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1200.0
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2014-01-28 00:00:00 UTC
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After Hours Most Active for Jan 28, 2014 : FTNT, YHOO, SIRO, C^K, BBY, WEN, MSFT, QCOM, X, T, AA, HLF
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AA
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https://www.nasdaq.com/articles/after-hours-most-active-jan-28-2014-ftnt-yhoo-siro-ck-bby-wen-msft-qcom-x-t-aa-hlf-2014-01
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The NASDAQ 100 After Hours Indicator is down -3.21 to 3,502.51. The total After hours volume is currently 85,042,301 shares traded.
The following are the most active stocks for the after hours session :
Fortinet, Inc. ( FTNT ) is unchanged at $22.00, with 9,706,225 shares traded.FTNT is scheduled to provide an earnings report on 1/29/2014, for the fiscal quarter ending Dec2013. The consensus earnings per share forecast is 0.09 per share, which represents a 13 percent increase over the EPS one Year Ago
Yahoo! Inc. ( YHOO ) is -1.31 at $36.91, with 5,308,559 shares traded. RTT News Reports: Yahoo! Q4 Profit Rises - Quick Facts
Sirona Dental Systems, Inc. ( SIRO ) is +0.009 at $74.66, with 3,950,401 shares traded. As reported by Zacks, the current mean recommendation for SIRO is in the "buy range".
Citigroup Inc. (C^K) is -0.027 at $25.75, with 2,547,600 shares traded.
Best Buy Co., Inc. ( BBY ) is unchanged at $24.72, with 1,946,699 shares traded. Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Apr 2014. The consensus EPS forecast is $0.34. As reported by Zacks, the current mean recommendation for BBY is in the "buy range".
Wendy's Company (The) ( WEN ) is +0.0011 at $8.95, with 1,661,885 shares traded. Over the last four weeks they have had 4 up revisions for the earnings forecast, for the fiscal quarter ending Dec 2013. The consensus EPS forecast is $0.1. WEN's current last sale is 111.89% of the target price of $8.
Microsoft Corporation ( MSFT ) is unchanged at $36.27, with 1,297,860 shares traded. Over the last four weeks they have had 4 up revisions for the earnings forecast, for the fiscal quarter ending Sep 2014. The consensus EPS forecast is $0.65. MSFT's current last sale is 90.68% of the target price of $40.
QUALCOMM Incorporated ( QCOM ) is -0.14 at $71.85, with 1,170,235 shares traded.QCOM is scheduled to provide an earnings report on 1/29/2014, for the fiscal quarter ending Dec2013. The consensus earnings per share forecast is 1.1 per share, which represents a 114 percent increase over the EPS one Year Ago
United States Steel Corporation ( X ) is +0.66 at $26.00, with 904,316 shares traded. X's current last sale is 101.96% of the target price of $25.5.
AT&T Inc. ( T ) is -0.57 at $33.13, with 824,493 shares traded. Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Dec 2013. The consensus EPS forecast is $0.5. RTT News Reports: AT&T Turns To Profit In Q4 - Quick Facts
Alcoa Inc. ( AA ) is unchanged at $11.85, with 795,005 shares traded. Over the last four weeks they have had 4 up revisions for the earnings forecast, for the fiscal quarter ending Mar 2014. The consensus EPS forecast is $0.03. AA's current last sale is 131.67% of the target price of $9.
Herbalife LTD. ( HLF ) is unchanged at $62.54, with 654,710 shares traded. As reported by Zacks, the current mean recommendation for HLF is in the "strong buy range".
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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RTT News Reports: AT&T Turns To Profit In Q4 - Quick Facts Alcoa Inc. ( AA ) is unchanged at $11.85, with 795,005 shares traded. AA's current last sale is 131.67% of the target price of $9. The following are the most active stocks for the after hours session : Fortinet, Inc. ( FTNT ) is unchanged at $22.00, with 9,706,225 shares traded.FTNT is scheduled to provide an earnings report on 1/29/2014, for the fiscal quarter ending Dec2013.
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RTT News Reports: AT&T Turns To Profit In Q4 - Quick Facts Alcoa Inc. ( AA ) is unchanged at $11.85, with 795,005 shares traded. AA's current last sale is 131.67% of the target price of $9. The following are the most active stocks for the after hours session : Fortinet, Inc. ( FTNT ) is unchanged at $22.00, with 9,706,225 shares traded.FTNT is scheduled to provide an earnings report on 1/29/2014, for the fiscal quarter ending Dec2013.
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RTT News Reports: AT&T Turns To Profit In Q4 - Quick Facts Alcoa Inc. ( AA ) is unchanged at $11.85, with 795,005 shares traded. AA's current last sale is 131.67% of the target price of $9. The following are the most active stocks for the after hours session : Fortinet, Inc. ( FTNT ) is unchanged at $22.00, with 9,706,225 shares traded.FTNT is scheduled to provide an earnings report on 1/29/2014, for the fiscal quarter ending Dec2013.
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RTT News Reports: AT&T Turns To Profit In Q4 - Quick Facts Alcoa Inc. ( AA ) is unchanged at $11.85, with 795,005 shares traded. AA's current last sale is 131.67% of the target price of $9. The following are the most active stocks for the after hours session : Fortinet, Inc. ( FTNT ) is unchanged at $22.00, with 9,706,225 shares traded.FTNT is scheduled to provide an earnings report on 1/29/2014, for the fiscal quarter ending Dec2013.
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1201.0
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2014-01-27 00:00:00 UTC
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#PreMarket Primer: Monday, January 27: Markets Open The Week On Edge
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https://www.nasdaq.com/articles/premarket-primer-monday-january-27-markets-open-week-edge-2014-01-27
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nan
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Emerging market currencies and European stocks were on the decline on Monday morning which caused investors to worry about another market confidence crisis.
Several factors have converged over the past week to create panic among investors and spark sell offs across the globe.
Weak economic data from China and the possibility of further tapering from the US Federal Reserve have been the main drivers of the sell off, with opinions split about whether or not it will continue.
Top News
In other news around the markets:
The lfo institute's business confidence index indicated that German business sentiment improved more than expected in January. The survey of around 7,000 companies rose to 110.6 from 109.5, its highest reading since July 2011. The data, released on Monday, indicated that the eurozone's largest economy is set to experience robust growth in 2014. Ukrainian anti-government protests escalated over the weekend after tens of thousands of protestors surrounded government buildings across the nation on Sunday. Protestors have been calling for President Viktor Yanukovych's removal from office for the past two months after he turned his back on an alliance with the EU. On Monday, AT&T made a statement to the London Stock Exchange denying rumors that the company was planning to bid for Vodafone. Many believe AT&T is apprehensive about buying into Europe as competition between providers has driven prices down significantly. Samsung and Google strengthened their existing alliance by signing a cross-licensing technology patent. The deal will create the opportunity for both companies to collaborate further on upcoming products.
Asian Markets
Asian markets were down across the board as the market suffered a crisis of confidence. The Japanese NIKKE was down 2.51 percent, China's Shanghai composite was down 1.03 percent and the Shenzhen composite lost 0.72 percent. Indonesia's JSX composite lost 2.58 percent and the Hang Seng index fell 2.11 percent.
European Markets
European markets also started the week off on a low note; the UK's FTSE was down 1.20 percent and the eurozone's STOXX 600 lost 0.79 percent. The German DAX fell 0.37 percent and Italy's MIB was down 1.11 percent.
Commodities
Energy futures were mixed with Brent futures down 0.23 percent and WTI futures down 0.42 percent. Gold gained 0.41 percent and silver was up 0.91 percent. Industrial metals were mixed with copper up 0.24 percent but zinc down 1.25 percent.
Currencies
Emerging market currencies were on the decline on Monday as investors worried about whether or not the Fed was planning to continue reducing its stimulus spending. The Argentine peso fell 1.14 percent against the dollar and the Indian rupee was down 0.96 percent. The euro was steady against the dollar at $1.3682 and the pound rose 0.49 percent against the greenback. The Japanese yen lost 0.28 percent against the dollar and the Australian dollar gained 0.51 percent against the American currency.
Earnings
Notable earnings released on Friday included:
Procter & Gamble Company (NYSE: PG ) reported second quarter EPS of $1.21 on revenue of $22.28 billion, compared to last year's EPS of $1.22 on revenue of $22.18 billion. Honeywell International Inc. (NYSE: HON ) reported fourth quarter EPS of $1.24 on revenue of $10.39 billion, compared to last year's EPS of $1.10 on revenue of $9.58 billion. Xerox Corporation (NYSE: XRX ) reported fourth quarter EPS of $0.29 on revenue of $5.57 billion, compared to last year's EPS of $0.30 on revenue of $5.92 billion. Kimberly-Clark Corporation (NYSE: KMB ) reported fourth quarter EPS of $1.44 on revenue of $5.31 billion, compared to last year's EPS of $1.37 on revenue of $5.31 billion. Bristol-Myers Squibb Company (NYSE: BMY ) reported fourth quarter EPS of $0.51 on revenue of $4.44 billion, compared to last year's EPS of $0.47 on revenue of $4.19 billion.
Pre-Market Movers
Stocks moving in the Premarket included:
Perrigo Company PLC (NYSE: PRGO ) rose 0.40 percent in premarket trade after falling 1.53 percent on Friday. Alcoa Inc. (NYSE: AA ) was down 0.79 percent in premarket trade after losing 5.22 percent on Friday. Pfizer Inc. (NYSE: PFE ) lost 0.47 percent in premarket trade after falling 3.22 percent last week. Johnson & Johnson (NYSE: JNJ ) fell 0.29 percent in premarket trade after losing 4.68 percent over the past week.
Notable earnings releases expected on Monday include:
Apple Inc. (NASDAQ: AAPL ) is expected to report first quarter EPS of $14.08 on revenue of $57.40 billion, compared to last year's EPS of $13.81 on revenue of $54.51 billion. United States Steel Corporation (NYSE: X ) is expected to report a fourth quarter loss of $0.26 per share on revenue of $4.34 billion, compared to last year's loss of $0.41 on revenue of $4.49 billion. Seagate Technology (NASDAQ: STX ) is expected to report second quarter EPS of $1.38 on revenue of $3.56 billion, compared to last year's EPS of $1.38 on revenue of $3.67 billion. Ashland Inc. (NYSE: ASH ) is expected to report first quarter EPS of $1.31 on revenue of $1.87 billion, compared to last year's EPS of $1.12 on revenue of $1.87 billion.
Economics
Monday'seconomic calendarwill be relatively quiet, with releases including US new home sales, US services PMI, German business expectations and the German lfo business climate index.
For a recap of Monday's market action click .
Tune into Benzinga's pre-market info show with Dennis Dick and Joel Elconin here .
(c) 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Free Trading Education - Check out the free events taking place on Marketfy this week. Spaces are limited. Sign up today.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Alcoa Inc. (NYSE: AA ) was down 0.79 percent in premarket trade after losing 5.22 percent on Friday. Notable earnings releases expected on Monday include: Apple Inc. (NASDAQ: AAPL ) is expected to report first quarter EPS of $14.08 on revenue of $57.40 billion, compared to last year's EPS of $13.81 on revenue of $54.51 billion. Weak economic data from China and the possibility of further tapering from the US Federal Reserve have been the main drivers of the sell off, with opinions split about whether or not it will continue.
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Notable earnings releases expected on Monday include: Apple Inc. (NASDAQ: AAPL ) is expected to report first quarter EPS of $14.08 on revenue of $57.40 billion, compared to last year's EPS of $13.81 on revenue of $54.51 billion. Alcoa Inc. (NYSE: AA ) was down 0.79 percent in premarket trade after losing 5.22 percent on Friday. Earnings Notable earnings released on Friday included: Procter & Gamble Company (NYSE: PG ) reported second quarter EPS of $1.21 on revenue of $22.28 billion, compared to last year's EPS of $1.22 on revenue of $22.18 billion.
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Notable earnings releases expected on Monday include: Apple Inc. (NASDAQ: AAPL ) is expected to report first quarter EPS of $14.08 on revenue of $57.40 billion, compared to last year's EPS of $13.81 on revenue of $54.51 billion. Alcoa Inc. (NYSE: AA ) was down 0.79 percent in premarket trade after losing 5.22 percent on Friday. European Markets European markets also started the week off on a low note; the UK's FTSE was down 1.20 percent and the eurozone's STOXX 600 lost 0.79 percent.
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Alcoa Inc. (NYSE: AA ) was down 0.79 percent in premarket trade after losing 5.22 percent on Friday. Notable earnings releases expected on Monday include: Apple Inc. (NASDAQ: AAPL ) is expected to report first quarter EPS of $14.08 on revenue of $57.40 billion, compared to last year's EPS of $13.81 on revenue of $54.51 billion. Weak economic data from China and the possibility of further tapering from the US Federal Reserve have been the main drivers of the sell off, with opinions split about whether or not it will continue.
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1202.0
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2014-01-24 00:00:00 UTC
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Pre-Market Most Active for Jan 24, 2014 : AA, NOK, TS, MSFT, MT, NVO, LYG, QQQ, BBRY, ARIA, FB, XIV
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AA
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https://www.nasdaq.com/articles/pre-market-most-active-jan-24-2014-aa-nok-ts-msft-mt-nvo-lyg-qqq-bbry-aria-fb-xiv-2014-01
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nan
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The NASDAQ 100 Pre-Market Indicator is down -4.45 to 3,609.31. The total Pre-Market volume is currently 4,947,263 shares traded.
The following are the most active stocks for the pre-market session :
Alcoa Inc. ( AA ) is -0.19 at $11.88, with 2,874,445 shares traded. Over the last four weeks they have had 4 up revisions for the earnings forecast, for the fiscal quarter ending Mar 2014. The consensus EPS forecast is $0.03. AA's current last sale is 132% of the target price of $9.
Nokia Corporation ( NOK ) is +0.09 at $7.12, with 1,123,670 shares traded. NOK's current last sale is 101.71% of the target price of $7.
Tenaris S.A. ( TS ) is -0.18 at $46.08, with 1,014,500 shares traded. TS's current last sale is 94.04% of the target price of $49.
Microsoft Corporation ( MSFT ) is +1.145 at $37.20, with 955,144 shares traded. MSFT's current last sale is 96.62% of the target price of $38.5.
ArcelorMittal ( MT ) is -0.14 at $16.91, with 729,175 shares traded. As reported by Zacks, the current mean recommendation for MT is in the "buy range".
Novo Nordisk A/S ( NVO ) is +0.47 at $38.76, with 705,331 shares traded.NVO is scheduled to provide an earnings report on 1/30/2014, for the fiscal quarter ending Dec2013. The consensus earnings per share forecast is 999 per share, which represents a 38 percent increase over the EPS one Year Ago
Lloyds Banking Group Plc ( LYG ) is -0.08 at $5.48, with 608,495 shares traded. LYG's current last sale is 96.14% of the target price of $5.7.
PowerShares QQQ Trust, Series 1 ( QQQ ) is -0.18 at $88.30, with 427,270 shares traded. This represents a 33.87% increase from its 52 Week Low.
BlackBerry Limited ( BBRY ) is -0.52 at $9.93, with 323,961 shares traded. BBRY's current last sale is 141.86% of the target price of $7.
ARIAD Pharmaceuticals, Inc. ( ARIA ) is -0.19 at $7.33, with 315,612 shares traded. ARIA's current last sale is 97.73% of the target price of $7.5.
Facebook, Inc. ( FB ) is -0.38 at $56.25, with 262,150 shares traded.FB is scheduled to provide an earnings report on 1/29/2014, for the fiscal quarter ending Dec2013. The consensus earnings per share forecast is 0.21 per share, which represents a 9 percent increase over the EPS one Year Ago
Credit Suisse AG ( XIV ) is -0.44 at $35.10, with 261,197 shares traded.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The following are the most active stocks for the pre-market session : Alcoa Inc. ( AA ) is -0.19 at $11.88, with 2,874,445 shares traded. AA's current last sale is 132% of the target price of $9. Over the last four weeks they have had 4 up revisions for the earnings forecast, for the fiscal quarter ending Mar 2014.
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The following are the most active stocks for the pre-market session : Alcoa Inc. ( AA ) is -0.19 at $11.88, with 2,874,445 shares traded. AA's current last sale is 132% of the target price of $9. Novo Nordisk A/S ( NVO ) is +0.47 at $38.76, with 705,331 shares traded.NVO is scheduled to provide an earnings report on 1/30/2014, for the fiscal quarter ending Dec2013.
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The following are the most active stocks for the pre-market session : Alcoa Inc. ( AA ) is -0.19 at $11.88, with 2,874,445 shares traded. AA's current last sale is 132% of the target price of $9. The consensus earnings per share forecast is 999 per share, which represents a 38 percent increase over the EPS one Year Ago Lloyds Banking Group Plc ( LYG ) is -0.08 at $5.48, with 608,495 shares traded.
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The following are the most active stocks for the pre-market session : Alcoa Inc. ( AA ) is -0.19 at $11.88, with 2,874,445 shares traded. AA's current last sale is 132% of the target price of $9. The NASDAQ 100 Pre-Market Indicator is down -4.45 to 3,609.31.
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1203.0
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2014-01-24 00:00:00 UTC
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#PreMarket Primer: Friday, January 24: Growth Fears Drag Down Emerging Markets
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AA
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https://www.nasdaq.com/articles/premarket-primer-friday-january-24-growth-fears-drag-down-emerging-markets-2014-01-24
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nan
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Investors fled from emerging markets this week after poor data from China reignited growth fears.
Outside forces, like China's attempts to get its economy back on track and the possibility that the US Federal Reserve could scale its bond buying program back further at the next policy meeting, caused investors worry that demand for emerging market assets will crumble.
Top News
In other news around the markets:
The FBI issued a warning to US retailers telling them to expect an increase of cyber attacks this year. The malicious software used to steal customer information from Target Corp over the holiday season will likely not be the last of its kind. Hackers using malware which affects point-of-sale systems like cash registers and credit card machines could be on the rise as the software is relatively affordable and has the potential for huge profits. Peace talks in Switzerland about the crisis in Syria hit a stumbling block on Friday after opposition leaders refused to meet with Syrian government officials in person unless they agreed to discuss implementing a transitional government. Since the Syrian government has been firm about Assad remaining in power, the two sides will speak on Friday but from separate rooms. Apple is planning the release of two new smartphones in the second half of 2014, both with larger screens. The new phones, one with a 4.5 inch screen and one rumored to be larger than five inches, are being produced in an effort to keep up with rivals who are currently offering larger smartphones. Reuters reported that activist investor Carl Icahn may have a larger stake in eBay than previously reported. Icahn may have bought nearly a two percent stake in the tech company as he attempts to pressure it into spinning off its payment unit, PayPal.
Asian Markets
Asian markets were mostly lower to finish the week, the Japanese NIKKEI lost 1.94 percent, the South Korean KOSPI fell 0.36 percent and the Hang Seng index was down 1.25 percent. However, China's Shanghai and Shenzhen composites were both higher, up 0.60 and 1.28 percent respectively.
European Markets
European markets were down across the board, the UK's FTSE was down 0.31 percent and the eurozone's STOXX 600 lost 0.60 percent. The German DAX fell 0.39 percent and France's CAC 40 lost 0.57 percent.
Commodities
Energy futures were moderately lower, Brent futures were down 0.43 percent and WTI futures lost 0.07 percent. Gold lost 0.29 percent and silver was down 0.22 percent. Industrial metals were down across the board with zinc posting the largest loss, down 1.85 percent.
Currencies
The euro lost 0.20 percent against the dollar and settled at $1.3668 and the pound gained 0.11 percent against the dollar. The dollar lost 0.36 percent against the yen and gained 0.79 percent against the Australian dollar.
Earnings
Notable earnings released on Thursday included:
Microsoft Corporation (NASDAQ: MSFT ) reported second quarter EPS of $0.78 on revenue of $24.52 billion, compared to last year's EPS of $0.76 on revenue of $21.46 billion. Lockheed Martin Corporation (NYSE: LMT ) reported fourth quarter EPS of $1.50 on revenue of $11.50 billion, compared to last year's EPS of $1.91 on revenue of $12.10 billion. McDonald's Corporation (NYSE: MCD ) reported fourth quarter EPS of $1.40 on revenue of $7.09 billion, compared to last year's EPS of $1.38 on revenue of $6.95 billion. Southwest Airlines Company (NYSE: LUV ) reported fourth quarter EPS of $0.33 on revenue of $4.43 billion, compared to last year's EPS of $0.09 on revenue of $4.17 billion.
Pre-Market Movers
Stocks moving in the Premarket included:
Transocean Ltd. (NYSE: RIG ) rose 0.57 percent in premarket trade after losing 2.99 percent on Thursday. Alcoa Inc. (NYSE: AA ) lost 1.41 percent in premarket trade after gaining 9.33 percent over the past week. Bank of America Corp (NYSE: BAC ) fell 0.53 percent in premarket trade after losing 1.69 percent on Thursday. The Coca-Cola Co (NYSE: KO ) was down 0.46 percent in premarket trade after falling 1.65 percent on Thursday.
Notable earnings releases expected on Friday include:
Procter & Gamble Company (NYSE: PG ) is expected to report second quarter EPS of $1.20 on revenue of $22.35 billion, compared to last year's EPS of $1.22 on revenue of $22.18 billion. Honeywell International Inc. (NYSE: HON ) is expected to report fourth quarter EPS of $1.21 on revenue of $10.19 billion, compared to last year's EPS of $1.10 on revenue of $9.58 billion. Xerox Corporation (NYSE: XRX ) is expected to report fourth quarter EPS of $0.29 on revenue of $5.64 billion, compared to last year's EPS of $0.30 on revenue of $5.92 billion. Kimberly-Clark Corporation (NYSE: KMB ) is expected to report fourth quarter EPS of $1.39 on revenue of $5.28 billion, compared to last year's EPS of $1.37 on revenue of $5.31 billion. Bristol-Myers Squibb Company (NYSE: BMY ) is expected to report fourth quarter EPS of $0.43 on revenue of $4.29 billion, compared to last year's EPS of $0.47 on revenue of $4.19 billion.
Economics
Friday'seconomic calendarwill be relatively quiet with releases including Canadian CPI, British mortgage approvals, Italian retail sales and Spanish PPI.
For a recap of Thursday's market action click .
Tune into Benzinga's pre-market info show with Dennis Dick and Joel Elconin here .
(c) 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Free Trading Education - Check out the free events taking place on Marketfy this week. Spaces are limited. Sign up today.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Alcoa Inc. (NYSE: AA ) lost 1.41 percent in premarket trade after gaining 9.33 percent over the past week. Hackers using malware which affects point-of-sale systems like cash registers and credit card machines could be on the rise as the software is relatively affordable and has the potential for huge profits. Icahn may have bought nearly a two percent stake in the tech company as he attempts to pressure it into spinning off its payment unit, PayPal.
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Alcoa Inc. (NYSE: AA ) lost 1.41 percent in premarket trade after gaining 9.33 percent over the past week. Earnings Notable earnings released on Thursday included: Microsoft Corporation (NASDAQ: MSFT ) reported second quarter EPS of $0.78 on revenue of $24.52 billion, compared to last year's EPS of $0.76 on revenue of $21.46 billion. Notable earnings releases expected on Friday include: Procter & Gamble Company (NYSE: PG ) is expected to report second quarter EPS of $1.20 on revenue of $22.35 billion, compared to last year's EPS of $1.22 on revenue of $22.18 billion.
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Alcoa Inc. (NYSE: AA ) lost 1.41 percent in premarket trade after gaining 9.33 percent over the past week. Asian Markets Asian markets were mostly lower to finish the week, the Japanese NIKKEI lost 1.94 percent, the South Korean KOSPI fell 0.36 percent and the Hang Seng index was down 1.25 percent. Earnings Notable earnings released on Thursday included: Microsoft Corporation (NASDAQ: MSFT ) reported second quarter EPS of $0.78 on revenue of $24.52 billion, compared to last year's EPS of $0.76 on revenue of $21.46 billion.
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Alcoa Inc. (NYSE: AA ) lost 1.41 percent in premarket trade after gaining 9.33 percent over the past week. European Markets European markets were down across the board, the UK's FTSE was down 0.31 percent and the eurozone's STOXX 600 lost 0.60 percent. Gold lost 0.29 percent and silver was down 0.22 percent.
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1204.0
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2014-01-23 00:00:00 UTC
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Pre-Market Most Active for Jan 23, 2014 : NOK, ARIA, EBAY, AA, FB, BBRY, BAC, QQQ, SAP, NFLX, BHP, AMD
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AA
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https://www.nasdaq.com/articles/pre-market-most-active-jan-23-2014-nok-aria-ebay-aa-fb-bbry-bac-qqq-sap-nflx-bhp-amd-2014
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The NASDAQ 100 Pre-Market Indicator is up 2.83 to 3,630.55. The total Pre-Market volume is currently 11,785,756 shares traded.
The following are the most active stocks for the pre-market session :
Nokia Corporation ( NOK ) is -0.35 at $7.35, with 5,685,120 shares traded. RTT News Reports: Nokia Posts Loss In Q4; Stock Down
ARIAD Pharmaceuticals, Inc. ( ARIA ) is +0.68 at $7.39, with 4,666,932 shares traded. ARIA's current last sale is 98.53% of the target price of $7.5.
eBay Inc. ( EBAY ) is +1.04 at $55.45, with 3,348,890 shares traded. As reported by Zacks, the current mean recommendation for EBAY is in the "buy range".
Alcoa Inc. ( AA ) is -0.23 at $11.99, with 1,453,168 shares traded. Over the last four weeks they have had 4 up revisions for the earnings forecast, for the fiscal quarter ending Mar 2014. The consensus EPS forecast is $0.04. AA's current last sale is 133.22% of the target price of $9.
Facebook, Inc. ( FB ) is -1.34 at $56.17, with 1,238,503 shares traded.FB is scheduled to provide an earnings report on 1/29/2014, for the fiscal quarter ending Dec2013. The consensus earnings per share forecast is 0.21 per share, which represents a 9 percent increase over the EPS one Year Ago
BlackBerry Limited ( BBRY ) is -0.11 at $10.67, with 410,054 shares traded. BBRY's current last sale is 152.43% of the target price of $7.
Bank of America Corporation ( BAC ) is -0.04 at $17.11, with 347,620 shares traded. Over the last four weeks they have had 7 up revisions for the earnings forecast, for the fiscal quarter ending Mar 2014. The consensus EPS forecast is $0.3. BAC's current last sale is 95.06% of the target price of $18.
PowerShares QQQ Trust, Series 1 ( QQQ ) is -0.11 at $88.67, with 263,158 shares traded., following a 52-week high recorded in prior regular session.
SAP AG ( SAP ) is -0.71 at $79.35, with 224,438 shares traded. As reported in the last short interest update the days to cover for SAP is 18.075122; this calculation is based on the average trading volume of the stock.
Netflix, Inc. ( NFLX ) is +56.93 at $390.66, with 196,172 shares traded. NFLX's current last sale is 111.62% of the target price of $350.
BHP Billiton Limited ( BHP ) is -0.17 at $65.95, with 187,198 shares traded. As reported by Zacks, the current mean recommendation for BHP is in the "buy range".
Advanced Micro Devices, Inc. ( AMD ) is -0.01 at $3.66, with 174,092 shares traded. Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Mar 2014. The consensus EPS forecast is $-0.01. As reported in the last short interest update the days to cover for AMD is 9.42555; this calculation is based on the average trading volume of the stock.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Alcoa Inc. ( AA ) is -0.23 at $11.99, with 1,453,168 shares traded. AA's current last sale is 133.22% of the target price of $9. RTT News Reports: Nokia Posts Loss In Q4; Stock Down ARIAD Pharmaceuticals, Inc. ( ARIA ) is +0.68 at $7.39, with 4,666,932 shares traded.
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Alcoa Inc. ( AA ) is -0.23 at $11.99, with 1,453,168 shares traded. AA's current last sale is 133.22% of the target price of $9. Over the last four weeks they have had 4 up revisions for the earnings forecast, for the fiscal quarter ending Mar 2014.
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Alcoa Inc. ( AA ) is -0.23 at $11.99, with 1,453,168 shares traded. AA's current last sale is 133.22% of the target price of $9. RTT News Reports: Nokia Posts Loss In Q4; Stock Down ARIAD Pharmaceuticals, Inc. ( ARIA ) is +0.68 at $7.39, with 4,666,932 shares traded.
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AA's current last sale is 133.22% of the target price of $9. Alcoa Inc. ( AA ) is -0.23 at $11.99, with 1,453,168 shares traded. The following are the most active stocks for the pre-market session : Nokia Corporation ( NOK ) is -0.35 at $7.35, with 5,685,120 shares traded.
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1205.0
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2014-01-23 00:00:00 UTC
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After Hours Most Active for Jan 23, 2014 : TSCO, MSFT, ALGN, ARCP, QQQ, COLE, NOK, CX, BCC, RRTS, SBUX, AA
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https://www.nasdaq.com/articles/after-hours-most-active-jan-23-2014-tsco-msft-algn-arcp-qqq-cole-nok-cx-bcc-rrts-sbux-aa
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The NASDAQ 100 After Hours Indicator is up 8.42 to 3,622.18. The total After hours volume is currently 63,598,879 shares traded.
The following are the most active stocks for the after hours session :
Tractor Supply Company ( TSCO ) is unchanged at $71.87, with 14,063,482 shares traded.TSCO is scheduled to provide an earnings report on 1/29/2014, for the fiscal quarter ending Dec2013. The consensus earnings per share forecast is 0.65 per share, which represents a 56 percent increase over the EPS one Year Ago
Microsoft Corporation ( MSFT ) is +1.045 at $37.10, with 6,574,000 shares traded. RTT News Reports: Microsoft Q2 Results Top Estimates
Align Technology, Inc. ( ALGN ) is unchanged at $63.40, with 5,965,676 shares traded.ALGN is scheduled to provide an earnings report on 1/30/2014, for the fiscal quarter ending Dec2013. The consensus earnings per share forecast is 0.43 per share, which represents a 27 percent increase over the EPS one Year Ago
American Realty Capital Properties, Inc. ( ARCP ) is unchanged at $14.21, with 4,648,453 shares traded. As reported in the last short interest update the days to cover for ARCP is 8.410305; this calculation is based on the average trading volume of the stock.
PowerShares QQQ Trust, Series 1 ( QQQ ) is +0.15 at $88.62, with 3,603,462 shares traded. This represents a 34.35% increase from its 52 Week Low.
Cole Real Estate Investments, Inc. ( COLE ) is +0.04 at $15.45, with 2,485,948 shares traded., following a 52-week high recorded in today's regular session.
Nokia Corporation ( NOK ) is -0.01 at $7.02, with 2,466,134 shares traded. RTT News Reports: Stocks Continue To See Notable Weakness In Mid-Day Trading - U.S. Commentary
Cemex S.A.B. de C.V. ( CX ) is +0.0698 at $12.78, with 2,406,321 shares traded. As reported by Zacks, the current mean recommendation for CX is in the "buy range".
Boise Cascade, L.L.C. ( BCC ) is -0.05 at $31.29, with 1,764,455 shares traded. BCC's current last sale is 100.94% of the target price of $31.
Roadrunner Transportation Systems, Inc ( RRTS ) is -0.015 at $28.77, with 1,375,152 shares traded. As reported by Zacks, the current mean recommendation for RRTS is in the "buy range".
Starbucks Corporation ( SBUX ) is +0.71 at $74.10, with 1,366,604 shares traded. RTT News Reports: Starbucks Q1 Profit Tops View; Lifts FY14 EPS Outlook - Quick Facts
Alcoa Inc. ( AA ) is unchanged at $12.07, with 1,003,022 shares traded. Over the last four weeks they have had 4 up revisions for the earnings forecast, for the fiscal quarter ending Mar 2014. The consensus EPS forecast is $0.04. AA's current last sale is 134.11% of the target price of $9.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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RTT News Reports: Starbucks Q1 Profit Tops View; Lifts FY14 EPS Outlook - Quick Facts Alcoa Inc. ( AA ) is unchanged at $12.07, with 1,003,022 shares traded. AA's current last sale is 134.11% of the target price of $9. The following are the most active stocks for the after hours session : Tractor Supply Company ( TSCO ) is unchanged at $71.87, with 14,063,482 shares traded.TSCO is scheduled to provide an earnings report on 1/29/2014, for the fiscal quarter ending Dec2013.
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RTT News Reports: Starbucks Q1 Profit Tops View; Lifts FY14 EPS Outlook - Quick Facts Alcoa Inc. ( AA ) is unchanged at $12.07, with 1,003,022 shares traded. AA's current last sale is 134.11% of the target price of $9. The consensus earnings per share forecast is 0.65 per share, which represents a 56 percent increase over the EPS one Year Ago Microsoft Corporation ( MSFT ) is +1.045 at $37.10, with 6,574,000 shares traded.
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RTT News Reports: Starbucks Q1 Profit Tops View; Lifts FY14 EPS Outlook - Quick Facts Alcoa Inc. ( AA ) is unchanged at $12.07, with 1,003,022 shares traded. AA's current last sale is 134.11% of the target price of $9. The consensus earnings per share forecast is 0.65 per share, which represents a 56 percent increase over the EPS one Year Ago Microsoft Corporation ( MSFT ) is +1.045 at $37.10, with 6,574,000 shares traded.
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RTT News Reports: Starbucks Q1 Profit Tops View; Lifts FY14 EPS Outlook - Quick Facts Alcoa Inc. ( AA ) is unchanged at $12.07, with 1,003,022 shares traded. AA's current last sale is 134.11% of the target price of $9. The consensus earnings per share forecast is 0.65 per share, which represents a 56 percent increase over the EPS one Year Ago Microsoft Corporation ( MSFT ) is +1.045 at $37.10, with 6,574,000 shares traded.
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1206.0
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2014-01-22 00:00:00 UTC
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Alcoa Shoots Up on JPMorgan Upgrade - Analyst Blog
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https://www.nasdaq.com/articles/alcoa-shoots-up-on-jpmorgan-upgrade-analyst-blog-2014-01-22
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Shares of aluminum giant Alcoa ( AA ) screamed higher yesterday after JPMorgan ( JPM ) raised its rating citing tightening global aluminum markets and higher regional aluminum premiums that would provide support to its earnings.
JPMorgan lifted Alcoa to "Overweight" from "Neutral" and increased its price target on the shares to $15 from $9 on expectations of tighter global supplies of aluminum following capacity reductions. The firm also nearly doubled the company's earnings estimate for 2014 to 78 cents per share from 40 cents per share.
Alcoa's shares shot up as much as 8.4% in the trading session yesterday to touch a fresh 52-week high of $12.31. The stock eventually closed at $12.13, gaining 6.8%. Alcoa has racked up a one-year return of around 37% and its shares are up roughly 14% so far this year.
Alcoa has been grappling with weak aluminum pricing. London Metal Exchange (LME) aluminum prices dropped to a four-year low during fourth-quarter 2013 given the oversupply of the metal in the market, evidenced by large aluminum inventories in LME warehouses. LME cash price fell 7% in the fourth quarter, hurting the company's sales in the process.
Alcoa has taken up a number of restructuring measures (including closure of smelters) and is aggressively pursuing cost-cutting actions amid a weak pricing environment.
Alcoa swung to a loss in the fourth quarter, reported on Jan 9, on hefty goodwill impairment charges. Adjusted earnings missed the Zacks Consensus Estimate. Sales fell on weak aluminum pricing but beat expectations. The company expects aluminum demand to rise 7% this year.
Alcoa is witnessing strength in aerospace and automotive markets. The company sees significant growth of aluminum use in the auto sector this year as automakers increasingly look for the metal as a cost-effective mean to boost performance, safety, durability and fuel efficiency of their vehicles.
However, Alcoa is still witnessing softness across building and construction and commercial transportation markets. Moreover, weakness in non-residential building and construction market is expected to persist in Europe.
Alcoa is a Zacks Rank #3 (Hold) stock.
Other companies in the mining industry worth considering include General Moly, Inc. ( GMO ) and Stillwater Mining Co. ( SWC ) with both holding a Zacks Rank #1 (Strong Buy).
ALCOA INC (AA): Free Stock Analysis Report
GENERAL MOLY IN (GMO): Free Stock Analysis Report
JPMORGAN CHASE (JPM): Free Stock Analysis Report
STILLWATER MNG (SWC): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Shares of aluminum giant Alcoa ( AA ) screamed higher yesterday after JPMorgan ( JPM ) raised its rating citing tightening global aluminum markets and higher regional aluminum premiums that would provide support to its earnings. ALCOA INC (AA): Free Stock Analysis Report GENERAL MOLY IN (GMO): Free Stock Analysis Report JPMORGAN CHASE (JPM): Free Stock Analysis Report STILLWATER MNG (SWC): Free Stock Analysis Report To read this article on Zacks.com click here. JPMorgan lifted Alcoa to "Overweight" from "Neutral" and increased its price target on the shares to $15 from $9 on expectations of tighter global supplies of aluminum following capacity reductions.
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Shares of aluminum giant Alcoa ( AA ) screamed higher yesterday after JPMorgan ( JPM ) raised its rating citing tightening global aluminum markets and higher regional aluminum premiums that would provide support to its earnings. ALCOA INC (AA): Free Stock Analysis Report GENERAL MOLY IN (GMO): Free Stock Analysis Report JPMORGAN CHASE (JPM): Free Stock Analysis Report STILLWATER MNG (SWC): Free Stock Analysis Report To read this article on Zacks.com click here. Other companies in the mining industry worth considering include General Moly, Inc. ( GMO ) and Stillwater Mining Co. ( SWC ) with both holding a Zacks Rank #1 (Strong Buy).
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Shares of aluminum giant Alcoa ( AA ) screamed higher yesterday after JPMorgan ( JPM ) raised its rating citing tightening global aluminum markets and higher regional aluminum premiums that would provide support to its earnings. ALCOA INC (AA): Free Stock Analysis Report GENERAL MOLY IN (GMO): Free Stock Analysis Report JPMORGAN CHASE (JPM): Free Stock Analysis Report STILLWATER MNG (SWC): Free Stock Analysis Report To read this article on Zacks.com click here. JPMorgan lifted Alcoa to "Overweight" from "Neutral" and increased its price target on the shares to $15 from $9 on expectations of tighter global supplies of aluminum following capacity reductions.
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ALCOA INC (AA): Free Stock Analysis Report GENERAL MOLY IN (GMO): Free Stock Analysis Report JPMORGAN CHASE (JPM): Free Stock Analysis Report STILLWATER MNG (SWC): Free Stock Analysis Report To read this article on Zacks.com click here. Shares of aluminum giant Alcoa ( AA ) screamed higher yesterday after JPMorgan ( JPM ) raised its rating citing tightening global aluminum markets and higher regional aluminum premiums that would provide support to its earnings. Alcoa has been grappling with weak aluminum pricing.
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1207.0
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2014-01-22 00:00:00 UTC
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Stock Market News for January 22, 2014 - Market News
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https://www.nasdaq.com/articles/stock-market-news-for-january-22-2014-market-news-2014-01-22
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Earnings results and forecasts from Dow components dragged the blue-chip index lower on Tuesday, while S&P 500 and Nasdaq ended in the green because of other factors. Material stocks ensured that the S&P 500 could avoid its third-straight decline. The day was devoid of any major economic releases but for IMF raising the global economic growth estimate.
For a look at the issues currently facing the markets, make sure to read today's Ahead of Wall Street article
The Dow Jones Industrial Average (DJI) dropped 0.3% to 16,414.44. On the other hand, the Standard & Poor 500 (S&P 500) gained 0.3% to close at 1,843.80. The tech-laden Nasdaq Composite Index also finished in the green and jumped 0.7% to 4,225.76. The fear-gauge CBOE Volatility Index (VIX) gained 3.5% to settle at 12.87. Composite volume on the New York Stock Exchange was 3.8 billion; about two stocks gained for every one that declined.
Markets were closed on Monday for Martin Luther King Day which meant Tuesday was the first trading session of the week. Benchmarks had a choppy run all through the day with the Dow swinging between meager and solid losses and Nasdaq moving between modest and decent gains. As for S&P 500, it moved between red and green territory.
It was earnings numbers that mostly provided direction to the Dow. However, performance results and forecasts were more of a disappointment. Dow components Verizon Communications Inc. (NYSE: VZ ), The Travelers Companies, Inc. (NYSE: TRV ) and Johnson & Johnson (NYSE: JNJ ) dropped 1.3%, 1.7% and 1.1%, respectively, after announcing earnings results and forecasts.
Healthcare behemoth Johnson & Johnson reported fourth-quarter 2013 earnings (excluding special items) of $1.24 per share, ahead of the consensus estimate of $1.20 per share. However, the company's 2014 earnings projection of $5.75 - $5.85 per share was below market estimates.
The Travelers Companies too reported earnings beat in its fourth quarter but margins were a worrying factor. The company reported lower underlying underwriting margins in some segments. Verizon tanked after reporting results and announcing that it will acquire Intel Corporation's (NASDAQ: INTC ) pay-television startup.
The S&P 500, however, secured a seat in the green, thanks to gains in the material sector. Materials Select Sector SPDR (XLB) gained 0.6% and led the gains among the S&P 500 industry groups. The upward move was largely aided by a 6.6% gain in The Dow Chemical Company (NYSE: DOW ) after reports that Daniel Loeb, activist investor and hedge fund manager, has bought stake in the company.
Also, a rating and target price upgrade from JPMorgan helped Alcoa Inc. (NYSE: AA ) move 6.8% higher. Among other gainers, Monsanto Company (NYSE: MON ), Praxair Inc. (NYSE: PX ) and PPG Industries Inc. (NYSE: PPG ) improved 0.3%, 0.6% and 0.3%, respectively.
Separately, for the first time in about two years, the International Monetary Fund upped its global economic growth forecast. It forecasted 3.7% growth in the global economy this year, up by 0.1 percentage point from its October forecast. For 2015, IMF projected a 3.9% jump. IMF's chief economist Olivier Blanchard said: "The basic reason behind the stronger recovery is that the brakes to the recovery are progressively being loosened".
This was the first trading session of the week and Dow was the only benchmark to start on a losing note. Incidentally, blue-chip index was the sole gainer last week, which was also its first weekly gain this year. The S&P 500 and Nasdaq closed the week with losses of 0.2% and 0.6%, respectively, but Dow rose 0.1%.
ALCOA INC (AA): Free Stock Analysis Report
DOW CHEMICAL (DOW): Free Stock Analysis Report
INTEL CORP (INTC): Free Stock Analysis Report
JOHNSON & JOHNS (JNJ): Free Stock Analysis Report
MONSANTO CO-NEW (MON): Free Stock Analysis Report
PPG INDS INC (PPG): Free Stock Analysis Report
PRAXAIR INC (PX): Free Stock Analysis Report
TRAVELERS COS (TRV): Free Stock Analysis Report
VERIZON COMM (VZ): Free Stock Analysis Report
To read this article on Zacks.com click here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Also, a rating and target price upgrade from JPMorgan helped Alcoa Inc. (NYSE: AA ) move 6.8% higher. ALCOA INC (AA): Free Stock Analysis Report DOW CHEMICAL (DOW): Free Stock Analysis Report INTEL CORP (INTC): Free Stock Analysis Report JOHNSON & JOHNS (JNJ): Free Stock Analysis Report MONSANTO CO-NEW (MON): Free Stock Analysis Report PPG INDS INC (PPG): Free Stock Analysis Report PRAXAIR INC (PX): Free Stock Analysis Report TRAVELERS COS (TRV): Free Stock Analysis Report VERIZON COMM (VZ): Free Stock Analysis Report To read this article on Zacks.com click here. Earnings results and forecasts from Dow components dragged the blue-chip index lower on Tuesday, while S&P 500 and Nasdaq ended in the green because of other factors.
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ALCOA INC (AA): Free Stock Analysis Report DOW CHEMICAL (DOW): Free Stock Analysis Report INTEL CORP (INTC): Free Stock Analysis Report JOHNSON & JOHNS (JNJ): Free Stock Analysis Report MONSANTO CO-NEW (MON): Free Stock Analysis Report PPG INDS INC (PPG): Free Stock Analysis Report PRAXAIR INC (PX): Free Stock Analysis Report TRAVELERS COS (TRV): Free Stock Analysis Report VERIZON COMM (VZ): Free Stock Analysis Report To read this article on Zacks.com click here. Also, a rating and target price upgrade from JPMorgan helped Alcoa Inc. (NYSE: AA ) move 6.8% higher. Dow components Verizon Communications Inc. (NYSE: VZ ), The Travelers Companies, Inc. (NYSE: TRV ) and Johnson & Johnson (NYSE: JNJ ) dropped 1.3%, 1.7% and 1.1%, respectively, after announcing earnings results and forecasts.
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ALCOA INC (AA): Free Stock Analysis Report DOW CHEMICAL (DOW): Free Stock Analysis Report INTEL CORP (INTC): Free Stock Analysis Report JOHNSON & JOHNS (JNJ): Free Stock Analysis Report MONSANTO CO-NEW (MON): Free Stock Analysis Report PPG INDS INC (PPG): Free Stock Analysis Report PRAXAIR INC (PX): Free Stock Analysis Report TRAVELERS COS (TRV): Free Stock Analysis Report VERIZON COMM (VZ): Free Stock Analysis Report To read this article on Zacks.com click here. Also, a rating and target price upgrade from JPMorgan helped Alcoa Inc. (NYSE: AA ) move 6.8% higher. Dow components Verizon Communications Inc. (NYSE: VZ ), The Travelers Companies, Inc. (NYSE: TRV ) and Johnson & Johnson (NYSE: JNJ ) dropped 1.3%, 1.7% and 1.1%, respectively, after announcing earnings results and forecasts.
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Also, a rating and target price upgrade from JPMorgan helped Alcoa Inc. (NYSE: AA ) move 6.8% higher. ALCOA INC (AA): Free Stock Analysis Report DOW CHEMICAL (DOW): Free Stock Analysis Report INTEL CORP (INTC): Free Stock Analysis Report JOHNSON & JOHNS (JNJ): Free Stock Analysis Report MONSANTO CO-NEW (MON): Free Stock Analysis Report PPG INDS INC (PPG): Free Stock Analysis Report PRAXAIR INC (PX): Free Stock Analysis Report TRAVELERS COS (TRV): Free Stock Analysis Report VERIZON COMM (VZ): Free Stock Analysis Report To read this article on Zacks.com click here. Dow components Verizon Communications Inc. (NYSE: VZ ), The Travelers Companies, Inc. (NYSE: TRV ) and Johnson & Johnson (NYSE: JNJ ) dropped 1.3%, 1.7% and 1.1%, respectively, after announcing earnings results and forecasts.
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1208.0
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2014-01-22 00:00:00 UTC
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#PreMarket Primer: Wednesday, January 22: Syrian Peace Talks Kick Off Surrounded By Doubt
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https://www.nasdaq.com/articles/premarket-primer-wednesday-january-22-syrian-peace-talks-kick-surrounded-doubt-2014-01-22
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As Syrian peace talks got underway on Wednesday, many skeptics said the meeting would have little impact as several key players will not be included in the negotiations.
Most Syrian rebels on the ground have snubbed the peace conference, leaving only an opposition group which has been living in exile to attend. Iran is also being left out of the negotiations despite the nation's involvement in helping back President Bashar al-Assad's regime.
A number of war crimes have allegedly been committed by Assad's government, adding another layer of difficulty to the talks.
Top News
In other news around the markets:
The ongoing anti-government protests in Ukraine dragged on this week as angry Ukranians called for President Viktor Yanukovych's removal from office. The protests turned violent over the weekend as protestors threw stones and launched fireworks at riot police in the nation's capital. The US cyber security firm CrowdStrike announced that it had evidence that the Russian government had spied on American, European and Asian companies in order to help the nation's industries maintain their competitiveness. The firm says several energy and technology firms were the victims of cyber attacks which resulted in the loss of intellectual property. A state of emergency has been declared in and around Thailand's capital, Bangkok, as the country suffers through protests which have turned violent over the past two months. On Wednesday, a pro-government leader was shot and wounded in his arm and leg in the northeastern town of Udon Thani. Europe's earnings season has gotten off to a poor start as several of the region's largest companies admit to struggling to cope with the bloc's sluggish, uneven economic recovery. Companies like Royal Dutch Shell, Deutsche Bank and SAP all warned investors about low profit expectations in the short term.
Asian Markets
Asian markets were mostly higher, the Japanese NIKKEI was up 0.16 percent, China's Shanghai composite gained 2.16 percent and the Shenzhen composite rose 2.59 percent. The South Korean KOSPI was up 0.33 percent and the Hang Seng index gained 0.21 percent.
European Markets
European markets were up across the board, the UK's FTSE rose 0.34 percent and the eurozone's STOXX 600 gained 0.29 percent. The Spanish IBEX gained 0.47 percent and Italy's MIB rose 0.61 percent.
Commodities
Brent futures for March delivery gained 0.51 percent but WTI futures were flat. Gold lost 0.18 percent and silver was down 0.28 percent. Industrial metals were mixed with aluminum down 0.44 percent and zinc up 0.60 percent.
Currencies
The euro lost 0.15 percent against the dollar and the pound was down 0.11 percent against the greenback. The dollar fell 0.02 percent against the yen and 0.81 percent against the Australian dollar.
Earnings
Notable earnings released on Tuesday included:
Johnson & Johnson (NYSE: JNJ ) reported fourth quarter EPS of $1.24 on revenue of $18.40 billion, compared to last year's EPS of $1.19 on revenue of $17.56 billion. Verizon Communications Inc. (NYSE: VZ ) reported fourth quarter EPS of $0.66 on revenue of $31.10 billion, compared to last year's EPS of $0.45 on revenue of $30.04 billion. The Travelers Company (NYSE: TRV ) reported fourth quarter EPS of $2.68 on revenue of $6.74 billion, compared to last year's EPS of $2.22 on revenue of $5.70 billion. Delta Air Lines Inc. (NYSE: DAL ) reported fourth quarter EPS of $0.65 on revenue of $9.08 billion, compared to last year's EPS of $0.28 on revenue of $8.60 billion. Halliburton Company (NYSE: HAL ) reported fourth quarter EPS of $0.90 on revenue of $7.64 billion compared to last year's EPS of $0.63on revenue of $7.29 billion.
Pre-Market Movers
Stocks moving in the Premarket included:
United States Steel Corp. (NYSE: X ) gained 2.17 percent in premarket trade after falling 8.57 percent over the past week. Carnival Corp (NYSE: CCL ) gained 1.37 percent in premarket trade after losing 1.28 percent on Tuesday. Alcoa Inc. (NYSE: AA ) rose 0.82 percent in premarket trade after gaining 17.54 percent over the past week. Delta Air Lines Inc. (NYSE: DAL ) gained 0.69 percent in premarket trade after rising 3.25 percent on Tuesday. International Business Machines (NYSE: IBM ) lost 3.20 percent in premarket trade after rising 1.35 percent over the past five days. Oracle Corp (NYSE: ORCL ) fell 1.10 percent in premarket trade after losing 0.26 percent on Tuesday.
Notable earnings releases expected on Wednesday include:
eBay Inc. (NASDAQ: EBAY ) is expected to report fourth quarter EPS of $0.63 on revenue of $3.90 billion, compared to last year's EPS of $0.55 on revenue of $3.40 billion. Netflix, Inc. (NASDAQ: NFLX ) is expected to report fourth quarter EPS of $0.65 on revenue of $1.17 billion, compared to last year's EPS of $0.13 on revenue of $945.24 million. United Technologies Corporation (NYSE: UTX ) is expected to report fourth quarter EPS of $1.52 on revenue of $17.09 billion, compared to last year's EPS of $1.04 on revenue of $16.44 billion. Western Digital Corporation (NASDAQ: WDC ) is expected to report second quarter EPS of $2.07 on revenue of $3.84 billion, compared to last year's EPS of $2.09 on revenue of $3.82 billion.
Economics
Wednesday'seconomic calendarwill include the US Redbook, the British unemployment rate, Spain's trade balance and Chinese manufacturing PMI.
Tune into Benzinga's pre-market info show with Dennis Dick and Joel Elconin here .
(c) 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Alcoa Inc. (NYSE: AA ) rose 0.82 percent in premarket trade after gaining 17.54 percent over the past week. The US cyber security firm CrowdStrike announced that it had evidence that the Russian government had spied on American, European and Asian companies in order to help the nation's industries maintain their competitiveness. Europe's earnings season has gotten off to a poor start as several of the region's largest companies admit to struggling to cope with the bloc's sluggish, uneven economic recovery.
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Alcoa Inc. (NYSE: AA ) rose 0.82 percent in premarket trade after gaining 17.54 percent over the past week. Earnings Notable earnings released on Tuesday included: Johnson & Johnson (NYSE: JNJ ) reported fourth quarter EPS of $1.24 on revenue of $18.40 billion, compared to last year's EPS of $1.19 on revenue of $17.56 billion. Delta Air Lines Inc. (NYSE: DAL ) reported fourth quarter EPS of $0.65 on revenue of $9.08 billion, compared to last year's EPS of $0.28 on revenue of $8.60 billion.
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Alcoa Inc. (NYSE: AA ) rose 0.82 percent in premarket trade after gaining 17.54 percent over the past week. Earnings Notable earnings released on Tuesday included: Johnson & Johnson (NYSE: JNJ ) reported fourth quarter EPS of $1.24 on revenue of $18.40 billion, compared to last year's EPS of $1.19 on revenue of $17.56 billion. Pre-Market Movers Stocks moving in the Premarket included: United States Steel Corp. (NYSE: X ) gained 2.17 percent in premarket trade after falling 8.57 percent over the past week.
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Alcoa Inc. (NYSE: AA ) rose 0.82 percent in premarket trade after gaining 17.54 percent over the past week. Gold lost 0.18 percent and silver was down 0.28 percent. Delta Air Lines Inc. (NYSE: DAL ) gained 0.69 percent in premarket trade after rising 3.25 percent on Tuesday.
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1209.0
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2014-01-22 00:00:00 UTC
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After Hours Most Active for Jan 22, 2014 : EBAY, QQQ, NFLX, BAC, EXEL, AVP, AA, FCX, COLE, MSFT, XOM, GILD
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https://www.nasdaq.com/articles/after-hours-most-active-jan-22-2014-ebay-qqq-nflx-bac-exel-avp-aa-fcx-cole-msft-xom-gild
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The NASDAQ 100 After Hours Indicator is up 12.06 to 3,639.78. The total After hours volume is currently 34,592,819 shares traded.
The following are the most active stocks for the after hours session :
eBay Inc. ( EBAY ) is +4.59 at $59.00, with 8,328,714 shares traded. RTT News Reports: EBay Q4 13 Earnings Conference Call At 5:00 PM ET
PowerShares QQQ Trust, Series 1 ( QQQ ) is +0.2 at $89.01, with 2,973,559 shares traded., following a 52-week high recorded in today's regular session.
Netflix, Inc. ( NFLX ) is +57.02 at $390.75, with 2,333,921 shares traded. RTT News Reports: Netflix Q4 13 Earnings Conference Call At 5:00 PM ET
Bank of America Corporation ( BAC ) is +0.02 at $17.17, with 1,891,041 shares traded. Over the last four weeks they have had 7 up revisions for the earnings forecast, for the fiscal quarter ending Mar 2014. The consensus EPS forecast is $0.3. BAC's current last sale is 95.39% of the target price of $18.
Exelixis, Inc. ( EXEL ) is -0.24 at $7.80, with 943,855 shares traded. As reported in the last short interest update the days to cover for EXEL is 33.829557; this calculation is based on the average trading volume of the stock.
Avon Products, Inc. ( AVP ) is unchanged at $16.46, with 932,767 shares traded. AVP's current last sale is 78.38% of the target price of $21.
Alcoa Inc. ( AA ) is +0.08 at $12.30, with 826,776 shares traded. Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Mar 2014. The consensus EPS forecast is $0.03. AA's current last sale is 136.67% of the target price of $9.
Freeport-McMoran Copper & Gold, Inc. ( FCX ) is -0.02 at $34.50, with 808,875 shares traded. Over the last four weeks they have had 7 up revisions for the earnings forecast, for the fiscal quarter ending Dec 2013. The consensus EPS forecast is $0.81. RTT News Reports: Freeport-McMoRan Q4 Profit Falls On Charges, Lower Prices
Cole Real Estate Investments, Inc. ( COLE ) is +0.0239 at $15.21, with 739,442 shares traded. COLE's current last sale is 108.67% of the target price of $14.
Microsoft Corporation ( MSFT ) is -0.0072 at $35.92, with 733,581 shares traded.MSFT is scheduled to provide an earnings report on 1/23/2014, for the fiscal quarter ending Dec2013. The consensus earnings per share forecast is 0.67 per share, which represents a 81 percent increase over the EPS one Year Ago
Exxon Mobil Corporation ( XOM ) is unchanged at $97.88, with 668,143 shares traded. XOM's current last sale is 93.22% of the target price of $105.
Gilead Sciences, Inc. ( GILD ) is -0.0164 at $82.16, with 592,868 shares traded., following a 52-week high recorded in today's regular session.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Alcoa Inc. ( AA ) is +0.08 at $12.30, with 826,776 shares traded. AA's current last sale is 136.67% of the target price of $9. RTT News Reports: Netflix Q4 13 Earnings Conference Call At 5:00 PM ET Bank of America Corporation ( BAC ) is +0.02 at $17.17, with 1,891,041 shares traded.
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Alcoa Inc. ( AA ) is +0.08 at $12.30, with 826,776 shares traded. AA's current last sale is 136.67% of the target price of $9. RTT News Reports: EBay Q4 13 Earnings Conference Call At 5:00 PM ET PowerShares QQQ Trust, Series 1 ( QQQ ) is +0.2 at $89.01, with 2,973,559 shares traded., following a 52-week high recorded in today's regular session.
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Alcoa Inc. ( AA ) is +0.08 at $12.30, with 826,776 shares traded. AA's current last sale is 136.67% of the target price of $9. RTT News Reports: Netflix Q4 13 Earnings Conference Call At 5:00 PM ET Bank of America Corporation ( BAC ) is +0.02 at $17.17, with 1,891,041 shares traded.
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AA's current last sale is 136.67% of the target price of $9. Alcoa Inc. ( AA ) is +0.08 at $12.30, with 826,776 shares traded. RTT News Reports: Netflix Q4 13 Earnings Conference Call At 5:00 PM ET Bank of America Corporation ( BAC ) is +0.02 at $17.17, with 1,891,041 shares traded.
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1210.0
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2014-01-21 00:00:00 UTC
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Mid-Afternoon Market Update: Markets Recover as Coal Names Drop
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AA
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https://www.nasdaq.com/articles/mid-afternoon-market-update-markets-recover-coal-names-drop-2014-01-21
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nan
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nan
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Toward the end of trading Tuesday, the Dow traded down 0.29 percent to 16,410.22 while the NASDAQ rose 0.50 percent to 4,218.52. The S&P also rose, gaining 0.17 percent to 1,841.20.
Top Headline Verizon Communications (NYSE: VZ ) swung to a profit in the fourth quarter.
Verizon posted a quarterly profit of $5.07 billion, or $1.76 per share, versus a year-ago loss of $4.23 billion, or $1.48 per share. Its adjusted earnings climbed to $0.66 per share from $0.38 per share.
Its revenue surged to $31.07 billion from $30.05 billion. However, analysts were estimating earnings of $0.62 per share on revenue of $31.04 billion.
Equities Trading UP Signature Bank (NASDAQ: SBNY ) shot up 13.09 percent to $124.51 as the company reported upbeat Q4 earnings.
Shares of Liquidity Services (NASDAQ: LQDT ) got a boost, shooting up 7.60 percent to $23.22 after the company received follow-on contract from the US Defense Logistics Agency.
Alcoa (NYSE: AA ) was also on the rise, gaining 6.60 percent to $12.12 after the company caught an upgrade from JP Morgan to Overweight, while bumping its price target to $15.
Equities Trading DOWN Shares of Expedia (NASDAQ: EXPE ) were down 4.16 percent to $67.75. Search Metrics reported that Expedia may have lost 25% of their search visibility in Google.
Walter Energy (NYSE: WLT ) was down as well, dropping 7.16 percent to $12.96, possibly linked to the cut in production outlook from Arch Coal (NYSE: ACI ) earlier in the day.
FireEye (NASDAQ: FEYE ) was down, falling 5.38 percent to $69.61 after JP Morgan downgraded the stock from Overweight to Neutral.
Commodities In commodity news, oil traded up 0.58 percent to $95.14, while gold traded down 0.80 percent to $1,241.90.
Silver traded down 1.94 percent Tuesday to $19.93, while copper rose 0.16 percent to $3.35.
Eurozone European shares were mixed today. The Spanish Ibex Index dropped 0.92 percent, while Italy's FTSE MIB Index climbed 0.11 percent. Meanwhile, the German DAX surged 0.15 percent and the French CAC 40 jumped 0.02 percent while U.K. shares dropped 0.04 percent.
Economics On the economics calendar Tuesday, there is no important data due out.
(c) 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Alcoa (NYSE: AA ) was also on the rise, gaining 6.60 percent to $12.12 after the company caught an upgrade from JP Morgan to Overweight, while bumping its price target to $15. Equities Trading UP Signature Bank (NASDAQ: SBNY ) shot up 13.09 percent to $124.51 as the company reported upbeat Q4 earnings. Shares of Liquidity Services (NASDAQ: LQDT ) got a boost, shooting up 7.60 percent to $23.22 after the company received follow-on contract from the US Defense Logistics Agency.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Alcoa (NYSE: AA ) was also on the rise, gaining 6.60 percent to $12.12 after the company caught an upgrade from JP Morgan to Overweight, while bumping its price target to $15. Toward the end of trading Tuesday, the Dow traded down 0.29 percent to 16,410.22 while the NASDAQ rose 0.50 percent to 4,218.52.
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Alcoa (NYSE: AA ) was also on the rise, gaining 6.60 percent to $12.12 after the company caught an upgrade from JP Morgan to Overweight, while bumping its price target to $15. Toward the end of trading Tuesday, the Dow traded down 0.29 percent to 16,410.22 while the NASDAQ rose 0.50 percent to 4,218.52. Commodities In commodity news, oil traded up 0.58 percent to $95.14, while gold traded down 0.80 percent to $1,241.90.
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Alcoa (NYSE: AA ) was also on the rise, gaining 6.60 percent to $12.12 after the company caught an upgrade from JP Morgan to Overweight, while bumping its price target to $15. Verizon posted a quarterly profit of $5.07 billion, or $1.76 per share, versus a year-ago loss of $4.23 billion, or $1.48 per share. Its adjusted earnings climbed to $0.66 per share from $0.38 per share.
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1211.0
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2014-01-21 00:00:00 UTC
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Massena East Shutdown Will Further Reduce Alcoa's Smelting Capacity And Revenues
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AA
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https://www.nasdaq.com/articles/massena-east-shutdown-will-further-reduce-alcoas-smelting-capacity-and-revenues-2014-01-21
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nan
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nan
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Alcoa's ( AA ) has announced that it is permanently closing down the remaining two potlines at its Massena East aluminum smelter in New York because they are not competitive anymore. This facility has three potlines, one of which has already been permanently shuttered in August last year.
The latest shutdown will reduce Alcoa's smelting capacity by 84,000 tonnes, in addition to the huge capacity already lying idle due to lack of demand and an unfavorable pricing environment. The company had announced a review of 460,000 tonnes of smelting capacity last year and the East Massena shutdown is a part of that.
The shutdown will also help Alcoa reach its stated goal of lowering its position on the global aluminum cost curve to the 38th percentile by 2016. While there will be an impact on the company's sales figures, the net profit may get a slight boost due to a greater reduction in expenses relative to the decrease in revenues.
See Full Analysis for Alcoa Here
Importance Of Aluminum Prices For Alcoa
Alcoa is organized into four business segments: Alumina, which mines bauxite and processes it into the precursor to aluminum; Primary Metals, which smelts aluminum; Flat-rolled Products, which makes sheets used in beverage cans as well as airplane wings and car parts; and Engineered Products and Solutions, which makes aerospace fasteners, turbine blades and truck wheels. While the Flat-rolled and Engineered Products and Solutions divisions produce value-added products and thus generate higher margins, a significant proportion of Alcoa's revenues still comes from the Alumina and Primary Metals divisions. This makes its earnings highly sensitive to aluminum prices. While the company is trying to reshape its business towards the downstream value-added segments, the structural shift is likely to take time. Till then, its earnings and business strategy will continue to remain sensitive to global aluminum prices.
Unfavorable Aluminum Prices And Reduced Demand
Aluminum prices were on a constant decline in 2013. The price per tonne dropped steadily from $2,100 at the beginning of 2013 to $1,700 towards the end of the year. (( LME Aluminum Price Graph , LME))
The European debt crisis and slowing Chinese growth have contributed to the decline in aluminum demand and its prices over the last few quarters. The long term expectations for these factors remain largely unchanged, so weakness in prices is expected to persist in the foreseeable future.
One factor that might explain falling prices is the persistently high aluminum inventory relative to demand, which may be keeping a lid on London Metal Exchange (LME) prices for aluminum. While LME prices are not the actual realized prices for Alcoa, they do indicate a broader trend in global aluminum prices. Efforts by companies like Alcoa and Rusal to provide a cushion to prices by cutting down smelting capacity have been undermined by Chinese smelters which kept adding capacity. Chinese smelters were encouraged to add capacity due to state intervention in the form of provision of subsidies or renegotiated power contracts. (( Alcoa, Rusal's Aluminum Production Cuts Not Enough With China Smelting , Metal Miner))
After The East Massena Shutdown
Once the shutdown is complete, Alcoa will have a total aluminum smelting capacity of 3,950,000 tonnes. Of this 655,000 will be idle. The idle capacity is expected to increase further because of the 460,000 tonnes which were put under review last year, closure or curtailment of 361,000 tonnes has been announced so far.
Alcoa is expected to make further progress towards its target of lowering its position on the global aluminum production cost curve to 38th percentile by 2016. By the end of 2013, the company had reached 43th percentile which represents an 8 point reduction since 2010. ((Alcoa Q4 2013 Earnings Presentation, Alcoa Website))
Alcoa will have to record restructuring charges worth $60-70 million for the first quarter of 2014, of which around 40% will be non-cash.
We have a Trefis price estimate for Alcoa of $7.
See More at Trefis | View Interactive S&P Capital IQ Analyses (Powered by Trefis)
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Alcoa's ( AA ) has announced that it is permanently closing down the remaining two potlines at its Massena East aluminum smelter in New York because they are not competitive anymore. While there will be an impact on the company's sales figures, the net profit may get a slight boost due to a greater reduction in expenses relative to the decrease in revenues. Chinese smelters were encouraged to add capacity due to state intervention in the form of provision of subsidies or renegotiated power contracts.
