Boeing shares are trading lower ahead of the September 12 expiration of the company's contract with the International Association of Machinists, which could lead to a potential strike. Additionally, Wells Fargo downgraded the stock from Equal-Weight to Underweight.
Portfolio Pulse from Benzinga Newsdesk
Boeing shares are declining due to the upcoming expiration of a contract with the International Association of Machinists, which may result in a strike. Additionally, Wells Fargo has downgraded Boeing's stock from Equal-Weight to Underweight.
September 03, 2024 | 11:57 am
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Boeing's stock is under pressure due to the potential for a machinists' strike as their contract nears expiration. Compounding this, Wells Fargo has downgraded the stock, signaling potential challenges ahead.
The potential strike by machinists could disrupt Boeing's operations, negatively impacting its stock. The downgrade by Wells Fargo further suggests a bearish outlook, likely leading to a short-term decline in stock price.
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