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Labor Issues

TCEHY

UBSFF

Tencent Holdings ADR denied rumors of layoffs and restructuring, while announcing leadership changes. The company clarified that no widespread job cuts are planned, and its subsidiary TiMi Studio Group is actively recruiting. Tencent is also in talks with Guillemot Brothers Ltd. regarding Ubisoft Entertainment SA, potentially leading to a buyout.

Portfolio Pulse from Franca Quarneti

October 29, 2024 | 7:03 pm

V

Visa is planning to lay off around 1,400 employees and contractors as part of a restructuring effort to streamline its international business. The layoffs are expected to occur by the end of the year.

Portfolio Pulse from Benzinga Newsdesk

October 29, 2024 | 6:47 pm

SPY

The USA JOLTS Job Openings for September reported 7.443 million openings, which is below the estimated 7.980 million and the prior 7.861 million. This indicates a potential cooling in the labor market.

Portfolio Pulse from Benzinga Newsdesk

October 29, 2024 | 2:00 pm

VWAGY

Volkswagen AG is planning to close three factories in Germany, leading to job cuts and wage reductions. This move is part of efforts to address challenges faced by the brand. The company is also dealing with high energy and labor costs, and a decline in electric vehicle deliveries.

Portfolio Pulse from Lekha Gupta

October 28, 2024 | 6:24 pm

BA

Boeing Co (NYSE:BA) shares are declining as the company launches a $19 billion stock offering amidst ongoing challenges, including a machinists strike and production halts. The offering aims to improve credit quality and address cash flow issues.

Portfolio Pulse from Adam Eckert

October 28, 2024 | 5:35 pm

VWAGY

Volkswagen plans to close at least three plants in Germany, reduce workforce, and cut pay due to competition in China and high production costs.

Portfolio Pulse from Benzinga Newsdesk

October 28, 2024 | 1:51 pm

BA

GM

SPY

TSLA

XRT

With the presidential election approaching, investor caution is evident, leading to a flat week for Wall Street. Treasury yields rose, and the IMF warned about U.S. debt. Tesla's stock surged 21% after announcing plans for affordable models. Boeing faces a prolonged strike, while GM's earnings exceeded expectations. Holiday spending is expected to rise, benefiting retail stocks.

Portfolio Pulse from Piero Cingari

October 25, 2024 | 8:40 pm

BA

Goldman Sachs analyst Noah Poponak maintains a bullish outlook on Boeing Co. (NYSE:BA) despite its weak Q3 performance, citing it as a 'long-term deep-value opportunity.' Poponak reaffirms a Buy rating with a $200 price target, highlighting robust aircraft demand, planned capital raises, and new leadership as key factors for recovery. Boeing's Q3 results showed revenue of $17.84 billion and a core EPS loss of $(10.44), with significant losses in the Commercial Airplanes segment due to production setbacks and a machinists' strike. The Defense, Space & Security division also faced challenges, while Global Services showed improved margins. Boeing plans to raise $18 billion to support its balance sheet amid ongoing labor disputes and production challenges.

Portfolio Pulse from Piero Cingari

October 25, 2024 | 3:23 pm

SAVE

Spirit Airlines shares rose following the announcement of the sale of 23 Airbus A320 aircraft and job cuts.

Portfolio Pulse from Benzinga Newsdesk

October 25, 2024 | 12:46 pm

BA

Boeing reported a $6 billion Q3 loss, its largest since 2020, amid a labor strike and turnaround efforts. Analysts suggest the strike is costing $50 million daily and emphasize the need to shore up the balance sheet. BofA maintains a Neutral rating with a $170 target, while RBC Capital reiterates an Outperform rating with a $200 target.

Portfolio Pulse from Erica Kollmann

October 24, 2024 | 10:10 pm