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☆ Global equity returns are disappearing as U.S. stock market rockets higher
▼ + stars: | 2024-11-19 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

Global stocks have largely fallen as the U.S. has rallied, the result of a confluence of factors. The fund gauges how global stocks minus U.S. equities are performing, and it features names such as Taiwan Semiconductor , Tencent and Novo Nordisk . The broad market index was marginally higher on the day and has soared nearly 24% year to date. The dollar index has jumped more than 2% in November, and has climbed nearly 5% year to date. .DXY 3M line Dollar index The underperformance of global stocks might provide some temptation to dive in at a time when they appear undervalued.

Persons: hasn't, Donald Trump, Nick Colas, MSCI ACWI, Colas Organizations: White, DataTrek Research, ETF, Taiwan Semiconductor, Tencent, Novo Nordisk, ACWX Locations: U.S

☆ UBS sees S&P rising to 6,400 in 2025, about 9% from here
▼ + stars: | 2024-11-18 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +2 min

UBS sees stocks rising to new heights in the new year, though not without a brief pullback. In a note Monday, UBS strategists said they see the S & P 500 rising to 6,400 by the end of 2025. The iShares Russell 2000 ETF (IWM) has popped 2.6% since the election, outperforming the S & P 500's 1.3% advance. The S & P 500 financials sector has been on fire since the Nov. 5 vote, up more than 6%. The S & P 500 traded around 5,900 on Monday, above UBS strategist Jonathan Golub's 2024 target of 5,850 .

Persons: Stocks, Donald Trump, Russell, Jonathan Golub's Organizations: UBS, Trump, Still Locations: Friday's, U.S, Europe

☆ Baird upgrades Roku, says the stock is a buy after its big 2024 drop
▼ + stars: | 2024-11-18 | by ( Sean Conlon | ) www.cnbc.com time to read: +2 min

Roku's huge underperformance this year has created an attractive buying opportunity for investors, according to Baird. Analyst Vikram Kesavabhotla upgraded the stock to outperform from neutral and hiked his price target by $20 to $90, implying more than 30% upside from Friday's close. "We also believe the continued fragmentation of content and heightened industry focus on monetization/engagement should help magnify the value of ROKU's platform." "Management is also expressing a disciplined approach toward operating expense growth going forward, which should allow ROKU to consistently deliver operating leverage over the coming years," Kesavabhotla added. Among the 32 analysts covering Roku, 17 have a holding rating, LSEG data shows.

Persons: Baird, Vikram Kesavabhotla, ROKU, Kesavabhotla Locations: Roku

☆ Microsoft Copilot's underperformance is the latest red flag for investments in AI
▼ + stars: | 2024-11-18 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

The big storyA Copilot conundrumMicrosoft; Chelsea Jia Feng/BIMicrosoft's challenges with its flagship AI product could be another red flag for an industry with high hopes for the tech. Earlier this year, analysts at Barclays highlighted an under-the-radar risk to AI bets: the depreciation costs related to AI chips . A potential Trump trade plan beneficiary: US semiconductor jobs. If Trump's proposed trade plan is enacted, the American semiconductor industry could see hiring growth. Walmart might be just fine under Trump's proposed trade plan.

Persons: Copilot, Chelsea Jia Feng, Insider's Ashley Stewart, Satya Nadella didn't, doesn't, Ashley, It's, Sam Altman, Alistair Barr, Alyssa Powell, Jared Spataro, OpenAI, Biden, Carlyle, Will Matt Gaetz, Will Trump, Rob Arnott, Arnott, ANGELA WEISS, Trump's, Ilya Sutskever, Mira Murati, Rebecca Zisser, homebuyers, Trump, Bob Iger, Dan DeFrancesco, Grace Lett, Ella Hopkins, Hallam Bullock, Amanda Yen, New York.Milan Sehmbi Organizations: Business, Microsoft, Chelsea, Getty, Lumen Technologies, Barclays, Trump, Treasury, UFC, Republican, Getty Images, Elon, Spirit Airlines, JetBlue, Walmart, Walmart US, Shoppers, The Locations: Ukraine, Russia, Rio de Janeiro, New York, Chicago, London, New York.Milan

☆ Embattled fashion house Burberry reveals massive overhaul sending shares to an all-time high
▼ + stars: | 2024-11-14 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +3 min

Analysts responded positively to the news, pointing to a potential "turning point" for the embattled brand. The plans were delivered alongside Burberry's 2024 interim results, which saw sales fall 20% for the second consecutive quarter. A 'turning point' for embattled BurberryThe underperformance comes amid a wider slowdown in the luxury sector, with the personal luxury goods market set to contract 2% this year. Mamta Valechha, consumer discretionary analyst at Quilter Cheviot, described it as a "turning point in what has been a very difficult period." Pedestrians walk past the window display of the store of British fashion label Burberry, in central London, on September 2, 2024.

