Boeing stock pops on tentative agreement with union to end strike as overall cost nears $10 billion

Published On Nov 1, 2024, 1:04 PM

Boeing's stock is rising after the company reached a tentative agreement with its main union, the International Association of Machinists, to end an ongoing strike. The new deal includes a 38% pay increase over four years, a total of $12,000 in bonuses and improvements to retirement plans and healthcare premiums. Investors welcome this news amid significant losses reported by Boeing in the previous quarter, as it suggests a potential turnaround for the company.

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The tentative agreement to end the strike is likely to stabilize Boeing's operations and restore confidence among investors, which could lead to an increase in stock performance as production resumes and costs related to the strike diminish.

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