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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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August 4, 2015
05:32 EDTAAAlcoa upgraded to Buy from Neutral at UBS
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August 3, 2015
10:01 EDTAAAlcoa falls, levels to watch
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July 28, 2015
16:43 EDTNORNoranda Aluminum receives not in compliance notice from NYSE
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10:00 EDTKALUOn The Fly: Analyst Downgrade Summary
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06:16 EDTKALUKaiser Aluminum downgraded to Sector Weight from Overweight at KeyBanc
KeyBanc downgraded Kaiser Aluminum to Sector Weight citing balanced risk/reward.
July 26, 2015
15:35 EDTAAAlcoa looks 'far more promising' under CEO Kleinfeld, Barron's says
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July 23, 2015
09:06 EDTAAAlcoa announces realignment of downstream portfolio
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09:02 EDTAAAlcoa completes acquisition of RTI International
Alcoa (AA) announced that it has completed the acquisition of RTI International Metals (RTI). The merger, announced on March 9, became effective today. Under the terms of the merger agreement, each share of RTI common stock has been converted into the right to receive 2.8315 shares of Alcoa common stock, plus an amount of cash in lieu of fractional shares of Alcoa common stock. Alcoa expects RTI to contribute $1.2 billion in revenue in 2019, up from $794 million that RTI generated in 2014, with 65 percent of revenues supported by contracts over the next five years. RTI’s profitability is expected to reach 25 percent EBITDA margin in 2019. Contracts that underpin RTI’s growth include the recently announced contract with Airbus for finished titanium structural supply parts for the new A350-1000 aircraft program. Under the agreement, Alcoa will supply titanium parts for the fuselage, among other components. Alcoa expects global aerospace sales growth of 8 to 9 percent in 2015. Projections for 2016 and 2017 sales growth have nearly doubled to 8 and 13 percent, from 4 to 5 percent and 6 percent, respectively, showing the ongoing strength of the sector. Eighty percent of RTI’s revenues in 2014 were from the aerospace and defense industries. With RTI, Alcoa’s 2014 pro forma aerospace revenue increases by 13 percent to $5.6 billion. RTI is being integrated as a standalone business unit into Alcoa’s downstream Engineered Products and Solutions segment.
July 22, 2015
07:06 EDTNORNoranda Aluminum reports Q2 EPS ex-items (25c), consensus (7c)
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July 21, 2015
16:35 EDTKALUKaiser Aluminum increases FY outlook for value added revenue growth
We are increasing our full year outlook for year-over-year value added revenue growth from 6%-8% to 7%-9% based on a more favorable outlook for our automotive extrusion applications, as lower fuel prices have shifted demand towards larger vehicles with higher aluminum extrusion product content. We also expect additional improvement in manufacturing cost efficiency due to the continued benefits of the investments in Trentwood’s Phase 5 capacity expansion and new casting complex as well as our investments to support further growth in automotive extrusions. In addition, we anticipate slowly improving prices for spot market sales of heat treat plate products," said Jack A. Hockema, President, CEO.
16:33 EDTKALUKaiser Aluminum reports Q2 EPS $1.27, consensus $1.19
Reports Q2 revenue $367M, consensus $.366.45M

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