Persons: Kevin Lee, Schulman, Joshua Schulman, Michael Kors, Burberry, Burberry Schulman, Burberry's, Piral Dadhania, Dadhania, Mamta, Cheviot, Henry Nicholls Organizations: Getty, Burberry, RBC Capital Markets, Afp Locations: Shanghai, London

☆ Burberry launches urgent turnaround plan to save the brand
▼ + stars: | 2024-11-14 | by ( Maria Noyen | ) www.businessinsider.com time to read: +2 min

AdvertisementBurberry's CEO Joshua Schulman says the brand is undergoing an urgent "course correct." The strategy aim comes as the luxury brand reports revenue plummeted 22% in its interim results. Things have gone from bad to worse at Burberry, the beleaguered British luxury brand. Dubbing the strategic shift "Burberry Forward," the market has responded positively, with shares rising 14% in early trading on Thursday. Cara Delevigne is a longtime Burberry brand ambassador and stars in one of its new campaigns.

Persons: Joshua Schulman, Burberry, Schulman, Jelena Sokolova, I've, Louis Vuitton, Cara Delevigne, Lexie Moreland, Barry Keoghan, Jonathan Akeroyd Organizations: Burberry, Morningstar, Getty, British, Moncler Locations: British, WWD, China

☆ Team Meta? Team Alphabet? A noted tech analyst weighs in and so does Jim Cramer
▼ + stars: | 2024-11-12 | by ( Paulina Likos | ) www.cnbc.com time to read: +5 min

While keeping buy ratings on both stocks, Nathanson raised his firm's price targets on Alphabet and Meta. In support of giving Alphabet the edge, he sees faster revenue growth from Meta but at a higher cost. For one, Meta has consistently delivered revenue and earnings ahead of consensus, rooted in stron advertising revenue from AI advancements. Bottom line Jim Cramer sees merit in MoffettNathanson's buy calls on Alphabet and Meta and believes it is just about "time to buy both" of these AI and advertising leaders. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: It's, Michael Nathanson —, Craig Moffett, —, underperformance, Nathanson, Jim Cramer, Trump Donald Trump's, Jim Cramer's, Jim, Mark Zuckerberg, Sundar Pichai Organizations: MoffettNathanson Research, Facebook, Meta, Reality Labs, Labs, Google, Tech, Trump, CNBC, REUTERS Locations: Meta

☆ Hedge funds performed better under Democratic presidents than Republican ones, history shows
▼ + stars: | 2024-11-12 | by ( Leslie Picker | ) www.cnbc.com time to read: +1 min

NYSEThere's been a rush of enthusiasm on Wall Street regarding Donald Trump's election win, but hedge funds actually generate more alpha when the White House is occupied by a Democrat president than a Republican one, according to HFR, collating data going back to 1991. But during Democratic administrations, the gap was about 183 basis points, with hedge funds delivering average, annualized returns of 10.16%, compared to 11.99% from the S&P 500. Zoom In Icon Arrows pointing outwards HFRWhen compared with the a bond index, HFR found that hedge funds under both parties outperformed – with stronger alpha when a Democrat was in the White House. Zoom In Icon Arrows pointing outwards HFRSurprisingly, the way that hedge fund participants donate in elections was a bit more tilted toward one party. Zoom In Icon Arrows pointing outwards Open Secrets

Persons: Donald Trump's, annualized, HFR Organizations: New York Stock Exchange, NYSE There's, Republican, Democratic, Democrat Locations: HFR

☆ Honeywell jumps on activist push for a breakup. Here's our plan for the stock now
▼ + stars: | 2024-11-12 | by ( Morgan Chittum | ) www.cnbc.com time to read: +4 min

