Streetbeat News

Labor Issues

CSX

CSX has secured early labor agreements with SMART-MD and ATDA, enhancing wages and benefits for railway workers. These agreements are subject to union ratification and align with recent agreements with other unions.

Portfolio Pulse from Benzinga Newsdesk

August 23, 2024 | 7:04 am

CP

Canadian Pacific Kansas City's service resumption is delayed due to Teamsters contesting a minister's arbitration order. This could impact operations and financial performance.

Portfolio Pulse from Benzinga Newsdesk

August 23, 2024 | 6:54 am

AMZN

A federal labor regulator has classified Amazon delivery drivers as employees, which may increase Amazon's responsibility for working conditions. This decision could force Amazon to negotiate with unions, contradicting its previous stance. The NLRB found Amazon unlawfully targeted drivers with termination threats. Amazon disputes the union's claims.

Portfolio Pulse from Ananya Gairola

August 23, 2024 | 6:48 am

MSFT

A leaked spreadsheet reveals that Microsoft's AI organization engineers receive the highest compensation compared to other units, including Azure. The AI unit, led by Mustafa Suleyman, focuses on consumer AI products and offers higher salaries and bonuses.

Portfolio Pulse from Ananya Gairola

August 23, 2024 | 6:38 am

F

GM

MGA

STLA

Ford, GM, and Stellantis are scaling back their electric vehicle (EV) plans due to waning demand. Ford is canceling a large electric SUV and delaying an electric pickup truck, impacting suppliers like Magna International. GM is delaying a new Buick EV and an EV truck factory, while Stellantis is postponing investments in an Illinois plant, leading to potential labor disputes.

Portfolio Pulse from Michael Juliano

August 22, 2024 | 10:20 pm

CNI

CP

EWC

SPY

Canada has ordered final binding arbitration to resolve a rail stoppage, ending the labor disruption. Freight rail operations are set to resume immediately, as stated by the Canadian Labor Minister.

Portfolio Pulse from Benzinga Newsdesk

August 22, 2024 | 8:54 pm

AGCO

CNI

CP

F

GM

HD

LOW

MERC

MOS

STLA

TSLA

TSN

WFG

WY

The Canadian railway strike involving Canadian National Railway Company and Canadian Pacific Kansas City Ltd. could significantly impact U.S. sectors reliant on Canadian goods, including automobiles, timber, and agricultural products. The strike affects $277 billion worth of goods annually, with major U.S. companies like Ford, General Motors, and Tesla potentially impacted.

Portfolio Pulse from Michael Juliano

August 22, 2024 | 7:20 pm

AMZN

RIVN

STLA

Rivian Automotive Inc (RIVN) faces significant challenges as its stock drops 38.32% year-to-date. The company halted production of EV vans for Amazon due to parts shortages and lost its manufacturing chief to Jeep. These issues, along with bearish technical indicators, suggest a tough road ahead for Rivian.

Portfolio Pulse from Surbhi Jain

August 22, 2024 | 4:26 pm

AMZN

The Teamsters union has won a joint employer decision against Amazon, which could have significant implications for the company's labor practices and unionization efforts. This decision may impact Amazon's operational costs and labor relations.

Portfolio Pulse from Benzinga Newsdesk

August 22, 2024 | 4:16 pm

SPY

Philadelphia Fed President Patrick Harker stated that the job market is softening and returning to normal levels, which aligns with expectations. He mentioned that the balance of risks is becoming more normal, and the Federal Reserve will focus more on employment metrics.

Portfolio Pulse from Benzinga Newsdesk

August 22, 2024 | 2:11 pm