Boeing Nears Agreement With Locked-Out Firefighters, Voting Expected: Report
Portfolio Pulse from Shivani Kumaresan
Boeing Company (NYSE:BA) and a union representing its firefighters have reached a tentative contract agreement, potentially ending a lockout that began in early May. The agreement will be voted on Thursday, and if approved, firefighters will return to work on Saturday. Boeing's stock has declined over 14% in the past year, and the company is also negotiating with the International Association of Machinists and Aerospace Workers (IAM) for a new contract. Boeing's 737 MAX production has decreased due to intensified FAA inspections. Investors can gain exposure to Boeing via IShares U.S. Aerospace & Defense ETF (BATS:ITA) and Invesco Aerospace & Defense ETF (NYSE:PPA).
May 29, 2024 | 11:45 am
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Boeing has reached a tentative agreement with its firefighters' union, potentially ending a lockout that began in early May. The agreement will be voted on Thursday, and if approved, firefighters will return to work on Saturday. Boeing is also negotiating with IAM for a new contract for 30,000 workers. The company's 737 MAX production has decreased due to intensified FAA inspections.
The tentative agreement with the firefighters' union, if approved, will end the lockout and potentially improve labor relations, which is positive for Boeing. Additionally, ongoing negotiations with IAM and FAA inspections on 737 MAX production are critical factors for the company's operations.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Investors can gain exposure to Boeing through the IShares U.S. Aerospace & Defense ETF (BATS:ITA). The ETF may see a positive impact if Boeing's labor issues are resolved and production stabilizes.
The resolution of Boeing's labor issues and stabilization of production could positively impact the IShares U.S. Aerospace & Defense ETF, which includes Boeing as a significant holding.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Investors can gain exposure to Boeing through the Invesco Aerospace & Defense ETF (NYSE:PPA). The ETF may see a positive impact if Boeing's labor issues are resolved and production stabilizes.
The resolution of Boeing's labor issues and stabilization of production could positively impact the Invesco Aerospace & Defense ETF, which includes Boeing as a significant holding.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50