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Stock Market & Financial Investment News

News Breaks
April 9, 2014
13:51 EDTAAAlcoa price target raised to $15 from $13 at Argus
Argus increased its price target on Alcoa after the company reported higher than expected Q1 EPS. Over the rest of the year the firm expects the company to benefit from continued strong results from its Engineered Products and Solutions business, along with additional cost cutting. The firm keeps a Buy rating on the shares.
News For AA From The Last 14 Days
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October 30, 2014
16:00 EDTAAOptions Update; October 30, 2014
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October 28, 2014
09:20 EDTAAAlcoa to host investor day
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October 27, 2014
10:00 EDTAAOn The Fly: Analyst Upgrade Summary
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05:44 EDTAAAlcoa upgraded to Buy from Hold at Deutsche Bank
Deutsche Bank upgraded Alcoa to Buy citing the turnaround in the company's upstream Primary smelting business following the company's Q3 results. Deutsche raised its price target for shares to $20 from $16. The stock closed Friday up 31c to $16.55.
October 23, 2014
16:16 EDTAAAlcoa to sell ownership stake in Mt. Holly Smelter to Century Aluminum
Alcoa (AA) announced that it has reached an agreement to sell its ownership stake in the Mt. Holly aluminum smelter in Goose Creek, South Carolina, to Century Aluminum Company (CENX) for $67.5M in cash, plus an additional potential earn-out. Mt. Holly is owned 50.3% by Alcoa and 49.7% by Century. The sale is subject to customary regulatory approvals, and is expected to close by the end of Q4. Based on current estimates, the transaction will not result in a significant gain or loss to Alcoa.
16:09 EDTAACentury Aluminum to acquire full ownership of Mt. Holly Smelter for $67.5M
Century Aluminum Company (CENX) announced that its wholly owned subsidiary has entered into a definitive agreement to acquire Alcoa's (AA) 50.3% stake in the Mt. Holly aluminum smelter. Mt. Holly, located in Berkeley County, South Carolina, employs approximately 600 people and has an annual production capacity of 229,000 metric tons of primary aluminum. Following the closing of the transaction, Century will own 100% of Mt. Holly. Pursuant to the terms of the agreement, Century will acquire Alumax of South Carolina, a subsidiary of Alcoa and owner of Alcoa's 50.3% interest in Mt. Holly, for $67.5M in cash less certain amounts owed by Alumax to Mt. Holly and subject to working capital and other similar adjustments. The transaction is expected to close in Q4 and is subject to customary closing conditions.

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