auto

The automotive industry has been surprisingly resilient despite facing over a year's worth of roadblocks, most recently the global semiconductor shortage, which has impaired supply chains, BofA Securities analyst John Murphy said in a Friday note.  The bank has favorable second-quarter...

Morgan Stanley analyst Adam Jonas released a note on Wednesday detailing how electric vehicles could drive Ferrari N.V. (NYSE: RACE) shares to $350. The Ferrari Analyst: Morgan Stanley maintained an Overweight rating on Ferrari with a $265 price target. The Ferrari Takeaways: Valuing all parts...

Stellantis NV (NYSE: STLA) on Thursday announced an aggressive plan to gain ground in the global electric vehicle market, saying it will spend 30 billion euros ($35.5 billion) by 2025 to add EVs with between 300 miles and 500 miles of range.  A new Ram electric pickup is a highlight of the...

Benzinga's PreMarket Prep airs every morning from 8-9 a.m. ET. During that fast-paced, highly informative hour, traders and investors tune in to get the major news of the day, the catalysts behind those moves and the corresponding price action for the upcoming session. On any given...

Advance Auto Parts (NYSE: AAP) posted a first-quarter beat-and-raise Wednesday. The auto parts retailer reported first-quarter adjusted earnings of $3.34 per share against a $3.08 Street estimate and sales of $3.33 billion, outrunning a $3.28-billion estimate.  The company raised its 2021...

General Motors Company (NYSE: GM) stock is trading at its highest level in about a month after the company issued an update on its anticipated performance for the first half of the year. GM Says It Will Exceed Guidance: General Motors said Thursday it expects its results for the first half of...

Amazon.com, Inc (NASDAQ: AMZN) -backed Rivian Automotive Inc has selected underwriters for an initial public offering, Bloomberg reports.  What Happened:  The California-based automaker Rivian Automotive Inc, which is also backed by Ford Motor Company (NYSE: F),...

Benzinga's PreMarket Prep airs every morning from 8-9 a.m. ET. During that fast-paced, highly informative hour, traders and investors tune in to get the major news of the day, the catalysts behind those moves and the corresponding price action for the upcoming session. On any given...

As the economy gradually moves towards normalization and there is a ramp-up for vaccinations, auto parts retailers like Advance Auto Parts, Inc. (NYSE: AAP) are poised to benefit, despite strong comps in 2020, according to Goldman Sachs. The Advance Auto Parts Analyst: Kate McShane upgraded...

Tesla, Inc.'s (NASDAQ: TSLA) list of rivals is getting bigger and stronger with the passing of each day. German luxury carmaker Bayerische Motoren Werke ADR (Pink: BMWYY) is the most recent automaker to reaffirm its commitment to transition away from internal combustion vehicles. BMW Three-...

Palantir Technologies Inc. (NASDAQ: PLTR) shares were advancing Thursday after the data analytics software company announced a strategic partnership. What Happened: Palantir said it has entered into a six-year strategic partnership with French automotive supplier Faurecia to help the latter...

Carvana Co (NYSE: CVNA) seems “uniquely positioned” to cater to a total addressable market far beyond the used car market, according to Morgan Stanley. The Carvana Analyst: Adam Jonas upgraded Carvana from Equal Weight to Overweight and raised the price target from $225 to $420. The...

Benzinga's PreMarket Prep airs every morning from 8-9 a.m. ET. During that fast-paced, highly informative hour, traders and investors tune in to get the major news of the day, the catalysts behind those moves and the corresponding price action for the upcoming session. On any given...

Ford Motor Company (NYSE: F) shares were trading higher in Thursday's after-hours session after the automaker reported fourth-quarter eanrings of 34 cents per share, beating the Street estimate of a 7-cent-per-share loss.  This is an 183.33% increase over earnings of 12 cents per...

Ford Motor Company (NYSE: F) is following a trend of major automakers partnering with big tech companies.  The Dearborn, Michigan-based automaker announced Monday that it has chosen Alphabet Inc.'s (NASDAQ: GOOG) (NASDAQ: GOOGL) Google as its preferred cloud provider...