Union machinists at Boeing (BA) are extending a six-week strike, having voted to reject the struggling plane maker’s latest contract proposal; Tesla (TSLA) shares are jumping in premarket trading after the EV maker delivered bigger-than-expected profit; United Parcel Service (UPS) shares are surging after the shipping company beat earnings projections and returned to growth; IBM (IBM) shares are declining, weighing on Dow Jones Industrial Average futures, after its results disappointed; and Southwest Airlines (LUV) registers an earnings beat and agrees to a deal with Elliott Investment Management for board representation. Here’s what investors need to know today.

1. Boeing Machinists Reject Contract, Extending 6-Week Strike

The Boeing (BA) machinists union rejected a contract offer from the aircraft maker, extending a six-week strike that has hobbled the company. The 33,000-member union voted 64% against a contract that would have given workers a 35% pay increase over four years. The union vote came hours after the company posted a wider-than-expected loss in its third-quarter earnings report. Boeing shares are declining by 4% in premarket trading.

2. Tesla Stock Soars After Profit Tops Estimates

Tesla (TSLA) shares are jumping 13% in premarket trading after the electric vehicle (EV) maker reported better-than-expected net income behind improved profit margins. Tesla posted third-quarter net income of $2.17 billion or 62 cents per share, up from $1.85 billion or 53 cents per share a year ago, topping analysts’ estimates as margins rose to 19.8% from 17.9%. Revenue grew 8% year-over-year to $25.18 billion, slightly missing the analyst consensus from Visible Alpha. The company said it “plans for new vehicles, including more affordable models, remain on track for start of production in the first half of 2025.”

3. UPS Stock Surges on Better-than-Expected Revenue, Profit

United Parcel Service (UPS) shares are surging by nearly 8% in premarket trading after it reported third-quarter results above analysts’ expectations, returning to revenue and profit growth for the first time in nearly two years. The shipping giant reported revenue of $22.2 billion, better than the $21.94 billion consensus estimate of analysts compiled by Visible Alpha. Net income came in at $1.54 billion, or $1.80 per share, above projections, which called for $1.36 billion and $1.59 per share.

4. IBM Stock Falls, Weighing on Dow Futures, as Results Disappoint

Shares of IBM (IBM) are falling about 4% in premarket trading, weighing on Dow Jones Industrial Average futures, after its results disappointed. The company reported third-quarter revenue of $14.97 billion, up 1% year-over-year and 2% in constant-currency terms but lower than the $15.07 billion consensus estimate of analysts polled by Visible Alpha. IBM posted net loss of $330 million, or $0.36 per share, due to a $2.7 billion pension-settlement charge. Analysts expected a profit of $1.72 billion, or $1.84 per share.

5. Southwest Airlines Tops Estimates, Agrees To Board Changes

Southwest Airlines (LUV) reported third-quarter results beat estimates and agreed to board changes early Thursday, but shares are little changed following the news. The discount airline reported net income of $67 million, or 11 cents a share, compared with consensus analysts’ estimates of $19.8 million, or 3 cents a share, according to Visible Alpha. Revenue of $6.87 billion topped projections of $6.77 billion. The company also agreed to appoint to its board of directors a slate of candidates that represent Elliot Investment Management, the activist investor that owns about 11% of the airline and had been pressing for change at the airline.