Boeing shares rise after reaching new union deal

35 minutes ago

Boeing (B.A.) shares were gaining ground in premarket trading Friday after the aircraft maker reached a tentative agreement with its machinists union on a new contract, potentially ending a crippling deal. seven-week strike.

The International Association of Machinists (IAM) is asking its members to approve Boeing’s improved offer in a vote Monday. Their members have been on strike since September 13.

“In every negotiation and strike, there comes a point where we have extracted everything we can from bargaining and withholding our labor,” IAM District 751 said Thursday. “We are at this point now and risk a regressive or lesser offer in the future.”

The new offer includes a general salary increase of 38% over four years, more than the previous offer by 35%. This “represents 43.65% over the duration of the agreement,” the union said. The new offer will also give workers the option of a one-time $12,000 ratification bonus; 401(k) contribution; or “a combination of the two,” the union said.

The strike was painful for Boeing, which raise billions of dollars to stem a cash flow. Chief Executive Officer (CEO) Kelly Ortberg, who took office in August, said in a memo to employees last month that the planemaker planned to lay off about 10% of its workforceor 17,000 workers, “in the coming months” and postpones the launch of its first airliner 777x.

Boeing shares, up 2% in premarket trading, have lost more than 40% of their value this year through Thursday’s close.

–Nisha Gopalan

Amazon Price Levels to Watch After Profit Rise

1 hour 28 minutes ago

Amazon (AMZN) shares rose more than 7% in premarket trading after the company beat Wall Street profit estimates for the third quarter.

The stock is poised to break out of a symmetrical triangle following the company’s better-than-expected quarterly report.

Investors should watch for key broad price levels on Amazon’s chart around $200, $242, and $273, while also watching for an important support area during profit-taking periods near $192.

Read the full technical analysis piece here.

–Timothy Smith

Stock futures higher ahead of jobs report

1 hour 48 minutes ago

Futures contracts tied to the Dow Jones Industrial Average rose 0.4%.

S&P 500 futures also rose 0.4%.

Nasdaq 100 futures also gained 0.4%.