Boeing workers reject contract, strike continues
Wall Street Breakfast
Seeking Alpha
4.1 • 1K Ratings
🗓️ 24 October 2024
⏱️ 5 minutes
🧾️ Download transcript
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Transcript
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| 0:00.0 | Welcome to See King Alpha's Wall Street breakfast, where we cover the top news for investors every morning. |
| 0:08.0 | Good morning. Today is Thursday, October 24th, I'm Julie Morgan. |
| 0:13.6 | Boeing workers turned down a contract offer so the strike continues. |
| 0:18.0 | Tesla is up double digits in pre-market trading, and Western Union agrees to buy Dash. |
| 0:24.0 | Boeing factory workers voted late Wednesday to reject the company's contract offer that would |
| 0:30.0 | have ended a nearly six-week strike. |
| 0:32.0 | The vote was 64% in opposition to the deal which had offered a 35% |
| 0:37.7 | wage hike over four years. The International Association of Machinists and Aerospace Workers said in a statement after the votes were tallied |
| 0:46.5 | that after 10 years of sacrifices, they still have ground to make up, |
| 0:50.9 | and they're hopeful to do so by resuming negotiations promptly. |
| 0:55.0 | Without a deal, Boeing's factories that build the 737, 767 and 777 jets will remain idled. |
| 1:03.6 | The vote came on the same day Boeing reported a $6.2 billion Q3 loss and warned it would remain |
| 1:10.2 | cash flow negative in 2025. After through more than 10 billion dollars in the |
| 1:15.7 | first nine months of 2024. After closing 1.76% lower on Wednesday, Boeing is down 2.7% in pre-market action. |
| 1:26.0 | Tesla rallied late on Wednesday after breaking a streak of missing EPS estimates |
| 1:32.0 | with its last four quarterly reports and reiterating |
| 1:35.1 | that it plans to make EVs affordable. On the earnings conference call |
| 1:39.1 | CEO Elon Musk took a victory lap over what he said was a record quarter. |
| 1:44.7 | He noted that Tesla just produced its 7 millionth vehicle. |
| 1:48.8 | Musk said more affordable models will be produced by Tesla in the first half of 2025. |
| 1:54.9 | He expects vehicle production to increase by 20 to 30 percent in 2025. |
| 2:01.0 | Cyber cap production is anticipated to be scaled up aggressively in 2026. |
... |
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