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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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February 8, 2016
10:41 EDTAAStocks with call strike movement; AA AMZN
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February 5, 2016
09:37 EDTAAActive equity options trading on open
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February 4, 2016
09:36 EDTAAActive equity options trading on open: AAPL FB GPRO AA NFLX BAC TWC YHOO PG
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February 2, 2016
11:24 EDTAAStocks with call strike movement; AA COP
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February 1, 2016
11:14 EDTAAStocks with call strike movement; NFLX AA
Netflix (NFLX) April 110 call option implied volatility increased 6% to 51, Alcoa (AA) April 8 call option implied volatility increased 4% to 50 according to iVolatility.
09:36 EDTAAActive equity options trading on open
Active equity options trading on open: BAC AAPL FB AMZN TWTR MGM MCD NFLX GILD INTC TSLA AA BABA C
09:04 EDTAAElliott Management: Alcoa 'taking the right steps'
Alcoa and affiliates of Elliott Management, which hold an economic interest in approximately 7.5% of Alcoa's common stock, have entered into an agreement that provides that Elliott will support the company's slate of director nominees at Alcoa's 2016 Annual Meeting of Shareholders.
09:03 EDTAAAlcoa names three new directors to board
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09:02 EDTAAAlcoa to appoint 3 new directors to board; Elliott to support slate of nominees
Alcoa announced that it will appoint Ulrich "Rick" Schmidt, John C. Plant and Sean O. Mahoney to serve on the company's Board of Directors, effective February 5, 2016. These appointments will further strengthen the company and add valuable aerospace and automotive experience to the Board as Alcoa prepares to separate into two independent companies in the second half of 2016. With these appointments, the Alcoa Board will be expanded to consist of 15 directors. In connection with this announcement, Alcoa and affiliates of Elliott Management, which hold an economic interest in approximately 7.5% of Alcoa's common stock, have entered into an agreement that provides that Elliott will support the company's slate of director nominees at Alcoa's 2016 Annual Meeting of Shareholders. Mahoney will be included with the company's slate of director nominees for election at the Company's 2016 Annual Meeting of Shareholders and will be added to the class of directors whose term expires in 2016. Schmidt and Plant will be added to the class of directors whose terms expire in 2017 and 2018, respectively. Dave Miller, Senior Portfolio Manager at Elliott Management said, "We believe the Company is taking the right steps as it moves forward with its separation. This is a pivotal moment for Alcoa and represents an opportunity to create substantial value for shareholders. We are pleased to have worked constructively with Alcoa and believe that Rick, John and Sean bring relevant experience to the Alcoa Board and the future Value-Add Co." As previously announced, Alcoa plans to separate into two, publicly traded companies in the second half of 2016. The Upstream company will comprise five strong business units that today make up Global Primary Products: Bauxite, Alumina, Aluminum, Cast Products and Energy; the innovation and technology-driven Value-Add company will include the Global Rolled Products, Engineered Products and Solutions, and Transportation and Construction Solutions businesses. As the Company prepares to implement the separation, the Board of Directors will work closely with Alcoa's management team in a comprehensive review of its portfolio, operations, profitability drivers and cost structure, and will update the market at the appropriate time.
January 28, 2016
08:31 EDTAAAlcoa, Boeing agree on long-term supply deal
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January 27, 2016
16:01 EDTAAOptions Update; January 28, 2016
iPath S&P 500 VIX Short-Term Futures up 1.02 to 26.01. Option volume leaders: AAPL FB BAC NFLX FCX BABA AA X VZ BA T

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