Union members at the Herald Square flagship and three other stores are gearing up to walk out Wednesday night
Macy's Herald Square might be in for some marching Thursday morning, but it won't resemble the retailer's traditional parade.
Instead, more than 3,500 workers from the flagship store, along with 1,500 others at three other locations, plan to walk the picket line if a contract with store management is not reached when the clock strikes 12 Wednesday night.
Members of the Retail, Wholesale and Department Store Union want a more affordable health care plan, preserved pensions and changes to scheduling and commissions policies, according to union president Stuart Appelbaum.
"Negotiations are ongoing between now and the contract deadline," he told Crain's. "Nobody wants to go on strike. But if a company forces us into a position where we have no choice, then we will strike."
The company and union leadership will negotiate until midnight, both sides said.
“With the deadline to reach an agreement nearing, we are continuing to negotiate, in good faith, on the issues still remaining on the bargaining table," Macy's spokeswoman Elina Kazan said in a statement. "We are committed to keeping the lines of communication open and continuing the talks round-the-clock with the goal of reaching an agreement that is fair and equitable both for our workers and the company."
But both union and management appear to be playing hardball. Macy's placed ads for temporary replacement workersm in local newspapers this week in order to stay in operation during a walkout.
"While many of the issues are resolved and off the table, there are still serious issues that have yet to be resolved, and therefore we must be prepared to keep our stores open and operational should there be a call by the union to strike," said Kazan, calling the hunt for temporary replacement workers "a standard but necessary practice" under the circumstances.
"Analysts and investors will be anticipating Level 3 Communications, Inc. (NYSE:LVLT)’s next earnings release which is expected to be posted on or around 2016-08-03. Sell-side research firms on Wall Street are expecting that the company will post EPS of $0.49 for the period closing on 2016-06-30. During the same quarter last year, the company posted earnings of $0.42. Whether or not the company hits or beats this expectation, among other factors, can often dictate where the stock may be headed in the short-term. Leading up to the earnings release it’s also important to note the direction the estimates have gone as analyst revisions can often provide an idea of Street sentiment on expected performance.
Most recently, Level 3 Communications, Inc. reported actual earnings of $0.34 per share against the $0.45 Zacks consensus estimate. This represents a surprise factor of -24.44% or a difference of $-0.11.
Currently, there are 9 brokerage firms covering Level 3 Communications, Inc., giving earnings per share estimates as well as future price target predictions. On a consensus basis, analysts have given the stock a $60.333 mean target price for the short term. The top price projection sees the stock hitting $68 within the year, while the most conservative estimate has a $53 target on the name.
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"Advanced Micro Devices Inc. soared as much as 26 percent in early trading Friday after it said it’s licensing technology to a Chinese, state-backed joint venture that will produce server processors for that country’s market.
The company also predicted strong growth in the current quarter. Second-quarter revenue will increase 15 percent, plus or minus 3 percent, from the preceding three months, AMD said in a statement Thursday. That indicates sales of $931.8 million to $981.8 million and compares with an average analyst estimate of $890.8 million, according to data compiled by Bloomberg."
How soon til we're back to $40.00 level again? (At this point even $4.00 looks nice)