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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
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July 23, 2014
16:42 EDTKALUKaiser Aluminum still sees 2014 results as similar to 2012, 2013
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16:41 EDTKALUKaiser Aluminum reports Q2 EPS ex-items $1.05, consensus 87c
Reports Q2 revenue $344.1M, consensus $334.89M.
July 22, 2014
16:00 EDTAAOptions Update; July 22, 2014
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07:38 EDTKALUKaiser Aluminum management to meet with Sterne Agee
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July 18, 2014
09:37 EDTACHAluminum Corp. of China downgraded to Sell from Neutral at UBS
July 17, 2014
16:13 EDTAAHP appoints Whitman Chairman, Alcoa's Kleinfeld joins board
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09:40 EDTAAActive equity options trading on open
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07:12 EDTKALUKaiser Aluminum initiated with a Neutral at JPMorgan
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July 15, 2014
10:37 EDTAAOptions with decreasing implied volatility
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July 14, 2014
07:04 EDTAAAlcoa announces $1.1B supply agreement with Pratt & Whitney
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