx Gastrointestinal Panel 2 Mini B&amp;V (bacterial and viral) tailored to provide fast answers for outpatient diagnosis of gastrointestinal conditions</li>
<li>QIAGEN the first to offer both comprehensive and targeted syndromic gastrointestinal panels, giving clinicians unmatched flexibility to optimize diagnostics for individual patients</li>
<li>QIAstat-Dx Rise higher-capacity instrument version to be submitted in early 2025 for U.S. regulatory clearance, builds on groundbreaking 2024 clearances of four QIAstat-Dx Panels</li>
</ul>

Reported Earlier, QIAGEN Gains FDA Clearance For QIAstat-Dx Mini Gastrointestinal Panel, Supporting Year-Round Outpatient Care

<ul>
<li>During the fourth quarter, we acquired 29 new properties for $103.4 million at a weighted average cash capitalization rate of 7.9% and a weighted average lease term of 11.0 years. The acquisitions were spread across 7 industries, 17 tenants, and 16 states, including 12 new tenants and four new states.</li>
<li>Subsequent to quarter-end, we acquired one property for $2.0 million and have signed PSAs for an additional $53.0 million of properties.</li>
<li>On December 30, 2024, we drew down on our $200 million delayed-draw term loan in full. The term loan has a five-year duration after consideration of extension options and bears interest at adjusted SOFR plus 1.2%.</li>
<li>On December 30, 2024, we repaid in full our $253 million ABS notes using proceeds from the $200 million delayed-draw term loan, revolver borrowings, and available cash on hand.</li>
</ul>

Reported Earlier, FrontView REIT Acquires 29 Properties Across 16 States in Q4 for $103.4M, $200M Term Loan Drawdown Enables Full Repayment of ABS Notes, Expands Tenant and Geographic Footprint

PECO

Reported Earlier, Phillips Edison & Company Extends Maturity And Upsizes Revolving Credit Facility To $1B

2024 silver production was 9.68 million ounces, compared with guidance as upwardly revised in October 2024, of 9.2 million ounces to 9.7 million ounces. Silver equivalent production was 15.57 million ounces, slightly above the high end of guidance at 15.5 million ounces as upwardly revised in October 2024. Zinc production of 69.7 million pounds, lead production of 46.4 million pounds, and gold production of 5.53 thousand ounces were all slightly above the high end of guidance, which did not change during 2024.

GATO

Reported Earlier, Gatos Silver Reported 9.68 Million Ounces Of Silver Produced In 2024, Meeting Revised Guidance

Vision Marine Technologies Inc. (the "Company", "Vision Marine", "we", "us", "our") (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VMAR#NASDAQ">VMAR</a>), a leading innovator in electric marine propulsion, announces the establishment of a production line for custom cooling plates in partnership with Calip Group, a leader in high-tech welding processes. Under this collaboration, Calip Group will supply components that enhance the thermal management of Vision Marine's high-voltage (HV) marine battery packs. These custom cooling plates are specifically tailored to meet the stringent demands of marine applications, with production slated to begin in 2025.

VMAR

Reported Earlier, Vision Marine Partners with Calip Group to Produce Advanced Cooling Plates for Electric Boat Batteries

<a href="https://www.globenewswire.com/Tracker?data=GEQlO9c5hAxd2jm1q36Vyy9W8TgMiQ8LTdDh8EHqKC_omGk1qlS05LH4cIPt5tD0fyXLPSDIA7u4mTqJkyMkzW8MF_jsSmuPHl1XG-WFCys=">Mural Oncology plc</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MURA#NASDAQ">MURA</a>), a clinical-stage immuno-oncology company developing novel, investigational engineered therapies targeting cytokine pathways designed to address areas of unmet need for patients with a variety of cancers, today announced it has reached the 75% of overall survival (OS) events necessary for the planned interim analysis of ARTISTRY-7, its potentially registrational trial of&nbsp;nemvaleukin in combination with pembrolizumab in platinum resistant ovarian cancer (PROC), and that it has extended its cash runway projection into Q1 2026 beyond key upcoming catalysts.
The company expanded its pipeline in Q4 2024, by nominating two development candidates, one for its interleukin-18 (IL-18) program and one for its IL-12 program. MURA-8518 is designed to be a half-life extended, binding protein-resistant IL-18 in order to overcome the native cytokine's limitations as a therapeutic. Mural expects to submit an Investigational New Drug (IND) Application or Clinical Trial Application (CTA) for a phase 1 trial of MURA-8518 in Q4 2025. MURA-7012 is comprised of targeted split IL-12 sub-units that preferentially self-assemble at the tumor site and are designed to limit systemic exposure.

