Tesla Motors Inc. (NASDAQ:TSLA)’s Elon Musk said the need for lower-cost batteries for autos and power storage means there will need to be hundreds of “gigafactories” like the one the carmaker is planning to build. The electric-car company based in Palo Alto, California, anticipates the battery factory will reduce the cost of lithium- ion cells by more than its initial guidance of 30%, Musk said. He spoke yesterday at the World Energy Innovation Forum, an annual conference hosted by Tesla board member Ira Ehrenpreis. Tesla Motors Inc (NASDAQ:TSLA) net profit margin is -6.50% and weekly performance is 5.60%. On last trading day company shares ended up $188.59. Analysts mean target price for the company is $224.83. Tesla Motors Inc (NASDAQ:TSLA) distance from 50-day simple moving average (SMA50) is -12.16%.
Panasonic Corporation (ADR) (OTCMKTS:PCRFY) Announces Winners Of The 25th Annual Kid Witness News Video Competition. Panasonic names Lincoln Park Academy grand prize winner of 2014 Kid Witness News Video Competition–celebrating 25 years of inspiration and enthusiasm of young filmmakers. Panasonic Corporation (ADR) (OTCMKTS:PCRFY) shares fell -0.66% in last trading session and ended the day on $10.58 .
Citigroup Inc (NYSE:C) has recently cut down another 200 jobs in a bid to trim its large workforce. The company is willing to pay up $110 million to a number of house owners who had been forced to pay huge sums of money for paying up insurance premium towards property. This premium is exacted in return for a service provided by Citi Bank to safeguard the interest of the property owner in his property in the event of the homeowner’s insurance lapsing. Citigroup Inc (NYSE:C) shares moved down -1.27% in last trading session and was closed at $46.52, while trading in range of $46.15 – $46.94. Citigroup Inc (NYSE:C) year to date (YTD) performance is -10.69%.
U.S. Bancorp (NYSE:USB) Investments has hired Alina Brindusescu, Gus Marzavas, Keith Hendricks and Robert Norman as financial advisors. Brindusescu has joined U.S. Bancorp in Beverly Hills, Calif. She joins the firm from HSBS, where she was a financial advisor. Marzavas has joined the firm in Rock River, Ohio. He previously served as a financial advisor for PNC Investments. Hendricks has joined U.S. Bancorp’s Manitowoc, Wis. area office. He previously served as a merchandise buyer for Bed Bath & Beyond.U.S. Bancorp (NYSE:USB) ended the last trading day at $40.57. Company weekly volatility is calculated as 1.05% and price to cash ratio as 9.94. U.S. Bancorp (NYSE:USB) showed a positive weekly performance of 0.60%.
Mitsubishi UFJ Financial Group, Inc. (ADR) (NYSE:MTU) announced that Katsumi Hatao will serve as the new CEO for Americas overseeing The Bank of Tokyo-Mitsubishi UFJ (BTMU) as well as the Union Bank, N.A. Katsumi Hatao will start serving as the CEO for the said designation with effect from July 1, 2014. Both The Bank of Tokyo-Mitsubishi UFJ (BTMU) and Union Bank, N.A. corresponds with overall U.S. banking operations under Mitsubishi UFJ Financial Group, Inc. umbrella as MUFG Union Bank, N.A.Mitsubishi UFJ Financial Group Inc (ADR) (NYSE:MTU) net profit margin is 45.60% and weekly performance is 3.50%. On last trading day company shares ended up $5.62. Analysts mean target price for the company is $6.95. Mitsubishi UFJ Financial Group Inc (ADR) (NYSE:MTU) distance from 50-day simple moving average (SMA50) is 2.38%.