UPS and the Teamsters reached a new contract impacting over 300,000 workers and avoiding a strike that could have rocked the U.S. economy.
The delivery giant is the biggest employers for the Teamsters.
GM lifted its full-year outlook and now expects to earn $14 billion in EBIT net income more than the prior goal of $13 billion. However, the company's net income margins in the second quarter slipped to 5.9% from 6.5% giving investors some concern. The automaker is promising to reach $2 billion in cost cuts.
Walmart shares were upgraded to a new buy rating or "overweight" from hold by firm Piper Jaffray. The team says the stock can hit $210 per share, up from a prior target of $145 as the nation's largest retailer gains more market share in the grocery business as inflation eases.
{{#rendered}}The Federal Reserve is widely expected to raise interest rates on Wednesday but the big question is whether this will be the final move of 2023?
| Symbol | Price | Change | %Change |
|---|---|---|---|
| UPS | $187.91 | -0.43 | -0.23 |
UPS and the Teamsters are back at the negotiating table after days of inaction. The union is looking for a number of things in the new contract including higher pay. Currently part-time members earn, at minimum, $16.20 an hour. A strike, which would start on July 31, could upend the U.S. economy, according to economists.
UPS has already agreed to upgrade smaller trucks with air conditioning.
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