Streetbeat News

Labor Issues

BA

SPY

Federal Reserve's Waller indicates that October payroll growth may be reduced by 100,000 due to hurricanes and a Boeing strike. He expects payroll gains to moderate and unemployment to rise slightly but remain low. Inflation data is being closely monitored for persistence.

Portfolio Pulse from Benzinga Newsdesk

October 14, 2024 | 7:05 pm

BA

RTX

Boeing is facing significant challenges, including a 10% workforce reduction, ongoing strikes, safety concerns, and financial losses. The company plans to cut 17,000 jobs to manage costs amid production delays and a strike by 33,000 factory workers. Boeing's Q3 earnings are expected to be impacted by these issues, with anticipated pre-tax charges of $5 billion across various segments. Despite these challenges, Goldman Sachs maintains a Buy rating on Boeing, citing better-than-expected cash flow and cost reduction plans.

Portfolio Pulse from Erica Kollmann

October 14, 2024 | 6:05 pm

SYY

Warehouse workers at Sysco/Sygma in Kansas City have gone on strike due to the company's unfair labor practices and a failed bargaining agreement, according to the Teamsters.

Portfolio Pulse from Benzinga Newsdesk

October 14, 2024 | 5:06 pm

BA

MTEM

VERB

U.S. stocks traded higher with the Dow Jones, NASDAQ, and S&P 500 all gaining. Boeing plans to cut 10% of its workforce, affecting 17,000 jobs. Verb Technology shares surged 75% after the CEO highlighted the company's financials. Molecular Templates shares dropped 75% due to liquidation plans.

Portfolio Pulse from Avi Kapoor

October 14, 2024 | 4:23 pm

BA

Boeing's stock has broken below a key support level, leading to potential job cuts and further downward pressure on its stock price. The lack of demand to absorb sell orders suggests sellers may need to lower prices to attract buyers.

Portfolio Pulse from Mark Putrino

October 14, 2024 | 3:56 pm

BA

MTEM

TVGN

VERB

VEV

XPON

ZPTA

The Nasdaq surged by 1% on Monday, with Boeing announcing a 10% workforce reduction, affecting around 17,000 jobs. Several stocks experienced significant price movements, including Tevogen Bio, Verb Technology, and Molecular Templates.

Portfolio Pulse from Avi Kapoor

October 14, 2024 | 2:47 pm

BA

BTCUSD

SPY

The S&P 500 index saw an increase, Bitcoin experienced gains, while Boeing faced a drop in preliminary results and announced workforce reductions.

Portfolio Pulse from Benzinga Newsdesk

October 14, 2024 | 2:21 pm

BA

SPY

U.S. Acting Labor Secretary Julie Su is in Seattle to meet with Boeing and a striking union. This visit highlights ongoing labor issues at Boeing, which could impact the company's operations and stock performance.

Portfolio Pulse from Benzinga Newsdesk

October 14, 2024 | 1:49 pm

SPY

Federal Reserve's Neel Kashkari emphasizes the importance of credibility and indicates that the economy is nearing the final stages of reducing inflation to 2%. The monetary policy remains restrictive, and the job market is strong. Modest rate cuts may be appropriate, with future policy driven by data.

Portfolio Pulse from Benzinga Newsdesk

October 14, 2024 | 1:13 pm

BA

Boeing shares decline following the announcement of disappointing Q3 preliminary revenue and a 10% workforce reduction.

Portfolio Pulse from Benzinga Newsdesk

October 14, 2024 | 12:49 pm