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Stock Market & Financial Investment News

News Breaks
July 8, 2014
17:55 EDTAAAlcoa expects Q3 EPS to 'continue to build on strong second quarter'
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 1H14 against the annual target of $850M. Further restructuring charges are expected to be $50M-$60M after tax for the remainder of 2014, due to the closure of the Australian plants. Approximately 90% of these charges are expected to be non-cash.
News For AA From The Last 14 Days
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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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