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May 22, 2014
07:50 EDTAAAlcoa CEO says improving cost position amid historic shift, CNBC reports
Alcoa CEO Klaus Kleinfeld told CNBC in an interview that the metals industry is experiencing its biggest transformation in 125 years and that the company no longer has to focus on metals markets fluctuations as demand for lighter aluminum alloys has gone "mainstream." Kleinfeld added the company could now be profitable "no matter where the metal price is" as a result of its cost-cutting, the report noted. Reference Link
News For AA From The Last 14 Days
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October 9, 2014
08:45 EDTAAAlcoa shares should be bought, says Sterne Agee
After Alcoa reported stronger than expected results, Sterne Agee believes that the results were strong, as the leverage it is achieving from right sizing its cost structure is exceeding expectations. The firm thinks the company is executing well and keeps an $18 price target on the name.
08:17 EDTAAAlcoa results highlight success of transformation strategy, says Bernstein
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07:35 EDTAAAlcoa restructuring continues as productivity improves, says UBS
UBS said special items tied to restructuring masked strong performance across the board for Alcoa. The firm sees an ongoing transformation with global demand continuing to grow and believes the company is well positioned to increase its revenues in various markets. UBS reiterates its Neutral rating but raises its price target on Alcoa to $17.75 from $16.50.
07:35 EDTAAFutures mixed following yesterday’s big advance
U.S. equity futures are trading near fair value after the market had its best single session of the year yesterday. The market reversed its losing ways following the release of the FOMC minutes which suggested the Fed may use incoming data, rather than a set timetable, as a basis for determining when to raise rates. Last night, earnings season kicked off , as Alcoa's (AA) results beat Wall Street estimates, providing hope for a positive earnings season.
October 8, 2014
18:31 EDTAAOn The Fly: After Hours Movers
UP AFTER EARNINGS: Ruby Tuesday (RT), up 19.6%... Exar (EXAR), up 13.7% after reporting second quarter revenue guidance... Alcoa (AA), up 2.2%. ALSO HIGHER: Nuance (NUAN), up 2.5% following rumors that Carl Icahn will recommend that Apple (AAPL) buy the company... GrubHub (GRUB), up just under 1% after being initiated with a Buy at CRT Capital. DOWN AFTER EARNINGS: Kofax (KFX), down 20.1% after reporting first quarter revenue and fiscal 2015 revenue guidance below analyst estimates... ARC Group (ARCW), down 17%... E2open (EOPN), down 8.9%. ALSO LOWER: Gap (GPS), down 7.6% following September same store sales data and CEO transition... AMD (AMD), down 7% after announcing CEO transition.
18:09 EDTAAAlcoa says all segments improved sequentially in Q3
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16:16 EDTAAAlcoa CEO says Q3 a 'standout quarter'
Says half of Q3 growth was organic. Says downstream business "really humming." Says aerospace market continues to be "very strong." Says growth prospects for next year "positive." Says strength of U.S. dollar a positive for the company. Klaus Kleinfeld is speaking on CNBC.
16:16 EDTAAAlcoa raises production growth view for North America commercial transportation
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16:07 EDTAAAlcoa CEO says 'transformation is delivering'
“This quarter is a clear data point that Alcoa’s transformation is delivering,” said Klaus Kleinfeld, Alcoa Chairman and CEO. “Our downstream business again achieved historically high profitability, the midstream maintained disciplined cost control while capturing growth, and Primary Metals performed at levels not seen since before the downturn. This strong quarter is the direct result of our intense focus on repositioning our portfolio, and we’re just hitting our stride.”
16:06 EDTAAAlcoa continues to see global aerospace sales growth of 8%-9% for 2014
Alcoa continues to project 2014 global aerospace sales growth of 8%-9% driven by robust demand for both large commercial aircraft and regional jets. The company tightened its projection for 2014 global automotive production growth from a previous range of 1%-4% in the second quarter to 2%-4%. Global packaging sales growth of 2%- 3% and global building and construction sales growth of 4%-6% in 2014 remain unchanged. In the industrial gas turbine market, the company’s projected decline of 8%-12%, on lower orders for new gas turbines and spare parts, also remains unchanged for the year.
16:04 EDTAAAlcoa continues to see 2014 global aluminum demand growth of 7%
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16:03 EDTAAAlcoa reports Q3 adjusted EPS 31c, consensus 23c
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16:01 EDTAAOptions Update; October 8, 2014
iPath S&P 500 VIX Short-Term Futures down 2.73 to 29.51. Option volume leaders: AAPL TSLA TWTR AMZN FB NFLX PBR AA CLF GILD according to Track Data.
15:25 EDTAANotable companies reporting after market close
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14:32 EDTAAAlcoa technical comments before earnings
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12:31 EDTAAAlcoa October weekly 15.5 straddle priced for 5.4% move into Q3
11:42 EDTAAStocks with call strike movement; AA MU
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09:38 EDTAAActive equity options trading on open
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07:25 EDTAAFutures suggest a bounce at the open
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October 7, 2014
15:13 EDTAAEarnings Preview: Alcoa sees Q3 EPS to 'continue to build on strong Q2'
Alcoa (AA) is scheduled to report third quarter earnings after the close on Wednesday, October 8, with a conference call scheduled for 5:00 pm ET. Alcoa is a global manufacturer of aluminum products. EXPECTATIONS: Analysts are looking for earnings per share of 23c on revenue of $5.85B, according to First Call. The consensus range for EPS is 15c-28c on revenue of $5.62B-$6.07B. LAST QUARTER: Alcoa reported second quarter adjusted EPS of 18c against estimates for 12c on revenue of $5.8B against estimates for $5.66B. The company reiterated its 2014 global aluminum demand growth view of 7%, and backed its 2014 global aerospace growth outlook of 8%-9%. It raised its 2014 estimate for the North America commercial transportation market to 10%-14%, from a previous range of 5%-9%. The higher estimate was based in part on rising truck orders and backlogs. CEO Klaus Kleinfeld said the company's transformation was in "high gear." He noted that aerospace business is a tailwind due to strong demand for commercial aircraft, and said the company is well-positioned to capture upside from recent investments. On Alcoa's Q2 earnings conference call, management said during the quarter the company witnessed revenue growth across all major end markets and the businesses continued to deliver productivity gains. They expect Q3 earnings per share to "continue to build on the strong second quarter." 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. For 2014, productivity is ahead of schedule with $556M of productivity gains achieved in first half 2014 against the annual target of $850M. On September 11, Alcoa signed a multi-year supply contract with Boeing (BA) valued at over $1B. STREET RESEARCH: Street research has been overwhelmingly positive in the weeks leading up to Alcoa's Q3 earnings report. On July 9, three firms, Stifel, JP Morgan, and Argus raised their respective price targets on Alcoa. On September 30, BofA/Merrill upgraded Alcoa to Buy from Neutral with a price target of $18. The firm was more positive on the outlook for aluminum and raised Alcoa's 2015 EPS estimate to $1.05 and EBITDA to $4.1B vs. consensus of 85c and $3.8B. BofA said plant closures, better demand, and falling pension costs were catalysts. PRICE ACTION: Alcoa shares have rallied approximately 8% over the past three months, touching a 52-week high of $17.36 in September. Over the past twelve months, the stock is up about 100%. In early afternoon trading ahead of tomorrow's Q3 report, Alcoa shares are down fractionally.
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