Streetbeat News

Labor Issues

WBD

Warner Bros. Discovery has postponed the release of 'Dune: Part Two' due to the ongoing SAG strike, causing its shares to trade lower.

Portfolio Pulse from Benzinga Newsdesk

August 25, 2023 | 5:16 pm

F

GM

STLA

Members of the United Auto Workers union have voted to strike at Detroit's three major automakers: General Motors (GM), Ford (F), and Stellantis (STLA).

Portfolio Pulse from Happy Mohamed

August 25, 2023 | 2:54 pm

GM

General Motors' joint venture, Ultium Cells, has agreed to raise wages by $3 to $4 per hour at its Ohio battery plant. The agreement with the Union Auto Workers (UAW) will also include back pay for hundreds of workers. Ultium Cells, a partnership between General Motors and LG Energy Solution, produces battery cells for GM's battery fleet. The wage increase follows months of negotiations and a public UAW campaign.

Portfolio Pulse from Shivani Kumaresan

August 25, 2023 | 12:28 pm

KAMN

Kaman Corporation's CFO, James Coogan, is set to step down on August 28. Carroll Lane will serve as the interim CFO.

Portfolio Pulse from Benzinga Newsdesk

August 25, 2023 | 11:47 am

AMC

CNK

GME

SONY

WBD

The Hollywood actors' strike has led Warner Bros. Discovery, Inc (NASDAQ:WBD) to postpone the release of 'Dune: Part Two' from November to March 15, 2024. This rescheduling poses challenges for cinema chains like AMC Entertainment Holdings, Inc (NYSE:AMC), Cineplex, and Cinemark Holdings Inc (NYSE:CNK), who were banking on the film's release to boost their post-pandemic recovery. Sony Group Corp (NYSE:SONY) Sony Pictures also tweaked its release plan for 'Dumb Money', a movie inspired by GameStop Corp's (NYSE:GME) stock surge.

Portfolio Pulse from Anusuya Lahiri

August 25, 2023 | 11:36 am

SPCE

Elon Musk, CEO of SpaceX, tweeted about the International Traffic in Arms Regulations (ITAR) law, stating that US companies with advanced weapons technology, such as rockets with intercontinental range, must hire people who are permanent American residents.

Portfolio Pulse from Charles Gross

August 25, 2023 | 9:34 am

OC

Owens Corning's CFO, Kenneth Parks, has announced his resignation effective September 15, 2023, to pursue another opportunity. The company has appointed Todd W. Fister as the new CFO, effective upon Parks' resignation.

Portfolio Pulse from Benzinga Newsdesk

August 24, 2023 | 8:39 pm

JOAN

JOANN Inc. (NASDAQ:JOAN) plans to hire more than 5,000 new team members for the holiday season. The company is hosting a national hiring event on September 1 and 2. Benefits for new employees include a 30% discount, flexible work scheduling, and access to various resources.

Portfolio Pulse from Happy Mohamed

August 24, 2023 | 8:27 pm

WSFS

WSFS Financial Corporation has announced that Arthur J. Bacci will serve as the company's interim CFO. The current CFO, Dominic C. Canuso, will end his employment with the company on August 31, 2023.

Portfolio Pulse from Benzinga Newsdesk

August 24, 2023 | 8:25 pm

DOCN

DigitalOcean (DOCN) has initiated a search for a new CEO as Yancey Spruill is set to step down once a successor is appointed.

Portfolio Pulse from Benzinga Newsdesk

August 24, 2023 | 8:23 pm