MURA

Mural Oncology Achieves 75% OS Events for ARTISTRY-7 Trial and Extends Cash Runway Through Q1 2026

TSMC ((TWSE: 2330, NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) today announced its net revenue for December 2024: On a consolidated basis, revenue for December 2024 was approximately NT$278.16 billion, an increase of 0.8 percent from November 2024 and an increase of 57.8 percent from December 2023. Revenue for January through December 2024 totaled NT$2,894.31 billion, an increase of 33.9 percent compared to the same period in 2023.
<img src="https://pr.tsmc.com/system/files/news/8df762c621bbd0b33a8189472d9fefbc33b0010f/Dec%202024%20%28E%29.jpg" alt="TSMC December 2024 Revenue Report" />

Earnings

Taiwan Semiconductor Reported Revenue Growth Of 57.8% YoY In December 2024

Royalty Pharma board of directors has declared a dividend for the first quarter of 2025 of $0.22 per Class A ordinary share, reflecting a 5% increase in the company's quarterly dividend over the previous quarter's dividend.
The dividend will be paid on March 10, 2025 to shareholders of record at the close of business on February 21, 2025.

Dividends

RPRX

Reported Earlier, Royalty Pharma Increases Quarterly Dividend By 5% To $0.22/Share, Payable March 10

<ul>
<li>Partnership seeks to improve patient outcomes and experience through novel digital and diagnostic solutions.</li>
<li>Investment aligns with Danaher's mission to accelerate the transition to precision medicine with AI-enabled diagnostics.</li>
</ul>

Reported Earlier, Danaher Forms Investment Partnership With Innovaccer To Advance AI-Driven Precision Diagnostics

EV giant Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) has launched a refreshed version of its best-selling Model Y SUV in China, in a bid to refresh its aging vehicle amid rising competition.
What Happened: The new Model Y, Tesla says on the website, has a &#8220;longer range, new design and higher quality interior,&#8221; among other changes.
The launch series of the refreshed vehicle starts at 263,500 yuan on Tesla&#8217;s website, nearly 5.4% pricier than the older version of the vehicle which started at 249,900 yuan. Launch series refers to the first vehicles manufactured by the company with exclusive logos, similar to the foundation series of the company&#8217;s Cybertruck. 
Deliveries of the new vehicle are expected to start in March, the company says on its website, while noting that the date of first deliveries would depend upon regulatory approval. 
Variants: Tesla&#8217;s China website currently has only two variants of the new Model Y listed on it &#8211; the rear-wheel drive and the long-range all-wheel drive, starting at 263,500 yuan and 303,500 yuan, respectively. While the lower-priced variant has an estimated range of 593 km, the long-range variant has an estimated range of 719 km, up from 688 km on the older vehicle.
The Performance variant of the vehicle is not listed on the website. Tesla did not offer a Performance variant of the refreshed Model 3 at the onset either. The high-end variant was added later. 
Why It Matters: Tesla launched a <a href="https://www.benzinga.com/news/24/02/36921718/youtuber-marques-brownlee-reviews-refreshed-model-3-calls-it-teslas-most-important-car-i-am-impresse">refreshed Model 3 in Aug. 2023 </a>in China and in the U.S. months later in January 2024. The refreshed Model Y, therefore, will also likely take a few more months before it is launched in the U.S. 
The Model Y is the latest Tesla vehicle to be released in China. The Cybertruck, launched by the company in the U.S. in Nov. 2023, was not released in the Asian country. 
China is an important market for Tesla. In 2024, the company reportedly&nbsp;<a href="https://www.benzinga.com/25/01/42782683/tesla-hits-record-ev-sales-in-china-despite-global-dip" target="_blank" rel="noreferrer noopener">sold around 657,000 vehicles in China</a>, marking a growth of 8.8% year-on-year, even while its global annual deliveries fell as compared to 2023.
Tesla reported global&nbsp;<a href="https://www.benzinga.com/trading-ideas/movers/25/01/42766117/tesla-stock-tumbles-on-q4-deliveries-whats-going-on" target="_blank" rel="noreferrer noopener">deliveries of 1.79 million</a>&nbsp;vehicles in 2024, down from full-year deliveries of 1.81 million in 2023 and marking the first decline in over a decade.
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/25/01/42891397/non-foundation-series-cheaper-cybertrucks-join-tesla-inventory" target="_blank" rel="noreferrer noopener">Tesla&#8217;s Inventory Now Includes Non-Foundation Series Cybertrucks</a></li>
</ul>
Photo courtesy: Shutterstock

