UAW strike, Planet Fitness CEO, Instacart IPO price: Top stories
The United Auto Workers are striking all of the Big Three automakers, Ford (F), General Motors (GM), and Stellantis (STLA), for the first time ever. This is a targeted strike as only three plants are impacted by the stoppage.
Planet Fitness (PLNT) shares close the week in the red as longtime CEO Chris Rondeau was ousted from his role.
Instacart (CART) raises the price range of its IPO ahead of its debut. Shares are set to be priced between $28 and $30.
Yahoo Finance's Brad Smith breaks down some of the top stories of the day.
Video Transcript
BRAD SMITH: It's closing time here at Yahoo Finance, and here's a look at some of the top stories of the day. An historic strike, getting underway by the United Auto Workers Union. For the first time ever, workers are striking against all three major automakers. But this is a targeted strike, with only three plants affected by the stoppage. Nearly 13,000 employees of GM, Stellantis, and Ford, walking off the job. President Biden calling on both sides to reach a deal, and said the automakers should reward employees as profits have risen.
A surprise shakeup at Planet Fitness. Long time CEO Chris Rondeau ousted by the company's board, and the stock sliding to a 52-week low on the news. It's unclear what spurred the move, but board director Craig Benson will take over as interim CEO.
Plus, Instacart raising the price range of its upcoming initial public offering. It's now set to price shares between $28 and $30 a piece. The company likely to price shares after the close on Monday, and will start trading on Tuesday.
