Machinists union rejects Boeing contract offer, extending strike
Keith FitzGerald, president of FitzGerald Group, is looking at the top and bottom stocks before the market opens on Monday. Union representing 33,000 people Boeing machinists on strike rejected the company's latest contract offer on Wednesday night, extending a strike that is straining aircraft production. The International Association of Machinists and Aerospace Workers (IAM) has […]
Tesla, UPS, Hasbro and Southwest rise premarket; Boeing and IBM fall – Investing.com
Investing.com — U.S. stocks rose modestly on Thursday, following Wednesday's decline marked by rising yields and declines in big tech stocks. Here are the biggest stocks moving U.S. stocks in the premarket today. tesla (NASDAQ:) Shares rose 13% after the electric vehicle manufacturing giant posted better-than-expected third-quarter profits and said it expected deliveries to increase […]
Boeing posts $6B loss as CEO calls for ‘fundamental culture change’
Boeing CEO Kelly Ortberg on Wednesday laid out a cautious path to rebuilding the struggling aircraft maker as a devastating strike balloons its quarterly loss to $6 billion. called for a “fundamental cultural change”. The company is facing losses of nearly $8 billion this fiscal year, as production of its 737 MAX, 777 and 767 […]
Boeing machinists reject new contract on 41st day of strike
Striking Boeing mechanics rejected a proposed contract that would have ended a costly 41-day work stoppage. Machinists, represented by the International Association of Machinists and Aerospace Workers (IAM), rejected the deal, which included a 35% wage increase over the next four years, a $7,000 ratification bonus and improved retirement benefits. “There are consequences when companies […]
Boeing CEO on third-quarter earnings: ‘Trust in our company has eroded’
Keith Fitz-Gerald, president of the Fitz-Gerald Group, is looking at the top and bottom stocks before the market opens on Monday. Boeing CEO Kelly Ortberg said Wednesday that “confidence in our company has been eroded,” and laid out plans for the aerospace giant to regain its industry leadership position while addressing financial challenges. Who was […]
Boeing reports $6 billion loss ahead of pivotal union vote
Boeing Co. reported losses of more than $6 billion in the last quarter as a vote on a labor contract that could end a week-long strike that paralyzed the aviation giant begins Wednesday. “Returning Boeing to its former heritage will take time, but with the right focus and culture, we will once again be an […]
Satellite made by Boeing a ‘total loss’ after space ‘anomaly’
See what's being clicked on FoxBusiness.com. The Boeing satellite was deemed a “total loss” due to a space “anomaly,” its operator Intelsat said in a statement on Monday. The problem with the IS-33e, which was launched in August 2016 and entered service in January 2017, was first made public by Intelsat on Saturday. The McLean, […]
Boeing machinists to vote on contract as company faces uncertain future
Striking Boeing machinists are scheduled to vote Wednesday on a temporary labor agreement that could end a weeks-long strike, but the company's future will not be questioned. The stakes of voting are high. The strike has cost companies, shareholders and employees billions of dollars since workers were fired on September 13th. Financial strain puts additional […]
Boeing is expected to report a big Q3 loss, then wait for results of vote by striking workers
Wednesday is shaping up to be one of the most important days in a volatile year for Boeing. Boeing reported huge losses in the third quarter, will introduce a new CEO in its first earnings conference and learn whether its machinists will call off their strike. The company's aircraft production was paralyzed for more than […]
Boeing strike costliest in economic damage of 2024 so far
Peter McNally, Head of Global Analyst at Third Bridge, talks about how the Boeing factory workers' strike is impacting business on The Big Money Show. The ongoing strike by Boeing machinists could end this week, but estimates suggest it could cause more economic damage than any other work stoppage in the U.S. so far this […]