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Alcoa's ( AA ) has announced that it is permanently closing down the remaining two potlines at its Massena East aluminum smelter in New York because they are not competitive anymore. The company had announced a review of 460,000 tonnes of smelting capacity last year and the East Massena shutdown is a part of that. See Full Analysis for Alcoa Here Importance Of Aluminum Prices For Alcoa Alcoa is organized into four business segments: Alumina, which mines bauxite and processes it into the precursor to aluminum; Primary Metals, which smelts aluminum; Flat-rolled Products, which makes sheets used in beverage cans as well as airplane wings and car parts; and Engineered Products and Solutions, which makes aerospace fasteners, turbine blades and truck wheels.
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Alcoa's ( AA ) has announced that it is permanently closing down the remaining two potlines at its Massena East aluminum smelter in New York because they are not competitive anymore. See Full Analysis for Alcoa Here Importance Of Aluminum Prices For Alcoa Alcoa is organized into four business segments: Alumina, which mines bauxite and processes it into the precursor to aluminum; Primary Metals, which smelts aluminum; Flat-rolled Products, which makes sheets used in beverage cans as well as airplane wings and car parts; and Engineered Products and Solutions, which makes aerospace fasteners, turbine blades and truck wheels. While LME prices are not the actual realized prices for Alcoa, they do indicate a broader trend in global aluminum prices.
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Alcoa's ( AA ) has announced that it is permanently closing down the remaining two potlines at its Massena East aluminum smelter in New York because they are not competitive anymore. This makes its earnings highly sensitive to aluminum prices. While LME prices are not the actual realized prices for Alcoa, they do indicate a broader trend in global aluminum prices.
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1212.0
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2014-01-16 00:00:00 UTC
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Alcoa to Shut Two Potlines at Massena East - Analyst Blog
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AA
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https://www.nasdaq.com/articles/alcoa-to-shut-two-potlines-at-massena-east-analyst-blog-2014-01-16
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nan
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nan
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Aluminum giant Alcoa Inc. ( AA ) announced that it will permanently shut down the remaining two potlines at its Massena East smelter in New York in the first quarter of 2014. The step has been taken by Alcoa as the potlines were no longer competitive.
The move will reduce Alcoa's smelting capacity by 84,000 tons. The company's Massena West facility will not be affected and Alcoa will work with the New York Power Authority and others to ensure its continuing success at Massena West. Alcoa's strategy of curtailments is consistent with its previously announced 2016 goal of lowering its position on the world aluminum production cost curve to the 38th percentile and the alumina cost curve to the 21st percentile.
Alcoa has already closed one of the three potlines at the Massena facility in Aug 2013. Including the closure of the remaining two potlines at Massena East, the company has announced closures or curtailments representing 361,000 metric tons of the 460,000 metric tons that were placed under review in May 2013.
After the completion of the closures of the two Massena East potlines, Alcoa will have a total smelting operating capacity of 3,950,000 metric tons, with roughly 655,000 metric tons of capacity idle. The company expects to incur restructuring-related charges of between $60 and $70 million (after-tax) or 6 cents per share, of which around 40% is non cash, in the first quarter of 2014.
Recently, Alcoa released its fourth quarter 2013 results. The company posted a loss of $2.3 billion or $2.19 per share in the fourth quarter of 2013 compared with a profit of $242 million or 21 cents per share in the year-ago quarter. The loss was mainly due to the sizable goodwill impairment charges of $1.7 billion related to acquisitions in the Primary Metals business.
Excluding one-time special items, earnings came in at $40 million or 4 cents per share in the reported quarter, below the year-ago earnings of $64 million or 6 cents. It also missed the Zacks Consensus Estimate of 6 cents.
Revenues dropped roughly 5.3% to $5,585 million in the fourth quarter from $5,898 million in the year-ago quarter but exceeded the Zacks Consensus Estimate of $5,391 million. The decline was primarily due to weak aluminum prices which declined 7% year over year.
Alcoa is a Zacks Rank #3 (Hold) stock.
Other companies in the mining industry worth considering include General Moly, Inc. ( GMO ), Atlatsa Resources Corp. ( ATL ) and Tahoe Resources Inc. ( TAHO ). All of them retain a Zacks Rank #2 (Buy).
ALCOA INC (AA): Free Stock Analysis Report
ATLATSA RESRCS (ATL): Free Stock Analysis Report
GENERAL MOLY IN (GMO): Free Stock Analysis Report
TAHOE RESOURCES (TAHO): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Aluminum giant Alcoa Inc. ( AA ) announced that it will permanently shut down the remaining two potlines at its Massena East smelter in New York in the first quarter of 2014. ALCOA INC (AA): Free Stock Analysis Report ATLATSA RESRCS (ATL): Free Stock Analysis Report GENERAL MOLY IN (GMO): Free Stock Analysis Report TAHOE RESOURCES (TAHO): Free Stock Analysis Report To read this article on Zacks.com click here. The company expects to incur restructuring-related charges of between $60 and $70 million (after-tax) or 6 cents per share, of which around 40% is non cash, in the first quarter of 2014.
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ALCOA INC (AA): Free Stock Analysis Report ATLATSA RESRCS (ATL): Free Stock Analysis Report GENERAL MOLY IN (GMO): Free Stock Analysis Report TAHOE RESOURCES (TAHO): Free Stock Analysis Report To read this article on Zacks.com click here. Aluminum giant Alcoa Inc. ( AA ) announced that it will permanently shut down the remaining two potlines at its Massena East smelter in New York in the first quarter of 2014. Including the closure of the remaining two potlines at Massena East, the company has announced closures or curtailments representing 361,000 metric tons of the 460,000 metric tons that were placed under review in May 2013.
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ALCOA INC (AA): Free Stock Analysis Report ATLATSA RESRCS (ATL): Free Stock Analysis Report GENERAL MOLY IN (GMO): Free Stock Analysis Report TAHOE RESOURCES (TAHO): Free Stock Analysis Report To read this article on Zacks.com click here. Aluminum giant Alcoa Inc. ( AA ) announced that it will permanently shut down the remaining two potlines at its Massena East smelter in New York in the first quarter of 2014. After the completion of the closures of the two Massena East potlines, Alcoa will have a total smelting operating capacity of 3,950,000 metric tons, with roughly 655,000 metric tons of capacity idle.
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Aluminum giant Alcoa Inc. ( AA ) announced that it will permanently shut down the remaining two potlines at its Massena East smelter in New York in the first quarter of 2014. ALCOA INC (AA): Free Stock Analysis Report ATLATSA RESRCS (ATL): Free Stock Analysis Report GENERAL MOLY IN (GMO): Free Stock Analysis Report TAHOE RESOURCES (TAHO): Free Stock Analysis Report To read this article on Zacks.com click here. The company posted a loss of $2.3 billion or $2.19 per share in the fourth quarter of 2013 compared with a profit of $242 million or 21 cents per share in the year-ago quarter.
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1213.0
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2014-01-15 00:00:00 UTC
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Alcoa Completes $300M Iowa Auto Expansion - Analyst Blog
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https://www.nasdaq.com/articles/alcoa-completes-%24300m-iowa-auto-expansion-analyst-blog-2014-01-15
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Aluminum giant Alcoa Inc. ( AA ) has wrapped up a $300 million expansion at its Davenport, Iowa plant that supplies aluminum sheet products to the automotive industry. The company has secured long-term supply agreements for the project.
The Iowa expansion created 150 jobs during its construction phase and will also create additional 150 full-time jobs. The expansion is the first of three capacity expansion projects that are underway to meet rising demand for aluminum intensive vehicles.
Alcoa is also adding automotive capacity in Tennessee, which is slated to complete by the middle of next year. Moreover, the company is building a rolling mill (expected to complete by end-2014) at its greenfield joint venture project in Saudi Arabia with capacity to produce aluminum automotive sheets. Alcoa is spending roughly $670 million on these expansions.
As per automotive original equipment manufacturers (OEMs), the use of aluminum in cars is expected to nearly double by 2025 as automakers seek more fuel efficiency by reducing vehicle mass. Moreover, the amount of aluminum body sheet content in vehicles is expected to quadruple by 2015 and rise ten-fold by 2025 from 2012 levels in North America.
Aluminum currently represents the second largest-volume component material in automotive vehicles. Many OEMs are expanding aluminum use from heat exchangers, wheels, drive shafts, engine blocks, hoods and deck lids to develop aluminum intensive vehicles by converting the body in white, or body structure, to aluminum.
Automotive has been one of Alcoa's strongest markets. The automotive industry is showing strength with U.S. auto sales increasing 8% year over year to 15.6 million units last year. Alcoa sees significant growth of aluminum use in the auto sector this year as automakers increasingly look for the metal as a cost-effective mean to boost performance, safety, durability and fuel efficiency of their vehicles.
Alcoa is a Zacks Rank #3 (Hold) stock.
Other companies in the mining industry worth considering include General Moly, Inc. ( GMO ), Atlatsa Resources Corp. ( ATL ) and Tahoe Resources Inc. ( TAHO ). While General Moly holds a Zacks Rank #1 (Strong Buy), both Atlatsa Resources and Tahoe Resources retain a Zacks Rank #2 (Buy).
ALCOA INC (AA): Free Stock Analysis Report
ATLATSA RESRCS (ATL): Free Stock Analysis Report
GENERAL MOLY IN (GMO): Free Stock Analysis Report
TAHOE RESOURCES (TAHO): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Aluminum giant Alcoa Inc. ( AA ) has wrapped up a $300 million expansion at its Davenport, Iowa plant that supplies aluminum sheet products to the automotive industry. ALCOA INC (AA): Free Stock Analysis Report ATLATSA RESRCS (ATL): Free Stock Analysis Report GENERAL MOLY IN (GMO): Free Stock Analysis Report TAHOE RESOURCES (TAHO): Free Stock Analysis Report To read this article on Zacks.com click here. Moreover, the company is building a rolling mill (expected to complete by end-2014) at its greenfield joint venture project in Saudi Arabia with capacity to produce aluminum automotive sheets.
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ALCOA INC (AA): Free Stock Analysis Report ATLATSA RESRCS (ATL): Free Stock Analysis Report GENERAL MOLY IN (GMO): Free Stock Analysis Report TAHOE RESOURCES (TAHO): Free Stock Analysis Report To read this article on Zacks.com click here. Aluminum giant Alcoa Inc. ( AA ) has wrapped up a $300 million expansion at its Davenport, Iowa plant that supplies aluminum sheet products to the automotive industry. Other companies in the mining industry worth considering include General Moly, Inc. ( GMO ), Atlatsa Resources Corp. ( ATL ) and Tahoe Resources Inc. ( TAHO ).
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Aluminum giant Alcoa Inc. ( AA ) has wrapped up a $300 million expansion at its Davenport, Iowa plant that supplies aluminum sheet products to the automotive industry. ALCOA INC (AA): Free Stock Analysis Report ATLATSA RESRCS (ATL): Free Stock Analysis Report GENERAL MOLY IN (GMO): Free Stock Analysis Report TAHOE RESOURCES (TAHO): Free Stock Analysis Report To read this article on Zacks.com click here. Many OEMs are expanding aluminum use from heat exchangers, wheels, drive shafts, engine blocks, hoods and deck lids to develop aluminum intensive vehicles by converting the body in white, or body structure, to aluminum.
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Aluminum giant Alcoa Inc. ( AA ) has wrapped up a $300 million expansion at its Davenport, Iowa plant that supplies aluminum sheet products to the automotive industry. ALCOA INC (AA): Free Stock Analysis Report ATLATSA RESRCS (ATL): Free Stock Analysis Report GENERAL MOLY IN (GMO): Free Stock Analysis Report TAHOE RESOURCES (TAHO): Free Stock Analysis Report To read this article on Zacks.com click here. The expansion is the first of three capacity expansion projects that are underway to meet rising demand for aluminum intensive vehicles.
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1214.0
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2014-01-14 00:00:00 UTC
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Big Week for Big Bank Earnings
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https://www.nasdaq.com/articles/big-week-big-bank-earnings-2014-01-14
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Fourth-quarter earnings season didn't exactly start with a bang.
Alcoa ( AA ), the aluminum giant that has long been the unofficial start to earnings season, fell shy of analyst estimates last Thursday. Forecasters were predicting EPS of 6 cents per share; Alcoa only managed 4 cents per share. The stock has since fallen nearly 6% in just two trading days.
Because of its place in the manufacturing sector, Alcoa is considered a stock market bellwether. As it goes, so goes the rest of earnings season.
We'll know more this week if that's the case. All of the big banks report Q4 earnings, beginning today with JPMorgan Chase ( JPM ) and Wells Fargo ( WFC ).
Though Alcoa earnings are often a harbinger of what's to come, big bank earnings are far more important. The banks have been the leaders in this ongoing bull rally. Improved earnings have helped, as the six largest U.S. financials have routinely beat analyst estimates over the last couple years.
One reason for all the beats is that expectations for big bank earnings remain muted in the aftermath of the recession. And with good reason. Bank of America ( BAC ) , for example, posted EPS of just $0.65 over the last four quarters - a mere fraction of the $4.59 the company was earning per share in 2006.
Still, bank shares have steadily risen by regularly beating low earnings estimates.
We'll find out this week if they can continue to beat those expectations. Here is a list of who's reporting Q4 earnings and when - banks or otherwise:
Tuesday
Wells Fargo
JPMorgan Chase
Wednesday
Bank of America
Thursday
Goldman Sachs ( GS )
Intel (Nasdaq: INTC)
Citigroup (C)
Friday
Morgan Stanley (MS)
General Electric (GE)
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Alcoa ( AA ), the aluminum giant that has long been the unofficial start to earnings season, fell shy of analyst estimates last Thursday. All of the big banks report Q4 earnings, beginning today with JPMorgan Chase ( JPM ) and Wells Fargo ( WFC ). Here is a list of who's reporting Q4 earnings and when - banks or otherwise: Tuesday Wells Fargo JPMorgan Chase Wednesday Bank of America Thursday Goldman Sachs ( GS ) Intel (Nasdaq: INTC) Citigroup (C) Friday Morgan Stanley (MS) General Electric (GE) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Alcoa ( AA ), the aluminum giant that has long been the unofficial start to earnings season, fell shy of analyst estimates last Thursday. All of the big banks report Q4 earnings, beginning today with JPMorgan Chase ( JPM ) and Wells Fargo ( WFC ). Here is a list of who's reporting Q4 earnings and when - banks or otherwise: Tuesday Wells Fargo JPMorgan Chase Wednesday Bank of America Thursday Goldman Sachs ( GS ) Intel (Nasdaq: INTC) Citigroup (C) Friday Morgan Stanley (MS) General Electric (GE) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Alcoa ( AA ), the aluminum giant that has long been the unofficial start to earnings season, fell shy of analyst estimates last Thursday. Though Alcoa earnings are often a harbinger of what's to come, big bank earnings are far more important. One reason for all the beats is that expectations for big bank earnings remain muted in the aftermath of the recession.
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Alcoa ( AA ), the aluminum giant that has long been the unofficial start to earnings season, fell shy of analyst estimates last Thursday. Forecasters were predicting EPS of 6 cents per share; Alcoa only managed 4 cents per share. One reason for all the beats is that expectations for big bank earnings remain muted in the aftermath of the recession.
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1215.0
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2014-01-14 00:00:00 UTC
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Alcoa Inc. (AA): New Analyst Report from Zacks Equity Research - Zacks Equity Research Report
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AA
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https://www.nasdaq.com/articles/alcoa-inc-aa-new-analyst-report-zacks-equity-research-zacks-equity-research-report-2014-01
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nan
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nan
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Summary:
We are retaining our Neutral recommendation on Alcoa. The company ended 2014 on a strong note with both revenues and earnings topping Zacks Consensus Estimates in the fourth quarter. It swung to a profit on strength across the aerospace and automotive markets, higher metals pricing and productivity gains. The company provided a strong forecast for the aerospace market in 2015. Alcoa is divesting underperforming assets through its restructuring program and is aggressively pursuing cost-cutting actions. Healthy demand across the aerospace and automotive markets is expected to drive results moving ahead. However, weakness continues in the European building & construction and commercial transportation markets. Moreover, Alcoa remains exposed to a volatile pricing environment.
Overview:
Alcoa Inc. (AA), a Pennsylvania-based corporation, is among the world leader in the in the production and management of primary aluminum, fabricated aluminum, and alumina as well as the world's largest miner of bauxite and refiner of alumina. It involves mining, refining, smelting, fabricating and recycling of aluminum. Alcoa is also engaged in investments and operating activities in, among others, Australia, Brazil, China, Guinea, Iceland, Russia, and Saudi Arabia, all of which present opportunities for substantial growth.
Alcoa's operations consist of four worldwide reportable segments: Alumina, Primary Metals, Global Rolled Products, and Engineered Products and Solutions.
Alumina - This segment represents a portion of Alcoa's upstream operations and consists of the company's worldwide refinery system, including the mining of bauxite, which is then refined into alumina. Alumina is mainly sold directly to internal and external smelter customers worldwide or is sold to customers who process it into industrial chemical products. A portion of this segment's third-party sales are completed through the use of agents, alumina traders, and distributors.
Primary Metals - This segment represents a portion of Alcoa's upstream operations and consists of the company's worldwide smelter system. Primary Metals receives alumina, mostly from the Alumina segment, and produces primary aluminum used by Alcoa's fabricating businesses, as well as sold to external customers, aluminum traders, and commodity markets.
Global Rolled Products - The principal business of the segment is the production and sale of aluminum plate, sheet and foil. This segment includes rigid container sheet, which is sold directly to customers in the packaging and consumer market. This segment also includes sheet and plate used in the aerospace, automotive, commercial transportation, and building and construction markets. This segment represents Alcoa's midstream operations. A small portion of this segment's operations relate to foil produced at one plant in Brazil.
Engineered Products and Solutions - This segment represents Alcoa's downstream operations and includes titanium, aluminum, and super alloy investment castings forgings and fasteners aluminum wheels integrated aluminum structural systems and architectural extrusions used in the aerospace, automotive, building and construction, commercial transportation, and power generation markets. These products are sold directly to customers and through distributors. Additionally, hard alloy extrusions products, which are also sold directly to customers and through distributors, serve the aerospace, automotive, commercial transportation, and industrial products markets.
Firth Rixson Acquisition
Alcoa, in June 2014, agreed to buy U.K.-based leading jet engine components maker Firth Rixson from private equity firm Oak Hill Capital Partners in a cash and stock deal worth $2.85 billion. The company wrapped up the acquisition in November 2014 following the receipt of all the necessary regulatory clearances and arrangement of financing for the deal. Under the deal terms, Alcoa bought Firth Rixson for $2.35 billion in cash and $500 million of its stock and an additional $150 million for specific earnings-related milestones. The buyout has been backed by a fully committed bridge facility from Morgan Stanley (MS).
Firth Rixson is currently the global number one in seamless rolled jet engine rings that are engineered from nickel-based superalloys and titanium, and is a leading supplier of jet engine forgings. Its sales are expected rise 12% annually through 2019, a rate more than double the global aerospace market. Its revenues have been forecast to increase 60% over the next 3 years to $1.6 billion from $1 billion in 2013. The acquisition of Firth Rixson it a strategic fit for Alcoa as it complements the latter's goal to strengthen its global aerospace portfolio.
Alcoa Inc. (AA): Read the Full Research Report
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ALCOA INC (AA): Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Overview: Alcoa Inc. (AA), a Pennsylvania-based corporation, is among the world leader in the in the production and management of primary aluminum, fabricated aluminum, and alumina as well as the world's largest miner of bauxite and refiner of alumina. Alcoa Inc. (AA): Read the Full Research Report Want the latest recommendations from Zacks Investment Research? Click to get this free report ALCOA INC (AA): Free Stock Analysis Report To read this article on Zacks.com click here.
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Overview: Alcoa Inc. (AA), a Pennsylvania-based corporation, is among the world leader in the in the production and management of primary aluminum, fabricated aluminum, and alumina as well as the world's largest miner of bauxite and refiner of alumina. Alcoa Inc. (AA): Read the Full Research Report Want the latest recommendations from Zacks Investment Research? Click to get this free report ALCOA INC (AA): Free Stock Analysis Report To read this article on Zacks.com click here.
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Overview: Alcoa Inc. (AA), a Pennsylvania-based corporation, is among the world leader in the in the production and management of primary aluminum, fabricated aluminum, and alumina as well as the world's largest miner of bauxite and refiner of alumina. Alcoa Inc. (AA): Read the Full Research Report Want the latest recommendations from Zacks Investment Research? Click to get this free report ALCOA INC (AA): Free Stock Analysis Report To read this article on Zacks.com click here.
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Overview: Alcoa Inc. (AA), a Pennsylvania-based corporation, is among the world leader in the in the production and management of primary aluminum, fabricated aluminum, and alumina as well as the world's largest miner of bauxite and refiner of alumina. Alcoa Inc. (AA): Read the Full Research Report Want the latest recommendations from Zacks Investment Research? Click to get this free report ALCOA INC (AA): Free Stock Analysis Report To read this article on Zacks.com click here.
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1216.0
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2014-01-13 00:00:00 UTC
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Stock Market News for January 13, 2014 - Market News
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AA
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https://www.nasdaq.com/articles/stock-market-news-for-january-13-2014-market-news-2014-01-13
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A surprise weaker-than-expected US jobs report left investors wary about betting big on equities; thus leading the benchmarks to end on a mixed note. While the Dow ended in the red, S&P 500 and Nasdaq managed some gains, aided by certain defensive stocks. The drop in the blue-chip index was also consistent with weekly numbers, as only the S&P 500 and Nasdaq closed the week in the green. Financials stocks were among the major losers.
For a look at the issues currently facing the markets, make sure to read today's Ahead of Wall Street article
The Dow Jones Industrial Average dropped 0.05% to close Friday's trading session at 16,437.05. The Standard & Poor 500 gained a modest 0.2% to end at 1,842.37. The tech-laden Nasdaq Composite Index was up 0.4% to finish at 4,174.66. The CBOE Volatility Index (VIX) dropped 5.8% to 12.14. Composite volume on the New York Stock Exchange (NYSE) was 3.3 billion. The advancers well outpaced the decliners on the NYSE, as for 70% stocks that gained, 28% ended in the negative zone.
Termed by some analysts as an 'anomaly', the lower-than-expected nonfarm payroll data was indeed surprising as it came after the jobs situation has shown consistent improvement over a decent period. On Friday, the U.S. Bureau of Labor Statistics reported that nonfarm payroll employment moved up 74,000 in December. This was significantly below the consensus estimate of a gain of 192,000. In fact, the 74K gain was the smallest improvement since Jan 2011. However, the report stated that unemployment rate has dropped to 6.7% in December from 7%.
These dismal numbers come close on the heels of positive jobs data reported in the same week. On Wednesday, markets received positive jobs data as Automatic Data Processing (NASDAQ: ADP ) reported an addition of 238,000 private jobs in December. This outpaced the consensus estimate of an addition of 200,000 jobs. This report was followed by the decline in the claim numbers. The number of Americans filing for unemployment benefits declined 15,000 to 330,000.
The Fed had set certain economic targets before it could decide on tapering the bond buyback program. Employment data was being closely examined and an improvement in the labor market situation was one of the reasons behind the taper call the central bank took last month. The surprising dismal tone in employment numbers have made some onlookers speculate about the pace of Fed's tapering.
The earnings season is underway and investors will have an eye on the corporate numbers. So far, 5% of the S&P 500 companies have released their earnings performance, of which 50% has outperformed profit estimates. However, among the latest reports and forecasts, Alcoa Inc (NYSE: AA ), Chevron Corporation (NYSE: CVX ) and Sears Holdings Corp (NASDAQ: SHLD ) each had something dismal to share and their shares dropped 5.4%, 1.9% and 13.8%, respectively. While Alcoa fell short of profit estimates, Chevron's earnings were forecasted to be damaged by lower energy output. Sears revealed it had suffered a fourth-quarter loss.
Among the positives, defensive stocks were decent gainers and also drove some of the benchmarks higher. Stocks such as Raytheon Company (NYSE: RTN ), Lockheed Martin Corporation (NYSE: LMT ), Northrop Grumman Corporation (NYSE: NOC ) and Alliant Techsystems Inc. (NYSE: ATK ) gained 0.7%, 0.5%, 0.6% and 8.5%, respectively.
Financial stocks on the other hand ended on the losing side. Financial Select Sector SPDR (XLF) dropped 0.2% and stocks including JPMorgan Chase & Co. (NYSE: JPM ) (0.5%), Wells Fargo & Co (NYSE: WFC ) (0.5%), Citigroup Inc (NYSE: C ) (0.9%), Morgan Stanley (NYSE: MS ) (0.8%) and Bank of America Corp (NYSE: BAC ) (0.4%) declined 0.5%, 0.5%, 0.9%, 0.8% and 0.4%, respectively.
ALCOA INC (AA): Free Stock Analysis Report
AUTOMATIC DATA (ADP): Free Stock Analysis Report
ALLIANT TECHSYS (ATK): Free Stock Analysis Report
BANK OF AMER CP (BAC): Free Stock Analysis Report
CITIGROUP INC (C): Free Stock Analysis Report
CHEVRON CORP (CVX): Free Stock Analysis Report
JPMORGAN CHASE (JPM): Free Stock Analysis Report
LOCKHEED MARTIN (LMT): Free Stock Analysis Report
MORGAN STANLEY (MS): Free Stock Analysis Report
NORTHROP GRUMMN (NOC): Free Stock Analysis Report
RAYTHEON CO (RTN): Free Stock Analysis Report
SEARS HLDG CP (SHLD): Free Stock Analysis Report
WELLS FARGO-NEW (WFC): Free Stock Analysis Report
SPDR-FINL SELS (XLF): ETF Research Reports
To read this article on Zacks.com click here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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However, among the latest reports and forecasts, Alcoa Inc (NYSE: AA ), Chevron Corporation (NYSE: CVX ) and Sears Holdings Corp (NASDAQ: SHLD ) each had something dismal to share and their shares dropped 5.4%, 1.9% and 13.8%, respectively. ALCOA INC (AA): Free Stock Analysis Report AUTOMATIC DATA (ADP): Free Stock Analysis Report ALLIANT TECHSYS (ATK): Free Stock Analysis Report BANK OF AMER CP (BAC): Free Stock Analysis Report CITIGROUP INC (C): Free Stock Analysis Report CHEVRON CORP (CVX): Free Stock Analysis Report JPMORGAN CHASE (JPM): Free Stock Analysis Report LOCKHEED MARTIN (LMT): Free Stock Analysis Report MORGAN STANLEY (MS): Free Stock Analysis Report NORTHROP GRUMMN (NOC): Free Stock Analysis Report RAYTHEON CO (RTN): Free Stock Analysis Report SEARS HLDG CP (SHLD): Free Stock Analysis Report WELLS FARGO-NEW (WFC): Free Stock Analysis Report SPDR-FINL SELS (XLF): ETF Research Reports To read this article on Zacks.com click here. A surprise weaker-than-expected US jobs report left investors wary about betting big on equities; thus leading the benchmarks to end on a mixed note.
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ALCOA INC (AA): Free Stock Analysis Report AUTOMATIC DATA (ADP): Free Stock Analysis Report ALLIANT TECHSYS (ATK): Free Stock Analysis Report BANK OF AMER CP (BAC): Free Stock Analysis Report CITIGROUP INC (C): Free Stock Analysis Report CHEVRON CORP (CVX): Free Stock Analysis Report JPMORGAN CHASE (JPM): Free Stock Analysis Report LOCKHEED MARTIN (LMT): Free Stock Analysis Report MORGAN STANLEY (MS): Free Stock Analysis Report NORTHROP GRUMMN (NOC): Free Stock Analysis Report RAYTHEON CO (RTN): Free Stock Analysis Report SEARS HLDG CP (SHLD): Free Stock Analysis Report WELLS FARGO-NEW (WFC): Free Stock Analysis Report SPDR-FINL SELS (XLF): ETF Research Reports To read this article on Zacks.com click here. However, among the latest reports and forecasts, Alcoa Inc (NYSE: AA ), Chevron Corporation (NYSE: CVX ) and Sears Holdings Corp (NASDAQ: SHLD ) each had something dismal to share and their shares dropped 5.4%, 1.9% and 13.8%, respectively. Stocks such as Raytheon Company (NYSE: RTN ), Lockheed Martin Corporation (NYSE: LMT ), Northrop Grumman Corporation (NYSE: NOC ) and Alliant Techsystems Inc. (NYSE: ATK ) gained 0.7%, 0.5%, 0.6% and 8.5%, respectively.
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ALCOA INC (AA): Free Stock Analysis Report AUTOMATIC DATA (ADP): Free Stock Analysis Report ALLIANT TECHSYS (ATK): Free Stock Analysis Report BANK OF AMER CP (BAC): Free Stock Analysis Report CITIGROUP INC (C): Free Stock Analysis Report CHEVRON CORP (CVX): Free Stock Analysis Report JPMORGAN CHASE (JPM): Free Stock Analysis Report LOCKHEED MARTIN (LMT): Free Stock Analysis Report MORGAN STANLEY (MS): Free Stock Analysis Report NORTHROP GRUMMN (NOC): Free Stock Analysis Report RAYTHEON CO (RTN): Free Stock Analysis Report SEARS HLDG CP (SHLD): Free Stock Analysis Report WELLS FARGO-NEW (WFC): Free Stock Analysis Report SPDR-FINL SELS (XLF): ETF Research Reports To read this article on Zacks.com click here. However, among the latest reports and forecasts, Alcoa Inc (NYSE: AA ), Chevron Corporation (NYSE: CVX ) and Sears Holdings Corp (NASDAQ: SHLD ) each had something dismal to share and their shares dropped 5.4%, 1.9% and 13.8%, respectively. Stocks such as Raytheon Company (NYSE: RTN ), Lockheed Martin Corporation (NYSE: LMT ), Northrop Grumman Corporation (NYSE: NOC ) and Alliant Techsystems Inc. (NYSE: ATK ) gained 0.7%, 0.5%, 0.6% and 8.5%, respectively.
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However, among the latest reports and forecasts, Alcoa Inc (NYSE: AA ), Chevron Corporation (NYSE: CVX ) and Sears Holdings Corp (NASDAQ: SHLD ) each had something dismal to share and their shares dropped 5.4%, 1.9% and 13.8%, respectively. ALCOA INC (AA): Free Stock Analysis Report AUTOMATIC DATA (ADP): Free Stock Analysis Report ALLIANT TECHSYS (ATK): Free Stock Analysis Report BANK OF AMER CP (BAC): Free Stock Analysis Report CITIGROUP INC (C): Free Stock Analysis Report CHEVRON CORP (CVX): Free Stock Analysis Report JPMORGAN CHASE (JPM): Free Stock Analysis Report LOCKHEED MARTIN (LMT): Free Stock Analysis Report MORGAN STANLEY (MS): Free Stock Analysis Report NORTHROP GRUMMN (NOC): Free Stock Analysis Report RAYTHEON CO (RTN): Free Stock Analysis Report SEARS HLDG CP (SHLD): Free Stock Analysis Report WELLS FARGO-NEW (WFC): Free Stock Analysis Report SPDR-FINL SELS (XLF): ETF Research Reports To read this article on Zacks.com click here. The advancers well outpaced the decliners on the NYSE, as for 70% stocks that gained, 28% ended in the negative zone.
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1217.0
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2014-01-13 00:00:00 UTC
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Materials get a rocky start to earnings season
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AA
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https://www.nasdaq.com/articles/materials-get-rocky-start-earnings-season-2014-01-13
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nan
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nan
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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1218.0
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2014-01-13 00:00:00 UTC
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Alcoa Reports Lower Revenues On Aluminum Prices, Net Loss On Impairments
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AA
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https://www.nasdaq.com/articles/alcoa-reports-lower-revenues-aluminum-prices-net-loss-impairments-2014-01-13
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nan
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Alcoa ( AA ) released its fourth quarter and annual earnings on Thursday, January 9. The company's reported quarterly revenues of $5.6 billion were lower than the $5.9 billion reported in Q4 2012 due to 7% lower year-over-year aluminum prices. Seasonally weaker results in the value-add businesses, especially the packaging markets as well as weakness in industrial markets and weather related impact on building and construction were other factors that contributed to lower revenues.
Net loss for the fourth quarter stood at $2.3 billion compared to a net income of $24 million in the previous quarter and $242 million in the fourth quarter of 2012. Full year net loss was $2.3 billion compared to a profit of $191 million in 2012. The huge net loss was primarily due to special items worth $2.4 billion that included a $1.7 billion impairment of goodwill, a $361 million non-cash charge related to potential tax benefits whose realization is no longer assured and $243 million related to the $384 million Alcoa agreed to pay to settle criminal and civil charges brought by the U.S. Justice Department and the SEC. Without the impact of special items, Alcoa's Q4 earnings stood at $40 million.
Alcoa managed to reduce costs and the working capital cycle and increase productivity.
See Full Analysis for Alcoa Here
Productivity Related Improvements Offset Lower Volumes
Alcoa managed to increase the productivity of its operations and reduce costs. The company estimated that the benefits due to these amounted to $1.1 billion for the whole year, which far exceeded its target of $750 million. Productivity related gains helped to offset the impact of lower volumes, particularly those related to seasonal declines in packaging. It also helped offset higher costs of energy in the upstream business. The additional value boosted the company's bottom line. Considering that Alcoa's net loss for the full year stood at $2.3 billion, the figure would have been much higher without this contribution. Since it is only to be expected that in a weak economic scenario neither demand nor volumes sold would increase much, productivity would always be an important factor in determining profitability.
Performance Of Individual Business Segments In Q4
In the engineered products and solutions ( EPS ) division, ATOI rose year-over-year from $140 million to $168 million due to productivity gains and higher sales volumes. The division reported an adjusted EBITDA margin of 20.3%.
In the global rolled products (GRP) division, ATOI declined on a year-over-year basis to $21 million from $77 million due to pricing pressure, a seasonal decline in demand and high inventory levels in the aerospace segment. In this segment, productivity gains were able to offset the negative impact of these factors only marginally.
In the upstream part of the business, Alcoa's alumina division gained handsomely year-over-year due to higher Alumina Price Index ( API ) prices even in the face of lower London Metal Exchange(LME) aluminum prices and productivity related improvements. ATOI increased from $41 million to $70 million sequentially. (( LME Aluminum Price Graph , LME))
The ATOI for the primary metals segment stood at a negative $35 million compared to a positive $8 million in Q3 2012. The sequential decline was due to lower LME prices and increased energy costs.
Outlook For 2014
Alcoa witnessed robust global growth in the aerospace segment to the tune of 9-10%. The bulk of this growth came due to demand for commercial planes rather than civilian aircraft. Going forward, Alcoa predicts a constant 7-8% growth rate in this segment in 2014.
There is a large backlog of orders with Boeing and Airbus to the tune of 10,000 planes which might take upto 8 years to clear. Boeing and Airbus received orders from Emirates worth $76 billion for their 777X and A380 models respectively at the Dubai Airshow in 2013. In addition, demand from the cargo sector was up by 5.3% in 2013 and is expected to further increase by 6% in 2014. The opportunities will be partially offset by excess inventory of aerospace structural plates which would take two years to come down and will impact revenues negatively by 10% compared to 2013 levels. For the first time, Alcoa talked extensively about other parts of the aerospace market where it sees good opportunity. It said that in 2013 jets for regional airlines saw a demand growth of 19.5%, business jets saw a demand growth of 10% and on the defense side there was some positive news as major budget reductions for platforms like the Joint Strike Fighter and the F-35 were avoided by the government.
The automotive segment in the U.S. saw growth of 4-5% in 2013 and Alcoa expects further growth between 2-5% in 2014. The average age of passenger cars today is 11.4 years against a historic average of 9.4 years, which implies pent-up demand. In Europe, production is expected to stabilize in 2013 and Alcoa expects growth between -1% to 3%. The demand growth in China is expected to be between 6-10% despite expectations of increased restrictions to check air pollution.
In the truck and trailers segment in North America, production declined by 12% in 2013 but is expected to increase between 1-5% in 2014. Demand in the commercial building and construction segment is expected to grow by 3-4% in 2014 in North America. In the industrial gas turbine segment, however, demand may decrease by 8-12% because in Europe gas-fired power generation is facing competition from low priced coal, and in the U.S., gas prices have increased, which has allowed coal to claw back some share in power generation. (( Alcoa Q4 2013 Earnings Conference Call , Seeking Alpha))
We have a Trefis price estimate for Alcoa of $7, which will shortly be revised in view of the latest earnings results.
Understand How a Company's Products Impact its Stock at Trefis
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Alcoa ( AA ) released its fourth quarter and annual earnings on Thursday, January 9. Since it is only to be expected that in a weak economic scenario neither demand nor volumes sold would increase much, productivity would always be an important factor in determining profitability. The opportunities will be partially offset by excess inventory of aerospace structural plates which would take two years to come down and will impact revenues negatively by 10% compared to 2013 levels.
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Alcoa ( AA ) released its fourth quarter and annual earnings on Thursday, January 9. The company's reported quarterly revenues of $5.6 billion were lower than the $5.9 billion reported in Q4 2012 due to 7% lower year-over-year aluminum prices. In the global rolled products (GRP) division, ATOI declined on a year-over-year basis to $21 million from $77 million due to pricing pressure, a seasonal decline in demand and high inventory levels in the aerospace segment.
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Alcoa ( AA ) released its fourth quarter and annual earnings on Thursday, January 9. The huge net loss was primarily due to special items worth $2.4 billion that included a $1.7 billion impairment of goodwill, a $361 million non-cash charge related to potential tax benefits whose realization is no longer assured and $243 million related to the $384 million Alcoa agreed to pay to settle criminal and civil charges brought by the U.S. Justice Department and the SEC. In the global rolled products (GRP) division, ATOI declined on a year-over-year basis to $21 million from $77 million due to pricing pressure, a seasonal decline in demand and high inventory levels in the aerospace segment.
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Alcoa ( AA ) released its fourth quarter and annual earnings on Thursday, January 9. Full year net loss was $2.3 billion compared to a profit of $191 million in 2012. In this segment, productivity gains were able to offset the negative impact of these factors only marginally.
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1219.0
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2014-01-10 00:00:00 UTC
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Mid-Afternoon Market Update: Plug Rises on Secondary Pricing as Markets Remain Mixed Following Jobs Number
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AA
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https://www.nasdaq.com/articles/mid-afternoon-market-update-plug-rises-secondary-pricing-markets-remain-mixed-following
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nan
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Midway through trading Friday, the Dow traded down 0.12 percent to 16,424.70 while the NASDAQ gained 0.28 percent to 4,167.01. The S&P also rose, gaining 0.15 percent to 1,840.69.
Top Headline Alcoa (NYSE: AA ) reported a loss in the fourth quarter on Thursday.
Alcoa posted a quarterly loss of $2.34 billion, or $2.19 per share, versus a year-ago profit of $242 million, or $0.21 per share. Excluding one-time items, it earned $0.04 per share.
Its revenue dropped 5% to $5.59 billion. However, analysts were expecting earnings of $0.06 per share on revenue of $5.36 billion.
Equities Trading UP Shares of Intercept Pharmaceuticals (NASDAQ: ICPT ) got a boost, shooting up 62.40 percent to $452.02. Citigroup lifted the price target on the stock from $60.00 to $400.00, while Bank of America raised the price target from $81.00 to $872.00.
Plug Power (NASDAQ: PLUG ) gained 10.24 percent to $3.66 on Friday's session after the company priced a 10 million share secondary offering at $3 per share, apparently pleasing the street.
Francesca's Holdings (NASDAQ: FRAN ) was also up, gaining 23.78 percent to $22.36 after the company narrowed its Q4 revenue forecast to $93 million to $95 million from $90 million to $95 million. It projects earnings of $0.27 to $0.29 per share, versus its earlier forecast of $0.25 to $0.29 per share.
Equities Trading DOWN Shares of MannKind (NASDAQ: MNKD ) were down 15.26 percent to $6.00 after the company announced a tentative date of the FDA advisory committee review of AFREZZA.
Bazaarvoice (NASDAQ: BV ) tumbled 15.09 percent to $7.01 as the U.S. District Court in the Northern District of California ruled against the company's acquisition of PowerReviews.
Sears Holdings (NASDAQ: SHLD ) was down, falling 13.39 percent to $36.87 after the company reported a 7.4% drop in same-store sales at Kmart and Sears for the nine-week period ended January 6. The department store expected to post a loss for the fourth quarter and full year.
Commodities In commodity news, oil traded up 1.23 percent to $92.79, while gold traded up 1.22 percent to $1,244.00.
Silver traded up 2.32 percent Friday to $20.14, while copper rose 1.33 percent to $3.34.
Eurozone European shares were higher today. The Spanish Ibex Index rose 0.49 percent, while Italy's FTSE MIB Index surged 0.24 percent. Meanwhile, the German DAX climbed 0.52 percent and the French CAC 40 rose 0.49 percent while U.K. shares gained 0.78 percent.
Economics The U.S. economy added 74,000 jobs in December, while the unemployment rate declined to 6.7% from 7.0%. However, economists were projecting an addition of 197,000 jobs and unemployment rate to remain steady at 7.0% in the month.
U.S. wholesale inventories rose 0.50% in November, versus economists' expectations for a 0.40% gain. However, wholesale sales climbed 1% in the month.
(c) 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Top Headline Alcoa (NYSE: AA ) reported a loss in the fourth quarter on Thursday. Bazaarvoice (NASDAQ: BV ) tumbled 15.09 percent to $7.01 as the U.S. District Court in the Northern District of California ruled against the company's acquisition of PowerReviews. Equities Trading UP Shares of Intercept Pharmaceuticals (NASDAQ: ICPT ) got a boost, shooting up 62.40 percent to $452.02.
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Top Headline Alcoa (NYSE: AA ) reported a loss in the fourth quarter on Thursday. Bazaarvoice (NASDAQ: BV ) tumbled 15.09 percent to $7.01 as the U.S. District Court in the Northern District of California ruled against the company's acquisition of PowerReviews. Alcoa posted a quarterly loss of $2.34 billion, or $2.19 per share, versus a year-ago profit of $242 million, or $0.21 per share.
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Top Headline Alcoa (NYSE: AA ) reported a loss in the fourth quarter on Thursday. Bazaarvoice (NASDAQ: BV ) tumbled 15.09 percent to $7.01 as the U.S. District Court in the Northern District of California ruled against the company's acquisition of PowerReviews. Midway through trading Friday, the Dow traded down 0.12 percent to 16,424.70 while the NASDAQ gained 0.28 percent to 4,167.01.
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Top Headline Alcoa (NYSE: AA ) reported a loss in the fourth quarter on Thursday. Bazaarvoice (NASDAQ: BV ) tumbled 15.09 percent to $7.01 as the U.S. District Court in the Northern District of California ruled against the company's acquisition of PowerReviews. Midway through trading Friday, the Dow traded down 0.12 percent to 16,424.70 while the NASDAQ gained 0.28 percent to 4,167.01.
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1220.0
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2014-01-10 00:00:00 UTC
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Pre-Market Most Active for Jan 10, 2014 : NOK, BAC, AA, QQQ, TGT, INFY, NVO, CNAT, MNKD, FB, XIV, MSFT
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AA
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https://www.nasdaq.com/articles/pre-market-most-active-jan-10-2014-nok-bac-aa-qqq-tgt-infy-nvo-cnat-mnkd-fb-xiv-msft-2014
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The NASDAQ 100 Pre-Market Indicator is up 6.87 to 3,559.45. The total Pre-Market volume is currently 6,081,697 shares traded.
The following are the most active stocks for the pre-market session :
Nokia Corporation ( NOK ) is +0.06 at $8.11, with 1,520,913 shares traded. NOK's current last sale is 115.86% of the target price of $7.
Bank of America Corporation ( BAC ) is -0.03 at $16.80, with 1,515,479 shares traded.BAC is scheduled to provide an earnings report on 1/15/2014, for the fiscal quarter ending Dec2013. The consensus earnings per share forecast is 0.27 per share, which represents a 3 percent increase over the EPS one Year Ago
Alcoa Inc. ( AA ) is -0.73 at $9.96, with 882,614 shares traded. AA's current last sale is 120.73% of the target price of $8.25.
PowerShares QQQ Trust, Series 1 ( QQQ ) is +0.01 at $87.03, with 789,335 shares traded. This represents a 31.94% increase from its 52 Week Low.
Target Corporation ( TGT ) is -0.94 at $62.40, with 601,573 shares traded. TGT's current last sale is 93.13% of the target price of $67.
Infosys Limited ( INFY ) is +1.1 at $57.25, with 505,037 shares traded. As reported in the last short interest update the days to cover for INFY is 14.339699; this calculation is based on the average trading volume of the stock.
Novo Nordisk A/S ( NVO ) is -0.04 at $38.25, with 436,000 shares traded., following a 52-week high recorded in prior regular session.
Conatus Pharmaceuticals Inc. ( CNAT ) is +2.95 at $12.75, with 408,879 shares traded. As reported by Zacks, the current mean recommendation for CNAT is in the "strong buy range".
MannKind Corporation ( MNKD ) is -0.74 at $6.34, with 334,549 shares traded. As reported in the last short interest update the days to cover for MNKD is 9.142337; this calculation is based on the average trading volume of the stock.
Facebook, Inc. ( FB ) is unchanged at $57.22, with 322,025 shares traded. As reported by Zacks, the current mean recommendation for FB is in the "buy range".
Credit Suisse AG ( XIV ) is +0.25 at $35.21, with 317,094 shares traded.
Microsoft Corporation ( MSFT ) is +0.34 at $35.87, with 287,483 shares traded. MSFT's current last sale is 94.39% of the target price of $38.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The consensus earnings per share forecast is 0.27 per share, which represents a 3 percent increase over the EPS one Year Ago Alcoa Inc. ( AA ) is -0.73 at $9.96, with 882,614 shares traded. AA's current last sale is 120.73% of the target price of $8.25. Bank of America Corporation ( BAC ) is -0.03 at $16.80, with 1,515,479 shares traded.BAC is scheduled to provide an earnings report on 1/15/2014, for the fiscal quarter ending Dec2013.
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The consensus earnings per share forecast is 0.27 per share, which represents a 3 percent increase over the EPS one Year Ago Alcoa Inc. ( AA ) is -0.73 at $9.96, with 882,614 shares traded. AA's current last sale is 120.73% of the target price of $8.25. The total Pre-Market volume is currently 6,081,697 shares traded.
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The consensus earnings per share forecast is 0.27 per share, which represents a 3 percent increase over the EPS one Year Ago Alcoa Inc. ( AA ) is -0.73 at $9.96, with 882,614 shares traded. AA's current last sale is 120.73% of the target price of $8.25. The following are the most active stocks for the pre-market session : Nokia Corporation ( NOK ) is +0.06 at $8.11, with 1,520,913 shares traded.
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The consensus earnings per share forecast is 0.27 per share, which represents a 3 percent increase over the EPS one Year Ago Alcoa Inc. ( AA ) is -0.73 at $9.96, with 882,614 shares traded. AA's current last sale is 120.73% of the target price of $8.25. The following are the most active stocks for the pre-market session : Nokia Corporation ( NOK ) is +0.06 at $8.11, with 1,520,913 shares traded.
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1221.0
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2014-01-10 00:00:00 UTC
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#PreMarket Primer: Friday, January 10: Jobs Friday
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AA
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https://www.nasdaq.com/articles/premarket-primer-friday-january-10-jobs-friday-2014-01-10
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nan
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nan
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No single economic report gets more attention than the monthly non-farm payrolls report. Today at 8:30 am ET, that report hits the markets.
Investors usually sit on their hands prior to the release of the report but this morning, the markets are up. Dow futures imply a 51-point upside move at the open and the S&P 500 would likely move six points higher. This, after a flat day filled with volatility yesterday.
Yesterday, the Dow was essentially flat closing 18 points lower at 16,444.76. The S&P ended the day nearly where it started at 1,838.13, and the NASDAQ gained 0.2 percent to close at 4,156.19.
Top Stories
Shares of Sears Holdings (NASDAQ: SHLD ) plunged more than 14 percent after it revealed that comp. store sales were down 9.2 percent during the key holiday season. T-Mobile (NYSE: TMUS ) announced a credit program of up to $350 to cover termination fees for users who want to ditch their current providers. Worldwide PC shipments fell another 10 percent year-over-year last year.
Asian Markets
Asian markets ended the day mixed after weak China trade data spooked investors. The Nikkei was up nearly 0.2 percent to end the day at 15,912.06
The Shanghai composite was down about 0.7 percent to close at 2013.30 and the Hang Seng, up about 0.3 percent to close at 22846.25.
European Markets
Europe is higher as investors wait for U.S. economic data. The FTSE is up about 0.8 percent and the CAC is up about 0.5 percent. The DAX is up about 0.6 percent.
Commodities
Commodities are mostly higher across the board this morning. WTI is up more than one percent at $92.59 while Brent is about 0.5 percent higher to $106.95. Natural gas is up about one-half of a percent at $4.02.
Gold and silver are trading up about 0.4 percent at $1,232.80 and $19.76 per ounce respectively and copper is up nearly 0.4 percent at $3.31.
Currencies
Major currency pairs are trading nearly at parity this morning. The Euro is flat against the dollar at 1.359, the USD is 0.1 percent higher against the yen at 104.97 and the Aussie dollar is flat against the U.S. dollar at 0.907.
Pre-Market Movers
Pacific Sunwear (NASDAQ: PSUN ) is down more than 13 percent after lowering its outlook following a disappointing holiday season. Five Below (NASDAQ: FIVE ) is down 14 percent. The retailer also cut its outlook after a disappointing holiday season. Abercrombie & Fitch (NYSE: ANF ) is up 14 percent after raising its profit forecast.
Alcoa (NYSE: AA ) reported EPS of $0.04, below the consensus estimate of $0.06. Revenue of $5.6 billion came in ahead of consensus of $5.43 billion. There are no earnings announcements scheduled for today.
Economics
Today, the monthly non-farm payrolls report reaches the market at 8:30 am ET this morning. Fed governor James Bullard speaks at 1:05 pm ET.
(c) 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Alcoa (NYSE: AA ) reported EPS of $0.04, below the consensus estimate of $0.06. Top Stories Shares of Sears Holdings (NASDAQ: SHLD ) plunged more than 14 percent after it revealed that comp. T-Mobile (NYSE: TMUS ) announced a credit program of up to $350 to cover termination fees for users who want to ditch their current providers.
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Alcoa (NYSE: AA ) reported EPS of $0.04, below the consensus estimate of $0.06. No single economic report gets more attention than the monthly non-farm payrolls report. Asian Markets Asian markets ended the day mixed after weak China trade data spooked investors.
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Alcoa (NYSE: AA ) reported EPS of $0.04, below the consensus estimate of $0.06. The Nikkei was up nearly 0.2 percent to end the day at 15,912.06 The Shanghai composite was down about 0.7 percent to close at 2013.30 and the Hang Seng, up about 0.3 percent to close at 22846.25. The FTSE is up about 0.8 percent and the CAC is up about 0.5 percent.
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Alcoa (NYSE: AA ) reported EPS of $0.04, below the consensus estimate of $0.06. Today at 8:30 am ET, that report hits the markets. Yesterday, the Dow was essentially flat closing 18 points lower at 16,444.76.
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1222.0
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2014-01-10 00:00:00 UTC
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No Jobs? No Problem!
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AA
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https://www.nasdaq.com/articles/no-jobs-no-problem-2014-01-10
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nan
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nan
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Stocks shook off a weak NFP report today to make their way into the green.
At8:30 a.m. EST , the Bureau of Labor Statistics announced that just 74,000 jobs were created in December 2013, the lowest number seen since January 2011. The December print was a far cry from not only the 197,000 consensus, but from the low forecast of 100,000.
Private payrolls also missed by a big margin, coming in at just 87,000 vs. Wall Street's expectations for a 200,000 gain.
The unemployment rate was well below expectations at 6.7%, but that was the result of a significant shrinking of the labor force.
Economists were generally perplexed by the weakness, especially since Wednesday's ADP employment report was so strong. Unexpectedly cold weather likely played a role in slowing down hiring, and some jobs sectors -- like health care and accounting and bookkeeping services -- were surprisingly weak.
On the positive side, November 2013's NFP number was revised up to 241,000 from 203,000.
Immediately following the report, S&P 500 (INDEXSP:.INX) stock futures dropped 12 points. However, the index bottomed out by midday, and gradually crawled up throughout the day to finish up 0.2% at 1842.37.
But the real action was in Treasuries, as yields steadily declined throughout the day, bringing the 10-year down 10 bps to 2.86%, a level not seen since mid-December. That sharp drop drove a spike in interest-rate sensitive stock sectors like utilities and housing. Gold also performed well, with a 1.3% gain.
Elsewhere, shares of Intercept Pharmaceuticals ( ICPT ) rose an incredible 62% to $445.83 , just one day after it rose 281% on news of a successful trial for a liver-disease drug. Bank of America ( BAC ) helped drive the optimism as it increased its price target on Intercept to $872 from just $81.
Alcoa ( AA ) sold off 5.4% to $10.11 after the aluminum maker reported weaker-than-expected fourth-quarter earnings. The stock had risen 20% in the two months preceding the report, so expectations were high.
The retail sector was busy, with Sears Holdings ( SHLD ) taking a 13.8% hit following its disappointing sales update issued after the closeThursday , while Abercrombie & Fitch ( ANF ) shot up 12.0% on its increased guidance. Target (TGT) fell 1.1% after lowering fourth-quarter guidance and announcing that its recent security breach was larger than previously thought.
And finally, Indian IT firm Infosys (INFY) squeezed out a 6.0% rally on its better-than-expected third-quarter earnings report.
Monday's Financial Outlook
There are no major earnings and economic reports on the calendar forMonday . For now, investors will be parsing the NFP numbers as well as pondering the impact of the recent QE taper announcement.
Additionally, some investors may be feeling cautious from the weak start to the year, which can be a harbinger of dark times ahead.
In terms of news, we should see more companies adjusting fourth-quarter guidance, and based on recent history, the changes will likely be mostly negative.
And of course, things will pickon Tuesday with the December 2013 retail sales numbers, and earnings reports from megabanks JPMorgan (JPM) and Wells Fargo (WFC).
Twitter: @Minyanville
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Alcoa ( AA ) sold off 5.4% to $10.11 after the aluminum maker reported weaker-than-expected fourth-quarter earnings. Unexpectedly cold weather likely played a role in slowing down hiring, and some jobs sectors -- like health care and accounting and bookkeeping services -- were surprisingly weak. The retail sector was busy, with Sears Holdings ( SHLD ) taking a 13.8% hit following its disappointing sales update issued after the closeThursday , while Abercrombie & Fitch ( ANF ) shot up 12.0% on its increased guidance.
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Alcoa ( AA ) sold off 5.4% to $10.11 after the aluminum maker reported weaker-than-expected fourth-quarter earnings. And of course, things will pickon Tuesday with the December 2013 retail sales numbers, and earnings reports from megabanks JPMorgan (JPM) and Wells Fargo (WFC). Twitter: @Minyanville The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Alcoa ( AA ) sold off 5.4% to $10.11 after the aluminum maker reported weaker-than-expected fourth-quarter earnings. Stocks shook off a weak NFP report today to make their way into the green. The stock had risen 20% in the two months preceding the report, so expectations were high.
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Alcoa ( AA ) sold off 5.4% to $10.11 after the aluminum maker reported weaker-than-expected fourth-quarter earnings. Stocks shook off a weak NFP report today to make their way into the green. Immediately following the report, S&P 500 (INDEXSP:.INX) stock futures dropped 12 points.
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1223.0
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2014-01-09 00:00:00 UTC
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Jobs Numbers, Fed Minutes and Earnings - Ahead of Wall Street
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AA
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https://www.nasdaq.com/articles/jobs-numbers-fed-minutes-and-earnings-ahead-wall-street-2014-01-09
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nan
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nan
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Thursday, January 9, 2014
The better-than-expected Jobless Claims numbers this morning add to the growing list of indicators that are pointing towards a strong jobs reading from the Bureau of Labor Statistics tomorrow morning. A positive labor reading tomorrow will be in-line with all recent economic data that is showing a second-half 2013 ramp up in the U.S. growth picture.
In addition to the better-than-expected Jobless Claims numbers, the Challenger survey of job-cut announcements this morning shows the December lay-offs level at the lowest since June 2000. This follows Wednesday's ADP report that showed a strong acceleration in the pace of job gains in December. The employment components of the two ISM surveys also showed gains that follow improvements in trade balance and spending trends, both business as well as households.
All of this is prompting positive revisions to Q4 GDP estimates, which have moved up from close to +1% at the start of the quarter to almost +3% at present. The first look on Q4 GDP is a couple of weeks away, but a growth pace in the +3% vicinity will have pushed second half 2013 GDP to a pace more than double the first half's rate. The consensus and the Fed's view is of this second-half momentum carrying into 2014 and generating sustainable growth in excess of +3%.
This favorable turn of events is confirmatory of the Fed's Taper call. Minutes of the December FOMC meeting shows that the Taper decision wasn't contentious. The FOMC members didn't see that much value in the incremental purchases, but wanted to emphasize that the support will be withdrawn in a measured and deliberate fashion.
They want to watch out for asset bubbles, and 'several members' apparently commented on elevated stock market P/E ratios, the high level of stock buybacks and the rise in margin debt. But the committee overall appeared to be satisfied with the cumulative improvement in the labor market since the current QE program was instituted and saw fewer downside risks to the economy's growth trajectory in 2014 and beyond.
In corporate news, Alcoa's ( AA ) report after the close today provides the 'unofficial' kick-off for the 2013 Q4 earnings season. Officially, the Q4 earnings season has gotten underway already, with results from 20 S&P 500 members out. All of the results that have come thus far are from companies that have fiscal quarters ending in November that get counted as part of the Q4 tally; Alcoa will be the first S&P 500 member to report that operates on the calendar quarter.
In other news, Family Dollar ( FDO ) missed expectations and guided lower while L Brands ( LB ) came out with a negative pre-announcement.
Sheraz Mian
Director of Research
ALCOA INC (AA): Free Stock Analysis Report
FAMILY DOLLAR (FDO): Free Stock Analysis Report
L BRANDS INC (LB): Free Stock Analysis Report
To read this article on Zacks.com click here.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In corporate news, Alcoa's ( AA ) report after the close today provides the 'unofficial' kick-off for the 2013 Q4 earnings season. Sheraz Mian Director of Research ALCOA INC (AA): Free Stock Analysis Report FAMILY DOLLAR (FDO): Free Stock Analysis Report L BRANDS INC (LB): Free Stock Analysis Report To read this article on Zacks.com click here. In addition to the better-than-expected Jobless Claims numbers, the Challenger survey of job-cut announcements this morning shows the December lay-offs level at the lowest since June 2000.
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In corporate news, Alcoa's ( AA ) report after the close today provides the 'unofficial' kick-off for the 2013 Q4 earnings season. Sheraz Mian Director of Research ALCOA INC (AA): Free Stock Analysis Report FAMILY DOLLAR (FDO): Free Stock Analysis Report L BRANDS INC (LB): Free Stock Analysis Report To read this article on Zacks.com click here. Click to get this free report The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Sheraz Mian Director of Research ALCOA INC (AA): Free Stock Analysis Report FAMILY DOLLAR (FDO): Free Stock Analysis Report L BRANDS INC (LB): Free Stock Analysis Report To read this article on Zacks.com click here. In corporate news, Alcoa's ( AA ) report after the close today provides the 'unofficial' kick-off for the 2013 Q4 earnings season. Thursday, January 9, 2014 The better-than-expected Jobless Claims numbers this morning add to the growing list of indicators that are pointing towards a strong jobs reading from the Bureau of Labor Statistics tomorrow morning.
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Sheraz Mian Director of Research ALCOA INC (AA): Free Stock Analysis Report FAMILY DOLLAR (FDO): Free Stock Analysis Report L BRANDS INC (LB): Free Stock Analysis Report To read this article on Zacks.com click here. In corporate news, Alcoa's ( AA ) report after the close today provides the 'unofficial' kick-off for the 2013 Q4 earnings season. This follows Wednesday's ADP report that showed a strong acceleration in the pace of job gains in December.
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1224.0
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2014-01-09 00:00:00 UTC
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#PreMarket Primer: Thursday, January 9: The Day Before the Jobs Report
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AA
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https://www.nasdaq.com/articles/premarket-primer-thursday-january-9-day-jobs-report-2014-01-09
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nan
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The anticipation over the Fed minutes was overdone as the markets read the statement as being a non-event. The minutes reaffirmed that committee members were still proceeding with caution and there is no preset timeline.
In the wake of the minutes the Dow was down about 0.4 percent at 16,362.74. The S&P was nearly flat losing 0.02 percent to close at 1,837.49, and the NASDAQ gained 0.3 percent to close at 4,165.81.
U.S. markets are up in premarket trading this morning. The Dow is up about 72 points lower while the S&P is up about seven.
Top Stories
The ADP jobs report beat forecasts coming in at 238,000. Wall Street was expect 205,000. Macy's (NYSE: M ) announced that it was closing five stores and cutting 2,500 jobs. The market bid the stock up after the company announced that holiday same-store sales rose 3.6 percent year over year.
Asian Markets
Asian markets were mostly lower Thursday after China's annual consumer inflation hit a seven-month low of 2.5 percent in December. The Nikkei was down nearly 1.5 percent to end the day at 15,880.33.
The Shanghai composite was down about one percent to close at 2027.62 and the Hang Seng, down about one percent to close at 22787.33
European Markets
Cautious trading is the story in Europe as investors wait for economic data for the ECB and BoE. The FTSE and the CAC are up about 0.3 percent. The DAX is up about one-half of a percent.
Commodities
Energy and metals are mostly higher with natural gas seeing some profit taking after gains from the recent cold snap in the United States.
WTI is up 0.5 percent at $92.77 per barrel and Brent is up 0.6 percent to $107.83. Natural gas is down about one percent to $4.16.
Gold and silver are trading around the flat line at $1,226.50 and $19.55 per ounce respectively and copper is down nearly one percent at $3.31.
Currencies
The euro is gaining back some of the ground it conceded to the dollar in recent days as Europe gears up for economic data. The euro is up about 0.3 percent against the dollar while the pound is flat against the dollar. The Japanese yen sits at 104.96 against the dollar-up about 0.1 percent.
Pre-Market Movers
Macy's (NYSE: M ) is up about five percent after saying it would cut 2,500 jobs and investors continue to bid the stock higher after better than expected same store sales. Bed Bath & Beyond (NYSE: BBY ) fell more than eight percent after the company reported disappointing earnings and same store sales were lower than expected.
Earnings
Monsanto (NYSE: MON ) reported EPS of $0.67, beating the consensus estimate of $0.64. Revenue of $3.14 billion beat consensus of $3.08 billion Constellation Brands (NYSE: STZ ) reported EPS of $1.10, beating the consensus estimate of $0.91. Revenue of $1.44 billion came in ahead of the consensus estimate of $1.38 billion. Alcoa (NYSE: AA ) will report fourth-quarter earnings after the bell today. Analysts are looking for EPS of $0.05 and revenues of $5.43 billion.
Weekly jobless claims are what U.S. investors are watching today at 8:30 am with all eyes focused on tomorrow's non-farm payrolls. Also out today, the Bloomberg Consumer Comfort Index at 9:45 am and the EIA Natural Gas Report at 10:30 am.
(c) 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Free Trading Education - Check out the free events taking place on Marketfy this week. Spaces are limited. Sign up today.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Alcoa (NYSE: AA ) will report fourth-quarter earnings after the bell today. Commodities Energy and metals are mostly higher with natural gas seeing some profit taking after gains from the recent cold snap in the United States. Pre-Market Movers Macy's (NYSE: M ) is up about five percent after saying it would cut 2,500 jobs and investors continue to bid the stock higher after better than expected same store sales.
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Alcoa (NYSE: AA ) will report fourth-quarter earnings after the bell today. The market bid the stock up after the company announced that holiday same-store sales rose 3.6 percent year over year. Pre-Market Movers Macy's (NYSE: M ) is up about five percent after saying it would cut 2,500 jobs and investors continue to bid the stock higher after better than expected same store sales.
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Alcoa (NYSE: AA ) will report fourth-quarter earnings after the bell today. The S&P was nearly flat losing 0.02 percent to close at 1,837.49, and the NASDAQ gained 0.3 percent to close at 4,165.81. The Shanghai composite was down about one percent to close at 2027.62 and the Hang Seng, down about one percent to close at 22787.33 European Markets Cautious trading is the story in Europe as investors wait for economic data for the ECB and BoE.
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Alcoa (NYSE: AA ) will report fourth-quarter earnings after the bell today. In the wake of the minutes the Dow was down about 0.4 percent at 16,362.74. Bed Bath & Beyond (NYSE: BBY ) fell more than eight percent after the company reported disappointing earnings and same store sales were lower than expected.
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1225.0
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2014-01-09 00:00:00 UTC
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Alcoa Misses Q4 Estimates on Smelting Ops - Analyst Blog
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AA
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https://www.nasdaq.com/articles/alcoa-misses-q4-estimates-smelting-ops-analyst-blog-2014-01-09
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nan
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nan
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Long-time industrial bellwether Alcoa ( AA ) reported earnings after the bell Thursday lower than expectations, though revenues came in stronger than expected. Alcoa reported an actual $0.04 earnings per share on revenues of $5.6 billion in its 4th quarter, higher than the $5213 million expected by the Zacks Consensus Estimate, but two cents lower on the bottom line, a 33% negative surprise in EPS.
The company tied $1.7 billion in costs related to legacy smelting operations, and realized aluminum prices fell 7% year over year (which has been a constant bugaboo for Alcoa and other aluminum companies for the past several quarters). Further, just today Alcoa announced it has reached a settlement with the SEC and DOJ regarding bribery charges to Bahraini officials. Though these numbers do not show up in AA's fiscal 2013 report, the company has agreed to pay five installments of $161 million over the next four years.
That said, free cash flow is positive at $498 million, with $1.4 billion in cash on hand. Improved liquidity was one of Alcoa's goals for the quarter.
So while aluminum prices seem to remain a sticking point for Alcoa and others such as Rio Tinto ( RIO ), the global economic recovery looks to be underway, which should be a long-term positive for Alcoa. It would also make today's agreed-upon settlement charges go down easier to know that overall revenues will pick up once global demand for aluminum products increases.
Finally, let's not forget Alcoa marks the unofficial start of earnings season. Let the games begin!
