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Stock Market & Financial Investment News

News Breaks
March 28, 2014
09:01 EDTAAAlcoa to curtail 147,000 metric tons of aluminum smelting capacity in Brazil
Alcoa announced it will curtail 147,000 metric tons of smelting capacity at its São Luís and Poços de Caldas smelters in Brazil due to challenging global market conditions in primary aluminum and increased costs that have made the smelters uncompetitive. The curtailments are expected to be complete by the end of May 2014. In 2013, the company curtailed 34,000 metric tons at Poços and 97,000 metric tons at São Luís. The new curtailments will include the remaining 62,000 metric tons of capacity from the Poços smelter, resulting in a full curtailment of its three potlines. Another 85,000 metric tons will be curtailed at São Luís. As a result of the smelter curtailment, the Poços refinery will also reduce production accordingly. The mine, aluminum powder plant and casthouse at Poços will continue normal operations, as will the refinery at São Luís. Other Alcoa operations in Brazil are not affected. Total restructuring-related charges associated with the Brazil curtailments in the first quarter are expected to be between $40M-$50M after-tax, or 4c-5c per share, of which approximately 30% would be non-cash.
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September 30, 2014
07:39 EDTAAAlcoa upgraded at BofA/Merrill
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06:16 EDTAAAlcoa upgraded to Buy from Neutral at BofA/Merrill
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September 25, 2014
14:58 EDTAAAlcoa October volatility elevated into Q3 and outlook
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06:58 EDTAAAlcoa estimates raised ahead of earning on higher aluminum prices at Stifel
Stifel raised Alcoa's Q3 EPS estimate to 24c from 20c, vs. consensus of 20c, 2014 EPS to 70c from 67c, vs. consensus of 64c, and 2015 EPS to $1.25 from $1.05, vs. consensus of 87c, reflecting higher aluminum prices. The firm believes price strength has been due to rising demand and producer discipline. Shares are Buy rated with a $20 price target, up from $17.
September 23, 2014
10:54 EDTAAAlcoa initiated with a Buy at Tigress Financial
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September 22, 2014
12:59 EDTAAToyota to use aluminum for Camry hood, Automotive News says
Toyota Motor (TM) looks set to begin using aluminum instead of steel to build the hood of its widely popular Camry vehicle, according to Automotive News. The change will begin in 2018, the website quoted an unnamed source as saying, Alcoa (AA) mines aluminum. Reference Link
September 16, 2014
09:36 EDTAAActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL NFLX TSLA YHOO FB PBR MU AA TWTR WMT

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