Streetbeat News

Labor Issues

SOFI

SoFi Technologies Inc. shares are trading higher due to strong September unemployment figures and the resolution of a dockworkers' strike, which alleviates supply chain concerns. This positive economic outlook benefits SoFi's financial services offerings.

Portfolio Pulse from Vaishali Prayag

October 04, 2024 | 6:46 pm

BA

Boeing's union negotiations are set to resume on October 7 with the help of a federal mediator, as reported by Reuters. This development could impact Boeing's labor relations and operational stability.

Portfolio Pulse from Benzinga Newsdesk

October 04, 2024 | 6:29 pm

STLA

Stellantis has filed a lawsuit against the United Auto Workers (UAW) in a federal court in California, claiming the union's actions around potential strikes are illegal. Stellantis aims to hold UAW and the local union chapter liable for revenue loss and damages from any strike-related production losses.

Portfolio Pulse from Benzinga Newsdesk

October 04, 2024 | 6:02 pm

ARTW

Art's Way Manufacturing announced a mutual separation with CEO David King, effective October 1, 2024. Chairman Marc McConnell will take over as CEO, aiming for overhead reduction and leveraging his extensive experience. The company will focus on innovation and cost management amid challenging market conditions.

Portfolio Pulse from Benzinga Newsdesk

October 04, 2024 | 5:43 pm

CNI

BofA Securities downgraded Canadian National Railway (CNI) from Buy to Neutral, citing rising earnings pressure and network challenges. The price target was reduced from $129 to $122. The company faces labor issues, network disruptions, and declining volumes, impacting its financial outlook.

Portfolio Pulse from Nabaparna Bhattacharya

October 04, 2024 | 5:23 pm

COF

CRBG

DFS

LPLA

MET

PRU

SOFI

SYF

UNM

Financial sector shares are rising due to strong September employment data and a tentative agreement to suspend a dockworkers' strike, alleviating economic concerns.

Portfolio Pulse from Benzinga Newsdesk

October 04, 2024 | 5:00 pm

BCS

WFC

Banking stocks are rising due to strong September employment data and a tentative agreement to suspend a dockworkers' strike, alleviating economic concerns.

Portfolio Pulse from Benzinga Newsdesk

October 04, 2024 | 4:57 pm

NSC

Norfolk Southern announced that all its intermodal facility ingates will reopen to East Coast port destinations following a tentative agreement between U.S. dock workers and port operators, ending the work stoppage at East Coast ports.

Portfolio Pulse from Benzinga Newsdesk

October 04, 2024 | 4:20 pm

ZIM

ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) shares are down 13.5% after the International Longshoremen’s Association suspended its strike, following a tentative deal with the United States Maritime Alliance. The deal includes a significant pay increase and worker protections, with further negotiations ongoing.

Portfolio Pulse from Dylan Berman

October 04, 2024 | 4:19 pm

LULU

Lululemon Athletica's stock rose by 3.28% following the resolution of a port strike, which threatened supply chain disruptions. The tentative agreement between dockworkers and port operators ensures smooth operations ahead of the holiday season, benefiting retailers like Lululemon.

Portfolio Pulse from Henry Khederian

October 04, 2024 | 4:18 pm