Tech

TSLA

Tesla Launches Refreshed Model Y In China Amid Rising Competition

Economists expect December&#8217;s non-farm payrolls to soften as compared to November in Friday&#8217;s official monthly jobs report, to be released by the Bureau of Labor Statistics at 8:30 a.m. ET.
What Happened: December&#8217;s job report will be &#8220;the first clean monthly employment report after October,&#8221; said Ed Yardeni and Eric Wallerstein in their weekly economic report, adding that October witnessed hurricanes and strikes, and November&#8217;s jobs were boosted because of the returning workers.
Along with the employment report, other data to be announced on Friday include December&#8217;s unemployment rate and annual hourly wages report by 8:30 a.m. ET. The preliminary consumer sentiment data for January will be announced at 10:00 a.m., ET.
TradingEconomics compiled economist consensus expects nonfarm payrolls to show a net gain of 154,000 jobs in December, down sharply from the 227,000 added in November. On the other hand, Bloomberg&#8217;s consensus estimate stands at 165,000 jobs.
The principal and chief economist at RSM US, Brusuelas expects 180,000 new jobs in December and a 4.2% unemployment rate.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">December 2024 Jobs Report: Bloomberg consensus is 165K, top ten ranked forecasters consensus is 167K. I expect a 180K net change in total employment-risk is a stronger print due to seasonal issues-and a 4.2% unemployment rate. Average hourly earnings should increase 0.3% m/m &amp; 4%… <a href="https://t.co/RYwd0fZWk8">pic.twitter.com/RYwd0fZWk8</a>
&mdash; Joseph Brusuelas (@joebrusuelas) <a href="https://twitter.com/joebrusuelas/status/1877362038747353088?ref_src=twsrc%5Etfw">January 9, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
However, according to Yardeni Research&#8217;s report, &#8220;December&#8217;s employment report should show payrolls rose between 175,000-200,000 to a new record high,&#8221; as it considers December to be a normal month without disruptions. They expect the gain in payroll employment to average around 200,000 per month by January.
The unemployment rate is projected to hold steady at 4.2%, and average hourly earnings are anticipated to increase by 0.3% month-over-month.
Additional hiring is likely with Trump 2.0 due to potential new policies, like deregulation and lower corporate taxes, along with increased certainty after the election, added Yardeni.
See Also: <a href="https://www.benzinga.com/markets/25/01/42902506/charlie-mungers-top-pick-costco-reports-strong-december-sales-analysts-expect-a-7-jump-in-january">Charlie Munger&#8217;s Top Pick Costco Reports Strong December Sales: Analysts Expect A 7% Jump In January </a>
Why It Matters: Alessandro S., the global market strategist and financial analyst at Macro Mornings said that the Fed has a dual mandate to achieve maximum employment and stable prices. &#8220;This means that in addition to controlling inflation, the Fed also aims to promote job creation and economic growth.&#8221;
A <a href="https://www.benzinga.com/economics/macro-economic-events/25/01/42881085/is-labor-market-cooling-or-raising-fed-concerns-what-to-watch-in-fridays-jobs-report">weaker-than-expected jobs report</a> on Friday could boost U.S. stocks, weaken the dollar, and lower government bond yields, as investors might see it as an indication that the Fed has room to ease monetary policy.
Conversely, stronger-than-expected job growth or a lower unemployment rate could raise concerns about a robust labor market, potentially delaying the Fed's timeline for easing.
The stock markets closed mixed on Wednesday in the truncated trading week. Treasury yields have recently spiked and the 10-year yields rose to 4.73% in Wednesday&#8217;s session, the highest since April 2024. Whereas, the 30-year yields neared a key 5% mark. All attention is now on jobs report, set for release today.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/25/01/42901348/nancy-pelosis-stock-pick-palo-alto-networks-gets-a-downgrade-from-top-investment-bank-as-sector-wide">Nancy Pelosi&#8217;s Stock Pick Palo Alto Networks Gets A Downgrade From Top Investment Bank As Sector-Wide Consolidation Down-Cycle Weighs on Sentiment</a></li>
</ul>
Photo courtesy: Shutterstock

