Streetbeat News

PCRFF

Panasonic Holdings Corporation

https://www.panasonic.com/

CEO

Kazuhiro Tsuga

Employees

330,767

Industry

Audio and Video Equipment Manufacturing

Open

10.24

Mkt cap

24B

Volume

500

High

10.24

P/E Ratio

10.52

52-wk high

10.45

Low

10.20

Div yield

0.02

52-wk low

6.85

Panasonic has completed preparations for mass production of high-capacity 4680 EV batteries at its Wakayama plant, which will serve as a testing site for global processes. This move is crucial for the EV market as demand for efficient batteries grows. Panasonic is a key supplier for Tesla, which faces competition from Chinese automakers.

Portfolio Pulse from Benzinga Neuro

September 09, 2024 | 9:49 am

Oracle Corporation (NYSE:ORCL) has seen a significant surge in market capitalization to nearly $400 billion due to its strategic pivot to AI and cloud computing. The company's shares soared by 13% on Wednesday, adding $45 billion in market value. Oracle's cloud services are crucial for AI innovators like OpenAI, and the company signed over 30 AI sales contracts in Q4 totaling more than $12.5 billion. Meanwhile, Salesforce Inc (NYSE:CRM) has faced a more turbulent financial journey, with a market cap of $230 billion. Panasonic Information Systems has selected Oracle Exadata Database Service on Oracle Cloud Infrastructure (OCI) for its internal systems.

Portfolio Pulse from Shivani Kumaresan

June 13, 2024 | 4:56 pm

Elon Musk, CEO of Tesla Inc. (NASDAQ:TSLA), during an earnings call, highlighted the competitive edge of Chinese automakers, particularly noting their potential to 'demolish' global rivals if not for trade barriers. Musk acknowledged BYD (OTC:BYDDF) (OTC:BYDDY) as a key battery supplier, along with Panasonic (OTC:PCRFF) (OTC:PCRFY), CATL, and LG (OTC:LGEIY), and plans to increase orders in 2024. Despite Tesla's revenue increase to $25.17 billion in Q4, it fell short of expectations. The rise of Chinese EV makers like BYD, which outsold Tesla in the last quarter, is intensifying competition, prompting Tesla to reduce prices in China and Europe.

Portfolio Pulse from Benzinga Neuro

January 25, 2024 | 3:10 am

Panasonic Holdings Corporation has canceled plans to build a new electric vehicle battery plant in Oklahoma, which was intended to supply batteries for Tesla, Inc. Despite this, Panasonic Energy reaffirms its commitment to the EV industry in the U.S. and its operations in Nevada and Kansas remain unaffected. The company recently agreed to buy silicon anode material from Sila Nanotechnologies Inc. for use in EV batteries. Panasonic's stock (PCRFF) fell by 0.93% to $9.56.

Portfolio Pulse from Nabaparna Bhattacharya

December 20, 2023 | 1:43 pm

NIO Inc. (NYSE:NIO) is planning to spin off its battery manufacturing division to attract external investors and improve profitability. The division, with expertise from former Apple Inc. (NASDAQ:AAPL) and Panasonic Holdings Corporation (OTC:PCRFF) engineers, aims to complete the spin-off by year-end. The new facility is expected to produce batteries for approximately 400,000 EVs annually. Despite a 40% decline over the past year, NIO's stock rose after Q3 delivery numbers exceeded expectations and the company announced the acquisition of manufacturing assets from Anhui Jianghuai Automobile Group Corp.

Portfolio Pulse from Nabaparna Bhattacharya

December 06, 2023 | 10:50 am

Panasonic Holdings Corp reported a 1% Y/Y sales growth in H1 FY24, with strong performance in the Automotive and Connect segments. However, the company lowered its FY24 revenue and operating profit outlook due to deteriorating market conditions and the impact of the U.S. IRA Tax Credit accounting treatment. The energy segment, which supplies Tesla Inc, also saw a reduction in its full-year operating profit forecast.

Portfolio Pulse from Lekha Gupta

October 30, 2023 | 12:41 pm

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