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Labor Issues

ARM

CVNA

F

MGM

TSLA

U.S. stocks ended Thursday in the green with Carvana, ARM Holdings, Ford, MGM Resorts, and Tesla gaining attention. Carvana shares surged by 13.47% amid a potential UAW strike that could lead consumers to the used car market. ARM Holdings rose by 24.69% after its U.S. stock market debut following regulatory challenges to Nvidia's acquisition. Ford's stock slightly decreased due to the looming UAW strike. MGM Resorts saw a minor increase despite a recent cyberattack. Tesla's stock rose by 1.75% as Ark Invest resumed selling its shares.

Portfolio Pulse from Benzinga Neuro

September 15, 2023 | 1:47 am

F

GM

STLA

Ford Motor Co is facing a potential strike as negotiations with the United Auto Workers (UAW) union remain unresolved. The UAW is demanding a 46% wage hike over four years, restoration of pensions, a reduced workweek, and abolishment of the tier system. Ford's latest offer includes a cost-of-living adjustment bonus and a ratification bonus. The strike could disrupt operations across the Big 3 automakers - Ford, General Motors, and Stellantis.

Portfolio Pulse from AJ Fabino

September 14, 2023 | 9:20 pm

F

In a recent interview with CNBC, Ford CEO Farley stated that there are currently no ongoing talks with the United Auto Workers (UAW) union. He also mentioned that the UAW is not negotiating with Ford, but instead is busy planning a strike.

Portfolio Pulse from Benzinga Newsdesk

September 14, 2023 | 8:22 pm

F

In a recent interview with CNBC, Ford's CEO stated that the company would have gone bankrupt if the United Auto Workers' (UAW) proposal had been in effect in previous years.

Portfolio Pulse from Benzinga Newsdesk

September 14, 2023 | 8:22 pm

F

Ford Motor has stated that its last offer to the United Auto Workers (UAW) union was 'very good' and it has not yet received a counter-offer.

Portfolio Pulse from Benzinga Newsdesk

September 14, 2023 | 8:21 pm

F

Ford Motor Company could face a 62% increase in all-in compensation if it meets the United Auto Workers' (UAW) demands. A 12-week strike would cost an average employee $17,500 in lost wages and profit sharing. The odds for a targeted strike by UAW are very high.

Portfolio Pulse from Benzinga Newsdesk

September 14, 2023 | 8:21 pm

F

Ford Motor has stated that it would have lost $14.4 billion over the last four years if it had met the current demands of the United Auto Workers (UAW). Furthermore, each plant that gets struck by UAW has 10-15 affiliated plants that would be affected.

Portfolio Pulse from Benzinga Newsdesk

September 14, 2023 | 8:20 pm

CVNA

Shares of Carvana Co (NYSE:CVNA) are trading higher by 13.9% amid the approaching UAW strike deadline. A strike could disrupt new vehicle production, potentially driving used car prices higher and benefiting Carvana. The odds of a United Auto Workers strike are over 90%, according to Evercore ISI analyst Chris McNally.

Portfolio Pulse from Henry Khederian

September 14, 2023 | 7:50 pm

VRM

Shares of Vroom Inc (NASDAQ:VRM) are trading higher by 7% amid the approaching UAW strike deadline. A strike could disrupt new vehicle production, potentially driving used car prices higher and benefiting VRM. The odds of a United Auto Workers strike are over 90%, according to Evercore ISI analyst Chris McNally.

Portfolio Pulse from Henry Khederian

September 14, 2023 | 7:49 pm

GM

General Motors CEO, Barra, has communicated to the company's employees that they are seeking to avoid a strike, reminding them of the 2019 strike which was not beneficial to anyone.

Portfolio Pulse from Benzinga Newsdesk

September 14, 2023 | 6:44 pm