ALCOA INC (AA): Free Stock Analysis Report
RIO TINTO-ADR (RIO): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Though these numbers do not show up in AA's fiscal 2013 report, the company has agreed to pay five installments of $161 million over the next four years. Long-time industrial bellwether Alcoa ( AA ) reported earnings after the bell Thursday lower than expectations, though revenues came in stronger than expected. ALCOA INC (AA): Free Stock Analysis Report RIO TINTO-ADR (RIO): Free Stock Analysis Report To read this article on Zacks.com click here.
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Long-time industrial bellwether Alcoa ( AA ) reported earnings after the bell Thursday lower than expectations, though revenues came in stronger than expected. ALCOA INC (AA): Free Stock Analysis Report RIO TINTO-ADR (RIO): Free Stock Analysis Report To read this article on Zacks.com click here. Though these numbers do not show up in AA's fiscal 2013 report, the company has agreed to pay five installments of $161 million over the next four years.
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ALCOA INC (AA): Free Stock Analysis Report RIO TINTO-ADR (RIO): Free Stock Analysis Report To read this article on Zacks.com click here. Long-time industrial bellwether Alcoa ( AA ) reported earnings after the bell Thursday lower than expectations, though revenues came in stronger than expected. Though these numbers do not show up in AA's fiscal 2013 report, the company has agreed to pay five installments of $161 million over the next four years.
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Long-time industrial bellwether Alcoa ( AA ) reported earnings after the bell Thursday lower than expectations, though revenues came in stronger than expected. ALCOA INC (AA): Free Stock Analysis Report RIO TINTO-ADR (RIO): Free Stock Analysis Report To read this article on Zacks.com click here. Though these numbers do not show up in AA's fiscal 2013 report, the company has agreed to pay five installments of $161 million over the next four years.
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1226.0
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2014-01-09 00:00:00 UTC
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Alcoa Kicks Off Earnings Season With a Whimper
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AA
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https://www.nasdaq.com/articles/alcoa-kicks-earnings-season-whimper-2014-01-09
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nan
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nan
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The ECB and Bank of England both made no changes to their benchmark interest rates earlier today, as had been expected. ECB President Mario Draghi said in his usual press conference following the meeting that he expects rates to stay low for an extended period and that growth risks remain on the downside. Lastly, he said that the ECB stood ready to act if money-market conditions tightened, or if the danger of deflation became imminent.
US equities opened the day with a sharp sell-off; the S&P 500 (INDEXSP:.INX) was down as much as 7.5 points. However, some buyers appeared later in the session, bringing the benchmark index back near unchanged for the day. Telecom-sector stocks were the worst performers for the second day in a row, mostly due to concerns that the major wireless vendors are about to enter a price war.
Weekly jobless claims fell to 330,000 in the prior week, slightly better than the 335,000 estimate. The 4-week moving average moved down to 349,000 after the prior week's 358,800. However, due to the recent holiday season, weekly claims figures remain volatile.
West Texas Intermediate crude oil futures fell to their lowest level in seven months this afternoon, breaking multi-year support. Global commodity indices will begin their annual rebalancing next Wednesday. Indices will need to sell $2.8 billion of crude futures and buy $2.7 billion of brent crude in this year's rebalancing.
Natural gas inventories fell by 157 billion cubic feet in the past week, according to the EIA. Analysts had been expecting a range of -154 to -159 bcf. Natural gas futures fell 4.3% at the close of floor trading. Most traders had been waiting to see how strong the inventory figure would be. Because it wasn't a blowout, many looked to exit positions.
Alcoa ( AA ) unofficially got the fourth-quarter earnings season started today after the close. The company reported EPS of $0.04 vs. estimates of $0.06, but beat earnings solidly at $5.585 billion vs. estimates of $5.34 billion. The company wrote down $1.7 billion in goodwill, which hurt its bottom-line results, and it sees 2014 global aluminum demand growth at 7%. The stock traded down more than 3% in the post-market.
Tomorrow's Financial Outlook
Tomorrow morning, the Labor Department will release December 2013 nonfarm payrolls growth. Economists are expecting net growth of 197,000 payrolls in the month, and that the unemployment rate will remain unchanged at 7.0%. Because of the strong ADP private payrolls report yesterday, the market is well prepared for the nonfarm payrolls report to beat expectations.
Canada will also release its monthly employment change at the same time as the US. The UK will release manufacturing and industrial production data as well as construction output data for November 2013. Lastly, in the UK, NIESR will release its December 2013 GDP estimate.
There are no major earnings reports scheduled for tomorrow.
Twitter: @Minyanville
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Alcoa ( AA ) unofficially got the fourth-quarter earnings season started today after the close. ECB President Mario Draghi said in his usual press conference following the meeting that he expects rates to stay low for an extended period and that growth risks remain on the downside. Telecom-sector stocks were the worst performers for the second day in a row, mostly due to concerns that the major wireless vendors are about to enter a price war.
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Alcoa ( AA ) unofficially got the fourth-quarter earnings season started today after the close. However, due to the recent holiday season, weekly claims figures remain volatile. The company reported EPS of $0.04 vs. estimates of $0.06, but beat earnings solidly at $5.585 billion vs. estimates of $5.34 billion.
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Alcoa ( AA ) unofficially got the fourth-quarter earnings season started today after the close. Indices will need to sell $2.8 billion of crude futures and buy $2.7 billion of brent crude in this year's rebalancing. The company reported EPS of $0.04 vs. estimates of $0.06, but beat earnings solidly at $5.585 billion vs. estimates of $5.34 billion.
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Alcoa ( AA ) unofficially got the fourth-quarter earnings season started today after the close. Weekly jobless claims fell to 330,000 in the prior week, slightly better than the 335,000 estimate. Natural gas futures fell 4.3% at the close of floor trading.
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1227.0
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2014-01-09 00:00:00 UTC
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Shorts Historically Keen to Watch Alcoa Whether Up or Down off Earnings-Driven After-Hours Trade
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AA
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https://www.nasdaq.com/articles/shorts-historically-keen-watch-alcoa-whether-or-down-earnings-driven-after-hours-trade
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nan
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nan
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Alcoa ( AA ) is due with its Q4 results in tonight's after-hours. The stock is historically a short favorite when it comes to adding to downside momentum in the wake of its earnings-driven after-hours declines, as well as narrowing its after-hours gains in next-day action.
AA has recorded an after-hours decline in 20 of the last 39 quarters we've tracked, and 12 times, or 60% of the time, that decline has widened for deeper losses by the following day's regular session close.
On the upside, AA has seen an earnings-driven after-hours gain in 19 of the 39 quarters we've tracked over the last 10 years. In 14 of those quarters, 74% of the time, the after-hours gain has narrowed or reversed into the red in the following day's regular session. Longs should be cautious in this stock. The reversal pattern on gains makes it even more appealing for shorts to check out where any potential ceiling levels may develop in tonight's after-hours.
AA is expected to report Q4 earnings of $0.06 per share on revenue of $5.34 billion, according analysts polled by Capital IQ.
Here's the historical data:
On Oct. 8, 2013, AA gained 2.1% in night trade after topping Q3 expectations. The stock cut its gains slightly the next day, closing the Oct. 9 regular session up 2.0%.
On July 8, 2013, AA edged 0.1% lower in evening trade after beating on Q2 earnings and meeting revenue expectations. The stock maintained the same 0.1% decline in the close on July 9.
On April 8, 2013, AA dropped 1.3% in after-hours action after beating Q1 earnings estimates and meeting on revenue. The stock reversed course the next day, ending the April 9 regular session flat.
On Jan. 8, 2013, AA edged up 0.9% in after-hours trade after meeting Q4 earnings estimates and beating on revenue. The stock reversed direction the next day, closing the Jan. 9 regular session down 0.2%.
On Oct. 9, 2012, AA dipped 0.2% in night trade after beating on Q3 and reaffirming its forward targets. The stock added to its downside the next day, closing the Oct. 10 regular session off 4.6%.
On July 9, 2012, AA edged up 0.1% in after-hours trade after beating Q2 revenue expectations. The stock reversed sharply the next day, closing the July 10 regular session off 4.1%.
On April 10, 2012, AA advanced 5.5% in evening trade after blowing past Q1 Street expectations. The stock added modestly to its gains the next day, ending up 5.2% on April 11.
On Jan. 9, 2012, AA edged up 0.2% in after-hours action after topping Q4 expectations. The stock cut its upside slightly the next day, closing the Jan. 10 regular session up a thin 0.1%.
On Oct. 11, 2011, AA dropped 4.6% in evening trade after reporting mixed Q3 results. The stock cut its downside the next day, ending the Oct. 12 regular session off 2.4%.
On July 11, 2011, AA declined 1.3% in after-hours trade after meeting Q2 earnings estimates and beating on revenue. The stock narrowed its downside slightly the next day, ending the July 12 regular session off 1.26%.
On April 11, 2011, AA shed 3.2% in evening trade after beating earnings estimates and meeting on revenue. The stock moved deeper south the following day, closing the April 12 regular session off 6%.
On Jan. 10, 2011, AA declined 1.7% in after-hours action after beating Q4 expectations. The stock cut its downside slightly in the Jan. 11 regular session, ending Jan. 11 trade off 0.9%.
On Oct. 7, 2010, AA gained 2.5% in after-hours trade after posting better-than-expected Q3 results. The stock added to its upside the following day, closing the Oct. 8 regular session up 5.6%.
On July 12, 2010, AA advanced 3% in evening trde after topping earnings expectations. The stock lost a chunk of its gain the following day, closing the July 13 regular session up 1.2%.
On April 12, 2010, AA edged 0.4% lower after reporting a narrower year-over-year loss and just missing revenue expectations. The stock added to its downside in the April 13 regular session, ending down 1.5%.
On Jan. 11, 2010, AA shed 4.9% in after-hours trade after missing earnings expectations and beating on revenue. The stock added to its downside the following day, sliding 11% by the closing bell on Jan. 12.
On Oct. 7, 2009, AA firmed 5.6% in after-hours trade after posting an unexpected profit. The stock lost the bulk of its gains the following day, ending the Oct. 8 regular session up 1%.
On July 8, 2009, the stock gained 4% in evening trading after AA beat with Q2 results. Shares closed down 2.4% the following day.
On April 7, 2009, AA declined 3.4% in after-hours action after posting a sharp year-over-year decline in its quarterly results. It reversed direction the following day, ending the April 8 regular session up 3.4%.
On Jan. 12, 2009, AA edged down 0.6% in after-hours trade after reporting a year-over-year decline in revenue and swinging to a loss. The stock tumbled deeper in the red the next day, losing 5% by the close on Jan. 13.
On Oct. 7, 2008, AA declined 3.6% in after-hours trade after missing earnings expectations and announcing it was suspending its stock buyback. The stock tumbled lower in the Oct. 8 regular session, losing 12% by the closing bell.
On July 8, 2008, the stock gained 3.7% during evening trading as AA beat with Q2 results. The stock reversed and closed down 2.4% the next day.
On April 7, 2008, AA edged up 0.03% in after-hours trade after the company missed the Street's estimates by a penny-a-share but beat revenue estimates. The gain reversed the following day with shares ending lower by 0.7%.
On Jan. 9, 2008, the stock gained 3.2% after AA reported ahead of the Street with Q4 and FY sales. The gain was clipped to 0.6% the next day.
On Oct. 9, 2007, AA edged up 0.3% in after-hours trade after beating on sales but missing on earnings. It turned south the following day, losing 2.4% by the closing bell.
On July 9, 2007, AA dipped 0.7% in night trade after Q2 profits slipped from a year ago on lower-than-expected sales. Shares eased further the next day, closing the regular session down 1.6%.
On April 10, 2007, AA came off a trading halt and edged up 2.2% after topping Q1 estimates. However, shares could not hold onto that momentum and closed the following day session up only 0.5%.
On Jan. 9, 2007, AA gained 4.7% in the evening hours after the company reported ahead of the Street and the year-ago period with Q4 results. The stock gained 6% the next day.
On Oct. 10, 2006, AA reported improved year-over-year results but guided for sales shy of the then-current Street view. The stock declined 5.9% in after-hours trade, but narrowed a bit in the Oct. 11 regular session, ending the day down 5%.
On July 10, 2006, AA dropped 4.5% in after-hours trade when the company reported Q2 sales that missed estimates. The shares fell slightly more the following day, ending the regular session down 4.8%.
AA ramped 5.9% higher the night of April 10 after the company posted results up sharply over year ago levels. It failed to add to the upside momentum the next day but still managed to see a 3.8% rise by the close on April 11.
On Jan. 9, 2006, shares fell 3% after the company missed by 2 cents with Q4 EPS and was about in line with sales. The loss expanded modestly to 3.1% the next day.
On Oct. 10, 2005, Alcoa edged up 1.8% in evening trade after the company beat on EPS but posted revenue just shy of the Street target. It narrowed its upside slightly the next day, adding only 0.8% between the bells.
On July 7, 2005 Alcoa advanced 2.5% in after-hours trading after the company beat the Street on both revenue and earnings. It firmed even higher in the July 8 regular session, rising 4.2% by the closing bell.
On April 6, 2005 Alcoa added 2.2% in after-hours trade after the company edged out Q1 earnings estimates but came in light on the revenue side. The stock pushed higher on April 7, rising 4.9% by that day's regular session close.
On Jan. 10, 2005, Alcoa missed earnings and revenue expectations and the stock edged down 1% in that night's after-hours trade. It was hit with more aggressive downside trade on Jan. 11, ending the regular session off 2.6%.
On Oct. 7, 2004 Alcoa lost 1.4% in after-hours trade after the company reported in-line EPS but came in shy on the revenue line. The stock added to its negative momentum on Oct. 8, closing out the bell-to-bell session with a 2% decline.
Back on June 7 of 2004 Alcoa was hit for a 3.5% decline in evening play after the company missed on earnings and posted better-than-expected revenue results. The stock managed to pare its losses the next day, closing out the day session with a more modest 0.6% decline.
Finally, on April 6, 2004 Alcoa slimmed down 3.7% in night trade after the company posted revenue ahead of estimates but missed on EPS. It ended the April 7 regular session with a more aggressive 5% decline.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Alcoa ( AA ) is due with its Q4 results in tonight's after-hours. AA has recorded an after-hours decline in 20 of the last 39 quarters we've tracked, and 12 times, or 60% of the time, that decline has widened for deeper losses by the following day's regular session close. On the upside, AA has seen an earnings-driven after-hours gain in 19 of the 39 quarters we've tracked over the last 10 years.
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On July 8, 2013, AA edged 0.1% lower in evening trade after beating on Q2 earnings and meeting revenue expectations. On April 8, 2013, AA dropped 1.3% in after-hours action after beating Q1 earnings estimates and meeting on revenue. On April 12, 2010, AA edged 0.4% lower after reporting a narrower year-over-year loss and just missing revenue expectations.
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AA has recorded an after-hours decline in 20 of the last 39 quarters we've tracked, and 12 times, or 60% of the time, that decline has widened for deeper losses by the following day's regular session close. On April 7, 2008, AA edged up 0.03% in after-hours trade after the company missed the Street's estimates by a penny-a-share but beat revenue estimates. Alcoa ( AA ) is due with its Q4 results in tonight's after-hours.
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On July 8, 2009, the stock gained 4% in evening trading after AA beat with Q2 results. On July 8, 2008, the stock gained 3.7% during evening trading as AA beat with Q2 results. Alcoa ( AA ) is due with its Q4 results in tonight's after-hours.
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1228.0
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2014-01-09 00:00:00 UTC
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After Hours Most Active for Jan 9, 2014 : AA, MU, DAN, BAC, ITUB, GPS, QQQ, TWTR, ATML, PSEC, SHLD, IMMU
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AA
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https://www.nasdaq.com/articles/after-hours-most-active-jan-9-2014-aa-mu-dan-bac-itub-gps-qqq-twtr-atml-psec-shld-immu
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nan
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nan
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The NASDAQ 100 After Hours Indicator is down -.24 to 3,552.34. The total After hours volume is currently 20,245,626 shares traded.
The following are the most active stocks for the after hours session :
Alcoa Inc. ( AA ) is -0.45 at $10.24, with 2,109,493 shares traded. RTT News Reports: Alcoa Slips To Loss In Q4 - Quick Facts
Micron Technology, Inc. ( MU ) is +0.0046 at $23.24, with 1,830,846 shares traded. Over the last four weeks they have had 4 up revisions for the earnings forecast, for the fiscal quarter ending Feb 2014. The consensus EPS forecast is $0.54. MU's current last sale is 83.02% of the target price of $28.
Dana Holding Corporation ( DAN ) is unchanged at $19.90, with 1,210,406 shares traded. As reported by Zacks, the current mean recommendation for DAN is in the "buy range".
Bank of America Corporation ( BAC ) is +0.01 at $16.84, with 1,072,648 shares traded.BAC is scheduled to provide an earnings report on 1/15/2014, for the fiscal quarter ending Dec2013. The consensus earnings per share forecast is 0.27 per share, which represents a 3 percent increase over the EPS one Year Ago
Itau Unibanco Banco Holding SA ( ITUB ) is unchanged at $12.92, with 629,800 shares traded. As reported by Zacks, the current mean recommendation for ITUB is in the "buy range".
Gap, Inc. (The) ( GPS ) is +0.73 at $40.15, with 571,013 shares traded. GPS's current last sale is 91.25% of the target price of $44.
PowerShares QQQ Trust, Series 1 ( QQQ ) is +0.03 at $87.04, with 546,217 shares traded. This represents a 31.96% increase from its 52 Week Low.
Twitter, Inc. ( TWTR ) is -0.13 at $56.92, with 505,434 shares traded. TWTR's current last sale is 132.37% of the target price of $43.
Atmel Corporation ( ATML ) is +0.0017 at $8.34, with 495,881 shares traded. As reported by Zacks, the current mean recommendation for ATML is in the "buy range".
Prospect Capital Corporation ( PSEC ) is unchanged at $11.23, with 440,223 shares traded. PSEC's current last sale is 93.58% of the target price of $12.
Sears Holdings Corporation ( SHLD ) is -5.57 at $37.00, with 434,549 shares traded.
Immunomedics, Inc. ( IMMU ) is +0.7 at $5.88, with 398,348 shares traded. As reported in the last short interest update the days to cover for IMMU is 10.824584; this calculation is based on the average trading volume of the stock.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The following are the most active stocks for the after hours session : Alcoa Inc. ( AA ) is -0.45 at $10.24, with 2,109,493 shares traded. RTT News Reports: Alcoa Slips To Loss In Q4 - Quick Facts Micron Technology, Inc. ( MU ) is +0.0046 at $23.24, with 1,830,846 shares traded. Bank of America Corporation ( BAC ) is +0.01 at $16.84, with 1,072,648 shares traded.BAC is scheduled to provide an earnings report on 1/15/2014, for the fiscal quarter ending Dec2013.
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The following are the most active stocks for the after hours session : Alcoa Inc. ( AA ) is -0.45 at $10.24, with 2,109,493 shares traded. The total After hours volume is currently 20,245,626 shares traded. Dana Holding Corporation ( DAN ) is unchanged at $19.90, with 1,210,406 shares traded.
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The following are the most active stocks for the after hours session : Alcoa Inc. ( AA ) is -0.45 at $10.24, with 2,109,493 shares traded. Dana Holding Corporation ( DAN ) is unchanged at $19.90, with 1,210,406 shares traded. The consensus earnings per share forecast is 0.27 per share, which represents a 3 percent increase over the EPS one Year Ago Itau Unibanco Banco Holding SA ( ITUB ) is unchanged at $12.92, with 629,800 shares traded.
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The following are the most active stocks for the after hours session : Alcoa Inc. ( AA ) is -0.45 at $10.24, with 2,109,493 shares traded. The NASDAQ 100 After Hours Indicator is down -.24 to 3,552.34. Over the last four weeks they have had 4 up revisions for the earnings forecast, for the fiscal quarter ending Feb 2014.
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1229.0
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2014-01-09 00:00:00 UTC
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After-Hours Earnings Report for January 9, 2014 : AA, INFY, PSMT, SNX, HELE, PRGS, EOPN, ANGO
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AA
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https://www.nasdaq.com/articles/after-hours-earnings-report-january-9-2014-aa-infy-psmt-snx-hele-prgs-eopn-ango-2014-01-09
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nan
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The following companies are expected to report earnings after hours on 01/09/2014. Visit our Earnings Calendar for a full list of expected earnings releases.
Alcoa Inc. ( AA ) is reporting for the quarter ending December 31, 2013. The mining company's consensus earnings per share forecast from the 13 analysts that follow the stock is $0.06. This value represents a no change for the same quarter last year. In the past year AA has met analyst expectations twice and beat the expectations the other two quarters. Zacks Investment Research reports that the 2013 Price to Earnings ratio for AA is 30.94 vs. an industry ratio of 4.00, implying that they will have a higher earnings growth than their competitors in the same industry.
Infosys Limited ( INFY ) is reporting for the quarter ending December 31, 2013. The information technology services company's consensus earnings per share forecast from the 8 analysts that follow the stock is $0.75. This value represents a 1.32% decrease compared to the same quarter last year. In the past year INFY has beat the expectations every quarter. The highest one was in the 3rd calendar quarter where they beat the consensus by 4.29%. The "days to cover" for this stock exceeds 14 days. Zacks Investment Research reports that the 2014 Price to Earnings ratio for INFY is 18.90 vs. an industry ratio of -6.30, implying that they will have a higher earnings growth than their competitors in the same industry.
PriceSmart, Inc. ( PSMT ) is reporting for the quarter ending November 30, 2013. The discount retail company's consensus earnings per share forecast from the 3 analysts that follow the stock is $0.73. This value represents a 10.61% increase compared to the same quarter last year. PSMT missed the consensus earnings per share in the 2nd calendar quarter of 2013 by -4.69%. The "days to cover" for this stock exceeds 13 days. Zacks Investment Research reports that the 2014 Price to Earnings ratio for PSMT is 34.48 vs. an industry ratio of 20.20, implying that they will have a higher earnings growth than their competitors in the same industry.
Synnex Corporation ( SNX ) is reporting for the quarter ending November 30, 2013. The business software company's consensus earnings per share forecast from the 5 analysts that follow the stock is $1.17. This value represents a 0.86% increase compared to the same quarter last year. In the past year SNX has met analyst expectations once and beat the expectations the other three quarters. Zacks Investment Research reports that the 2013 Price to Earnings ratio for SNX is 15.53 vs. an industry ratio of 178.10.
Helen of Troy Limited ( HELE ) is reporting for the quarter ending November 30, 2013. The cosmetic & toiletries company's consensus earnings per share forecast from the 2 analysts that follow the stock is $1.09. This value represents a 7.63% decrease compared to the same quarter last year. HELE missed the consensus earnings per share in the 3rd calendar quarter of 2013 by -1.37%. Zacks Investment Research reports that the 2014 Price to Earnings ratio for HELE is 13.62 vs. an industry ratio of 21.20.
Progress Software Corporation ( PRGS ) is reporting for the quarter ending November 30, 2013. The computer software company's consensus earnings per share forecast from the 3 analysts that follow the stock is $0.34. This value represents a 112.50% increase compared to the same quarter last year. PRGS missed the consensus earnings per share in the 4th calendar quarter of 2012 by -42.86%. Zacks Investment Research reports that the 2013 Price to Earnings ratio for PRGS is 27.35 vs. an industry ratio of 7.20, implying that they will have a higher earnings growth than their competitors in the same industry.
E2open, Inc. ( EOPN ) is reporting for the quarter ending November 30, 2013. The internet software company's consensus earnings per share forecast from the 2 analysts that follow the stock is $-0.25. This value represents a 1350.00% decrease compared to the same quarter last year. EOPN missed the consensus earnings per share in the 1st calendar quarter of 2013 by -50%. The "days to cover" for this stock exceeds 25 days. Zacks Investment Research reports that the 2014 Price to Earnings ratio for EOPN is -31.52 vs. an industry ratio of 75.70.
AngioDynamics, Inc. ( ANGO ) is reporting for the quarter ending November 30, 2013. The medical instruments company's consensus earnings per share forecast from the 2 analysts that follow the stock is $0.07. This value represents a 30.00% decrease compared to the same quarter last year. In the past year ANGO has beat the expectations every quarter. The highest one was in the 3rd calendar quarter where they beat the consensus by 33.33%. Zacks Investment Research reports that the 2014 Price to Earnings ratio for ANGO is 51.18 vs. an industry ratio of 11.10, implying that they will have a higher earnings growth than their competitors in the same industry.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Alcoa Inc. ( AA ) is reporting for the quarter ending December 31, 2013. In the past year AA has met analyst expectations twice and beat the expectations the other two quarters. Zacks Investment Research reports that the 2013 Price to Earnings ratio for AA is 30.94 vs. an industry ratio of 4.00, implying that they will have a higher earnings growth than their competitors in the same industry.
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Zacks Investment Research reports that the 2013 Price to Earnings ratio for AA is 30.94 vs. an industry ratio of 4.00, implying that they will have a higher earnings growth than their competitors in the same industry. Alcoa Inc. ( AA ) is reporting for the quarter ending December 31, 2013. In the past year AA has met analyst expectations twice and beat the expectations the other two quarters.
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Zacks Investment Research reports that the 2013 Price to Earnings ratio for AA is 30.94 vs. an industry ratio of 4.00, implying that they will have a higher earnings growth than their competitors in the same industry. Alcoa Inc. ( AA ) is reporting for the quarter ending December 31, 2013. In the past year AA has met analyst expectations twice and beat the expectations the other two quarters.
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Alcoa Inc. ( AA ) is reporting for the quarter ending December 31, 2013. In the past year AA has met analyst expectations twice and beat the expectations the other two quarters. Zacks Investment Research reports that the 2013 Price to Earnings ratio for AA is 30.94 vs. an industry ratio of 4.00, implying that they will have a higher earnings growth than their competitors in the same industry.
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1230.0
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2014-01-08 00:00:00 UTC
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After Hours Most Active for Jan 8, 2014 : LYG, PAYX, QQQ, TSM, BAC, DNR, M, AA, BBBY, INTC, MSFT, FB
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AA
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https://www.nasdaq.com/articles/after-hours-most-active-jan-8-2014-lyg-payx-qqq-tsm-bac-dnr-m-aa-bbby-intc-msft-fb-2014-01
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nan
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nan
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The NASDAQ 100 After Hours Indicator is down -1.32 to 3,566.22. The total After hours volume is currently 26,746,420 shares traded.
The following are the most active stocks for the after hours session :
Lloyds Banking Group Plc ( LYG ) is -0.01 at $5.60, with 9,965,520 shares traded., following a 52-week high recorded in today's regular session.
Paychex, Inc. ( PAYX ) is -0.27 at $44.49, with 2,718,296 shares traded. Over the last four weeks they have had 6 up revisions for the earnings forecast, for the fiscal quarter ending Nov 2014. The consensus EPS forecast is $0.46. PAYX's current last sale is 108.51% of the target price of $41.
PowerShares QQQ Trust, Series 1 ( QQQ ) is +0.09 at $87.40, with 2,623,555 shares traded. This represents a 32.5% increase from its 52 Week Low.
Taiwan Semiconductor Manufacturing Company Ltd. ( TSM ) is +0.01 at $17.10, with 1,371,639 shares traded. As reported by Zacks, the current mean recommendation for TSM is in the "strong buy range".
Bank of America Corporation ( BAC ) is +0.021 at $16.60, with 1,226,887 shares traded.BAC is scheduled to provide an earnings report on 1/15/2014, for the fiscal quarter ending Dec2013. The consensus earnings per share forecast is 0.27 per share, which represents a 3 percent increase over the EPS one Year Ago
Denbury Resources Inc. ( DNR ) is +0.0033 at $16.66, with 1,112,809 shares traded. As reported by Zacks, the current mean recommendation for DNR is in the "buy range".
Macy's Inc ( M ) is +2.68 at $54.52, with 1,049,838 shares traded. As reported by Zacks, the current mean recommendation for M is in the "buy range".
Alcoa Inc. ( AA ) is +0.01 at $10.84, with 912,914 shares traded.AA is scheduled to provide an earnings report on 1/9/2014, for the fiscal quarter ending Dec2013. The consensus earnings per share forecast is 0.06 per share, which represents a 6 percent increase over the EPS one Year Ago
Bed Bath & Beyond Inc. ( BBBY ) is -6.33 at $73.35, with 681,874 shares traded. RTT News Reports: Bed Bath & Beyond Q3 Profit Rises - Quick Facts
Intel Corporation ( INTC ) is -0.0441 at $25.39, with 605,419 shares traded. As reported in the last short interest update the days to cover for INTC is 7.135101; this calculation is based on the average trading volume of the stock.
Microsoft Corporation ( MSFT ) is +0.04 at $35.80, with 601,751 shares traded. MSFT's current last sale is 94.21% of the target price of $38.
Facebook, Inc. ( FB ) is unchanged at $58.23, with 551,114 shares traded. As reported by Zacks, the current mean recommendation for FB is in the "buy range".
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Alcoa Inc. ( AA ) is +0.01 at $10.84, with 912,914 shares traded.AA is scheduled to provide an earnings report on 1/9/2014, for the fiscal quarter ending Dec2013. Bank of America Corporation ( BAC ) is +0.021 at $16.60, with 1,226,887 shares traded.BAC is scheduled to provide an earnings report on 1/15/2014, for the fiscal quarter ending Dec2013. RTT News Reports: Bed Bath & Beyond Q3 Profit Rises - Quick Facts Intel Corporation ( INTC ) is -0.0441 at $25.39, with 605,419 shares traded.
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Alcoa Inc. ( AA ) is +0.01 at $10.84, with 912,914 shares traded.AA is scheduled to provide an earnings report on 1/9/2014, for the fiscal quarter ending Dec2013. Bank of America Corporation ( BAC ) is +0.021 at $16.60, with 1,226,887 shares traded.BAC is scheduled to provide an earnings report on 1/15/2014, for the fiscal quarter ending Dec2013. The consensus earnings per share forecast is 0.27 per share, which represents a 3 percent increase over the EPS one Year Ago Denbury Resources Inc. ( DNR ) is +0.0033 at $16.66, with 1,112,809 shares traded.
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Alcoa Inc. ( AA ) is +0.01 at $10.84, with 912,914 shares traded.AA is scheduled to provide an earnings report on 1/9/2014, for the fiscal quarter ending Dec2013. Bank of America Corporation ( BAC ) is +0.021 at $16.60, with 1,226,887 shares traded.BAC is scheduled to provide an earnings report on 1/15/2014, for the fiscal quarter ending Dec2013. The consensus earnings per share forecast is 0.27 per share, which represents a 3 percent increase over the EPS one Year Ago Denbury Resources Inc. ( DNR ) is +0.0033 at $16.66, with 1,112,809 shares traded.
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Alcoa Inc. ( AA ) is +0.01 at $10.84, with 912,914 shares traded.AA is scheduled to provide an earnings report on 1/9/2014, for the fiscal quarter ending Dec2013. Over the last four weeks they have had 6 up revisions for the earnings forecast, for the fiscal quarter ending Nov 2014. As reported by Zacks, the current mean recommendation for TSM is in the "strong buy range".
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1231.0
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2014-01-08 00:00:00 UTC
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FOMC Minutes Indicate Waning Enthusiasm for QE
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AA
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https://www.nasdaq.com/articles/fomc-minutes-indicate-waning-enthusiasm-qe-2014-01-08
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nan
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nan
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Japan's Prime Minister Shinzo Abe published an editorial last night on the World Economic Forum, stating that he sees Japan on the precipice of strong wage gains after more than a decade of stagnation. The PM feels strongly about this positive development in Japan after recent meetings with government, business, and labor leaders. Moreover, he feels that the 5-trillion-yen fiscal-stimulus plan should far outweigh the negative effects of the planned sales-tax increases in Japan.
Also overnight we heard comments from IMF Managing Director Christine Lagarde. She stated that the Fund intends to upgrade its outlook for global economic growth in the next three weeks. Recently, Lagarde mentioned that the ongoing recovery in developed markets may hamper additional capital investment in emerging markets.
ADP reported that companies added 238,000 private jobs in December 2013, beating the estimate of 200,000. The November 2013 payroll growth was revised up to 229,000 from 215,000. This positive report implies Friday's nonfarm payrolls will be stronger than the economist estimate of 195,000.
US equities mustered some strength early in the session, but failed to hold onto these gains by the close of trading. The S&P 500 (INDEXSP:.INX) declined by 0.02%. Telecom-sector stocks were the worst performers today, losing 1.68%, partly due to the stocks trading ex-dividend. Additionally, there was a block sale of 7 million shares of AT&T ( T ) in the pre-market, which was worth $240 million. Energy stocks also suffered due to losses of greater than 1% in both natural gas and crude oil futures.
The Fed released the minutes of its December 2013 FOMC meeting. There was a strong consensus by the committee to wind down asset purchases this year in measured steps due to cumulative progress in the labor market. Additionally, members had growing concerns that the benefits of asset purchases were waning; some members had pushed for a larger reduction in purchases at the December meeting.
Tomorrow's Financial Outlook
Tomorrow morning the weekly jobless claims report will be released by the Labor Department for claims submitted in the week ending Saturday, January 4. The report will likely be higher than expectations, due to seasonal issues associated with the New Year's Day holiday. Next week's report should begin to show the true trend in claims.
At 10:00 a.m. EST, the House's monetary policy subcommittee will hold a meeting to discuss the Fed's bond-buying programs.
The ECB and Bank of England will release their monthly monetary-policy decisions tomorrow morning before the US markets open. Due to continually weak inflation readings in Europe, it is very likely the ECB will continue to put its full efforts into deflation-fighting measures. Also scheduled for release tomorrow is German industrial production and eurozone consumer confidence data.
Alcoa ( AA ) will kick off earnings season with its report tomorrow after the close. Also scheduled to report is Texas Industries ( TXI ) and Supervalu ( SVU ).
Twitter: @Minyanville
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Alcoa ( AA ) will kick off earnings season with its report tomorrow after the close. The PM feels strongly about this positive development in Japan after recent meetings with government, business, and labor leaders. There was a strong consensus by the committee to wind down asset purchases this year in measured steps due to cumulative progress in the labor market.
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Alcoa ( AA ) will kick off earnings season with its report tomorrow after the close. The PM feels strongly about this positive development in Japan after recent meetings with government, business, and labor leaders. Tomorrow's Financial Outlook Tomorrow morning the weekly jobless claims report will be released by the Labor Department for claims submitted in the week ending Saturday, January 4.
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Alcoa ( AA ) will kick off earnings season with its report tomorrow after the close. There was a strong consensus by the committee to wind down asset purchases this year in measured steps due to cumulative progress in the labor market. Additionally, members had growing concerns that the benefits of asset purchases were waning; some members had pushed for a larger reduction in purchases at the December meeting.
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Alcoa ( AA ) will kick off earnings season with its report tomorrow after the close. The PM feels strongly about this positive development in Japan after recent meetings with government, business, and labor leaders. This positive report implies Friday's nonfarm payrolls will be stronger than the economist estimate of 195,000.
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1232.0
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2014-01-08 00:00:00 UTC
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Markets End Mixed, Despite Positive Jobs Report
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AA
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https://www.nasdaq.com/articles/markets-end-mixed-despite-positive-jobs-report-2014-01-08
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nan
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nan
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"We are starting to receive fourth-quarter earnings reports, although most consider Alcoa Inc's ( AA ) report on Thursday to be the unofficial start of the earnings season," said Schaeffer's Senior Equity Analyst Joe Bell, CMT. "The ADP employment report was released, and the jobs number solidly beat most expectations. Many participants viewed this improvement in the labor market as a sign that the Fed will be more likely to continue tapering its asset-buying program." As a result, the Dow Jones Industrial Average (DJI) erased much of yesterday's gains.
Continue reading for more on today's market, including
Front-month traders converged on these three well-known stocks in the options pits.
Find out why Kraft Foods Group Inc ( KRFT ) could ruin your Super Bowl party.
This mining concern attracted a crop of call players, who bet on a quick pop this week.
plus...
The Fed released its meeting minutes from December, the private sector added more jobs than expected, and Microsoft Corporation ( MSFT ) call volume spiked, despite losing a notable CEO contender.
The Dow Jones Industrial Average (DJI - 16,462.74) tumbled at the start of the session, and ended up finishing 68.2 points, or 0.4%, lower on the day. The blue-chip index's 10 advancers were led by Du Pont ( DD ) -- which gained 1.3% -- while MSFT paced the 20 decliners with a loss of 1.8%.
The S&P 500 Index (SPX - 1,837.49) experienced some choppy price action throughout the day, and was down just 0.4 point, or 0.02%, by the closing bell. Meanwhile, the Nasdaq Composite (COMP - 4,165.61) outperformed its peers by tacking on 12.4 points, or 0.3%.
Elsewhere, the CBOE Volatility Index (VIX - 12.87) was parked in positive territory for most of the day, but finished roughly 0.1 point, or 0.4%, lower.
A Trader's Take
"Overall, the broad market was mixed, with technology taking on a leadership role, and the Dow clearly underperforming," Bell continued. "The minutes for the December Fed meeting were also released late in the day, but we didn't see any widespread response from the market either way."
5 Items on Our Radar Today
According to the latest Federal Open Market Committee (FOMC) minutes , the central bank voted to taper amid concerns that the benefits of its asset-buying program were starting to erode. A survey included in the minutes revealed that "a majority of participants judged that the marginal efficacy of purchases was likely declining as purchases continue." (MarketWatch)
Payroll giant Automatic Data Processing ( ADP ) said the private sector created 238,000 jobs in December, marking the best monthly gain of 2013. Economists, on average, were expecting the addition of just 200,000 new positions. (CNBC)
Uptrending Yahoo! Inc. (YHOO) received some bullish analyst attention at Susquehanna ahead of the opening bell.
Call players zeroed in on Baidu Inc (ADR) (BIDU) as the Chinese Internet stock surged to a record high this morning.
Microsoft Corporation ( MSFT ) call activity ramped up, despite the stock's drop in the wake of some CEO-related developments.
For a look at today's options movers and commodities activity, head to page 2.
Commodities
Crude futures faltered today, as reports of a smaller-than-anticipated drop in oil supplies dragged prices lower. By the end of the session, the February contract was off $1.34, or 1.4%, to finish at $92.33 per barrel -- the lowest closing price for a most active contract since late November.
Meanwhile, gold futures suffered their third straight decline amid stronger-than-expected employment data, as February-dated gold lost $4.10, or 0.3%, to settle at $1,225.50 an ounce.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
All Rights Reserved. Unauthorized reproduction of any SIR publication is strictly prohibited.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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"We are starting to receive fourth-quarter earnings reports, although most consider Alcoa Inc's ( AA ) report on Thursday to be the unofficial start of the earnings season," said Schaeffer's Senior Equity Analyst Joe Bell, CMT. The Fed released its meeting minutes from December, the private sector added more jobs than expected, and Microsoft Corporation ( MSFT ) call volume spiked, despite losing a notable CEO contender. 5 Items on Our Radar Today According to the latest Federal Open Market Committee (FOMC) minutes , the central bank voted to taper amid concerns that the benefits of its asset-buying program were starting to erode.
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"We are starting to receive fourth-quarter earnings reports, although most consider Alcoa Inc's ( AA ) report on Thursday to be the unofficial start of the earnings season," said Schaeffer's Senior Equity Analyst Joe Bell, CMT. As a result, the Dow Jones Industrial Average (DJI) erased much of yesterday's gains. The Fed released its meeting minutes from December, the private sector added more jobs than expected, and Microsoft Corporation ( MSFT ) call volume spiked, despite losing a notable CEO contender.
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"We are starting to receive fourth-quarter earnings reports, although most consider Alcoa Inc's ( AA ) report on Thursday to be the unofficial start of the earnings season," said Schaeffer's Senior Equity Analyst Joe Bell, CMT. The Fed released its meeting minutes from December, the private sector added more jobs than expected, and Microsoft Corporation ( MSFT ) call volume spiked, despite losing a notable CEO contender. The Dow Jones Industrial Average (DJI - 16,462.74) tumbled at the start of the session, and ended up finishing 68.2 points, or 0.4%, lower on the day.
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"We are starting to receive fourth-quarter earnings reports, although most consider Alcoa Inc's ( AA ) report on Thursday to be the unofficial start of the earnings season," said Schaeffer's Senior Equity Analyst Joe Bell, CMT. Many participants viewed this improvement in the labor market as a sign that the Fed will be more likely to continue tapering its asset-buying program." Continue reading for more on today's market, including Front-month traders converged on these three well-known stocks in the options pits.
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1233.0
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2014-01-07 00:00:00 UTC
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Alcoa Earnings Preview: Low Aluminum Prices Will Weigh On Results
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AA
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https://www.nasdaq.com/articles/alcoa-earnings-preview-low-aluminum-prices-will-weigh-results-2014-01-07
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nan
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nan
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Alcoa ( AA ) will report its fourth quarter earnings result on Thursday, January 9. We expect the company to record soft earnings on revenues that are in line with the consensus estimate of $5.76 billion. Still, but most investors will watch out for any cues on its outlook into the first quarter and next year. Aluminum prices went downhill in 2013 and demand remained sluggish. The flat-rolled and engineered products divisions may partially offset the negative impact of low aluminum prices on the primary metals business.
Aluminum prices on the London Metal Exchange, which stayed above $2,000 per ton in Q4 2012, stayed between $1,700-$1,800 per ton for the major part of Q4 2013. On average, prices in 2013 have been much lower than in 2012. Alcoa uses LME aluminum prices as benchmark for its own prices.
We have a Trefis price estimate of $7for Alcoa , which represents 32% downside to the current market price.
See Full Analysis for Alcoa Here
Importance Of Aluminum Prices For Alcoa
Alcoa is organized into four business segments: Alumina, which mines bauxite and processes it into the precursor to aluminum; Primary Metals, which smelts aluminum; Flat-rolled Products, which makes sheets used in beverage cans as well as airplane wings and car parts; and Engineered Products and Solutions, which makes aerospace fasteners, turbine blades and truck wheels. While the Flat-rolled and Engineered Products and Solutions divisions produce value-added products and thus generate higher margins, a significant proportion of Alcoa's revenues still comes from the Alumina and Primary Metals divisions. This makes its earnings highly sensitive to aluminum prices.
The Aluminum Price Trend In Q4
The European debt crisis and slowing Chinese growth have contributed to the decline in aluminum demand and its prices over the last few quarters. The long term expectations for these factors remain largely unchanged, so weakness in prices is expected to persist in the foreseeable future.
One factor that might explain falling prices is the persistently high aluminum inventory relative to demand, which may be keeping a lid on London Metal Exchange (LME) prices for aluminum. While LME prices are not the actual realized prices for Alcoa, they do indicate a broader trend in global aluminum prices. Also, despite inventories being at a record high, market forces have failed to rationalize supply through shutdown of smelting capacity. Companies like Alcoa and Rusal have announced smelting capacity cuts, but the same cannot be said of Chinese companies. This is primarily due to state intervention in the form of provision of subsidies or renegotiated power contracts to smelters, which serves as a disincentive to cut production. In fact, a few months back one Chinese company had even announced plans to add 550,000 tonnes of smelting capacity by the end of this year to take advantage of cheap power.
Concentrating On Value Added Products
In face of falling aluminum prices, Alcoa is concentrating on expanding its flat-rolled and engineered products businesses, which generate higher margins. The company is targeting the automotive and aerospace sectors in particular. These business divisions may cushion the impact of weak aluminum prices for the company's fourth quarter results.
In the fourth quarter, Alcoa signed a co-operation agreement with Russia's VSMPO-AVISMA to target aerospace demand for high-end titanium and aluminum products. VSMPO-AVISMA is the world's largest manufacturer of titanium ingots and forged products, and the agreement marks the first step towards the creation of a joint venture between the two companies. Alcoa bought the Samara and Belaya Kalitva aluminium processing plants in Russia in 2005. Since then, it has invested more than $540 million in building facilities, including modern control technology for a forging press that remains the sole global source of some particularly large forging products. The titanium forgings that Alcoa and VSMPO-AVISMA aim to produce at Samara will thus be technologically difficult for any competitor to replicate in the short term.
In this quarter, Alcoa also announced the signing of a deal worth about $110 million, to supply titanium and aluminum parts to aircraft manufacturer Airbus. This deal shows that traditional producers of metallic jetliner parts are fighting back against competition from sophisticated composite materials, which have gained favor among aircraft manufacturers in the recent years. ((Alcoa Signs Long-Term Agreement with Airbus for Value-Add Titanium and Aluminum Aerospace Parts, Alcoa News Release))
What We Would Like To Know In The Earnings Call
In its Q3 2013earnings conference call Alcoa's management had maintained 2013 growth projections of 9-10% for the aerospace segment, 2-5% for the U.S. automotive segment and 12-19% in the Chinese automotive segment. The overall growth forecast for China had been raised to 9-11% from the previous forecast of a 7-10% due to strong economic growth witnessed in the third quarter. Also, the company had stuck to its 7% growth rate forecast for aluminum demand in 2013. ((Alcoa Q3 2013 Earnings Conference Call, Seeking Alpha))
We would like to see if results at the end of Q4 are in tandem with expectations. While the U.S. economy seems to be picking up, we are skeptical that the performance of the Chinese automotive market and the overall demand growth are in line with projections.
Also, given that the company is releasing its annual results, we look forward to management guidance for the overall aluminum demand and that for individual segments in 2014.
Understand How a Company's Products Impact its Stock at Trefis
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Alcoa ( AA ) will report its fourth quarter earnings result on Thursday, January 9. In fact, a few months back one Chinese company had even announced plans to add 550,000 tonnes of smelting capacity by the end of this year to take advantage of cheap power. In the fourth quarter, Alcoa signed a co-operation agreement with Russia's VSMPO-AVISMA to target aerospace demand for high-end titanium and aluminum products.
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Alcoa ( AA ) will report its fourth quarter earnings result on Thursday, January 9. In the fourth quarter, Alcoa signed a co-operation agreement with Russia's VSMPO-AVISMA to target aerospace demand for high-end titanium and aluminum products. In this quarter, Alcoa also announced the signing of a deal worth about $110 million, to supply titanium and aluminum parts to aircraft manufacturer Airbus.
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Alcoa ( AA ) will report its fourth quarter earnings result on Thursday, January 9. See Full Analysis for Alcoa Here Importance Of Aluminum Prices For Alcoa Alcoa is organized into four business segments: Alumina, which mines bauxite and processes it into the precursor to aluminum; Primary Metals, which smelts aluminum; Flat-rolled Products, which makes sheets used in beverage cans as well as airplane wings and car parts; and Engineered Products and Solutions, which makes aerospace fasteners, turbine blades and truck wheels. The Aluminum Price Trend In Q4 The European debt crisis and slowing Chinese growth have contributed to the decline in aluminum demand and its prices over the last few quarters.
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Alcoa ( AA ) will report its fourth quarter earnings result on Thursday, January 9. One factor that might explain falling prices is the persistently high aluminum inventory relative to demand, which may be keeping a lid on London Metal Exchange (LME) prices for aluminum. In the fourth quarter, Alcoa signed a co-operation agreement with Russia's VSMPO-AVISMA to target aerospace demand for high-end titanium and aluminum products.
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1234.0
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2014-01-03 00:00:00 UTC
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Jobs in Focus as Q4 Earnings Reports Trickle In - Earnings Preview
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AA
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https://www.nasdaq.com/articles/jobs-focus-q4-earnings-reports-trickle-earnings-preview-2014-01-03
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nan
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nan
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Jobs in Focus as Q4 Earnings Reports Trickle In
The focus this week is justifiably on the labor market data , particularly the government jobs report coming out on Friday. The overall tone of recent U.S. economic data has been favorable, prompting positive revisions to Q4 GDP growth. Given this underlying momentum, it is perhaps reasonable to look for a positive surprise to the expected 190K 'headline' jobs reading on Friday. Also of interest in the economic docket will be minutes of the Fed's December that resulted in the 'Taper' announcement.
The labor market will no doubt be the big subject this week, but the drumbeat for the start of the 2013 Q4 earnings season will also get underway this week. We only have 6 S&P 500 companies reporting results this week, including Alcoa ( AA ), Monsanto ( MON ), and Family Dollar ( FDO ), with the full list of companies reporting in the week totaling about 40. The Q4 earnings season will get in the spotlight the following week when J.P. Morgan ( JPM ) and Wells Fargo ( WFC ) will report results.
The 6 S&P 500 companies reporting this week aren't (officially) the first Q4 earning releases. Companies with fiscal quarters ending in November start reporting in mid-December and get counted as part of the Q4 earnings season. By this definition, we already have seen reports from 18 S&P 500 members, including such industry bellwethers as FedEx ( FDX ), Oracle ( ORCL ), and Nike ( NKE ).
Here is the Scorecard for the 18 S&P 500 companies that have already reported Q4 results, as of Friday, January 3, 2014. Total earnings for these 18 companies (not EPS, median or otherwise) are up +3.2% from the same period last year, with a 'beat ratio' of 55.6% and a median surprise of +1.5%. Total revenues are up +5.4%, with an impressive revenue 'beat ratio' of 66.7% and a median surprise of +1.3%.
In comparative terms, the earnings growth for these 18 companies is below what these same companies reported in recent quarters, while performance on the revenue front compares favorably to the recent past.
But the Q4 earnings season's story isn't about the few companies that have reported, but rather about the still-to-come reports. To that point, the 'composite' picture for Q4, where we combine the results from the 18 companies that have reported already with the 488 still to come, is for growth rate of +6.3%. As has been the case at the start of recent quarterly earnings cycles, the current +6.3% growth rate for Q4 represents a sharp drop over the last three months, as the chart below shows.
This negative revisions behavior is hardly unusual as we have been repeatedly seeing this pattern play out in recent quarters. Companies have been overwhelmingly guiding lower, prompting analysts to cut estimates for the following quarter. The revisions behavior ahead of the Q3 earnings season was no different and most of the same sectors have experienced negative revisions this time around as well. The 'regulars' on the negative estimate revisions beat include Technology, Industrials, and Energy. Construction and Aerospace suffered negative revisions as well, while estimates for Basic Materials went up.
The earnings growth expected in Q4 at this stage of the reporting cycle is the highest that we have seen in any of the last few quarters. A big reason for that is easy comparisons, as 2012 Q4 represented the lowest quarterly earnings total for the S&P 500 in the last six quarters, with the comps particularly easy for the Finance sector, helping produce the sector's impressive +20.1% growth rate.
Within the Finance sector, the comparisons are particularly easy for the insurance industry - the industry alone accounts for more than a quarter of the sector's total earnings - given the impact on the industry's profitability from the East Coast storms in late 2012. Total earnings for the insurance industry are expected to be up more than +40% in Q4, with all the major industry players like Chubb ( CB ) and Travelers ( TRV ) producing strong growth rates.
While easy comparisons are driving the year over year growth rate in Q4, there hasn't been much growth lately despite very high level overall total earnings. Total earnings for companies in the S&P 500 reached an all-time record at $262.5 billion, surpassing the previous record reached the quarter before. Current estimates for Q4 work out to a modestly lower total for the quarter. But when all is said and done about Q4, we will likely have seen another quarterly record.
But of more interest than Q4 growth will be management guidance for 2014. Companies typically provide guidance only for the following quarter, but they do tend to discuss their outlook their outlook for the coming year on the Q4 earnings calls. It will be interesting to see if management teams see any material improvement in the earnings picture this year along the lines of current consensus earnings expectations for 2014. Total earnings are expected to be up +9.8% in 2014, up from +4.6% growth in 2013, with most of the growth coming in the back half of the year.
Monday-1/6
We will get the December non-manufacturing ISM index reading, with expectations of an increase to 54.6 from November's 53.9 level.
Tuesday -1/7
We will get the November Trade Deficit data in the morning, with expectations of a modestly lower deficit than the month before.
Micron Technology ( MU ) and the Apollo Group ( APOL ) are the only notable earnings release today, both after the close.
Zacks Earnings ESP or Expected Earnings Surprise, our proprietary leading indicator of earnings surprises, is showing Micron coming out with an earnings beat.
Stocks with positive Earnings ESP and Zacks Rank of 1, 2 or 3 are highly likely to come out with positive earnings surprises. Micron has a Zacks Rank #3 (Hold) and Earnings ESP of +7.3%.
To understand Zacks Earnings ESP better, please click here .
Wednesday-1/8
We will get the ADP jobs report in the morning, with consensus expectations of 230K private sector jobs in December, up from November's 215K level. Also coming out in the afternoon are the minutes of the Fed's December meeting where they decided the 'Taper' question.
Constellation Brands ( STZ ) and Monsanto ( MON ) will be the key reports in the morning, while Bed, Bath & Beyond ( BBBY ) will report after the close.
Thursday -1/9
Jobless Claims is the only economic report on the docket today.
Family Dollar ( FDO ) and Super Value ( SVU ) will report in the morning, while Alcoa ( AA ) reports after the close.
Alcoa's Zacks Rank #3 (Hold) and Earnings ESP of +2.9% show that the company is highly likely to come out with a positive earnings surprise.
Friday-1/10
We will get the December non-farm payroll report in the morning, with expectations of 'headline' gains of 190K vs. 203K the month before. The unemployment rate is expected to remain unchanged at 7%.
Here is a list of the 40 companies reporting this week, including 6 S&P 500 members.
ALCOA INC (AA): Free Stock Analysis Report
APOLLO GROUP (APOL): Free Stock Analysis Report
BED BATH&BEYOND (BBBY): Free Stock Analysis Report
CHUBB CORP (CB): Free Stock Analysis Report
FAMILY DOLLAR (FDO): Free Stock Analysis Report
FEDEX CORP (FDX): Free Stock Analysis Report
JPMORGAN CHASE (JPM): Free Stock Analysis Report
MONSANTO CO-NEW (MON): Free Stock Analysis Report
MICRON TECH (MU): Free Stock Analysis Report
NIKE INC-B (NKE): Free Stock Analysis Report
ORACLE CORP (ORCL): Free Stock Analysis Report
CONSTELLATN BRD (STZ): Free Stock Analysis Report
SUPERVALU INC (SVU): Free Stock Analysis Report
TRAVELERS COS (TRV): Free Stock Analysis Report
WELLS FARGO-NEW (WFC): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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We only have 6 S&P 500 companies reporting results this week, including Alcoa ( AA ), Monsanto ( MON ), and Family Dollar ( FDO ), with the full list of companies reporting in the week totaling about 40. Family Dollar ( FDO ) and Super Value ( SVU ) will report in the morning, while Alcoa ( AA ) reports after the close. ALCOA INC (AA): Free Stock Analysis Report APOLLO GROUP (APOL): Free Stock Analysis Report BED BATH&BEYOND (BBBY): Free Stock Analysis Report CHUBB CORP (CB): Free Stock Analysis Report FAMILY DOLLAR (FDO): Free Stock Analysis Report FEDEX CORP (FDX): Free Stock Analysis Report JPMORGAN CHASE (JPM): Free Stock Analysis Report MONSANTO CO-NEW (MON): Free Stock Analysis Report MICRON TECH (MU): Free Stock Analysis Report NIKE INC-B (NKE): Free Stock Analysis Report ORACLE CORP (ORCL): Free Stock Analysis Report CONSTELLATN BRD (STZ): Free Stock Analysis Report SUPERVALU INC (SVU): Free Stock Analysis Report TRAVELERS COS (TRV): Free Stock Analysis Report WELLS FARGO-NEW (WFC): Free Stock Analysis Report To read this article on Zacks.com click here.
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We only have 6 S&P 500 companies reporting results this week, including Alcoa ( AA ), Monsanto ( MON ), and Family Dollar ( FDO ), with the full list of companies reporting in the week totaling about 40. ALCOA INC (AA): Free Stock Analysis Report APOLLO GROUP (APOL): Free Stock Analysis Report BED BATH&BEYOND (BBBY): Free Stock Analysis Report CHUBB CORP (CB): Free Stock Analysis Report FAMILY DOLLAR (FDO): Free Stock Analysis Report FEDEX CORP (FDX): Free Stock Analysis Report JPMORGAN CHASE (JPM): Free Stock Analysis Report MONSANTO CO-NEW (MON): Free Stock Analysis Report MICRON TECH (MU): Free Stock Analysis Report NIKE INC-B (NKE): Free Stock Analysis Report ORACLE CORP (ORCL): Free Stock Analysis Report CONSTELLATN BRD (STZ): Free Stock Analysis Report SUPERVALU INC (SVU): Free Stock Analysis Report TRAVELERS COS (TRV): Free Stock Analysis Report WELLS FARGO-NEW (WFC): Free Stock Analysis Report To read this article on Zacks.com click here. Family Dollar ( FDO ) and Super Value ( SVU ) will report in the morning, while Alcoa ( AA ) reports after the close.
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ALCOA INC (AA): Free Stock Analysis Report APOLLO GROUP (APOL): Free Stock Analysis Report BED BATH&BEYOND (BBBY): Free Stock Analysis Report CHUBB CORP (CB): Free Stock Analysis Report FAMILY DOLLAR (FDO): Free Stock Analysis Report FEDEX CORP (FDX): Free Stock Analysis Report JPMORGAN CHASE (JPM): Free Stock Analysis Report MONSANTO CO-NEW (MON): Free Stock Analysis Report MICRON TECH (MU): Free Stock Analysis Report NIKE INC-B (NKE): Free Stock Analysis Report ORACLE CORP (ORCL): Free Stock Analysis Report CONSTELLATN BRD (STZ): Free Stock Analysis Report SUPERVALU INC (SVU): Free Stock Analysis Report TRAVELERS COS (TRV): Free Stock Analysis Report WELLS FARGO-NEW (WFC): Free Stock Analysis Report To read this article on Zacks.com click here. We only have 6 S&P 500 companies reporting results this week, including Alcoa ( AA ), Monsanto ( MON ), and Family Dollar ( FDO ), with the full list of companies reporting in the week totaling about 40. Family Dollar ( FDO ) and Super Value ( SVU ) will report in the morning, while Alcoa ( AA ) reports after the close.
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We only have 6 S&P 500 companies reporting results this week, including Alcoa ( AA ), Monsanto ( MON ), and Family Dollar ( FDO ), with the full list of companies reporting in the week totaling about 40. Family Dollar ( FDO ) and Super Value ( SVU ) will report in the morning, while Alcoa ( AA ) reports after the close. ALCOA INC (AA): Free Stock Analysis Report APOLLO GROUP (APOL): Free Stock Analysis Report BED BATH&BEYOND (BBBY): Free Stock Analysis Report CHUBB CORP (CB): Free Stock Analysis Report FAMILY DOLLAR (FDO): Free Stock Analysis Report FEDEX CORP (FDX): Free Stock Analysis Report JPMORGAN CHASE (JPM): Free Stock Analysis Report MONSANTO CO-NEW (MON): Free Stock Analysis Report MICRON TECH (MU): Free Stock Analysis Report NIKE INC-B (NKE): Free Stock Analysis Report ORACLE CORP (ORCL): Free Stock Analysis Report CONSTELLATN BRD (STZ): Free Stock Analysis Report SUPERVALU INC (SVU): Free Stock Analysis Report TRAVELERS COS (TRV): Free Stock Analysis Report WELLS FARGO-NEW (WFC): Free Stock Analysis Report To read this article on Zacks.com click here.
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1235.0
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2014-01-03 00:00:00 UTC
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Alcoa: 2013 In Review
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AA
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https://www.nasdaq.com/articles/alcoa-2013-review-2014-01-03
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nan
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nan
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Alcoa ( AA ) suffered due to low aluminum prices in 2013, but has performed better than 2012 in the first three quarters due to cost-cutting efforts and the contribution from the value-added product divisions. In the first nine months of 2013, Alcoa recorded revenues of $17.4 billion compared to $17.8 billion in the comparable period of 2012. Despite lower revenues, net income stood at $54 million compared to a net loss of $95 million last year due to cost related savings.
Low aluminum prices and a global inventory glut forced Alcoa to announce massive cuts in smelting capacity. The company instead decided to focus on its value-added businesses. It signed major deals with Airbus, China's Commercial Aircraft of China Ltd. (COMAC), and Russia's VSMPO-AVISMA, to supply aerospace products and parts. It also conducted a ground breaking ceremony in Tennessee to expand production of aluminum products for the automotive segment.
Among other notable events, Alcoa was replaced in the Dow Jones Industrial Average (DJIA) index in 2013 by Nike, due to its low share price and market cap.
We have a Trefis price estimate of $7for Alcoa , which represents 32% downside to the current market price.
See Full Analysis for Alcoa Here
Smelting Capacity Cuts
In May, Alcoa announced that it would consider cutting about 11% of its smelting capacity, or 460,000 tons, over the next 15 months as it battles low prices for aluminum. According to a company news release, this step was being taken in response to a 33% drop in aluminum prices since 2011. At the time of making this announcement, it already had an idle smelting capacity of 568,000 tonnes, or 13% of the total.
Aluminum prices on the London Metal Exchange, which are used as a benchmark by the company to determine its own prices, have been dropping sharply since the end of February. Prices have dropped from $2,100/ton at the beginning of the year to below $1,800/ton.
One factor bearing on the falling prices is the persistently high aluminum inventory relative to demand, which may be keeping a lid on London Metal Exchange (LME) prices for aluminum. Also, despite falling aluminum prices, Chinese production is expected to have risen by 10% from 2012. This represents an absolute increase of 2.2 million tons. Thus, despite inventories being at a record high, market forces have failed to rationalize supply through the shutdown of smelting capacity in China. This is primarily due to state intervention, through both the provision of subsidies or the renegotiation of power contracts to smelters. ((Alcoa to Consider Cutting 11% of Capacity, WSJ))
Deals With Aircraft Manufacturers
Alcoa announced a new agreement for strategic technology and commercial cooperation with Commercial Aircraft of China Ltd. (COMAC). COMAC is a manufacturer of large passenger aircraft in China and has ambitions of competing with Boeing and Airbus. The deal will help Alcoa gain a stronger foothold in the Chinese aerospace market, which is one of the world's fastest growing markets. ((Alcoa Fastening Systems Enters Strategic Partnership with COMAC, Alcoa Press Release))
Alcoa also signed a co-operation agreement with Russia's VSMPO-AVISMA to target aerospace demand for high-end titanium and aluminum products. VSMPO-AVISMA is the world's largest manufacturer of titanium ingots and forged products, and the agreement marks the first step towards the creation of a joint venture between the two companies. Alcoa bought the Samara and Belaya Kalitva aluminium processing plants in Russia in 2005. Since then, it has invested more than $540 million in building facilities, including modern control technology for a forging press that remains the sole global source of some particularly large forging products. The titanium forgings that Alcoa and VSMPO-AVISMA aim to produce at Samara will thus be technologically difficult for any competitor to replicate in the short term.
Alcoa's total revenues for 2012 were $23.7 billion, of which $5.5 billion were contributed by the Engineering Products and Solutions division. Although total revenues declined in 2012 from the previous year's figure of $24.9 billion, revenues of the Engineered Products division rose 3.8% from $5.3 billion in 2011. ((Q4 2012 Earnings Presentation, Alcoa Website))
The division reported a record adjusted EBITDA margin of 22.5% in Q3 2013. Alcoa is upbeat about the aerospace market and maintained its 9-10% growth projection for 2013. The company touts a large backlog of 9,900 orders for planes with Boeing and Airbus, which might take up to 8 years to clear. It signed orders worth $135 billion with these companies at the Paris Air Show in the second quarter. ((Alcoa Q3 2013 Earnings Presentation, Alcoa Website))
Reasons For Alcoa's Exclusion From Dow Jones
The DJIA is a price-weighted index, which means that the stocks with the highest share price have the greatest weight. The three companies which were removed from the index (Alcoa, HP, Bank of America) in the latest shake-up had single-digit or low double-digit stock prices. Thus, movements in their prices didn't impact the index as much as higher prices members like IBM and 3M. With a price of $7-8 per share at the time of removal, Alcoa was easily the cheapest stock in the DJIA. ((Alcoa, H-P, Bank of America kicked off Dow, The Christian Science Monitor))
According to the chairman of the index committee that decides the DJIA's composition, Alcoa, BofA and HP constituted just 3% of the index's value. For an index that has just 30 companies, the committee felt that it couldn't justify allocating three positions on the index in return for just 3% of the value.
The owners of the DJIA also wanted to diversify the make-up of the index to reflect the real economy. The economy has gradually shifted from heavy manufacturing to other areas like finance, healthcare and technology. The mining and materials sector, to which Alcoa belongs, constitutes just 3-3.5% of the overall U.S.stock market today Also, aluminum consumption in the U.S., as a percentage of the overall Gross Domestic Product ( GDP ), has declined over the last five decades. While it represented 0.2% of the U.S. GDP in 1959 when Alcoa joined the DJIA, today it constitutes just 0.02%. This trend was mirrored in Alcoa's steadily declining share of the Dow, from 2% 10 years ago to 0.4% today. ((Alcoa Junk Downgrade Is Rare Trauma for Dow Stocks: Commodities, Bloomberg))
Although eventually there was little financial impact due to Alcoa's removal from the DJIA, it signified a loss of prestige for the company over time. The company's share price had fallen from peak levels of $48 in 2008 to $7 in 2013 when the DJIA removed it.
Understand How a Company's Products Impact its Stock at Trefis
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Alcoa ( AA ) suffered due to low aluminum prices in 2013, but has performed better than 2012 in the first three quarters due to cost-cutting efforts and the contribution from the value-added product divisions. Among other notable events, Alcoa was replaced in the Dow Jones Industrial Average (DJIA) index in 2013 by Nike, due to its low share price and market cap. VSMPO-AVISMA is the world's largest manufacturer of titanium ingots and forged products, and the agreement marks the first step towards the creation of a joint venture between the two companies.
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Alcoa ( AA ) suffered due to low aluminum prices in 2013, but has performed better than 2012 in the first three quarters due to cost-cutting efforts and the contribution from the value-added product divisions. It signed major deals with Airbus, China's Commercial Aircraft of China Ltd. (COMAC), and Russia's VSMPO-AVISMA, to supply aerospace products and parts. ((Alcoa to Consider Cutting 11% of Capacity, WSJ)) Deals With Aircraft Manufacturers Alcoa announced a new agreement for strategic technology and commercial cooperation with Commercial Aircraft of China Ltd. (COMAC).
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Alcoa ( AA ) suffered due to low aluminum prices in 2013, but has performed better than 2012 in the first three quarters due to cost-cutting efforts and the contribution from the value-added product divisions. See Full Analysis for Alcoa Here Smelting Capacity Cuts In May, Alcoa announced that it would consider cutting about 11% of its smelting capacity, or 460,000 tons, over the next 15 months as it battles low prices for aluminum. ((Alcoa Fastening Systems Enters Strategic Partnership with COMAC, Alcoa Press Release)) Alcoa also signed a co-operation agreement with Russia's VSMPO-AVISMA to target aerospace demand for high-end titanium and aluminum products.
