UAW President Shawn Fain will update members, and investors, on Friday about the state of labor negotiations with the Detroit Three auto makers.
Wall Street is increasingly eager for clues about how the strike against the Detroit Three auto makers might end, after a wild week that included a surprise walkout at a key Ford Motor assembly plant.
The strike started out limited with some 12,000 workers walking out at three plants. But now, about 33,000 workers are on strike, and another 5,000 have been laid off because production has been disrupted. Those 38,000 people amount to a bit more than one-fourth of the 145,000 UAW members employed by the Big Three.
In the current chess match, Fain has dominated the opening and middle games, but he needs an endgame to do the best for the membership. He has already won wage concessions, inflation protection, better retirement benefits, fewer worker classes, and the right to treat at least some new battery workers like all other UAW employees.
Murphy rates Ford stock at Buy, with a target of $23 for the price, nearly double the shares’ Thursday closing level of $12. Windau rates Ford and GM shares Hold, meaning he expects the stocks to perform in line with the market. He doesn’t have a target for their prices.
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