Streetbeat News

PCRFY

Panasonic Holdings Corporation

https://www.panasonic.com/

CEO

Kazuhiro Tsuga

Industry

Audio and Video Equipment Manufacturing

panasonic corporation is one of the largest electronic product manufacturers in the world, comprised of over 634 companies. it manufactures and markets a wide range of products under the panasonic brand to enhance and enrich lifestyles all around the globe.

Open

9.38

Mkt cap

22B

Volume

14K

High

9.38

P/E Ratio

6.59

52-wk high

12.75

Low

9.21

Div yield

0.02

52-wk low

8.59

Panasonic has reaffirmed its plans to build a third electric vehicle (EV) battery plant in the United States, according to a Nikkei report. This move is part of Panasonic's strategy to meet the growing demand for EV batteries, particularly from major automakers in the U.S. market.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 7:22 pm

Panasonic Holdings is collaborating with Amazon to create smart TVs that recommend content based on user viewing history. Showcased at CES, the OLED model with Amazon's Fire TV will launch in Japan and Europe in spring. The TVs will also aim to integrate with in-vehicle displays and smartphones for a seamless content experience. Despite a 5% decline in global flat-screen TV shipments in 2022, Panasonic is innovating to compete with market leaders like Samsung and Hisense.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 5:06 pm

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

Tesla Motors Canada and Panasonic have been granted a U.S. Patent (#11824160) for battery systems based on two-additive electrolyte systems that include 2-furanone. The patent also covers the method of the formation process of these battery systems.

Portfolio Pulse from Charles Gross

November 21, 2023 | 10:41 am

Panasonic Holdings Corp (OTC:PCRFY) plans to sell part of its automotive systems division to funds managed by Apollo Global Management (NYSE:APO). They signed an MOU to become strategic partners in Panasonic Automotive Systems Corporation's business, aiming to finalize the agreement by March 31, 2024. PAS specializes in infotainment systems and other advanced vehicle technologies. Panasonic is also considering a future listing of this business segment.

Portfolio Pulse from Shivani Kumaresan

November 17, 2023 | 6:00 pm

Electric vehicle stocks advanced in the week ending Nov. 3, with key events including Tesla's potential unionization, Rivian hiring a Mercedes-Benz veteran, and Nikola's Q3 loss widening due to a battery fire recall. Fisker shares ended lower for the week due to weakness in the EV market and the departure of its CTO. Nio plans to cut 10% of jobs in November. The KraneShares Electric Vehicles and Future Mobility Index ETF fell 4.25% for the week.

Portfolio Pulse from Shanthi Rexaline

November 04, 2023 | 1:09 pm

The U.S. Treasury's announcement of borrowing $1.592T over six months is causing investors to buy stocks. However, the details of the Treasury's issuance, which could significantly impact yields and bonds, are yet to be announced. Tesla's stock is trading below $200 due to lower than expected earnings from ON Semiconductor Corp, a supplier of silicon carbide chips for electric vehicles, and Panasonic Holdings Corp cutting battery production. This has also impacted other EV stocks and lithium stocks. Earnings from Caterpillar Inc., Pfizer Inc., Amgen, Inc., and BP plc are lower than expected. Bank Of Japan is abandoning strict yield control, which could negatively impact the U.S. stock market in the long term. China's factory activity has returned to contraction, and Eurozone inflation eases.

Portfolio Pulse from The Arora Report

October 31, 2023 | 4:01 pm

Tesla's stock continues to lag behind the broader market recovery, sliding below the $200 mark. Bearish analyst Gordon Johnson from GLJ Research predicts the stock could fall to his price target of $24.33. Johnson also noted that the revamped Model 3, named Project Highland, is not selling well. Tesla's CEO Elon Musk has also raised investor concerns by suggesting macroeconomic factors are impacting the company's fundamentals. Other factors affecting Tesla's stock include On Semiconductor's guidance miss and Panasonic's cut in domestic battery production due to weak demand for Tesla Model S and X EVs.

Portfolio Pulse from Shanthi Rexaline

October 31, 2023 | 5:55 am

Southwest Airlines may face a fine due to operational disruptions last December. Healthpeak Properties and Physicians Realty Trust are merging in a $21B deal. Google can turn ANC headphones and wireless earbuds into heart rate monitors. Toyota's September sales grew due to strong demand. Rivian will start charging for its charging network. Autoliv plans to reduce its headcount in France. FDA warns against the use of certain eye drops. Nelson Peltz gains backing from Isaac Perlmutter for changes at Disney. TC Energy explores asset sales worth $10B. Amazon uses generative AI for holiday ad boost. Blackstone buys a majority stake in Care Hospitals in India. McDonald's Q3 sales grew by 14% YoY. HSBC's Q3 revenues increased by 40% YoY. Panasonic's H1 FY24 sales grew by 1% YoY. Western Digital plans to split its business. XPO's Q3 FY23 revenue grew by 1.7% YoY.

Portfolio Pulse from Vandana Singh

October 30, 2023 | 2:07 pm

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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