Streetbeat News

Labor Issues

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GM

STLA

President Biden has expressed support for a 40% increase in the United Auto Workers (UAW) union. This could potentially impact the labor costs of automakers such as Ford (F), General Motors (GM), and Stellantis (STLA).

Portfolio Pulse from Benzinga Newsdesk

September 26, 2023 | 5:18 pm

DIS

Walt Disney Company (NYSE:DIS) shares are trading lower as investors await the outcome of a vote on the tentative agreement between production studios and the Writers Guild of America. The ongoing writers' strike has led to a complete shutdown in production of new content and significant profit losses for Disney. The company's shares have declined by more than 8% over the last three months and are down over 18% over the last year.

Portfolio Pulse from Erica Kollmann

September 26, 2023 | 4:59 pm

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GM

NSANY

STLA

TM

TSLA

Nissan Motor Co Ltd (OTC:NSANY) has committed to all-electric vehicles in Europe by the end of the decade and unveiled a new sporty urban electric concept car. General Motors (NYSE:GM) also committed to phase out all internal combustion engines by 2035, but a strike could complicate things. Ford Motor (NYSE:F) and Stellantis (NYSE:STLA) are also facing challenges in their transition to EVs. Toyota Motor (NYSE:TM) has been criticized for its slow EV transition, but is ramping up its EV production and claims a battery breakthrough. Tesla Inc (NASDAQ:TSLA) has sparked a price war in the EV market.

Portfolio Pulse from Upwallstreet

September 26, 2023 | 3:11 pm

OLLI

Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) celebrated a significant construction milestone for its new distribution center in Princeton, Illinois. The facility, part of Ollie's growth plan, represents a capital investment of over $75 million and is expected to create over 200 new full-time jobs. The center will service all nine Ollie's stores in Illinois and more than 150 stores across the Midwest. The facility is expected to be completed in 2024.

Portfolio Pulse from Benzinga Newsdesk

September 26, 2023 | 1:28 pm

AMC

AMC Entertainment Holdings Inc (NYSE:AMC) shares are trying to push higher after the company's CEO highlighted upside for movie theaters following news of a tentative writers strike deal. The deal includes compensation increases for streaming content, studio concessions on minimum staffing for T.V. shows and guarantees related to AI's role in the industry. AMC also announced that the Taylor Swift Eras Tour concert film will go global and begin playing at every AMC theater in the United States, beginning Oct. 13.

Portfolio Pulse from Adam Eckert

September 26, 2023 | 1:24 pm

DKS

DICK'S Sporting Goods (NYSE:DKS) plans to hire 8,600 seasonal teammates for the 2023 holiday season. The recruitment will start on October 3, during the sixth-annual 'National Signing Day'. The positions will be available at DICK'S Sporting Goods, Public Lands, DICK'S House of Sport, and Going, Going, Gone! stores across the country.

Portfolio Pulse from Benzinga Newsdesk

September 26, 2023 | 12:24 pm

UPS

UPS (NYSE:UPS) plans to hire over 100,000 seasonal employees for the 2023 holiday season. The company is offering competitive wages and multiple shifts across the country. The digital application process takes less than 20 minutes, and nearly 80% of seasonal positions do not require an interview. Nearly 50,000 seasonal employees have earned permanent positions over the past two years. UPS also offers an Earn and Learn program, providing up to $25,000 for college tuition and expenses.

Portfolio Pulse from Benzinga Newsdesk

September 26, 2023 | 12:17 pm

AZTA

Azenta has announced that Herman Cueto will join the company as Executive Vice President and CFO, effective October 16. The current CFO, Lindon Robertson, is set to retire.

Portfolio Pulse from Benzinga Newsdesk

September 26, 2023 | 12:04 pm

IDYA

Ideaya Biosciences has announced that its CFO, Paul A. Stone, will resign effective as of November 10, 2023.

Portfolio Pulse from Charles Gross

September 26, 2023 | 10:10 am

F

GM

STLA

President Joe Biden is set to visit the United Auto Workers’ (UAW) picket line in Detroit, Michigan. The UAW, which represents nearly 146,000 workers across major automakers such as Ford (NYSE:F), General Motors (NYSE:GM), and Stellantis (NYSE:STLA), is currently on strike. The strike has expanded to 38 parts and distribution locations across 20 states, primarily targeting GM and Stellantis. Ford seems to be off the hook as the company has shown seriousness in reaching a deal.

Portfolio Pulse from Benzinga Neuro

September 26, 2023 | 9:12 am