Streetbeat News

Labor Issues

BA

Boeing workers have voted against the company's latest proposal, leading to the continuation of the strike. This decision could impact Boeing's operations and financial performance in the short term.

Portfolio Pulse from Benzinga Newsdesk

October 24, 2024 | 3:23 am

ALGN

Align Technology projects Q4 2024 revenues between $995M and $1.015B, with a slight increase in Clear Aligner volume and ASP. The GAAP operating margin is expected to be slightly below 14% due to restructuring charges, while the non-GAAP margin is anticipated to rise slightly.

Portfolio Pulse from Benzinga Newsdesk

October 23, 2024 | 8:13 pm

BA

Boeing's shares are trading lower following a disappointing Q3 earnings report, with revenue and earnings missing expectations. The company faces challenges including a work stoppage by union members, high debt, and cultural issues. A new contract proposal is being voted on, which could end a costly strike.

Portfolio Pulse from Vaishali Prayag

October 23, 2024 | 7:08 pm

SLB

Schlumberger (SLB) recorded severance charges of $111 million in Q2 and $65 million in Q3 of 2024 as part of a restructuring program to optimize its support and service delivery structure.

Portfolio Pulse from Benzinga Newsdesk

October 23, 2024 | 4:46 pm

BA

Boeing shares are declining due to disappointing Q3 financial results. Additionally, union members are set to vote on a new contract proposal today.

Portfolio Pulse from Benzinga Newsdesk

October 23, 2024 | 3:48 pm

UPWK

Upwork shares rise as the company reports preliminary Q3 revenue guidance above estimates and announces organizational changes, including a workforce reduction.

Portfolio Pulse from Benzinga Newsdesk

October 23, 2024 | 1:12 pm

UPWK

Upwork Inc. announced organizational changes to drive profitable growth, including a 21% workforce reduction and $60M in annual cost savings. The company expects to exceed Q3 2024 revenue and EBITDA guidance, with preliminary revenue at $194M, surpassing the expected $179M-$184M range.

Portfolio Pulse from Benzinga Newsdesk

October 23, 2024 | 1:10 pm

BA

Boeing reported a 1% decline in Q3 2024 revenue to $17.854 billion, missing expectations. The adjusted loss per share increased significantly, and the company faced challenges from a work stoppage and program charges. CEO Ortberg emphasized cultural transformation and business stabilization.

Portfolio Pulse from Akanksha Bakshi

October 23, 2024 | 12:44 pm

BA

Boeing is set to report its Q3 2024 earnings amid financial struggles and a critical labor vote that could end a 41-day strike. The company is expected to post a significant loss, with revenues projected at $17.9 billion. A new labor deal could resume operations and ease financial strain. Boeing faces heavy charges from program delays, impacting cash flow and margins. The stock is down 38% YTD but has shown some recovery in October.

Portfolio Pulse from Piero Cingari

October 22, 2024 | 9:16 pm

OI

O-I Glass plans to close a furnace in its Americas segment as part of its Fit to Win initiative, aiming to reduce redundant capacity. The closure, affecting 150 employees, is expected to occur on or after November 18, 2024, with a $39 million charge anticipated in Q3 2024.

Portfolio Pulse from Benzinga Newsdesk

October 22, 2024 | 8:38 pm