Streetbeat News

MBGAF

Mercedes-Benz Group AG

https://www.daimler.com/

CEO

Ola Kaellenius

Industry

Automobile Manufacturing

Open

54.41

Mkt cap

57B

Volume

5.4K

High

54.50

P/E Ratio

4.83

52-wk high

83.50

Low

54.15

Div yield

0.10

52-wk low

53.78

South Korea is considering a mandate for automakers to disclose the brands of batteries used in their EVs following a recent fire incident involving a Mercedes-Benz EV. This move aims to address rising safety concerns and could impact automakers like Hyundai, Mercedes-Benz, and Volkswagen.

Portfolio Pulse from Benzinga Neuro

August 12, 2024 | 8:41 am

A Morgan Stanley survey reveals that Tesla's brand appeal is waning among the younger generation, with a preference for gasoline-powered cars over electric vehicles. The survey also highlights strong loyalty towards Apple products. Tesla's desirability has decreased, while Mercedes-Benz and BMW have gained favor. Tesla and Apple stocks saw slight declines in premarket trading.

Portfolio Pulse from Shanthi Rexaline

August 08, 2024 | 8:17 am

China has vowed to protect its interests against the European Union's potential imposition of tariffs on Chinese electric vehicles (EVs). The EU plans to apply provisional duties of up to 25% on Chinese EV imports starting next month, which could escalate to 35%. This move aims to counteract Chinese government subsidies to its manufacturers. Companies like BYD Co, SAIC, Tesla, Volkswagen, Stellantis, Mercedes Benz, and NIO will be impacted. Reactions from these companies and industry experts are mixed, with concerns about market impact and potential retaliatory measures from China.

Portfolio Pulse from Benzinga Neuro

June 12, 2024 | 1:12 pm

The United Auto Workers (UAW) union is pushing for a new election at the Mercedes-Benz plant in Alabama, alleging unfair labor practices influenced the initial vote. Mercedes-Benz denies these allegations, maintaining adherence to NLRB guidelines.

Portfolio Pulse from Benzinga Neuro

May 27, 2024 | 6:06 am

Tesla Inc. (NASDAQ:TSLA) is advancing its strategy to enhance its self-driving system using data collected in China by developing a local data center. This move aligns with broader efforts to secure local processing capabilities for its Full Self-Driving (FSD) system amid U.S. restrictions on AI technology transfers to China. Tesla has engaged in discussions with Nvidia Corp (NASDAQ:NVDA) regarding graphics processing units, although U.S. sanctions limit the sale of advanced chips to China. Tesla stock has gained more than 0.5% in the last 12 months, and investors can gain exposure via ETFs like Consumer Discretionary Select Sector SPDR Fund (NYSE:XLY) and Fidelity MSCI Consumer Discretionary Index ETF (NYSE:FDIS).

Portfolio Pulse from Shivani Kumaresan

May 17, 2024 | 10:59 am

At the Google Cloud Next conference, Alphabet (GOOG/GOOGL) announced its focus on generative AI to revolutionize business operations, directly competing with Microsoft (MSFT) and OpenAI. Google introduced AI-powered tools for B2B enterprises, including Google Vids for video creation, Imagen 2 for video clips from text, and Code Assist for coding assistance. Additionally, Google Cloud is expanding its partnership with Mercedes-Benz (MBGAF/MBGYY) to enhance customer experiences with AI technologies. This marks a significant step in Google's AI strategy, positioning it as a key player in the AI race against Microsoft.

Portfolio Pulse from Upwallstreet

April 11, 2024 | 10:13 am

Workers at Mercedes Benz Group AG's Alabama factory petitioned for a UAW union election, aiming to file with the NLRB. The UAW claims over 5,000 workers support joining, with a vote expected by early May. Mercedes denies violating Germany's global supply chain law. The UAW's efforts extend to other non-union automakers like Hyundai, Toyota, Tesla, and Rivian, with UAW President Shawn Fain seeking to expand union representation. President Biden supports UAW's efforts. Volkswagen workers in Tennessee also seek a UAW vote.

Portfolio Pulse from Shivani Kumaresan

April 05, 2024 | 4:39 pm

The collapse of the Francis Scott Key Bridge, impacting the Port of Baltimore, has caused Tesla, Ford, and GM to seek alternative shipping routes. Ford anticipates a significant impact, while GM expects minimal disruption. European carmakers and cruise operators also anticipate adjustments, with Carnival Corporation forecasting a $10 million negative impact. Coal exporters and rail freight services face challenges, with Consol Energy and CSX Corporation noting potential operational impacts.

Portfolio Pulse from Neil Dennis

March 27, 2024 | 3:07 pm

Nucor Corporation has partnered with Mercedes-Benz to supply low-carbon steel for vehicle production, aligning with sustainability goals. ATI Inc. launched a new forging press to enhance titanium production for aerospace and defense. The Global X Copper Miners ETF saw a significant surge due to a rise in copper prices, driven by market tightness. Commercial Metals Company announced an increased quarterly dividend.

Portfolio Pulse from Austin DeNoce

March 20, 2024 | 9:06 pm

The electric vehicle (EV) market is experiencing a slowdown, leading major automakers like Ford, General Motors, Mercedes-Benz, Volkswagen, Jaguar Land Rover, and Aston Martin to adjust their strategies towards offering a mix of gas-powered, hybrid, and fully electric vehicles. Despite a record 1.2 million EV sales in the U.S. last year, the growth rate has not met expectations, prompting a more balanced approach to vehicle offerings. Fisker Inc issued a going-concern warning and announced workforce reductions due to financial struggles, while Tesla remains optimistic about its future, supported by its AI and Full Self-Driving technology.

Portfolio Pulse from Benzinga Neuro

March 14, 2024 | 8:38 am

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