Streetbeat News

Labor Issues

BA

Boeing Co. has resolved a 53-day strike by the International Association of Machinists and Aerospace Workers, which had halted jetliner production. Employees have accepted a new labor contract, allowing production to resume.

Portfolio Pulse from

November 05, 2024 | 12:30 pm

BA

Boeing's shares are rising in premarket trading as the machinists union voted to approve a third contract agreement, ending a nearly two-month strike.

Portfolio Pulse from

November 05, 2024 | 12:30 pm

BA

Boeing shares rose as employees are set to vote on a new contract proposal, potentially ending a 49-day strike. The deal includes a 38% wage increase over four years, bonuses, and improved 401(k) contributions. Boeing also committed to keeping new aircraft production in Washington. The strike has affected suppliers, and Boeing's credit rating remains on S&P's CreditWatch due to financial pressures.

Portfolio Pulse from Vaishali Prayag

November 01, 2024 | 9:48 pm

SAGE

Sage Therapeutics announced the resignation of Kimi Iguchi as CFO and Treasurer, effective October 31, 2024, as part of a company reorganization. The separation agreement includes a release of claims and non-solicitation, non-disclosure, and non-disparagement obligations.

Portfolio Pulse from Benzinga Newsdesk

November 01, 2024 | 8:44 pm

COST

Costco fleet drivers, represented by Teamsters Local 174, have ratified a short-term contract, aligning its expiration with the Costco National Master Agreement. This strategic move enhances bargaining power for future negotiations. The contract replaces a 401(k) with a defined-benefit pension plan, providing greater security for workers. Despite Costco's 'worker-friendly' image, tensions remain over unionization efforts.

Portfolio Pulse from Benzinga Newsdesk

November 01, 2024 | 7:48 pm

MSFT

Microsoft's decision to shut down Arkane Austin, a studio known for games like Redfall and Prey, has been criticized by Arkane's founder, Raphaël Colantonio. The closure is part of a broader reorganization within Microsoft, which includes reducing its gaming division workforce by 1,900 employees. This move has raised questions about the impact on investor relations and the stock market.

Portfolio Pulse from Franca Quarneti

November 01, 2024 | 7:28 pm

BA

The U.S. economy added only 12,000 jobs in October, significantly missing estimates due to a Boeing machinist strike and hurricanes. Economist Joe Brusuelas suggests these are temporary disruptions, and job growth should normalize soon.

Portfolio Pulse from Aaron Bry

November 01, 2024 | 7:05 pm

BA

S&P has affirmed Boeing's ratings due to greater-than-expected equity issuance, which helps mitigate cash flow deficits expected through 2025. However, Boeing remains on CreditWatch due to limited flexibility in cash flow and ongoing strike challenges.

Portfolio Pulse from Benzinga Newsdesk

November 01, 2024 | 6:59 pm

BA

Boeing and the International Association of Machinists (IAM) have reached a tentative agreement that could end the current strike. IAM members will vote on the deal on November 4, and if approved, workers could return to production facilities by November 6.

Portfolio Pulse from Benzinga Newsdesk

November 01, 2024 | 6:57 pm

ALG

Alamo Group shares are rising following the announcement of cost-saving measures, such as plant consolidations and workforce reductions.

Portfolio Pulse from Benzinga Newsdesk

November 01, 2024 | 6:54 pm