The news Activist hedge fund Elliott Management on Tuesday disclosed a more-than-$5 billion stake in Honeywell —arguing the industrial conglomerate should consider a breakup. Elliott's position in Honeywell is its largest ever in a single stock, according to Bloomberg News, which first reported the activist's plans. The crux of Elliott's plan is a separation of Honeywell's aerospace and automation businesses into standalone companies. Honeywell's stock is up nearly 32% over the past five years compared with a 92% gain for the broader S & P 500 . Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Jim Cramer isn't, Elliott, Honeywell —, Stacey Jones, Vimal Kapur, Jim, Honeywell, we've, We've, Jim Cramer's, Jim Cramer Organizations: Honeywell, Elliott Management, Bloomberg News, CNBC, Carrier, Wall, Robotics, Honeywell Intelligrated

☆ Wall Street sees a buying opportunity in these crypto mining stocks as bitcoin marches to new records
▼ + stars: | 2024-11-12 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

Some bitcoin miners are giving investors an opportunity to get in on the cryptocurrency's big postelection rally. Pure play bitcoin miners have been lagging this year for a host of reasons. CLSK RIOT,MARA 5D mountain Bitcoin mining laggards have been outperforming in the the recent crypto rally Now, with bitcoin consistently reaching new records since Election Day — a trend that's expected to continue through next year — the mining laggards could be catching up, analysts say. Bitcoin mining stocks are among the best investment vehicles for investors to express their bullish outlook on bitcoin, he added, and have outperformed bitcoin itself in bull markets prior to 2024 by about 2.5x. We know, investors like miners for energy [and] AI optionality, but it's time to buy bitcoin miners for the Bitcoin trade."

Persons: MARA, Mike Colonnese, Wainwright, TeraWulf, Bernstein, Gautam Chhugani, Riot, CleanSpark, Iren, Trump, Biden, — CNBC's Michael Bloom Organizations: bitcoin, BTC, H.C, CNBC, Mara Holdings, Energy Locations: Marathon, U.S

☆ A consumer turnaround story that could take a while. How to play it with options
▼ + stars: | 2024-11-11 | by ( Michael Khouw | ) www.cnbc.com time to read: +6 min

There's a struggling auto parts stock where a notable activist is involved that could be ripe for a turnaround... but it may take some time. Although Advance Auto was the smallest of the three at the end of 2021, these companies, ostensibly selling similar products, were within the same order of magnitude as of 2021. AAP 1Y mountain Advance Auto Parts, 1 year Between the company's poor operating performance and the stock's sharp declines, it is unsurprising that sell-side analysts aren't enthusiastic. Advance Auto Parts seems a good candidate, and scanning the holders of AAP, it seems some well-known activists, such as Third Point agree . While the activist's strategy may be sound, it might be challenging to implement due to market conditions or capital constraints.

Persons: There's, O'Reilly, Autozone, Russell, Shane O'Kelly Organizations: Parts, Autozone, O'Reilly Automotive, AAP, Advance, Auto, Advance Auto, Carlyle Group, Home, CNBC, NBC UNIVERSAL Locations: Jan

☆ Telsey upgrades Home Depot, sees Fed rate cuts as a boost to shares
▼ + stars: | 2024-11-08 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +2 min

Home Depot could be a beneficiary of the Federal Reserve's latest rate cutting cycle, according to Telsey Advisory Group. The investment firm upgraded shares of the home improvement retailer to outperform from market perform ahead of Home Depot's third-quarter earnings release on Tuesday. Analyst Joseph Feldman also lifted his price target to $455 from $360, which implies upside of 14% from Thursday's close. As a catalyst, Feldman cited upcoming Fed rate cuts. Home Depot shares are up more than 15% year to date.

Persons: Joseph Feldman, Feldman, Hurricanes Helene Organizations: Advisory, Fed, Traders, Hurricanes, Home Depot Locations: Thursday's, Milton

☆ Tariff-exposed stocks bounce back — plus, 2 names Jim Cramer would buy here
▼ + stars: | 2024-11-07 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. One stock we did buy a day ago was BlackRock , and Jim said Thursday the asset manager is still an attractive stock to buy. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Donald Trump's, Kamala Harris, Trump, White, Jim, It's, Stanley Black, Decker, Stocks, Ralph Lauren, Lyft, Jim Cramer's Organizations: CNBC, Nasdaq, Dow Jones, Federal Reserve, European Central Bank, Corona, Constellation Brands, BlackRock, Meta, Arm Holdings, Qualcomm, Warner Bros . Locations: U.S, Europe, BlackRock

☆ Indian financials attractive despite recent underperformance: Investment strategist
▼ + stars: | 2024-11-06 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIndian financials attractive despite recent underperformance: Investment strategistVK Vijayakumar, chief investment strategist of Geojit Financial Services, says the recent market weakness in India is justified and names the sectors that he believes remain fairly valued.