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Alcoa ( AA ) suffered due to low aluminum prices in 2013, but has performed better than 2012 in the first three quarters due to cost-cutting efforts and the contribution from the value-added product divisions. The deal will help Alcoa gain a stronger foothold in the Chinese aerospace market, which is one of the world's fastest growing markets. ((Alcoa Q3 2013 Earnings Presentation, Alcoa Website)) Reasons For Alcoa's Exclusion From Dow Jones The DJIA is a price-weighted index, which means that the stocks with the highest share price have the greatest weight.
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1236.0
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2014-01-02 00:00:00 UTC
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U.S. Steel: 2013 In Review
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AA
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https://www.nasdaq.com/articles/us-steel-2013-review-2014-01-02
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nan
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nan
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U.S. Steel ( X ) had a forgettable year in 2013. In the first nine months of the year, the company recorded revenues of $13.1 billion as compared to $14.8 billion in the comparable period last year. It recorded a net loss of $1.9 billion, compared to a loss of $74 million last year. While this was primarily due to a goodwill impairment worth $1.8 billion, the quantum of loss would have been greater than 2012 even otherwise. Things haven't really improved in the fourth quarter so we expect U.S. Steel to end up with a poorer overall performance compared to 2012.
U.S. Steel was downgraded by S&P from 'BB' to 'BB-' on expectations of a weak operating performance in the face of challenging market conditions. This shows that structural conditions in the steel market are not likely to pick up anytime soon. The company's woes were compounded by rising imports, especially in the tubular goods space, where margins are considerably higher. Let's examine each of these major events in detail.
We have a price estimate of $19 for U.S. Steel , which represents 34% downside to the current market price.
See Full Analysis of U.S. Steel Here
The S&P Downgrade
The rating downgrade by S&P in June 2013 put U.S. Steel three notches below investment grade rating.
Excess supply in the face of insufficient demand and high import levels continue to hinder U.S. Steel's ability to gain higher pricing power. Thus, S&P expects a weaker operating performance from the company than its previous expectations. In addition, factors such as the capital-intensive nature of the company's operations and the cyclical nature of the steel industry have led to U.S. Steel acquiring a high degree of operating leverage. According to S&P, the book value of U.S. Steel's debt is relatively high and it also has significant underfunded post-retirement benefit obligations. (( S&P Cuts U.S. Steel Rating on Weaker Than Projected Operating Performance , WSJ))
The company had a long-term debt of $3.6 billion on its balance sheet at the end of Q3 this year. In addition, its retiree medical and life insurance plans were underfunded by $2.2 billion and pension plans by $2.7 billion at the end of 2012. On the operating cost front too the company is expected to face challenges due to repair and maintenance expenses as well as higher natural gas costs, especially if the U.S. allows export of liquefied natural gas ( LNG ) more liberally.
Despite the rating downgrade, S&P maintained a stable outlook on U.S. Steel. This was primarily due to the company's strong liquidity position, the extent of its operations, and the cost benefits expected to accrue from backward integration into iron ore and coke production. The liquidity position is expected to be strong enough to allow the company to withstand headwinds over the next 6 months.
Rising Imports
In 2013, the rising tide of steel imports into the U.S. led U.S. Steel and other major producers to ask for duties on imported oil and tubular country goods (OCTG) which are supposedly being sold at unfairly low prices. This prompted the U.S. Commerce Department to launch an investigation into alleged unfair trade practices being followed by exporting countries. Preliminary anti-dumping duties are expected to be imposed in February 2014.
Imports of OCTG steel from the nine countries under investigation (India, Vietnam, Philippines, Thailand, Taiwan, Turkey, Saudi Arabia and Ukraine) totaled $1.8 billion in 2012. The quantity has more than doubled since 2010, owing to rising U.S. oil and natural gas production which is increasing demand for OCTG steel. Given the high price realizations from OCTG grades of steel and the fact that they account for 15% of its revenues, U.S. Steel has a significant stake in ensuring a favorable outcome from the investigation.
Until the time the investigation concludes, U.S. Steel's OCTG business is likely to continue facing challenging business conditions from imported products.
Goodwill Impairment
U.S. Steel took a $1.8 billion impairment charge on goodwill in its third quarter results. The Canadian and Texas steel mills, which accounted for this impairment, were acquired for $3.1 billion in 2007 and U.S. Steel acknowledged that they were not worth the price paid at the time.
Of the total impairment charge, $946 million was accounted for by the company's North American flat-rolled steel segment and $837 million by its Texas operations where tubular steel is produced.
For the flat-rolled steel segment, U.S. Steel cited a protracted economic recovery and excess global steel production capacity as reasons for impairment. For the tubular steel operations, it laid the blame on increased market supply, announcements by other companies of further capacity addition, and increased imports. According to U.S. Steel, these factors have resulted in a low pricing environment. According to some analysts, oil and gas companies have also learned to extract more with fewer rigs, leading to lower growth in demand than expected. As pointed out earlier in this note, the glut in tubular steel will affect U.S. Steel's profits quite a lot because it is the company's most profitable segment.
Understand on Trefis how a company's products impact its stock price
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Excess supply in the face of insufficient demand and high import levels continue to hinder U.S. Steel's ability to gain higher pricing power. This was primarily due to the company's strong liquidity position, the extent of its operations, and the cost benefits expected to accrue from backward integration into iron ore and coke production. Imports of OCTG steel from the nine countries under investigation (India, Vietnam, Philippines, Thailand, Taiwan, Turkey, Saudi Arabia and Ukraine) totaled $1.8 billion in 2012.
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Rising Imports In 2013, the rising tide of steel imports into the U.S. led U.S. Steel and other major producers to ask for duties on imported oil and tubular country goods (OCTG) which are supposedly being sold at unfairly low prices. Until the time the investigation concludes, U.S. Steel's OCTG business is likely to continue facing challenging business conditions from imported products. Of the total impairment charge, $946 million was accounted for by the company's North American flat-rolled steel segment and $837 million by its Texas operations where tubular steel is produced.
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In addition, factors such as the capital-intensive nature of the company's operations and the cyclical nature of the steel industry have led to U.S. Steel acquiring a high degree of operating leverage. Rising Imports In 2013, the rising tide of steel imports into the U.S. led U.S. Steel and other major producers to ask for duties on imported oil and tubular country goods (OCTG) which are supposedly being sold at unfairly low prices. For the flat-rolled steel segment, U.S. Steel cited a protracted economic recovery and excess global steel production capacity as reasons for impairment.
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U.S. Steel was downgraded by S&P from 'BB' to 'BB-' on expectations of a weak operating performance in the face of challenging market conditions. Thus, S&P expects a weaker operating performance from the company than its previous expectations. Rising Imports In 2013, the rising tide of steel imports into the U.S. led U.S. Steel and other major producers to ask for duties on imported oil and tubular country goods (OCTG) which are supposedly being sold at unfairly low prices.
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1237.0
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2013-12-30 00:00:00 UTC
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Alcoa Reaches 52-Week High - Analyst Blog
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AA
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https://www.nasdaq.com/articles/alcoa-reaches-52-week-high-analyst-blog-2013-12-30
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nan
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nan
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Shares of Alcoa Inc. ( AA ) hit a new 52-week high of $10.70 on Dec 27 and eventually closed at $10.69.
Year-to-date, Alcoa's share price has recorded a healthy return of 24.85%. Average volume of shares traded over the last three months came in at approximately 26,339K.
What is Driving Alcoa Up?
Alcoa's shares gained on reports that Ford Motor Co. ( F ) will launch a new aluminum F-Series truck at the Detroit Auto Show in January 2014. The new, aluminum-intensive design will make the truck comparatively lighter. Alcoa produces military-grade aluminum that's used in durable military vehicles and thus Ford has asked for samples from Alcoa to demonstrate the durability of the metal.
Alcoa turned out profit on a reported basis on the back of productivity gains and cost-cutting measures in the third quarter of 2013. Excluding one-time special items, earning was $120 million or 11 cents a share in the quarter, ahead of the year-ago earnings of $76 million or 7 cents and the Zacks Consensus Estimate of 6 cents. Productivity gains, strong demand from auto makers, healthy operating performance and cost cutting supported the results despite lower metal prices.
Alcoa is witnessing strength in the aerospace and auto markets. It expects 9% to 10% growth in the aerospace market in 2013, backed by higher air travel demand, new aircraft orders (roughly 900 orders were signed in Paris Air Show worth $135 billion), strong existing order backlog and a rebound in the jet segment.
The company anticipates even higher growth of 12% for large commercial aircraft segment. The auto industry is also showing strength. As per automotive original equipment manufacturers (OEMs), the use of aluminum in cars is expected to double by 2025 as automakers seek more fuel efficiency by reducing vehicle mass.
The company is pursuing strategies to narrow its cost curves in its upstream businesses, and record profitability in its midstream and downstream businesses. In keeping with the revenue targets, management is committed to improving margins that will exceed historical levels in the midstream and downstream operations. The company aims to achieve these goals by optimizing its portfolio and restructuring its high-cost assets.
Other Stocks to Consider
Alcoa currently carries a Zacks Rank #2 (Buy). Other players in the industry, which look attractive at current levels, are First Quantum Minerals Ltd. ( FQVLF ) and Rio Tinto plc ( RIO ). Both of them hold a Zacks Rank #2 (Buy).
ALCOA INC (AA): Free Stock Analysis Report
FORD MOTOR CO (F): Free Stock Analysis Report
FIRST QUANTUM (FQVLF): Get Free Report
RIO TINTO-ADR (RIO): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Shares of Alcoa Inc. ( AA ) hit a new 52-week high of $10.70 on Dec 27 and eventually closed at $10.69. ALCOA INC (AA): Free Stock Analysis Report FORD MOTOR CO (F): Free Stock Analysis Report FIRST QUANTUM (FQVLF): Get Free Report RIO TINTO-ADR (RIO): Free Stock Analysis Report To read this article on Zacks.com click here. Alcoa's shares gained on reports that Ford Motor Co. ( F ) will launch a new aluminum F-Series truck at the Detroit Auto Show in January 2014.
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ALCOA INC (AA): Free Stock Analysis Report FORD MOTOR CO (F): Free Stock Analysis Report FIRST QUANTUM (FQVLF): Get Free Report RIO TINTO-ADR (RIO): Free Stock Analysis Report To read this article on Zacks.com click here. Shares of Alcoa Inc. ( AA ) hit a new 52-week high of $10.70 on Dec 27 and eventually closed at $10.69. Productivity gains, strong demand from auto makers, healthy operating performance and cost cutting supported the results despite lower metal prices.
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ALCOA INC (AA): Free Stock Analysis Report FORD MOTOR CO (F): Free Stock Analysis Report FIRST QUANTUM (FQVLF): Get Free Report RIO TINTO-ADR (RIO): Free Stock Analysis Report To read this article on Zacks.com click here. Shares of Alcoa Inc. ( AA ) hit a new 52-week high of $10.70 on Dec 27 and eventually closed at $10.69. Alcoa's shares gained on reports that Ford Motor Co. ( F ) will launch a new aluminum F-Series truck at the Detroit Auto Show in January 2014.
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ALCOA INC (AA): Free Stock Analysis Report FORD MOTOR CO (F): Free Stock Analysis Report FIRST QUANTUM (FQVLF): Get Free Report RIO TINTO-ADR (RIO): Free Stock Analysis Report To read this article on Zacks.com click here. Shares of Alcoa Inc. ( AA ) hit a new 52-week high of $10.70 on Dec 27 and eventually closed at $10.69. Alcoa's shares gained on reports that Ford Motor Co. ( F ) will launch a new aluminum F-Series truck at the Detroit Auto Show in January 2014.
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1238.0
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2013-12-26 00:00:00 UTC
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Ford Gains on Aluminum Truck News - Analyst Blog
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AA
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https://www.nasdaq.com/articles/ford-gains-on-aluminum-truck-news-analyst-blog-2013-12-26
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nan
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nan
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Shares of Ford Motor Co. ( F ) increased 0.5% to $15.50 before closing at $15.15 on Dec 23, 2013 post media reports about the expected launch of a new aluminum F-Series truck. Ford plans to release the new F-150 pickup at the Detroit Auto Show in Jan 2014, according to Bloomberg.
The redesigned pickup will be lighter than the current top-selling F-150 truck. It is expected to provide 30 mpg on the highway, a step up from 23 mpg offered by the F-150 model of 2014. Moreover, this mileage will support Ford in complying with the new U.S. fuel economy standards of 54.5 mpg for all vehicles by 2025.
According to the report, Alcoa Inc. ( AA ), the manufacturer of blast shields for battlefield-bound vehicles, will supply military-grade metal for making the prototype of the aluminum F-150 pickup. However, Ford is likely to face challenges during this transfer from steel to aluminum. The automaker may even have to close its truck factories for six weeks for this transmission.
Ford produces F-150 pickups in two factories one near Michigan and the other in Claycomo, Mo. The larger F-250 to F-550 truck series are assembled in Louisville, Ky.
Ford expects full-year pre-tax profit, excluding special items, to increase to $8.5 billion, from $8 billion recorded in 2012. The higher profit projection is based on continuous investment for growth in the One Ford plan.
Ford also predicts 2013 automotive revenues to escalate 10% on the back of expected gains in market share in all regions except Europe. Meanwhile, the automaker is focusing on the transformation plan in Europe and restructuring in Australia for better results in future.
Ford is one of the largest automobile producers in the world along with General Motors Company ( GM ) and Honda Motor Co., Ltd. ( HMC ). Currently, Ford has a Zacks Rank #3 (Hold).
ALCOA INC (AA): Free Stock Analysis Report
FORD MOTOR CO (F): Free Stock Analysis Report
GENERAL MOTORS (GM): Free Stock Analysis Report
HONDA MOTOR (HMC): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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According to the report, Alcoa Inc. ( AA ), the manufacturer of blast shields for battlefield-bound vehicles, will supply military-grade metal for making the prototype of the aluminum F-150 pickup. ALCOA INC (AA): Free Stock Analysis Report FORD MOTOR CO (F): Free Stock Analysis Report GENERAL MOTORS (GM): Free Stock Analysis Report HONDA MOTOR (HMC): Free Stock Analysis Report To read this article on Zacks.com click here. Shares of Ford Motor Co. ( F ) increased 0.5% to $15.50 before closing at $15.15 on Dec 23, 2013 post media reports about the expected launch of a new aluminum F-Series truck.
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ALCOA INC (AA): Free Stock Analysis Report FORD MOTOR CO (F): Free Stock Analysis Report GENERAL MOTORS (GM): Free Stock Analysis Report HONDA MOTOR (HMC): Free Stock Analysis Report To read this article on Zacks.com click here. According to the report, Alcoa Inc. ( AA ), the manufacturer of blast shields for battlefield-bound vehicles, will supply military-grade metal for making the prototype of the aluminum F-150 pickup. Ford is one of the largest automobile producers in the world along with General Motors Company ( GM ) and Honda Motor Co., Ltd. ( HMC ).
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ALCOA INC (AA): Free Stock Analysis Report FORD MOTOR CO (F): Free Stock Analysis Report GENERAL MOTORS (GM): Free Stock Analysis Report HONDA MOTOR (HMC): Free Stock Analysis Report To read this article on Zacks.com click here. According to the report, Alcoa Inc. ( AA ), the manufacturer of blast shields for battlefield-bound vehicles, will supply military-grade metal for making the prototype of the aluminum F-150 pickup. Shares of Ford Motor Co. ( F ) increased 0.5% to $15.50 before closing at $15.15 on Dec 23, 2013 post media reports about the expected launch of a new aluminum F-Series truck.
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According to the report, Alcoa Inc. ( AA ), the manufacturer of blast shields for battlefield-bound vehicles, will supply military-grade metal for making the prototype of the aluminum F-150 pickup. ALCOA INC (AA): Free Stock Analysis Report FORD MOTOR CO (F): Free Stock Analysis Report GENERAL MOTORS (GM): Free Stock Analysis Report HONDA MOTOR (HMC): Free Stock Analysis Report To read this article on Zacks.com click here. Shares of Ford Motor Co. ( F ) increased 0.5% to $15.50 before closing at $15.15 on Dec 23, 2013 post media reports about the expected launch of a new aluminum F-Series truck.
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1239.0
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2013-12-24 00:00:00 UTC
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Alcoa Rises on ProStrength Launch - Analyst Blog
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AA
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https://www.nasdaq.com/articles/alcoa-rises-on-prostrength-launch-analyst-blog-2013-12-24
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nan
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nan
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Shares of Alcoa Inc. ( AA ) rose around 1% during the trading session following the launch of a proprietary surface finishing technology, ProStrength. The technology will allow consumer electronics companies to use aerospace-grade aluminum to reduce the weight and thickness and increase the sturdiness of mobile devices.
ProStrength Finishing Technology is a process that enables mobile device makers to design clear or color-anodized durable surfaces using high-strength, heat treatable aluminum alloys that are used in the aerospace and defense industries. Application of these alloys will reduce the thickness and weight of the device by over 50%.
Customers usually purchase electronic devices based on the size, design and feel factor of the gadget. ProStrength's anodized finish on aerospace-grade aluminum alloys perfectly complements customer requirement of a metallic look and feel while concurrently producing thinner, lighter, and more durable mobile devices.
ProStrength Finishing Technology was developed at the Alcoa Technical Center. Alcoa collaborated with major consumer electronic (CE) companies and designers to facilitate the use of aluminum in mobile devices. Usage of aluminum in the CE market has increased as original equipment manufacturers (OEMs) prefer its aesthetic quality, light weight and ability to dissipate heat.
In 2012, Alcoa introduced the ColorKast Die Cast Technology in the consumer electronics market. The technology is used by Samsung in its new digital camera NX210. ColorKast Die Cast technology allowed Alcoa to produce color anodizable aluminum die cast components with high-end cosmetics.
Alcoa currently carries a Zacks Rank #3 (Hold).
Other mining stocks with a favorable Zacks Rank are First Quantum Minerals Ltd. ( FQVLF ), McEwen Mining Inc. ( MUX ) and Denison Mines Corp. ( DNN ). All hold a Zacks Rank #2 (Buy).
ALCOA INC (AA): Free Stock Analysis Report
DENISON MINES (DNN): Free Stock Analysis Report
FIRST QUANTUM (FQVLF): Get Free Report
MCEWEN MINING (MUX): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Shares of Alcoa Inc. ( AA ) rose around 1% during the trading session following the launch of a proprietary surface finishing technology, ProStrength. ALCOA INC (AA): Free Stock Analysis Report DENISON MINES (DNN): Free Stock Analysis Report FIRST QUANTUM (FQVLF): Get Free Report MCEWEN MINING (MUX): Free Stock Analysis Report To read this article on Zacks.com click here. ProStrength Finishing Technology is a process that enables mobile device makers to design clear or color-anodized durable surfaces using high-strength, heat treatable aluminum alloys that are used in the aerospace and defense industries.
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ALCOA INC (AA): Free Stock Analysis Report DENISON MINES (DNN): Free Stock Analysis Report FIRST QUANTUM (FQVLF): Get Free Report MCEWEN MINING (MUX): Free Stock Analysis Report To read this article on Zacks.com click here. Shares of Alcoa Inc. ( AA ) rose around 1% during the trading session following the launch of a proprietary surface finishing technology, ProStrength. The technology will allow consumer electronics companies to use aerospace-grade aluminum to reduce the weight and thickness and increase the sturdiness of mobile devices.
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ALCOA INC (AA): Free Stock Analysis Report DENISON MINES (DNN): Free Stock Analysis Report FIRST QUANTUM (FQVLF): Get Free Report MCEWEN MINING (MUX): Free Stock Analysis Report To read this article on Zacks.com click here. Shares of Alcoa Inc. ( AA ) rose around 1% during the trading session following the launch of a proprietary surface finishing technology, ProStrength. The technology will allow consumer electronics companies to use aerospace-grade aluminum to reduce the weight and thickness and increase the sturdiness of mobile devices.
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Shares of Alcoa Inc. ( AA ) rose around 1% during the trading session following the launch of a proprietary surface finishing technology, ProStrength. ALCOA INC (AA): Free Stock Analysis Report DENISON MINES (DNN): Free Stock Analysis Report FIRST QUANTUM (FQVLF): Get Free Report MCEWEN MINING (MUX): Free Stock Analysis Report To read this article on Zacks.com click here. The technology will allow consumer electronics companies to use aerospace-grade aluminum to reduce the weight and thickness and increase the sturdiness of mobile devices.
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1240.0
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2013-12-20 00:00:00 UTC
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Agreement With Airbus For Supply Of Aerospace Parts Is Positive For Alcoa's Business
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AA
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https://www.nasdaq.com/articles/agreement-airbus-supply-aerospace-parts-positive-alcoas-business-2013-12-20
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nan
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nan
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Alcoa ( AA ) has announced the signing of a deal worth about $110 million, to supply titanium and aluminum parts to aircraft manufacturer Airbus.
This deal shows that traditional producers of metallic jetliner parts are fighting back against competition from sophisticated composite materials which have gained favor among aircraft manufacturers in the recent years. For Alcoa, the deal is another way of growing its engineered products business, which has largely compensated for the company's lackluster showing in its primary aluminum sales business in a tough economic environment.
Alcoa already has agreements with Airbus for supply of various aluminum sheets, plates and hard alloy extruded products that utilize Alcoa's current, advanced-generation and aluminum lithium alloys.
We have a Trefis price estimate of $7for Alcoa , which represents 25% downside to the market price.
See Full Analysis for Alcoa Here
What Will Alcoa Supply?
Alcoa will supply titanium parts, including forgings used to connect the wing structure to the engine, for Airbus' A320neo, a single-aisle jet. It will also supply aluminum forgings for the A330 and A380 models. One of these forgings is the A380 inner rear wing spar, which is the largest aerospace forging in the world. Alcoa is well-equipped to supply this particular part as its proprietary 7085 alloy is intended specifically for manufacturing large structural aircraft components. Many of the forgings that Alcoa will supply connect the wing structure of the jet to its body.
Why Would Airbus Prefer Metal Parts Over Composites?
Alcoa has identified automotive and aerospace markets as its key targets for supplying value-added products, and invested in design and development to meet their needs. In the aerospace market, it has been observed that manufacturers are gravitating more towards composite materials these days, which are both stronger and lighter than traditional metals. To counter this competition, Alcoa has invested in developing metal alloys with the same qualities. It claims that these alloys are easier to manufacture and repair than composites. Composite materials are generally made of carbon fiber reinforced with epoxy resin and are strong, lightweight and resistant to corrosion. However, their production can be complicated and expensive. In addition, fixing them once a plane is in service can be tricky. Moreover, advanced metal parts of the kind that Alcoa produces can be used as connectors for composite parts. While the traditional aluminum fasteners can react chemically with composites to produce avoidable dangerous consequences, those supplied by Alcoa don't react with plastics.
Alcoa says that it has invested heavily in modernizing a 50,000 ton press at its Cleveland facility and equipped it with sophisticated controls. This will enable the press to meet stringent specifications desired by the aerospace industry in producing large and complex titanium, nickel, steel and aluminum forgings. The company already supplies Airbus with aluminum sheet, plate and hard alloy extruded products utilizing its current, advanced-generation and aluminum lithium alloys. This is being done under an agreement worth $1.4 billion signed in 2012.
Is Alcoa Well-placed To Supply These Parts?
Over the years, Alcoa has invested heavily in developing alloys that are both stronger and lighter than traditional metals. One reason why it has been doing so is to focus on growing its value-added downstream businesses of supplying global rolled products and engineered products. The traditional bread-and-butter alumina and primary aluminum businesses of the company have become quite commoditized over the last few years. Also, the depressed global prices for aluminum arising out of chronic oversupply have dented its profits margins, while costs remain high. ((LME Aluminum Price Graph, LME))
In value-added products businesses, the prices for products are largely insulated from aluminum prices due to the specialized nature of these parts and presence of relatively few suppliers. In the first three quarters of 2013, Alcoa's global rolled products and engineered products businesses accounted for 57% of its total revenues and 79% of its after-tax operating income (ATOI). The aerospace business alone generated $3.8 billion in revenues for the company in 2012. This shows how important these lines of businesses have become in Alcoa's future scheme of things. ((Alcoa Reports Third Quarter Profit Driven by Strong Operating Performance, Alcoa News Release))
Understand How a Company's Products Impact its Stock at Trefis
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Alcoa ( AA ) has announced the signing of a deal worth about $110 million, to supply titanium and aluminum parts to aircraft manufacturer Airbus. This deal shows that traditional producers of metallic jetliner parts are fighting back against competition from sophisticated composite materials which have gained favor among aircraft manufacturers in the recent years. This will enable the press to meet stringent specifications desired by the aerospace industry in producing large and complex titanium, nickel, steel and aluminum forgings.
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Alcoa ( AA ) has announced the signing of a deal worth about $110 million, to supply titanium and aluminum parts to aircraft manufacturer Airbus. Alcoa already has agreements with Airbus for supply of various aluminum sheets, plates and hard alloy extruded products that utilize Alcoa's current, advanced-generation and aluminum lithium alloys. The company already supplies Airbus with aluminum sheet, plate and hard alloy extruded products utilizing its current, advanced-generation and aluminum lithium alloys.
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Alcoa ( AA ) has announced the signing of a deal worth about $110 million, to supply titanium and aluminum parts to aircraft manufacturer Airbus. Alcoa already has agreements with Airbus for supply of various aluminum sheets, plates and hard alloy extruded products that utilize Alcoa's current, advanced-generation and aluminum lithium alloys. ((LME Aluminum Price Graph, LME)) In value-added products businesses, the prices for products are largely insulated from aluminum prices due to the specialized nature of these parts and presence of relatively few suppliers.
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Alcoa ( AA ) has announced the signing of a deal worth about $110 million, to supply titanium and aluminum parts to aircraft manufacturer Airbus. For Alcoa, the deal is another way of growing its engineered products business, which has largely compensated for the company's lackluster showing in its primary aluminum sales business in a tough economic environment. Is Alcoa Well-placed To Supply These Parts?
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1241.0
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2013-12-19 00:00:00 UTC
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#PreMarket Primer: Thursday, December 19: Fed Taper Begins
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https://www.nasdaq.com/articles/premarket-primer-thursday-december-19-fed-taper-begins-2013-12-19
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At the close of its December policy meeting on Wednesday, the US Federal Reserve announced that it was going to cut down on its stimulus spending.
The bank elected to reduce its $85 billion per month asset purchases by $10 billion and promised to keep its key interest rate low even longer than was promised.
The move, although unexpected by some, did not cause the turmoil that many thought it might. Instead, investors saw it as confirmation that the US economy was back on track and that the labor market was showing sustainable improvement.
Top News
In other news around the markets:
On Wednesday, eurozone finance ministers agreed on a proposed system for winding down failing banks, the final piece of the region's banking union plans. The ministers have said the agreement will keep taxpayers from funding banking errors, but EU lawmakers still need to approve the proposal which could prove difficult.
Anti-government protestors took aim at the US on Thursday as they refused to participate in elections until their demands were met. Thai Prime Minister Yingluck Shinawatra called for snap elections in order to calm the region's crisis; however the opposition leader has said he won't participate until the political and electoral reforms the protestors are demanding are carried out. After the US endorsed the elections, protestors marched to the US embassy and called for the current Ambassador to be transferred.
Fighting in South Sudan has spread to the northern town of Bor, where government forces have lost control. The reversal has many worried that the nation may slide into a civil war, which could potentially disrupt the nation's oil fields and cut down on crude supply.
On Wednesday, Angela Merkel was sworn in for her third term as German Chancellor. In her inaugural address, she called for a more integrated Europe with Germany having more oversight of member nation's economic policies. Merkel said such integration would improve the bloc's competitiveness, but after four years of austerity and sky high unemployment, countries like Spain and Italy are likely to see Merkel's objectives as a loss of sovereignty.
Asian Markets
Asian markets were mostly higher following the Fed's decision. The Japanese NIKKEI gained 1.74 percent and Australia's ASX 200 was up 2.08 percent. However China's Shanghai composite lost 0.95 percent and the Hang Seng index fell 1.10 percent.
European Markets
Europe's markets were up across the board, the UK's FTSE gained 0.84 percent and the eurozone's STOXX 600 was up 1.36 percent. The German DAX gained 1.41 percent and France's CAC 40 was up 1.35 percent.
Commodities
Energy futures were mixed, Brent futures were down 0.14 percent but WTI futures gained 0.05 percent. Gold lost 2.57 percent and silver fell 3.81 percent. Industrial metals were mostly lower with copper down 0.84 percent and zinc down 0.45 percent.
Currencies
The dollar gained 0.05 percent against the euro and 0.18 percent against the pound. However the greenback lost 0.24 percent to the yen and 0.07 percent to the Australian dollar.
Earnings
Notable earnings released on Wednesday included:
Oracle Corporation (NASDAQ: ORCL ) reported second quarter EPS of $0.69 on revenue of $9.28 billion, compared to last year's EPS of $0.64 on revenue of $9.11 billion. FedEx Corporation (NYSE: ) reported second quarter EPS of $1.57 on revenue of $11.40 billion, compared to last year's EPS of $1.39 on revenue of $11.11 billion. Lennar Corporation (NYSE: ) reported fourth quarter EPS of $0.73 on revenue of $1.90 billion, compared to last year's EPS of $0.56 on revenue of $1.35 billion. General Mills, Inc. (NYSE: ) reported second quarter EPS of $0.83 on revenue of $4.88 billion, compared to last year's EPS of $0.86 on revenue of $4.88 billion.
Stocks moving in the Premarket included:
Oracle Corp (NYSE: ORCL ) gained 1.18 percent in premarket trade after gaining 2.88 percent on Wednesday United States Steel Corp (NYSE: X ) gained 0.96 percent in premarket trade after rising 3.62 over the past week. Alcoa Inc. (NYSE: AA ) lost 2.44 percent in premarket trade after rising 1.34 percent on Wednesday Newmont Mining Corp. (NYSE: NEM ) fell 1.25 percent in premarket trade after losing 1.14 percent over the past week. Freeport- McMoRan Copper & Gold Inc (NYSE: FCX ) lost 0.60 percent in premarket trade as commodities tumbled.
Notable earnings reports expected on Thursday include:
Nike, Inc. (NYSE: NKE ) is expected to report second quarter EPS of $0.58 on revenue of $6.44 billion, compared to last year's EPS of $0.57 on revenue of $5.96 billion. Rite Aid Corporation (NYSE: RAD ) is expected to report third quarter EPS of $0.04 on revenue of $6.29 billion, compared to last year's EPS of $0.07 on revenue of $6.24 billion. Accenture plc. (NYSE: ACN ) is expected to report first quarter EPS of $1.09 on revenue of $7.25 billion, compared to last year's EPS of $1.06 on revenue of $7.22 billion. Darden Restaurants, Inc. (NYSE: DRI ) is expected to report second quarter EPS of $0.22 on revenue of $2.07 billion, compared to last year's EPS of $0.26 on revenue of $1.96 billion.
Economics
Thursday'seconomic calendarwill be relatively quiet with notable releases including US existing home sales, US initial and continuing jobless claims, British retail sales and the eurozone's current account.
For a recap of Wednesday's market action click .
Tune into Benzinga's pre-market info show with Dennis Dick and Joel Elconin here .
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Alcoa Inc. (NYSE: AA ) lost 2.44 percent in premarket trade after rising 1.34 percent on Wednesday Newmont Mining Corp. (NYSE: NEM ) fell 1.25 percent in premarket trade after losing 1.14 percent over the past week. The ministers have said the agreement will keep taxpayers from funding banking errors, but EU lawmakers still need to approve the proposal which could prove difficult. Thai Prime Minister Yingluck Shinawatra called for snap elections in order to calm the region's crisis; however the opposition leader has said he won't participate until the political and electoral reforms the protestors are demanding are carried out.
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Alcoa Inc. (NYSE: AA ) lost 2.44 percent in premarket trade after rising 1.34 percent on Wednesday Newmont Mining Corp. (NYSE: NEM ) fell 1.25 percent in premarket trade after losing 1.14 percent over the past week. Earnings Notable earnings released on Wednesday included: Oracle Corporation (NASDAQ: ORCL ) reported second quarter EPS of $0.69 on revenue of $9.28 billion, compared to last year's EPS of $0.64 on revenue of $9.11 billion. Stocks moving in the Premarket included: Oracle Corp (NYSE: ORCL ) gained 1.18 percent in premarket trade after gaining 2.88 percent on Wednesday United States Steel Corp (NYSE: X ) gained 0.96 percent in premarket trade after rising 3.62 over the past week.
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Alcoa Inc. (NYSE: AA ) lost 2.44 percent in premarket trade after rising 1.34 percent on Wednesday Newmont Mining Corp. (NYSE: NEM ) fell 1.25 percent in premarket trade after losing 1.14 percent over the past week. Earnings Notable earnings released on Wednesday included: Oracle Corporation (NASDAQ: ORCL ) reported second quarter EPS of $0.69 on revenue of $9.28 billion, compared to last year's EPS of $0.64 on revenue of $9.11 billion. Stocks moving in the Premarket included: Oracle Corp (NYSE: ORCL ) gained 1.18 percent in premarket trade after gaining 2.88 percent on Wednesday United States Steel Corp (NYSE: X ) gained 0.96 percent in premarket trade after rising 3.62 over the past week.
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Alcoa Inc. (NYSE: AA ) lost 2.44 percent in premarket trade after rising 1.34 percent on Wednesday Newmont Mining Corp. (NYSE: NEM ) fell 1.25 percent in premarket trade after losing 1.14 percent over the past week. European Markets Europe's markets were up across the board, the UK's FTSE gained 0.84 percent and the eurozone's STOXX 600 was up 1.36 percent. Earnings Notable earnings released on Wednesday included: Oracle Corporation (NASDAQ: ORCL ) reported second quarter EPS of $0.69 on revenue of $9.28 billion, compared to last year's EPS of $0.64 on revenue of $9.11 billion.
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1242.0
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2013-12-19 00:00:00 UTC
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Alcoa, Bauer in Wastewater Treatment Deal - Analyst Blog
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https://www.nasdaq.com/articles/alcoa-bauer-in-wastewater-treatment-deal-analyst-blog-2013-12-19
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Alcoa Inc. ( AA ) announced that it has entered into an agreement with Germany-based Bauer Resources GmbH to commercialize its Natural Engineered Wastewater Treatment technology.
The system was developed at the Alcoa Technology Center to mimic the physical, chemical and biological processes of natural wetlands. It uses 40% less energy and with operating costs that are 60% lower than the conventional systems.
It also cleans and disinfects the wastewater without the use of chemicals or any water discharge and odors associated with traditional tank systems. The resultant treated water is of high quality and can be reused in manufacturing processes or for irrigation.
Per the agreement, Bauer will utilize Alcoa's engineered wetlands technology to deploy wastewater treatment systems across the globe. Bauer Group possesses considerable wetlands technology expertise.
Alcoa has been engaged in engineered wetlands technology development and executes the process at the Alcoa Technology Center, which treats up to 50,000 gallons of wastewater each day. At its Ma'aden facility in Saudi Arabia, the system will reduce water demand by 2 million gallons each day and save more than $7 million annually.
While the current systems require a fairly large portion of land, Alcoa is working to reduce the footprint to the size of a conventional tank-based system.
Alcoa is a global leader in production and management of primary aluminum, fabricated aluminum, and alumina. The company is also the world's largest miner of bauxite and refiner of alumina.
Alcoa currently carries a Zacks Rank #3 (Hold).
Other mining stocks with favorable Zacks Rank are First Quantum Minerals Ltd. ( FQVLF ), Freeport-McMoRan Copper & Gold Inc. ( FCX ) and Denison Mines Corp. ( DNN ). All hold a Zacks Rank #2 (Buy).
ALCOA INC (AA): Free Stock Analysis Report
DENISON MINES (DNN): Free Stock Analysis Report
FREEPT MC COP-B (FCX): Free Stock Analysis Report
FIRST QUANTUM (FQVLF): Get Free Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Alcoa Inc. ( AA ) announced that it has entered into an agreement with Germany-based Bauer Resources GmbH to commercialize its Natural Engineered Wastewater Treatment technology. ALCOA INC (AA): Free Stock Analysis Report DENISON MINES (DNN): Free Stock Analysis Report FREEPT MC COP-B (FCX): Free Stock Analysis Report FIRST QUANTUM (FQVLF): Get Free Report To read this article on Zacks.com click here. The system was developed at the Alcoa Technology Center to mimic the physical, chemical and biological processes of natural wetlands.
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ALCOA INC (AA): Free Stock Analysis Report DENISON MINES (DNN): Free Stock Analysis Report FREEPT MC COP-B (FCX): Free Stock Analysis Report FIRST QUANTUM (FQVLF): Get Free Report To read this article on Zacks.com click here. Alcoa Inc. ( AA ) announced that it has entered into an agreement with Germany-based Bauer Resources GmbH to commercialize its Natural Engineered Wastewater Treatment technology. Alcoa has been engaged in engineered wetlands technology development and executes the process at the Alcoa Technology Center, which treats up to 50,000 gallons of wastewater each day.
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ALCOA INC (AA): Free Stock Analysis Report DENISON MINES (DNN): Free Stock Analysis Report FREEPT MC COP-B (FCX): Free Stock Analysis Report FIRST QUANTUM (FQVLF): Get Free Report To read this article on Zacks.com click here. Alcoa Inc. ( AA ) announced that it has entered into an agreement with Germany-based Bauer Resources GmbH to commercialize its Natural Engineered Wastewater Treatment technology. Per the agreement, Bauer will utilize Alcoa's engineered wetlands technology to deploy wastewater treatment systems across the globe.
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Alcoa Inc. ( AA ) announced that it has entered into an agreement with Germany-based Bauer Resources GmbH to commercialize its Natural Engineered Wastewater Treatment technology. ALCOA INC (AA): Free Stock Analysis Report DENISON MINES (DNN): Free Stock Analysis Report FREEPT MC COP-B (FCX): Free Stock Analysis Report FIRST QUANTUM (FQVLF): Get Free Report To read this article on Zacks.com click here. The system was developed at the Alcoa Technology Center to mimic the physical, chemical and biological processes of natural wetlands.
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1243.0
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2013-12-17 00:00:00 UTC
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Alcoa, Airbus in $110M Supply Deal - Analyst Blog
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https://www.nasdaq.com/articles/alcoa-airbus-in-%24110m-supply-deal-analyst-blog-2013-12-17
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Aluminum giant Alcoa ( AA ) has cut a multi-year supply pact with Airbus worth roughly $110 million. Under the deal, Alcoa will supply titanium and aluminum aerospace forgings to aircraft maker Airbus.
These parts will be made by Alcoa using its recently modernized 50,000-ton press in Cleveland, Ohio. The press leverages state-of-the-art controls to address stringent aerospace specifications and has the capacity to make the world's largest and most complex titanium, nickel, steel and aluminum forgings.
Titanium parts, to be supplied by Alcoa, include forgings used to connect the wing structure to the engine, for Airbus's most fuel-efficient single-aisle jet - A320neo. The company will also supply large aluminum forgings for the A330 and A380 including the A380 inner rear wing spar, the world's largest aerospace forging. Many of these forgings support the wing structure where strength-to-weight ratio is vital for efficient flight performance.
Alcoa, last year, entered into $1.4 billion multi-year supply agreements with Airbus for its aerospace aluminum sheet, plate and hard alloy extruded products. Apart from sheet, plate, forgings and extrusions, the company's specialty fasteners and structural castings are also used on Airbus aircraft. The new agreement reinforces Alcoa's long-standing relationship with Airbus.
Alcoa is a world leader in production and management of primary aluminum, fabricated aluminum, and alumina. The company is also the world's largest miner of bauxite and refiner of alumina.
Alcoa holds leading market positions in aerospace forgings, extrusions, jet engine airfoils and fastening systems. Its aerospace business delivered $3.8 billion in revenues last year.
Alcoa is seeing strength in the aerospace market. The company expects 9% to 10% growth in the aerospace market this year, backed by higher air travel demand, new aircraft orders, strong existing order backlog and a rebound in the jet segment.
Alcoa currently retains a Zacks Rank #2 (Buy).
Other mining stocks with favorable Zacks Rank are First Quantum Minerals Ltd. ( FQVLF ), Freeport-McMoRan Copper & Gold Inc. ( FCX ) and Denison Mines Corp. ( DNN ). All of them hold a Zacks Rank #2 (Buy).
ALCOA INC (AA): Free Stock Analysis Report
DENISON MINES (DNN): Free Stock Analysis Report
FREEPT MC COP-B (FCX): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Aluminum giant Alcoa ( AA ) has cut a multi-year supply pact with Airbus worth roughly $110 million. ALCOA INC (AA): Free Stock Analysis Report DENISON MINES (DNN): Free Stock Analysis Report FREEPT MC COP-B (FCX): Free Stock Analysis Report To read this article on Zacks.com click here. The press leverages state-of-the-art controls to address stringent aerospace specifications and has the capacity to make the world's largest and most complex titanium, nickel, steel and aluminum forgings.
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ALCOA INC (AA): Free Stock Analysis Report DENISON MINES (DNN): Free Stock Analysis Report FREEPT MC COP-B (FCX): Free Stock Analysis Report To read this article on Zacks.com click here. Aluminum giant Alcoa ( AA ) has cut a multi-year supply pact with Airbus worth roughly $110 million. Alcoa, last year, entered into $1.4 billion multi-year supply agreements with Airbus for its aerospace aluminum sheet, plate and hard alloy extruded products.
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Aluminum giant Alcoa ( AA ) has cut a multi-year supply pact with Airbus worth roughly $110 million. ALCOA INC (AA): Free Stock Analysis Report DENISON MINES (DNN): Free Stock Analysis Report FREEPT MC COP-B (FCX): Free Stock Analysis Report To read this article on Zacks.com click here. Under the deal, Alcoa will supply titanium and aluminum aerospace forgings to aircraft maker Airbus.
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Aluminum giant Alcoa ( AA ) has cut a multi-year supply pact with Airbus worth roughly $110 million. ALCOA INC (AA): Free Stock Analysis Report DENISON MINES (DNN): Free Stock Analysis Report FREEPT MC COP-B (FCX): Free Stock Analysis Report To read this article on Zacks.com click here. Titanium parts, to be supplied by Alcoa, include forgings used to connect the wing structure to the engine, for Airbus's most fuel-efficient single-aisle jet - A320neo.
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1244.0
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2013-12-17 00:00:00 UTC
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US Equities Continue Downward Trend After Yesterday's Bounce
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https://www.nasdaq.com/articles/us-equities-continue-downward-trend-after-yesterdays-bounce-2013-12-17
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European equities weakened significantly despite much stronger investor sentiment on the current economic situation and future expectations. The German ZEW survey of current conditions rose to 32.4 from last month's 29.4, and future expectations rose to 62.0 from 54.6. The expectations survey reading was the highest since 2004. The Italian FTSEMIB (INDEXBIT:FTSEMIB) was the worst performer, losing 1.63%, followed by the French CAC (INDEXEURO:PX1).
The Senate announced that it would hold a vote among all members on Thursday to confirm Janet Yellen as chair of the Federal Reserve. News reports indicated that Republican Mitch McConnell would not vote for her confirmation and Republican Rand Paul would attempt to block the vote.
US equities continued their downward trend for the most part after yesterday's oversold bounce. Telecom was the worst-performing sector in the S&P 500 (INDEXSP:.INX) today, led by declines in Verizon ( VZ ). The material sector was the strongest-performing sector even though precious metals and crude struggled. CF Industries ( CF ) and Alcoa ( AA ) were the stocks with the largest gains in the sector.
US Treasuries rallied throughout the day. The 10-year yield declined by four basis points to 2.84%. The Treasury auctioned $32 billion of 2-year notes at a high yield of 0.345% and received the largest dollar amount of total bids this year.
Channel Advisor reported this morning that Amazon's ( AMZN ) same-store sales had risen a "date shifted" 39% year-over-year for the period between November 28 and December 15. Additionally, eBay's ( EBAY ) sales were up 20.9% year-over-year for the same period, according to the research firm's data.
Tomorrow's Financial Outlook
Tomorrow afternoon the FOMC will release its monetary policy decision at 2:00 p.m. EST. Chairman Ben Bernanke's press conference will follow at 2:30 p.m. Currently, investors think there is an even-money chance the Fed will choose to taper its asset purchases at the meeting due to stronger economic growth in the fourth quarter. The Fed will also release its updated Summary of Economic Projections for 2013 through 2016.
The US will release September to November housing starts and November building permits in the morning before the market opens.
The Reserve Bank of India will release its monetary policy decision overnight. Economists are expecting a small increase in the central bank's repurchase and reverse repo rate. Additionally, the IFO Institute will release its survey results for German investors' future expectations and the current situation. Lastly, the UK will release the rolling 3-month ILO unemployment rate.
FedEx (FDX) will be the first major company to report its fourth-quarter earnings before the market opens. Lennar Corporation (LEN) is also scheduled to report in the pre-market. Oracle (ORCL), Paychex (PAYX), and General Mills (GIS) are scheduled to report after the market closes.
Twitter: @Minyanville
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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CF Industries ( CF ) and Alcoa ( AA ) were the stocks with the largest gains in the sector. The Treasury auctioned $32 billion of 2-year notes at a high yield of 0.345% and received the largest dollar amount of total bids this year. Channel Advisor reported this morning that Amazon's ( AMZN ) same-store sales had risen a "date shifted" 39% year-over-year for the period between November 28 and December 15.
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CF Industries ( CF ) and Alcoa ( AA ) were the stocks with the largest gains in the sector. European equities weakened significantly despite much stronger investor sentiment on the current economic situation and future expectations. Additionally, the IFO Institute will release its survey results for German investors' future expectations and the current situation.
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CF Industries ( CF ) and Alcoa ( AA ) were the stocks with the largest gains in the sector. European equities weakened significantly despite much stronger investor sentiment on the current economic situation and future expectations. The Treasury auctioned $32 billion of 2-year notes at a high yield of 0.345% and received the largest dollar amount of total bids this year.
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CF Industries ( CF ) and Alcoa ( AA ) were the stocks with the largest gains in the sector. The material sector was the strongest-performing sector even though precious metals and crude struggled. The Treasury auctioned $32 billion of 2-year notes at a high yield of 0.345% and received the largest dollar amount of total bids this year.
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1245.0
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2013-12-13 00:00:00 UTC
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Pre-Market Most Active for Dec 13, 2013 : MO, AES, BEN, APC, AA, CTL, FB, QQQ, ICON, MHLD, MSFT, CBST
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https://www.nasdaq.com/articles/pre-market-most-active-dec-13-2013-mo-aes-ben-apc-aa-ctl-fb-qqq-icon-mhld-msft-cbst-2013
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The NASDAQ 100 Pre-Market Indicator is up 8.64 to 3,468.93. The total Pre-Market volume is currently 21,320,686 shares traded.
The following are the most active stocks for the pre-market session :
Altria Group ( MO ) is +0.34 at $37.54, with 5,001,400 shares traded. MO's current last sale is 98.79% of the target price of $38.
The AES Corporation ( AES ) is -0.35 at $13.50, with 3,235,155 shares traded. As reported by Zacks, the current mean recommendation for AES is in the "buy range".
Franklin Resources, Inc. ( BEN ) is unchanged at $53.70, with 2,500,019 shares traded. As reported by Zacks, the current mean recommendation for BEN is in the "buy range".
Anadarko Petroleum Corporation ( APC ) is -8.77 at $74.90, with 1,599,550 shares traded. As reported by Zacks, the current mean recommendation for APC is in the "buy range".
Alcoa Inc. ( AA ) is +0.05 at $9.42, with 1,535,830 shares traded. AA's current last sale is 110.82% of the target price of $8.5.
CenturyLink, Inc. ( CTL ) is unchanged at $30.76, with 850,000 shares traded. As reported in the last short interest update the days to cover for CTL is 8.407731; this calculation is based on the average trading volume of the stock.
Facebook, Inc. ( FB ) is -0.09 at $51.74, with 433,043 shares traded. As reported by Zacks, the current mean recommendation for FB is in the "buy range".
PowerShares QQQ Trust, Series 1 ( QQQ ) is +0.24 at $85.20, with 396,023 shares traded. This represents a 34% increase from its 52 Week Low.
Iconix Brand Group, Inc. ( ICON ) is unchanged at $38.74, with 383,700 shares traded. As reported in the last short interest update the days to cover for ICON is 18.884668; this calculation is based on the average trading volume of the stock.
Maiden Holdings, Ltd. ( MHLD ) is +0.01 at $11.23, with 286,200 shares traded. As reported in the last short interest update the days to cover for MHLD is 12.290667; this calculation is based on the average trading volume of the stock.
Microsoft Corporation ( MSFT ) is +0.07 at $37.29, with 276,325 shares traded. MSFT's current last sale is 99.44% of the target price of $37.5.
Cubist Pharmaceuticals, Inc. ( CBST ) is unchanged at $62.90, with 238,000 shares traded. As reported by Zacks, the current mean recommendation for CBST is in the "buy range".
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Alcoa Inc. ( AA ) is +0.05 at $9.42, with 1,535,830 shares traded. AA's current last sale is 110.82% of the target price of $8.5. As reported in the last short interest update the days to cover for CTL is 8.407731; this calculation is based on the average trading volume of the stock.
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Alcoa Inc. ( AA ) is +0.05 at $9.42, with 1,535,830 shares traded. AA's current last sale is 110.82% of the target price of $8.5. As reported in the last short interest update the days to cover for CTL is 8.407731; this calculation is based on the average trading volume of the stock.
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Alcoa Inc. ( AA ) is +0.05 at $9.42, with 1,535,830 shares traded. AA's current last sale is 110.82% of the target price of $8.5. As reported in the last short interest update the days to cover for CTL is 8.407731; this calculation is based on the average trading volume of the stock.
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AA's current last sale is 110.82% of the target price of $8.5. Alcoa Inc. ( AA ) is +0.05 at $9.42, with 1,535,830 shares traded. As reported by Zacks, the current mean recommendation for FB is in the "buy range".
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1246.0
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2013-12-11 00:00:00 UTC
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#PreMarket Primer for December 11: US Government Takes First Steps Towards Budget Deal
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AA
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https://www.nasdaq.com/articles/premarket-primer-december-11-us-government-takes-first-steps-towards-budget-deal-2013-12
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nan
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nan
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On Tuesday, US policymakers announced a bipartisan budget deal that could avoid another government shutdown in January when a new budget must be decided.
The agreement softens the end of the year sequester by providing some federal agencies and discretionary programs a $63 billion cushion over the next two years. The proposed budget would also cut the nation's deficit by $20 to $23 billion over the next 10 years.
Despite the budget deal's praise in Washington, many worry that it may have a hard time getting through Congress, but it has been hailed as a good first step towards ending three years of impasse in Washington.
Top News
On Tuesday, Spanish Budget Minister Cristobal Montoro said that the nation is likely to see a primary budget surplus a year earlier than expected, in 2015. Spain's recent exit from a nine quarter recession helped brighten the nation's outlook. If the nation does post a surplus in 2015, investors will likely return as it is a good indication of healthy finances. Both Luxembourg and Austria refused to sign on new information sharing rules aimed at cutting down tax evasion within the eurozone on Tuesday. The region's policymakers pledged to crack down on tax evasion by making banking information more transparent before 2014. However, at the final meeting of the bloc's finance ministers, Austria and Luxembourg said they will only agree to the new rules if similar requirements are passed on to Switzerland, Liechtenstein, Monaco, Andorra and San Marino. Just hours after both EU Foreign Policy chief Catherine Ashton and US Deputy Secretary of State Victoria Nuland visited Kiev to call for a non-violent resolution to the country's worst political crisis in almost 10 years, Ukrainian security forces moved in on protestors gathered in the nation's capital. Secretary of State John Kerry has deemed the incident "unacceptable" and pledged US support to the Ukrainian people. The Volcker rule was approved by five financial regulatory agencies on Tuesday, which many believe will reduce pretax profits from the US' largest banks by up to $10 billion. The new rule will limit big bank's ability to make risky bets with their own money and will likely cause several banks to overhaul their trading activities.
Asian Markets
Asian markets were down across the board, the Japanese NIKKEI lost 0.62 percent, China's Shanghai composite was down 1.49 percent and the Shenzhen composite fell 1.18 percent. The Hang Seng index had the largest losses, down 1.87 percent.
European Markets
Europe's markets were also lower, the UK's FTSE fell 0.55 percent and the eurozone's STOXX 600 fell 0.93 percent. France's CAC 40 was down 1.04 percent and the German DAX lost 0.88 percent.
Commodities
Energy futures were quiet, Brent futures were up 0.02 percent and WTI futures lost 0.12 percent. Gold lost 0.29 percent and silver was down 0.15 percent. Industrial metals were mostly higher with zinc posting the largest gains, up 1.67 percent.
Currencies
The euro was steady at $1.37 and the pound lost 0.10 percent to the dollar. The dollar fell 0.30 percent against the yen and gained 0.37 percent against the Australian dollar.
Earnings
Notable earnings released on Tuesday included:
Toll Brothers Inc. (NYSE: TOL ) reported fourth quarter EPS of $0.54 on revenue of $1.04 billion, compared to last year's EPS of $2.35 on revenue of $632.83 million. H &R Block, Inc. (NYSE: HRB ) reported a third quarter loss of $0.42 per share on revenue of $134.30 million, compared to last year's loss of $0.37 on revenue of $137.26 million. AutoZone, Inc. (NYSE: AZO ) reported third quarter EPS of $6.29 on revenue of $2.09 billion, compared to last year's EPS of $5.41 on revenue of $1.99 billion.
Pre-Market Movers
Stocks moving in the Premarket included:
Hewlett-Packard Co (NYSE: HPQ ) fell 0.59 percent in premarket trade after dropping 3.87 percent over the past five days. Perrigo Co. (NYSE: PRGO ) fell 0.39 percent in premarket trade after losing 0.32 percent over the past week. Bank of America Corp (NYSE: BAC ) was down 0.32 percent in premarket trade after falling 0.13 percent on Tuesday Alcoa Inc. (NYSE: AA ) lost 0.31 percent in premarket trade after rising 1.49 percent over the past week.
Notable earnings expected on Wednesday include:
Men's Wearhouse, Inc. (NYSE: MW ) is expected to report third quarter EPS of $0.86 on revenue of $627.14 million, compared to last year's EPS of $0.95 on revenue of $630.97 million. Costco Wholesale Corporation (NASDAQ: COST ) is expected to report third quarter EPS of $1.04 on revenue of $25.47 billion, compared to last year's EPS of $0.95 on revenue of $23.72 billion. Joy Global Inc. (NYSE: JOY ) is expected to report third quarter EPS of $1.11 on revenue of $1.12 billion, compared to last year's EPS of $2.05 on revenue of $1.59 billion.
Economics
Wednesday will be another quiet day for economic data. Notable releases include US crude oil inventory data, US Federal budget balance data, and German and French CPI.
For a recap of Tuesday's market action, click .
Tune into Benzinga's pre-market info show with Dennis Dick and Joel Elconin here .
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Free Trading Education - Check out the free events taking place on Marketfy this week. Spaces are limited. Sign up today.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Bank of America Corp (NYSE: BAC ) was down 0.32 percent in premarket trade after falling 0.13 percent on Tuesday Alcoa Inc. (NYSE: AA ) lost 0.31 percent in premarket trade after rising 1.49 percent over the past week. Both Luxembourg and Austria refused to sign on new information sharing rules aimed at cutting down tax evasion within the eurozone on Tuesday. However, at the final meeting of the bloc's finance ministers, Austria and Luxembourg said they will only agree to the new rules if similar requirements are passed on to Switzerland, Liechtenstein, Monaco, Andorra and San Marino.
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Bank of America Corp (NYSE: BAC ) was down 0.32 percent in premarket trade after falling 0.13 percent on Tuesday Alcoa Inc. (NYSE: AA ) lost 0.31 percent in premarket trade after rising 1.49 percent over the past week. Earnings Notable earnings released on Tuesday included: Toll Brothers Inc. (NYSE: TOL ) reported fourth quarter EPS of $0.54 on revenue of $1.04 billion, compared to last year's EPS of $2.35 on revenue of $632.83 million. Notable earnings expected on Wednesday include: Men's Wearhouse, Inc. (NYSE: MW ) is expected to report third quarter EPS of $0.86 on revenue of $627.14 million, compared to last year's EPS of $0.95 on revenue of $630.97 million.
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Bank of America Corp (NYSE: BAC ) was down 0.32 percent in premarket trade after falling 0.13 percent on Tuesday Alcoa Inc. (NYSE: AA ) lost 0.31 percent in premarket trade after rising 1.49 percent over the past week. Earnings Notable earnings released on Tuesday included: Toll Brothers Inc. (NYSE: TOL ) reported fourth quarter EPS of $0.54 on revenue of $1.04 billion, compared to last year's EPS of $2.35 on revenue of $632.83 million. Joy Global Inc. (NYSE: JOY ) is expected to report third quarter EPS of $1.11 on revenue of $1.12 billion, compared to last year's EPS of $2.05 on revenue of $1.59 billion.
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Bank of America Corp (NYSE: BAC ) was down 0.32 percent in premarket trade after falling 0.13 percent on Tuesday Alcoa Inc. (NYSE: AA ) lost 0.31 percent in premarket trade after rising 1.49 percent over the past week. Both Luxembourg and Austria refused to sign on new information sharing rules aimed at cutting down tax evasion within the eurozone on Tuesday. The new rule will limit big bank's ability to make risky bets with their own money and will likely cause several banks to overhaul their trading activities.
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1247.0
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2013-12-09 00:00:00 UTC
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Keep Looking to Growth and Cyclicals - Analyst Blog
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AA
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https://www.nasdaq.com/articles/keep-looking-growth-and-cyclicals-analyst-blog-2013-12-09
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nan
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This is an excerpt from John Blank's full Zacks Market Strategy Report . To view it in its entirety, please click here .
S&P 500 Fair Value
December holiday season is here. And the unemployment rate is 7%. That is spreading holiday cheer.
Raging bulls use a $121 earnings number for 2014 and say 1815 is fair value now. Apply 15 to $118 per share analytic bulls expect for the S&P 500 in 2014. That computes to fair value at 1770.
If you say 2014 earnings projections are too high, trim back to a conservative $109 per share for a backward look into 2013. That gives the S&P 500 a fair value of 1635, seen as a very low number now. This number's arrival would reflect deep pessimism on ongoing Federal budget negotiations, or a non-U.S. blow-up.
Q4 Earnings Outlook
For Q4, projected total earnings stand at +6.7%. Four sectors look for double-digit growth in Q4: Financials (25.3%), Telcos (14.1%), Industrials (14.3%) and Materials (10.1%).
After 494 companies reported, we saw Q3 earnings up +3.4% on +2.9% growth in revenues. In early August, forecasters anticipated +3.3% total earnings growth. S&P 500 earnings in Q2 were up +2.5% on +1.9% growth in revenues. S&P 500 earnings in Q1 were up +2.5% on barely positive growth in revenues.
Zacks Company/Industry/Sector Telescope for December
A distinct but subtle ranking leans towards cyclical sectors and growth areas. Why? U.S. discretionary spending is well. Materials are further off their bottom. Finance is gearing up and showing stability entering the New Year. Industrials have a broad set of drivers. IT mobile is a key story.
Airlines are the best example of what works this December. They benefit from low oil prices, high stock prices, the holiday travel season, and more plentiful jobs.
(1) Consumer Discretionary is the Most Attractive sector. Leisure leads by a wide margin, then Autos-Tires & Trucks, Media, Apparel, and Other-Consumer Discretionary. Consumer Electronics is at the bottom.
Company to look at: Home Inns & Hotels Management Inc. ( HMIN )
Home Inns is a leading economy hotel chain in China, based on the number of hotels and hotel rooms, as well as the geographic coverage of the hotel chain.
(2) Materials keep up a big upgrade. The influence of China is heavily felt. Steel, non-Ferrous Metals, and Chemicals are all Attractive now.
Company to look at: Alcoa Inc. ( AA ).
Alcoa Inc. is the world's leading producer and manager of primary aluminum, fabricated aluminum and alumina facilities, and is active in all major aspects of the industry.
(3) For Finance, a stable show of winners and losers sustains. The winner is Finance with its emphasis on the consumer. Investment Banking & Brokering come up pretty well. Insurance remains strong. Banks & Thrifts, Major Banks, Real Estate and Investment Funds stay at Market.
Company to look at: Euronet Worldwide ( EEFT ).
Euronet Services Inc. is an industry leader in providing secure electronic financial transaction solutions. The company offers financial payment middleware, financial network gateways, outsourcing and consulting services to financial institutions and mobile operators.
(4) Industrials have four winners, two fence sitters, and six losers. To go long here, look to Aerospace & Defense and Airlines.
(5) Info Tech remains a sector with shifting sands. Telco Equipment looks Very Attractive. Misc-Tech and Computer Software-Services look Attractive. Electronics is at Market. Semiconductors sink to Unattractive.
(6) Consumer Staples gets a downgrade. Just Soap & Cosmetics remains Very Attractive. Strength is luxury. Beverages and Food is Unattractive. Agri-business remains in the dumps at Very Unattractive.
(9) In Health Care, a Market weight. The Drugs industry goes down to Market. Medical Products and Medical Care Industries stay at Market.
(8) Energy is a solid Market Weight... at best. The only attractive industry is Energy-Alternate Sources. North American Bakken production continues to ramp up and oil prices fall towards $90 a barrel.
(9) Telcos goes to a Market weight.
(10) Utilities are not interesting across the board.
This is an excerpt from John Blank's full Zacks Market Strategy Report . To view it in its entirety, please click here .
ALCOA INC (AA): Free Stock Analysis Report
EURONET WORLDWD (EEFT): Free Stock Analysis Report
HOME INNS&HOTEL (HMIN): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Company to look at: Alcoa Inc. ( AA ). ALCOA INC (AA): Free Stock Analysis Report EURONET WORLDWD (EEFT): Free Stock Analysis Report HOME INNS&HOTEL (HMIN): Free Stock Analysis Report To read this article on Zacks.com click here. This number's arrival would reflect deep pessimism on ongoing Federal budget negotiations, or a non-U.S. blow-up.
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ALCOA INC (AA): Free Stock Analysis Report EURONET WORLDWD (EEFT): Free Stock Analysis Report HOME INNS&HOTEL (HMIN): Free Stock Analysis Report To read this article on Zacks.com click here. Company to look at: Alcoa Inc. ( AA ). This is an excerpt from John Blank's full Zacks Market Strategy Report .
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ALCOA INC (AA): Free Stock Analysis Report EURONET WORLDWD (EEFT): Free Stock Analysis Report HOME INNS&HOTEL (HMIN): Free Stock Analysis Report To read this article on Zacks.com click here. Company to look at: Alcoa Inc. ( AA ). Four sectors look for double-digit growth in Q4: Financials (25.3%), Telcos (14.1%), Industrials (14.3%) and Materials (10.1%).
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Company to look at: Alcoa Inc. ( AA ). ALCOA INC (AA): Free Stock Analysis Report EURONET WORLDWD (EEFT): Free Stock Analysis Report HOME INNS&HOTEL (HMIN): Free Stock Analysis Report To read this article on Zacks.com click here. Four sectors look for double-digit growth in Q4: Financials (25.3%), Telcos (14.1%), Industrials (14.3%) and Materials (10.1%).
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1248.0
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2013-12-06 00:00:00 UTC
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What Should Bill Gross Do? - Real Time Insight
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AA
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https://www.nasdaq.com/articles/what-should-bill-gross-do-real-time-insight-2013-12-06
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nan
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This morn, November U.S. non-farm jobs numbers showed us +203K additions. That's a modest beat, and in line with hefty ADP additions shown Wednesday.
The biggest surprise? The household unemployment rate came out at 7.0%.
The Fed tracks this unemployment rate to decide on a taper in its bond buying. That was the news of note this morning.
Now, let's see what the bond and stock markets did with the robust jobs data. The U.S.10-year Treasury rate went from 2.88% to 2.92% before falling back to 2.90% on the news. That means the prices of existing long bonds fell. Stock futures kept strongly in green arrows going into the open.
That took me online to find Bill Gross's post in Barron's from December 3, 2013, "What's Keeping Me Up at Night". I took this excerpt out for our Real Time Insight discussion.
What Keeps Mohamed and Me Up at Night?
"Mohamed [El Erian], the creator of the "New Normal" characterization of our post-Lehman global economy, now focuses on the possibility of a "T junction".
The "T" is an investment future where markets approach a time-uncertain inflection point, and then head either bubbly right or bubble-popping left due to the negative aspects of fiscal and monetary policies in a highly levered world.
We are both in agreement on the perilous future potential of market movements. Mohamed's "T", I believe, was meant to be more descriptive than literal, and is a concept, like the New Normal, that may gain acceptance over the next few months or years."
But aside from a financial nuclear bomb à la Lehman Brothers,
"Our actual scenario is likely to play out more gradually as private markets realize that the policy Kings/Queens have no clothes and as investors gradually vacate historical asset classes in recognition of insufficient returns relative to increasing risk."
In other words, Bill Gross's base case is one where investor's vacate historic asset classes (aka Investors exit BONDS). This is killing off bond funds at places like PIMCO.
My RTI Question: Tell Bill Gross What to Do with PIMCO's business!
ALCOA INC (AA): Free Stock Analysis Report
EURONET WORLDWD (EEFT): Free Stock Analysis Report
HOME INNS&HOTEL (HMIN): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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ALCOA INC (AA): Free Stock Analysis Report EURONET WORLDWD (EEFT): Free Stock Analysis Report HOME INNS&HOTEL (HMIN): Free Stock Analysis Report To read this article on Zacks.com click here. "Mohamed [El Erian], the creator of the "New Normal" characterization of our post-Lehman global economy, now focuses on the possibility of a "T junction". The "T" is an investment future where markets approach a time-uncertain inflection point, and then head either bubbly right or bubble-popping left due to the negative aspects of fiscal and monetary policies in a highly levered world.
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ALCOA INC (AA): Free Stock Analysis Report EURONET WORLDWD (EEFT): Free Stock Analysis Report HOME INNS&HOTEL (HMIN): Free Stock Analysis Report To read this article on Zacks.com click here. But aside from a financial nuclear bomb à la Lehman Brothers, "Our actual scenario is likely to play out more gradually as private markets realize that the policy Kings/Queens have no clothes and as investors gradually vacate historical asset classes in recognition of insufficient returns relative to increasing risk." In other words, Bill Gross's base case is one where investor's vacate historic asset classes (aka Investors exit BONDS).