Economics

US May Add Fewer Jobs In December With An Unchanged Unemployment Rate, Predict Economists

December 2024 Observations:
<ul>
<li>Supported by favorable move-in and move-out levels, December weighted average occupancy increased 100 basis points year-over-year, from 78.3% in 2023 to 79.3% in 2024.</li>
<li>Fourth quarter 2024 weighted average occupancy also increased 100 basis points compared to the prior year quarter.</li>
<li>Sequentially, fourth quarter 2024 weighted average occupancy increased 50 basis points compared to the third quarter, exceeding normal pre-pandemic seasonality for this period.</li>
<li>Fourth quarter 2024 move-in volume surpassed the prior year and exceeded the pre-pandemic average for this period by 8%.</li>
</ul>

Reported Earlier, Brookdale Senior Living Reports December 2024 Occupancy Increase To 79.3%, Up 100 Basis Points YoY

RKLB

Reported Earlier, Rocket Lab Expands NASA Partnership With Neutron Launch Services For VADR Payloads

"We are pleased to announce an approximately 7.5% increase to FSCO's monthly distribution," said&nbsp;Andrew Beckman, Head of FS Investments' Global Credit business and Portfolio Manager for FSCO. "Our new monthly distribution rate of&nbsp;$0.0645&nbsp;per share represents an increase of approximately 51.8% over the Fund's distribution at the time of the listing in November of 2022, and the second increase over the last twelve months. The Fund's dynamic credit strategy investing across both public and private markets, coupled with our experienced investment team and attractive portfolio, position us well to provide an attractive yield for our shareholders and deliver strong total returns."
The current annualized distribution rate equates to an annualized distribution yield1&nbsp;of 10.1% and 10.6%, respectively, based on the Fund's net asset value (NAV) and market price as of December 31, 2024. The monthly distribution has been fully covered by the Fund's net investment income throughout 2024, and the Fund has generated an estimated total return on NAV of 14.24% and 34.7% on market price year-to-date through December 31, 2024.

