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Stock Market & Financial Investment News

News Breaks
July 9, 2014
12:27 EDTNOR, ACH, KALU, AAAlcoa 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
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August 31, 2015
09:47 EDTACHAluminum Corp. of China upgraded to Neutral from Underperform at Credit Suisse
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09:07 EDTNORNoranda Aluminum announces initial intercontinental alumina shipment
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06:10 EDTAAAlcoa implied volatility of 56 at upper end of index
August 28, 2015
10:20 EDTAAAlcoa rallies with Freeport-McMoRan, materials sector
Shares are up over 5% to $9.33 at time of writing, putting it above downtrend resistance at the 10-day moving average. At that price next resistance is at $9.51. Support is at $9.19.
August 26, 2015
10:24 EDTAACentury Aluminum to curtail Hawesville operations due to weak prices
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August 25, 2015
16:32 EDTNORNoranda Aluminum completes 1-for-7 reverse stock split
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August 21, 2015
15:25 EDTNORNoranda Aluminum to host special shareholder meeting
Special Shareholder Meeting to approve an amendment to the company's restated Certificate of Incorporation will be held in Franklin, TN on August 24 at 3pm.
August 18, 2015
09:29 EDTAAMorgan Stanley lowers Metals & Mining sector price targets by 33%
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