Streetbeat News

Labor Issues

BA

Boeing shares declined as workers rejected a labor contract, initiating a strike. Moody's placed Boeing's ratings on review for downgrade due to these concerns.

Portfolio Pulse from Benzinga Newsdesk

September 13, 2024 | 4:46 pm

BA

Moody's has placed Boeing's ratings under review for a potential downgrade due to concerns over a prolonged strike affecting its commercial airplanes business recovery. Despite this, Boeing's 737 Max production increased to nearly 30 per month in July and August.

Portfolio Pulse from Benzinga Newsdesk

September 13, 2024 | 4:34 pm

BA

Fitch Ratings has warned that a prolonged strike at Boeing could increase the risk of a credit downgrade due to operational and financial impacts. An extended strike may force Boeing to seek new liquidity sources to meet cash targets. Boeing's negative outlook also reflects operational and certification risks for its 2026-2027 production goals.

Portfolio Pulse from Benzinga Newsdesk

September 13, 2024 | 4:33 pm

BA

Boeing's CFO, at Morgan Stanley's 12th Annual Laguna Conference 2024, refrained from commenting on achieving production rate 38 by year-end, citing the uncertainty due to the duration of an ongoing strike.

Portfolio Pulse from Benzinga Newsdesk

September 13, 2024 | 4:26 pm

BA

The White House is urging Boeing and its machinists to negotiate in good faith to reach an agreement that benefits employees and strengthens the company.

Portfolio Pulse from Benzinga Newsdesk

September 13, 2024 | 4:21 pm

MSFT

Microsoft is cutting 650 jobs in its gaming division following its $69 billion acquisition of Activision-Blizzard. Despite these layoffs, Microsoft's stock has grown 13% year-to-date, reflecting a strategic realignment to manage its expanded gaming portfolio.

Portfolio Pulse from Zaheer Anwari

September 13, 2024 | 4:10 pm

BA

Boeing's CFO announced that the tanker program is expected to be impacted by a work stoppage at Boeing Commercial Airplanes. This was disclosed at Morgan Stanley's 12th Annual Laguna Conference 2024.

Portfolio Pulse from Benzinga Newsdesk

September 13, 2024 | 4:09 pm

BA

Fitch Ratings has indicated that a prolonged strike at Boeing could pose a risk of a credit rating downgrade for the company. This highlights potential financial challenges for Boeing if the strike continues.

Portfolio Pulse from Benzinga Newsdesk

September 13, 2024 | 4:08 pm

BA

Boeing's CFO announced that a strike will affect production and deliveries, emphasizing a focus on cash conservation. The company is eager to resume negotiations, with the CEO actively working towards an agreement.

Portfolio Pulse from Benzinga Newsdesk

September 13, 2024 | 3:53 pm

BA

RH

Boeing workers are set to strike, which could impact production. Consumer sentiment has exceeded expectations, indicating potential economic optimism. RH has reported strong earnings, leading to a surge in its stock price and subsequent price target raises.

Portfolio Pulse from Benzinga Newsdesk

September 13, 2024 | 3:13 pm