Persons: VK Organizations: Investment, Geojit Financial Services Locations: India

☆ Cathie Wood positions for new tech boom - and it doesn't matter who wins the White House
▼ + stars: | 2024-11-05 | by ( Stephanie Landsman | ) www.cnbc.com time to read: +2 min

ARK Invest's Cathie Wood is positioning for a White House administration that embraces transformative technology. Wood runs the firm's flagship ARK Innovation ETF (ARKK) — which is up almost 22% over the past three months. After soaring nearly 68% last year, the ARK Innovation ETF is down about 8% in 2024. Wood is also behind the ARK Genomic Revolution ETF (ARKG) , which is down about 25% so far this year. The ARK Genomic Revolution ETF owns both stocks.

Persons: Wood, it's, Joe Biden, ARKK Organizations: White, Innovation, Federal Reserve, Tech, Genomic, Beam Therapeutics Locations: ARKK

☆ Wealth manager for the super-rich names 3 stocks to buy before the year-end
▼ + stars: | 2024-11-01 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +5 min

Equity markets rallied this year, as investors remained bullish on Big Tech but also scooped up shares in under-the-radar companies. Year-to-date, shares in Exxon have gained 16.7%, while the stock of Barrick and Microsoft have gained around 10.8% and 15% respectively. Microsoft Teng remains bullish on Microsoft, despite Wrise making a "partial switch" and reducing its weight in the tech giant while increasing allocations to Nvidia in early August. Microsoft and and Nvidia are among the so-called Magnificent Seven stocks, which also include Alphabet , Amazon , Apple , Meta Platforms and Tesla . Nike Athletic footwear and apparel label Nike is another stock that Teng likes, despite bearish sentiments in Wall Street.

Persons: Kevin Teng, —, Barrick, Barrick Gold Teng, Microsoft Teng, Teng, OpenAI, AlixPartners, Walt Disney, Mickey Mouse Organizations: Big Tech, CNBC Pro, Wrise Private Singapore, Microsoft, behemoth Exxon Mobil, Barrick Gold, Exxon, Barrick, Exxon Mobil, Nvidia, Apple, Tesla, Nike Athletic, Nike, Disney, Marvel Studios, Disney Plus, 4Q, Pixar Animation Studios Locations: Asia, East, Europe, Wall Street

☆ Franklin Templeton CEO says focus is on 'doing what's right' for clients amid SEC probe
▼ + stars: | 2024-10-31 | by ( Natasha Turak | ) www.cnbc.com time to read: +1 min

RIYADH — Franklin Templeton CEO Jenny Johnson said the firm is focused on doing right by its clients, in her first public comments after the company saw its worst quarter for financial outflows in its history and the Securities and Exchange Commission started a probe into suspicious trading at its fixed-income unit. Franklin Templeton's fixed-income business has also dealt with years of underperformance, which many investors expected to reverse course as money moves into bonds and other fixed-income products, which make up about 30% of the firm's assets. Johnson told CNBC Wednesday that the issue with Western Asset Management was damaging, but stressed that it stemmed from an isolated case, and that supporting clients was Franklin Templeton's top focus. "We've had an issue at Western which is isolated to an individual and a subset of strategies, but there's definitely been outflows in those strategies," Johnson told CNBC's Dan Murphy in Riyadh. "I mean, the good news — Western has a significant amount of other strategies that are outside of this and have a lot of global clients there, but we've definitely been hurt by the issues on those three strategies."

Persons: Franklin Templeton, Jenny Johnson, Ken Leech, Franklin Templeton's, Johnson, Franklin, We've, CNBC's Dan Murphy Organizations: Securities and Exchange Commission, Western Asset Management, SEC, Financial Times, CNBC Wednesday, Franklin Templeton's Locations: RIYADH, California, outflows, Riyadh

☆ What investors should look for as Meta, Microsoft report earnings Wednesday
▼ + stars: | 2024-10-30 | by ( Samantha Subin | ) www.cnbc.com time to read: +5 min

Another busy day of megacap technology earnings kicks off Wednesday with results from Meta Platforms and Microsoft after the bell. Wall Street expects Meta Platforms to post third-quarter earnings of $5.25 per share, up from $4.39 a year ago, per LSEG. For Microsoft, EPS and revenue are expected to reach $3.10 and $64.51 billion, respectively, for the fiscal first quarter . Meta Platforms For Meta Platforms, analysts are hunting for signs that AI is continuing to boost the company's core product and advertising spending. Microsoft Microsoft faces a tougher bar headed into the print, with many analysts leaning toward caution as the company lags some of its megacap peers and underperforms the Nasdaq Composite.