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ALCOA INC (AA): Free Stock Analysis Report EURONET WORLDWD (EEFT): Free Stock Analysis Report HOME INNS&HOTEL (HMIN): Free Stock Analysis Report To read this article on Zacks.com click here. But aside from a financial nuclear bomb à la Lehman Brothers, "Our actual scenario is likely to play out more gradually as private markets realize that the policy Kings/Queens have no clothes and as investors gradually vacate historical asset classes in recognition of insufficient returns relative to increasing risk." In other words, Bill Gross's base case is one where investor's vacate historic asset classes (aka Investors exit BONDS).
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ALCOA INC (AA): Free Stock Analysis Report EURONET WORLDWD (EEFT): Free Stock Analysis Report HOME INNS&HOTEL (HMIN): Free Stock Analysis Report To read this article on Zacks.com click here. This morn, November U.S. non-farm jobs numbers showed us +203K additions. Stock futures kept strongly in green arrows going into the open.
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1249.0
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2013-12-06 00:00:00 UTC
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ArcelorMittal Acknowledged by DOE - Analyst Blog
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AA
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https://www.nasdaq.com/articles/arcelormittal-acknowledged-by-doe-analyst-blog-2013-12-06
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nan
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Steel giant ArcelorMittal ( MT ) has been acknowledged by the U.S. Department of Energy (DOE) for its leadership in the Better Buildings, Better Plants Programme. The program supports the Obama administration's target of increasing energy productivity in the U.S. by 2030.
ArcelorMittal joined the program in Aug 2013 and is committed to reducing its energy intensity by 10% across 17 plants. The company remains optimistic about working with the department of energy and other partner companies to enhance its energy management efforts, thereby reducing greenhouse gas emissions, protecting the environment and improving the sustainability of its operations.
As part of the Better Buildings, Better Plants Programme, ArcelorMittal conducted an energy efficiency training program. Through it, the staff was given hands-on technical training to help find new opportunities for cutting energy use and saving money.
Energy is one of the most expensive factors in steel-making process with more than $200 billion spent on powering commercial buildings, and another $200 billion on expenses for power manufacturing facilities across the U.S. Thus, to ensure energy bill savings, President Obama introduced the Better Buildings challenge in 2011.
Furthermore, through the Better Plants Programme, the U.S. energy department is partnering with more than 120 manufacturers across the country. The energy department also recognized Alcoa Inc. ( AA ) under the programme after ArcelorMittal.
ArcelorMittal, is expanding its steel-making capacity and raw materials self-sufficiency through a combination of brownfield growth, new greenfield projects and acquisition opportunities, mainly in emerging markets. The company is also highly focused on narrowing debt, lowering costs and improving efficiency. On the cost-saving front, ArcelorMittal is progressing with a new $3 billion cost optimization program that mostly focuses on variable cost reductions in its plants.
ArcelorMittal currently carries a Zacks Rank #3 (Hold).
Better-ranked companies in the steel and related industries include Companhia Siderurgica Nacional ( SID ) and United States Steel Corp . ( X ). While Companhia Siderurgica holds a Zacks Rank #1 (Strong Buy), United States Steel has a Zacks Rank #2 (Buy).
ALCOA INC (AA): Free Stock Analysis Report
ARCELOR MITTAL (MT): Free Stock Analysis Report
UTD STATES STL (X): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The energy department also recognized Alcoa Inc. ( AA ) under the programme after ArcelorMittal. ALCOA INC (AA): Free Stock Analysis Report ARCELOR MITTAL (MT): Free Stock Analysis Report UTD STATES STL (X): Free Stock Analysis Report To read this article on Zacks.com click here. Steel giant ArcelorMittal ( MT ) has been acknowledged by the U.S. Department of Energy (DOE) for its leadership in the Better Buildings, Better Plants Programme.
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ALCOA INC (AA): Free Stock Analysis Report ARCELOR MITTAL (MT): Free Stock Analysis Report UTD STATES STL (X): Free Stock Analysis Report To read this article on Zacks.com click here. The energy department also recognized Alcoa Inc. ( AA ) under the programme after ArcelorMittal. As part of the Better Buildings, Better Plants Programme, ArcelorMittal conducted an energy efficiency training program.
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The energy department also recognized Alcoa Inc. ( AA ) under the programme after ArcelorMittal. ALCOA INC (AA): Free Stock Analysis Report ARCELOR MITTAL (MT): Free Stock Analysis Report UTD STATES STL (X): Free Stock Analysis Report To read this article on Zacks.com click here. Steel giant ArcelorMittal ( MT ) has been acknowledged by the U.S. Department of Energy (DOE) for its leadership in the Better Buildings, Better Plants Programme.
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The energy department also recognized Alcoa Inc. ( AA ) under the programme after ArcelorMittal. ALCOA INC (AA): Free Stock Analysis Report ARCELOR MITTAL (MT): Free Stock Analysis Report UTD STATES STL (X): Free Stock Analysis Report To read this article on Zacks.com click here. As part of the Better Buildings, Better Plants Programme, ArcelorMittal conducted an energy efficiency training program.
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1250.0
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2013-11-25 00:00:00 UTC
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Sector Update: Energy Shares Lower; Crude Futures Drop on Iran Deal
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AA
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https://www.nasdaq.com/articles/sector-update-energy-shares-lower-crude-futures-drop-iran-deal-2013-11-25
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Top Energy Stocks
XOM: -0.01%
CVX: -0.27%
COP: -0.93%
SLB: flat
OXY: +0.22%
Energy shares are lower in pre-market, while crude oil futures drop on new deal with Iran regarding its nuclear program.
Light, sweet crude oil for January delivery is trading down $1.52 at $93.40 a barrel. In other energy futures, heating oil is up $0.68 at $3.03 a gallon while natural gas is up $0.04 at $3.74 per million British thermal units.
In energy ETFs, the United States Oil Fund ( USO ) is down 1.3% at $33.60. The United States Natural Gas ETF ( UNG ) is up 1.02% at $18.85.
In other energy news, Goldman Sachs has raised its rating on Alcoa ( AA ) to Buy and raised its price target to $11 from $8. AA is up 3% in pre-market trade, near its 52-week high of $9.97.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In other energy news, Goldman Sachs has raised its rating on Alcoa ( AA ) to Buy and raised its price target to $11 from $8. AA is up 3% in pre-market trade, near its 52-week high of $9.97. Energy shares are lower in pre-market, while crude oil futures drop on new deal with Iran regarding its nuclear program.
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In other energy news, Goldman Sachs has raised its rating on Alcoa ( AA ) to Buy and raised its price target to $11 from $8. AA is up 3% in pre-market trade, near its 52-week high of $9.97. In energy ETFs, the United States Oil Fund ( USO ) is down 1.3% at $33.60.
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In other energy news, Goldman Sachs has raised its rating on Alcoa ( AA ) to Buy and raised its price target to $11 from $8. AA is up 3% in pre-market trade, near its 52-week high of $9.97. Energy shares are lower in pre-market, while crude oil futures drop on new deal with Iran regarding its nuclear program.
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AA is up 3% in pre-market trade, near its 52-week high of $9.97. In other energy news, Goldman Sachs has raised its rating on Alcoa ( AA ) to Buy and raised its price target to $11 from $8. Energy shares are lower in pre-market, while crude oil futures drop on new deal with Iran regarding its nuclear program.
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1251.0
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2013-11-25 00:00:00 UTC
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#PreMarket Primer: Monday, November 25: Iran Deal Reached
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https://www.nasdaq.com/articles/premarket-primer-monday-november-25-iran-deal-reached-2013-11-25
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nan
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nan
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World leaders and Iranian officials came to an agreement over the weekend regarding Iran's nuclear program.
The deal will relieve Iran from some of the sanctions that have put pressure on its economy in exchange for the nation's willingness to curb its nuclear development. Although the deal is only a temporary fix, set to last just six months, many are heralding it as a massive step towards a lasting treaty in a decade long standoff between the two sides. Oil prices tumbled following the news even though the deal will not ease sanctions on Iranian oil just yet.
Top News
In other news around the markets:
Prominent fund managers expressed their worries at the Reuters 2014 Global Investment Outlook Summit, saying that the market's recent record setting highs are likely to crumble. Investors are concerned that the Fed's stimulus taper in 2014 could bring equities down from their 2013 highs. Carl Icahn has said earnings in 2013 have largely been a product of easy money rather than actual profitability, and the Fed's taper will likely readjust markets.
Chrysler Group LLC is working to complete an IPO by mid-December and could set a price range as early as this week. The company's two owners are trying to strike a deal that will allow majority owner, Fiat, to take full control before the IPO takes place.
Over the weekend, ECB executive board member Benoit Coeure said that Europe's central bank was planning to keep rates low for the foreseeable future and that the bank is prepared to ease further if inflation data continues to decline. Inflation in the 17 nation bloc has fallen to 0.7 percent, well below the bank's 2 percent target, and caused many to worry that the region could slip into a period of deflation.
Apple paid about $350 million to acquire PrimeSense, an Israeli start-up that specializes in motion sensitive technology. The purchase indicates that the company is moving toward new, more interactive, features for it's devices.
Asian Markets
Asian markets were mixed to begin the week, the Japanese NIKKEI was up 1.54 percent but China's Shanghai composite was down 0.47 percent. The South Korean KOSPI was up 0.49 percent and Australia's ASX 200 was up 0.32 percent.
European Markets
Europe's markets were quiet on Monday, the UK's FTSE was down 0.11 percent and the eurozone's STOXX 600 was flat. Italy's MIB lost 0.10 percent, and the German DAX was unchanged.
Commodities
Energy futures were under pressure with the new Iran deal, Brent futures were down 2.45 percent and WTI futures lost 1.61 percent. Gold lost 1.03 percent and silver slid 1.11 percent. Industrial metals were mixed with copper down 0.25 percent and Zinc up 1.06 percent.
Currencies
The euro was steady at $1.35 and the pound fell 0.05 percent against the greenback. The dollar gained 0.49 percent against the yen and 0.45 percent against the Australian dollar.
Earnings
No notable earnings were released on Friday.
Pre-Market Movers
Stocks moving in the Premarket included:
Alcoa Inc (NYSE: AA ) gained 2.27 percent in premarket trade after rising 2.33 percent last week.
Delta Airlines Inc. (NYSE: DAL ) rose 1.64 percent in premarket trade after increasing 2.00 percent on Friday
Omnicom Group Inc (NYSE: OMC ) gained 1.20 percent in premarket trade after rising 2.56 percent last week.
Carnival Corp (NYSE: CCL ) rose 1.19 percent in premarket trade after gaining 0.67 percent on Friday
Newmont Mining Corp (NYSE: NEM ) fell 0.70 percent in premarket trade after falling 7.38 percent over the past five days
Notable earnings expected on Monday include:
Nuance Communications (NASDAQ: NUAN ) is expected to report fourth quarter EPS of $0.29 on revenue of $489.56 million, compared to last year's EPS of $0.51 on revenue of $490.09 million.
Qihoo 360 Technology Co. Ltd. (NYSE: QIHU ) is expected to report third quarter EPS of $0.37 on revenue of $181.51 million, compared to last year's EPS of $0.20 on revenue of $84.04 million.
Economics
Monday'seconomic calendarwill be relatively quiet. Notable releases expected include US pending home sales, the Italian trade balance and the French business survey.
For a recap of Friday's market action click .
Tune into Benzinga's pre-market info show with Dennis Dick and Joel Elconin here .
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Free Trading Education - Check out the free events taking place on Marketfy this week. Spaces are limited. Sign up today.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Pre-Market Movers Stocks moving in the Premarket included: Alcoa Inc (NYSE: AA ) gained 2.27 percent in premarket trade after rising 2.33 percent last week. The deal will relieve Iran from some of the sanctions that have put pressure on its economy in exchange for the nation's willingness to curb its nuclear development. Carl Icahn has said earnings in 2013 have largely been a product of easy money rather than actual profitability, and the Fed's taper will likely readjust markets.
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Pre-Market Movers Stocks moving in the Premarket included: Alcoa Inc (NYSE: AA ) gained 2.27 percent in premarket trade after rising 2.33 percent last week. Delta Airlines Inc. (NYSE: DAL ) rose 1.64 percent in premarket trade after increasing 2.00 percent on Friday Omnicom Group Inc (NYSE: OMC ) gained 1.20 percent in premarket trade after rising 2.56 percent last week. Carnival Corp (NYSE: CCL ) rose 1.19 percent in premarket trade after gaining 0.67 percent on Friday Newmont Mining Corp (NYSE: NEM ) fell 0.70 percent in premarket trade after falling 7.38 percent over the past five days Notable earnings expected on Monday include: Nuance Communications (NASDAQ: NUAN ) is expected to report fourth quarter EPS of $0.29 on revenue of $489.56 million, compared to last year's EPS of $0.51 on revenue of $490.09 million.
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Pre-Market Movers Stocks moving in the Premarket included: Alcoa Inc (NYSE: AA ) gained 2.27 percent in premarket trade after rising 2.33 percent last week. Delta Airlines Inc. (NYSE: DAL ) rose 1.64 percent in premarket trade after increasing 2.00 percent on Friday Omnicom Group Inc (NYSE: OMC ) gained 1.20 percent in premarket trade after rising 2.56 percent last week. Carnival Corp (NYSE: CCL ) rose 1.19 percent in premarket trade after gaining 0.67 percent on Friday Newmont Mining Corp (NYSE: NEM ) fell 0.70 percent in premarket trade after falling 7.38 percent over the past five days Notable earnings expected on Monday include: Nuance Communications (NASDAQ: NUAN ) is expected to report fourth quarter EPS of $0.29 on revenue of $489.56 million, compared to last year's EPS of $0.51 on revenue of $490.09 million.
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Pre-Market Movers Stocks moving in the Premarket included: Alcoa Inc (NYSE: AA ) gained 2.27 percent in premarket trade after rising 2.33 percent last week. European Markets Europe's markets were quiet on Monday, the UK's FTSE was down 0.11 percent and the eurozone's STOXX 600 was flat. Gold lost 1.03 percent and silver slid 1.11 percent.
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1252.0
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2013-11-25 00:00:00 UTC
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Sector Update: Energy
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https://www.nasdaq.com/articles/sector-update-energy-2013-11-25-1
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Energy shares are lower in pre-market, while crude oil futures drop on a new deal with Iran regarding its nuclear program.
Light, sweet crude oil for January delivery is trading down $1.52 at $93.40 a barrel. In other energy futures, heating oil is up $0.68 at $3.03 a gallon while natural gas is up $0.04 at $3.74 per million British thermal units.
In energy ETFs, the United States Oil Fund ( USO ) is down 1.3% at $33.60. The United States Natural Gas ETF ( UNG ) is up 1.02% at $18.85.
In other energy news, Goldman Sachs has raised its rating on Alcoa ( AA ) to Buy and raised its price target to $11 from $8. AA is up 3% in pre-market trade, near its 52-week high of $9.97.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In other energy news, Goldman Sachs has raised its rating on Alcoa ( AA ) to Buy and raised its price target to $11 from $8. AA is up 3% in pre-market trade, near its 52-week high of $9.97. Energy shares are lower in pre-market, while crude oil futures drop on a new deal with Iran regarding its nuclear program.
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In other energy news, Goldman Sachs has raised its rating on Alcoa ( AA ) to Buy and raised its price target to $11 from $8. AA is up 3% in pre-market trade, near its 52-week high of $9.97. In energy ETFs, the United States Oil Fund ( USO ) is down 1.3% at $33.60.
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In other energy news, Goldman Sachs has raised its rating on Alcoa ( AA ) to Buy and raised its price target to $11 from $8. AA is up 3% in pre-market trade, near its 52-week high of $9.97. Energy shares are lower in pre-market, while crude oil futures drop on a new deal with Iran regarding its nuclear program.
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In other energy news, Goldman Sachs has raised its rating on Alcoa ( AA ) to Buy and raised its price target to $11 from $8. AA is up 3% in pre-market trade, near its 52-week high of $9.97. Energy shares are lower in pre-market, while crude oil futures drop on a new deal with Iran regarding its nuclear program.
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1253.0
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2013-11-13 00:00:00 UTC
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#PreMarket Primer: Wednesday, November 13: Will Or Won't The Fed Taper?
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https://www.nasdaq.com/articles/premarket-primer-wednesday-november-13-will-or-wont-fed-taper-2013-11-13
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Atlanta's Federal Reserve Bank President Dennis Lockhart told reporters on Tuesday that the bank has not ruled out the possibility of beginning to taper its stimulus spending at the Fed's December meeting.
Lockhart also commented that monetary policy should continue to be accommodative for "quite some time"; adding to growing confusion about the bank's direction.
Top News
In other news around the markets:
Chinese shares slid after investors were disappointed with the Chinese government's initial release of the nation's blueprints for the coming decade. The reform agenda did not include many specific details and instead offered a more general overview of the nation's direction. US Airways and American Airlines have come to an antitrust settlement with the government, allowing them to move forward on their $17 billion merger. When the two combine, they will become the world's largest airline. After a partnership between Kraft Foods and Starbucks went sour in 2010, Starbucks terminated the agreement without Kraft's consent, resulting in a bitter, 3 year legal battle. On Tuesday the fight ended with Starbucks ordered to pay $2.23 billion in damages as well as $527 million for attorney's fees. As Africa becomes more tech savy and urbanized, Samsung is hoping to gain market share and double its sales on the continent in 2014. The company expects to sell 50 percent of Africa's smartphones next year; with usage of the mobile devices on the continent forecast to increase to 20 percent of the market.
Asian Markets
Asian markets were down across the board, the Japanese NIKKEI lost 0.15 percent, China's Shanghai composite fell 1.83 percent and the Shenzhen composite lost 1.93 percent. The Hang Seng index was down 1.91 percent and the JSX composite fell 1.80 percent.
European Markets
Europe's markets were started the day on a low note; the UK's FTSE was down 0.83 percent and the eurozone's STOXX 600fell 0.41 percent. The German DAX was down 0.23 percent and France's CAC 50 lost 0.33 percent.
Commodities
Energy futures gained on Wednesday morning, Brent futures were up 0.59 percent and WTI futures gained 0.19 percent. Gold was up 0.28 percent, but silver lost 0.09 percent. Industrial metals were down across the board with copper posting the largest losses, down 1.30 percent.
Currencies
The euro was steady at $1.34, and the pound gained 0.10 percent against the dollar. The dollar lost 0.10 percent to the yen but gained 0.09 percent on the Australian dollar.
Earnings
Notable earnings released on Tuesday included:
D.R. Horton, Inc. (NYSE: DHI ) reported fourth quarter EPS of $0.40 on revenue of $1.82 billion, compared to last year's EPS of $0.30 on revenue of $1.30 billion. YRC Worldwide, Inc. (NASDAQ: YRCW ) reported a third quarter loss of $4.45 on revenue of $1.25 billion, compared to last year's loss of $4.30 on revenue of $1.24 billion. DISH Network Corporation (NASDAQ: DISH ) reported third quarter ESP of $0.68 on revenue of $3.60 billion, compared to last year's loss of $0.35 on revenue of $3.52 billion.
Pre-Market Movers
Stocks moving in the Premarket included:
United States Steel Corp (NYSE: X ) gained 2.70 percent in premarket trade after losing 0.66 percent on Tuesday. Red Hat Inc. (NYSE: RHT ) gained 0.85 percent in premarket trade after rising 3.89 percent over the past five days. Alcoa Inc. (NYSE: AA ) lost 1.12 percent in premarket trade after suffering a steep 7.35 percent loss on Thursday. Bank of America Corp (NYSE: BAC ) lost 0.84 percent in premarket trade after rising 2.80 percent over the past week.
Earnings reports expected on Wednesday include:
Cisco Systems, Inc. (NASDAQ: CSCO ) is expected to report first quarter EPS of $0.51 on revenue of $12.36 billion, compared to last year's EPS of $0.48 on revenue of $11.88 billion. Macy's Inc. (NYSE: M ) is expected to report third quarter EPS of $0.39 on revenue of $6.20 billion, compared to last year's EPS of $0.36 on revenue of $6.08 billion. Pinnacle Foods (NYSE: PF ) is expected to report third quarter EPS of $0.35 on revenue of $563.16 million.
Economics
On Wednesday, all eyes will be on the Fed as Chairman Ben Bernanke is set to speak. In Europe, several economic releases are due out including the Bank of England's inflation report, the British unemployment rate, eurozone industrial production and Spanish CPI.
For a recap of Tuesday's market action click .
Tune into Benzinga's pre-market info show with Dennis Dick and Joel Elconin here .
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Alcoa Inc. (NYSE: AA ) lost 1.12 percent in premarket trade after suffering a steep 7.35 percent loss on Thursday. Lockhart also commented that monetary policy should continue to be accommodative for "quite some time"; adding to growing confusion about the bank's direction. US Airways and American Airlines have come to an antitrust settlement with the government, allowing them to move forward on their $17 billion merger.
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Alcoa Inc. (NYSE: AA ) lost 1.12 percent in premarket trade after suffering a steep 7.35 percent loss on Thursday. DISH Network Corporation (NASDAQ: DISH ) reported third quarter ESP of $0.68 on revenue of $3.60 billion, compared to last year's loss of $0.35 on revenue of $3.52 billion. Bank of America Corp (NYSE: BAC ) lost 0.84 percent in premarket trade after rising 2.80 percent over the past week.
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Alcoa Inc. (NYSE: AA ) lost 1.12 percent in premarket trade after suffering a steep 7.35 percent loss on Thursday. Asian Markets Asian markets were down across the board, the Japanese NIKKEI lost 0.15 percent, China's Shanghai composite fell 1.83 percent and the Shenzhen composite lost 1.93 percent. Pre-Market Movers Stocks moving in the Premarket included: United States Steel Corp (NYSE: X ) gained 2.70 percent in premarket trade after losing 0.66 percent on Tuesday.
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Alcoa Inc. (NYSE: AA ) lost 1.12 percent in premarket trade after suffering a steep 7.35 percent loss on Thursday. European Markets Europe's markets were started the day on a low note; the UK's FTSE was down 0.83 percent and the eurozone's STOXX 600fell 0.41 percent. The dollar lost 0.10 percent to the yen but gained 0.09 percent on the Australian dollar.
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1254.0
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2013-11-12 00:00:00 UTC
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Pre-Market Most Active for Nov 12, 2013 : SRPT, HOLX, AA, MO, VOD, CTL, VNDA, DIS, MU, TSM, ALU, WYNN
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https://www.nasdaq.com/articles/pre-market-most-active-nov-12-2013-srpt-holx-aa-mo-vod-ctl-vnda-dis-mu-tsm-alu-wynn-2013
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The NASDAQ 100 Pre-Market Indicator is down -6.44 to 3,356.54. The total Pre-Market volume is currently 17,513,416 shares traded.
The following are the most active stocks for the pre-market session :
Sarepta Therapeutics, Inc. ( SRPT ) is -19.57 at $16.99, with 2,908,165 shares traded. RTT News Reports: Sarepta Therapeutics Inc. ( SRPT ) Has Risen To A New High For The Year
Hologic, Inc. ( HOLX ) is -2.909 at $19.99, with 1,625,383 shares traded. As reported by Zacks, the current mean recommendation for HOLX is in the "buy range".
Alcoa Inc. ( AA ) is unchanged at $9.03, with 1,589,188 shares traded. AA's current last sale is 107.82% of the target price of $8.375.
Altria Group ( MO ) is unchanged at $37.45, with 1,400,000 shares traded. Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Jun 2014. The consensus EPS forecast is $0.66. MO's current last sale is 98.55% of the target price of $38.
Vodafone Group Plc ( VOD ) is +0.18 at $36.47, with 971,290 shares traded. VOD's current last sale is 103.46% of the target price of $35.25.
CenturyLink, Inc. ( CTL ) is unchanged at $31.51, with 850,000 shares traded. As reported in the last short interest update the days to cover for CTL is 10.048026; this calculation is based on the average trading volume of the stock.
Vanda Pharmaceuticals Inc. ( VNDA ) is +6.112 at $12.90, with 808,406 shares traded. As reported by Zacks, the current mean recommendation for VNDA is in the "strong buy range".
Walt Disney Company (The) ( DIS ) is unchanged at $68.34, with 700,900 shares traded. Over the last four weeks they have had 4 up revisions for the earnings forecast, for the fiscal quarter ending Dec 2013. The consensus EPS forecast is $0.89. As reported by Zacks, the current mean recommendation for DIS is in the "buy range".
Micron Technology, Inc. ( MU ) is -0.01 at $18.26, with 651,324 shares traded. MU's current last sale is 88% of the target price of $20.75.
Taiwan Semiconductor Manufacturing Company Ltd. ( TSM ) is +0.02 at $17.75, with 600,000 shares traded. As reported by Zacks, the current mean recommendation for TSM is in the "buy range".
Alcatel Lucent ( ALU ) is +0.07 at $4.09, with 547,961 shares traded. ALU's current last sale is 233.71% of the target price of $1.75.
Wynn Resorts, Limited ( WYNN ) is -1.03 at $164.00, with 500,100 shares traded. Over the last four weeks they have had 4 up revisions for the earnings forecast, for the fiscal quarter ending Dec 2013. The consensus EPS forecast is $1.55. As reported by Zacks, the current mean recommendation for WYNN is in the "buy range".
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Alcoa Inc. ( AA ) is unchanged at $9.03, with 1,589,188 shares traded. AA's current last sale is 107.82% of the target price of $8.375. The following are the most active stocks for the pre-market session : Sarepta Therapeutics, Inc. ( SRPT ) is -19.57 at $16.99, with 2,908,165 shares traded.
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Over the last four weeks they have had 4 up revisions for the earnings forecast, for the fiscal quarter ending Dec 2013. Alcoa Inc. ( AA ) is unchanged at $9.03, with 1,589,188 shares traded. AA's current last sale is 107.82% of the target price of $8.375.
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Alcoa Inc. ( AA ) is unchanged at $9.03, with 1,589,188 shares traded. AA's current last sale is 107.82% of the target price of $8.375. RTT News Reports: Sarepta Therapeutics Inc. ( SRPT ) Has Risen To A New High For The Year Hologic, Inc. ( HOLX ) is -2.909 at $19.99, with 1,625,383 shares traded.
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Alcoa Inc. ( AA ) is unchanged at $9.03, with 1,589,188 shares traded. AA's current last sale is 107.82% of the target price of $8.375. MU's current last sale is 88% of the target price of $20.75.
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1255.0
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2013-11-11 00:00:00 UTC
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Retail giant Walmart can still provide good value
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https://www.nasdaq.com/articles/retail-giant-walmart-can-still-provide-good-value-2013-11-11
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Retail giant Walmart can still provide good value
Bobby Raines 11/11/2013
There are lots of ways to measure the health of the economy. You can measure, employment, unemployment, business spending, consumer credit, consumer spending… You get the idea. Corporate earnings are also frequently considered when people try to determine what kind of shape the economy is in.
Alcoa ( AA ) was once the bellwether at the start of earnings season. Demand for aluminum is a good way to gauge how healthy the economy is how the thinking went. Other people have pointed to lines in specific earnings reports. Dupont's ( DD ) production of titanium dioxide, which is used in sunscreen, paint, and a whole host of other applications has also been considered a good indicator of the health of the economy.
As our economy has shifted from one focused on industrial output to one of services and consumption, those measures have faded as worthwhile things to focus on. Alcoa was recently removed from the Dow Jones Industrial Average, and DuPont is selling its titanium dioxide business.
If I had to pick just one company to try to gauge the health of the economy, I'd probably point to Walmart ( WMT ). As the nation's largest retailer, as well as one of the largest employers, Walmart is probably a better indication of how the average consumer is doing than any other single company.
The big-box retailer is ubiquitous and almost everyone ventures into one at least occasionally. Given the company's status as the nation's largest seller of groceries, Walmart is a pretty regular fixture in the lives of a huge number of shoppers.
So what is the expectation for the retail giant's upcoming earnings? Analysts currently expect $1.13 per share on $116.75 billion in revenue, which compares to $1.08 per share on $113.93 billion in the same quarter of 2012. Those numbers aren't predicting incredible growth, but there is growth there, which is significant for a company of Walmart's size and maturity.
Another sign that should be encouraging for investors is that the company isn't content to stand pat with the strategy that helped it get so large in the first place. Walmart is making a big push to expand its online sales. The company is also experimenting with smaller stores, which should help it open more locations closer to consumers, similar to the strategy that has been successful for Dollar General ( DG ) recently.
The stock has struggled recently as the company missed earnings estimates in two of the last four quarters, but the company (and the analysts who make those estimates) likely have a better handle on sales and earnings this time around.
Chart courtesy of stockcharts.com
The stocks has bounced from near the $72 level each of the last two times it has fallen, so that may be a good point to set up an options trade. The 70/72.50 bull-put credit spread currently yields a credit of about 23 cents, which is a 10.13% return, or 54.39% on an annualized basis. Traders with this position get a full profit so long as the stock closes above $72.50 at January expiration.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Originally published on InvestorsObserver.com
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Alcoa ( AA ) was once the bellwether at the start of earnings season. Dupont's ( DD ) production of titanium dioxide, which is used in sunscreen, paint, and a whole host of other applications has also been considered a good indicator of the health of the economy. Given the company's status as the nation's largest seller of groceries, Walmart is a pretty regular fixture in the lives of a huge number of shoppers.
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Alcoa ( AA ) was once the bellwether at the start of earnings season. You can measure, employment, unemployment, business spending, consumer credit, consumer spending… You get the idea. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Alcoa ( AA ) was once the bellwether at the start of earnings season. Retail giant Walmart can still provide good value Bobby Raines 11/11/2013 There are lots of ways to measure the health of the economy. As the nation's largest retailer, as well as one of the largest employers, Walmart is probably a better indication of how the average consumer is doing than any other single company.
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Alcoa ( AA ) was once the bellwether at the start of earnings season. You can measure, employment, unemployment, business spending, consumer credit, consumer spending… You get the idea. So what is the expectation for the retail giant's upcoming earnings?
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1256.0
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2013-11-11 00:00:00 UTC
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Precision Castparts Proves Mettle In Planes And Power
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https://www.nasdaq.com/articles/precision-castparts-proves-mettle-planes-and-power-2013-11-11
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Industrial economies require lots of mixing, bending and shaping of metals. That's the expertise of Precision Castparts ( PCP ).
With its nickel, titanium and steel alloys shaped to make critical components for aircraft, industrial gas turbines and energy sector equipment, Precision Castparts is now sharing in the success of its behemoth customers.
Most rewarding is the current cycle of commercial aircraft construction. Precision Castparts makes components for major aircraft engine makersGeneral Electric ( GE ), Rolls-Royce and Pratt & Whitney, a unit ofUnited Technologies ( UTX ). These are the engine builders for Airbus andBoeing ( BA ), both sitting on huge order backlogs as they develop and ramp up major new platforms.
$11 Million In Parts Per Plane
After some early problems and delays, Boeing is hiking production of its wide-body 787 Dreamliner. Every 787 has $10.5 million to $11 million worth of Precision Castparts components, estimates KeyBanc analyst Michael Ciarmoli. Boeing will be rolling out 10 new 787s a month by the end of the year, up from the recent rate of seven.
And when Airbus rolls out its new A350, Precision Castparts will contribute roughly $3 million in component value per plane, Ciarmoli says.
Precision Castparts benefits from order backlogs that dictate production of new models. But it is also gaining market share as it increases its engine and airframe presence on new versions of older aircraft.
Precision has been contributing just over $1.5 million in value on the current version of the narrow-body Boeing 737, while on the new, re-engineered version it will contribute nearly $2 million, according to Ciarmoli. Similarly, he expects Precision to grow its presence on the new version of the Airbus A320.
In addition to engine components, Precision is a major supplier of fasteners, which Sterne Agee analyst Peter Arment describes as "exotic screws." Made from nickel, titanium, aluminum and steel alloys, they function in engines, airframes, wheels, brakes and landing gear. As with other aircraft components, Precision looks to create metal alloys that cut weight while meeting exacting temperature and reliability demands.
Precision faces a wide array of competitors across its business lines. These notably include units ofAlcoa ( AA ) andAllegheny Technologies (ATI).
"It's a very competitive market," noted Morningstar analyst Neal Dihora.
But as an incumbent on so many engine and airframe designs, Precision has an advantage over new challengers. "Since it takes so long to get qualified on platforms, once you get qualified the customer is loath to switch," Dihora said.
The combination of incumbency and market-share gains during an upswing of the cyclical commercial aerospace business is a potent formula.
In its fiscal second quarter of 2014, reported in late October, Precision Castparts announced revenue of $2.36 billion, up 23% from a year earlier. Earnings per share grew 28% from a year ago to $2.90.
The company's EPS growth has accelerated for four quarters and achieved double-digit percentages for the last 13.
Precision is the third-largest company by market capitalization in IBD's Aerospace & Defense industry group, after Boeing andLockheed Martin (LMT). The group is ranked No. 28 in performance of the 197 that IBD tracks.
Much of the revenue and earnings growth in the second quarter reflects new contributions from recent acquisitions. CEO Mark Donegan told analysts on Oct. 24 that organic growth was roughly 6%.
That growth should accelerate, some analysts contend.
"We expect the aerospace cycle to continue to ramp until at least 2017," said Sterne Agee's Arment. "That visibility, plus the ability to grow market share, will enable annual double-digit bottom line growth over the next four years."
Analyst consensus calls for 23% EPS growth in 2014, up from the 16% gain logged in 2013.
Apart from aerospace -- which represents roughly two-thirds of sales -- Precision serves a couple of markets that could provide added kickers.
One promising sector is in piping used in newer forms of oil and gas exploration.
"Because the drillers are going deeper and pulling out more corrosive material, the carbon-based pipe infrastructure is vulnerable," Arment said.
Precision's piping, based on advanced alloys of nickel and titanium, "can handle the high pressure and corrosion better than the traditional pipes."
Precision also sells castings to industrial gas turbine makers, notably GE andSiemens (SI).
Demand for these turbines, used in electricity generation, has been largely flat. Electric utilities have not been rushing of late to build new generating plants.
"New plant construction in the U.S. hasn't been that robust," Dihora said.
'Higher Utilization'
Slowed growth in energy consumption, along with increased utility efficiencies, have reduced the need for new plants. Instead, utilities have run existing turbine-based generating facilities at "higher utilization rates," Arment noted.
This has generated demand for the sort of spare parts that Precision sells. Eventually, though, demand for new facilities could start growing again, which would stand to revive turbine sales for Precision.
Not surprisingly for a giant processor of exotic metals, Precision has environmental issues. The company has been named a Potentially Responsible Party (PRP) at a variety of locations, including six Superfund sites. As of March 31, the company had accrued $294.4 million in reserves to protect against environmental liabilities.
In August, the Toxic 100 study by the Political Economy Research Institute of the University of Massachusetts, Amherst, named Precision Castparts the leading U.S. air polluter among large corporations. In response, Precision issued a press release that disputed the UMass-Amherst study for assigning "false high toxicity levels" to metals emissions from Precision facilities. The study also failed to "reflect the commitment of Precision Castparts to environmental compliance," according to the release.
But even Precision acknowledges ongoing environmental risk. In its most recent annual report, Precision allows that it is "likely that we will be required to make additional expenditures, which could be significant, relating to environmental matters on an ongoing basis."
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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These notably include units ofAlcoa ( AA ) andAllegheny Technologies (ATI). With its nickel, titanium and steel alloys shaped to make critical components for aircraft, industrial gas turbines and energy sector equipment, Precision Castparts is now sharing in the success of its behemoth customers. Precision Castparts makes components for major aircraft engine makersGeneral Electric ( GE ), Rolls-Royce and Pratt & Whitney, a unit ofUnited Technologies ( UTX ).
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These notably include units ofAlcoa ( AA ) andAllegheny Technologies (ATI). With its nickel, titanium and steel alloys shaped to make critical components for aircraft, industrial gas turbines and energy sector equipment, Precision Castparts is now sharing in the success of its behemoth customers. Precision Castparts makes components for major aircraft engine makersGeneral Electric ( GE ), Rolls-Royce and Pratt & Whitney, a unit ofUnited Technologies ( UTX ).
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These notably include units ofAlcoa ( AA ) andAllegheny Technologies (ATI). With its nickel, titanium and steel alloys shaped to make critical components for aircraft, industrial gas turbines and energy sector equipment, Precision Castparts is now sharing in the success of its behemoth customers. Every 787 has $10.5 million to $11 million worth of Precision Castparts components, estimates KeyBanc analyst Michael Ciarmoli.
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These notably include units ofAlcoa ( AA ) andAllegheny Technologies (ATI). With its nickel, titanium and steel alloys shaped to make critical components for aircraft, industrial gas turbines and energy sector equipment, Precision Castparts is now sharing in the success of its behemoth customers. But it is also gaining market share as it increases its engine and airframe presence on new versions of older aircraft.
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1257.0
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2013-11-09 00:00:00 UTC
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Gurus and Insiders on Alcoa, CTL and WPX
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https://www.nasdaq.com/articles/gurus-and-insiders-alcoa-ctl-and-wpx-2013-11-09
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Here are the third quarter updates for Alcoa Inc. ( AA ), WPX Energy ( WPX ) and CenturyLink Inc. ( CTL ), all near the bottom of the S&P500, all with active insiders and all broadly held by billionaire investors.
Alcoa Inc. is up 1% year to date. Yesterday in Cleveland, Alcoa's CEO Klaus Kleinfeld dispelled worries that aluminum is unavailable, calling the claim "a total myth," according to Bloomberg. Down 22% year to date, CenturyLink Inc. reported adding 33,000 broadband customers and almost 17,000 Prism TV customers in third quarter. WPX Energy ( WPX ) is up 23% since January but reported a net loss of $212 million over the first nine months of 2013.
Alcoa Inc. ( AA )
Up 7% over 12 months, Alcoa Inc., the global aluminum company, has a market cap of 9.69 billion; its shares were traded at around $9.05. The P/E is 35.00. The dividend yield is 1.30%.
Company Financial Results: For the third quarter of 2013, Alcoa Inc. reported revenue of $5.8 billion, in spite of lower aluminum prices. Net income was $24 million for the quarter, translating to $0.02 per share. In the same quarter of 2012, the company had a net loss of ($119 million). At the end of third quarter, Alcoa's balance sheet shows $1 billion in cash.
Check out the full GuruFocus analysis of AA , showing four warning signs.
Historical share pricing, revenue and net income:
Guru Action: As of Sept.30, 2013, Manning & Napier Advisors Inc. was by far the largest guru stakeholder with 51,057,234 shares or 4.77% of shares outstanding. The firm increased its position by 2.53%, buying 1,258,842 shares at an average price of $8.05 per share, for a gain of 12.4% in the third quarter.
Manning & Napier Advisors had a loss of 1% on 55,328,717 shares bought at an average price of $9.14 per share. The firm averaged a 5% gain selling 4,271,483 shares at an average price of $8.65 per share.
Check out more guru stakeholders, along with very active insider trading of AA .
CenturyLink Inc. ( CTL )
Down 19% over 12 months, CenturyLink Inc., a Louisiana-based telecommunications company, has a market cap of $18.82 billion; its shares were traded at around $31.33. The P/E ratio is 18.20. The dividend yield is 7.50%.
Company Financial Results : For the third quarter of 2013, the company reported revenue of $4.52 billion and adjusted net income of $375 million, with adjusted earnings per diluted share of $0.63. CenturyLink reported a net loss of $1.05 billion (GAAP), translating to a $1.76 loss per share.
Historical share pricing, revenue and net income:
Guru Action: As of Sept. 30, 2013, Brian Rogers held 4,136,179 shares or 0.69% of shares outstanding. In the third quarter he took of loss of 8% on his holding of 4,136,179 shares at an average price of $34.04.
Overall in his trading history of six losing quarters, Brian Rogers averaged a loss of 21% on 4,986,179 shares bought at an average price of $39.98 per share. He also averaged a loss of 15% selling 850,000 shares at an average price of $36.95 per share.
Check out the other guru stakeholders and the recent insider trading of CTL.
WPX Energy ( WPX )
Up 23% over 12 months, WPX Energy, an oil and gas E&P company, has a market cap of $3.75 billion; its shares were traded at around $18.68. The P/B ratio is 0.70. The company does not pay a dividend.
Company Financial Results: For the third quarter of 2013, WPX Energy reported an unaudited net loss of $114 million, compared to a net loss of $66 million in the same quarter of 2012. For the third quarter of 2013, the net loss equated to a loss of $0.57 per share. For the first nine months of 2013, the company reported an unaudited net loss of $212 million, compared to a net loss of $140 million in the same period of 2012.
Historical share pricing, revenue and net income:
Guru Action: In September and October insider selling at WPX has been very active. Four gurus made new buys in the second quarter of 2013.
As of June 30, 2013, Donald Smith was the top guru stakeholder with 9,660,214 shares or 4.82% of shares outstanding. He increased his position by 11.97% in the second quarter, buying 1,032,971 shares at the average price of $17.86, for a gain of 4.6%. In six quarters, all gaining, he averaged a gain of 13% buying 9,660,214 shares at an average price of $16.59 per share.
Check out more guru stakeholders and very active insider trading at WPX.
Try aGuruFocus Global Premium Membershipto access more markets around the world. About GuruFocus: GuruFocus.com tracks the stocks picks and portfolio holdings of the world's best investors. This value investing site offers stock screeners and valuation tools. And publishes daily articles tracking the latest moves of the world's best investors. GuruFocus also provides promising stock ideas in 3 monthly newsletters sent to Premium Members .
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Here are the third quarter updates for Alcoa Inc. ( AA ), WPX Energy ( WPX ) and CenturyLink Inc. ( CTL ), all near the bottom of the S&P500, all with active insiders and all broadly held by billionaire investors. Alcoa Inc. ( AA ) Up 7% over 12 months, Alcoa Inc., the global aluminum company, has a market cap of 9.69 billion; its shares were traded at around $9.05. Check out the full GuruFocus analysis of AA , showing four warning signs.
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Here are the third quarter updates for Alcoa Inc. ( AA ), WPX Energy ( WPX ) and CenturyLink Inc. ( CTL ), all near the bottom of the S&P500, all with active insiders and all broadly held by billionaire investors. Alcoa Inc. ( AA ) Up 7% over 12 months, Alcoa Inc., the global aluminum company, has a market cap of 9.69 billion; its shares were traded at around $9.05. Check out the full GuruFocus analysis of AA , showing four warning signs.
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Here are the third quarter updates for Alcoa Inc. ( AA ), WPX Energy ( WPX ) and CenturyLink Inc. ( CTL ), all near the bottom of the S&P500, all with active insiders and all broadly held by billionaire investors. Alcoa Inc. ( AA ) Up 7% over 12 months, Alcoa Inc., the global aluminum company, has a market cap of 9.69 billion; its shares were traded at around $9.05. Check out the full GuruFocus analysis of AA , showing four warning signs.
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Alcoa Inc. ( AA ) Up 7% over 12 months, Alcoa Inc., the global aluminum company, has a market cap of 9.69 billion; its shares were traded at around $9.05. CenturyLink reported a net loss of $1.05 billion (GAAP), translating to a $1.76 loss per share. Here are the third quarter updates for Alcoa Inc. ( AA ), WPX Energy ( WPX ) and CenturyLink Inc. ( CTL ), all near the bottom of the S&P500, all with active insiders and all broadly held by billionaire investors.
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1258.0
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2013-11-07 00:00:00 UTC
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Q3 Earnings: Commodity Stock Hits and Misses
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AA
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https://www.nasdaq.com/articles/q3-earnings-commodity-stock-hits-and-misses-2013-11-07
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nan
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nan
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2013′s third quarter earnings season was perhaps not what many analysts had expected, as companies across all sectors reported both hits and misses. In the commodity space, Alcoa ( AA ) had set the tone for the start of the season, beating earnings and revenue estimates and posting a profit of $24 million. And while other commodity stocks also managed to post better-than-expected results, some showed signs of weakness from this year's commodity slump.
With the majority of companies already done reporting their third quarter results, we take a close look at how well (or how poorly) the commodity producer industry did:
Beating Analyst Expectations Earnings
Nucor Corp ( NUE ): This steelmaker reported a 34% increase in quarterly profits and an EPS of $0.46, easily beating analysts estimates of a $0.39 EPS. Sales for the company increased to $4.94 billion, up from $4.80 billion recorded a year prior.
Peabody Energy Corp ( BTU ): This coal miner posted a net third quarter loss of $26.1 million. Despite the loss, the company still managed to beat analyst estimates with an EPS of $0.05 and revenues of $1.8 billion.
Schlumberger Ltd . ( SLB ): This oil giant topped both earnings and revenue estimates, with EPS coming in at $1.29 and revenues at $11.61 billion.
Halliburton ( HAL ): This oil and gas reported an EPS of $0.83 for the quarter, slightly above the the $0.82 expectation. Revenues came in at $7.5 billion, in line with analyst estimates.
Whiting Petroleum Corp (WLL): This Denver-based company beat both earnings and revenue estimates, posting an EPS of $1.28 and revenues of $831 million.
Weyerhaeuser Co (WY): This bellwether timber firm reported earnings of $0.27 per share, above estimates of $0.21. Revenues also beat estimates of $2.09 billion, coming in at $2.181 billion.
Valero Energy (VLO): This oil refiner reported earnings of $0.96 per share, above analysts' $0.94 forecast. Total revenues came in at $34.0 billion, beating estimates of $30.2 billion.
ConocoPhillips (COP): This oil giant posted an EPS of $1.47, beating analyst estimates of $1.45. Unadjusted earnings were reported at $2.48 billion, a $600 million increase from last year's recording.
Exxon Mobil (XOM): This oil giant beat earnings estimates, posting second quarter EPS of $1.79 versus estimates of $1.77. Revenues came in at $112.4 billion, beating expectations of $107.4 billion.
Mixed Results
Kinder Morgan Inc. (KMI): Another MLP, Kinder Morgan posted earnings of $0.27 per share; analysts had estimated EPS at $0.31. Revenues, however, were reported at $3.7 billion, in line with estimates.
British Petroleum (BP): This oil and gas giant reported earnings of $0.86 per share, lower than analyst estimates of $1.17. Revenues, however, came in at $94.7 billion, versus the consensus estimate of $90.3 billion.
Occidental Petroleum (OXY): This company reported earnings of $1.58 per share, below estimates of $1.61. Revenues managed to beat expectations, coming in at $6.0 billion.
Enbridge Energy Partners (EEP): This MLP missed EPS estimates of $0.22, reporting earnings of $0.13 per share. Revenues were reported at $1.7 billion, in line with expectations.
Marathon Petroleum Corp (MPC): This oil company reported EPS of $0.59, 2 cents lower than analyst estimates. Revenues, however, came in at $26.27 billion, above the $21.37 billion estimates.
CME Group (CME): CME reported EPS of $0.751, slightly above estimates of $0.75. Revenues came in at $715 million, well below the consensus estimate of $723.43 million.
Missing the Mark
El Paso Pipeline Partners (EPB): This MLP missed both earnings and revenue estimates. EPS came in at $0.40, versus the estimated $0.48. Meanwhile, revenues were reported at $369 million, well below the estimated $384 million.
Southern Copper (SCCO): This copper miner reported earnings of $0.41 per share, missing analyst expectations by 1 cent. Revenues were reported at $1.4 billion, slightly below estimates.
Dow Chemical (DOW): The basic materials firm reported earnings of $0.50 per share, 4 cents below consensus estimates. Revenues came in at $13.73 billion, versus the expected $14 billion.
Phillips 66 (PSX): This energy company recorded third quarter profits declining 67% year-over-year and earnings of $1.50 per share. Analysts were expecting earnings to come in at $1.83 per share.
Chevron Corporation (CVX): This oil company reported earnings of $2.57 per share, lower than consensus estimates of $2.71. Revenues were reported at $58.5 billion.
Follow us on Twitter @CommodityHQ
Editor's note: This article by Daniela Pylypczak was originally published on Commodity HQ .
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In the commodity space, Alcoa ( AA ) had set the tone for the start of the season, beating earnings and revenue estimates and posting a profit of $24 million. With the majority of companies already done reporting their third quarter results, we take a close look at how well (or how poorly) the commodity producer industry did: Beating Analyst Expectations Earnings Nucor Corp ( NUE ): This steelmaker reported a 34% increase in quarterly profits and an EPS of $0.46, easily beating analysts estimates of a $0.39 EPS. British Petroleum (BP): This oil and gas giant reported earnings of $0.86 per share, lower than analyst estimates of $1.17.
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In the commodity space, Alcoa ( AA ) had set the tone for the start of the season, beating earnings and revenue estimates and posting a profit of $24 million. With the majority of companies already done reporting their third quarter results, we take a close look at how well (or how poorly) the commodity producer industry did: Beating Analyst Expectations Earnings Nucor Corp ( NUE ): This steelmaker reported a 34% increase in quarterly profits and an EPS of $0.46, easily beating analysts estimates of a $0.39 EPS. Exxon Mobil (XOM): This oil giant beat earnings estimates, posting second quarter EPS of $1.79 versus estimates of $1.77.
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In the commodity space, Alcoa ( AA ) had set the tone for the start of the season, beating earnings and revenue estimates and posting a profit of $24 million. With the majority of companies already done reporting their third quarter results, we take a close look at how well (or how poorly) the commodity producer industry did: Beating Analyst Expectations Earnings Nucor Corp ( NUE ): This steelmaker reported a 34% increase in quarterly profits and an EPS of $0.46, easily beating analysts estimates of a $0.39 EPS. ( SLB ): This oil giant topped both earnings and revenue estimates, with EPS coming in at $1.29 and revenues at $11.61 billion.
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In the commodity space, Alcoa ( AA ) had set the tone for the start of the season, beating earnings and revenue estimates and posting a profit of $24 million. With the majority of companies already done reporting their third quarter results, we take a close look at how well (or how poorly) the commodity producer industry did: Beating Analyst Expectations Earnings Nucor Corp ( NUE ): This steelmaker reported a 34% increase in quarterly profits and an EPS of $0.46, easily beating analysts estimates of a $0.39 EPS. Despite the loss, the company still managed to beat analyst estimates with an EPS of $0.05 and revenues of $1.8 billion.
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1259.0
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2013-11-06 00:00:00 UTC
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After Hours Most Active for Nov 6, 2013 : QCOM, AEO, BAC, WFM, CSCO, TSM, MSFT, QQQ, SCTY, T, AA, IAG
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AA
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https://www.nasdaq.com/articles/after-hours-most-active-nov-6-2013-qcom-aeo-bac-wfm-csco-tsm-msft-qqq-scty-t-aa-iag-2013
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nan
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nan
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The NASDAQ 100 After Hours Indicator is down -10.4 to 3,374.98. The total After hours volume is currently 22,123,816 shares traded.
The following are the most active stocks for the after hours session :
QUALCOMM Incorporated ( QCOM ) is -3.04 at $66.70, with 1,791,022 shares traded. RTT News Reports: Qualcomm Q4 Profit Up - Quick Facts
American Eagle Outfitters, Inc. ( AEO ) is +1.85 at $16.50, with 1,259,055 shares traded. AEO's current last sale is 110% of the target price of $15.
Bank of America Corporation ( BAC ) is -0.03 at $13.93, with 1,154,308 shares traded. Over the last four weeks they have had 4 up revisions for the earnings forecast, for the fiscal quarter ending Dec 2013. The consensus EPS forecast is $0.27. BAC's current last sale is 92.87% of the target price of $15.
Whole Foods Market, Inc. ( WFM ) is -5.27 at $59.20, with 1,068,402 shares traded. RTT News Reports: Whole Foods Market Q4 13 Earnings Conference Call At 5:00 PM ET
Cisco Systems, Inc. ( CSCO ) is -0.01 at $23.27, with 1,025,718 shares traded.CSCO is scheduled to provide an earnings report on 11/13/2013, for the fiscal quarter ending Oct2013. The consensus earnings per share forecast is 0.47 per share, which represents a 44 percent increase over the EPS one Year Ago
Taiwan Semiconductor Manufacturing Company Ltd. ( TSM ) is -0.0037 at $18.27, with 737,921 shares traded. As reported by Zacks, the current mean recommendation for TSM is in the "buy range".
Microsoft Corporation ( MSFT ) is -0.5177 at $37.66, with 677,379 shares traded. Over the last four weeks they have had 7 up revisions for the earnings forecast, for the fiscal quarter ending Sep 2014. The consensus EPS forecast is $0.65. , following a 52-week high recorded in today's regular session.
PowerShares QQQ Trust, Series 1 ( QQQ ) is -0.15 at $82.85, with 624,108 shares traded. This represents a 35.13% increase from its 52 Week Low.
SolarCity Corporation ( SCTY ) is -0.41 at $59.24, with 609,542 shares traded. RTT News Reports: SolarCity Q3 13 Earnings Conference Call At 5:00 PM ET
AT&T Inc. ( T ) is +0.02 at $35.84, with 600,348 shares traded. Over the last four weeks they have had 5 up revisions for the earnings forecast, for the fiscal quarter ending Dec 2013. The consensus EPS forecast is $0.5. T's current last sale is 94.32% of the target price of $38.
Alcoa Inc. ( AA ) is unchanged at $9.66, with 551,798 shares traded. Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Mar 2014. The consensus EPS forecast is $0.05. AA's current last sale is 115.34% of the target price of $8.375.
Iamgold Corporation ( IAG ) is -0.02 at $4.87, with 491,600 shares traded. IAG's current last sale is 69.57% of the target price of $7.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Alcoa Inc. ( AA ) is unchanged at $9.66, with 551,798 shares traded. AA's current last sale is 115.34% of the target price of $8.375. The following are the most active stocks for the after hours session : QUALCOMM Incorporated ( QCOM ) is -3.04 at $66.70, with 1,791,022 shares traded.
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Alcoa Inc. ( AA ) is unchanged at $9.66, with 551,798 shares traded. AA's current last sale is 115.34% of the target price of $8.375. Over the last four weeks they have had 4 up revisions for the earnings forecast, for the fiscal quarter ending Dec 2013.
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Alcoa Inc. ( AA ) is unchanged at $9.66, with 551,798 shares traded. AA's current last sale is 115.34% of the target price of $8.375. RTT News Reports: Whole Foods Market Q4 13 Earnings Conference Call At 5:00 PM ET Cisco Systems, Inc. ( CSCO ) is -0.01 at $23.27, with 1,025,718 shares traded.CSCO is scheduled to provide an earnings report on 11/13/2013, for the fiscal quarter ending Oct2013.
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Alcoa Inc. ( AA ) is unchanged at $9.66, with 551,798 shares traded. AA's current last sale is 115.34% of the target price of $8.375. The NASDAQ 100 After Hours Indicator is down -10.4 to 3,374.98.
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1260.0
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2013-11-05 00:00:00 UTC
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#PreMarket Primer: Tuesday, November 5: Fed Speakers Calm Taper Nerves
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AA
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https://www.nasdaq.com/articles/premarket-primer-tuesday-november-5-fed-speakers-calm-taper-nerves-2013-11-05
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nan
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nan
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Several US central bankers spoke late on Monday about the US Federal Reserve's taper plans.
The speakers, which included the Boston Fed's Eric Rosengren, St. Louis Fed President James Bullard and Fed Board Governor Jerome Powell, all reiterated that the bank's stimulus program will continue until data indicates that the US can stand on its own and unemployment has fallen.
Top News
In other news around the markets:
As investor demand picked up ahead of Twitter's highly anticipated IPO, the company decided to raise the higher end of its price range by 25 percent, making the shares $23 to $25 per share. Reuters reported that final pricing could increase further due to the strong demand among institutional investors. BlackBerry shares plummeted on Monday afternoon following an announcement that the company was no longer up for sale and that its CEO was stepping down. Instead, Blackberry is planning to issue convertible notes to long term investors in order to raise $1 billion. In what many are considering to be a historic settlement, SAC Capital Advisors LP agreed to pay $1.8 billion and plead guilty to an insider trading indictment. The settlement marks the largest ever financial penalty for an insider trading offense. The US and the EU are planning to move forward with free trade negotiations over the next two months despite rising tension over US NSA spying revelations. If followed through, a pact between the two sides could help both regions boost economic growth by cutting tariffs and creating common regulations, all of which would lower the cost of doing international business.
Asian Markets
Asian markets were mixed this morning, the Japanese NIKKEI was up 0.17 percent, China's Shanghai composite was up 0.35 percent and the Shenzhen composite gained 0.95 percent. However the Hang Seng index fell 0.65 percent and Indonesia's JSX composite was down 0.21 percent.
European Markets
European markets were down across the board, the UK's FTSE lost 0.62 percent and the eurozone's STOXX 600 lost 0.30 percent. The German DAX lost 0.40 percent and France's CAC 40 was down by 0.43 percent.
Commodities
Energy futures were quiet with Brent futures up 0.03 percent and WTI futures down 0.18 percent. Precious metals were also down with gold falling 0.24 percent and silver down 0.23 percent. Industrial metals followed suit with aluminum posting the largest loss, down 1.14 percent.
Currencies
The euro continued to lose ground against the dollar ahead of the ECB meeting, down 0.14 percent. The pound gained 0.55 percent against the dollar and the yen gained 0.32 percent against the greenback
Earnings
Notable earnings released on Monday included:
Plains All American Pipeline, L.P. (NYSE: PAA ) reported third quarter EPS of $0.53 on revenue of $10.70 billion, compared to last year's EPS of $0.73 per share on revenue of $9.35 billion. Hill International, Inc. (NYSE: HIL ) reported EPS of $0.06 on revenue of $142.00 million, compared to last year's EPS of $0.03 on revenue of $103.56 million. CME Group Inc. (NASDAQ: CME ) reported third quarter EPS of $0.75 on revenue of $714.60 million, compared to last year's EPS of $0.70 on revenue of $683.20 million. Kellogg Company (NYSE: K ) reported third quarter EPS of $0.95 on revenue of $3.72 billion, compared to last year's EPS of $0.82 on revenue of $3.72 billion.
Pre-Market Movers
Stocks moving in the Premarket included:
Johnson & Johnson (NYSE: JNJ ) gained 0.18 percent in premarket trade after a week of choppy trading. General Motors Co. (NYSE: GM ) lost 1.25 percent in premarket trade following a 4.66 percent rise over the past week. Alcoa Inc. (NYSE: AA ) lost 1.01 percent in premarket trade after jumping 7.01 percent on Monday. Exxon Mobil Corp (NYSE: XOM ) lost 0.21 percent in premarket trade after climbing 4.39 percent over the past week.
Earnings reports expected on Tuesday include:
Tesla Motors, Inc. (NASDAQ: TSLA ) is expected to report EPS of $0.11 on revenue of $50.10 million, compared to last year's loss of $0.92 per share on revenue of $535.41 million. Health Net Inc. (NYSE: HNT ) is expected to report EPS of $0.60 on revenue of $2.72 billion, compared to last year's EPS of $0.38 on revenue of $2.78 billion. DIRECTV (NASDAQ: DTV ) is expected to report third quarter EPS of $1.03 on revenue of $7.85 billion, compared to last year's EPS of $0.90 on revenue of $7.42 billion. Sandridge Energy Inc. (NYSE: SD ) is expected to report third quarter EPS of $0.00 on revenue of $448.62 million, compared to last year's EPS of $0.05 on revenue of $532.80 million.
Economics
More PMI data will be out on Tuesday including British and Indian services PMI. Other notable releases include the US ISM non-manufacturing index, Canada's trade balance and eurozone PPI.
For a recap of Monday's market action, click .
Tune into Benzinga's pre-market info show with Dennis Dick and Joel Elconin here .
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The pound gained 0.55 percent against the dollar and the yen gained 0.32 percent against the greenback Earnings Notable earnings released on Monday included: Plains All American Pipeline, L.P. (NYSE: PAA ) reported third quarter EPS of $0.53 on revenue of $10.70 billion, compared to last year's EPS of $0.73 per share on revenue of $9.35 billion. Alcoa Inc. (NYSE: AA ) lost 1.01 percent in premarket trade after jumping 7.01 percent on Monday. In what many are considering to be a historic settlement, SAC Capital Advisors LP agreed to pay $1.8 billion and plead guilty to an insider trading indictment.
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The pound gained 0.55 percent against the dollar and the yen gained 0.32 percent against the greenback Earnings Notable earnings released on Monday included: Plains All American Pipeline, L.P. (NYSE: PAA ) reported third quarter EPS of $0.53 on revenue of $10.70 billion, compared to last year's EPS of $0.73 per share on revenue of $9.35 billion. Alcoa Inc. (NYSE: AA ) lost 1.01 percent in premarket trade after jumping 7.01 percent on Monday. CME Group Inc. (NASDAQ: CME ) reported third quarter EPS of $0.75 on revenue of $714.60 million, compared to last year's EPS of $0.70 on revenue of $683.20 million.
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The pound gained 0.55 percent against the dollar and the yen gained 0.32 percent against the greenback Earnings Notable earnings released on Monday included: Plains All American Pipeline, L.P. (NYSE: PAA ) reported third quarter EPS of $0.53 on revenue of $10.70 billion, compared to last year's EPS of $0.73 per share on revenue of $9.35 billion. Alcoa Inc. (NYSE: AA ) lost 1.01 percent in premarket trade after jumping 7.01 percent on Monday. Asian Markets Asian markets were mixed this morning, the Japanese NIKKEI was up 0.17 percent, China's Shanghai composite was up 0.35 percent and the Shenzhen composite gained 0.95 percent.
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The pound gained 0.55 percent against the dollar and the yen gained 0.32 percent against the greenback Earnings Notable earnings released on Monday included: Plains All American Pipeline, L.P. (NYSE: PAA ) reported third quarter EPS of $0.53 on revenue of $10.70 billion, compared to last year's EPS of $0.73 per share on revenue of $9.35 billion. Alcoa Inc. (NYSE: AA ) lost 1.01 percent in premarket trade after jumping 7.01 percent on Monday. Top News In other news around the markets: As investor demand picked up ahead of Twitter's highly anticipated IPO, the company decided to raise the higher end of its price range by 25 percent, making the shares $23 to $25 per share.
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1261.0
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2013-11-05 00:00:00 UTC
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Alcoa Inc. (AA) Ex-Dividend Date Scheduled for November 06, 2013
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AA
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https://www.nasdaq.com/articles/alcoa-inc-aa-ex-dividend-date-scheduled-november-06-2013-2013-11-05
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nan
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nan
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Alcoa Inc. ( AA ) will begin trading ex-dividend on November 06, 2013. A cash dividend payment of $0.03 per share is scheduled to be paid on November 25, 2013. Shareholders who purchased AA stock prior to the ex-dividend date are eligible for the cash dividend payment. This marks the 19th quarter that AA has paid the same dividend. At the current stock price of $9.92, the dividend yield is 1.21%.
The previous trading day's last sale of AA was $9.92, representing a -0.5% decrease from the 52 week high of $9.97 and a 30.01% increase over the 52 week low of $7.63.
AA is a part of the Capital Goods sector, which includes companies such as Precision Castparts Corporation ( PCP ) and National Oilwel Varcol, Inc. ( NOV ). AA's current earnings per share, an indicator of a company's profitability, is $.25. Zacks Investment Research reports AA's forecasted earnings growth in 2013 as 48.81%, compared to an industry average of -5.3%.
For more information on the declaration, record and payment dates, visit the AA Dividend History page. Our Dividend Calendar has the full list of stocks that have an ex-dividend today.
Interested in gaining exposure to AA through an Exchange Traded Fund [ETF]?
The following ETF(s) have AA as a top-10 holding:
SPDR S&P Metals & Mining ETF ( XME )
Guggenheim S&P 500 Equal Weight Materials ETF ( RTM )
First Trust Large Cap Core AlphaDEX ( FEX )
Schwab U.S. Large-Cap Value ETF ( SCHV ).
The top-performing ETF of this group is RTM with an increase of 13.63% over the last 100 days. XME has the highest percent weighting of AA at 3.52%.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Shareholders who purchased AA stock prior to the ex-dividend date are eligible for the cash dividend payment. AA is a part of the Capital Goods sector, which includes companies such as Precision Castparts Corporation ( PCP ) and National Oilwel Varcol, Inc. ( NOV ). Zacks Investment Research reports AA's forecasted earnings growth in 2013 as 48.81%, compared to an industry average of -5.3%.
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AA's current earnings per share, an indicator of a company's profitability, is $.25. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Alcoa Inc. ( AA ) will begin trading ex-dividend on November 06, 2013.
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Shareholders who purchased AA stock prior to the ex-dividend date are eligible for the cash dividend payment. For more information on the declaration, record and payment dates, visit the AA Dividend History page. The following ETF(s) have AA as a top-10 holding: SPDR S&P Metals & Mining ETF ( XME ) Guggenheim S&P 500 Equal Weight Materials ETF ( RTM ) First Trust Large Cap Core AlphaDEX ( FEX ) Schwab U.S. Large-Cap Value ETF ( SCHV ).
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Shareholders who purchased AA stock prior to the ex-dividend date are eligible for the cash dividend payment. The following ETF(s) have AA as a top-10 holding: SPDR S&P Metals & Mining ETF ( XME ) Guggenheim S&P 500 Equal Weight Materials ETF ( RTM ) First Trust Large Cap Core AlphaDEX ( FEX ) Schwab U.S. Large-Cap Value ETF ( SCHV ). Alcoa Inc. ( AA ) will begin trading ex-dividend on November 06, 2013.
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1262.0
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2013-10-30 00:00:00 UTC
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After Hours Most Active for Oct 30, 2013 : FB, PBR/A, BEN, QQQ, EXPE, MCP, BAC, MNKD, CSCO, EXEL, AA, HCA
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AA
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https://www.nasdaq.com/articles/after-hours-most-active-oct-30-2013-fb-pbra-ben-qqq-expe-mcp-bac-mnkd-csco-exel-aa-hca
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nan
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nan
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The NASDAQ 100 After Hours Indicator is up 9.64 to 3,395.02. The total After hours volume is currently 50,454,461 shares traded.
The following are the most active stocks for the after hours session :
Facebook, Inc. ( FB ) is +4.58 at $53.63, with 21,656,085 shares traded. RTT News Reports: Facebook Posts Q3 Profit - Quick Facts
Petroleo Brasileiro S.A.- Petrobras (PBR/A) is -0.0584 at $18.31, with 4,813,100 shares traded. PBR/A's current last sale is 85.17% of the target price of $21.5.
Franklin Resources, Inc. ( BEN ) is +0.2173 at $54.46, with 2,028,694 shares traded. Over the last four weeks they have had 6 up revisions for the earnings forecast, for the fiscal quarter ending Dec 2013. The consensus EPS forecast is $0.9. As reported by Zacks, the current mean recommendation for BEN is in the "buy range".
