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Stock Market & Financial Investment News

News Breaks
January 29, 2013
11:56 EDTAA, AKSAK Steel says innovations in steel engineering reducing weight
On the Q4 conference call the CEO said aluminum will continue to play a role in automotive design and construction but steel will continue to play the leading role because of passenger safety, engineering and design, as well as advances in weighting and value.
News For AKS;AA From The Last 14 Days
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March 6, 2015
08:31 EDTAAAlcoa announces strategic review of smelting, refining capacity
Alcoa announced that it is continuing to aggressively transform its upstream portfolio to create a lower cost, globally competitive commodity business. The company said over the next twelve months it will review 500,000 metric tons of smelting capacity and 2.8 million metric tons of refining capacity for possible curtailment or divestiture. The review will include facilities across the Alcoa system. The potential actions could affect 14% of Alcoa’s global smelting capacity and 16% of its global refining capacity. Currently, the company has 19%, or 665,000 metric tons, of smelting capacity and 7%, or 1.2 million metric tons, of its global refining capacity idle. “Alcoa continues to take decisive action, transforming its upstream portfolio to create a lower cost, globally competitive commodity business,” said Bob Wilt, President of Alcoa’s Global Primary Products. “Our goal is to move down the global aluminum cost curve to the 38th percentile and the global alumina cost curve to the 21st percentile by 2016. The results from this review will help achieve those goals. We’ll take action only after a thorough strategic review to determine the best outcome for our shareholders and in consultation with our stakeholders.” When reviewing capacity, Alcoa will consider a wide variety of alternative actions, ranging from partial to full plant curtailments, permanent shutdowns or divestitures. Decisions on curtailments, closures or divestitures will be announced as reviews are completed.
08:16 EDTAKSEU ready to impose duties on stainless steel from China, Taiwan, Reuters says
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March 5, 2015
16:00 EDTAAOptions Update; March 5, 2015
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10:37 EDTAAAlcoa falls, approaches key support, levels to watch
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March 4, 2015
16:02 EDTAAOptions Update; March 4, 2015
iPath S&P 500 VIX Short-Term Futures down 6c to 27.22. Option volume leaders: AAPL TSLA TWTR AA PBR NFLX MNKD FB BMY C according to Track Data.
13:37 EDTAAOptions with increasing volume
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10:01 EDTAAOn The Fly: Analyst Downgrade Summary
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09:36 EDTAAActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL AA AMZN CELG MCD SINA TSLA V TWTR PBR
09:08 EDTAAOn The Fly: Pre-market Movers
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07:48 EDTAAAlcoa downgraded to Neutral from Buy at BofA/Merrill
As previously reported, BofA/Merrill downgraded Alcoa to Neutral from Buy. The firm lowered its aluminum forecasts to reflect worsening aluminum fundamentals from increased Chinese exports and pressure from LME warehouse rule changes. Price target lowered to $17 from $20.
06:35 EDTAAAlcoa downgraded to Neutral from Buy at BofA/Merrill
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March 3, 2015
10:01 EDTAKSOn The Fly: Analyst Downgrade Summary
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06:20 EDTAKSAK Steel downgraded to Neutral from Buy at Nomura
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05:26 EDTAAAlcoa completes acquisition of TITAL
Alcoa announced that it has completed the acquisition of privately held TITAL. Alcoa closed the transaction, which was announced on December 15, 2014, after receiving all of the required global regulatory approvals. TITAL is a manufacturer of titanium and aluminum structural castings for aircraft engines and airframes. Alcoa sees a current 8-year production order book at 2014 delivery rates. Almost 70% of TITAL’s revenues are expected to come from commercial aerospace sales in 2019. Further, its titanium revenues are expected to increase by 70% over the next five years as manufacturers of next-generation jet engines look to titanium solutions for engine structural components. In 2014, TITAL generated revenues of approximately approximately $100M, more than half of which came from titanium products. TITAL’s business is being integrated into Alcoa’s Engineered Products and Solutions segment.
March 2, 2015
09:23 EDTAKSBofA/Merrill U.S. metals/mining analysts hold analyst/industry conference call
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February 26, 2015
09:35 EDTAAActive equity options trading on open
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February 23, 2015
13:01 EDTAKSAK Steel to build research and innovation center in Middletown, Ohio
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07:40 EDTAABMO Capital to hold a conference
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