GM Cuts Prices Of Chevrolet Bolt Electric Vehicles

General Motors has cut the prices of its 2023 Chevrolet Bolt electric vehicles or EV, despite rising commodity costs, reports said. GM’s vehicle is likely the cheapest electric vehicle available in the U.S. at present.

The company is slashing prices on the Bolt by $5,900 and of the larger Bolt EUV by $6,300. The lowest-price version will start at $26,595, down from earlier announced $32,495. Further, the Bolt EUV will start at $28,195, compared to previous price of $35,695.

GM reportedly said, “This change reflects our ongoing desire to make sure Bolt EV/EUV are competitive in the marketplace.”

The company said it plans to build more Bolt EVs and EUVs this year than in any other year since it launched in 2016.

GM last year had recalled Chevrolet Bolt electric vehicles built since it began production due to a faulty battery that could catch fire. GM resumed Bolt production in April and began resuming sales earlier this year after a six months halt. The company also launched an advertising campaign recently to win back Bolt consumers.

GM’s price cut move comes as other EV makers raised prices on their electric vehicles amid rising commodity costs, mainly for EV battery materials.

Pre-market Movers: BCAN, IMMX, AI, IBRX, RPTX…

The following are some of the stocks making big moves in Thursday’s pre-market trading (as of 06.40 A.M. ET).

In the Green

BYND Cannasoft Enterprises Inc. (BCAN) is up over 26% at $6.64
Immix Biopharma, Inc. (IMMX) is up over 26% at $2.34
Repare Therapeutics Inc. (RPTX) is up over 18% at $10.36
Chewy, Inc. (CHWY) is up over 16% at $27.40
Xeris Biopharma Holdings, Inc. (XERS) is up over 14% at $2.48
Super Group (SGHC) Limited (SGHC) is up over 12% at $7.45
UiPath Inc. (PATH) is up over 10% at $18.67
Blue Apron Holdings, Inc. (APRN) is up over 10% at $3.38
Nextdoor Holdings, Inc. (KIND) is up over 9% at $3.06
MongoDB, Inc. (MDB) is up over 7% at $261.11
The Bank of Nova Scotia (BNS) is up over 6% at $71.90
Li-Cycle Holdings Corp. (LICY) is up over 6% at $8.19

In the Red

C3.ai, Inc. (AI) is down over 23% at $14.20
ImmunityBio, Inc. (IBRX) is down over 20% at $2.62
Universal Display Corporation (OLED) is down over 12% at $110.01
Callon Petroleum Company (CPE) is down over 6% at $58.68
Hewlett Packard Enterprise Company (HPE) is down over 6% at $14.80
U.S. Energy Corp. (USEG) is down over 5% at $4.11
Dynagas LNG Partners LP (DLNG) is down over 5% at $4.01

4 Killed In Shooting At Tulsa Hospital Complex

Four people were killed and several others wounded when a gunman opened fire at a hospital in Tulsa, Oklahoma, Wednesday.

The unidentified shooter died of self-inflicted gunshot wounds, police say.

The shooting spree occurred on the second floor of the Natalie Medical Building on the campus of St. Francis Hospital, Tulsa Police Deputy Chief Eric Dalgleish said at a news conference.

He told reporters that police arrived at the scene within three minutes of receiving a call about an active shooter at 16:52 PM ET.

The assailant was armed with a rifle and a handgun. The motive behind the attack is not known.

The latest incident of gun violence in the U.S. comes just a week after an 18-year-old gunman killed 19 students and two teachers in a shooting spree at an elementary School in Uvalde, Texas.

The teenage shooter, who was carrying a handgun and an AR-15 rifle, was killed by law enforcement at the scene.

President Joe Biden said then it’s high time the country have the courage to deal with the crime and stand up to the gun lobbies.

Biden has been briefed about the Tulsa shooting, the White House said.

Biden had signed a set of executive orders last year aimed at curbing gun violence in the wake of a series of mass shootings that shocked the country.

In spite of tough federal measures, U.S. cities are going through a historic spike in homicides and violence, mainly targeting Black and brown Americans.

Takeda: TAK-003 Shows 84.1% Vaccine Efficacy Against Hospitalized Dengue In Long-term TIDES Trial

Takeda (TAK) said its dengue vaccine candidate, TAK-003, prevented 84% of hospitalized dengue cases and 61% of symptomatic dengue cases, with no important safety risks identified, in the overall population including both seropositive and seronegative individuals through four and a half years after vaccination in the phase 3 Tetravalent Immunization against Dengue Efficacy Study trial. The company said these long-term results supplement previously published TIDES data that showed the candidate vaccine met its primary endpoint of overall vaccine efficacy against virologically-confirmed dengue.

The company noted that, while the long-term follow-up for the primary two-dose series has been completed, the TIDES trial remains ongoing to evaluate the safety and efficacy of a booster dose.

TAK-003 is undergoing regulatory review for the prevention of dengue disease in children and adults in the European Union and select dengue-endemic countries.

Gold Dips, Dollar Firm Ahead Of ECB Meet

Gold prices edged lower on Thursday, U.S. bond yields edged up and the dollar traded firm as investors fret over the impact of worsening inflation on interest rates, economic growth and corporate earnings.

Spot gold slid 0.2 percent to $1,850.06 per ounce, while U.S. gold futures were down 0.2 percent at $1,852.40.

Investors await the European Central Bank’s monetary policy announcement due later today, as well as the crucial data on U.S. inflation due on Friday for clues on the pace of rate rises.

The European Central Bank will announce its interest rate decision at 7:45 am ET. The ECB is expected to hold its main refi rate at a record low zero percent and the deposit rate at -0.50 percent.

The central bank is all set to announce an imminent end to its asset purchase program and signal its first-rate hike in over a decade to combat rising inflation.

In economic releases, U.S. weekly jobless claims for the week ended June 4 are due out in the New York session.