Streetbeat News

Labor Issues

ZIM

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) shares are down 13.5% after the International Longshoremen’s Association suspended its strike, following a tentative deal with the United States Maritime Alliance. The deal includes a significant pay increase and worker protections, with further negotiations ongoing.

Portfolio Pulse from Dylan Berman

October 04, 2024 | 4:19 pm

LULU

Lululemon Athletica's stock rose by 3.28% following the resolution of a port strike, which threatened supply chain disruptions. The tentative agreement between dockworkers and port operators ensures smooth operations ahead of the holiday season, benefiting retailers like Lululemon.

Portfolio Pulse from Henry Khederian

October 04, 2024 | 4:18 pm

LAZR

LOBO

MBLY

TSLA

WKHS

Auto-related companies' shares are rising following a tentative agreement to suspend the dockworkers' strike.

Portfolio Pulse from Benzinga Newsdesk

October 04, 2024 | 4:00 pm

ANF

DECK

DKS

FORD

LULU

SKX

VFC

Apparel-related companies' shares are rising as dockworkers suspend their strike following a tentative agreement.

Portfolio Pulse from Benzinga Newsdesk

October 04, 2024 | 3:36 pm

STLA

UAW members at a Stellantis parts center in Los Angeles have overwhelmingly voted to authorize a strike if the company does not make U.S. investments. This is the first strike authorization vote at Stellantis.

Portfolio Pulse from Benzinga Newsdesk

October 04, 2024 | 3:17 pm

SPY

In a Bloomberg TV interview, Fed's Goolsbee stated that a broad set of data indicates the labor market is cooling. He also mentioned that if productivity continues to boom, it could imply higher growth and a higher neutral rate.

Portfolio Pulse from Benzinga Newsdesk

October 04, 2024 | 2:15 pm

SPY

Federal Reserve's Goolsbee praises the latest jobs report as 'superb' and highlights the end of the port strike as positive news for the US economy. He cautions against overreacting to a single data point.

Portfolio Pulse from Benzinga Newsdesk

October 04, 2024 | 2:05 pm

SAVE

SPY

Spirit Airlines is considering bankruptcy, which could significantly impact its operations and stock price. Meanwhile, the September unemployment rate and nonfarm payrolls data show strong economic indicators. A dockworker strike has been suspended following a tentative offer.

Portfolio Pulse from Benzinga Newsdesk

October 04, 2024 | 1:39 pm

AMZN

TGT

WMT

Amazon plans to hire 250,000 workers for the 2024 holiday season, maintaining the same hiring level as 2023. This move highlights the retail industry's need for additional workforce during peak seasons. Amazon has also increased hourly wages for its employees. Meanwhile, the NLRB has charged Amazon with unfair labor practices related to union activities. Other retailers like Target and Walmart are also increasing their workforce and wages.

Portfolio Pulse from Anusuya Lahiri

October 04, 2024 | 1:32 pm

SPY

The USA private nonfarm payrolls for September reported an increase of 223,000 jobs, significantly surpassing the estimated 125,000. This indicates a stronger labor market than anticipated.

Portfolio Pulse from Benzinga Newsdesk

October 04, 2024 | 12:31 pm