Persons: haven't, Davidson, Gil Luria, Citi's Ronald Josey, Citi's Josey, Mark Mahaney, Barton Crockett, Mark Shmulik, Bank of America's Justin Post, Keith Bachman, Citi's Tyler Radke, Morgan Stanley's Keith Weiss, Weiss, Goldman Sachs, Kash Rangan, Azure's Organizations: Meta, Microsoft, D.A, Revenue, Google, Bank of America's, Microsoft Microsoft, Nasdaq, BMO Capital Markets, BMO

☆ Snap surges 10% as it gets a major boost from AI and paid subscribers
▼ + stars: | 2024-10-30 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +4 min

Snap's revenue growth was attributed to AI features and growth in Snapchat+ users. Spiegel said Snap has also introduced AI tools for creators, which it has been pushing to onboard onto the platform recently. However, Snap projected that the current quarter will only see the number of users grow by 8 million to 451 million. Related storiesPaid subscribers and AI are boosting SnapThe CEO also attributed the revenue growth to paid subscriptions. Snap's 443 million user base is small compared to Meta's 3.3 billion users, and TikTok's more than 1 billion users, both of which it directly competes with for ad revenue.

Persons: —, Evan Spiegel, Spiegel, James Heaney Organizations: Service, Google, Jefferies

☆ Morgan Stanley says these tech stocks are table-pounding buys ahead of earnings
▼ + stars: | 2024-10-26 | by ( Michael Bloom | ) www.cnbc.com time to read: +4 min

A slate of overweight-rated tech stocks are worth buying ahead of earnings, Morgan Stanley said. Microsoft Morgan Stanley analyst Keith Weiss is sticking with the tech giant ahead of earnings. Indeed, Microsoft shares are up nearly 14% in 2024, but the firm said the stock is too attractive to ignore at current levels. Apple The firm is also standing by its top pick Apple ahead of quarterly earnings on Oct. 31, despite reports of mixed iPhone 16 demand. "We expect Apple to post a strong Sept Q top- and bottom-line beat," he added.

Persons: Morgan Stanley, Microsoft Morgan Stanley, Keith Weiss, GenAI monetization, Weiss, Atlassian Weiss, Erik Woodring, Woodring, billings Organizations: CNBC, Fortinet, Microsoft, Apple, Gross, TEAM, Apple Intelligence, … Locations: …

☆ A notorious market bear who called the 2000 and 2008 crashes shares 3 signs it's a terrible time to invest in the S&P 500 — and warns stocks are due to underperform Treasurys by 10% over the next 12 y
▼ + stars: | 2024-10-26 | by ( William Edwards | ) www.businessinsider.com time to read: +5 min

John Hussman warns of poor S&P 500 returns over the next 12 years. Current expectations have the S&P 500 underperforming Treasurys by 9.9% annually over the next 12 years. But valuations are causing skepticism about future market returns among others on Wall Street, even if not to the same degree. Related storiesEarlier this week, Goldman Sachs forecast that the S&P 500 would average 3% annual returns over the next decade. His Strategic Growth Fund is down about 55% since December 2010 and has fallen 16% in the past 12 months.

Persons: John Hussman, —, you'll, you'd, Hussman, Hussman's, it's, Goldman Sachs, It's Organizations: Treasurys, Service, Hussman Investment Trust

☆ Prospects of a Trump win and huge tariffs spark worst sell-off for emerging market stocks in 10 months
▼ + stars: | 2024-10-24 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +3 min

The slump comes as investors price in higher odds of a Trump win in the upcoming US election. Emerging market stocks are headed for their worst monthly decline since January, with the MSCI Emerging Markets Index falling for a fourth day on Thursday for a 3.1% decline this month. A select few EM stocks have taken the biggest hits, with Samsung, Alibaba, Tencent, and Meituan accounting for more than half of the index's fall. "There has been a significant change in investor sentiment, and investors' risk budgets have likely been changing as a function of that." Investors are also expressing disappointment in China's stimulus measures, which initially fueled a rally in EM stocks last month.

