Streetbeat News

Labor Issues

BA

Boeing's machinists have rejected a proposed labor deal, prolonging a strike that has already cost the company $2 billion. The rejection adds uncertainty and potential delays to Boeing's recovery, with analysts estimating a $50 million daily cost. Boeing shares fell 1.36% following the news.

Portfolio Pulse from Erica Kollmann

October 24, 2024 | 4:38 pm

BA

TSLA

Boeing machinists have rejected a deal, extending their strike, while Tesla's stock surges following strong earnings. Additionally, Treasury yields have dropped.

Portfolio Pulse from Benzinga Newsdesk

October 24, 2024 | 3:35 pm

BA

Moody's believes Boeing can meet the IAM's pre-strike demand for a 40% compensation increase. The focus remains on Boeing's ability to raise new equity capital and achieve a 737 production rate of 38 per month, which are key factors in Moody's ratings review.

Portfolio Pulse from Benzinga Newsdesk

October 24, 2024 | 3:22 pm

BA

Moody's states that the recent rejection by the IAM has little impact on Boeing's Baa3 rating review. They believe an agreement will be reached with terms Boeing can handle, but IAM's pension demand is unlikely to be met. The strike resolution is crucial for production restart, not financial terms.

Portfolio Pulse from Benzinga Newsdesk

October 24, 2024 | 3:21 pm

GLD

SPY

UUP

The U.S. labor market shows strength with a significant drop in initial jobless claims, indicating fewer layoffs. However, continuing jobless claims have risen, suggesting some struggle to find employment. The market reacted positively, with S&P 500 futures rising, driven by strong earnings from Tesla.

Portfolio Pulse from Piero Cingari

October 24, 2024 | 1:12 pm

SPY

The latest report on initial jobless claims in the USA shows a decrease to 227,000, which is below the estimated 243,000 and the previous figure of 242,000. This indicates a stronger labor market than expected.

Portfolio Pulse from Benzinga Newsdesk

October 24, 2024 | 12:30 pm

TXT

Textron has lowered its FY24 adjusted EPS guidance due to a recent labor strike that affected production and delivery activities. The new guidance is $5.40-$5.60, down from $6.20-$6.40, with expected negative impacts on revenue and profit in Q4 2024.

Portfolio Pulse from Benzinga Newsdesk

October 24, 2024 | 10:35 am

BA

Boeing shares are experiencing a decline as its machinists have rejected a proposed deal, prolonging a five-week strike.

Portfolio Pulse from Benzinga Newsdesk

October 24, 2024 | 10:13 am

BA

Boeing's stock fell 3.01% in pre-market trading after reporting a 1% decline in Q3 revenue, missing estimates. The company faces challenges from labor strikes and operational issues, leading to a widened loss per share.

Portfolio Pulse from Pooja Rajkumari

October 24, 2024 | 9:30 am

AAPL

Apple is expanding its retail presence in India by hiring 400 new employees for upcoming stores in Bengaluru, Pune, Delhi-NCR, and Mumbai. This move follows the success of its existing stores in Mumbai and Delhi, which have generated significant revenue.

Portfolio Pulse from Ananthu C U

October 24, 2024 | 7:41 am