Hyundai to purchase GM’s India plant as American OEM prepares market exit

Stellantis (STLA) invests in direct lithium extraction project

August 17, 2023 9:08 AM EDT

Stellantis (NYSE: STLA) said Thursday that the carmaker will be investing more than $100 million in California-based direct lithium extraction (DLE) company, Controlled Thermal Resources.

Different DLE technologies come with their own unique approaches, but all share the common goal of extracting lithium from saline brine deposits through mechanical filtration. This innovative process eliminates the necessity for open pit... More

GM invests $60M in EV battery startup, Mitra Chem

August 16, 2023 10:13 AM EDT

General Motors (NYSE: GM) announced Wednesday that the American automaker will be investing in Silicon Valley startup, Mitra Chem with an aim to help the new company speed the development of a more affordable battery chemistry for use in electric vehicles.

GM is set to spearhead a $60 million investment in Mitra Chem. The startup... More

GM backs EV battery startup as it shifts future focus to cheaper materials

August 16, 2023 8:16 AM EDT

By Akash Sriram and Paul Lienert

DETROIT (Reuters) - General Motors is investing in a Silicon Valley startup to help it speed development of a more affordable battery chemistry for its future electric vehicles, the company said on Wednesday.

GM will lead a $60 million investment in Mitra Chem, a two-year-old Mountain View, California, company that uses artificial intelligence to accelerate development of lithium-ion battery materials.

Mitra Chem will help the automaker develop advanced iron-based cathode active materials such as lithium manganese iron phosphate (LMFP) that could be used in some of GM's next-generation Ultium batteries after 2025.

... More

Target to report, VinFast's market debut - what's moving markets

August 16, 2023 6:09 AM EDT

Investing.com -- U.S. stock futures inch into the green, hinting at a recovery from declines in the preceding session, as investors looked ahead to results from big-box retailer Target . Elsewhere, private equity TPG reportedly approaches EY over purchasing a stake in the financial services group's consulting arm, while VinFast's backdoor listing sees the value of the Vietnamese electric vehicle start-up climb above U.S. car giants Ford and General Motors.

1. Futures rise after declines on Wall Street

U.S. stock... More

Target to report, VinFast's market debut - what's moving markets

August 16, 2023 6:09 AM EDT

Investing.com -- U.S. stock futures inch into the green, hinting at a recovery from declines in the preceding session, as investors looked ahead to results from big-box retailer Target . Elsewhere, private equity TPG reportedly approaches EY over purchasing a stake in the financial services group's consulting arm, while VinFast's backdoor listing sees the value of the Vietnamese electric vehicle start-up climb above U.S. car giants Ford and General Motors.

1. Futures rise after declines on Wall... More

UAW to hold a vote authorizing a strike as talks continue at slow pace

August 15, 2023 2:01 PM EDT

Union President Shawn Fain released a statement Tuesday indicating that negotiations with Detroit automakers continues to move at a snails pace and have yet to even address the issues surrounding wages and other economic issues.

The United Auto Workers union (UAW) boasts a membership of approximately 146,000 members who will vote next week on authorizing their leaders to call strikes against the Big Three. The unions contracts with General Motors (NYSE: GM), Ford (NYSE: F) and... More

Home Depot, Tesla, Tencent Music fall premarket; Nvidia, DR Horton rise

August 15, 2023 8:35 AM EDT

Investing.com -- U.S. futures fell Tuesday, ahead of the release of key retail sales data, while weak Chinese economic data raised concerns about slowing global growth.

Here are some of the biggest premarket U.S. stock movers today:

Home Depot... More

General Motors (GM) option IV amid union contract talks

August 15, 2023 5:05 AM EDT

General Motors (NYSE: GM) 30-day option implied volatility is at 32; compared to its 52-week range of 27 to 60 into their current union contracts end on September 14.

... More

Warren Buffett's Berkshire Hathaway buys 3 homebuilders in Q2

August 14, 2023 4:20 PM EDT

Warren Buffett's Berkshire Hathaway made a few interesting move in the second quarter, according to the firm's 13F with the SEC after the close of trading Monday. The most interesting trade was adding new positions in three homebuilders.

Berkshire showed new stakes in homebuilders D. R. Horton (NYSE:... More

Berkshire Hathaway Adds Homebuilders D. R. Horton (DHI), Lennar Corp (LEN), NVR (NVR)

August 14, 2023 4:09 PM EDT

Warren Buffett's Berkshire Hathaway released its 13F for the quarter ended June 30, 2023. Below is a summary:

New Stakes
D. R. Horton (NYSE: DHI) new 5,969,714 share position
Lennar Corp. (NYSE: LEN) new 152,572 share position
NVR, Inc. (NYSE: NVR) new 11,112 share position

Raised Stakes
Capital One Financial (NYSE: COF) raised from 9,922,000 shares to 12,471,030 shares
Occidental Petroleum (NYSE: OXY) raised from 211,707,119 shares to 224,129,192 shares

Lowered Stakes... More

General Motors (GM) option IV flat into current union contracts end on September 14

August 14, 2023 2:22 PM EDT

General Motors (NYSE: GM) 30-day option implied volatility is at 33; compared to its 52-week range of 27 to 60 into their current union contracts end on September 14.

... More

Biden calls on automakers and union to come together on 'a fair agreement'

August 14, 2023 1:52 PM EDT

With just a month remaining until the expiration of contracts, Detroits Big Three and the United Auto Workers (UAW) union are still at odds, struggling to reach a mutual understanding. On Monday, U.S. President Joe Biden urged both the automotive union and the corporations they are associated with to come together on an agreement soon.

"Im asking all sides to work together to forge a fair agreement," Biden... More