PCRFY - Panasonic Corporation

Other OTC - Other OTC Delayed Price. Currency in USD
10.99
-0.17 (-1.52%)
At close: 3:56PM EST
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Previous Close11.16
Open10.95
Bid0.00 x 0
Ask0.00 x 0
Day's Range10.95 - 11.05
52 Week Range7.46 - 11.77
Volume187,252
Avg. Volume187,963
Market Cap25.631B
Beta (5Y Monthly)1.37
PE Ratio (TTM)12.24
EPS (TTM)0.90
Earnings DateN/A
Forward Dividend & Yield0.27 (2.45%)
Ex-Dividend DateSep 25, 2019
1y Target Est9.58
  • Moody's

    Panasonic Corporation -- Moody's downgrades Panasonic to Baa1, maintains negative outlook

    Moody's Japan K.K. has downgraded Panasonic Corporation's issuer and senior unsecured ratings to Baa1 from A3. "The downgrade of Panasonic's ratings reflects our expectation that the company will not be able to improve its profitability to levels in line with those of similarly rated global peers over the next 1-2 years, given continued weakness in its operating performance and slow progress in turning around its business," says Masako Kuwahara, a Moody's Vice President and Senior Analyst.

  • PR Newswire

    The Panasonic Foundation Teams Up With Kareem Abdul-Jabbar's Camp Skyhook To Develop Next-Gen Innovators Through STEM Education

    For more than 100 years, Panasonic has been committed to making positive contributions to society. The Panasonic Foundation today announced that it has contributed $100,000 to the Skyhook Foundation. This contribution supports Camp Skyhook, an immersive, outdoor learning experience in the Angeles National Forest that aims to initiate and encourage children's interest in STEM (Science, Technology, Engineering, and Math). The contribution is intended to help cut down Camp Skyhook's current six-year waiting list and enable greater access to STEM experiences for kids in underserved communities.

  • Barrons.com

    Tesla Stock Jumped 20%. It Makes No Sense.

    Tesla’s 20% jump Monday—and its nearly 14% gain Tuesday—baffled investment pros. A few offered some possible reasons for the incredible move, or suggested what might be next for the stock.

  • Another day, another record: Tesla shares march toward $1,000
    Reuters

    Another day, another record: Tesla shares march toward $1,000

    The latest surge was partly fueled by Panasonic Corp saying on Monday its automotive battery venture with Tesla was in the black for the first time. "Investors are now starting to believe that Tesla can make mass-volume electric vehicles, and automakers, battery makers and suppliers can make money from EVs," said Cho Hyun-ryul, analyst at Samsung Securities. Short interest in Tesla stood at 13.8% as of Jan. 30, according to Refinitiv data.

  • Financial Times

    Panasonic’s joint venture with Tesla turns first profit

    Panasonic’s battery venture with Tesla has eked out a quarterly profit for the first time, providing some relief for the Japanese company that has so far failed to make its $1.6bn bet on the US electric ...

