Streetbeat News

Labor Issues

Production workers at Ford Motor Co's (NYSE:F) assembly plants in Louisville and Kentucky have voted against a tentative labor deal, with 55% opposing it. In contrast, 69% of skilled trades workers supported the agreement. This split vote creates uncertainty for Ford's financial planning, especially after the company withdrew its full-year financial forecast last month due to concerns over the contract's ratification. Overall, 70.7% of Ford workers have voted in favor of the deal, but votes from key facilities like the Dearborn Truck plant in Michigan are still pending. Ford's stock (F) is currently trading down by 0.56% at $9.81.

Portfolio Pulse from Akanksha Bakshi

November 13, 2023 | 4:21 pm

XPO

XPO Logistics, a leading North American freight transportation provider, has been recognized for its commitment to military hiring. It was named one of Military.com's Top 25 Employers for Veterans and earned the 2024 Military Friendly® Employer Status with a Silver ranking from Viqtory. XPO has a dedicated recruiting team for veteran employment and will sign a commitment with the U.S. Army PaYS program to further support the military community.

Portfolio Pulse from Benzinga Newsdesk

November 13, 2023 | 3:02 pm

MGA

Magna International has reached a tentative agreement with Unifor Local 444 for the Magna Integram Windsor Seating facility, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

November 13, 2023 | 1:50 pm

TIO

Tingo Group has adjusted its CFO position in response to the Gaza conflict. Amir Ayalon, residing in Israel, has transitioned to a part-time consultancy role due to personal challenges and travel restrictions. Kevin Chen will take over as the Interim CFO.

Portfolio Pulse from Benzinga Newsdesk

November 13, 2023 | 1:13 pm

TNDM

David B. Berger, COO of Tandem Diabetes Care, will step down from his position effective December 31, 2023, according to a recent filing. Berger is expected to provide advisory services to Tandem throughout 2024, with terms of any agreement to be disclosed in a subsequent filing.

Portfolio Pulse from Benzinga Newsdesk

November 13, 2023 | 11:08 am

FSR

GOEV

KARS

LCID

MBGAF

TSLA

Electric vehicle stocks experienced a downturn in the week ending Nov. 11, with Lucid Group reporting a disappointing quarter and lowering its 2023 production outlook. Tesla faced unionization support from President Biden and labor issues in Sweden, while also adjusting prices in China. Fisker is seeking manufacturing partners, and Canoo unveiled a new electric truck. Mercedes-Benz is expanding its charging network in the U.S. The KraneShares Electric Vehicles ETF saw a weekly decline.

Portfolio Pulse from Shanthi Rexaline

November 11, 2023 | 3:28 pm

CZR

MGM

WYNN

President Biden congratulated the Culinary and Bartenders Unions for reaching a tentative agreement with MGM Resorts, Caesars Entertainment, and Wynn Resorts. This could indicate positive labor relations and stability within these companies.

Portfolio Pulse from Benzinga Newsdesk

November 10, 2023 | 11:40 pm

CZR

A tentative agreement has been reached between the Culinary and Bartenders Union and Caesars Entertainment, potentially averting labor disputes and strikes. This agreement is likely to impact the operations and public image of Caesars positively, as it suggests a resolution to labor issues that could have led to disruptions in service and operations.

Portfolio Pulse from Benzinga Newsdesk

November 10, 2023 | 9:48 pm

BYD

DIS

MGM

PDYPF

The Detroit Casino Council is urging the public to boycott four sports betting and online casino platforms associated with three casinos where workers are on strike. The platforms targeted for the boycott are FanDuel, ESPN Bet (soon to be launched), Hollywood iCasino, and BetMGM.

Portfolio Pulse from Benzinga Newsdesk

November 10, 2023 | 8:54 pm

WBD

Warner Bros. Discovery's stock (WBD) is trading higher after the conclusion of the SAG-AFTRA strike, which had previously put pressure on the company's operations and potentially its financial performance.

Portfolio Pulse from Benzinga Newsdesk

November 10, 2023 | 8:05 pm