Streetbeat News

Labor Issues

LXRX

Lexicon Pharmaceuticals announced the departure of its President and COO, Jeff Wade, effective September 30, 2024. The company is also searching for a new CFO.

Portfolio Pulse from Benzinga Newsdesk

September 16, 2024 | 12:17 pm

LUV

Southwest Airlines' Flight Simulator Technicians have voted in favor of a new contract, which includes increased pay rates and new benefits. This marks the closure of all labor contracts for the airline, with all 12 union-represented workgroups having ratified new agreements since October 2022.

Portfolio Pulse from Benzinga Newsdesk

September 16, 2024 | 11:03 am

Air Lease is unable to estimate the impact of a Boeing labor strike on its order book, affecting the delivery of 7 Boeing aircraft expected in 2024.

Portfolio Pulse from Benzinga Newsdesk

September 16, 2024 | 10:37 am

ACDVF

Air Canada and the pilots' union ALPA have reached a tentative four-year contract agreement, pending ratification. This agreement acknowledges the pilots' contributions and sets a framework for Air Canada's future growth.

Portfolio Pulse from Benzinga Newsdesk

September 16, 2024 | 7:37 am

Boeing faces a prolonged strike as over 30,000 workers demand higher wages and better pension plans. The strike, which began after rejecting a 25% wage increase offer, could impact Boeing's financials, already strained by significant debt.

Portfolio Pulse from Anan Ashraf

September 15, 2024 | 3:21 am

DFEN

GCAD

ITA

MISL

PPA

Boeing faces potential credit downgrade to junk status due to a strike by aircraft assembly workers, impacting production and cash flow. Moody's is reviewing the situation, considering the strike's duration and its effects on Boeing's financials. Boeing's shares fell 3.4%, while ETFs holding Boeing stock saw gains.

Portfolio Pulse from Michael Juliano

September 13, 2024 | 7:55 pm

GOOG

GOOGL

IWF

LYFT

UBER

VTI

Lyft's stock is down as Uber extends its collaboration with Waymo for autonomous ride-hailing. Uber's diversified services and strong financial performance contrast with Lyft's cost-cutting measures, including layoffs and asset disposals.

Portfolio Pulse from Anusuya Lahiri

September 13, 2024 | 6:42 pm

GCAD

ITA

Boeing faces challenges as a strike by 33,000 workers impacts its operations. BofA analyst Ronald J. Epstein maintains a Neutral rating on Boeing, with a $200 price target, highlighting the company's vulnerability due to delayed production and potential need for wage concessions. Boeing's stock has dropped 25% over the past year, and Moody's has placed its ratings on review for downgrade. Investors can access Boeing through ETFs like iShares U.S. Aerospace & Defense ETF and Gabelli Commercial Aerospace and Defense ETF.

Portfolio Pulse from Nabaparna Bhattacharya

September 13, 2024 | 6:22 pm

MSFT

Microsoft's recent layoffs have impacted Activision Blizzard's mobile game teams, particularly those working on Call of Duty: Warzone Mobile and Warcraft Rumble. Despite high expectations, Warzone Mobile has underperformed, leading to team reductions. Warcraft Rumble also faces waning interest. These developments raise questions about Microsoft's mobile gaming strategy post its $69 billion acquisition of Activision Blizzard.

Portfolio Pulse from Franca Quarneti

September 13, 2024 | 6:08 pm

ADBE

GDX

GLD

GRMN

UAL

WBD

Wall Street is experiencing a positive session with all sectors of the S&P 500 index trading in the green, driven by expectations of a Federal Reserve rate cut. Small-cap stocks are outperforming, and precious metals are rallying. Adobe and Boeing face declines due to revenue guidance and labor strikes, respectively, while United Airlines and Warner Bros Discovery see gains from strategic partnerships.

Portfolio Pulse from Piero Cingari

September 13, 2024 | 5:18 pm