Streetbeat News

Labor Issues

SPY

Four governors, including those from New York and New Jersey, emphasize the urgency for USMX and the union to reach a fair contract agreement to reopen ports. This situation could impact trade and related sectors.

Portfolio Pulse from Benzinga Newsdesk

October 03, 2024 | 7:49 pm

AMZN

The National Labor Relations Board (NLRB) has filed a complaint against Amazon for alleged union-busting activities, including failing to recognize and bargain with the Teamsters Union for its Delivery Service Partner drivers. The NLRB accuses Amazon of unfair labor practices, such as refusing to acknowledge workers' union rights and retaliating against unionized employees. Amazon has historically opposed being labeled as a joint employer of its contracted delivery companies.

Portfolio Pulse from Anusuya Lahiri

October 03, 2024 | 5:33 pm

SPY

Federal Reserve's Goolsbee states that the latest inflation numbers align with the Fed's target, and the labor market is at full employment. This suggests stability in economic conditions.

Portfolio Pulse from Benzinga Newsdesk

October 03, 2024 | 5:13 pm

BA

Boeing Co (NYSE:BA) has decided to cut health care benefits for 33,000 workers amid an ongoing strike, a move criticized by the workers' union as 'unnecessary and cruel'. The decision has heightened tensions in the labor dispute, with union leaders and Sen. Bernie Sanders condemning the action as corporate greed. Boeing faces financial strain from the strike, including potential furloughs and a $10 billion stock issuance.

Portfolio Pulse from Michael Cohen

October 03, 2024 | 4:53 pm

TSLA

Tesla's Chief Information Officer, Nagesh Saldi, is leaving the company, as reported by Bloomberg. This executive departure could impact Tesla's operations and investor sentiment.

Portfolio Pulse from Benzinga Newsdesk

October 03, 2024 | 4:29 pm

LMT

IAM Local 219 members at Lockheed Martin's Bluegrass Station have ratified their first agreement, which includes wage increases of 4%, 3%, 3.5%, and 3.5% over the contract period.

Portfolio Pulse from Benzinga Newsdesk

October 03, 2024 | 1:48 pm

SPY

US weekly jobless claims rose to 225,000, slightly above expectations, indicating a cooling labor market. This may provide the Federal Reserve with room for potential easing measures.

Portfolio Pulse from Vandana Singh

October 03, 2024 | 1:17 pm

DKS

Dick's Sporting Goods is planning to hire nearly 8,000 seasonal employees for the upcoming holiday season. The hiring process will begin on October 8 with the company's annual National Signing Day.

Portfolio Pulse from Benzinga Newsdesk

October 03, 2024 | 1:09 pm

SPY

The USA's continuing jobless claims have slightly decreased to 1,826K from a revised 1,827K, indicating a marginal improvement in the labor market.

Portfolio Pulse from Benzinga Newsdesk

October 03, 2024 | 12:30 pm

AIN

Albany International (AIN) has updated its cost assumptions for large aerospace contracts, leading to a $24 million negative EAC adjustment in Q3 2024 and a projected $8 million reduction in second-half pre-tax earnings due to increased costs and suspended production at a key customer.

Portfolio Pulse from Benzinga Newsdesk

October 03, 2024 | 10:10 am