PowerShares QQQ Trust, Series 1 ( QQQ ) is +0.2 at $83.16, with 1,688,526 shares traded. This represents a 35.64% increase from its 52 Week Low.
Expedia, Inc. ( EXPE ) is +7.44 at $57.40, with 1,641,095 shares traded. RTT News Reports: Expedia Q3 13 Earnings Conference Call At 4:30 PM ET
Molycorp, Inc ( MCP ) is +0.02 at $5.06, with 1,379,640 shares traded. MCP's current last sale is 63.25% of the target price of $8.
Bank of America Corporation ( BAC ) is +0.02 at $14.19, with 934,559 shares traded. Over the last four weeks they have had 4 up revisions for the earnings forecast, for the fiscal quarter ending Dec 2013. The consensus EPS forecast is $0.27. BAC's current last sale is 94.6% of the target price of $15.
MannKind Corporation ( MNKD ) is +0.08 at $5.00, with 902,772 shares traded.MNKD is scheduled to provide an earnings report on 11/4/2013, for the fiscal quarter ending Sep2013. The consensus earnings per share forecast is -0.14 per share, which represents a -22 percent increase over the EPS one Year Ago
Cisco Systems, Inc. ( CSCO ) is -0.02 at $22.69, with 797,881 shares traded. As reported by Zacks, the current mean recommendation for CSCO is in the "buy range".
Exelixis, Inc. ( EXEL ) is unchanged at $5.07, with 771,126 shares traded. RTT News Reports: Exelixis Q3 13 Earnings Conference Call At 5:00 PM ET
Alcoa Inc. ( AA ) is -0.0353 at $9.42, with 694,283 shares traded. Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Sep 2014. The consensus EPS forecast is $0.12. AA's current last sale is 112.53% of the target price of $8.375.
HCA Holdings, Inc. ( HCA ) is -0.1934 at $46.48, with 631,347 shares traded. Over the last four weeks they have had 7 up revisions for the earnings forecast, for the fiscal quarter ending Sep 2013. The consensus EPS forecast is $0.79. As reported by Zacks, the current mean recommendation for HCA is in the "buy range".
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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RTT News Reports: Exelixis Q3 13 Earnings Conference Call At 5:00 PM ET Alcoa Inc. ( AA ) is -0.0353 at $9.42, with 694,283 shares traded. AA's current last sale is 112.53% of the target price of $8.375. RTT News Reports: Facebook Posts Q3 Profit - Quick Facts Petroleo Brasileiro S.A.- Petrobras (PBR/A) is -0.0584 at $18.31, with 4,813,100 shares traded.
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RTT News Reports: Exelixis Q3 13 Earnings Conference Call At 5:00 PM ET Alcoa Inc. ( AA ) is -0.0353 at $9.42, with 694,283 shares traded. AA's current last sale is 112.53% of the target price of $8.375. Over the last four weeks they have had 6 up revisions for the earnings forecast, for the fiscal quarter ending Dec 2013.
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RTT News Reports: Exelixis Q3 13 Earnings Conference Call At 5:00 PM ET Alcoa Inc. ( AA ) is -0.0353 at $9.42, with 694,283 shares traded. AA's current last sale is 112.53% of the target price of $8.375. RTT News Reports: Expedia Q3 13 Earnings Conference Call At 4:30 PM ET Molycorp, Inc ( MCP ) is +0.02 at $5.06, with 1,379,640 shares traded.
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RTT News Reports: Exelixis Q3 13 Earnings Conference Call At 5:00 PM ET Alcoa Inc. ( AA ) is -0.0353 at $9.42, with 694,283 shares traded. AA's current last sale is 112.53% of the target price of $8.375. The NASDAQ 100 After Hours Indicator is up 9.64 to 3,395.02.
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1263.0
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2013-10-29 00:00:00 UTC
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The Dow Committee Again Gets It Wrong
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AA
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https://www.nasdaq.com/articles/dow-committee-again-gets-it-wrong-2013-10-29
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nan
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nan
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In early September it was announced that the Dow Jones Industrial Average (INDEXDJX:.DJI) would swap Bank of America ( BAC ), Alcoa ( AA ), and Hewlett-Packard ( HPQ ) with Nike ( NKE ), Goldman Sachs ( GS ), and Visa (V) under the guise that it was a "desire to diversify the sector and industry group representation of the index."
Is that really so?
The real reason for the Dow Committee's shift is all about increasing the Dow's price, and they are already reaping what they sowed because the Dow's price is lower than it otherwise would be if they didn't change the Index around last month.
The Dow Committee's bad timing is nothing new though.
The Real Reason for the Dow Changes
The Wall Street Journal recently did a study that puts the Dow Committee's track record into numbers.
"Since 1929 through 2005, stocks deleted from the Dow gained an average of 173% over the next five years. New additions gained 65%."
In our October, we took a detailed look at the history of the Dow Committee and noticed a few more interesting facts:
The committee waited to add tech stocks to the Dow until the late '90s (Hewlett-Packard in '97, along with Microsoft (NASDAQGS:MSFT) and Intel (NASDAQGS:INTC) not until '99). It added Pfizer (PFE) just after the biotech bubble of the early 2000s. It also added financial stocks leading up the financial crisis. ( AIG (AIG) in '04 and Bank of America in early '08).
Not exactly the greatest track record the committee has.
How the Change Affects the Dow
On September 23, the day the switch took effect, the Dow would have been higher by approximately $2,088 points if it had included Nike, Goldman Sachs, and Visa since the market lows of March 2009 instead of Bank of America, Alcoa, and Hewlett-Packard.
This means the Dow would be trading at approximately $17,600 today instead of $15,500, but that's only if the Committee would have added these companies near the bottom. Now they add them only after an abnormally large rally, five years of age now.
The move will only turn out to be a smart one in hindsight if the markets continue their rally.
But no investment decision comes without risk, and the Dow's committee is risking a continued rise in the Dow price at the expense of an increase risk in volatility to the index.
True Colors
We shouldn't believe the commentary of this being about "diversifying the group" either.
What's the valid reason there are now zero traditional banks since Bank of America was dropped, but for some reason we now have two investment banks in JPMorgan (JPM) and Goldman and over 50% of the credit card industry in Visa and American Express (AXP) in the Dow?
Why not Wells Fargo (WFC) which is significantly larger than Goldman or a handful of other options which make more sense from an economic impact perspective?
Because, none of the fundamentals of the Dow's makeup matters, as the real reason for the switch is all about the optics of getting the Dow's price higher.
The table below is sorted by share price and should show you all there is to know about the reasons for why the Dow Committee dropped the three companies they did. Is there any question as to why the changes were made and also looking at the chart, which companies will likely be next on their "drop" list?
The Dow changes were made strictly due to the low price points of the three ousted components, but how does this show the true motives?
The Dow's Quick Math
As a price weighted index, a one percent move on a higher priced stock such as Visa (1% is around $2.00) affects the Dow's price much more than a 1% move in Alcoa (1% is around $0.09). A 1% move higher in Visa raises the Dow 13 points whereas a 1% move higher in Alcoa raises the Dow less than two points.
Put another way, a 1% increase in Visa moves the Dow 8x more than the same move in Alcoa. Similar ratios exist with the other two additions and subtractions.
The Dow Committee is simply playing games with the Dow to try to make it go higher by jumping on the market's uptrend. It has nothing to do with updating the representation or for fundamental reasons, and as it turns out, the Committee's history shows us they more often than not make changes at the wrong times.
Ways to Trade It
Those who follow the Dow also now must deal with the consequences of a benchmark that has much more volatility now. The Dow point swings work the same way on the way down as they do on the way up.
Since the Dow's change in September, the Dow (NYSEARCA:DIA) was lower by 67 points three weeks later than it otherwise would be if it still had its three old components, so already the component changes are confirming the contrarian signal.
Not only is the Dow more volatile after the September shuffle, it also is underperforming the other major indices setting up a negative divergence. Based on the history of the Dow changes the odds increase that the Dow will continue its underperformance.
Editor's note: This story by Chad Karnes originally appeared on ETFguide.com .
To read more from ETFguide, see:
Beating Low Yields In a Low Rate Environment
Fee Wars: Why Do iShares Sector ETFs Cost So Much?
Are Vix Traders Riding the Wrong Roller Coaster?
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In early September it was announced that the Dow Jones Industrial Average (INDEXDJX:.DJI) would swap Bank of America ( BAC ), Alcoa ( AA ), and Hewlett-Packard ( HPQ ) with Nike ( NKE ), Goldman Sachs ( GS ), and Visa (V) under the guise that it was a "desire to diversify the sector and industry group representation of the index." Why not Wells Fargo (WFC) which is significantly larger than Goldman or a handful of other options which make more sense from an economic impact perspective? The Dow changes were made strictly due to the low price points of the three ousted components, but how does this show the true motives?
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In early September it was announced that the Dow Jones Industrial Average (INDEXDJX:.DJI) would swap Bank of America ( BAC ), Alcoa ( AA ), and Hewlett-Packard ( HPQ ) with Nike ( NKE ), Goldman Sachs ( GS ), and Visa (V) under the guise that it was a "desire to diversify the sector and industry group representation of the index." The Dow's Quick Math As a price weighted index, a one percent move on a higher priced stock such as Visa (1% is around $2.00) affects the Dow's price much more than a 1% move in Alcoa (1% is around $0.09). A 1% move higher in Visa raises the Dow 13 points whereas a 1% move higher in Alcoa raises the Dow less than two points.
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In early September it was announced that the Dow Jones Industrial Average (INDEXDJX:.DJI) would swap Bank of America ( BAC ), Alcoa ( AA ), and Hewlett-Packard ( HPQ ) with Nike ( NKE ), Goldman Sachs ( GS ), and Visa (V) under the guise that it was a "desire to diversify the sector and industry group representation of the index." The real reason for the Dow Committee's shift is all about increasing the Dow's price, and they are already reaping what they sowed because the Dow's price is lower than it otherwise would be if they didn't change the Index around last month. How the Change Affects the Dow On September 23, the day the switch took effect, the Dow would have been higher by approximately $2,088 points if it had included Nike, Goldman Sachs, and Visa since the market lows of March 2009 instead of Bank of America, Alcoa, and Hewlett-Packard.
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In early September it was announced that the Dow Jones Industrial Average (INDEXDJX:.DJI) would swap Bank of America ( BAC ), Alcoa ( AA ), and Hewlett-Packard ( HPQ ) with Nike ( NKE ), Goldman Sachs ( GS ), and Visa (V) under the guise that it was a "desire to diversify the sector and industry group representation of the index." How the Change Affects the Dow On September 23, the day the switch took effect, the Dow would have been higher by approximately $2,088 points if it had included Nike, Goldman Sachs, and Visa since the market lows of March 2009 instead of Bank of America, Alcoa, and Hewlett-Packard. The Dow changes were made strictly due to the low price points of the three ousted components, but how does this show the true motives?
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1264.0
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2013-10-28 00:00:00 UTC
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The Dow Committee again Gets it Wrong
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AA
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https://www.nasdaq.com/articles/dow-committee-again-gets-it-wrong-2013-10-28
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nan
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nan
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In early September it was announced that the Dow Jones Industrial Average would swap Bank of America ( BAC ), Alcoa ( AA ), and Hewlett Packard ( HPQ ) with Nike ( NKE ), Goldman Sachs ( GS ), and Visa (V) under the guise that it was a "desire to diversify the sector and industry group representation of the index".
Is that really so?
The real reason for the Dow Committee's shift is all about increasing the Dow's price and they are already reaping what they sowed because the Dow's price is lower than it otherwise would be if they didn't change the Index around last month.
The Dow Committee's bad timing is nothing new though.
The Real Reason for the Dow Changes
The Wall Street Journal recently did a study that puts the Dow Committee's track record into numbers.
"Since 1929 through 2005, stocks deleted from the Dow gained an average of 173% over the next 5 years. New additions gained 65%."
In our October edition of the ETF Profit Strategy Newsletter we took a detailed look at the history of the Dow Committee and noticed a few more interesting facts:
The committee waited to add tech stocks to the Dow until the late 90's (Hewlett Packard in '97, along with Microsoft (NASDAQGS:MSFT) and Intel (NASDAQGS:INTC) not until '99). It added Pfizer just after the biotech bubble of the early 2000s. It also added financial stocks leading up the financial crisis. (AIG (AIG) in '04 and Bank of America in early '08).
Not exactly the greatest track record the committee has.
How the Change Affects the Dow
On September 23, the day the switch took effect, the Dow would have been higher by approximately $2,088 points if it had included Nike, Goldman Sachs, and Visa since the market lows of March 2009 instead of Bank of America, Alcoa, and Hewlett Packard.
This means the Dow would be trading at approximately $17,600 today instead of $15,500, but that's only if the Committee would have added these companies near the bottom. Now they add them only after an abnormally large rally, five years of age now.
The move will only turn out to be a smart one in hindsight if the markets continue their rally.
But as we outlined in our October ETF Profit Strategy Newsletter, no investment decision comes without risk, and the Dow's committee is risking a continued rise in the Dow price at the expense of an increase risk in volatility to the index.
True Colors
We shouldn't believe the commentary of this being about "diversifying the group" either.
What's the valid reason there are now zero traditional banks since Bank of America was dropped, but for some reason we now have two investment banks in JP Morgan (JPM) and Goldman and over 50% of the credit card industry in Visa and American Express (AXP) in the Dow?
Why not Wells Fargo (WFC) which is significantly larger than Goldman or a handful of other options which make more sense from an economic impact perspective?
Because, none of the fundamentals of the Dow's makeup matters, as the real reason for the switch is all about the optics of getting the Dow's price higher.
The table below is sorted by share price and should show you all there is to know about the reasons for why the Dow Committee dropped the three companies they did. Is there any question as to why the changes were made and also looking at the chart, which companies will likely be next on their "drop" list?
The Dow (NYSEARCA:UDOW) changes were made strictly due to the low price points of the three ousted components, but how does this show the true motives?
The Dow's Quick Math
As a price weighted index, a one percent move on a higher priced stock such as Visa (1% is around $2.00) affects the Dow's price much more than a 1% move in Alcoa (1% is around 9 cents). A 1% move higher in Visa raises the Dow 13 points whereas a 1% move higher in Alcoa raises the Dow less than 2 points.
Put another way, a 1% increase in Visa moves the Dow 8x more than the same move in Alcoa. Similar ratios exist with the other 2 additions and subtractions.
The Dow Committee is simply playing games with the Dow to try to make it go higher by jumping on the market's uptrend. It has nothing to do with updating the representation or for fundamental reasons, and as it turns out, the Committee's history shows us they more often than not make changes at the wrong times.
Ways to Trade It
Those who follow the Dow also now must deal with the consequences of a benchmark that has much more volatility now. The Dow point swings work the same way on the way down as they do on the way up.
Since the Dow's change in September, the Dow (NYSEARCA:DIA) was lower by 67 points three weeks later than it otherwise would be if it still had its three old components, so already the component changes are confirming the contrarian signal.
As outlined in the November ETF Profit Strategy Newsletter published 10/18 not only is the Dow more volatile after the September shuffle, it also is underperforming the other major indices setting up a negative divergence. Based on the history of the Dow changes the odds increase that the Dow will continue its underperformance.
The ETF Profit Strategy Newsletter uses fundamental, technical, sentiment and common sense analysis to keep an honest view of the markets. The Dow Committee again may be sending a key signal not to follow them in their quest to push the Dow higher through component manipulation instead of genuine fundamental reasons.
Follow us on Twitter @ ETFguide
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
In early September it was announced that the Dow Jones Industrial Average would swap Bank of America ( BAC ), Alcoa ( AA ), and Hewlett Packard ( HPQ ) with Nike ( NKE ), Goldman Sachs ( GS ), and Visa (V) under the guise that it was a "desire to diversify the sector and industry group representation of the index". Why not Wells Fargo (WFC) which is significantly larger than Goldman or a handful of other options which make more sense from an economic impact perspective? The Dow (NYSEARCA:UDOW) changes were made strictly due to the low price points of the three ousted components, but how does this show the true motives?
|
In early September it was announced that the Dow Jones Industrial Average would swap Bank of America ( BAC ), Alcoa ( AA ), and Hewlett Packard ( HPQ ) with Nike ( NKE ), Goldman Sachs ( GS ), and Visa (V) under the guise that it was a "desire to diversify the sector and industry group representation of the index". But as we outlined in our October ETF Profit Strategy Newsletter, no investment decision comes without risk, and the Dow's committee is risking a continued rise in the Dow price at the expense of an increase risk in volatility to the index. A 1% move higher in Visa raises the Dow 13 points whereas a 1% move higher in Alcoa raises the Dow less than 2 points.
|
In early September it was announced that the Dow Jones Industrial Average would swap Bank of America ( BAC ), Alcoa ( AA ), and Hewlett Packard ( HPQ ) with Nike ( NKE ), Goldman Sachs ( GS ), and Visa (V) under the guise that it was a "desire to diversify the sector and industry group representation of the index". The real reason for the Dow Committee's shift is all about increasing the Dow's price and they are already reaping what they sowed because the Dow's price is lower than it otherwise would be if they didn't change the Index around last month. In our October edition of the ETF Profit Strategy Newsletter we took a detailed look at the history of the Dow Committee and noticed a few more interesting facts: The committee waited to add tech stocks to the Dow until the late 90's (Hewlett Packard in '97, along with Microsoft (NASDAQGS:MSFT) and Intel (NASDAQGS:INTC) not until '99).
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In early September it was announced that the Dow Jones Industrial Average would swap Bank of America ( BAC ), Alcoa ( AA ), and Hewlett Packard ( HPQ ) with Nike ( NKE ), Goldman Sachs ( GS ), and Visa (V) under the guise that it was a "desire to diversify the sector and industry group representation of the index". How the Change Affects the Dow On September 23, the day the switch took effect, the Dow would have been higher by approximately $2,088 points if it had included Nike, Goldman Sachs, and Visa since the market lows of March 2009 instead of Bank of America, Alcoa, and Hewlett Packard. It has nothing to do with updating the representation or for fundamental reasons, and as it turns out, the Committee's history shows us they more often than not make changes at the wrong times.
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1265.0
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2013-10-23 00:00:00 UTC
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Alcoa, VSMPO-AVISMA to Form Aerospace JV - Analyst Blog
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AA
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https://www.nasdaq.com/articles/alcoa-vsmpo-avisma-to-form-aerospace-jv-analyst-blog-2013-10-23
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nan
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nan
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Aluminum giant Alcoa Inc. ( AA ) announced that it has agreed to form a joint venture with Russia's VSMPO-AVISMA Corporation, a leading maker of titanium ingots and forged products. Both Alcoa and VSMPO-AVISMA signed a cooperation agreement in Moscow to develop high end titanium and aluminum products for the aerospace industry.
The joint venture is expected to be operational in 2016 and once formed, will combine Alcoa's expertise in manufacturing value-added products which utilize VSMPO-AVISMA's expertise in the production of titanium. Finished product manufactures will include high-end aerospace goods such as landing gear and forged wing components at Alcoa's Samara plant.
Through the agreement, Alcoa will be able to increase its competitiveness and position its global aerospace business for continued profitable growth. VSMPO-AVISMA, on the other hand, will get access to unique forging equipment, enabling it to increase output and maintain consistent supply. The company can thereby increase its productivity and presence in the market.
Alcoa estimates that the aerospace market would grow 9%-10% in 2013 and with this joint venture in place both can work on their respective strengths in making the largest and most advanced aerospace forgings in the world.
A few days ago, Alcoa released its third quarter results. The company posted a profit of $24 million or 2 cents per share in the quarter compared with a loss of $143 million or 13 cents per share in the year-ago quarter. The results include restructuring and other one-time charges/gains of $96 million.
Excluding one-time special items, earnings were $120 million or 11 cents a share in the quarter, much ahead of the year-ago earnings of $76 million or 7 cents per share and Zacks Consensus Estimate of 6 cents. Productivity gains, strong demand from auto makers, healthy operating performance and cost cutting supported the results despite lower metal prices.
Revenues dropped roughly 1.2% to $5,765 million from $5,833 million in the year-ago quarter but exceeded the Zacks Consensus Estimate of $5,713 million. The decline was due to weak aluminum prices, offset by strong demand in the aerospace and automotive end markets.
Alcoa reiterated its global aluminum demand growth expectation of 7% for 2013.
Alcoa, a prominent player in the mining industry along with Aluminum Corporation of China Ltd. ( ACH ), Atlatsa Resources Corp. ( ATL ) and BHP Billiton Ltd ( BHP ), is a world leader in production and management of primary aluminum, fabricated aluminum, and alumina. The company is also the world's largest miner of bauxite and refiner of alumina.
Alcoa currently retains a short-term Zacks Rank #3 (Hold).
ALCOA INC (AA): Free Stock Analysis Report
ALUMINUM CP-ADR (ACH): Get Free Report
ATLATSA RESRCS (ATL): Free Stock Analysis Report
BHP BILLITN LTD (BHP): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Aluminum giant Alcoa Inc. ( AA ) announced that it has agreed to form a joint venture with Russia's VSMPO-AVISMA Corporation, a leading maker of titanium ingots and forged products. ALCOA INC (AA): Free Stock Analysis Report ALUMINUM CP-ADR (ACH): Get Free Report ATLATSA RESRCS (ATL): Free Stock Analysis Report BHP BILLITN LTD (BHP): Free Stock Analysis Report To read this article on Zacks.com click here. Finished product manufactures will include high-end aerospace goods such as landing gear and forged wing components at Alcoa's Samara plant.
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ALCOA INC (AA): Free Stock Analysis Report ALUMINUM CP-ADR (ACH): Get Free Report ATLATSA RESRCS (ATL): Free Stock Analysis Report BHP BILLITN LTD (BHP): Free Stock Analysis Report To read this article on Zacks.com click here. Aluminum giant Alcoa Inc. ( AA ) announced that it has agreed to form a joint venture with Russia's VSMPO-AVISMA Corporation, a leading maker of titanium ingots and forged products. The joint venture is expected to be operational in 2016 and once formed, will combine Alcoa's expertise in manufacturing value-added products which utilize VSMPO-AVISMA's expertise in the production of titanium.
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ALCOA INC (AA): Free Stock Analysis Report ALUMINUM CP-ADR (ACH): Get Free Report ATLATSA RESRCS (ATL): Free Stock Analysis Report BHP BILLITN LTD (BHP): Free Stock Analysis Report To read this article on Zacks.com click here. Aluminum giant Alcoa Inc. ( AA ) announced that it has agreed to form a joint venture with Russia's VSMPO-AVISMA Corporation, a leading maker of titanium ingots and forged products. Excluding one-time special items, earnings were $120 million or 11 cents a share in the quarter, much ahead of the year-ago earnings of $76 million or 7 cents per share and Zacks Consensus Estimate of 6 cents.
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Aluminum giant Alcoa Inc. ( AA ) announced that it has agreed to form a joint venture with Russia's VSMPO-AVISMA Corporation, a leading maker of titanium ingots and forged products. ALCOA INC (AA): Free Stock Analysis Report ALUMINUM CP-ADR (ACH): Get Free Report ATLATSA RESRCS (ATL): Free Stock Analysis Report BHP BILLITN LTD (BHP): Free Stock Analysis Report To read this article on Zacks.com click here. The results include restructuring and other one-time charges/gains of $96 million.
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1266.0
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2013-10-21 00:00:00 UTC
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Alcoa Unveils New Wheel Alloy - Analyst Blog
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AA
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https://www.nasdaq.com/articles/alcoa-unveils-new-wheel-alloy-analyst-blog-2013-10-21
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nan
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nan
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Aluminum giant Alcoa Inc. ( AA ) has launched the most advanced alloy for aluminum wheels. The new alloy called MagnaForce is lighter and is on an average 16.5% stronger than the industry standard 6061 alloy, also made by Alcoa. The new material also provides the same corrosion-resistance as compared with this industry standard.
Alcoa will utilize the new material to make wheels for commercial transportation, where demand for lightweight material is high, and to increase fuel efficiency. According to Alcoa, MagnaForce will ensure the strongest and lightest wheels as required to increase fleet payload and enhance stability along with reduced fuel utilization.
Alcoa invented the forged aluminum wheel in 1948 and has been the industry leader for the last 65 years. Alcoa launched the 6061 alloy about 45 years ago which is still used by all major forged aluminum wheel makers. Alcoa expects that MagnaForce will make its first commercial appearance as a new Alcoa forged aluminum truck wheel early next year.
Alcoa serves the transportation market through its business unit Alcoa Wheel and Transportation Products. The unit is part of Alcoa's downstream business, Engineered Products and Solutions. In the third quarter of 2013, Engineered Products and Solutions contributed 25% of the company's total revenues.
A few days ago, Alcoa released its third quarter results. The company posted a profit of $24 million or 2 cents per share in the quarter compared with a loss of $143 million or 13 cents per share in the year-ago quarter. The results include restructuring and other one-time charges/gains of $96 million.
Excluding one-time special items, earnings were $120 million or 11 cents a share in the quarter, much ahead of the year-ago earnings of $76 million or 7 cents per share and Zacks Consensus Estimate of 6 cents. Productivity gains, strong demand from auto makers, healthy operating performance and cost cutting supported the results despite lower metal prices.
Revenues dropped roughly 1.2% to $5,765 million from $5,833 million in the year-ago quarter but exceeded the Zacks Consensus Estimate of $5,713 million. The decline was due to weak aluminum prices, offset by strong demand in the aerospace and automotive end markets.
Alcoa reiterated its global aluminum demand growth expectation of 7% for 2013.
Alcoa, a prominent player in the mining industry along with Aluminum Corporation of China Ltd ( ACH ), Atlatsa Resources Corp. ( AT L) and BHP Billiton Ltd ( BHP ), is a world leader in production and management of primary aluminum, fabricated aluminum, and alumina. The company is also the world's largest miner of bauxite and refiner of alumina.
Alcoa currently retains a short-term Zacks Rank #3 (Hold).
ALCOA INC (AA): Free Stock Analysis Report
ALUMINUM CP-ADR (ACH): Get Free Report
ATLANTIC PWR CP (AT): Free Stock Analysis Report
BHP BILLITN LTD (BHP): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Aluminum giant Alcoa Inc. ( AA ) has launched the most advanced alloy for aluminum wheels. ALCOA INC (AA): Free Stock Analysis Report ALUMINUM CP-ADR (ACH): Get Free Report ATLANTIC PWR CP (AT): Free Stock Analysis Report BHP BILLITN LTD (BHP): Free Stock Analysis Report To read this article on Zacks.com click here. According to Alcoa, MagnaForce will ensure the strongest and lightest wheels as required to increase fleet payload and enhance stability along with reduced fuel utilization.
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ALCOA INC (AA): Free Stock Analysis Report ALUMINUM CP-ADR (ACH): Get Free Report ATLANTIC PWR CP (AT): Free Stock Analysis Report BHP BILLITN LTD (BHP): Free Stock Analysis Report To read this article on Zacks.com click here. Aluminum giant Alcoa Inc. ( AA ) has launched the most advanced alloy for aluminum wheels. Alcoa serves the transportation market through its business unit Alcoa Wheel and Transportation Products.
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ALCOA INC (AA): Free Stock Analysis Report ALUMINUM CP-ADR (ACH): Get Free Report ATLANTIC PWR CP (AT): Free Stock Analysis Report BHP BILLITN LTD (BHP): Free Stock Analysis Report To read this article on Zacks.com click here. Aluminum giant Alcoa Inc. ( AA ) has launched the most advanced alloy for aluminum wheels. Alcoa expects that MagnaForce will make its first commercial appearance as a new Alcoa forged aluminum truck wheel early next year.
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Aluminum giant Alcoa Inc. ( AA ) has launched the most advanced alloy for aluminum wheels. ALCOA INC (AA): Free Stock Analysis Report ALUMINUM CP-ADR (ACH): Get Free Report ATLANTIC PWR CP (AT): Free Stock Analysis Report BHP BILLITN LTD (BHP): Free Stock Analysis Report To read this article on Zacks.com click here. Alcoa will utilize the new material to make wheels for commercial transportation, where demand for lightweight material is high, and to increase fuel efficiency.
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1267.0
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2013-10-17 00:00:00 UTC
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Alcoa Suspends Production at Saudi Smelter - Analyst Blog
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AA
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https://www.nasdaq.com/articles/alcoa-suspends-production-at-saudi-smelter-analyst-blog-2013-10-17
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nan
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nan
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Aluminum giant Alcoa Inc. ( AA ) announced that it has temporarily halted production at one of two potlines at the smelter of its Ma'aden-Alcoa joint venture in Saudi Arabia. Alcoa shut the production after a period of pot instability. The joint venture is working to restore the potline.
Alcoa expects to complete the restoration and have the potline back online between the first and second quarter of 2014. As a result, the company said it will accelerate the ramp up of the second potline.
Alcoa does not expect any impact on its customers, and there is no impact on any other part of the joint venture, including the mine, refinery and rolling mill, which all remain on schedule.
The $10.8 billion joint venture is still in its initial start-up phase. Alcoa formed a joint venture with Ma'aden, the Saudi Arabian mining company, to develop a fully integrated industrial complex in Saudi Arabia. It is intended that the complex will become the world's preeminent and lowest-cost supplier of primary aluminum, alumina, and aluminum products, with access to the growing markets of the Middle East and beyond.
Alcoa, a prominent player in the mining industry along with Aluminum Corporation of China Limited ( ACH ), Atlatsa Resources Corporation ( ATL ) and BHP Billiton Limited ( BHP ), is a world leader in production and management of primary aluminum, fabricated aluminum, and alumina. The company is also the world's largest miner of bauxite and refiner of alumina.
Alcoa released its third-quarter 2013 results recently. The company posted a profit of $24 million or 2 cents per share in the third quarter of 2013 compared with a loss of $143 million or 13 cents per share in the year-ago quarter. The results include restructuring and other one-time charges/gains of $96 million.
Excluding one-time special items, earning was $120 million or 11 cents a share in the quarter, ahead of the year-ago earnings of $76 million or 7 cents per share and the Zacks Consensus Estimate of 6 cents. Productivity gains, strong demand from auto makers, healthy operating performance and cost cutting supported the results despite lower metal prices.
Revenues dropped roughly 1.2% to $5,765 million from $5,833 million in the year-ago quarter but exceeded the Zacks Consensus Estimate of $5,713 million. The decline was due to weak aluminum prices, offset by strong demand in the aerospace and automotive end markets.
Alcoa currently retains a short-term Zacks Rank #3 (Hold).
ALCOA INC (AA): Free Stock Analysis Report
ALUMINUM CP-ADR (ACH): Get Free Report
ATLATSA RESRCS (ATL): Free Stock Analysis Report
BHP BILLITN LTD (BHP): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Aluminum giant Alcoa Inc. ( AA ) announced that it has temporarily halted production at one of two potlines at the smelter of its Ma'aden-Alcoa joint venture in Saudi Arabia. ALCOA INC (AA): Free Stock Analysis Report ALUMINUM CP-ADR (ACH): Get Free Report ATLATSA RESRCS (ATL): Free Stock Analysis Report BHP BILLITN LTD (BHP): Free Stock Analysis Report To read this article on Zacks.com click here. Productivity gains, strong demand from auto makers, healthy operating performance and cost cutting supported the results despite lower metal prices.
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ALCOA INC (AA): Free Stock Analysis Report ALUMINUM CP-ADR (ACH): Get Free Report ATLATSA RESRCS (ATL): Free Stock Analysis Report BHP BILLITN LTD (BHP): Free Stock Analysis Report To read this article on Zacks.com click here. Aluminum giant Alcoa Inc. ( AA ) announced that it has temporarily halted production at one of two potlines at the smelter of its Ma'aden-Alcoa joint venture in Saudi Arabia. Alcoa, a prominent player in the mining industry along with Aluminum Corporation of China Limited ( ACH ), Atlatsa Resources Corporation ( ATL ) and BHP Billiton Limited ( BHP ), is a world leader in production and management of primary aluminum, fabricated aluminum, and alumina.
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ALCOA INC (AA): Free Stock Analysis Report ALUMINUM CP-ADR (ACH): Get Free Report ATLATSA RESRCS (ATL): Free Stock Analysis Report BHP BILLITN LTD (BHP): Free Stock Analysis Report To read this article on Zacks.com click here. Aluminum giant Alcoa Inc. ( AA ) announced that it has temporarily halted production at one of two potlines at the smelter of its Ma'aden-Alcoa joint venture in Saudi Arabia. Alcoa, a prominent player in the mining industry along with Aluminum Corporation of China Limited ( ACH ), Atlatsa Resources Corporation ( ATL ) and BHP Billiton Limited ( BHP ), is a world leader in production and management of primary aluminum, fabricated aluminum, and alumina.
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Aluminum giant Alcoa Inc. ( AA ) announced that it has temporarily halted production at one of two potlines at the smelter of its Ma'aden-Alcoa joint venture in Saudi Arabia. ALCOA INC (AA): Free Stock Analysis Report ALUMINUM CP-ADR (ACH): Get Free Report ATLATSA RESRCS (ATL): Free Stock Analysis Report BHP BILLITN LTD (BHP): Free Stock Analysis Report To read this article on Zacks.com click here. The joint venture is working to restore the potline.
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1268.0
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2013-10-11 00:00:00 UTC
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Trading Radar: The Earnings Floodgate Is About to Open
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AA
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https://www.nasdaq.com/articles/trading-radar-earnings-floodgate-about-open-2013-10-11
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nan
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nan
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Theeconomic calendaris light next week, and some of the important items that are on deck (Wednesday's CPI and TIC reports, and Thursday's Industrial Production report) will not be released due to the government shutdown. If the government does reopen, we could get these, plus some or all of the reports we've missed lately, including August's trade balance, September's payroll report, business inventories, producer price indexes, retail sales, construction spending, and import/export prices.
October 17 is the technical deadline for the US to approve a debt ceiling increase that would avoid a default. Market participants seem to generally agree that, at the very least, a short-term solution will be approved to get the government back open and keep the Treasury solvent.
Outside of the showdown in Washington, earnings are likely to come into focus. Earnings season began with Alcoa's ( AA ) beat on Wednesday, but only really kicked into full force today with the third-quarter reports of megabanks JPMorgan ( JPM ) and Wells Fargo ( WFC ). Next week, the floodgates really open.
As it stands now, expectations for Q3 earnings remain fairly low. On October 1, research firm FactSet reported that S&P 500 (INDEXSP:.INX) companies hit a record high for negative guidance; for the third quarter, 89 companies issued negative guidance, breaking the record of 88 last seen in the second quarter. That compares to just 19 companies issuing positive guidance. In light of the S&P's 19% return year-to-date, and the 6% upward move since the second quarter, investors may start looking for earnings to catch up with stock prices.
Next week, we'll see key reports in a number of sectors, starting on Tuesday with important financials Citigroup ( C ) and Charles Schwab ( SCHW ). This will be followed up by Bank of America (BAC) on Wednesday and Goldman Sachs (GS) on Thursday. Financials reacted fairly positively to JPMorgan and Wells Fargo's mixed numbers due to somewhat muted expectations. Given how important financial stock performance is during bull markets, traders will be watching these upcoming reports closely.
The tech sector will also be in sharp focus. On Tuesday afternoon, semiconductor giant Intel (INTC) will deliver its report. This should give investors some forward-looking information on PC demand, which has been sluggish as of late. On Thursday, Internet king Google (GOOG) reports, and as always, it should set the tone for tech trading the following day.
Also, we'll start getting numbers from consumer staples names, with Coca-Cola (KO) and Johnson & Johnson (JNJ) issuing their third-quarter numbers on Tuesday. The consumer staples sector has had a rough year in terms of earnings and guidance, and we'll get an idea of whether or not that trend will continue.
Ultimately, however, it must be noted that the biggest potential market-mover remains Washington -- and even then, the outcome remains uncertain. With the S&P 500 having already risen over 3% off of Wednesday's intraday low, the market may already be discounting the government reopening soon, as is expected by many observers.
Monday, October 14
US Economics (Time Zone: EDT)
No major economic reports - Columbus Day holidays
11:00 Fed to purchase $2.75b-$3.5b notes in 7 to 10-year range
11:30 Treasury selling $35b 3-month bills, $30b 6-month bills
Global Economics (Time Zone: GMT)
CNY Foreign Direct Investment
00:30 AUD Home Loans
01:30 CNY CPI and PPI
09:00 EUR Eurozone Industrial Production
Earnings
Before:
KMG Chemicals (KMG)
After:
Brock & Brown (BRO)
Packaging Corp. (PKG)
Wintrust Financial (WTFC)
Tuesday, October 15
US Economics (Time Zone: EDT)
08:30 Empire Manufacturing - consensus 8.00, prior 6.29
11:00 Fed to purchase $1.25b-$1.75b bonds in 23 to 30-year range
Global Economics (Time Zone: GMT)
00:30 AUD Minutes of RBA's Oct Meeting
04:30 JPY Industrial Production
08;30 GBP PPI and CPI
09:00 EUR Eurozone ZEW Economic Sentiment Survey
13:00 CAD Existing Home Sales
21:45 NZD CPI
Earnings
Before:
Charles Schwab ( SCHW )
Citigroup ( C )
Coca-Cola (KO)
Johnson & Johnson (JNJ)
Mosaic (MOS)
Omnicom (OMC)
After:
CSX (CXS)
Interactive Brokers (IBKR)
Intel (INTC)
Linear Tech (LLTC)
Yahoo! (YHOO)
Wednesday, October 16
US Economics (Time Zone: EDT)
07:00 MBA Mortgage Applications
08:30 Consumer Price Index - prior 0.1% (subject to govt shutdown0
09:00 Total Net TIC Flows - prior $56.7B (subject to govt shutdown)
09:00 Net long-term TIC flows - prior $31.1B (subject to govt shutdown)
10:00 NAHB Housing Market Index - consensus 57, prior 58
2:00 Fed's Beige Book
Global Economics (Time Zone: GMT)
08:30 GBP Employment Change
09:00 CHF ZEW Survey of Economic Expectations
09:00 EUR Eurozone CPI (final estimate)
Earnings
Before:
Abbot Labs (ABT)
ASML (ASML)
Bank of America (BAC)
BlackRock (BLK)
BNY Mellon (BK)
Comerica (CMA)
Keycorp (KEY)
M&T Bank (MTB)
Mattel (MAT)
Northern Trust (NTRS)
Pepsico (PEP)
PNC (PNC)
St. Jude Medical (STJ)
Stanley Black & Decker (SWK)
US Bancorp (USB)
W.W. Grainger (GWW)
Watsco (WSO)
After:
Albemarle (ALB)
American Express (AXP)
Crown Holdings (CCK)
eBay (EBAY)
IBM (IBM)
Kinder Morgan Partners (KMP)
Noble Corp (NE)
Sallie Mae (SLM)
SanDisk (SNDK)
Steel Dynamics (STLD)
United Rentals (URI)
Universal Forest (UFPI)
Xilinx (XLNX)
Thursday, October 17
US Economics (Time Zone: EDT)
08:30 Initial Jobless Claims - consensus 310k, prior 308k
08:30 Continuing Claims - consensus 2863K, prior 2925K
09:15 Industrial production (subject to govt shutdown)
10:00 Philly Fed - consensus 15.0, prior 22.3
11:00 Fed to purchase $1b-$1.5b TIPS in 5 to 30-year range
Global Economics (Time Zone: GMT)
00:30 AUD NAB Business Confidence Index
06:00 JPY Machine Tool Orders (final estimate)
08:30 GBP Retail Sales
23:50 JPY Japanese Investors Buying of Foreign Stocks/Bonds
Earnings
Before:
Alliance Data (ADS)
Amphenol (APH)
Baxter (BAX)
BB&T (BBT)
Blackstone (BX)
Danaher (DHR)
Dover (DOV)
Fifth Third (FITB)
Goldman Sachs (GS)
Hubbell (HUB)
Huntington Bancshares (HBAN)
Nucor (NUE)
NVR (NVR)
Peabody Energy (BTY)
Penn National Gaming (PENN)
Phillip Morris International (PM)
PPG Industries (PPG)
Quest Diagnostics (DGX)
Snap-On (SNA)
Sonoco Products (SON)
Supervalue (SVU)
Taiwan Semiconductor (TSM)
Union Pacific (UNP)
UnitedHealth (UNH)
Verizon (VZ)
After:
Advanced Micro Devices (AMD)
Capital One (COF)
Chipotle (CMG)
Google (GOOG)
Hub Group (HUBG)
Intuitive Surgical (ISRG)
Las Vegas Sands (LVS)
Stryker (SYK)
Valmont (VMI)
Werner Enterprises (WERN)
Friday, October 18
US Economics (Time Zone: EDT)
10:00 Leading Indicators
11:00 Fed to purchase $1.25b-$1.75b bonds in 23- to 30-year range
Global Economics (Time Zone: GMT)
02:00 CNY GDP
02:00 CNY Industrial Production
02:00 CNY Retail Sales
12:30 CAD CPI
Earnings
Before:
Baker Hughes (BHI)
General Electric (GE)
Genuine Parts (GPC)
Honeywell (HON)
Ingersoll-Rand (IR)
Interpublic (IPG)
KC Southern (KSU)
Laboratory Corp. (LH)
Morgan Stanley (MS)
Parker-Hannifin (PH)
Schlumberger (SLB)
SunTrust Banks (STI)
Textron (TXT)
Twitter: @Minyanville
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Earnings season began with Alcoa's ( AA ) beat on Wednesday, but only really kicked into full force today with the third-quarter reports of megabanks JPMorgan ( JPM ) and Wells Fargo ( WFC ). Kinder Morgan Partners (KMP) Noble Corp (NE) Sallie Mae (SLM) SanDisk (SNDK) Steel Dynamics (STLD) United Rentals (URI) Universal Forest (UFPI) Xilinx (XLNX) Thursday, October 17 US Economics (Time Zone: EDT) 08:30 Initial Jobless Claims - consensus 310k, prior 308k 08:30 Continuing Claims - consensus 2863K, prior 2925K 09:15 Industrial production (subject to govt shutdown) 10:00 Philly Fed - consensus 15.0, prior 22.3 11:00 Fed to purchase $1b-$1.5b TIPS in 5 to 30-year range Global Economics (Time Zone: GMT) 00:30 AUD NAB Business Confidence Index 06:00 JPY Machine Tool Orders (final estimate) 08:30 GBP Retail Sales 23:50 JPY Japanese Investors Buying of Foreign Stocks/Bonds Earnings Before: Alliance Data (ADS) Amphenol (APH) Baxter (BAX) Peabody Energy (BTY) Penn National Gaming (PENN) Phillip Morris International (PM) PPG Industries (PPG) Quest Diagnostics (DGX) Snap-On (SNA) Sonoco Products (SON) Supervalue (SVU) Taiwan Semiconductor (TSM) Union Pacific (UNP) UnitedHealth (UNH) Verizon (VZ) After: Advanced Micro Devices (AMD) Capital One (COF) Chipotle (CMG) Google (GOOG) Hub Group (HUBG) Intuitive Surgical (ISRG) Las Vegas Sands (LVS) Stryker (SYK) Valmont (VMI) Werner Enterprises (WERN) Friday, October 18 US Economics (Time Zone: EDT) 10:00 Leading Indicators 11:00 Fed to purchase $1.25b-$1.75b bonds in 23- to 30-year range Global Economics (Time Zone: GMT)
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Earnings season began with Alcoa's ( AA ) beat on Wednesday, but only really kicked into full force today with the third-quarter reports of megabanks JPMorgan ( JPM ) and Wells Fargo ( WFC ). Monday, October 14 US Economics (Time Zone: EDT) No major economic reports - Columbus Day holidays 11:00 Fed to purchase $2.75b-$3.5b notes in 7 to 10-year range 11:30 Treasury selling $35b 3-month bills, $30b 6-month bills Global Economics (Time Zone: GMT) CNY Foreign Direct Investment 00:30 AUD Home Loans 01:30 CNY CPI and PPI 09:00 EUR Eurozone Industrial Production Earnings Before: KMG Chemicals (KMG) After: Brock & Brown (BRO) Packaging Corp. (PKG) Wintrust Financial (WTFC) Tuesday, October 15 US Economics (Time Zone: EDT) 08:30 Empire Manufacturing - consensus 8.00, prior 6.29 11:00 Fed to purchase $1.25b-$1.75b bonds in 23 to 30-year range Global Economics (Time Zone: GMT) 00:30 AUD Minutes of RBA's Oct Meeting 04:30 JPY Industrial Production 08;30 GBP PPI and CPI 09:00 EUR Eurozone ZEW Economic Sentiment Survey 13:00 CAD Existing Home Sales (YHOO) Wednesday, October 16 US Economics (Time Zone: EDT) 07:00 MBA Mortgage Applications 08:30 Consumer Price Index - prior 0.1% (subject to govt shutdown0 09:00 Total Net TIC Flows - prior $56.7B (subject to govt shutdown) 09:00 Net long-term TIC flows - prior $31.1B (subject to govt shutdown) 10:00 NAHB Housing Market Index - consensus 57, prior 58 2:00 Fed's Beige Book Global Economics (Time Zone: GMT) 08:30 GBP Employment Change 09:00 CHF ZEW Survey of Economic Expectations 09:00 EUR Eurozone CPI (final estimate) Earnings Before: Abbot Labs (ABT)
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Earnings season began with Alcoa's ( AA ) beat on Wednesday, but only really kicked into full force today with the third-quarter reports of megabanks JPMorgan ( JPM ) and Wells Fargo ( WFC ). Monday, October 14 US Economics (Time Zone: EDT) No major economic reports - Columbus Day holidays 11:00 Fed to purchase $2.75b-$3.5b notes in 7 to 10-year range 11:30 Treasury selling $35b 3-month bills, $30b 6-month bills Global Economics (Time Zone: GMT) CNY Foreign Direct Investment 00:30 AUD Home Loans 01:30 CNY CPI and PPI 09:00 EUR Eurozone Industrial Production Earnings Before: KMG Chemicals (KMG) After: Brock & Brown (BRO) Packaging Corp. (PKG) Wintrust Financial (WTFC) Tuesday, October 15 US Economics (Time Zone: EDT) 08:30 Empire Manufacturing - consensus 8.00, prior 6.29 11:00 Fed to purchase $1.25b-$1.75b bonds in 23 to 30-year range Global Economics (Time Zone: GMT) 00:30 AUD Minutes of RBA's Oct Meeting 04:30 JPY Industrial Production 08;30 GBP PPI and CPI 09:00 EUR Eurozone ZEW Economic Sentiment Survey 13:00 CAD Existing Home Sales (YHOO) Wednesday, October 16 US Economics (Time Zone: EDT) 07:00 MBA Mortgage Applications 08:30 Consumer Price Index - prior 0.1% (subject to govt shutdown0 09:00 Total Net TIC Flows - prior $56.7B (subject to govt shutdown) 09:00 Net long-term TIC flows - prior $31.1B (subject to govt shutdown) 10:00 NAHB Housing Market Index - consensus 57, prior 58 2:00 Fed's Beige Book Global Economics (Time Zone: GMT) 08:30 GBP Employment Change 09:00 CHF ZEW Survey of Economic Expectations 09:00 EUR Eurozone CPI (final estimate) Earnings Before: Abbot Labs (ABT)
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Earnings season began with Alcoa's ( AA ) beat on Wednesday, but only really kicked into full force today with the third-quarter reports of megabanks JPMorgan ( JPM ) and Wells Fargo ( WFC ). Next week, we'll see key reports in a number of sectors, starting on Tuesday with important financials Citigroup ( C ) and Charles Schwab ( SCHW ). Financials reacted fairly positively to JPMorgan and Wells Fargo's mixed numbers due to somewhat muted expectations.
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1269.0
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2013-10-10 00:00:00 UTC
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Kinder Morgan, Nucor, and Other Major Commodity Earnings Coming Up
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AA
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https://www.nasdaq.com/articles/kinder-morgan-nucor-and-other-major-commodity-earnings-coming-2013-10-10
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nan
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nan
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With Alcoa ( AA ) kicking off earnings season this week, investors will be keeping a close eye on the results of their favorite commodity stocks. On Tuesday, the largest US aluminum producer reported a profit of $24 million in the third quarter - a significant uptick from the $143 million loss reported a year ago. Revenues for the company came in at $5.765 billion, beating analyst estimates of $5.66 billion; Alcoa's Q3 EPS of $0.11 also beat estimates by $0.06. In the coming week, investors will once again comb through a slew of earnings reports, but what is perhaps more important than the reports themselves is the particular outlook that each company provides.
Below, we outline some of the biggest commodity producers and what you should be looking for in their reports.
El Paso Pipeline Partners ( EPB ): This MLP, like so many others, calls Houston home. The company currently operates approximately 13,000 miles of pipeline as well as a number of storage facilities for LNG. The company will report earnings on Wednesday and analysts will be looking for EPS of $0.47 for the third quarter with revenues around $384.8 million. Note that EPB missed its earnings mark last quarter, coming in at $0.40 per share versus the consensus estimate of $0.48.
Kinder Morgan Inc ( KMI ): On Wednesday, Kinder Morgan will detail the results from its most recent quarter. The oil and gas parent firm operates in six different segments and has over 75,000 miles of total pipeline capacity. Analysts are expecting an EPS of $0.33 with revenues at $3.74 billion. KMI has missed its last three earnings marks, though revenues have exceeded estimates for the past four quarters.
Nucor Corp ( NUE ): This steelmaker has a market cap of over $15 billion and a handsome dividend yield of 3.0%. The stock will report prior to market open on Thursday and should be active throughout the session. Analysts expect the company to report earnings of $0.38 and revenues of $4.77 billion. In the second quarter, Nucor missed its earnings mark, though revenues beat expectations.
Peabody Energy Corp ( BTU ): Based in St. Louis, this coal miner has 28 operations throughout the US and Australia, and it will report its third-quarter results on Thursday. Forecasts have BTU showing EPS of -$0.03 and revenues of $1.79 billion. In the last quarter, however, analysts estimates were also negative for the company's EPS, but Peabody managed to beat expectations, posting earnings of $0.33 per share.
Schlumberger Ltd. (SLB) The biggest firm on the list, Schlumberger is well-known for its drilling and oil production as well as having a major presence in the fracking world. Schlumberger will release its earnings statement prior to market open Friday; analysts are expecting earnings to come in at $1.24 per share for the third quarter, while revenues are expected come in at $11.6 billion. Both figures are slightly higher than the previous quarter's recordings.
The Bottom Line
As always, we remind investors that earnings reports have two key elements to watch out for: the actual numbers and the guidance. A company can surpass analysts' expectations, but a cloudy forecast for the future could send the stock tumbling. Likewise, a miss on the numbers can often be overshadowed by a strong outlook. Be sure to pay attention to both aspects of each report in order to properly trade the stock.
Follow us on Twitter @CommodityHQ
Editor's note: This article by Daniela Pylypczak was originally published on Commodity HQ .
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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With Alcoa ( AA ) kicking off earnings season this week, investors will be keeping a close eye on the results of their favorite commodity stocks. Peabody Energy Corp ( BTU ): Based in St. Louis, this coal miner has 28 operations throughout the US and Australia, and it will report its third-quarter results on Thursday. In the last quarter, however, analysts estimates were also negative for the company's EPS, but Peabody managed to beat expectations, posting earnings of $0.33 per share.
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With Alcoa ( AA ) kicking off earnings season this week, investors will be keeping a close eye on the results of their favorite commodity stocks. Revenues for the company came in at $5.765 billion, beating analyst estimates of $5.66 billion; Alcoa's Q3 EPS of $0.11 also beat estimates by $0.06. In the second quarter, Nucor missed its earnings mark, though revenues beat expectations.
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With Alcoa ( AA ) kicking off earnings season this week, investors will be keeping a close eye on the results of their favorite commodity stocks. The company will report earnings on Wednesday and analysts will be looking for EPS of $0.47 for the third quarter with revenues around $384.8 million. Analysts expect the company to report earnings of $0.38 and revenues of $4.77 billion.
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With Alcoa ( AA ) kicking off earnings season this week, investors will be keeping a close eye on the results of their favorite commodity stocks. In the coming week, investors will once again comb through a slew of earnings reports, but what is perhaps more important than the reports themselves is the particular outlook that each company provides. The company will report earnings on Wednesday and analysts will be looking for EPS of $0.47 for the third quarter with revenues around $384.8 million.
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1270.0
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2013-10-09 00:00:00 UTC
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Alcoa Beats Earnings Despite Lower Prices - Analyst Blog
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AA
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https://www.nasdaq.com/articles/alcoa-beats-earnings-despite-lower-prices-analyst-blog-2013-10-09
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nan
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nan
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Alcoa Inc. ( AA ), the largest U.S. aluminum producer, posted a profit of $24 million or 2 cents per share in the third quarter of 2013 compared with a loss of $143 million or 13 cents per share in the year-ago quarter. The results include restructuring and other one-time charges/gains of $96 million.
Excluding one-time special items, earning was $120 million or 11 cents a share in the quarter, ahead of the year-ago earnings of $76 million or 7 cents per share and Zacks Consensus Estimate of 6 cents. Productivity gains, strong demand from auto makers, healthy operating performance and cost cutting supported the results despite lower metal prices.
Higher productivity and strong results in its Engineered Products and Global Rolled Products units, which accounted for 57% of the company's revenues in the first three quarter of 2013, were responsible for the increased earnings. Though Alcoa's earnings in the downstream businesses improved in 2013, the Primary Metals unit, the company's largest by revenues, has come under pressure from a decline in metal prices.
Revenues dropped roughly 1.2% to $5,765 million from $5,833 million in the year-ago quarter but exceeded the Zacks Consensus Estimate of $5,713 million. The decline was due to weak aluminum prices, offset by strong demand in the aerospace and automotive end markets. Alcoa continues to see pricing pressure with London Metal Exchange (LME) cash price falling 7% year over year in the reported quarter.
Alcoa reiterated its global aluminum demand growth expectation of 7% for 2013.
Segment Review
Alumina - Shipments in the reported quarter were 2.6 million metric tons on production of 4.21 million metric tons. After Tax Operating Income (ATOI) was $67 million, up from loss of $9 million in the year-ago quarter and profit of $64 million in the sequentially preceding quarter. The results were driven by higher Alumina Price Index-based pricing, a favorable impact from foreign exchange rates, and strong productivity savings, partly offset by lower LME prices.
Primary Metals - Shipments in the quarter were 0.69 million metric tons, down 1% from the year ago quarter. Production in the quarter was 0.90 million metric tons, almost flat from the year-ago quarter. ATOI was $8 million compared with a loss of $14 million in the year-ago quarter and a loss of $32 million in the prior quarter. The sequential increase was driven by considerable productivity gains, non-recurring power plant outages, and the favorable impact of foreign exchange rates.
Global Rolled Products - Shipments in the quarter were 0.50 million metric tons, down 0.6% year over year. Third-party revenues were $1.81 billion, down 3.8% year over year. The segment posted ATOI of $71 million, down 20.2% year over year and 10.1% sequentially. The sequential decline was due to lower volumes in aerospace and industrial markets and price pressures in packaging despite strong automotive and seasonal packaging demand.
Engineered Products and Solutions - Shipments in the quarter were 0.06 million metric tons, up 3.4% year over year. The segment posted third quarter record ATOI of $192 million, up 22% year over year and flat sequentially. The sequential increase was driven by strong productivity gains across all market segments offset by lower volumes and increased costs. Innovation in the business continues to drive share gains.
Financial Position
Alcoa ended the quarter with cash and cash equivalents of $1.02 billion, down 29% from $1.43 billion a year ago. Alcoa had a debt-to-capital ratio of 34.5% in the reported quarter versus 36.1% a year ago.
Strategic Actions
Alcoa's strategic re-positioning of its value and commodities businesses is working very well. The company is making capital investments and remains on track to move down the cost curve and curtail capacities in its upstream business. The curtailments will improve the competitiveness of the company's Primary Products business.
Alcoa's $300 million Davenport, Iowa, plant is expected to complete by the end of 2013 and it has also started construction of the $275 million automotive expansion scheduled for its Tennessee, rolling mill. Both the plants are expected to support the increasing demand for aluminum sheet for automotive production. The company expects aluminum sheet per vehicle to grow ten-fold by 2025 in North America alone.
The Ma'aden-Alcoa joint venture project in Saudi Arabia that will create the world's lowest-cost integrated aluminum facility is 99% complete and full operating capacity of 740,000 metric tons per year is expected in 2014. The smelter will be in sync with the company's goal of lowering its position on the world aluminum production cost curve by 10 percentage points overall by 2015. The smelter is expected to contribute about two percentage points to the goal.
Alcoa announced its plans to curtail 460,000 metric tons of smelting due to low metal prices and maintain cost competitiveness. In the first five months of the announcement, Alcoa closed or curtailed 274,000 metric tons, or 60%, of the capacity under review.
Outlook
Alcoa remains optimistic for 2013 and expects global demand for aluminum to increase 7%. The company envisions 9%-10% global growth in the aerospace sector this year. Alcoa's growth forecast for other markets are - automotive (1%-4%), packaging (1%-2%), commercial building and construction (4%-5%), and industrial gas turbine (3%-5%). In the heavy truck and trailer market, Alcoa raised its 2013 growth expectation (to 5%-9% from 3%-8%) on improvements in the European market and a stronger Chinese market.
Our Take
Alcoa, a prominent player in the mining industry along with Aluminum Corporation of China Limited ( ACH ), Atlatsa Resources Corporation ( ATL ) and BHP Billiton Limited ( BHP ), is a world leader in production and management of primary aluminum, fabricated aluminum, and alumina. The company is also the world's largest miner of bauxite and refiner of alumina.
Alcoa is divesting underperforming assets through its restructuring program and is aggressively pursuing cost-cutting actions. Healthy demand in the aerospace market is expected to drive results going forward. However, the company continues to contend with pricing pressure.
Alcoa currently retains a short-term Zacks Rank #3 (Hold).
ALCOA INC (AA): Free Stock Analysis Report
ALUMINUM CP-ADR (ACH): Get Free Report
ATLATSA RESRCS (ATL): Free Stock Analysis Report
BHP BILLITN LTD (BHP): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Alcoa Inc. ( AA ), the largest U.S. aluminum producer, posted a profit of $24 million or 2 cents per share in the third quarter of 2013 compared with a loss of $143 million or 13 cents per share in the year-ago quarter. ALCOA INC (AA): Free Stock Analysis Report ALUMINUM CP-ADR (ACH): Get Free Report ATLATSA RESRCS (ATL): Free Stock Analysis Report BHP BILLITN LTD (BHP): Free Stock Analysis Report To read this article on Zacks.com click here. Productivity gains, strong demand from auto makers, healthy operating performance and cost cutting supported the results despite lower metal prices.
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ALCOA INC (AA): Free Stock Analysis Report ALUMINUM CP-ADR (ACH): Get Free Report ATLATSA RESRCS (ATL): Free Stock Analysis Report BHP BILLITN LTD (BHP): Free Stock Analysis Report To read this article on Zacks.com click here. Alcoa Inc. ( AA ), the largest U.S. aluminum producer, posted a profit of $24 million or 2 cents per share in the third quarter of 2013 compared with a loss of $143 million or 13 cents per share in the year-ago quarter. Segment Review Alumina - Shipments in the reported quarter were 2.6 million metric tons on production of 4.21 million metric tons.
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Alcoa Inc. ( AA ), the largest U.S. aluminum producer, posted a profit of $24 million or 2 cents per share in the third quarter of 2013 compared with a loss of $143 million or 13 cents per share in the year-ago quarter. ALCOA INC (AA): Free Stock Analysis Report ALUMINUM CP-ADR (ACH): Get Free Report ATLATSA RESRCS (ATL): Free Stock Analysis Report BHP BILLITN LTD (BHP): Free Stock Analysis Report To read this article on Zacks.com click here. Segment Review Alumina - Shipments in the reported quarter were 2.6 million metric tons on production of 4.21 million metric tons.
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Alcoa Inc. ( AA ), the largest U.S. aluminum producer, posted a profit of $24 million or 2 cents per share in the third quarter of 2013 compared with a loss of $143 million or 13 cents per share in the year-ago quarter. ALCOA INC (AA): Free Stock Analysis Report ALUMINUM CP-ADR (ACH): Get Free Report ATLATSA RESRCS (ATL): Free Stock Analysis Report BHP BILLITN LTD (BHP): Free Stock Analysis Report To read this article on Zacks.com click here. Alcoa continues to see pricing pressure with London Metal Exchange (LME) cash price falling 7% year over year in the reported quarter.
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1271.0
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2013-10-09 00:00:00 UTC
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Mid-Morning Market Update: US Markets Mixed; Family Dollar Posts Rise In Q4 Profit
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AA
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https://www.nasdaq.com/articles/mid-morning-market-update-us-markets-mixed-family-dollar-posts-rise-q4-profit-2013-10-09
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Following the market opening Wednesday, the Dow traded up 0.11 percent to 14,792.39 while the NASDAQ declined 0.38 percent to 3,680.77. The S&P rose, gaining 0.09 percent to 1,656.89.
Top Headline Family Dollar Stores (NYSE: FDO ) reported a rise in its fourth-quarter profit.
Family Dollar's quarterly profit surged to $102.2 million, or $0.88 per share, versus $80.9 million, or $0.69 per share, in the year-ago period. Excluding special items, it earned $0.86 per share.
Its revenue climbed to $2.50 billion from $2.36 billion, while comparable-store sales came in flat. However, analysts were projecting earnings of $0.83 per share on revenue of $2.57 billion. Family Dollar estimates 2014 earnings of $3.80 to $4.15 per share.
Equities Trading UP The Men's Wearhouse (NYSE: MW ) shot up 23.28 percent to $43.45 after Jos. A. Bank Clothiers offered to acquire Men's Wearhouse for around $2.3 billion. However, Men's Wearhouse decided to reject the offer.
Shares of Jos. A Bank Clothiers (NASDAQ: JOSB ) got a boost, shooting up 5.95 percent to $44.14 on merger talk.
Alcoa (NYSE: AA ) was also up, gaining 3.27 percent to $8.20 after the company reported better-than-expected third-quarter results.
Equities Trading DOWN Shares of Ariad Pharmaceuticals (NASDAQ: ARIA ) were down 67.33 percent to $5.60 after the company reported that it is pausing patient enrollment in studies of Iclusig.
K12 (NYSE: LRN ) shares tumbled 32.70 percent to $19.24 on lower outlook. BMO Capital downgraded the stock from Outperform to Market Perform.
Yum! Brands (NYSE: YUM ) was down, falling 7.50 percent to $65.95 after the company reported a 68% drop in its third-quarter profit and lowered its forecast.
Commodities In commodity news, to $102.93, while gold traded down 1.12 percent to $1,309.80.
Silver traded down 2 percent Wednesday to $22.00, while copper fell 1.66 percent to $3.24.
Eurozone European shares today. The Spanish Ibex Index rose 1.29 percent, while Italy's FTSE MIB Index surged 1.30 percent. Meanwhile, the German DAX rose 0.13 percent and the French CAC 40 gained 0.47 percent while U.K. shares dropped 0.10 percent.
Economics The MBA's index of mortgage application activity rose 1.30% for the week ended October 4, versus a prior reading of 0.40% drop.
The Treasury is set to auction 10-year notes.
The Federal Open Market Committee will release minutes of its latest meeting at 2:30 p.m. ET.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Alcoa (NYSE: AA ) was also up, gaining 3.27 percent to $8.20 after the company reported better-than-expected third-quarter results. Equities Trading DOWN Shares of Ariad Pharmaceuticals (NASDAQ: ARIA ) were down 67.33 percent to $5.60 after the company reported that it is pausing patient enrollment in studies of Iclusig. Brands (NYSE: YUM ) was down, falling 7.50 percent to $65.95 after the company reported a 68% drop in its third-quarter profit and lowered its forecast.
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Alcoa (NYSE: AA ) was also up, gaining 3.27 percent to $8.20 after the company reported better-than-expected third-quarter results. Family Dollar's quarterly profit surged to $102.2 million, or $0.88 per share, versus $80.9 million, or $0.69 per share, in the year-ago period. Brands (NYSE: YUM ) was down, falling 7.50 percent to $65.95 after the company reported a 68% drop in its third-quarter profit and lowered its forecast.
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Alcoa (NYSE: AA ) was also up, gaining 3.27 percent to $8.20 after the company reported better-than-expected third-quarter results. Following the market opening Wednesday, the Dow traded up 0.11 percent to 14,792.39 while the NASDAQ declined 0.38 percent to 3,680.77. Equities Trading DOWN Shares of Ariad Pharmaceuticals (NASDAQ: ARIA ) were down 67.33 percent to $5.60 after the company reported that it is pausing patient enrollment in studies of Iclusig.
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Alcoa (NYSE: AA ) was also up, gaining 3.27 percent to $8.20 after the company reported better-than-expected third-quarter results. Following the market opening Wednesday, the Dow traded up 0.11 percent to 14,792.39 while the NASDAQ declined 0.38 percent to 3,680.77. Brands (NYSE: YUM ) was down, falling 7.50 percent to $65.95 after the company reported a 68% drop in its third-quarter profit and lowered its forecast.
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1272.0
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2013-10-09 00:00:00 UTC
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Midday Update: Stocks Mixed as Debt Ceiling, Shutdown Drama Erases Post-Yellen Gains
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AA
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https://www.nasdaq.com/articles/midday-update-stocks-mixed-debt-ceiling-shutdown-drama-erases-post-yellen-gains-2013-10-09
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Stocks are mixed at mid-day, giving back early gains that followed reports President Obama later today will officially name Janet Yellen to chair the Federal Reserve Board of Governors as worries over the ongoing standoff in Congress over the federal budget and debt ceiling still dominate investor attitudes. Technical issue also are influencing today's trade, with the Dow Jones Industrials Average earlier breaching key support at its 200-day moving average of 14,720 only to recover while the Nasdaq Composite is trading below its 50-day moving average at 3,692.54.
Among individual stocks, upbeat earnings from Alcoa ( AA ) were offset by disappointing earnings from Yum! Brands ( YUM ) and Costco ( COST ), while pressure on home builders continues as consumers increasingly appear to be postponing major purchases as the government shutdown continues.
The Fed this afternoon will release minutes from its last policy meeting of the Federal Open Markets Committee three weeks ago when members nearly unanimously voted to leave asset purchases unchanged at $85 billion. However, as the economic landscape continues to transform due to developments in Washington, the context of the minutes loses its significance.
European markets were mixed with the FTSE 100 pressured by weak manufacturing data from the UK while the German DAX got a lift by upbeat industrial production data. But the gains were once again tempered by pressure on the U.S. markets and likely impact the shutdown will have on the economy in Europe.