FSCO

Reported Earlier, FSCO Declares Monthly Distribution Of $0.0645 For January 2025, Reflecting A 7.5% Increase

Starbucks Corp.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>) is once again embroiled in labor disputes as its union has filed 34 new complaints&nbsp;with the National Labor Relations&nbsp;Board, marking a resurgence in tensions.
What Happened: The complaints, lodged by Starbucks Workers United, accuse the company of breaching federal labor laws, Bloomberg <a href="https://www.bloomberg.com/news/articles/2025-01-10/starbucks-union-files-34-federal-complaints-signaling-renewed-hostilities">reported</a> on Friday
Allegations include targeting and dismissing employees for their union activities across 16 states. These actions follow a previous complaint filed on Dec. 20, accusing Starbucks of unfair negotiation practices.
Starbucks has dismissed the allegations as unfounded. 
&#8220;Taking&nbsp;time to file such claims&nbsp;is a tactic that brings&nbsp;distraction from the progress we&nbsp;could be making,&#8221; said company spokesperson Phil Gee in an emailed statement to Bloomberg. The NLRB will investigate these cases, and if found credible, they could proceed to agency judges.
The recent filings and strikes reflect ongoing labor disputes reminiscent of those in 2022 and 2023. Despite earlier efforts to resolve differences, talks broke down over pay issues, with the union accusing Starbucks of inadequate economic proposals.
Why It Matters: The recent complaints come on the heels of a significant labor strike during the holiday season. Starbucks workers <a href="https://www.benzinga.com/markets/equities/24/12/42640897/starbucks-strike-expands-to-more-us-cities-as-wage-negotiations-stall-during-busy-holiday-season">expanded their strike </a>to more U.S. cities as wage negotiations stalled. The strike, which began in major cities like Los Angeles, Chicago, and Seattle, eventually spread to New Jersey, New York, Philadelphia, and St. Louis. Workers United demanded substantial wage increases, which Starbucks deemed &#8220;unsustainable.&#8221;
Further intensifying the situation, over <a href="https://www.benzinga.com/news/24/12/42666501/starbucks-faces-major-strike-on-christmas-eve-300-locations-affected-as-5000-workers-walk-out">300 Starbucks locations</a> were affected by a strike on Christmas Eve, involving more than 5,000 workers. Unresolved disputes over wages, staffing, and schedules were at the core of the strike. With over 60 stores in major cities shut, the ongoing labor unrest highlights the deepening rift between Starbucks and its employees.
Read Also: 
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/10/41478176/trump-media-mcdonalds-starbucks-philip-morris-and-tesla-why-these-5-stocks-are-on-investors-rada">Trump Media, Mcdonald&#8217;s, Starbucks, Philip Morris, And Tesla: Why These 5 Stocks Are On Investors&#8217; Radars Today</a></li>
</ul>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Image via Shutterstock

Equities

Markets

General

SBUX

Starbucks Faces 34 New Union Complaints Amid Rising Tensions with Workers

Under the agreement, Storm will act as an ambassador for the Myriad Genetics Breast Cancer Risk Assessment Program featuring the <a href="https://www.globenewswire.com/Tracker?data=e3VsfxUbo-yZkKbrkPomsnLaoTxIULLUg8SGhzOUD3LZsVTnph0ap0ONCJT2yjG7Ru0ZDySSBGuiWyqIAOc679R1p4wjBMWp_qS-Qp2fX0WOqAyNh_GjNdsmfUCND9P7KafrTRXVKCgUhT3KL4uAZSO2gzMV4eblYoFnZYFyHHH79mO2VhGLi_cscUCakM-H">MyRisk&#xAE; with RiskScore&#xAE; Hereditary Cancer Test</a>, the first and industry-leading hereditary cancer test and polygenic risk prediction test for all ancestries. She will promote the importance of collecting a detailed family health history for cancer and understanding the associated cancer risks.
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MYGN

Reported Earlier, Myriad Genetics Signs Agreement With Hannah Storm To Highlight Importance Of Knowing Family Cancer Risk

Altair Engineering Inc. - Class A Common Stock

RBC Capital

Needham

Rosenblatt

Loop Capital

Goldman Sachs

Motivated by JPMorgan Chase's big earnings beat, the bulls pushed Wall Street to another two-year high on Friday, giving the S&P 500 its first seven-week surge since before the Great Recession began.

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Friday, January 14, 2011

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