New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
July 9, 2014
12:27 EDTAA, ACH, NOR, KALUAlcoa hits 52-week high after better than expected results
Shares of aluminum producer Alcoa (AA) are moving higher after the company reported better than expected second quarter results. WHAT'S NEW: Last night, Alcoa reported Q2 adjusted earnings per share of 18c and revenue of $5.8B, compared to analysts' consensus estimates of 12c and $5.66B, respectively. The company reiterated its 2014 outlook for aluminum demand growth of 7%, and global aerospace growth of 8%-9%. WHAT'S NOTABLE: On its earnings conference call, Alcoa said it expects Q3 EPS to "continue to build on the strong second quarter." After tax operating income, or ATOI, is expected to grow by 5%-10% over last year's third quarter due to continued share gains, stronger market conditions and productivity. Productivity gains are expected to offset cost increases in Q3. The company raised its 2014 estimate for the North America commercial transportation market to a range of 10%-14%, from a previous range of 5%-9% in the first quarter. The higher estimate is based in part on rising truck orders and backlogs. ANALYST REACTION: This morning, research firm Stifel raised its price target on Alcoa to $17 from $15 per share after the company reported higher than expected EPS. The firm expects the company's 2015 results to be boosted by higher prices. It kept a Buy rating on the shares. Another firm, JP Morgan, also raised its price target on Alcoa to $18.50 from $15.00, citing improving results in primary metals following the company's Q2 results. The firm kept an Overweight rating on the stock. PRICE ACTION: In early afternoon trading, Alcoa rose 74c, or about 5%, to $15.59, a fresh 52-week high. Including today's advance, the stock is up approximately 97% over the past 12 months. OTHERS TO WATCH: Other companies in the aluminum space include Aluminum Corp. of China (ACH), Noranda Aluminum (NOR), and Kaiser Aluminum (KALU).
News For AA;ACH;NOR;KALU From The Last 14 Days
Check below for free stories on AA;ACH;NOR;KALU the last two weeks.
Sign up for a free trial to see the rest of the stories you've been missing.
1 | 2 | all recent news | >>
July 9, 2014
16:40 EDTAAOn The Fly: Closing Wrap
Subscribe for More Information
13:40 EDTAAAlcoa breaks out of top of longer-term uptrend channel, levels to watch
Subscribe for More Information
13:33 EDTAAAlcoa price target raised to $18 from $15 at Argus
Argus increased its price target on Alcoa after the company reported stronger than expected Q2 results. The firm expects aluminum prices to rise modestly this year and it keeps a Buy rating on the stock.
12:30 EDTAAOn The Fly: Midday Wrap
Stocks on Wall Street were moderately higher at midday, helped in part by better than expected earnings from Alcoa (AA), solid monthly numbers from the airlines sector, and a bounce from the two day losing streak that had seen the S&P lose 1% and the Nasdaq pullback by more than 2%. The market has been unable to gather any upside momentum and has moved in a narrow range throughout the morning, as investors await the release of the Fedís FOMC minutes. ECONOMIC EVENTS: The minutes from the Federal Open Market Committee meeting held June 17-18 are scheduled to be released at 2:00 pm ET. In China, the producer-price index declined 1.1% from a year earlier, compared with a consensus forecast for a 1% drop. China's consumer-price index rose 2.3%, below projections for a 2.4% gain. COMPANY NEWS: Alcoa swung to a second-quarter profit of 18c a share on an adjusted basis, beating the consensus estimate of 7c a share, as its revenue also topped expectations. The aluminum producer, whose report is widely considered to mark the start of an earnings season, said its transformation is in "high gear" and that its cost position continues to improve. The stock rose 5% near midday following its report. MAJOR MOVERS: Among the notable gainers was AeroVironment (AVAV), which develops a portfolio of products and services for unmanned aircraft and efficient energy systems. The stock rallied 14% after the company reported better than expected fourth quarter results. Also higher was Reynolds American (RAI), which rose more than 2.5% after the U.K.'s Daily Mail reported that British American Tobacco (BTI), which currently holds a 42% stake in Reynolds, is speculated to be "on the verge" of buying out the remainder of its U.S. peer that it does not already own. Among the noteworthy losers was IT infrastructure technology provider Gigamon (GIMO), which was downgraded by at least five firms and plunged 32% after the company lowered its Q2 revenue guidance, citing challenges closing deals. Also lower following its earnings reports was specialty storage and organizational product retailer The Container Store (TCS), which fell 10%. INDEXES: Near midday, the Dow was up 36.86, or 0.22%, to 16,943.48, the Nasdaq was up 18.93, or 0.43%, to 4,410.39, and the S&P 500 was up 4.59, or 0.23%, to 1,968.30.
12:27 EDTACH, KALU, NOR, AAAlcoa hits 52-week high after better than expected results
Subscribe for More Information
09:35 EDTAAActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL AA FB AMZN TSLA TWTR MU NFLX GG CELG
08:26 EDTAAAlcoa shares should be bought, says Sterne Agee
After Alcoa reported stronger than expected Q2 results, Sterne Agee expects the company to be boosted by strength in its aerospace business going forward. The firm believes that the company's fundamentals are improving.
07:37 EDTAAAlcoa price target raised to $18.50 from $15 at JPMorgan
Subscribe for More Information
07:26 EDTAAInvestors hope solid earnings can reverse losing streak
Subscribe for More Information
07:02 EDTAAAlcoa price target raised to $17 from $15 at Stifel
Subscribe for More Information
July 8, 2014
18:28 EDTAAOn The Fly: After Hours Movers
Subscribe for More Information
17:55 EDTAAAlcoa expects Q3 EPS to 'continue to build on strong second quarter'
Subscribe for More Information
16:14 EDTAAAlcoa raises 2014 estimate for North America commercial transportation market
Subscribe for More Information
16:12 EDTAAAlcoa CEO says cost position continues to improve
Says company's transformation in "high gear." Says aerospace business is a tailwind due to strong demand for commercial aircraft. Says well-positioned to capture upside from recent investments. Klaus Kleinfeld is speaking on CNBC.
16:04 EDTAAAlcoa continues to see 2014 global aerospace growth of 8%-9%
Subscribe for More Information
16:03 EDTAAAlcoa continues to see 2014 global aluminum demand growth of 7%
Sees global aluminum deficit increasing; global alumina surplus shrinking.
16:03 EDTAAAlcoa reports Q2 adjusted EPS 18c, consensus 12c
Subscribe for More Information
16:00 EDTAAOptions Update; July 8, 2014
Subscribe for More Information
15:23 EDTAANotable companies reporting after market close
Subscribe for More Information
14:26 EDTAAAlcoa July weekly 15 straddle priced for 4.5% move into Q2
1 | 2 | all recent news | >>

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use