Streetbeat News

MBGYY

Mercedes-Benz Group AG

https://www.daimler.com/

CEO

Ola Kaellenius

Open

14.08

Mkt cap

65B

Volume

29K

High

14.08

P/E Ratio

5.27

52-wk high

20.81

Low

13.92

Div yield

0.08

52-wk low

13.87

The U.S. Department of Justice has concluded its investigation into Mercedes-Benz Group AG (OTC:MBGYY) regarding exhaust emissions without filing charges. This closure is seen as a significant legal milestone for the company, particularly in relation to diesel-related issues. Mercedes-Benz's stock has seen a positive trend, gaining over 2% in the last 12 months, with a recent increase of 1.22% to $19.84.

Portfolio Pulse from Shivani Kumaresan

April 29, 2024 | 2:24 pm

UAW President Shawn Fain announced the continuation of a $40M campaign to unionize autoworkers at 35 non-union U.S. plants of major automakers including Volkswagen, Mercedes-Benz, Tesla, BMW, Toyota, Nissan, and Hyundai, following a significant union victory at a Volkswagen plant in Tennessee. This win represents the union's first success in a Southern car facility owned by a foreign auto manufacturer, with a scheduled election at two Mercedes-Benz plants in Alabama next.

Portfolio Pulse from Anthony Noto

April 22, 2024 | 6:31 pm

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

Mercedes-Benz Group AG (MBGYY) faces liability after a German court ruled against it in a diesel emissions case, holding the company responsible for using emissions-cheating devices in certain diesel cars. The Stuttgart Appeals Court's decision allows owners of affected Mercedes GLC and GLK models to pursue individual claims for compensation. Mercedes-Benz intends to appeal the decision. This case is similar to a previous lawsuit against Volkswagen AG (VWAGY), which settled for €830 million over a diesel emission scandal.

Portfolio Pulse from Shivani Kumaresan

March 28, 2024 | 1:42 pm

Major automakers, including General Motors (GM), Toyota (TM), Volkswagen (VWAGY), Ford (F), Mercedes-Benz (MBGYY), BMW (BMWYY), Hyundai (HYMTF), and Kia, along with air bag manufacturers, are opposing the NHTSA's recommendation to recall 52 million air bag inflators over rupture concerns. The recall, if enforced, would be the second-largest in U.S. automotive history. Automakers argue the risks are minimal, with ARC estimating less than one rupture in the next 33 years. GM and Stellantis (STLA) have called NHTSA's actions arbitrary and contrary to law. GM shares dropped slightly in premarket trading.

Portfolio Pulse from Shivani Kumaresan

December 20, 2023 | 12:23 pm

Huawei is reportedly in talks with Audi and Mercedes-Benz about potential investments in its smart car business, according to sources cited by Reuters. The discussions are part of Huawei's efforts to diversify its business amid US sanctions that have impacted its core telecom equipment and smartphone operations. The move into the smart car industry represents a strategic pivot for Huawei, leveraging its technological capabilities in a new sector.

Portfolio Pulse from Charles Gross

December 11, 2023 | 10:51 am

The United Auto Workers (UAW) union has launched a campaign to unionize workers at 13 non-union automakers in the U.S., targeting nearly 150,000 workers from companies like BMW, Honda, Hyundai, Lucid, Mazda, Mercedes-Benz, Nissan, Rivian, Subaru, Tesla, Toyota, Volkswagen, and Volvo. UAW President Shawn Fain, after securing contracts with GM, Ford, and Stellantis, is looking to expand the union's reach beyond the 'Big Three' Detroit automakers by 2028. The UAW's membership has declined over the years, but recent successes have led to wage increases at non-union companies, known as the 'UAW bump.' Past efforts to unionize at foreign-based automaker plants and Tesla's Fremont plant have seen limited success.

Portfolio Pulse from Michael Cohen

November 29, 2023 | 10:37 pm

BYD Company Limited reported its highest ever quarterly profit for Q3, outperforming Tesla Inc. Li Auto, XPeng, and Nio also recorded delivery records in October. Li Auto aims to become the top-selling luxury brand in China, with sales rising 664% YoY in August. XPeng, backed by Volkswagen, delivered a record 20,002 units in October, a 292% YoY growth. Nio reported a 59.8% YoY growth in October deliveries.

Portfolio Pulse from Upwallstreet

November 01, 2023 | 4:26 pm

Major electric vehicle (EV) stocks declined in the week ending Oct. 27, with Tesla (TSLA) extending its lean patch. Tesla debuted on Fortune’s list of 100 fastest-growing companies in 2023 and announced modest price hikes for some Model Y variants. Ford (F) is pushing back its $12 billion EV investment due to losses and market challenges. Mercedes-Benz (MBGAF, MBGYY) reported disappointing Q3 results and lowered its full year guidance. Nikola (NKLA) was awarded $165 million plus interest in an arbitration proceeding with its founder. Fisker (FSR) announced price cuts for its top trim Extreme. The KraneShares Electric Vehicles and Future Mobility Index ETF (KARS) fell 2.64% for the week.

Portfolio Pulse from Shanthi Rexaline

October 28, 2023 | 1:55 pm

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