Streetbeat News

Labor Issues

BA

Boeing plans to raise $25 billion through a mixed offering of common stock and has secured a $10 billion credit agreement. Analysts view this as a positive move to strengthen Boeing's balance sheet amid labor disputes and operational challenges.

Portfolio Pulse from Anthony Noto

October 15, 2024 | 5:37 pm

ULCC

Frontier Airlines pilots have voted overwhelmingly in favor of a strike, with 99% supporting the move and 97% participation in the vote. This development could impact Frontier Airlines' operations and financial performance.

Portfolio Pulse from Benzinga Newsdesk

October 15, 2024 | 4:58 pm

BA

Boeing is taking steps to improve its financial flexibility amidst operational challenges and a labor strike. Fitch Ratings notes Boeing's actions, including a $25 billion S-3 shelf registration and a $10 billion 364-day facility, which enhance liquidity and mitigate downgrade risks.

Portfolio Pulse from Benzinga Newsdesk

October 15, 2024 | 4:33 pm

BA

GCAD

ITA

Boeing shares rose after securing a $10 billion supplemental credit agreement with major banks. The agreement includes specific interest rates and restrictions on debt and mergers. Boeing also announced a mixed shelf offering and a 10% workforce reduction. Investors can access Boeing through ETFs like ITA and GCAD.

Portfolio Pulse from Lekha Gupta

October 15, 2024 | 2:38 pm

SYY

SYGMA Kansas City warehouse workers, represented by the International Brotherhood of Teamsters Local 955, have ratified a new collective bargaining agreement, ending a 24-hour strike. The company emphasizes the importance of resolving issues through negotiation to avoid disruptions.

Portfolio Pulse from Benzinga Newsdesk

October 15, 2024 | 2:31 pm

BLNK

WBAT

Blink Charging Co. (NASDAQ:BLNK) shares are trading lower after announcing a strategic agreement with Stable Auto to enhance its EV charging network. The company also plans to support EV charging station hosts affected by Enel X's exit from North America. Blink aims to improve its services and expand its network, while also planning a workforce reduction to cut costs.

Portfolio Pulse from Lekha Gupta

October 15, 2024 | 2:26 pm

BAC

Bank of America's CFO announced that there will be minimal changes in headcount for Q4 2024, and expenses are expected to remain consistent with Q3 2024.

Portfolio Pulse from Benzinga Newsdesk

October 15, 2024 | 12:53 pm

BA

Boeing is facing significant financial challenges as a machinists' strike enters its second month, costing the company nearly $5 billion. The strike has led to a 4.22% drop in Boeing's stock price and a $4 billion decrease in market capitalization. The company is also dealing with production delays, regulatory scrutiny, and potential credit downgrades.

Portfolio Pulse from Kaustubh Bagalkote

October 15, 2024 | 10:26 am

BA

Boeing plans to issue 60-day notices in mid-November to employees affected by significant job cuts, as confirmed by an engineering union spokesperson.

Portfolio Pulse from Benzinga Newsdesk

October 14, 2024 | 9:09 pm

SPY

Federal Reserve's Waller discusses the current economic situation, highlighting that recent productivity growth is a rebound from previous lows and unsustainable fiscal policy poses a threat. He mentions potential unemployment increases if labor demand continues to drop and emphasizes the importance of maintaining the current economic 'sweet spot'. Waller also comments on the gradual nature of rate cuts and the challenges of returning to 2019 price levels without significant policy changes.

Portfolio Pulse from Benzinga Newsdesk

October 14, 2024 | 7:55 pm