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Highlights of the day: 4 October

July 17, 2023
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FinMeUp
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FinMeUp

FinMeUp highlights of the day

 

South Africa

Merafe Resources Limited

  • The European benchmark ferrochrome price for the fourth quarter of 2022 has been settled at 149 US cents per pound, which is a 17.2% decrease from the third quarter of 2022.

Anglo American plc

  • Anglo American and EDF Renewables have partnered and will form a new jointly owned company, Envusa Energy, in South Africa.
  • The partnership will form 600MW of wind and solar projects in first phase.
  • The partnership is designed to meet Anglo Americans operational power requirements in South Africa.

Capitec Bank Holdings Limited

  • Capitec has been granted a license to conduct life insurance business in South Africa.
  • Capitec has been offering credit life and funeral policies through two cell captive agreements, but due to regulation changes and strong growth in insured clients, Capitec applied for the license.

 

The U.S.

Rivian Motors

  • Rivian said it still sees FY production at 25,000 vehicles. 
  • Rivian said it has produced 7,363 and delivered 6,584 vehicles in Q3.

Ark Invest

  • Cathie Wood and Ark Invest bought 132.2K shares of Tesla today.

Shopify

  • Shopify CEO Tobias Lutke has bought about $3M worth of Coinbase stock over the last 2 months.

Electronic Arts

  • Electronic Artss next Need for Speed game is still on track to be released this year.

Ford

  • Ford just announced it sold 142,644 vehicles in the US during September down 8.9% YoY.
  • Ford sold a total of 4,691 EVs in the US during September up 197.3% YoY.

Micron

  • Micron has announced plans to spend up to $100 Billion to build a semiconductor factory in New York.

FedEx

  • FedEx has just announced it has agreed to repurchase $1.5 Billion of its common stock from Morgan Stanley in an accelerated share repurchase agreement.

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