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Stock Market & Financial Investment News

News Breaks
June 30, 2014
07:04 EDTATI, AAAllegheny Tech has positive read through from deal, says Stifel
After Alcoa (AA) agreed to buy Allegheny Technologies (ATI) peer Firth Rixson, Stifel thinks the deal indicates that the market is undervaluing Allegheny Technologies. The firm believes that the aerospace market is heating up, and it raised its price target on Allegheny to $50 from $45. Stifel keeps a Buy rating on the stock.
News For ATI;AA From The Last 14 Days
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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.
08:13 EDTATIAllegheny names Elizabeth Powers as Chief Human Resources Officer
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October 21, 2014
07:20 EDTATIAllegheny Technologies now sees HRPF start-up costs at low end of range
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07:17 EDTATIAllegheny Technologies reports Q3 EPS (1c), consensus (5c)
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October 20, 2014
16:20 EDTATIAllegheny Technologies reaches mill products and forgings long-term agreements
Allegheny Technologies announced that it has extended and expanded its long-term supply agreements,LTA, for mill products and closed-die forgings with a major jet engine OEM. One new LTA covers a wide range of Premium-Quality titanium-based alloy and nickel-based superalloy mill products. The other LTA covers closed-die forgings, including parts made using advanced iso-thermal and hot-die forging processes. The agreements begin in 2015 and continue into the next decade.
16:16 EDTATIAllegheny Technologies signs long-term titanium cast products agreement
Allegheny Technologies announced that it has signed an agreement to supply titanium investment cast products to Snecma for use in single-aisle and business jet engine programs, including the CFM LEAP family. The new agreement begins in 2015 and extends into the next decade.
15:36 EDTATINotable companies reporting before tomorrow's open
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October 17, 2014
08:48 EDTATIBofA/Merrill global steel analysts hold analyst/industry conference call
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October 15, 2014
09:02 EDTAAAlcoa to sell stake in Jamalco to Noble
Alcoa and Noble Group announced the signing of a definitive agreement that will result in Alcoa World Alumina and Chemicals selling 100% of its ownership stake in the Jamalco bauxite mining and alumina refining joint venture to Noble for $140M. AWAC will continue as the managing operator for three years under a compensated service agreement and employees will remain employed by Jamalco. The Jamalco joint venture is 55% owned by Alcoa Minerals of Jamaica and 45% owned by Clarendon Alumina Production. AMJ is part of the AWAC joint venture, owned 60% by Alcoa and 40 percent by Alumina. CAP is a company wholly owned by the Government of Jamaica. The sale is subject to customary regulatory approvals, and is expected to close by the end of Q4. As a result of the transaction, Alcoa will record a non-cash loss of approximately $80M-$100M, or between 7c-9c per share, after-tax and non-controlling interest in Q4. This sale is in line with Alcoa’s strategy to create a globally competitive commodity business.
09:01 EDTAAAlcoa to sell stake in Jamalco to Noble
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October 14, 2014
16:00 EDTAAOptions Update; October 14, 2014
iPath S&P 500 VIX Short-Term Futures down 40c to 39.11. Option volume leaders: AAPL TSLA TWTR AMZN GILD C JNJ AA NFLX PBR according to Track Data.
October 13, 2014
09:39 EDTAAActive equity options trading on open
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