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Fly News Breaks for March 10, 2015
Mar 10, 2015 | 07:26 EDT
RBC Capital believes that Alcoa's (AA) acquisition of RTI International Metals (RTI) is neutral. The firm says that the deal diversifies Alcoa's business and increases its exposure to aerospace, but notes that it is not expected to become accretive until year three and makes a relatively small initial contribution to Aloca's earnings and cash flow. The firm keeps a Sector Perform rating on Aloca.
News For AA;RTI From the Last 2 Days
Feb 17, 2018 | 08:32 EDT
Catch up on the top industries and stocks that were impacted, or were predicted to be impacted, by the comments, actions and policies of President Trump and his administration with this weekly recap compiled by The Fly: 1. INFRASTRUCTURE: On Monday, the Trump administration unveiled its infrastructure plan. The White House said its plan will create $1.5T for repairing and upgrading the country's infrastructure, but only $200B of that will come from direct federal spending. The rest should come from state and local governments, which are expected to match any federal allocation by at least a four-to-one ratio. About $100B of the new federal money would be parceled out as incentives to local government entities, an additional $20B would go toward "projects of national significance," and another $50B is earmarked for rural block grants. The rest of the money would support other infrastructure-related undertakings, including existing loan programs. The Trump administration also said it wants to shorten the time and expense of getting federal permits by consolidating the reviews conducted by different agencies into one federal decision. Publicly traded companies that could benefit from spending on infrastructure include Aecom (ACM), CB&I (CBI), Caterpillar (CAT), Eagle Materials (EXP), Fluor (FLR), Granite Construction (GVA), Jacobs Engineering (JEC), Martin Marietta (MLM), Quanta Services (PWR), U.S. Concrete (USCR) and Vulcan Materials (VMC). 2. GAS TAX: According to multiple media reports on Wednesday, President Donald Trump is said to be open to raising the federal tax on gasoline and diesel by 25c to pay for the White House's infrastructure plan. The current taxes are 18.4c per gallon for gasoline and 24.4c for diesel, and have not been raised in nearly 25 years. 3. TAX REFORM, LESS REGULATION: Speaking at the Goldman Sachs Technology and Internet Conference on Thursday, Visa (V) CEO Alfred Kelly said that the new tax reform and less regulation will have a "great" impact on the economy, and noted that the Trump administration is trying to drive down "shackles" of regulations for financial services companies. President Trump's policies may not be a big deal "directly" for the company, but are a big deal "indirectly," he added. 4. STEEL, ALUMINUM 232 FINDINGS: Commerce Secretary Wilbur Ross released reports on the Department of Commerce's investigations into the impact on national security from imports of steel mill products and from imports of wrought and unwrought aluminum. The Department of Commerce found that the quantities and circumstances of steel and aluminum imports "threaten to impair the national security," as defined by Section 232. Secretary Ross recommended remedies to address the problem of steel imports and for dealing with the excessive imports of aluminum, noting that the President is required to make a decision on the recommendations by April. Publicly traded companies in the aluminum space include Alcoa (AA), Arconic (ARNC), and Century Aluminum (CENX). Publicly traded companies in the steel space include U.S. Steel (X), Steel Dynamics (STLD), AK Steel (AKS), Cleveland-Cliffs (CLF), Nucor (NUE), ArcelorMittal (MT), and Timken (TKR). 5. RUSSIAN INDICTMENTS: Special counsel Robert Mueller on Friday charged 13 Russian nationals and three Russian companies for allegedly carrying out "information warfare against the United States," and Deputy Attorney General Rod Rosenstein indicted the Russian conspirators on charges related to interference with the 2016 presidential election. Rosenstein noted there is no allegation in the indictment that any American had any knowledge of the alleged conspiracy. "Week in Review" is The Fly's weekly recap of its recurring series of "Trump Effect" exclusive stories.
Feb 16, 2018 | 11:32 EDT
Shares of Century Aluminum (CENX) are nearly 5% higher following the headlines regarding the plans of the U.S. Commerce Department.
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