Crude oil was down $1.92 to $101.57 per barrel. Natural gas was down $0.03 to $3.69 per 1 million BTU. Gold was down $22.30 to $1,302.20 an ounce, while silver) was down $0.57 to $21.87 an ounce. Copper was down $0.06 to $3.23 per pound.
Among energy ETFs, the United States Oil Fund was down 1.88% to $36.60 with the United States Natural Gas Fund was down 0.79% to $18.95. Amongst precious-metal funds, the Market Vectors Gold Miners ETF was down 1.89% to 23.45 while SPDR Gold Shares were down 1.41% to $125.60. The iShares Silver Trust was down 2.00% to $21.06.
Here's where the markets stand at mid-day:
NYSE Composite Index down 3.69 (-0.04%) to 9,479.48
Dow Jones Industrial Average up 4.43 (+0.03%) to 14,780.96
S&P 500 down 2.26 (-0.14%) to 1,653.19
Nasdaq Composite Index down 30.32 (-0.82%) to 3,664.51
GLOBAL SENTIMENT
Nikkei 225 Index up 1.03%
Hang Seng Index down 0.63%
Shanghai China Composite Index up 0.62%
FTSE 100 Index down 0.44%
CAC 40 down 0.16%
DAX down 0.46%
NYSE SECTOR INDICES
NYSE Energy Sector Index down 0.58%
NYSE Financial Sector Index up 0.29%
NYSE Healthcare Sector Index down 0.20%
UPSIDE MOVERS
(+) MW (+27.9%) Jos. A. Bank Clothiers ( JOSB ) makes a $48 per share cash offer for the rival men's apparel retailer - with MW later rejecting the $2.3-billion offer.
(+) MG (+9.1%) Reports Q1 results that beat expectations and affirms prior forecast for FY14 revenue.
(+) AA (+3.3%) Reports Q3 EPS of $0.11, ex-items, beating the analyst consensus by $0.06 per share. Revenue was largely in-line at $5.8 billion.
DOWNSIDE MOVERS
(-) ARIA (-70.4%) FDA puts a partial hold on new patient enrollments in clinical trials of its Iclusig drug candidate after some patients suffered from serious side effects including blood clots and other cardiac problems.
(-) CYTR (-19.0%) Prices public offering of 10 million shares of common stock at $2.25 apiece.
(-) LRN (-36.5%) Announces lower-than-expected 2014 revenue guidance, triggering a downgrade to Neutral from Robert Baird.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Among individual stocks, upbeat earnings from Alcoa ( AA ) were offset by disappointing earnings from Yum! (+) AA (+3.3%) Reports Q3 EPS of $0.11, ex-items, beating the analyst consensus by $0.06 per share. Stocks are mixed at mid-day, giving back early gains that followed reports President Obama later today will officially name Janet Yellen to chair the Federal Reserve Board of Governors as worries over the ongoing standoff in Congress over the federal budget and debt ceiling still dominate investor attitudes.
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Among individual stocks, upbeat earnings from Alcoa ( AA ) were offset by disappointing earnings from Yum! (+) AA (+3.3%) Reports Q3 EPS of $0.11, ex-items, beating the analyst consensus by $0.06 per share. Among energy ETFs, the United States Oil Fund was down 1.88% to $36.60 with the United States Natural Gas Fund was down 0.79% to $18.95.
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Among individual stocks, upbeat earnings from Alcoa ( AA ) were offset by disappointing earnings from Yum! (+) AA (+3.3%) Reports Q3 EPS of $0.11, ex-items, beating the analyst consensus by $0.06 per share. Stocks are mixed at mid-day, giving back early gains that followed reports President Obama later today will officially name Janet Yellen to chair the Federal Reserve Board of Governors as worries over the ongoing standoff in Congress over the federal budget and debt ceiling still dominate investor attitudes.
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Among individual stocks, upbeat earnings from Alcoa ( AA ) were offset by disappointing earnings from Yum! (+) AA (+3.3%) Reports Q3 EPS of $0.11, ex-items, beating the analyst consensus by $0.06 per share. Brands ( YUM ) and Costco ( COST ), while pressure on home builders continues as consumers increasingly appear to be postponing major purchases as the government shutdown continues.
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1273.0
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2013-10-09 00:00:00 UTC
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Three Industrial Machinery Stocks to Lift Your Portfolio - Analyst Blog
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https://www.nasdaq.com/articles/three-industrial-machinery-stocks-lift-your-portfolio-analyst-blog-2013-10-09
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The stock market is focused closely on the fiscal chaos in Washington, but below the surface the economy has shown strength. The ISM Manufacturing Production Index has been hot in recent months and above 60 the past three months. This type of strength has not happened since 2011 and bodes well for industrial shares. Further Alcoa ( AA ) and RPM International ( RPM ) recorded stronger than expected Q3 profits confirming healthy industrial activity.
The economy is expanding solidly:
The graphic following displays the relationship between the year over year change in the ISM Manufacturing Production Index and the year over year change in the price of the Zacks Machinery Sector Index. Notice the two series tend to track each other. Strong growth is a plus for the price of machinery stocks.
Zacks Rank:
The two Zacks Rank #1 (Strong Buy) stocks are Manitex International ( MNTX ) and Middleby ( MIDD ). These stocks are seeing the strongest upward revisions to their earnings estimates based on the Zacks Rank methodology. At the same time, there are five Zacks Rank #2 (Buy), one Zacks Rank #3 (Hold), and one Zacks Rank #4 (Sell). There are no Zacks Rank #5 (Strong Sell).
Generally, a number of stocks in the sector are seeing upward revisions to their earnings estimates given the number of Rank #1 and Rank #2 companies. This is consistent with the strength in the ISM Production Index which has been arguing for vibrant economic growth. Signs of improved growth in China, Japan, and Europe add to the constructive backdrop.
Earnings Estimate Revisions:
Earnings estimates for the sector have not been revised materially over the past 30 days for either 2013 or 2014. The largest increases in 2014 EPS estimates have come at Colfax ( CFX ) followed by Ingersoll Rand ( IR ), while the Illinois Tool Works ( ITW ) and Parker Hannifin ( PH ) have seen their 2014 estimates cut. Looking at 2013, EPS estimates for ITW and Xylem ( XYL ) have increased, while numbers were reduced for PH.
Valuation:
The table below displays three metrics of valuation for each company - the 12 month forward PE ratio, the PEG ratio, and the price to sales ratio.
Usually, a stock with a low PE ratio is seen consistent with attractive valuation and a stock with a high PE ratio is consistent with poor value. The table indicates that MNTX and Babcock and Wilcox ( BWC ) have the lowest PE ratios, while MIDD and CFX have the largest PE ratios. Relative to the median, MNTX and Dover ( DOV ) are trading at a discount to their median. MNTX appears to be the cheapest stock out right and relative to its median
Like the PE ratio, a low PEG ratio is seen as a sign of value and a high PEG ratio is viewed as an indication of poor value. The PEG ratio is the price to earnings ratio relative to the growth rate in earnings per share. When the PEG ratio is above 1.0, the market is paying more for earnings than the growth rate, while when the PEG ratio is below 1.0, the market is paying less for earnings than the growth rate. It is a way to filter out high growth stocks, which may have a high PE ratio because of their earnings prospects. MNTX and BWC have the lowest PEG ratios, while XYL and PH have the highest PEG ratios. Only BWC is trading at a discount to its median value. Based on the peer group, MNTX and BWC appear to be the most inexpensive stocks.
Most traders view a low price to sales ratio as a sign of value and a high price to sale ratio as expensive. MNTX and BWC have the lowest price to sales ratios, while MIDD and ITW hold the highest price to sales ratios. Again MTNX and BWC are the cheapest relative to the peer group. ITW has the narrowest premium to its median in terms of the price to sales ratio.
Trying to summarize value, each stock was ranked by its position based on the value metrics. A one was given to the company with the lowest value metric, while a nine was given to the company with the highest value metric. An average was taken across the three measures. The company with the lowest average was MNTX followed by BWC. The most expensive shares were ITW, XYL, and MIDD.
Mixing value and the Zacks Rank:
The analysis suggests that MNTX is the most inexpensive stock followed by BWC. When these are combined with Zacks Rank, it appears that MNTX is the best candidate for purchase. MNTX is a Zacks Rank #1 (Strong Buy) and combines inexpensive valuation with upward earnings estimate revisions. BWC may also be worth a look. It is a Zacks Rank #2 (Buy), and also offers attractive valuation. MIDD is a Zacks Rank #1, but is richly priced to its peer group. The market is paying up for its earnings outlook.
IR may be of special interest. It was on the inexpensive side of its peer group and is a Zacks Rank #2. Going deeper, it is expected to spin off its security unit, Allegion, by the end of this year. Spin off stocks have a tendency to outperform the market and have been a hot investment idea this year. A purchase of IR may provide a play on the spin off investing strategy and provide an additional catalyst for price strength. IR was trading below the median valuation of the peer group in all three of the classifications.
More details on names of interest:
For those who are not familiar with MNTX, it is a leading provider of engineered lifting solutions. The stock has traded sideways through 2013. From a chart perspective, a rally over $13 would suggest a new leg higher. It is a very small $134 mln market cap. MNTX has not missed an earnings estimate in the past 10 quarters. It matched three times and beat seven times.
BWC provides advanced engineering, manufacturing, and construction solutions related to the energy industry. The stock has been stair stepping higher this year, but has stalled recently in the face of the government shutdown and debt ceiling controversy. It is a $3.6 bln market cap. Although BWC has value and strong earnings estimate revisions, it has only beaten earnings estimates seven out of the past ten quarters. Technical traders may examine the old set of highs from early August between $31.50 and $32.00 for support. Over $34.50, momentum buyers will likely take a look.
IR provides products, services and solutions for air quality, transportation and protection for food and perishables, security for homes and commercial properties, and increased industrial productivity and efficiency. Like BWC, it has been trending higher through the year, but run into a soft patch with the recent turmoil in Washington. The $59 area has been pivotal in recent months.
Conclusion:
Manitex, Babcock and Wilcox, and Ingersoll Rand are candidates to lift your portfolio. Look for these machinery stocks to flex their muscles after the fiscal fiasco in Washington ends.
ALCOA INC (AA): Free Stock Analysis Report
BABCOCK&WILCOX (BWC): Free Stock Analysis Report
COLFAX CORP (CFX): Free Stock Analysis Report
DOVER CORP (DOV): Free Stock Analysis Report
INGERSOLL RAND (IR): Free Stock Analysis Report
ILL TOOL WORKS (ITW): Free Stock Analysis Report
MIDDLEBY CORP (MIDD): Free Stock Analysis Report
MANITEX INT INC (MNTX): Free Stock Analysis Report
PARKER HANNIFIN (PH): Free Stock Analysis Report
RPM INTL INC (RPM): Free Stock Analysis Report
XYLEM INC (XYL): Free Stock Analysis Report
To read this article on Zacks.com click here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Further Alcoa ( AA ) and RPM International ( RPM ) recorded stronger than expected Q3 profits confirming healthy industrial activity. ALCOA INC (AA): Free Stock Analysis Report BABCOCK&WILCOX (BWC): Free Stock Analysis Report COLFAX CORP (CFX): Free Stock Analysis Report DOVER CORP (DOV): Free Stock Analysis Report INGERSOLL RAND (IR): Free Stock Analysis Report ILL TOOL WORKS (ITW): Free Stock Analysis Report MIDDLEBY CORP (MIDD): Free Stock Analysis Report MANITEX INT INC (MNTX): Free Stock Analysis Report PARKER HANNIFIN (PH): Free Stock Analysis Report RPM INTL INC (RPM): Free Stock Analysis Report XYLEM INC (XYL): Free Stock Analysis Report To read this article on Zacks.com click here. The stock market is focused closely on the fiscal chaos in Washington, but below the surface the economy has shown strength.
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ALCOA INC (AA): Free Stock Analysis Report BABCOCK&WILCOX (BWC): Free Stock Analysis Report COLFAX CORP (CFX): Free Stock Analysis Report DOVER CORP (DOV): Free Stock Analysis Report INGERSOLL RAND (IR): Free Stock Analysis Report ILL TOOL WORKS (ITW): Free Stock Analysis Report MIDDLEBY CORP (MIDD): Free Stock Analysis Report MANITEX INT INC (MNTX): Free Stock Analysis Report PARKER HANNIFIN (PH): Free Stock Analysis Report RPM INTL INC (RPM): Free Stock Analysis Report XYLEM INC (XYL): Free Stock Analysis Report To read this article on Zacks.com click here. Further Alcoa ( AA ) and RPM International ( RPM ) recorded stronger than expected Q3 profits confirming healthy industrial activity. The economy is expanding solidly: The graphic following displays the relationship between the year over year change in the ISM Manufacturing Production Index and the year over year change in the price of the Zacks Machinery Sector Index.
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ALCOA INC (AA): Free Stock Analysis Report BABCOCK&WILCOX (BWC): Free Stock Analysis Report COLFAX CORP (CFX): Free Stock Analysis Report DOVER CORP (DOV): Free Stock Analysis Report INGERSOLL RAND (IR): Free Stock Analysis Report ILL TOOL WORKS (ITW): Free Stock Analysis Report MIDDLEBY CORP (MIDD): Free Stock Analysis Report MANITEX INT INC (MNTX): Free Stock Analysis Report PARKER HANNIFIN (PH): Free Stock Analysis Report RPM INTL INC (RPM): Free Stock Analysis Report XYLEM INC (XYL): Free Stock Analysis Report To read this article on Zacks.com click here. Further Alcoa ( AA ) and RPM International ( RPM ) recorded stronger than expected Q3 profits confirming healthy industrial activity. MNTX appears to be the cheapest stock out right and relative to its median Like the PE ratio, a low PEG ratio is seen as a sign of value and a high PEG ratio is viewed as an indication of poor value.
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Further Alcoa ( AA ) and RPM International ( RPM ) recorded stronger than expected Q3 profits confirming healthy industrial activity. ALCOA INC (AA): Free Stock Analysis Report BABCOCK&WILCOX (BWC): Free Stock Analysis Report COLFAX CORP (CFX): Free Stock Analysis Report DOVER CORP (DOV): Free Stock Analysis Report INGERSOLL RAND (IR): Free Stock Analysis Report ILL TOOL WORKS (ITW): Free Stock Analysis Report MIDDLEBY CORP (MIDD): Free Stock Analysis Report MANITEX INT INC (MNTX): Free Stock Analysis Report PARKER HANNIFIN (PH): Free Stock Analysis Report RPM INTL INC (RPM): Free Stock Analysis Report XYLEM INC (XYL): Free Stock Analysis Report To read this article on Zacks.com click here. Valuation: The table below displays three metrics of valuation for each company - the 12 month forward PE ratio, the PEG ratio, and the price to sales ratio.
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1274.0
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2013-10-09 00:00:00 UTC
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Will Yellen's Ascension Help, Near-Term? - Ahead of Wall Street
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AA
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https://www.nasdaq.com/articles/will-yellens-ascension-help-near-term-ahead-wall-street-2013-10-09
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Wednesday, October 9, 2013
The elevation of Janet Yellen to replace Ben Bernanke as Fed Chair should help remove one source of uncertainty from the market, though the development was largely expected after Larry Summers was no longer in contention. The bigger source of uncertainty for the market is the budget fight in Washington that now appears on track to morph into debt ceiling fight. Investors are still hanging onto hopes that we will move past this issue before next week's debt ceiling deadline, but each passing day brings unhappy reminders of how destabilizing the 2011 fight had turned out to be.
Janet Yellen is a known commodity for the markets, a strong advocate of Bernanke's easy-money and transparent communications policies. The Bernanke Fed wasn't very successful on the communications front, particularly with respect to the Taper question. They were unsuccessful in convincing the bond market that Tapering and tightening were two different things.
Perhaps the confirmation hearings will give us some clues as to how different she will be in communicating with the markets, but those hearings will have to wait for the current budget battles to end. Another development on the Fed front today will be the release of minutes of the last FOMC meeting when the central bank surprised the markets with the no-Taper decision.
Beyond the Fed and the Congressional fight, the 2013 Q3 earnings season has gotten underway. This morning's reports from Costco ( COST ), Family Dollar ( FDO ) and Fastenal ( FAST ) were broadly on the weak side, as was the report from Yum Brands ( YUM ) after the close on Tuesday. But Alcoa ( AA ) was broadly positive in its release, reiterating their favorable demand outlook for aluminum.
Including this morning's earnings releases, we now have Q3 results from 26 S&P 500 companies. Total earnings for these 26 companies are up +7.9%, with 53% beating earnings expectations with a median surprise of +0.9%. Total revenues for these companies are up +5.1%, with 46.2% beating top-line expectations with a median surprise of +0.1%.
The earnings and revenue growth rates at this admittedly very early stage is tracking a bit better than what we saw from these same companies in Q2 and the 4-quarter average, while the beat ratios are roughly in-line with recent history.
A lot will be riding on guidance for Q4 given the elevated expectations for that quarter, when total earnings for the S&P 500 are expected to be up almost +10%. The overwhelming trend in recent quarters has been for companies to guide lower, prompting analysts to cut estimates.
It is still early in the Q3 reporting cycle, but that same trend appears to be at play this time around as well. If this trend remains in place in the coming days as well, we should brace ourselves for major estimate cuts. This could become a material headwind for the market beyond the current Washington fight.
Sheraz Mian
Director of Research
ALCOA INC (AA): Free Stock Analysis Report
COSTCO WHOLE CP (COST): Free Stock Analysis Report
FASTENAL (FAST): Free Stock Analysis Report
FAMILY DOLLAR (FDO): Free Stock Analysis Report
YUM! BRANDS INC (YUM): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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But Alcoa ( AA ) was broadly positive in its release, reiterating their favorable demand outlook for aluminum. Sheraz Mian Director of Research ALCOA INC (AA): Free Stock Analysis Report COSTCO WHOLE CP (COST): Free Stock Analysis Report FASTENAL (FAST): Free Stock Analysis Report FAMILY DOLLAR (FDO): Free Stock Analysis Report YUM! Wednesday, October 9, 2013 The elevation of Janet Yellen to replace Ben Bernanke as Fed Chair should help remove one source of uncertainty from the market, though the development was largely expected after Larry Summers was no longer in contention.
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Sheraz Mian Director of Research ALCOA INC (AA): Free Stock Analysis Report COSTCO WHOLE CP (COST): Free Stock Analysis Report FASTENAL (FAST): Free Stock Analysis Report FAMILY DOLLAR (FDO): Free Stock Analysis Report YUM! But Alcoa ( AA ) was broadly positive in its release, reiterating their favorable demand outlook for aluminum. The bigger source of uncertainty for the market is the budget fight in Washington that now appears on track to morph into debt ceiling fight.
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Sheraz Mian Director of Research ALCOA INC (AA): Free Stock Analysis Report COSTCO WHOLE CP (COST): Free Stock Analysis Report FASTENAL (FAST): Free Stock Analysis Report FAMILY DOLLAR (FDO): Free Stock Analysis Report YUM! But Alcoa ( AA ) was broadly positive in its release, reiterating their favorable demand outlook for aluminum. Wednesday, October 9, 2013 The elevation of Janet Yellen to replace Ben Bernanke as Fed Chair should help remove one source of uncertainty from the market, though the development was largely expected after Larry Summers was no longer in contention.
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But Alcoa ( AA ) was broadly positive in its release, reiterating their favorable demand outlook for aluminum. Sheraz Mian Director of Research ALCOA INC (AA): Free Stock Analysis Report COSTCO WHOLE CP (COST): Free Stock Analysis Report FASTENAL (FAST): Free Stock Analysis Report FAMILY DOLLAR (FDO): Free Stock Analysis Report YUM! The bigger source of uncertainty for the market is the budget fight in Washington that now appears on track to morph into debt ceiling fight.
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1275.0
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2013-10-09 00:00:00 UTC
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Pre-Market: Yellen Chosen to Take Over Fed; Yum Brands Sees Another Bad Quarter in China
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AA
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https://www.nasdaq.com/articles/pre-market-yellen-chosen-take-over-fed-yum-brands-sees-another-bad-quarter-china-2013-10
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Stocks are set to rise today after President Obama nominates Janet Yellen as the first Chairwoman of the Federal Reserve.
Obama will officially nominate Yellen at 3 p.m. today. The 67-year-old Vice Chair of the Fed was a favorite of Democrats and economists. She helped design the Fed's unprecedented monetary stimulus and is expected to continue Ben Bernanke's policies after his term ends Jan. 31.
The Fed will also release minutes of its September meeting where it unexpectedly opted to continue quantitative easing at the same level as it had for a year.
After a sharp sell-off yesterday, stock futures are rebounding slightly in pre-market trading. Dow (INDEXDJX:.DJI) futures were up 0.16% at 14,738 while futures contracts on the S&P 500 (INDEXSP:.INX) rose 0.26% to 1,654.40. Nasdaq (INDEXNASDAQ:.IXIC) futures gained 0.20% to 3,157.00.
The president and Republican lawmakers continue to argue over the debt ceiling as the government shutdown enters its ninth day. House Speaker Boehner is pushing for negotiations that will essentially do away with the Affordable Care Act, but the president insists that he will not negotiate while the government is shut down.
In company news, Alcoa ( AA ) earnings beat expectations, thanks to cost cutting and demand for aluminum for autos and aircraft. Shares are up 2.5% ahead of the opening bell.
Jos A. Bank Clothiers ( JOSB ) shares are up 9.8% as the menswear retailer has offered $2.3 billion to acquire the struggling Men'sWearhouse ( MW ). The acquisition offer is a 36% premium to yesterday's closing price. Men's Wearhouse shares are up 34% this morning.
Costco ( COST ) earnings missed expectations. The retailer reported that profit rose 1.3% to $617 million as revenue rose 1% to $31.77 billion. Comparable store sales rose 5%, but EPS of $1.40 missed expectations by $0.06.
Yum Brands, Inc ( YUM ) slumped 6.64% this morning as its continued slump in China affected earnings. EPS came in at $0.85, missing expectations. Revenue fell 2.9% to $3.47 billion. The company doesn't expect positive growth in China in the current quarter as it continues to reel from a scandal over the cleanliness of its chicken suppliers there.
Twitter: @vincent_trivett
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In company news, Alcoa ( AA ) earnings beat expectations, thanks to cost cutting and demand for aluminum for autos and aircraft. She helped design the Fed's unprecedented monetary stimulus and is expected to continue Ben Bernanke's policies after his term ends Jan. 31. The company doesn't expect positive growth in China in the current quarter as it continues to reel from a scandal over the cleanliness of its chicken suppliers there.
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In company news, Alcoa ( AA ) earnings beat expectations, thanks to cost cutting and demand for aluminum for autos and aircraft. Costco ( COST ) earnings missed expectations. Yum Brands, Inc ( YUM ) slumped 6.64% this morning as its continued slump in China affected earnings.
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In company news, Alcoa ( AA ) earnings beat expectations, thanks to cost cutting and demand for aluminum for autos and aircraft. She helped design the Fed's unprecedented monetary stimulus and is expected to continue Ben Bernanke's policies after his term ends Jan. 31. Bank Clothiers ( JOSB ) shares are up 9.8% as the menswear retailer has offered $2.3 billion to acquire the struggling Men'sWearhouse ( MW ).
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In company news, Alcoa ( AA ) earnings beat expectations, thanks to cost cutting and demand for aluminum for autos and aircraft. Men's Wearhouse shares are up 34% this morning. Costco ( COST ) earnings missed expectations.
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1276.0
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2013-10-08 00:00:00 UTC
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Weekly 3-Year Low Highlight: NEM, AA, NPK, CKSW
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AA
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https://www.nasdaq.com/articles/weekly-3-year-low-highlight-nem-aa-npk-cksw-2013-10-08
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According to GuruFocus list of 3-year lows , these Guru stocks have reached their three-year lows: Newmont Mining Corporation, Alcoa Inc., National Presto Industries and ClickSoftware Technologies Inc.
Newmont Mining Corporation ( NEM ) Reached the Three-Year Low of $27.17
The prices of Newmont Mining Corporation ( NEM ) shares have declined to close to the three-year low of $27.17, which is 63.5% off the three-year high of $72.42.
Newmont Mining Corporation has a market cap of $13.39 billion; its shares were traded at around $27.17 with a P/E ratio of 8.30 and P/S ratio of 1.48. The dividend yield of Newmont Mining Corporation stocks is 5.06%. Newmont Mining Corporation had an annual average earnings growth of 12.6% over the past 10 years.
For its second quarter of 2013, Newmont Mining Corporation reported revenues of $2.0 billion and cash flow from continuing operations of $293 million. Adjusted net loss for the quarter was $50 million, compared to adjusted income of $294 million prior year quarter.
3 Gurus Increased Positions:Ray Dalio owns 211,126 shares as of 06/30/2013, an increase of 333.52% from the previous quarter. Arnold Van Den Berg owns 1,668,084 shares as of 06/30/2013, an increase of 68.01% from the previous quarter. Brian Rogers owns 3,250,000 shares as of 06/30/2013, an increase of 19.27% from the previous quarter.
4 Gurus Reduced Positions: NWQ Managers owns 48,043 shares as of 06/30/2013, a decrease of 34.38% of from the previous quarter. T Boone Pickens owns 6,000 shares as of 06/30/2013, a decrease of 50% of from the previous quarter. John Hussman owns 500,000 shares as of 06/30/2013, a decrease of 52.56% of from the previous quarter. Meridian Funds owns 10,500 shares as of 06/30/2013, a decrease of 96.66% of from the previous quarter.
2 Gurus Sold Out NEM: Julian Robertson sold out his holdings in the quarter that ended on 06/30/2013. Richard Snow sold out his holdings in the quarter that ended on 06/30/2013.
Alcoa Inc. ( AA ) Reached the Three-Year Low of $7.87
The prices of Alcoa Inc ( AA ) shares have declined to close to the three-year low of $7.87, which is 58.7% off the three-year high of $18.47.
Alcoa Inc is owned by nine Gurus we are tracking. Among them, six have added to their positions during the past quarter and three have reduced their positions. Alcoa Inc. has a market cap of $8.52 billion; its shares were traded at around $7.87 with a P/E ratio of 82.64 and P/S ratio of 0.37. The dividend yield of Alcoa Inc. stocks is 1.51%.
3 Gurus Increased Positions: Arnold Schneider owns 452,223 shares as of 06/30/2013, an increase of 4422.23% from the previous quarter. Joel Greenblatt owns 145,543 shares as of 06/30/2013, an increase of 41.68% from the previous quarter. Richard Snow owns 188,130 shares as of 06/30/2013, an increase of 27% from the previous quarter.
3 Gurus Kept Positions in AA Unchanged or Slightly Adjusted: Arnold Van Den Berg owns 1,441,130 shares as of 09/30/2013, which accounts for 1.1% of the $1.02 billion portfolio of Century Management. Arnold Van Den Berg owns 1,392,650 shares as of 06/30/2013, which accounts for 1.1% of the $1.02 billion portfolio of Century Management. Mario Gabelli owns 2,143,560 shares as of 06/30/2013, which accounts for 0.11% of the $15.91 billion portfolio of GAMCO Investors.
National Presto Industries ( NPK ) Reached the Three-Year Low of $67.68
The prices of National Presto Industries ( NPK ) shares have declined to close to the three-year low of $67.68, which is 52.5% off the three-year high of $137.00.
National Presto Industries has a market cap of $466.943 million; its shares were traded at around $67.68 with a P/E ratio of 12.99 and P/S ratio of 1.05. The dividend yield of National Presto Industries stocks is 1.48%. National Presto Industries had an annual average earnings growth of 19.3% over the past 10 years.
The company has released its second quarter 2013 results. For this quarter, National Presto Industries generated net earnings of $8.3 million, down from the $8.7 million generated the same quarter last year. Net sales decreased to $101.9 million from $117.1 million last year.
2 Gurus Kept Positions in NPK Unchanged or Slightly Adjusted: Michael Price owns 96,924 shares as of 06/30/2013, which accounts for 0.94% of the $747 million portfolio of MFP Investors LLC. Joel Greenblatt owns 23,028 shares as of 06/30/2013, which accounts for 0.071% of the $2.35 billion portfolio of Gotham Capital.
ClickSoftware Technologies Ltd. ( CKSW ) Reached the Three-Year Low of $5.86
The prices of ClickSoftware Technologies Ltd. ( CKSW ) shares have declined to close to the three-year low of $5.86, which is 56.2% off the three-year high of $13.07.
Clicksoftware Technologies Ltd. has a market cap of $187.162 million; its shares were traded at around $5.86 with a P/E ratio of 49.75 and P/S ratio of 1.84. The dividend yield of Clicksoftware Technologies Ltd. stocks is 4.92%. Clicksoftware Technologies Ltd. had an annual average earnings growth of 7.7% over the past five years.
ClickSoftware Technologies reported second quarter 2013 revenues up 10% over the prior year quarter to $24.7 million. GAAP loss per share was $0.09 compared to no income the same quarter last year.
1 Guru Increased Positions: John Hussman owns 17,500 shares as of 06/30/2013, an increase of 75% from the previous quarter. This position accounts for 0.0066% of the $2.2 billion portfolio of Hussman Economtrics Advisors.
1 Guru Kept Positions in CKSW Unchanged or Slightly Adjusted: George Soros owns 3,130,000 shares as of 06/30/2013, which accounts for 0.28% of the $9.22 billion portfolio of Soros Fund Management LLC.About GuruFocus: GuruFocus.com tracks the stocks picks and portfolio holdings of the world's best investors. This value investing site offers stock screeners and valuation tools. And publishes daily articles tracking the latest moves of the world's best investors. GuruFocus also provides promising stock ideas in 3 monthly newsletters sent to Premium Members .
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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3 Gurus Kept Positions in AA Unchanged or Slightly Adjusted: Arnold Van Den Berg owns 1,441,130 shares as of 09/30/2013, which accounts for 1.1% of the $1.02 billion portfolio of Century Management. Alcoa Inc. ( AA ) Reached the Three-Year Low of $7.87 The prices of Alcoa Inc ( AA ) shares have declined to close to the three-year low of $7.87, which is 58.7% off the three-year high of $18.47. GAAP loss per share was $0.09 compared to no income the same quarter last year.
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Alcoa Inc. ( AA ) Reached the Three-Year Low of $7.87 The prices of Alcoa Inc ( AA ) shares have declined to close to the three-year low of $7.87, which is 58.7% off the three-year high of $18.47. 3 Gurus Kept Positions in AA Unchanged or Slightly Adjusted: Arnold Van Den Berg owns 1,441,130 shares as of 09/30/2013, which accounts for 1.1% of the $1.02 billion portfolio of Century Management. GAAP loss per share was $0.09 compared to no income the same quarter last year.
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Alcoa Inc. ( AA ) Reached the Three-Year Low of $7.87 The prices of Alcoa Inc ( AA ) shares have declined to close to the three-year low of $7.87, which is 58.7% off the three-year high of $18.47. 3 Gurus Kept Positions in AA Unchanged or Slightly Adjusted: Arnold Van Den Berg owns 1,441,130 shares as of 09/30/2013, which accounts for 1.1% of the $1.02 billion portfolio of Century Management. GAAP loss per share was $0.09 compared to no income the same quarter last year.
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Alcoa Inc. ( AA ) Reached the Three-Year Low of $7.87 The prices of Alcoa Inc ( AA ) shares have declined to close to the three-year low of $7.87, which is 58.7% off the three-year high of $18.47. 3 Gurus Kept Positions in AA Unchanged or Slightly Adjusted: Arnold Van Den Berg owns 1,441,130 shares as of 09/30/2013, which accounts for 1.1% of the $1.02 billion portfolio of Century Management. GAAP loss per share was $0.09 compared to no income the same quarter last year.
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1277.0
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2013-10-08 00:00:00 UTC
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Will DC Overshadow the Q3 Earnings Season? - Ahead of Wall Street
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AA
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https://www.nasdaq.com/articles/will-dc-overshadow-q3-earnings-season-ahead-wall-street-2013-10-08
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Tuesday, October 8, 2013
The shutdown saga continues, threatening to overshadow the 2013 Q3 earnings season that gets underway after the close today with reports from Alcoa ( AA ) and Yum Brands ( YUM ). Stocks have been under pressure because of the Washington fight, but there are no signs of anxiety as everyone expects the issue to be eventually resolved.
Alcoa's quarterly release today is the company's first since it was exiled from the Dow Jones Industrial Average. For a long time, they jealously guarded their first out-the-gate reporting status, even though earnings data collectors like us would count the start of each earnings season before they reported results. For the Q3 earnings season, we count the 21 S&P 500 companies with fiscal quarters ending in August that have already reported results already as part of the Q3 tally. The list of companies that have reported already includes such industry leaders like Nike ( NKE ), which incidentally replaced Alcoa in the Dow, Oracle ( ORCL ), FedEx ( FDX ) and others.
That said, Alcoa and Yum Brands will be the first S&P 500 companies with fiscal quarters ending in September that will report Q3 results. We will get just a trickle of earnings reports this week, but the reporting season ramps up materially next week. Let's hope that the budget and debt ceiling issues are resolved this week, as otherwise they have the potential of overshadowing the reporting season.
Similar to what we have been witnessing over the last few quarters, estimates for Q3 fell as the quarter progressed, with the overwhelmingly negative tone of company guidance as the primary driver of estimate cuts. Total earnings for companies in the S&P 500 are expected to be up +1.1% from the same period, with the growth expectation down from +5.1% in early July. Actual results will likely be better, given management teams' tendency to under-promise and over-deliver.
But more important than the likely Q3 earnings growth tally in the +2% to +3% range (that's where growth was in the last few quarters) will be guidance for Q4 which will be key to setting expectations for that quarter. Current estimates for Q4 represent a material growth ramp up of almost +9%, the starting point of the long hoped-for resumption in earnings growth. Regular readers know that I have been skeptical of estimates for Q4 and beyond and expect them to come down. We will find out in the coming weeks if we will get another round of estimate cuts or something different.
Sheraz Mian
Director of Research
ALCOA INC (AA): Free Stock Analysis Report
FEDEX CORP (FDX): Free Stock Analysis Report
NIKE INC-B (NKE): Free Stock Analysis Report
ORACLE CORP (ORCL): Free Stock Analysis Report
YUM! BRANDS INC (YUM): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Tuesday, October 8, 2013 The shutdown saga continues, threatening to overshadow the 2013 Q3 earnings season that gets underway after the close today with reports from Alcoa ( AA ) and Yum Brands ( YUM ). Sheraz Mian Director of Research ALCOA INC (AA): Free Stock Analysis Report FEDEX CORP (FDX): Free Stock Analysis Report NIKE INC-B (NKE): Free Stock Analysis Report ORACLE CORP (ORCL): Free Stock Analysis Report YUM! For the Q3 earnings season, we count the 21 S&P 500 companies with fiscal quarters ending in August that have already reported results already as part of the Q3 tally.
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Sheraz Mian Director of Research ALCOA INC (AA): Free Stock Analysis Report FEDEX CORP (FDX): Free Stock Analysis Report NIKE INC-B (NKE): Free Stock Analysis Report ORACLE CORP (ORCL): Free Stock Analysis Report YUM! Tuesday, October 8, 2013 The shutdown saga continues, threatening to overshadow the 2013 Q3 earnings season that gets underway after the close today with reports from Alcoa ( AA ) and Yum Brands ( YUM ). The list of companies that have reported already includes such industry leaders like Nike ( NKE ), which incidentally replaced Alcoa in the Dow, Oracle ( ORCL ), FedEx ( FDX ) and others.
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Sheraz Mian Director of Research ALCOA INC (AA): Free Stock Analysis Report FEDEX CORP (FDX): Free Stock Analysis Report NIKE INC-B (NKE): Free Stock Analysis Report ORACLE CORP (ORCL): Free Stock Analysis Report YUM! Tuesday, October 8, 2013 The shutdown saga continues, threatening to overshadow the 2013 Q3 earnings season that gets underway after the close today with reports from Alcoa ( AA ) and Yum Brands ( YUM ). For a long time, they jealously guarded their first out-the-gate reporting status, even though earnings data collectors like us would count the start of each earnings season before they reported results.
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Sheraz Mian Director of Research ALCOA INC (AA): Free Stock Analysis Report FEDEX CORP (FDX): Free Stock Analysis Report NIKE INC-B (NKE): Free Stock Analysis Report ORACLE CORP (ORCL): Free Stock Analysis Report YUM! Tuesday, October 8, 2013 The shutdown saga continues, threatening to overshadow the 2013 Q3 earnings season that gets underway after the close today with reports from Alcoa ( AA ) and Yum Brands ( YUM ). That said, Alcoa and Yum Brands will be the first S&P 500 companies with fiscal quarters ending in September that will report Q3 results.
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1278.0
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2013-10-08 00:00:00 UTC
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New Stock Coverage: Energizer, Whole Foods, and Walgreen
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AA
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https://www.nasdaq.com/articles/new-stock-coverage-energizer-whole-foods-and-walgreen-2013-10-08
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Today's $100 bill redesign , an event that last occurred in 1996, seems to always coincide with government shutdowns. And no wonder - with Uncle Sam's current inaction costing us $160 million a day , America must print money ever more prolifically. (Even if the action in Franklin Resources ( BEN ), which fell 1.65% yesterday and is assigned a decidedly ho-hum analyst initiation this morning, suggests it is not always about the Benjamins.) Congress, having long ago weighed in on titanic matters like TV volume , now turns its undivided attention to beer . Seriously, guys, don't sweat the small stuff. With Washingtonian gridlock entering its second week, Dow Industrials (INDEXDJX:.DJI) dropped for a tenth time in 13 sessions to fall back below 15,000.
For those who prefer old-school philately to newly minted numismatics, Stamps.com ( STMP ) slumped 3.98%. However, the Post Office, showing a degree of entrepreneurship not hitherto associated with it, clearly wants to help shareholders turn that frown upside down . Some equities did buck a bad day. Dunkin' Brands ( DNKN ), increasingly eschewing its eponymous donuts in favor of java, gained 1.03% as a new study showed coffee is better than sex . And an analyst upgrade made money talk at Apple Inc. ( AAPL ), specifically in the dulcet tones of a suburban Atlanta housewife who moonlights as Siri .
Economic data remains on hiatus due to the government shutdown, but Alcoa ( AA ), Yum Brands (YUM), and Wolverine World Wide (WWW) all unofficially usher in third-quarter earnings season when they release results today.
Alimera Sciences (ALIM): Northland Capital starts the small cap at an Outperform. Its price objective is $5.
Banks : ISI Group covers dual Dow members Goldman Sachs (GS) (Neutral) and JPMorgan Chase (JPM) (Buy).
Charter Communications (CHTR): Shares are covered with a Buy opinion and $170 target price with Wunderlich.
Chefs' Warehouse (CHEF): CHEF is a Buy at Jefferies, whose target is $28.
Consumer Products : Energizer Holdings, Inc. (ENR), best known for its indefatigable bunny , is assigned an upbeat Outperform with Wells Fargo. The company's other brands include Banana Boat, Hawaiian Tropic, Playtex, and Wet Ones. Meanwhile Kleenex maker Kimberly-Clark (KMB) is a Market Perform.
FranklinResources ( BEN ) BEN gets begun with a Neutral at ISI Group.
Grocers : Jefferies has Holds on Kroger (KR) ($45 objective), Safeway (SWY), and The Fresh Market (TFM) ($54.) It begins Buy-rated research, and a $70 price target, on Whole Foods (WFM).
Newell Rubbermaid (NWL): NWL is a new Outperform with Wells Fargo.
Pharmacy Stocks : CVS Caremark (CVS) is covered with a Buy and $71 target at Jefferies. The bank has Holds on Rite Aid (RAD) and Walgreen (WAG), rolling out respective price objectives of $5.30 and $62.
Premier, Inc. (PINC): The healthcare information stock gets picked up with a Neutral at ISI Group.
SABMiller (OTCMKTS:SBMRY): Stifel starts the brewing behemoth at a Buy, saying it may make an attractive acquisition target for arch rival Anheuser-Busch (BUD).
Sysco (SYY): The food service stock - not to be confused with the phonetically similar tech stock Cisco (CSCO); hey, funnier things have happened - is assigned a Hold at Jefferies. Its price objective is $30.
Universal Health (UHS): Goldman Sachs assigns a Buy opinion and $87 price objective on UHS.
Zions Bancorporation (ZION): Shares get set a Neutral at ISI Group.
(See also: Stock Upgrades: Procter & Gamble, Avon Products, and Cloud Peak Energy and Stock Downgrades: Jamba, JC Penney, and Alaska Air .)
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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And an analyst upgrade made money talk at Apple Inc. ( AAPL ), specifically in the dulcet tones of a suburban Atlanta housewife who moonlights as Siri . Economic data remains on hiatus due to the government shutdown, but Alcoa ( AA ), Yum Brands (YUM), and Wolverine World Wide (WWW) all unofficially usher in third-quarter earnings season when they release results today. Banks : ISI Group covers dual Dow members Goldman Sachs (GS) (Neutral) and JPMorgan Chase (JPM) (Buy).
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And an analyst upgrade made money talk at Apple Inc. ( AAPL ), specifically in the dulcet tones of a suburban Atlanta housewife who moonlights as Siri . Economic data remains on hiatus due to the government shutdown, but Alcoa ( AA ), Yum Brands (YUM), and Wolverine World Wide (WWW) all unofficially usher in third-quarter earnings season when they release results today. Banks : ISI Group covers dual Dow members Goldman Sachs (GS) (Neutral) and JPMorgan Chase (JPM) (Buy).
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Economic data remains on hiatus due to the government shutdown, but Alcoa ( AA ), Yum Brands (YUM), and Wolverine World Wide (WWW) all unofficially usher in third-quarter earnings season when they release results today. And an analyst upgrade made money talk at Apple Inc. ( AAPL ), specifically in the dulcet tones of a suburban Atlanta housewife who moonlights as Siri . Sysco (SYY): The food service stock - not to be confused with the phonetically similar tech stock Cisco (CSCO); hey, funnier things have happened - is assigned a Hold at Jefferies.
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And an analyst upgrade made money talk at Apple Inc. ( AAPL ), specifically in the dulcet tones of a suburban Atlanta housewife who moonlights as Siri . Economic data remains on hiatus due to the government shutdown, but Alcoa ( AA ), Yum Brands (YUM), and Wolverine World Wide (WWW) all unofficially usher in third-quarter earnings season when they release results today. Its price objective is $5.
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1279.0
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2013-10-08 00:00:00 UTC
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Market Primer: Tuesday, October 8: US Treasury Yields Climb As Markets Succumb To Default Fears
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AA
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https://www.nasdaq.com/articles/market-primer-tuesday-october-8-us-treasury-yields-climb-markets-succumb-default-fears
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Yields for one month US Treasury bills spiked as investors backed away in fear of a default. On Tuesday, the T-bills traded near 0.16 percent, up 14 basis points from last week.
With the US government in its second week of a shutdown, markets are becoming increasingly worried about the possibility that Congress will not come to an agreement by the October 17 deadline. Failure to reach a deal and raise the government's borrowing limit would lead the US to default on its debt, something that would have far reaching consequences.
Top News
In other news around the markets:
The Wall Street Journal reported that confidential documents from the IMF showed that Greece's 2010 bailout package was approved despite objections from nearly a third of the fund's board members. The report comes just a week before finance ministers from around the world are set to attend the IMF annual meeting in Washington, where a revision of Greece's bailout plan is expected to be high on the agenda. Critics of Greece's current aid package insist that the nation's European creditors must take on some of the burden through debt forgiveness. Tension between the US and North Korea ratcheted up on Tuesday after a North Korean military spokesman warned that the US and South Korea would face "disastrous consequences" due to the movement of ships into a South Korean port. A private survey out on Tuesday showed that China stumbled in September as growth in the nation's services sector declined. Chinese Markit/HSBC services PMI fell to 52.4 in September from 52.8 in August. The drop indicated that the nation is finding it difficult to maintain forward momentum; however the reading was well above the 50 point line that indicates expansion. Alcatel-Lucent is expected to announce that it will trim 15,000 jobs as it attempts to reshape its business. The company is trying to cut down on older technologies in order to focus on a small number of core businesses.
Asian Markets
Asian markets were up across the board with the exception of Australia's ASX 200 and New Zealand's NZ 50 which were down 0.23 percent and 0.37 percent respectively. The Japanese NIKKEI gained 0.30 percent and the Indonesian JSX composite was up 1.32 percent.
European Markets
Europe's markets were down across the board on Tuesday. The UK's FTSE lost 0.72 percent and the eurozone's STOXX 600 was down 0.47 percent. Italy's MIB was down 0.45 percent and the German DAX fell 0.23 percent.
Commodities
Energy futures picked up with Brent futures up 0.15 percent and WTI futures up 0.39 percent. Gold lost 0.35 percent and silver fell 0.45 percent. Industrial metals fared better with copper up 0.46 percent and Aluminum up 0.61 percent.
Currencies
The euro continued to trade above $1.35 but the pound lost 0.22 percent to the dollar. The yen was down 0.40 percent against the dollar.
Earnings
No notable earnings were released on Monday
Pre-Market Movers
Stocks moving in the pre-market included:
Citigroup Inc (NYSE: C ) recovered a bit from Monday's 1.95 percent loss and gained 0.79 percent in pre-market trade Perrigo Co (NYSE: PRGO ) was up 0.61 percent in pre-market trade after gaining 4.72 percent over the past week. Proctor & Gamble CO. (NYSE: PG ) gained 0.34 percent in pre-market trade after a week of choppy trading Carnival Corp (NYSE: CCL ) continued to struggle through a tough year and lost 0.81 percent in pre-market trade Macy's Inc (NYSE: M ) fell 0.51 percent in pre-market trade after dropping 2.45 percent on Monday
Earnings reports expected on Tuesday include:
Yum! Brands, Inc (NYSE: YUM ) is expected to report EPS of $0.93 per share, compared to last year's EPS of $0.99 Alcoa Inc. (NYSE: AA ) is expected to report EPS of $0.06, compared to last year's EPS of $0.03.
Economics
Tuesday'seconomic calendarwill be packed with a host of Canadian data including trade balance, exports, imports and housing starts. Other notable releases from around the world include, French trade balance, Spanish industrial production, German trade balance and Swiss retail sales and unemployment rate.
Happy trading and good luck!
For a recap of Monday's market action, click
Tune into Benzinga's pre-market info show with Dennis Dick and Joel Elconin here .
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Brands, Inc (NYSE: YUM ) is expected to report EPS of $0.93 per share, compared to last year's EPS of $0.99 Alcoa Inc. (NYSE: AA ) is expected to report EPS of $0.06, compared to last year's EPS of $0.03. The report comes just a week before finance ministers from around the world are set to attend the IMF annual meeting in Washington, where a revision of Greece's bailout plan is expected to be high on the agenda. Economics Tuesday'seconomic calendarwill be packed with a host of Canadian data including trade balance, exports, imports and housing starts.
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Brands, Inc (NYSE: YUM ) is expected to report EPS of $0.93 per share, compared to last year's EPS of $0.99 Alcoa Inc. (NYSE: AA ) is expected to report EPS of $0.06, compared to last year's EPS of $0.03. Earnings No notable earnings were released on Monday Pre-Market Movers Stocks moving in the pre-market included: Citigroup Inc (NYSE: C ) recovered a bit from Monday's 1.95 percent loss and gained 0.79 percent in pre-market trade Perrigo Co (NYSE: PRGO ) was up 0.61 percent in pre-market trade after gaining 4.72 percent over the past week. Proctor & Gamble CO. (NYSE: PG ) gained 0.34 percent in pre-market trade after a week of choppy trading Carnival Corp (NYSE: CCL ) continued to struggle through a tough year and lost 0.81 percent in pre-market trade Macy's Inc (NYSE: M ) fell 0.51 percent in pre-market trade after dropping 2.45 percent on Monday Earnings reports expected on Tuesday include: Yum!
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Brands, Inc (NYSE: YUM ) is expected to report EPS of $0.93 per share, compared to last year's EPS of $0.99 Alcoa Inc. (NYSE: AA ) is expected to report EPS of $0.06, compared to last year's EPS of $0.03. Asian Markets Asian markets were up across the board with the exception of Australia's ASX 200 and New Zealand's NZ 50 which were down 0.23 percent and 0.37 percent respectively. Earnings No notable earnings were released on Monday Pre-Market Movers Stocks moving in the pre-market included: Citigroup Inc (NYSE: C ) recovered a bit from Monday's 1.95 percent loss and gained 0.79 percent in pre-market trade Perrigo Co (NYSE: PRGO ) was up 0.61 percent in pre-market trade after gaining 4.72 percent over the past week.
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Brands, Inc (NYSE: YUM ) is expected to report EPS of $0.93 per share, compared to last year's EPS of $0.99 Alcoa Inc. (NYSE: AA ) is expected to report EPS of $0.06, compared to last year's EPS of $0.03. European Markets Europe's markets were down across the board on Tuesday. Gold lost 0.35 percent and silver fell 0.45 percent.
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1280.0
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2013-10-08 00:00:00 UTC
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Senate May Try to Raise Debt Limit for One Year; Alcoa, Yum Brands to Kick Off Earnings Season
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AA
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https://www.nasdaq.com/articles/senate-may-try-raise-debt-limit-one-year-alcoa-yum-brands-kick-earnings-season-2013-10-08
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nan
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nan
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Stocks fared slightly better this morning as politicians might negotiate toward a temporary breakthrough in the stalemate that will keep the government running long enough to avoid a default for now.
The Senate Democrats might put forward a vote today to allow the President to raise the debt limit without policy strings attached such as delaying or defunding the Affordable Care Act. If it works in the Senate, it will go to the House right before the October 17 deadline. Then again, Senate Republicans could filibuster the measure.
For now, this progress has stemmed the sell-off of US indices, and stock futures are higher. Dow (INDEXDJX:.DJI) futures were up 0.11% at 14,867 while futures contracts on the S&P 500 (INDEXSP:.INX) rose 0.16% to 1,670.30. Nasdaq (INDEXNASDAQ:.IXIC) futures also gained 0.19% to 3,211.00.
Again, we aren't going to see the economic data that was originally scheduled for today, so there will be no international trade or job openings and labor turnover (JOLTS).
Earnings season kicks off today. Though it is no longer a Dow component, Alcoa ( AA ) will report its earnings after the bell, as will Yum Brands, Inc ( YUM ). Alcoa is expected to book $0.06 per share in the third quarter, double its profit from a year ago. Revenue, however, is expected to fall 3.4% to $5.63 billion. Yum's EPS is like to have fallen by $0.06 to $0.93 per share as revenue falls 1% to $3.53 billion.
JC Penney ( JCP ) shares are up 7.4% in pre-market trading this morning after the store showed improving monthly same-store sales. In the month ending October 5, sales were up 5.8% from August, but they are still 4% worse than a year ago.
Alcatel-Lucent, SA ( ALU ), the French global networking company, confirmed that it will lay off 10,000 workers, or about 14% of its staff, in order to cut costs.
Twitter: @vincent_trivett
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Though it is no longer a Dow component, Alcoa ( AA ) will report its earnings after the bell, as will Yum Brands, Inc ( YUM ). Stocks fared slightly better this morning as politicians might negotiate toward a temporary breakthrough in the stalemate that will keep the government running long enough to avoid a default for now. The Senate Democrats might put forward a vote today to allow the President to raise the debt limit without policy strings attached such as delaying or defunding the Affordable Care Act.
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Though it is no longer a Dow component, Alcoa ( AA ) will report its earnings after the bell, as will Yum Brands, Inc ( YUM ). Yum's EPS is like to have fallen by $0.06 to $0.93 per share as revenue falls 1% to $3.53 billion. Twitter: @vincent_trivett The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Though it is no longer a Dow component, Alcoa ( AA ) will report its earnings after the bell, as will Yum Brands, Inc ( YUM ). The Senate Democrats might put forward a vote today to allow the President to raise the debt limit without policy strings attached such as delaying or defunding the Affordable Care Act. Twitter: @vincent_trivett The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Though it is no longer a Dow component, Alcoa ( AA ) will report its earnings after the bell, as will Yum Brands, Inc ( YUM ). If it works in the Senate, it will go to the House right before the October 17 deadline. In the month ending October 5, sales were up 5.8% from August, but they are still 4% worse than a year ago.
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1281.0
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2013-10-08 00:00:00 UTC
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Trade the Earnings: Alcoa Inc.
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AA
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https://www.nasdaq.com/articles/trade-earnings-alcoa-inc-2013-10-08
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nan
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nan
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Earnings Release Date: 10/08/2013
Time: After-hours
Avg. Extended-Hours Dollar Volume: $344,619,863
Earnings Sensitivity (up or down): 2.6%
Alcoa Inc. ( AA ) is due to issue its quarterly earnings report after the close today. Given its history, traders can expect very active trading in the upcoming After-hours session immediately following the company's release of its quarterly earnings. An analysis of historical premarket and after-hours trading activity and liquidity conditions in AA following an earnings release indicates that the price change in the extended hours is likely to be of significant value in forecasting additional price movement in the following regular session.
Analysts at MidnightTrader have tracked how AA's stock price has reacted to quarterly earnings events the past both in the after-hours and following regular session. The result of that study is below.
Over the last year, when shares of AA rose in the extended-hours in reaction to its earnings announcement, there is limited evidence to suggest a follow-through in the same direction the next day.
Over the last year, when shares of AA dropped in the extended-hours in reaction to its earnings announcement, there is limited evidence to suggest a follow-through in the same direction the next day.
Our analysis of over a decade of company specific earnings related news and price data on over 5,000 US companies demonstrates that earnings event related trading opportunities can exist for those trading in the after-hours and premarket sessions. Certain stocks demonstrate a historical tendency to either underprice or overreact to earnings news in the extended-hours (the time when companies typically release earnings) relative to the following regular session close.
This report was created using historical data and analysis provided by the Midnight Trader Pro service at MidnightTrader.com.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Analysts at MidnightTrader have tracked how AA's stock price has reacted to quarterly earnings events the past both in the after-hours and following regular session. Over the last year, when shares of AA rose in the extended-hours in reaction to its earnings announcement, there is limited evidence to suggest a follow-through in the same direction the next day. Over the last year, when shares of AA dropped in the extended-hours in reaction to its earnings announcement, there is limited evidence to suggest a follow-through in the same direction the next day.
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Over the last year, when shares of AA rose in the extended-hours in reaction to its earnings announcement, there is limited evidence to suggest a follow-through in the same direction the next day. Extended-Hours Dollar Volume: $344,619,863 Earnings Sensitivity (up or down): 2.6% Alcoa Inc. ( AA ) is due to issue its quarterly earnings report after the close today. An analysis of historical premarket and after-hours trading activity and liquidity conditions in AA following an earnings release indicates that the price change in the extended hours is likely to be of significant value in forecasting additional price movement in the following regular session.
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An analysis of historical premarket and after-hours trading activity and liquidity conditions in AA following an earnings release indicates that the price change in the extended hours is likely to be of significant value in forecasting additional price movement in the following regular session. Extended-Hours Dollar Volume: $344,619,863 Earnings Sensitivity (up or down): 2.6% Alcoa Inc. ( AA ) is due to issue its quarterly earnings report after the close today. Analysts at MidnightTrader have tracked how AA's stock price has reacted to quarterly earnings events the past both in the after-hours and following regular session.
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Extended-Hours Dollar Volume: $344,619,863 Earnings Sensitivity (up or down): 2.6% Alcoa Inc. ( AA ) is due to issue its quarterly earnings report after the close today. An analysis of historical premarket and after-hours trading activity and liquidity conditions in AA following an earnings release indicates that the price change in the extended hours is likely to be of significant value in forecasting additional price movement in the following regular session. Analysts at MidnightTrader have tracked how AA's stock price has reacted to quarterly earnings events the past both in the after-hours and following regular session.
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1282.0
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2013-10-08 00:00:00 UTC
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Stock Downgrades: Jamba, JC Penney, and Alaska Air
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AA
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https://www.nasdaq.com/articles/stock-downgrades-jamba-jc-penney-and-alaska-air-2013-10-08
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nan
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nan
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When National Bank of Greece ( NBG ), which surged some 16.12%, easily tops the entire NYSE, you know something isn't quite right. Thus did the Dow (INDEXDJX:.DJI) drop to a one-month low after comments by House Speaker John Boehner on a show hosted by that proud son of Athens, George Stephanopoulos . (Hey, where there's a Will, there's a way . Even if that other George is now a Fox guarding the hen house.)
With Uncle Sam again idle, telecoms were the sole sector to end up. Verizon ( VZ ) - its ability to charge the government $775 per month to tap our phone lines apparently unimpaired by the shutdown - gained 1.13%. Twitter (TWTR), which isn't even trading yet, followed up Friday's Tweeter inanity by being begun with a bullish "Buy" initiation . Alas JC Penney's ( JCP ) recent attempts to humanize the hashtag fell flat on its face, as it plunged 1.91% to a fresh low. And we received redundant proof that misery does indeed love company as Rick's Cabaret ( RICK ) - whose stock has been on a rocket to the moon of late - lost 1.36% after the adult entertainment operator banned the 0-5 Giants from its premises .
Economic data remains on hiatus due to the government shutdown, but Alcoa ( AA ), Yum Brands (YUM), and Wolverine World Wide (WWW) all unofficially usher in third-quarter earnings season when they release results today.
Alaska Air (ALK): Shares are downgraded to Hold from Buy at Deutsche Bank.
BostonProperties (BXP): Bank of America-Merrill Lynch lowers the real estate outfit to Neutral from Buy.
BrookfieldOffice Properties (BPO): Shares are moved to Neutral from Outperform at Macquarie.
Ceva Inc. (CEVA): The specialized semiconductor stock gets slashed to Perform from Outperform at Oppenheimer, which cites smartphone issues among other challenges to its earnings.
GDF Suez (OTCMKTS:GDFZY): The utility is trading lower in Europe today after getting downgraded to Neutral from Buy at Citigroup.
Group 1 Automotive (GPI): Morgan Stanley inflicts an unusual 180 degree (Underweight from Overweight) downgrade on the stock. Its reduced price objective is $64.
Jamba, Inc. (JMBA): The juice giant, falling 15% as I write, is moved to Market Perform from Outperform at Northland. A sharp slippage in sales, amid lower overall earnings guidance, are each cited. Its target is taken to $12.
JC Penney ( JCP ): The stock, which hit fresh lows yesterday but is bouncing back impressively this morning, are now Neutral from Buy at Sterne Agee.
Masco (MAS): KeyBanc moves home-builder MAS to Underweight from Hold.
Novartis (NVS): The pharmaceutical giant is falling overseas today after being taken to Neutral from Overweight at JPMorgan, which says that "improved capital allocation is already reflected [in its stock]."
Wells Fargo (WFC): Shares are now Neutral from Outperform at Macquarie.
(See also: New Stock Coverage: Energizer, Whole Foods, and Walgreen and Stock Upgrades: Procter & Gamble, Avon Products, and Cloud Peak Energy .)
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Economic data remains on hiatus due to the government shutdown, but Alcoa ( AA ), Yum Brands (YUM), and Wolverine World Wide (WWW) all unofficially usher in third-quarter earnings season when they release results today. Thus did the Dow (INDEXDJX:.DJI) drop to a one-month low after comments by House Speaker John Boehner on a show hosted by that proud son of Athens, George Stephanopoulos . JC Penney ( JCP ): The stock, which hit fresh lows yesterday but is bouncing back impressively this morning, are now Neutral from Buy at Sterne Agee.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Economic data remains on hiatus due to the government shutdown, but Alcoa ( AA ), Yum Brands (YUM), and Wolverine World Wide (WWW) all unofficially usher in third-quarter earnings season when they release results today. JC Penney ( JCP ): The stock, which hit fresh lows yesterday but is bouncing back impressively this morning, are now Neutral from Buy at Sterne Agee.
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Economic data remains on hiatus due to the government shutdown, but Alcoa ( AA ), Yum Brands (YUM), and Wolverine World Wide (WWW) all unofficially usher in third-quarter earnings season when they release results today. GDF Suez (OTCMKTS:GDFZY): The utility is trading lower in Europe today after getting downgraded to Neutral from Buy at Citigroup. JC Penney ( JCP ): The stock, which hit fresh lows yesterday but is bouncing back impressively this morning, are now Neutral from Buy at Sterne Agee.
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Economic data remains on hiatus due to the government shutdown, but Alcoa ( AA ), Yum Brands (YUM), and Wolverine World Wide (WWW) all unofficially usher in third-quarter earnings season when they release results today. BrookfieldOffice Properties (BPO): Shares are moved to Neutral from Outperform at Macquarie. GDF Suez (OTCMKTS:GDFZY): The utility is trading lower in Europe today after getting downgraded to Neutral from Buy at Citigroup.
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1283.0
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2013-10-08 00:00:00 UTC
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Alcoa Starts Earnings Season Maintaining Status as Short Play off After-Hours Report
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AA
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https://www.nasdaq.com/articles/alcoa-starts-earnings-season-maintaining-status-short-play-after-hours-report-2013-10-08
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nan
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nan
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Alcoa ( AA ) is due with its Q3 results in tonight's after-hours. The stock is historically a short favorite when it comes to adding to downside momentum in the wake of its earnings-driven after-hours declines, as well as narrowing its after-hours gains in next-day action.
AA has recorded an after-hours decline in 20 of the last 38 quarters we've tracked, and 12 times, or 60% of the time, that decline has widened for deeper losses by the following day's regular session close.
On the upside, AA has seen an earnings-driven after-hours gain in 18 of the 38 quarters we've tracked over the last 10 years. In 13 of those quarters, 72% of the time, the after-hours gain has narrowed or reversed into the red in the following day's regular session. Longs should be cautious in this stock. The reversal pattern on gains makes it even more appealing for shorts to check out where any potential ceiling levels may develop in tonight's after-hours.
AA is expected to report Q3 earnings of $0.05 per share on revenue of $5.63 billion, according analysts polled by Capital IQ.
Here's the historical data:
On July 8, 2013, AA edged 0.1% lower in evening trade after beating on Q2 earnings and meeting revenue expectations. The stock maintained the same 0.1% decline in the close on July 9.
On April 8, 2013, AA dropped 1.3% in after-hours action after beating Q1 earnings estimates and meeting on revenue. The stock reversed course the next day, ending the April 9 regular session flat.
On Jan. 8, 2013, AA edged up 0.9% in after-hours trade after meeting Q4 earnings estimates and beating on revenue. The stock reversed direction the next day, closing the Jan. 9 regular session down 0.2%.
On Oct. 9, 2012, AA dipped 0.2% in night trade after beating on Q3 and reaffirming its forward targets. The stock added to its downside the next day, closing the Oct. 10 regular session off 4.6%.
On July 9, 2012, AA edged up 0.1% in after-hours trade after beating Q2 revenue expectations. The stock reversed sharply the next day, closing the July 10 regular session off 4.1%.
On April 10, 2012, AA advanced 5.5% in evening trade after blowing past Q1 Street expectations. The stock added modestly to its gains the next day, ending up 5.2% on April 11.
On Jan. 9, 2012, AA edged up 0.2% in after-hours action after topping Q4 expectations. The stock cut its upside slightly the next day, closing the Jan. 10 regular session up a thin 0.1%.
On Oct. 11, 2011, AA dropped 4.6% in evening trade after reporting mixed Q3 results. The stock cut its downside the next day, ending the Oct. 12 regular session off 2.4%.
On July 11, 2011, AA declined 1.3% in after-hours trade after meeting Q2 earnings estimates and beating on revenue. The stock narrowed its downside slightly the next day, ending the July 12 regular session off 1.26%.
On April 11, 2011, AA shed 3.2% in evening trade after beating earnings estimates and meeting on revenue. The stock moved deeper south the following day, closing the April 12 regular session off 6%.
On Jan. 10, 2011, AA declined 1.7% in after-hours action after beating Q4 expectations. The stock cut its downside slightly in the Jan. 11 regular session, ending Jan. 11 trade off 0.9%.
On Oct. 7, 2010, AA gained 2.5% in after-hours trade after posting better-than-expected Q3 results. The stock added to its upside the following day, closing the Oct. 8 regular session up 5.6%.
On July 12, 2010, AA advanced 3% in evening trde after topping earnings expectations. The stock lost a chunk of its gain the following day, closing the July 13 regular session up 1.2%.
On April 12, 2010, AA edged 0.4% lower after reporting a narrower year-over-year loss and just missing revenue expectations. The stock added to its downside in the April 13 regular session, ending down 1.5%.
On Jan. 11, 2010, AA shed 4.9% in after-hours trade after missing earnings expectations and beating on revenue. The stock added to its downside the following day, sliding 11% by the closing bell on Jan. 12.
On Oct. 7, 2009, AA firmed 5.6% in after-hours trade after posting an unexpected profit. The stock lost the bulk of its gains the following day, ending the Oct. 8 regular session up 1%.
On July 8, 2009, the stock gained 4% in evening trading after AA beat with Q2 results. Shares closed down 2.4% the following day.
On April 7, 2009, AA declined 3.4% in after-hours action after posting a sharp year-over-year decline in its quarterly results. It reversed direction the following day, ending the April 8 regular session up 3.4%.
On Jan. 12, 2009, AA edged down 0.6% in after-hours trade after reporting a year-over-year decline in revenue and swinging to a loss. The stock tumbled deeper in the red the next day, losing 5% by the close on Jan. 13.
On Oct. 7, 2008, AA declined 3.6% in after-hours trade after missing earnings expectations and announcing it was suspending its stock buyback. The stock tumbled lower in the Oct. 8 regular session, losing 12% by the closing bell.
On July 8, 2008, the stock gained 3.7% during evening trading as AA beat with Q2 results. The stock reversed and closed down 2.4% the next day.
On April 7, 2008, AA edged up 0.03% in after-hours trade after the company missed the Street's estimates by a penny-a-share but beat revenue estimates. The gain reversed the following day with shares ending lower by 0.7%.
On Jan. 9, 2008, the stock gained 3.2% after AA reported ahead of the Street with Q4 and FY sales. The gain was clipped to 0.6% the next day.
On Oct. 9, 2007, AA edged up 0.3% in after-hours trade after beating on sales but missing on earnings. It turned south the following day, losing 2.4% by the closing bell.
On July 9, 2007, AA dipped 0.7% in night trade after Q2 profits slipped from a year ago on lower-than-expected sales. Shares eased further the next day, closing the regular session down 1.6%.
On April 10, 2007, AA came off a trading halt and edged up 2.2% after topping Q1 estimates. However, shares could not hold onto that momentum and closed the following day session up only 0.5%.
