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Stock Market & Financial Investment News

News Breaks
June 27, 2014
07:40 EDTAAUBS remains cautious on Alcoa following acquisition
UBS said Alcoa's acquisition of Firth Rixon is a strategic positive and will be accretive after the first year, but they remain cautious given their outlook on aluminum premiums and the increased balance sheet leverage. The firm raised its price target on Alcoa to $15 from $13.50 but keeps its Neutral rating on the shares.
News For AA From The Last 14 Days
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March 30, 2015
08:06 EDTAAAlcoa to curtail smelting capacity in Brazil, sees Q1 charge of 1c per share
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08:03 EDTAAAlcoa to curtail smelting capacity in Brazil, sees Q1 charge of 1c
March 27, 2015
07:52 EDTAAAlcoa April volatility elevated into Q1 and outlook
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March 24, 2015
09:38 EDTAAActive equity options trading on open
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March 19, 2015
10:16 EDTAAAlcoa falls, levels to watch
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March 17, 2015
14:35 EDTAAAlcoa to curtail 443,000 mtpy of alumina refining capacity at Suralco
Lightweight metals leader Alcoa announced that it plans to curtail 443,000 metric tons per year of alumina refining capacity at Suralco in Suriname. In addition, the company and the Government of Suriname have agreed to pursue a transaction for a Government-owned entity to acquire the Suralco operations. The curtailment and potential transaction are in line with Alcoa’s recent announcement to review upstream capacity for possible curtailment or divestiture and the company’s strategic goal to create a globally competitive commodity business. The curtailment, which represents one digester, is expected to be complete by April 30. Both parties now intend to pursue a transaction where a Government-owned entity would acquire Suralco, including the mining, refining and Afobaka hydroelectric operations. Following the appropriate due diligence, the parties are targeting to reach agreement on the proposed transaction by July 1. The company will work closely with unions and employees to reduce the impact of the curtailment on affected employees by offering fair severance packages. The Paranam refinery and related mining operations employ approximately 700 people, in addition to contracted personnel. The net financial impact associated with the curtailment is not expected to be material to the company’s earnings.
09:34 EDTAAActive equity options trading on open
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07:08 EDTAAAlcoa weakness creates buying opportunity, says Stifel
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March 16, 2015
16:00 EDTAAOptions Update; March 16, 2015
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