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Stock Market & Financial Investment News

News Breaks
December 24, 2012
12:24 EDTAA, ACH, CENX, KALUKobe Steel halts plans for Mongolian aluminum factory, Nikkei says
Amid concerns of a slowing Chinese economy, and rising Sino-Japan tensions, Kobe Steel has decided against building an aluminum factory in the Inner Mongolia Autonomous Region. Reference Link
News For AA;ACH;CENX;KALU From The Last 14 Days
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October 29, 2014
16:04 EDTCENXCentury Aluminum reports Q3 EPS 52c, consensus 52c
Reports Q3 revenue $500.6M, consensus $488.64M.
October 28, 2014
09:20 EDTAAAlcoa to host investor day
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October 27, 2014
10:00 EDTAAOn The Fly: Analyst Upgrade Summary
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05:44 EDTAAAlcoa upgraded to Buy from Hold at Deutsche Bank
Deutsche Bank upgraded Alcoa to Buy citing the turnaround in the company's upstream Primary smelting business following the company's Q3 results. Deutsche raised its price target for shares to $20 from $16. The stock closed Friday up 31c to $16.55.
October 23, 2014
16:16 EDTAA, CENXAlcoa to sell ownership stake in Mt. Holly Smelter to Century Aluminum
Alcoa (AA) announced that it has reached an agreement to sell its ownership stake in the Mt. Holly aluminum smelter in Goose Creek, South Carolina, to Century Aluminum Company (CENX) for $67.5M in cash, plus an additional potential earn-out. Mt. Holly is owned 50.3% by Alcoa and 49.7% by Century. The sale is subject to customary regulatory approvals, and is expected to close by the end of Q4. Based on current estimates, the transaction will not result in a significant gain or loss to Alcoa.
16:09 EDTAA, CENXCentury Aluminum to acquire full ownership of Mt. Holly Smelter for $67.5M
Century Aluminum Company (CENX) announced that its wholly owned subsidiary has entered into a definitive agreement to acquire Alcoa's (AA) 50.3% stake in the Mt. Holly aluminum smelter. Mt. Holly, located in Berkeley County, South Carolina, employs approximately 600 people and has an annual production capacity of 229,000 metric tons of primary aluminum. Following the closing of the transaction, Century will own 100% of Mt. Holly. Pursuant to the terms of the agreement, Century will acquire Alumax of South Carolina, a subsidiary of Alcoa and owner of Alcoa's 50.3% interest in Mt. Holly, for $67.5M in cash less certain amounts owed by Alumax to Mt. Holly and subject to working capital and other similar adjustments. The transaction is expected to close in Q4 and is subject to customary closing conditions.
October 20, 2014
16:56 EDTKALUKaiser Aluminum to resume trading at 5:00 pm ET
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16:33 EDTKALUKaiser Aluminum reports Q3 adjusted EPS 79c, consensus $1.02
Reports Q3 revenue $339M, consensus $341.34M. Jack A. Hockema, president, CEO and chairman said, "Q3 reflected two unanticipated challenges at our Spokane, Washington facility that caused our results to fall short of our expectation for shipments and adjusted EBITDA. In an effort to further enhance quality attributes and customer performance of our KaiserSelect plate products, we made process refinements that temporarily resulted in higher internal scrap, remakes, and lost opportunity for additional spot business during the quarter. In addition, we experienced unplanned downtime in our aerospace sheet processing operations that, although not as significant, further impacted shipments during the quarter. These two issues had a direct impact on adjusted EBITDA of approximately $5M in Q3."
09:33 EDTACHAluminum Corp. of China initiated with an Underperform at Credit Suisse
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October 17, 2014
09:01 EDTKALUKaiser Aluminum management to meet with Sterne Agee
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