  • Tesla Gains Most Since 2013 on Panasonic Profit, Bullish Target
    Bloomberg

    Tesla Gains Most Since 2013 on Panasonic Profit, Bullish Target

    (Bloomberg) -- Tesla Inc. shares surged 20% Monday, adding more than $23 billion to the stock’s market value, boosted by earlier-than-expected profitable operations at its Gigafactory and a flurry of other good news.It’s just another day in the green for Elon Musk & Co., who have seen the stock climb 15 sessions out of 22 this year, adding more than $360 as the company notched one success after another. So far this year the company has opened its long-awaited Shanghai factory; delivered blowout quarterly results, including its fourth profitable period in six; accelerated Model Y deliveries and pledged to deliver at least 35% more vehicles than it did last year.The signs of progress have spurred a rally that even global concerns over the coronavirus contagion couldn’t dent. The stock rocketed 86% in the first month of the year, pushing its market value past Volkswagen AG. The percentage surge in just the last three trading days more than exceeded the 26% gain Tesla saw all of last year.“Last week’s earnings and guidance completed ‘comeback story for the history books’ from the dark days seen last April,” wrote Wedbush analyst Dan Ives, who sees Tesla reaching $1,000 per share in his most bullish scenario. He sees “clear momentum around global EV demand inflection heading into 2020 and beyond, with Tesla leading the charge.”On Monday, Panasonic Corp., which makes batteries for Tesla at its jointly operated battery plant in Nevada, said the business turned profitable in the period ended Dec. 31, a full quarter ahead of its past expectations. The rapid increase in Tesla’s output helped push that business into the black, Panasonic Chief Financial Officer Hirokazu Umeda told reporters in Tokyo on Monday, declining to give specific figures.At the same time, Tesla shored up its battery supply through a two-year contract with Chinese maker Contemporary Amperex Technology Co. Ltd. that starts in July. The stock rose 20% Monday to $780, a record high closing price that’s 67% above the average analyst price target of $466.78.Also Monday, Argus analyst Bill Selesky raised his price target on Tesla to a Street-high of $808 from $556, reflecting revenue growth from the legacy Model S and Model X cars, as well as strong demand for the new Model 3, which accounted for more than 80% of fourth-quarter production.“Despite past production delays, parts shortages, labor cost overruns, and other difficulties, we expect Tesla to benefit from its dominant position in the electric vehicle industry and to improve performance in 2020 and beyond,” the analyst wrote in a note to clients. Selesky reiterated a buy rating.Ardent Tesla bull Catherine Wood of ARK Investment Management said in an interview with Bloomberg over the weekend that the stock is still “incredibly undervalued.” According to ARK’s latest note, published on Jan. 31, its 2024 expected value per share for Tesla is $7,000.And Baillie Gifford & Co., Tesla’s biggest shareholder after Musk, increased its stake in the company, according to a regulatory filing earlier Monday. Baillie Gifford now holds a 7.67% stake in the company, up from 7.46% previously.After kicking off 2019 on unsure footing, with doubts about demand and profitability swirling and weighing on the shares, Tesla’s stock bounced back in the second half of the year and has taken off over the past few months, as the company posted profits for both the third and fourth quarters, deliveries impressed investors and the China factory came online faster than expected.Tesla’s market capitalization is now hovering at $140.6 billion, dwarfing that of legacy carmakers such as General Motors Co., Ford Motor Co. and even Volkswagen’s $82 billion. It’s now the second-largest carmaker in the world, behind just Toyota Motor Corp., valued at about $227 billion.Taking the Nasdaq 100 Stock Index as a guide, which trades at an average price-to-earnings multiple of 28, justifying Tesla’s market valuation would require an annual profit of about $4.9 billion. Last week, the company reported an adjusted net loss of about $744 million for 2019, according to Bloomberg data. While analysts do expect the company to turn a profit this year, they’re anticipating about $1.42 billion in net income.(Corrects annotation in chart to denote Volkswagen)To contact the reporter on this story: Esha Dey in New York at edey@bloomberg.netTo contact the editors responsible for this story: Brad Olesen at bolesen3@bloomberg.net, Scott SchnipperFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Tesla stock jumps 20% in one day on Panasonic's earnings
    Autoblog

    Tesla stock jumps 20% in one day on Panasonic's earnings

    TOKYO/SAN FRANCISCO — Tesla's stock surged 20% on Monday in its largest one-day gain since 2013, fueled by a quarterly profit at Panasonic's battery business, with the U.S. car maker and an investor report predicting its shares would rise more than ten-fold by 2024. Tesla stock was up another $100 or more in overnight after-hours trading. Shares of Tesla have rallied by over 30% since the car maker run by Chief Executive Elon Musk posted its second consecutive quarterly profit last Wednesday, which was viewed as a milestone for the company competing against established heavyweights including General Motors Co and BMW.

  • Toyota-Panasonic joint venture to start producing EV batteries
    Autoblog

    Toyota-Panasonic joint venture to start producing EV batteries

    Toyota Motor Corp and Panasonic Corp have agreed to set up a joint venture that will begin developing electric vehicle (EV) batteries from April, as the Japanese companies gear up for an expected surge in demand. The new company, called Prime Planet Energy and Solutions, will develop prismatic - or square-shaped - batteries that will be available to any automaker, the two companies said in a statement on Monday. It will begin operations on April 1 with more than 5,000 employees, with Toyota owning 51% and Panasonic holding the remainder, the pair said.

  • TheStreet.com

    Tesla Shares Zoom Past $700 on Analyst Upgrades, Positive Battery Production News

    Panasonic reported increased production and efficiency in its Tesla battery unit, helping to drive shares of the carmaker to a new intraday high on Monday.

  • Benzinga

    Panasonic Reports Q3 Earnings Beat, As Shares Tank After Tesla's CATL Partnership

    The Japanese electronics maker reported an operating profit of about $924 million in the third quarter, up 2.9% from a year ago, and beating the average analyst estimate of $620 million by nearly 33%, Reuters noted. Panasonic posted $2.2 billion in total operating profits from the nine months leading up to December. The company also kept its estimate for the whole year at $2.8 billion, about 1.6% higher than analyst estimate.

