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Stock Market & Financial Investment News

News Breaks
July 9, 2014
12:27 EDTACH, KALU, AA, NORAlcoa 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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December 18, 2014
17:12 EDTAAAlcoa files to sell 36.52M shares of common stock for holders
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06:04 EDTAAAlcoa implied volatility of 48 at upper end of index mean range
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December 17, 2014
16:00 EDTAAOptions Update; December 17, 2014
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December 16, 2014
16:00 EDTAAOptions Update; December 16, 2014
iPath S&P 500 VIX Short-Term Futures up 1.55 to 34.60. Option volume leaders: AAPL TSLA TWTR AMZN FB C GILD BAC NFLX AA MGM MCD according to Track Data.
08:04 EDTAAAlcoa Q4 EPS should beat expectations, says Stifel
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06:02 EDTAAAlcoa implied volatility of 46 at upper end of index mean range
December 15, 2014
09:38 EDTAAActive equity options trading
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05:47 EDTAAAlcoa to acquire TITAL, terms not disclosed
Alcoa announced plans to further expand its global aerospace business through a definitive agreement to acquire privately held TITAL. The acquisition will strengthen Alcoa’s global position to capture increasing demand for advanced jet engine components made of titanium. This transaction will further position Alcoa to capitalize on strong growth in the commercial aerospace sector. Alcoa projects a compounded annual commercial jet growth rate of 7% through 2019 and sees a current 9-year production order book at 2013 delivery rates. Almost 70% of TITAL’s revenues are expected to come from commercial aerospace sales in 2019. In 2013, the company generated revenues of approximately $96M, more than half of which came from titanium products. The acquisition will establish titanium casting capabilities in Europe for Alcoa, while expanding its aluminum casting capacity. TITAL employs more than 650 people, primarily in Bestwig, Germany. Financial details of the transaction were not disclosed.
December 11, 2014
14:02 EDTAAAlcoa plans $16.7M expansion to double high-tech coating capacity
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December 10, 2014
09:06 EDTACHSynthesis Energy China JV partner awarded over $105M in orders
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December 9, 2014
16:00 EDTAAOptions Update; December 9, 2014
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