Persons: Trump, —, It's, Donald Trump, Joe Biden, Harris Organizations: Trump, Service, Samsung, Citi Locations: China

☆ Here are Thursday's biggest analyst calls of the day: Tesla, Apple, Meta, IBM, Microsoft & more
▼ + stars: | 2024-10-24 | by ( Michael Bloom | ) www.cnbc.com time to read: +4 min

Here are Thursday's biggest calls on Wall Street: KeyBanc downgrades Verizon to sector weight from overweight KeyBanc downgraded the telecom provider following earnings. Jefferies initiates California Resources at buy Jefferies says the energy company has a differentiated offering. " TD Cowen reiterates Microsoft as buy The firm recommended Microsoft heading into earnings next week. Bank of America reiterates Amazon as buy Bank of America touted Amazon ahead of earnings next week. Morgan Stanley reiterates Tesla as overweight The firm says it's sticking with top pick Tesla following earnings on Wednesday.

Persons: KeyBanc, Jefferies, Bernstein, ServiceNow, TD Cowen, Wells, Susquehanna, Lisa Su, SRE, Morgan Stanley, Tesla, Rosenblatt, Apple Organizations: Verizon, " Bank of America, IBM, Bank of America, CRC, Facebook, Google, Microsoft, Deutsche Bank, Deutsche, JPMorgan, NextEra Energy Partners, NextEra Energy, AMD, Sempra Energy Locations: California, Regions

☆ New Boeing CEO to give clues about company's future, while striking workers vote on new contract
▼ + stars: | 2024-10-22 | by ( Leslie Josephs | ) www.nbcnews.com time to read: +7 min

Now, new CEO Kelly Ortberg has the chance to share his vision for the troubled manufacturer, from a potential strike-ending labor agreement to a slimmed-down future. When he takes the mic for his first earnings call as Boeing’s CEO on Wednesday, more than 32,000 striking machinists will start voting on a new, sweetened contract proposal. “I think it’s going to be a tight vote,” Jon Holden, president of the International Association of Machinists and Aerospace Workers District 751, told CNBC on Tuesday. Narrowing businessesOrtberg, a longtime aerospace veteran who previously ran Rockwell Collins, took the reins at Boeing in early August. Mending ties with workers, stabilizing supply chainThe results of the union vote will come out hours after the earnings call.

Persons: Kelly Ortberg, “, ” Jon Holden, RTX, Neil Mitchill, Collins, Rockwell Collins, Robert " Kelly, Ortberg, ”, Ken Herbert, Julie Su, Holden, ” Holden, Joe Biden, Biden, —, Phil LeBeau Organizations: Boeing, International Association of Machinists, Aerospace Workers, CNBC, GE Aerospace, AFP, Getty, Air Force One, Workers, Puget, Labor, Spirit, Aerospace Industries Association Locations: underperformance, Seattle, South Carolina

☆ New Boeing CEO to give clues on company's future, while striking workers vote on new contract
▼ + stars: | 2024-10-22 | by ( Leslie Josephs | ) www.cnbc.com time to read: +5 min

When he takes the mic for his first earnings call as Boeing's CEO on Wednesday, more than 32,000 striking machinists will start voting on a new, sweetened contract proposal. Narrowing businessesOrtberg, a longtime aerospace veteran who previously ran Rockwell Collins, took the reins at Boeing in early August. Boeing's new CEO Kelly Ortberg visits the company's 767 and 777/777X programs' plant in Everett, Washington, U.S. August 16, 2024. watch nowMending ties with workers, stabilizing supply chainThe results of the union vote will come out hours after the earnings call. Meanwhile, the strike is costing Boeing $1 billion a month, according to S&P Global Ratings estimates.

Persons: Ryan Bergh, Jason Redmond, JASON REDMOND, Kelly Ortberg, Rockwell Collins, Ortberg, Marian Lockhart, Ken Herbert, Leslie Josephs Organizations: International Association of Machinists, Aerospace Workers, Seattle Union Hall, Getty, AFP, Boeing, Reuters, Air Force One, Workers, CNBC Locations: Everett , Washington, Seattle , Washington, AFP, underperformance, Everett , Washington , U.S, Seattle, Renton , Washington

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