  • Tesla up 20% after Panasonic posts first quarterly profit at battery business
    Reuters

    Tesla up 20% after Panasonic posts first quarterly profit at battery business

    TOKYO/SAN FRANCISCO (Reuters) - Tesla Inc's stock surged 20% on Monday in its largest one-day gain since 2013, fueled by a quarterly profit at Panasonic's battery business with the U.S. car maker and an investor report predicting its shares would rise more than ten-fold by 2024. Shares of Tesla have rallied by over 30% since the car maker run by Chief Executive Elon Musk posted its second consecutive quarterly profit last Wednesday, which was viewed as a milestone for the company competing against established heavyweights including General Motors Co and BMW. The stock is up over 300% since early June, helped by Tesla's better-than-expected financial results and ramped up production at its new car factory in Shanghai.

  • Toyota-Panasonic venture to start EV battery development in April
    Reuters

    Toyota-Panasonic venture to start EV battery development in April

    Toyota Motor Corp and Panasonic Corp have agreed to set up a joint venture that will begin developing electric vehicle (EV) batteries from April, as the Japanese companies gear up for an expected surge in demand. The new company, called Prime Planet Energy and Solutions, will develop prismatic - or square-shaped - batteries that will be available to any automaker, the two companies said in a statement on Monday. It will begin operations on April 1 with more than 5,000 employees, with Toyota owning 51% and Panasonic holding the remainder, the pair said.

  • Benzinga

    CATL Confirms Battery Supply Agreement With Tesla In China

    Chinese battery maker Contemporary Amperex Technology Co Ltd. has confirmed its partnership with electric vehicles maker Tesla Inc. (NASDAQ: TSLA ) in China. What Happened Ningde-based CATL has signed ...

  • Panasonic's connected miniature fire truck has niches to fill
    Autoblog

    Panasonic's connected miniature fire truck has niches to fill

    Panasonic began collaborating with Tropos Motors in 2019 to create small electric vehicles with connected technology. A modular design allows for a variety of commercial uses, and for CES 2020, the partnership fruited new applications such as a miniature fire truck and a last-mile cooled delivery vehicle. Tropos Motors is a Silicon Valley-based tech company that builds all-electric street-legal, low-speed vehicles.

  • Benzinga

    Tesla To Start Delivering Its First China-Made Models On Monday

    California-based automaker Tesla Inc. (NASDAQ: TSLA ) will deliver the first units of its China-made Model 3 electric vehicle to 15 customers on Monday, a company representative told Reuters. What Happened ...

  • Audio Video Production Industry to Lose Steam on Price Wars
    Zacks

    Audio Video Production Industry to Lose Steam on Price Wars

    Audio Video Production Industry to Lose Steam on Price Wars

  • Barrons.com

    A 60% Tumble for Sage Therapeutics, and Two More Numbers to Know

    Another biotech company, (ACAD) (ACAD), also saw its stock jump 14%. There is sure to be more big biotech news coming up. It makes sense for GM to pair up with LG Chem (051910.Korea), rather than go it alone.

  • Israel's TowerJazz to maintain 51% stake in Panasonic chip JV
    Reuters

    Israel's TowerJazz to maintain 51% stake in Panasonic chip JV

    Israeli chip manufacturer TowerJazz said on Monday it will not sell its 51% stake and board control in its joint venture (JV) with Panasonic Corp in Japan. This follows an announcement last week that Panasonic will sell its semiconductor business to Taiwan's Nuvoton Technology Corp for $250 million. "Pursuant to its long-term strategy and growth plans, TowerJazz will continue its operations and manufacturing activity at TPSCo Japanese manufacturing facilities," TowerJazz said in a statement.

  • Zacks Small Cap Research

    TSEM: Panasonic is Selling its Share of TPSCo to Nuvoton as of June 1, 2020

    By Lisa Thompson NASDAQ:TSEM READ THE FULL TSEM RESEARCH REPORT As the result of the corporate-wide strategy of Panasonic Corp. to purge its unprofitable businesses, Panasonic is selling all its semiconductor operations to Nuvoton Technology Corporation for $250 million in cash. This sale includes Panasonic’s interest in TPSCo, the joint venture with TowerJazz (NASDAQ:TSEM). The sale set to