Streetbeat News

Labor Issues

SPY

Federal Reserve Chair Jerome Powell has stated that nominal wage growth has shown signs of easing, despite labor demand still exceeding supply. He expects the labor market rebalancing to continue.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2023 | 6:34 pm

SPY

Federal Reserve Chair Jerome Powell has stated that the labor market remains tight, with labor supply and demand continuing to come into better balance. This could potentially impact the overall economy and the stock market.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2023 | 6:34 pm

STLA

The United Auto Workers (UAW) union has announced that Stellantis has made a new contract offer. The details of the offer have not been disclosed.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2023 | 6:09 pm

F

Ford's tentative agreement with Canadian Union Unifor is set to start the ratification vote on Saturday, September 23, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2023 | 5:25 pm

GM

General Motors (GM) has announced that its Kansas assembly plant will be idled on Wednesday due to a strike by the United Auto Workers (UAW) in Missouri.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2023 | 5:25 pm

FDX

UPS

FedEx Corp (FDX) is benefiting from United Parcel Service Inc’s (UPS) costly labor dispute, with its shares climbing nearly 61% over the past year. FedEx is expected to issue first-quarter earnings of $3.74 per share on revenues of $21.81 billion. Despite estimates pointing to a drop in sales, the company is expected to report an 8% year-over-year rise in adjusted EPS. FedEx's dividends also offer potential monthly income for investors.

Portfolio Pulse from AJ Fabino

September 20, 2023 | 4:33 pm

F

GM

STLA

The United Auto Workers (UAW) strike against Ford Motor Co (NYSE:F), General Motors Co (NYSE:GM) and Stellantis (NYSE:STLA) continues, with workers demanding higher pay and more retirement benefits. UAW President Shawn Fain criticized the companies for generating record profits while refusing to meet the workers' demands.

Portfolio Pulse from Aaron Bry

September 20, 2023 | 4:10 pm

GM

General Motors (GM) is reportedly offering a compensation package of $150,000 per year in pay and benefits, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2023 | 4:06 pm

GM

General Motors (GM) and the United Auto Workers (UAW) union are reportedly far apart in their ongoing contract negotiations, according to sources familiar with the matter.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2023 | 3:46 pm

AMZN

Amazon.com Inc (NASDAQ:AMZN) plans to hire 250,000 additional employees for the holiday season, a significant increase from last year's 150,000. Morgan Stanley analyst Brian Nowak reiterated an Overweight rating for Amazon with a price target of $175. The company is also expected to unveil new AI features for Alexa and release new devices. Despite these developments, Amazon shares were trading lower.

Portfolio Pulse from Adam Eckert

September 20, 2023 | 3:40 pm