Tesla Dwarfs Nissan-Honda Talks

And, Inotiv's proposed public offering.

December 18, 2024

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Today is Wednesday, December 18, 2024.

The Early Bird Index today is 84.18

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Tesla Dwarfs Nissan-Honda Talks

Nissan Motor (OTCMKTS: NSANY) jumped 11.46% on Tuesday due to rumors of a potential merger with Honda Motor (NYSE: HMC).

Details: Nikkei Asia reported on Tuesday that Nissan and Honda are discussing a potential merger and are expected to sign a memorandum of understanding for the new entity.

  • The report also said they may want to add Mitsubishi Motors (TYO: 7211) to the new entity.

Powering the Story: The Japanese automakers are reportedly considering a merger to better compete against Tesla (Nasdaq: TSLA) and other electric vehicle makers.

Stock Price: Nissan is down 34% this year and Honda is down 17%. Meanwhile, Tesla is up 93% and is the king of major car stocks right now.

Early Bird’s Nest Egg Gains: Tesla's capital expenditure significantly outpaces that of Nissan and Honda.

  • Both Japanese automakers have fallen behind in electric vehicle technology.

  • Japanese automakers, including Nissan and Honda, are losing ground in the crucial Chinese market.

Final Thoughts: If this merger happens, it could shake up the global auto market.

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Notables

Notable Earnings Today: Micron Technology (Nasdaq: MU), General Mills (NYSE: GIS), Lennar (NYSE: LEN), ABM Industries (NYSE: ABM), Birkenstock Holding (NYSE: BIRK), MillerKnoll (Nasdaq: MLKN), Toro (NYSE: TTC), Worthington Steel (NYSE: WS), Jabil (NYSE: JBL), Steelcase (NYSE: SCS), Enerpac Tool Group (NYSE: EPAC), OrganiGram Holdings (Nasdaq: OGI).

Notable IPOs Today: YSX Tech. Co., Ltd Class A Ordinary Shares (Nasdaq: YSXT), New Century Logistics (BVI) Limited Ordinary Shares (Nasdaq: NCEW), Youxin Technology Ltd Class A Ordinary shares (Nasdaq: YAAS), Exodus Movement, Inc. (NYSE American: EXOD).

Notable Equity Crowdfunding Campaigns Ending Today: Gryphon Online Safety (Wefunder), Beauty By Whitney Delores (Honeycomb), Hillary’s Chicago Pizza (Honeycomb), AtomBeam (StartEngine), AptDeco (Wefunder).

Notable Economic Events Today: Building Permits (8:30 a.m. ET), Housing Starts (8:30 a.m. ET), United States Current Account (8:30 a.m. ET), Crude Oil Inventories (8:30 a.m. ET), Fed Interest Rate Decision / FOMC Statement (2:00 p.m. ET), FOMC Press Conference (2:30 p.m. ET).

Inotiv's Proposed Public Offering

The drug discovery company Inotiv (Nasdaq: NOTV) declined by 12.43% in after-hours trading on Tuesday after releasing a proposed public offering of common shares.

Details: The company did not state how many new shares were being made available.

Big Picture: Investors didn’t like this announcement because additional shares could dilute the stock.

Final Thoughts: Inotiv was up 42% this year.

Toncoin Slips Due to Negative Sentiment

Negative sentiment in cryptocurrency on Tuesday along with increased volatility sent the price of Toncoin down about 5%.

Final Thoughts: Despite Tuesday’s drop, Toncoin is up about 160% in 2024.

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The contents of Early Bird are intended for informational and entertainment purposes only. They do not constitute trade or investment recommendations and they are not financial or legal advice. Readers are encouraged to consult licensed professionals for personalized guidance regarding their financial or legal situations.