On Jan. 9, 2007, AA gained 4.7% in the evening hours after the company reported ahead of the Street and the year-ago period with Q4 results. The stock gained 6% the next day.
On Oct. 10, 2006, AA reported improved year-over-year results but guided for sales shy of the then-current Street view. The stock declined 5.9% in after-hours trade, but narrowed a bit in the Oct. 11 regular session, ending the day down 5%.
On July 10, 2006, AA dropped 4.5% in after-hours trade when the company reported Q2 sales that missed estimates. The shares fell slightly more the following day, ending the regular session down 4.8%.
AA ramped 5.9% higher the night of April 10 after the company posted results up sharply over year ago levels. It failed to add to the upside momentum the next day but still managed to see a 3.8% rise by the close on April 11.
On Jan. 9, 2006, shares fell 3% after the company missed by 2 cents with Q4 EPS and was about in line with sales. The loss expanded modestly to 3.1% the next day.
On Oct. 10, 2005, Alcoa edged up 1.8% in evening trade after the company beat on EPS but posted revenue just shy of the Street target. It narrowed its upside slightly the next day, adding only 0.8% between the bells.
On July 7, 2005 Alcoa advanced 2.5% in after-hours trading after the company beat the Street on both revenue and earnings. It firmed even higher in the July 8 regular session, rising 4.2% by the closing bell.
On April 6, 2005 Alcoa added 2.2% in after-hours trade after the company edged out Q1 earnings estimates but came in light on the revenue side. The stock pushed higher on April 7, rising 4.9% by that day's regular session close.
On Jan. 10, 2005, Alcoa missed earnings and revenue expectations and the stock edged down 1% in that night's after-hours trade. It was hit with more aggressive downside trade on Jan. 11, ending the regular session off 2.6%.
On Oct. 7, 2004 Alcoa lost 1.4% in after-hours trade after the company reported in-line EPS but came in shy on the revenue line. The stock added to its negative momentum on Oct. 8, closing out the bell-to-bell session with a 2% decline.
Back on June 7 of 2004 Alcoa was hit for a 3.5% decline in evening play after the company missed on earnings and posted better-than-expected revenue results. The stock managed to pare its losses the next day, closing out the day session with a more modest 0.6% decline.
Finally, on April 6, 2004 Alcoa slimmed down 3.7% in night trade after the company posted revenue ahead of estimates but missed on EPS. It ended the April 7 regular session with a more aggressive 5% decline.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Alcoa ( AA ) is due with its Q3 results in tonight's after-hours. AA has recorded an after-hours decline in 20 of the last 38 quarters we've tracked, and 12 times, or 60% of the time, that decline has widened for deeper losses by the following day's regular session close. On the upside, AA has seen an earnings-driven after-hours gain in 18 of the 38 quarters we've tracked over the last 10 years.
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Here's the historical data: On July 8, 2013, AA edged 0.1% lower in evening trade after beating on Q2 earnings and meeting revenue expectations. On April 8, 2013, AA dropped 1.3% in after-hours action after beating Q1 earnings estimates and meeting on revenue. On April 12, 2010, AA edged 0.4% lower after reporting a narrower year-over-year loss and just missing revenue expectations.
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AA has recorded an after-hours decline in 20 of the last 38 quarters we've tracked, and 12 times, or 60% of the time, that decline has widened for deeper losses by the following day's regular session close. On April 7, 2008, AA edged up 0.03% in after-hours trade after the company missed the Street's estimates by a penny-a-share but beat revenue estimates. Alcoa ( AA ) is due with its Q3 results in tonight's after-hours.
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On July 8, 2009, the stock gained 4% in evening trading after AA beat with Q2 results. On July 8, 2008, the stock gained 3.7% during evening trading as AA beat with Q2 results. Alcoa ( AA ) is due with its Q3 results in tonight's after-hours.
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1284.0
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2013-10-08 00:00:00 UTC
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After Hours Most Active for Oct 8, 2013 : ALU, POM, AA, QQQ, YUM, BRCD, MU, V, DELL, RRD, BAC, FB
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AA
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https://www.nasdaq.com/articles/after-hours-most-active-oct-8-2013-alu-pom-aa-qqq-yum-brcd-mu-v-dell-rrd-bac-fb-2013-10-08
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nan
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nan
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The NASDAQ 100 After Hours Indicator is up .74 to 3,154.61. The total After hours volume is currently 27,940,196 shares traded.
The following are the most active stocks for the after hours session :
Alcatel Lucent ( ALU ) is +0.02 at $3.51, with 3,861,157 shares traded. ALU's current last sale is 187.2% of the target price of $1.875.
PEPCO Holdings, Inc. ( POM ) is unchanged at $18.34, with 2,046,493 shares traded. POM's current last sale is 91.7% of the target price of $20.
Alcoa Inc. ( AA ) is +0.13 at $8.07, with 1,988,421 shares traded. RTT News Reports: Alcoa Swings To Profit, Tops Estimates - Quick Facts
PowerShares QQQ Trust, Series 1 ( QQQ ) is +0.07 at $77.29, with 1,479,512 shares traded. This represents a 26.06% increase from its 52 Week Low.
Yum! Brands, Inc. ( YUM ) is -4.56 at $67.11, with 1,421,268 shares traded. RTT News Reports: Uneasy Sentiment Prevails On Wall Street
Brocade Communications Systems, Inc. ( BRCD ) is -0.0037 at $8.09, with 1,169,085 shares traded. BRCD's current last sale is 101.08% of the target price of $8.
Micron Technology, Inc. ( MU ) is unchanged at $17.93, with 1,162,639 shares traded. Over the last four weeks they have had 5 up revisions for the earnings forecast, for the fiscal quarter ending Nov 2013. The consensus EPS forecast is $0.42. MU is scheduled to provide an earnings report on 10/10/2013, for the fiscal quarter ending Aug2013. The consensus earnings per share forecast is 0.23 per share, which represents a -24 percent increase over the EPS one Year Ago
Visa Inc. ( V ) is -0.4 at $182.13, with 818,162 shares traded. As reported by Zacks, the current mean recommendation for V is in the "buy range".
Dell Inc. ( DELL ) is unchanged at $13.83, with 797,280 shares traded. DELL's current last sale is 100.95% of the target price of $13.7.
R.R. Donnelley & Sons Company ( RRD ) is -0.0032 at $15.85, with 765,319 shares traded. As reported in the last short interest update the days to cover for RRD is 10.36322; this calculation is based on the average trading volume of the stock.
Bank of America Corporation ( BAC ) is +0.08 at $13.77, with 639,711 shares traded. Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Mar 2014. The consensus EPS forecast is $0.29. BAC's current last sale is 94.97% of the target price of $14.5.
Facebook, Inc. ( FB ) is -0.09 at $47.05, with 597,844 shares traded. Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Dec 2013. The consensus EPS forecast is $0.17. As reported by Zacks, the current mean recommendation for FB is in the "buy range".
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Alcoa Inc. ( AA ) is +0.13 at $8.07, with 1,988,421 shares traded. The following are the most active stocks for the after hours session : Alcatel Lucent ( ALU ) is +0.02 at $3.51, with 3,861,157 shares traded. RTT News Reports: Uneasy Sentiment Prevails On Wall Street Brocade Communications Systems, Inc. ( BRCD ) is -0.0037 at $8.09, with 1,169,085 shares traded.
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Alcoa Inc. ( AA ) is +0.13 at $8.07, with 1,988,421 shares traded. The total After hours volume is currently 27,940,196 shares traded. RTT News Reports: Alcoa Swings To Profit, Tops Estimates - Quick Facts PowerShares QQQ Trust, Series 1 ( QQQ ) is +0.07 at $77.29, with 1,479,512 shares traded.
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Alcoa Inc. ( AA ) is +0.13 at $8.07, with 1,988,421 shares traded. Brands, Inc. ( YUM ) is -4.56 at $67.11, with 1,421,268 shares traded. The consensus earnings per share forecast is 0.23 per share, which represents a -24 percent increase over the EPS one Year Ago Visa Inc. ( V ) is -0.4 at $182.13, with 818,162 shares traded.
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Alcoa Inc. ( AA ) is +0.13 at $8.07, with 1,988,421 shares traded. The NASDAQ 100 After Hours Indicator is up .74 to 3,154.61. BAC's current last sale is 94.97% of the target price of $14.5.
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1285.0
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2013-10-08 00:00:00 UTC
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MT Insider: MT Newswires: Day 8 of Gov Shutdown - Still a Gridlock, Oct. 17 Debt Ceiling Looms
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AA
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https://www.nasdaq.com/articles/mt-insider-mt-newswires-day-8-gov-shutdown-still-gridlock-oct-17-debt-ceiling-looms-2013
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nan
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nan
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The gridlock between the Senate and the House of Representatives continues with a lack of progress overnight.
A short-term debt ceiling hike "trial balloon" was put on the table by the White House, but it doesn't appear the House Republicans are likely to budge. Remember that October 17 is the official deadline to raise the debt ceiling.
According to the Washington Post, "leadership in both parties will probably choose to stay the course for the rest of this week."
While investors seem relatively calm (with the majority anticipating an eventual deal), traders are starting to watch the volatility index (VIX), which increased by 16% yesterday.
While the fiscal gridlock in DC is affecting all sectors of the market, those whose success is most tied to the economy have been most impacted.
These include financials such as (JP Morgan - JPM, Goldman Sachs - GS, Bank of America Merrill Lynch - BAC, Citigroup - C, Wells Fargo - WFC, Morgan Stanley - MS, to name a few), Energy (Exxon Mobil - XOM and Occidental Petroleum - OXY) and Defense (Lockheed Martin - LMT and Raytheon - RTN).
Moreover, Fed communications have been somewhat vague. At present, investors believe that the Fed has laid the groundwork to begin tapering later in 2013 or early in 2014 (but as noted by Chairman Ben Bernanke, such a decision would depend on the pace of growth).
According to the Wall Street Journal, "privately, Stein and two other governors, Powell and Duke, were a driving force behind efforts to limit QE's growth."
Moving outside of US, Asia markets were higher for the first time since 9/30 owing to positive reports on retail and housing while European stocks opened higher only to reverse course in morning trading likely due to concerns over the Washington shutdown.
Separately, a number of analyst meetings are scheduled for today including Accenture ( ACN ) and Hain Celestial Group ( HAIN ), while Aloca ( AA ), ADTRAN ( ADTN ), and Yum! Brands ( YUM ) kick off earnings season for Q3 after the market close.
VIX 19.41 0.00 0.00
SPX 15558.0 +0.25 +0.01
DJIA 14854.0 +3.0 +0.02
IXIC 3206.75 +1.745 +0.05
N225 13894.61 +41.29 +0.30
JPM 51.83 0.00 0.00
GS 154.40 +0.15 +0.10
BAC 13.87 +0.06 +0.43
C 48.40 +0.22 +0.46
WFC 40.45 -0.17 -0.42
MS 26.84 0.00 0.00
LMT 124.00 +0.44 +0.46
RYN 75.22 0.00 0.00
XOM 85.90 0.00 0.00
OXY 95.28 0.00 0.00
RTN 74.22 0.00 0.00
LMT 124.00 +0.44 +0.36
FTSE 6388.53 -48.69 -1.10
ACN 72.35 0.00 0.00
HAIN 79.56 0.00 0.00
AA 7.97 0.00 +9,99 +0.00
ADTN 26.89 0.00 0.00
YUM 71.43 0.00 0.00
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Separately, a number of analyst meetings are scheduled for today including Accenture ( ACN ) and Hain Celestial Group ( HAIN ), while Aloca ( AA ), ADTRAN ( ADTN ), and Yum! While investors seem relatively calm (with the majority anticipating an eventual deal), traders are starting to watch the volatility index (VIX), which increased by 16% yesterday. At present, investors believe that the Fed has laid the groundwork to begin tapering later in 2013 or early in 2014 (but as noted by Chairman Ben Bernanke, such a decision would depend on the pace of growth).
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Separately, a number of analyst meetings are scheduled for today including Accenture ( ACN ) and Hain Celestial Group ( HAIN ), while Aloca ( AA ), ADTRAN ( ADTN ), and Yum! The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Separately, a number of analyst meetings are scheduled for today including Accenture ( ACN ) and Hain Celestial Group ( HAIN ), while Aloca ( AA ), ADTRAN ( ADTN ), and Yum! A short-term debt ceiling hike "trial balloon" was put on the table by the White House, but it doesn't appear the House Republicans are likely to budge. At present, investors believe that the Fed has laid the groundwork to begin tapering later in 2013 or early in 2014 (but as noted by Chairman Ben Bernanke, such a decision would depend on the pace of growth).
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Separately, a number of analyst meetings are scheduled for today including Accenture ( ACN ) and Hain Celestial Group ( HAIN ), while Aloca ( AA ), ADTRAN ( ADTN ), and Yum! The gridlock between the Senate and the House of Representatives continues with a lack of progress overnight. A short-term debt ceiling hike "trial balloon" was put on the table by the White House, but it doesn't appear the House Republicans are likely to budge.
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1286.0
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2013-10-08 00:00:00 UTC
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Alcoa Beats EPS on Restructuring - Analyst Blog
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AA
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https://www.nasdaq.com/articles/alcoa-beats-eps-restructuring-analyst-blog-2013-10-08
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nan
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nan
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Alcoa ( AA ) ushered in another quarterly earnings season Tuesday after the bell, posting a big earnings beat on revenues that came in a tad light. A restructuring charge of $0.09 per share brought total EPS in Alcoa's Q3 up to 11 cents -- a 46% positive surprise on the bottom line.
The top line came in at $5.77 billion, down a touch from the Zacks Consensus Estimate of $5.83 billion, which was also the year-ago revenue figure. So the headline will be the EPS home run, but call the whole thing mixed, ultimately.
After-hours traders apparently like what they've seen; following a slightly down day in regular Tuesday trading AA shares are up 14 cents (1.76%) so far after the bell. So back up over $8 per share we go, but we've seen this movie before. It's been several quarters now since AA has cracked $10, and they've been range-bound for quite some time. Alcoa shares are down close to 10% year-to-date.
Restructuring Alcoa's business includes building out the company's value-add businesses, which now make up 57% of its revenues. These value-add businesses include power and propulsion, specialty products, research and development and supply-chain management. The company cited strong operations helping offset weaker aluminum prices in the quarter.
Analysts had provided mixed estimate revisions for Q3 earnings, but nothing too substantial -- they didn't even manage to budge the 6-cent consensus all quarter. For next quarter and next fiscal year (2014), there is currently a downward bias among analysts, with 5 downwardly revised estimates for both over the past 60 days.
Though demand for aluminum on a global scale still looks relatively decent overall, aluminum prices have been coming down noticeably over the past couple quarters. And with the U.S. government now shut down exactly one week, it's not exactly a ringing endorsement for firming up commodity prices going forward, either.
This is also, as everyone knows, Alcoa's first earnings report in more than 50 years where it was not part of the Dow. Apparently, the Industrial Average continues to get a little less "industrial." Further, considering the Zacks Industry Rank for "Mining - Non Ferrous" is a paltry 226 out of 265 industries counted overall, it really should surprise no one that the Dow Jones might be looking for a little more "pop" in their lineup.
And this brings up the rather petty discussion about whether or not Alcoa truly does kick off each new earnings season. I haven't spent much time philosophising about it, but here's my quick take: nobody ever claimed Dick Clark owned New Year's Eve all those years, but once you saw the man's face on your TV, you knew it was time to get the champagne ready.
Well, get the champagne ready now, folks -- and Happy Q3 Earnings Season!
ALCOA INC (AA): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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After-hours traders apparently like what they've seen; following a slightly down day in regular Tuesday trading AA shares are up 14 cents (1.76%) so far after the bell. Alcoa ( AA ) ushered in another quarterly earnings season Tuesday after the bell, posting a big earnings beat on revenues that came in a tad light. It's been several quarters now since AA has cracked $10, and they've been range-bound for quite some time.
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Alcoa ( AA ) ushered in another quarterly earnings season Tuesday after the bell, posting a big earnings beat on revenues that came in a tad light. After-hours traders apparently like what they've seen; following a slightly down day in regular Tuesday trading AA shares are up 14 cents (1.76%) so far after the bell. It's been several quarters now since AA has cracked $10, and they've been range-bound for quite some time.
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Alcoa ( AA ) ushered in another quarterly earnings season Tuesday after the bell, posting a big earnings beat on revenues that came in a tad light. After-hours traders apparently like what they've seen; following a slightly down day in regular Tuesday trading AA shares are up 14 cents (1.76%) so far after the bell. It's been several quarters now since AA has cracked $10, and they've been range-bound for quite some time.
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Alcoa ( AA ) ushered in another quarterly earnings season Tuesday after the bell, posting a big earnings beat on revenues that came in a tad light. After-hours traders apparently like what they've seen; following a slightly down day in regular Tuesday trading AA shares are up 14 cents (1.76%) so far after the bell. It's been several quarters now since AA has cracked $10, and they've been range-bound for quite some time.
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1287.0
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2013-10-08 00:00:00 UTC
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ArcelorMittal Sells Partial Stake In Turkish Steel Company As Part Of Deleveraging
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AA
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https://www.nasdaq.com/articles/arcelormittal-sells-partial-stake-turkish-steel-company-part-deleveraging-2013-10-08
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nan
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nan
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ArcelorMittal ( MT ) announced that it has sold a partial stake of 6.66% in Erdemir, Turkey's largest flat steel producer, to institutional investors. This transaction has brought down ArcelorMittal's stake in Erdemir to 12.08% from 18.74% and generated $267 million in cash. The remaining stake cannot be sold before a lock-up period of 180 days expires.
The stake sale is a part of an ongoing exercise by ArcelorMittal to pare down its heavy debt burden. The slowdown in the global economy, especially the European economy, has hit ArcelorMittal hard due to the protracted weak demand for steel. While demand in the U.S. is picking up gradually, economic activity in Europe continues to be weak.
We have a price estimate for ArcelorMittal of about $16.50 , which is nearly 16% higher than the market price.
See our full analysis for ArcelorMittal
Second Stake Sale In Erdemir
This is the second stake sale ArcelorMittal has carried out in Erdemir. On March 28, 2012, the company had sold approximately 6.25% of its stake in Erdemir to bring down its ownership to 18.7%. The previous stake sale had generated $264 million in cash and ArcelorMittal had agreed to a one year lock-up period before divesting further stake in Erdemir. Therefore, it is likely that once the lock-up period after the latest stake sale expires in six months, ArcelorMittal will divest further shares in Erdemir.
The earnings from Erdemir are accounted for using the equity method of accounting. The total income to ArcelorMittal from associates and joint ventures stood at $194 million in 2012, which is relatively insignificant for such a large company.
Stake Sale Part Of Deleveraging
ArcelorMittal's debt rating has been downgraded to junk status by all major rating agencies such as S&P, Fitch and Moody's, thus raising the company's cost of borrowing for capital intensive businesses. The company has set itself specific debt reduction targets in order to improve its credit rating and is selling off non-core assets, idling excess production capacity and cutting costs across divisions.
ArcelorMittal started the year 2013 with a net debt burden of $21.8 billion and had reduced it to $16.2 billion by the end of the second quarter. It is aiming to reduce its net debt to below $15 billion in the medium term, even though it hasn't specified what the term implies in terms of years. The $15 billion target is the level of debt the company believes it can sustain at any point in the business cycle. The reduction is to be achieved through free cash flow generation and proceeds from M&A transactions. Since September 2011, ArcelorMittal has generated approximately $4.2 billion from asset sales through June 30, 2013.
We have a price estimate for ArcelorMittal of about $16.50 , which will be revised once the third quarter results are declared in November.
Understand on Trefis how a company's products impact its stock price
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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ArcelorMittal ( MT ) announced that it has sold a partial stake of 6.66% in Erdemir, Turkey's largest flat steel producer, to institutional investors. Therefore, it is likely that once the lock-up period after the latest stake sale expires in six months, ArcelorMittal will divest further shares in Erdemir. The company has set itself specific debt reduction targets in order to improve its credit rating and is selling off non-core assets, idling excess production capacity and cutting costs across divisions.
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Stake Sale Part Of Deleveraging ArcelorMittal's debt rating has been downgraded to junk status by all major rating agencies such as S&P, Fitch and Moody's, thus raising the company's cost of borrowing for capital intensive businesses. Since September 2011, ArcelorMittal has generated approximately $4.2 billion from asset sales through June 30, 2013. Understand on Trefis how a company's products impact its stock price The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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See our full analysis for ArcelorMittal Second Stake Sale In Erdemir This is the second stake sale ArcelorMittal has carried out in Erdemir. The previous stake sale had generated $264 million in cash and ArcelorMittal had agreed to a one year lock-up period before divesting further stake in Erdemir. Stake Sale Part Of Deleveraging ArcelorMittal's debt rating has been downgraded to junk status by all major rating agencies such as S&P, Fitch and Moody's, thus raising the company's cost of borrowing for capital intensive businesses.
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This transaction has brought down ArcelorMittal's stake in Erdemir to 12.08% from 18.74% and generated $267 million in cash. The previous stake sale had generated $264 million in cash and ArcelorMittal had agreed to a one year lock-up period before divesting further stake in Erdemir. ArcelorMittal started the year 2013 with a net debt burden of $21.8 billion and had reduced it to $16.2 billion by the end of the second quarter.
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1288.0
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2013-10-08 00:00:00 UTC
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Investors Spooked as Odds of Debt Limit Hike Dwindle
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AA
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https://www.nasdaq.com/articles/investors-spooked-odds-debt-limit-hike-dwindle-2013-10-08
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nan
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nan
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Chinese and Japanese finance ministries released comments overnight, urging the US to avoid defaulting on its debt. China and Japan are very prominent holders of US Treasuries and other government-sponsored debt. Japan's Finance Minister Aso said that the US should deal with the debt ceiling quickly before it affects the global economy. The Japanese Nikkei (INDEXNIKKEI:NI225) has fallen 5.86% in the last five days.
US equities started the day unchanged, but quickly sold off. The S&P 500 (INDEXSP:.INX) finished down 0.89%. Momentum and trend-following stocks were the hardest hit. Biotech stocks and new-age tech stocks were down more than 3%. The tech-based Nasdaq 100 (INDEXNASDAQ:NDX) and small cap Russell 2000 (INDEXRUSSELL:RUT) were both down more than 1.5%. The emerging markets sector was the one bright spot, outperforming the broader developing markets.
The one-month Treasury bill auction today was met with very tepid demand. These bills would expire on November 7; their repayment could be subject to delays if the debt ceiling is not raised. Buyers paid a discount rate of 35 basis points. This compares to 2-year notes that yield 0.38% and 1-month LIBOR of 0.17%. The reason behind the sell-off is that investors are concerned that they may not be able to extract their cash if the Treasury delayed interest or principal payments on its obligations.
President Obama gave a press conference in the early afternoon. He stated that he would be open to a short-term extension of the debt ceiling while Congress worked out its long-term differences. This comment is no different from those he has made over the last two weeks.
Alcoa ( AA ) began the the third-quarter earnings season with the first major large-cap company's report. Alcoa beat on both the top and bottom line and reaffirmed its full-year forecast for global aluminum demand. Yum Brands ( YUM ) fell 8% after China comparable sales fell more than forecast and the company lowered guidance for full-year earnings.
Tomorrow's Financial Outlook
The minutes from the FOMC's September meeting will be released tomorrow afternoon at 2:00 p.m. ET. At the meeting, Fed officials chose not to reduce asset purchases, citing tightening financial conditions and a lack of improvement in the economic outlook. Since the meeting, Fed officials' speeches have shown increasing disagreement over the forward path of monetary policy.
The report on August wholesale inventories will not be released due to the government's shutdown.
Industrial production reports from Germany and the UK will be the main market-moving events tomorrow before the US market opens. Other releases include Japanese machine tool orders and the UK's August trade balance. ECB President Mario Draghi will speak at his alma mater MIT after market close.
Costco ( COST ), Family Dollar ( FDO ), and Fastenal ( FAST ) are scheduled to report earnings.
Twitter: @Minyanville
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Alcoa ( AA ) began the the third-quarter earnings season with the first major large-cap company's report. Japan's Finance Minister Aso said that the US should deal with the debt ceiling quickly before it affects the global economy. The reason behind the sell-off is that investors are concerned that they may not be able to extract their cash if the Treasury delayed interest or principal payments on its obligations.
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Alcoa ( AA ) began the the third-quarter earnings season with the first major large-cap company's report. Yum Brands ( YUM ) fell 8% after China comparable sales fell more than forecast and the company lowered guidance for full-year earnings. Twitter: @Minyanville The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Alcoa ( AA ) began the the third-quarter earnings season with the first major large-cap company's report. Chinese and Japanese finance ministries released comments overnight, urging the US to avoid defaulting on its debt. Yum Brands ( YUM ) fell 8% after China comparable sales fell more than forecast and the company lowered guidance for full-year earnings.
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Alcoa ( AA ) began the the third-quarter earnings season with the first major large-cap company's report. Chinese and Japanese finance ministries released comments overnight, urging the US to avoid defaulting on its debt. Japan's Finance Minister Aso said that the US should deal with the debt ceiling quickly before it affects the global economy.
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1289.0
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2013-10-07 00:00:00 UTC
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Stock Market News for October 7, 2013 - Market News
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AA
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https://www.nasdaq.com/articles/stock-market-news-for-october-7-2013-market-news-2013-10-07
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nan
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nan
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Benchmarks posted modest gains of Friday even as the partial government shutdown continued. Friday's gains were primarily driven by hopes that lawmakers will conclude a deal on the ongoing budget issue and on increasing the country's debt limit. Despite Friday's gains, the Dow Jones and the S&P 500 ended in the red. Nonetheless, the Nasdaq finished in the green for the fifth week in a row. Meanwhile, the third quarter earnings season is slated to kick off this week. Due to the government shutdown, the widely awaited nonfarm payrolls report was not released on Friday. All ten sectors of the S&P 500 industry groups finished in the green, led by materials and energy stocks.
For a look at the issues currently facing the markets, make sure to read today's Ahead of Wall Street article
The Dow Jones Industrial Average (DJI) gained 0.5% to close the day at 15,072.58. The S&P 500 added 0.7% to finish Friday's trading session at 1,690.50. The tech-laden Nasdaq Composite Index climbed 0.9% to end at 3,807.75. The fear-gauge CBOE Volatility Index (VIX) declined 5.3% to settle at 16.74. Consolidated volumes on the New York Stock Exchange, American Stock Exchange and Nasdaq were roughly 5.2 billion shares, considerably lower than 2013's average of 6.1 billion shares. Advancing stocks outnumbered the decliners. For 64% shares that advanced, only 33% declined.
The Dow slipped 1.2%, the S&P 500 declined 0.1% and the Nasdaq rose 0.7%, over the week. Weakness in the S&P 500 and the blue-chip index was primarily due to political altercations over the ongoing budget issue. Investors are not only concerned about the government shutdown, but are even more worried about the country's debt ceiling deadline. If lawmakers fail to reach a deal on the budget within the next few days, they might miss the debt ceiling deadline.
Stocks kicked off Friday's trading session on a positive note and traded higher for most of the trading session. But stocks trimmed some gains after Speaker John Boehner said the Congress will not vote on a spending bill without conditions to end the government shutdown. He also demanded spending cuts to raise the government's debt limit. Meanwhile, President Barack Obama cancelled his trip to Indonesia. According to the White House: "The president made this decision based on the difficulty in moving forward with foreign travel in the face of a shutdown, and his determination to continue pressing his case that Republicans should immediately allow a vote to reopen the government."
IMF chief Christine Lagarde said the global economy will be affected if U.S lawmakers fail to raise the government borrowing limit by October 17. Lagarde added that the U.S. growth rate can fall below 2% in 2013. Due to the government shutdown nonfarm, payroll numbers were not released on Friday. According to the consensus estimate, nonfarm payroll numbers were expected to increase by 183,000 from the previous month's figure of 169,000.
The third quarter earnings season will unofficially begin this week. Major companies like Yum! Brands, Inc. (NYSE: YUM ), Alcoa Inc (NYSE: AA ) are scheduled to post quarterly results on Friday. Financial bellwether JPMorgan Chase & Co (NYSE: JPM ) and Wells Fargo & Co (NYSE: WFC ) are slated to report results on Friday.
The materials sector was the biggest gainer among the S&P 500 industry groups and the Materials Select Sector SPDR (XLB) gained 1.5%. Stocks such as Monsanto Company (NYSE: MON ), Air Products & Chemicals, Inc. (NYSE: APD ), The Dow Chemical Company (NYSE: DOW ), Sherwin-Williams Company (NYSE: SHW ) and Mosaic Co (NYSE: MOS ) added 0.5%, 0.8%, 3.2%, 2.0% and 1.8%, respectively.
The energy sector also had a good day and the Energy Select Sector SPDR (XLE) gained 1.0%. Stocks such as Exxon Mobil Corporation (NYSE: XOM ), Hess Corp. (NYSE: HES ), ConocoPhillips (NYSE: COP ), Murphy Oil Corporation (NYSE: MUR ) and Marathon Oil Corporation (NYSE: MRO ) increased 1.0%, 0.3%, 1.1%, 1.8% and 2.1%, respectively.
ALCOA INC (AA): Free Stock Analysis Report
AIR PRODS & CHE (APD): Free Stock Analysis Report
CONOCOPHILLIPS (COP): Free Stock Analysis Report
DOW CHEMICAL (DOW): Free Stock Analysis Report
HESS CORP (HES): Free Stock Analysis Report
JPMORGAN CHASE (JPM): Free Stock Analysis Report
MONSANTO CO-NEW (MON): Free Stock Analysis Report
MOSAIC CO/THE (MOS): Free Stock Analysis Report
MARATHON OIL CP (MRO): Free Stock Analysis Report
MURPHY OIL (MUR): Free Stock Analysis Report
SHERWIN WILLIAM (SHW): Free Stock Analysis Report
WELLS FARGO-NEW (WFC): Free Stock Analysis Report
EXXON MOBIL CRP (XOM): Free Stock Analysis Report
YUM! BRANDS INC (YUM): Free Stock Analysis Report
To read this article on Zacks.com click here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Brands, Inc. (NYSE: YUM ), Alcoa Inc (NYSE: AA ) are scheduled to post quarterly results on Friday. ALCOA INC (AA): Free Stock Analysis Report AIR PRODS & CHE (APD): Free Stock Analysis Report CONOCOPHILLIPS (COP): Free Stock Analysis Report DOW CHEMICAL (DOW): Free Stock Analysis Report HESS CORP (HES): Free Stock Analysis Report JPMORGAN CHASE (JPM): Free Stock Analysis Report MONSANTO CO-NEW (MON): Free Stock Analysis Report MOSAIC CO/THE (MOS): Free Stock Analysis Report MARATHON OIL CP (MRO): Free Stock Analysis Report MURPHY OIL (MUR): Free Stock Analysis Report SHERWIN WILLIAM (SHW): Free Stock Analysis Report WELLS FARGO-NEW (WFC): Free Stock Analysis Report EXXON MOBIL CRP (XOM): Free Stock Analysis Report YUM! Friday's gains were primarily driven by hopes that lawmakers will conclude a deal on the ongoing budget issue and on increasing the country's debt limit.
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ALCOA INC (AA): Free Stock Analysis Report AIR PRODS & CHE (APD): Free Stock Analysis Report CONOCOPHILLIPS (COP): Free Stock Analysis Report DOW CHEMICAL (DOW): Free Stock Analysis Report HESS CORP (HES): Free Stock Analysis Report JPMORGAN CHASE (JPM): Free Stock Analysis Report MONSANTO CO-NEW (MON): Free Stock Analysis Report MOSAIC CO/THE (MOS): Free Stock Analysis Report MARATHON OIL CP (MRO): Free Stock Analysis Report MURPHY OIL (MUR): Free Stock Analysis Report SHERWIN WILLIAM (SHW): Free Stock Analysis Report WELLS FARGO-NEW (WFC): Free Stock Analysis Report EXXON MOBIL CRP (XOM): Free Stock Analysis Report YUM! Brands, Inc. (NYSE: YUM ), Alcoa Inc (NYSE: AA ) are scheduled to post quarterly results on Friday. Stocks such as Monsanto Company (NYSE: MON ), Air Products & Chemicals, Inc. (NYSE: APD ), The Dow Chemical Company (NYSE: DOW ), Sherwin-Williams Company (NYSE: SHW ) and Mosaic Co (NYSE: MOS ) added 0.5%, 0.8%, 3.2%, 2.0% and 1.8%, respectively.
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ALCOA INC (AA): Free Stock Analysis Report AIR PRODS & CHE (APD): Free Stock Analysis Report CONOCOPHILLIPS (COP): Free Stock Analysis Report DOW CHEMICAL (DOW): Free Stock Analysis Report HESS CORP (HES): Free Stock Analysis Report JPMORGAN CHASE (JPM): Free Stock Analysis Report MONSANTO CO-NEW (MON): Free Stock Analysis Report MOSAIC CO/THE (MOS): Free Stock Analysis Report MARATHON OIL CP (MRO): Free Stock Analysis Report MURPHY OIL (MUR): Free Stock Analysis Report SHERWIN WILLIAM (SHW): Free Stock Analysis Report WELLS FARGO-NEW (WFC): Free Stock Analysis Report EXXON MOBIL CRP (XOM): Free Stock Analysis Report YUM! Brands, Inc. (NYSE: YUM ), Alcoa Inc (NYSE: AA ) are scheduled to post quarterly results on Friday. Stocks such as Monsanto Company (NYSE: MON ), Air Products & Chemicals, Inc. (NYSE: APD ), The Dow Chemical Company (NYSE: DOW ), Sherwin-Williams Company (NYSE: SHW ) and Mosaic Co (NYSE: MOS ) added 0.5%, 0.8%, 3.2%, 2.0% and 1.8%, respectively.
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Brands, Inc. (NYSE: YUM ), Alcoa Inc (NYSE: AA ) are scheduled to post quarterly results on Friday. ALCOA INC (AA): Free Stock Analysis Report AIR PRODS & CHE (APD): Free Stock Analysis Report CONOCOPHILLIPS (COP): Free Stock Analysis Report DOW CHEMICAL (DOW): Free Stock Analysis Report HESS CORP (HES): Free Stock Analysis Report JPMORGAN CHASE (JPM): Free Stock Analysis Report MONSANTO CO-NEW (MON): Free Stock Analysis Report MOSAIC CO/THE (MOS): Free Stock Analysis Report MARATHON OIL CP (MRO): Free Stock Analysis Report MURPHY OIL (MUR): Free Stock Analysis Report SHERWIN WILLIAM (SHW): Free Stock Analysis Report WELLS FARGO-NEW (WFC): Free Stock Analysis Report EXXON MOBIL CRP (XOM): Free Stock Analysis Report YUM! Benchmarks posted modest gains of Friday even as the partial government shutdown continued.
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1290.0
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2013-10-07 00:00:00 UTC
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Is the Market Finally Taking Notice? - Ahead of Wall Street
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AA
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https://www.nasdaq.com/articles/market-finally-taking-notice-ahead-wall-street-2013-10-07
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nan
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nan
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Monday, October 7, 2013
Stocks haven't reacted much to the Washington discord thus far, hoping that sanity will eventually return at the last minute. That has been the norm in the recent past. In all recent political fights - the Fiscal Cliff, the budget sequester and the 2011 debt ceiling fight - politicians took the country to the edge before stepping back.
But the markets are starting to get worried, with the shutdown now in its second week and the October 17th debt ceiling deadline fast approaching. The protagonists came across as stubbornly standing their ground in the Sunday talk shows. Disconcertingly, we didn't get the impression that any negotiations were or are going on behind the scenes. The Speaker is apparently waiting for a call, but the other side doesn't see the point of making that call. Let's hope there are still enough centrists in the political system to bridge the divide and bring the two sides to the table.
The DC Drama has sucked the oxygen from everything else, with the shutdown robbing us of economic data. We didn't get the jobs report last week and this week's Retail Sales report wouldn't come through either. The key report that we will get this week is the minutes of the Fed's last meeting, when they surprised everyone by not Tapering.
The minutes will give us a good sense of how close the no-Taper call actually was, which will help set expectations about the Fed's coming meeting. The odds of a Taper announcement in this month's Fed meeting are low now, if for no other reason than the paucity of any data that the Fed can rely upon in making that call. That's perhaps the only thing positive about the current shutdown - the absence of data could result in further Taper delay.
The 2013 Q3 earnings season gets underway this week, with reports from Alcoa ( AA ) and Yum Brands ( YUM ) on Tuesday after the close and J.P. Morgan ( JPM ) and Wells Fargo ( WFC ) on Friday. Hopefully, the shutdown will be behind us before the earnings reporting season gets into high gear next week.
Expectations for earnings growth in Q3 remain low, with total earnings for the S&P 500 expected to be up +1.1% from the same period last year. As has been happening repeatedly in recent quarters, estimates came down sharply as the quarter unfolded. The current +1.1% growth in Q3 is down from +5.1% in early July, with negative guidance from management teams the primary driver of estimate cuts. This has become a recurring theme for more than a year now, with management teams overwhelmingly guiding lower for the following quarter.
Given the elevated expectations for Q4 and beyond (earnings for the S&P 500 are expected to be up almost +9%), it will be interesting to see if we will get a repeat performance or something new this time around. I expect more of the same, with negative guidance prompting estimate cuts for Q4 and beyond.
The market hasn't cared much thus far about negative estimate cuts. But will it finally start paying attention? We will find out in the next few weeks.
Sheraz Mian
Director of Research
ALCOA INC (AA): Free Stock Analysis Report
JPMORGAN CHASE (JPM): Free Stock Analysis Report
WELLS FARGO-NEW (WFC): Free Stock Analysis Report
YUM! BRANDS INC (YUM): Free Stock Analysis Report
To read this article on Zacks.com click here.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The 2013 Q3 earnings season gets underway this week, with reports from Alcoa ( AA ) and Yum Brands ( YUM ) on Tuesday after the close and J.P. Morgan ( JPM ) and Wells Fargo ( WFC ) on Friday. Sheraz Mian Director of Research ALCOA INC (AA): Free Stock Analysis Report JPMORGAN CHASE (JPM): Free Stock Analysis Report WELLS FARGO-NEW (WFC): Free Stock Analysis Report YUM! Monday, October 7, 2013 Stocks haven't reacted much to the Washington discord thus far, hoping that sanity will eventually return at the last minute.
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The 2013 Q3 earnings season gets underway this week, with reports from Alcoa ( AA ) and Yum Brands ( YUM ) on Tuesday after the close and J.P. Morgan ( JPM ) and Wells Fargo ( WFC ) on Friday. Sheraz Mian Director of Research ALCOA INC (AA): Free Stock Analysis Report JPMORGAN CHASE (JPM): Free Stock Analysis Report WELLS FARGO-NEW (WFC): Free Stock Analysis Report YUM! BRANDS INC (YUM): Free Stock Analysis Report To read this article on Zacks.com click here.
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The 2013 Q3 earnings season gets underway this week, with reports from Alcoa ( AA ) and Yum Brands ( YUM ) on Tuesday after the close and J.P. Morgan ( JPM ) and Wells Fargo ( WFC ) on Friday. Sheraz Mian Director of Research ALCOA INC (AA): Free Stock Analysis Report JPMORGAN CHASE (JPM): Free Stock Analysis Report WELLS FARGO-NEW (WFC): Free Stock Analysis Report YUM! We didn't get the jobs report last week and this week's Retail Sales report wouldn't come through either.
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Sheraz Mian Director of Research ALCOA INC (AA): Free Stock Analysis Report JPMORGAN CHASE (JPM): Free Stock Analysis Report WELLS FARGO-NEW (WFC): Free Stock Analysis Report YUM! The 2013 Q3 earnings season gets underway this week, with reports from Alcoa ( AA ) and Yum Brands ( YUM ) on Tuesday after the close and J.P. Morgan ( JPM ) and Wells Fargo ( WFC ) on Friday. But the markets are starting to get worried, with the shutdown now in its second week and the October 17th debt ceiling deadline fast approaching.
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1291.0
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2013-10-07 00:00:00 UTC
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Debt Ceiling Negotiations Continue to Frustrate Traders
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AA
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https://www.nasdaq.com/articles/debt-ceiling-negotiations-continue-frustrate-traders-2013-10-07
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nan
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nan
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Asian markets were down in sympathy with US equity futures overnight. The Japanese Nikkei (INDEXNIKKEI:NI225) was the worst performer, falling 1.22%. The World Bank downgraded its Developing East Asia growth forecast to 7.1% for 2013 from its prior forecast of 7.8% in April. Most troubling was the downgrade of China's growth rate; the current year forecasts were lowered to 7.5% from the prior forecast of 8.3% in April.
S&P 500 (INDEXSP:.INX) futures reached an intraday bottom of -18.50 points near the opening and then shot higher for the rest of the day. It's worth noting that the trade lower overnight was on abnormally light volume. Today's total equity volume was at 11.12 billion shares vs. the 10.58 billion 15-day average. Consumer discretionary, financial, and material sector stocks were the worst performers today; all were down more than 1%. Total exchange breadth remained solidly negative at 4:1 throughout the day.
The negotiations over the debt ceiling continued to dominate intraday trading. In the daily White House press briefing, Press Secretary John Carney stated that President Obama backed a proposed Senate vote for a one-year debt ceiling resolution. If need be, the president would accept raising the debt ceiling for less than a year. Over the weekend, House Speaker John Boehner said that he did not have the support for a bill that raised the debt ceiling without other concessions.
Over the weekend, news surfaced that BlackBerry ( BBRY ) was being approached by a number of interested parties for a competitive takeover bid. Potential suitors include Cisco ( CSCO ), Google ( GOOG ), and SAP ( SAP ). BlackBerry finished 4% higher today.
Tomorrow's Financial Outlook
Economic data releases are still on hold while the government remains shut down. August's trade balance will be delayed until a later date. Other economic data due out includes the NFIB small business optimism index and the Investor's Business Daily economic optimism index.
Global market-moving data will be particularly robust tomorrow. On the calendar are China's services PMI, Switzerland's unemployment rate, Germany's trade balance, Switzerland's retail sales, and Germany's factory orders. The data release that has the most potential to move markets is Germany's factory orders at 5:00 a.m ET. Economists estimate that orders will rise 1.1% month-over-month in August.
The third-quarter earnings season will get started with Alcoa ( AA ) and Yum Brands (YUM).
Disclosure: Minyanville Studios, a division of Minyanville Media, has a business relationship with BlackBerry.
Twitter: @Minyanville
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The third-quarter earnings season will get started with Alcoa ( AA ) and Yum Brands (YUM). S&P 500 (INDEXSP:.INX) futures reached an intraday bottom of -18.50 points near the opening and then shot higher for the rest of the day. Over the weekend, House Speaker John Boehner said that he did not have the support for a bill that raised the debt ceiling without other concessions.
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The third-quarter earnings season will get started with Alcoa ( AA ) and Yum Brands (YUM). Most troubling was the downgrade of China's growth rate; the current year forecasts were lowered to 7.5% from the prior forecast of 8.3% in April. Other economic data due out includes the NFIB small business optimism index and the Investor's Business Daily economic optimism index.
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The third-quarter earnings season will get started with Alcoa ( AA ) and Yum Brands (YUM). In the daily White House press briefing, Press Secretary John Carney stated that President Obama backed a proposed Senate vote for a one-year debt ceiling resolution. Other economic data due out includes the NFIB small business optimism index and the Investor's Business Daily economic optimism index.
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The third-quarter earnings season will get started with Alcoa ( AA ) and Yum Brands (YUM). Asian markets were down in sympathy with US equity futures overnight. BlackBerry finished 4% higher today.
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1292.0
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2013-10-07 00:00:00 UTC
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Stocks Dragged Lower by Continued Uncertainty
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AA
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https://www.nasdaq.com/articles/stocks-dragged-lower-continued-uncertainty-2013-10-07
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nan
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nan
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"The uncertainty from Washington continues to drag on this market," noted Schaeffer's Senior Equity Analyst Joe Bell, CMT. "With each passing day, investors are becoming more and more frustrated with the lack of clarity, and there seems to be an increasing fear that this could snowball into something bigger. The debt ceiling deadline is also looming over the market and until we get some solutions, many participants just don't want to put a lot of money to work." As the weekend failed to bring any answers, the Dow Jones Industrial Average (DJI) gapped lower out of the gate and closed solidly in the red.
Continue reading for more on today's market, including :
Our CEO and founder Bernie Schaeffer checks out the charts and finds another reason why the Dow 15,000 level is important to watch.
Schaeffer's Senior Trading Analyst Bryan Sapp summarizes the market's "volatile chop" in light of continued political gridlock.
Alcoa ( AA ) unofficially kicks off earnings season tomorrow night, and here's how options players are betting .
plus...
Economic experts offer debt ceiling predictions, the Fed releases consumer credit data, and Facebook ( FB ) option bulls stay active.
The Dow Jones Industrial Average (DJI - 14,936.24) moved sharply lower right out of the gate, and couldn't muster much of a recovery throughout the session, settling with a loss of 136.3 points, or 0.9%. After retaking the 15,000 level on Friday, the blue-chip index flirted with the millennium mark for much of the session before relinquishing control. Just three Dow stocks managed to close higher, led by AT&T ( T ), which added 0.7%. The 27 decliners were paced by Visa's ( V ) 2.2% drop.
The S&P 500 Index (SPX - 1,676.12) also fell, dropping 14.4 points, or 0.9%, on the day, but closing north of its 80-day moving average. The Nasdaq Composite (COMP - 3,770.38) followed suit, surrendering 37.4 points, or 1%.
Against this backdrop, the CBOE Market Volatility Index (VIX - 19.41) surged to its highest close since late June, adding 2.7 points, or 16%, to close at its intraday peak.
A Trader's Take :
"Despite the negative tone out of Washington, the S&P 500 Index (SPX) and Russell 2000 Index (RUT) seem to remain in a period of consolidation," observed Bell. "In addition, earnings season is set to start this month and expectations once again seem to be relatively low."
3 Things to Know About Today's Market :
Raymond McDaniel, CEO of credit rating agency Moody's, tried to calm increased concerns about the unproductive budget negotiations, noting it is "extremely unlikely" that the government will default on its payments. Taking the more panicked side of the argument, U.S. Treasury Secretary Jack Lew warned that the U.S. is nearing a scenario of "not having cash to pay [its] bills." The nation's borrowing limit, or debt ceiling, is scheduled to max out next Thursday, Oct. 17. (CNBC)
The Federal Reserve reported that total consumer borrowing rose by $13.6 billion in August, exceeding economists' estimates. Non-revolving credit (such as auto loans and student loans) climbed $14.5 billion, while revolving credit (mostly credit-card use) declined $883 million, marking the reading's third straight monthly decline. (Bloomberg)
BlackBerry ( BBRY ) came back into focus today, as a number of tech giants -- including Google (GOOG), Cisco Systems (CSCO), and Samsung -- were introduced as possible suitors to buy all or part of the smartphone maker. These offers, if valid, would be considered as alternatives to Fairfax Financial's standing $4.7 billion offer to take BBRY private. (CNNMoney)
5 Stocks We Were Watching Today :
Options traders have turned bearish on Micron Technology (MU) ahead of the semiconductor concern's turn in the earnings confessional later this week.
Bullish spread buyers continued to target new all-time highs in Facebook ( FB ) shares.
Apple Inc. (AAPL) earned an upgrade and a price-target hike ahead of today's open.
J.C. Penney (JCP) hit another three-decade low but saw additional bullish options strategies at work.
Chesapeake Energy (CHK) -- a notable outperformer on the charts -- was targeted by long-term put buyers.
For a look at today's options movers and commodities activity, head to page 2.
Commodities :
Oil futures ended in the red once again, as tropical-storm concerns diminished over the weekend. November-dated oil futures logged a drop of 81 cents, or 0.8%, to settle the day at $103.03 per barrel.
Gold futures, however, rebounded higher after two consecutive losses, capturing some safe-haven appeal as the government shutdown persisted. By the closing bell, December gold futures had gained $15.20, or 1.2%, to close at $1,325.10 per ounce.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
All Rights Reserved. Unauthorized reproduction of any SIR publication is strictly prohibited.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Alcoa ( AA ) unofficially kicks off earnings season tomorrow night, and here's how options players are betting . Apple Inc. (AAPL) earned an upgrade and a price-target hike ahead of today's open. Continue reading for more on today's market, including : Our CEO and founder Bernie Schaeffer checks out the charts and finds another reason why the Dow 15,000 level is important to watch.
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Alcoa ( AA ) unofficially kicks off earnings season tomorrow night, and here's how options players are betting . Apple Inc. (AAPL) earned an upgrade and a price-target hike ahead of today's open. "The uncertainty from Washington continues to drag on this market," noted Schaeffer's Senior Equity Analyst Joe Bell, CMT.
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Alcoa ( AA ) unofficially kicks off earnings season tomorrow night, and here's how options players are betting . Apple Inc. (AAPL) earned an upgrade and a price-target hike ahead of today's open. Continue reading for more on today's market, including : Our CEO and founder Bernie Schaeffer checks out the charts and finds another reason why the Dow 15,000 level is important to watch.
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Alcoa ( AA ) unofficially kicks off earnings season tomorrow night, and here's how options players are betting . Apple Inc. (AAPL) earned an upgrade and a price-target hike ahead of today's open. plus... Economic experts offer debt ceiling predictions, the Fed releases consumer credit data, and Facebook ( FB ) option bulls stay active.
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1293.0
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2013-10-04 00:00:00 UTC
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Trading Radar: Prepare for Third Quarter Earnings Next Week!
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AA
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https://www.nasdaq.com/articles/trading-radar-prepare-third-quarter-earnings-next-week-2013-10-04
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nan
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nan
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The market's action this week was dominated by headlines about the government shutdown and the impending debt ceiling debate. That is not likely to change next week. Into the weekend, Republicans will likely take a softer approach to funding certain parts of the government. Thus far, much of the blame for the failure to pass a buddget has been placed on the GOP.
Retail sales are due out on Friday. During September, auto sales, gasoline prices, and same-store sales all declined significantly, which should lead to a drop in the monthly sales figures. The one upside? New iPhones ( AAPL ) was launched during the month and these sales could balance out some of the negativity. Producer prices are due out on Thursday and forecast to fall to a very low 0.6% year-over-year rate from a 1.4% gain in August.
The Treasury will auction 3-, 10-, and 30-year bonds next week. Treasury traders are on edge because nonfarm payrolls were not released in the prior week and it could upset the apple cart if they are released the same day as an auction in the coming week. This would create more volatility than normal as positions would need to be squared.
Once the government reopens, the payroll report should be able to be released within the following two days.
The minutes from the FOMC's September meeting will be released on Wednesday. Recent speeches by FOMC members have showed more disagreement among committee members than normal. The decision to not taper was largely influenced by the results of September's Beige Book. Reports from lenders through July and August showed that consumer lending had slowed precipitously, forcing the FOMC to take a more aggressive approach to calming interest rates.
Earnings season will finally get going on Tuesday. Is Alcoa's ( AA ) earnings report as significant as it once was now that it has been removed from the Dow Jones Industrial (INDEXDJX:.DJI)? Regardless, third quarter earnings will be kicked off by consumer-oriented Family Dollar ( FDO ) and Costco ( COST ). Finishing off the week are banks JPMorgan ( JPM ) and Wells Fargo (WFC). Fixed income trading slowed dramatically during the third quarter according to news reports from Jefferies, Deutsche Bank (DB), Citigroup (C), and UBS (UBS). This likely weighed negatively on JPMorgan in particular. In addition, Wells Fargo earnings were likely negatively impacted by a sharp slowdown in mortgage lending during the quarter. Hopefully the decline in activity during the quarter is balanced out by the large drop in mortgage rates during the last two weeks
Monday, October 7
US Economics (Time Zone: EDT)
3:00 Consumer Credit - consensus $12b, prior $10.437b
11:00 Fed to purchase $2.75b-$3.5b notes in 7 to 10-year range
11:30 Treasury selling $35b 3-month bills, $30b 6-month bills
Global Economics (Time Zone: GMT)
05:00 JPY Leading Index
08:30 EUR Eurozone Sentix Investor Confidence
23:50 JPY Trade Balance
Earnings
No major earnings
Tuesday, October 8
US Economics (Time Zone: EDT)
07:30 NFIB Small Business Optimism - consensus 94, prior 94
08:30 Trade Balance - consensus -$39.3b, prior -$39.1b
10:00 IBD/TIPP Economic Optimism - consensus 44.5, prior 46.0
10:00 JOLTs Job Openings - prior 3689
11:00 Fed to purchase $1.25b-$1.75b bonds in 23 to 30-year range
11:30 Treasury selling 4-week bills
1:00 Treasury selling $30b 3-year notes
Fedspeak
12:25pm Pianalto speaks on economy in Pittsburgh
12:30pm Plosser speaks on economy and monetary policy in Pennsylvania
Global Economics (Time Zone: GMT)
00:30 AUD NAB Business Conditions
01:45 CNY HSBC/Markit Services PMI
05:45 CHF Unemployment Rate
06:00 EUR German Trade Balance
07:15 CHF CPI
07:15 CHF Retail Sales
10:00 EUR German Factory Orders
12:15 CAD Housing Starts
Earnings
After:
Alcoa ( AA )
Yum! Brands (YUM)
Wednesday, October 9
US Economics (Time Zone: EDT)
07:00 MBA Mortgage Applications
10:00 Wholesale Inventories MoM - consensus 0.3%, prior 0.1%
2:00 FOMC Minutes from Sep 18 meeting
1:00 Treasury selling $21b 10-year notes (2 nd reopening)
Fedspeak
12:00pm Evans speaking on monetary policy in Washington
Global Economics (Time Zone: GMT)
06:00 JPY Machine Tool Orders
08:30 GBP Industrial and Manufacturing Production
08:30 GBP Trade Balance
10:00 EUR German Industrial Production
14:00 GBP NIESR Sep GDP Estimate
5:30am Germany to sells EU4b 5-year notes
10:00pm Draghi speaking at MIT
Earnings
Before:
Family Dollar ( FDO )
Costco ( COST )
Fastenal (FAST)
Thursday, October 10
US Economics (Time Zone: EDT)
08:30 Initial Jobless Claims - consensus 310k, prior 308k
08:30 Continuing Claims - consensus 2863K, prior 2925K
08:30 Import Price Index MoM - consensus 0.2%, prior 0.0% - prior YoY rate -0.4%
11:00 Fed to purchase $1b-$1.5b TIPS in 5 to 30-year range
1:00 Treasury selling $13b 30-year bonds (2 nd reopening)
Fedspeak
9:45am Bullard speaks on monetary policy in St. Louis
1:45pm Tarullo speaks on regulation in Washington
2:30pm Williams speaks on economy in Idaho
Global Economics (Time Zone: GMT)
JPY Japanese Investors Buying of Foreign Stocks/Bonds
CNY New Yuan Loans
00:30 AUD Employment Change
05:00 JPY Consumer Confidence
11:00 GBP Bank of England Rate Decision
12:30 CAD Home Price Index
11:45am BoJ Kuroda speaking at Council on Foreign Relations in NY
4:00pm BoJ Kuroda speaking at Bretton Woods event in Washington
4:20pm Draghi speaking in NY
Earnings
Before:
Lindsay (LNN)
After:
Micron Tech (MU)
Safeway (SWY)
Friday, October 11
US Economics (Time Zone: EDT)
08:30 Producer Price Index YoY - consensus 0.6%, prior 1.4%
08:30 PPI Ex Food & Energy YoY - consensus 1.2%, prior 1.1%
08:30 Retail Sales - consensus 0.1%, prior 0.2%
08:30 Retail Sales ex Auto - consensus 0.4%, prior 0.1%
08:30 Retail Sales ex Auto & Gas - consensus 0.5%, prior 0.1%
09:55 University of Michigan Confidence Statement - consensus 76.0, prior 77.5
10:00 Business Inventories - consensus 0.3%, prior 0.4%
11:00 Fed to purchase $1.25b-$1.75b bonds in 23 to 30-year range
Fedspeak
11:00am Powell speaks on monetary policy in Washington
Global Economics (Time Zone: GMT)
06:00 EUR German CPI (final estimate)
12:30 CAD Employment Change
Earnings
Before:
JPMorgan ( JPM )
Wells Fargo (WFC)
Twitter: @MichaelSedacca
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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New iPhones ( AAPL ) was launched during the month and these sales could balance out some of the negativity. Is Alcoa's ( AA ) earnings report as significant as it once was now that it has been removed from the Dow Jones Industrial (INDEXDJX:.DJI)? 07:15 CHF Retail Sales 10:00 EUR German Factory Orders 12:15 CAD Housing Starts Earnings After: Alcoa ( AA ) Yum!
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07:15 CHF Retail Sales 10:00 EUR German Factory Orders 12:15 CAD Housing Starts Earnings After: Alcoa ( AA ) Yum! New iPhones ( AAPL ) was launched during the month and these sales could balance out some of the negativity. Is Alcoa's ( AA ) earnings report as significant as it once was now that it has been removed from the Dow Jones Industrial (INDEXDJX:.DJI)?
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New iPhones ( AAPL ) was launched during the month and these sales could balance out some of the negativity. Is Alcoa's ( AA ) earnings report as significant as it once was now that it has been removed from the Dow Jones Industrial (INDEXDJX:.DJI)? 07:15 CHF Retail Sales 10:00 EUR German Factory Orders 12:15 CAD Housing Starts Earnings After: Alcoa ( AA ) Yum!
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07:15 CHF Retail Sales 10:00 EUR German Factory Orders 12:15 CAD Housing Starts Earnings After: Alcoa ( AA ) Yum! New iPhones ( AAPL ) was launched during the month and these sales could balance out some of the negativity. Is Alcoa's ( AA ) earnings report as significant as it once was now that it has been removed from the Dow Jones Industrial (INDEXDJX:.DJI)?
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1294.0
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2013-10-04 00:00:00 UTC
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Shutdown & the Q3 Earnings Season - Earnings Preview
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AA
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https://www.nasdaq.com/articles/shutdown-q3-earnings-season-earnings-preview-2013-10-04
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nan
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nan
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Shutdown & the Q3 Earnings Season
We didn't get the September jobs report thanks to the government shutdown and the impasse promises to steal the limelight from the 2013 Q3 earnings season. With the October 17th debt-ceiling deadline fast approaching, we can only hope that we move past these hurdles without further damage.
The Q3 reports have been trickling in, with results from 21 S&P 500 companies out already. All of the reports thus far are from companies with fiscal quarters ending in August, which we count as part of the Q3 reporting cycle. Most of the companies reporting going forward, including Alcoa ( AA ) that reports October 8th after the close, are on the calendar quarter. In total, we have 33 companies reporting results this week, including 10 S&P 500 members. J.P. Morgan ( JPM ), Wells Fargo ( WFC ), Costco ( COST ), and Yum Brands ( YUM ) are some of the notable companies reporting results this week.
We have had a few strong earnings reports already, particularly from Nike ( NKE ), FedEx ( FDX ), and AutoZone ( AZO ), but the overall trend at this admittedly very early stage is mixed. The earnings and revenue growth rates for the 21 companies are tracking better than what these same companies in Q2 and the 4-quarter average, though the beat ratios (percentage of companies coming ahead of expectations) are a bit weaker.
This week's results will provide better color on underlying trends, with results from companies like Costco ( COST ), Yum Brands ( YUM ), Family Dollar ( FDO ) and Safeway ( SWY ) giving us a sense of the consumer economy. Results from the big banks aren't arriving till Friday, but they will set the stage for the rest of the group the following week. Finance was instrumental in keeping last quarter's aggregate earnings growth in the positive column and is playing a similar, though less pronounced, role this quarter as well.
J.P. Morgan has been in the news lately for all the wrong reasons, though the company has an impressive track record of positive earnings surprises, having beat expectations in the last 6 quarters. This report could have noisy parts related to the company's recent litigation and regulatory troubles, but core earnings should still remain best in class. The mortgage business will likely be less of a contributor this time around, both for JPM as well Wells Fargo.
Low Expectations for Q3
As has been the case at the start of recent quarterly earnings cycles, expectations for the Q3 earnings season have fallen sharply over the last three months. Total earnings for companies in the S&P 500 are now expected to be up only +1.1% from the same period last year, down from +5.1% at the start of the quarter in early July, as the chart below shows.
This negative revisions behavior is hardly unusual as we have been repeatedly seeing this pattern play out in recent quarters. Companies have been overwhelmingly guiding lower, prompting analysts to cut estimates for the following quarter. The revisions behavior ahead of the Q2 earnings season was no different, as the chart below shows.
Most of the same sectors have experienced negative revisions this time around as was the case in Q2. The 'regulars' on the negative estimate revisions front include Technology, Basic Materials, and Industrials. But in addition to those sectors, Retail and Consumer Staples have played some roles in bringing down expectations for Q3 as well.
The chart below compares the Q3 total earnings growth expected for these five sectors at the start of the quarter and where those expectations stand at present
Estimates for other sectors have come down as well, with even the Finance sector earnings expected to be up +5.9% today, vs. +6.2% last week and +8.1% in early July. Energy, Utilities, Conglomerates and even Construction have suffered negative revisions in varying degrees.
High Expectations for Q4
While estimates for Q3 have come down, the same for Q4 and the following quarters have held up fairly well, as the chart below shows.
Part of the strong Q4 growth is a function of easier comparisons, as 2012 Q4 represents the lowest quarterly earnings total for the S&P 500 in the last six quarters, with the comps particularly easy for the Finance sector. But it's not all due to easy comparisons, as the expected earnings totals for Q4 represent a new all-time quarterly record. Total earnings for the S&P 500 reached a new record at $258.6 billion in Q2, surpassing Q1's $253.6 billion record. But they are expected to reach $265.7 billion in 2013 Q4, with total earnings growth outside of Finance expected at +5.3%.
The evolving outlook for Q4 is perhaps the most important aspect of the Q3 earnings season, more so than Q3 earnings/revenue growth rates and beat ratios. While the overall level of aggregate earnings is in record territory, there isn't much growth. The longstanding hope in the market has been for earnings growth to eventually ramp up. But the starting point of this expected growth ramp-up keeps getting delayed quarter after quarter. The hope currently is that Q4 will be the starting point of such growth.
Guidance has overwhelmingly been negative over the last few quarters. But if current Q4 expectations have to hold, then we will need to see a change on the guidance front; we need to see more companies either guide higher or reaffirm current consensus expectations.
Anything short of that will result in a replay of the by-now familiar negative estimate revisions trend that we have been seeing in recent quarters. The market didn't care much as estimates came down in the last few quarters, hoping for better times ahead. Will it do the same this time as well, pushing its hopes of earnings ramp up into 2014? We will find out the answer to that question over the next two months.
For a more detailed look at the overall earnings picture, please check out our weekly Earnings Trends report here .
Monday - 10/7
With nothing else on the economic or earnings calendar, headlines from Washington will be in the spotlight.
Tuesday - 10/8
The August Trade Deficit is the only economic report on the docket, though it may fall victim to the shutdown.
Alcoa ( AA ) and Yum Brands ( YUM ) are the key earnings report today, both after the close. , while Global Payments ( GPN ) will report after the close.
Zacks Earnings ESP, our proprietary leading indicator of earnings surprises, is showing Alcoa to come out with a positive earnings surprise. Our research shows that companies with Zacks Rank of 3 (Hold) or better (meaning Zacks Rank # 1 (Strong Buy) or Zacks Rank #2 (Buy) combined with a positive Earnings ESP are highly likely to come out with positive earnings surprises. Alcoa currently has Zacks Rank # 3 (Hold) and has Earnings ESP of +16.7%.
To learn more about "Zacks Earnings ESP" please click here .
Wednesday - 10/9
We will get minutes of the Fed's last meeting in the afternoon. These minutes will be interesting as this FOMC meeting surprised the markets with its no-Taper decision that everyone was expecting.
Costco ( COST ), Family Dollar ( FDO ), and Fastenal ( FAST ) are the key reports in the morning, while Ruby Tuesday ( RT ) will report after the close.
Thursday - 10/10
The Jobless Claims data coming out in the morning will likely be noisy as it will reflect furloughed federal government employees.
Micron Technology ( MU ) and Safeway ( SWY ) are the only major earnings reports today, both reporting after the close.
Zacks Earnings ESP is showing both Micron and Safeway reporting earnings surprises. Micron has Zacks Rank #1 (Strong Buy) and Earnings ESP of +4.4%, while Zacks #2 Ranked Safeway has Earnings ESP of +26.7%. Please note that the magnitude of the ESP (+26.7% for SWY and +4.4% for MU) does not mean that the expected positive surprise will be this much.
Friday - 10/11
The September Retail Sales and PPI reports, scheduled for release before the market's open, may also fall victim to the government shutdown. But we will get the preliminary University of Michigan consumer sentiment survey after the market opens. The expectation is for the sentiment index to drop to 75 from the prior month's 77.5 reading.
J.P. Morgan ( JPM ) and Wells Fargo ( WFC ) are the only notable reports today, both in the morning.
Here is a list of the 33 companies reporting this week, including 10 S&P 500 members:
ALCOA INC (AA): Free Stock Analysis Report
AUTOZONE INC (AZO): Free Stock Analysis Report
COSTCO WHOLE CP (COST): Free Stock Analysis Report
FASTENAL (FAST): Free Stock Analysis Report
FAMILY DOLLAR (FDO): Free Stock Analysis Report
FEDEX CORP (FDX): Free Stock Analysis Report
GLOBAL PAYMENTS (GPN): Free Stock Analysis Report
JPMORGAN CHASE (JPM): Free Stock Analysis Report
MICRON TECH (MU): Free Stock Analysis Report
NIKE INC-B (NKE): Free Stock Analysis Report
RUBY TUESDAY (RT): Free Stock Analysis Report
SAFEWAY INC (SWY): Free Stock Analysis Report
WELLS FARGO-NEW (WFC): Free Stock Analysis Report
YUM! BRANDS INC (YUM): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Most of the companies reporting going forward, including Alcoa ( AA ) that reports October 8th after the close, are on the calendar quarter. Alcoa ( AA ) and Yum Brands ( YUM ) are the key earnings report today, both after the close. Here is a list of the 33 companies reporting this week, including 10 S&P 500 members: ALCOA INC (AA): Free Stock Analysis Report AUTOZONE INC (AZO): Free Stock Analysis Report COSTCO WHOLE CP (COST): Free Stock Analysis Report FASTENAL (FAST): Free Stock Analysis Report FAMILY DOLLAR (FDO): Free Stock Analysis Report FEDEX CORP (FDX): Free Stock Analysis Report GLOBAL PAYMENTS (GPN): Free Stock Analysis Report JPMORGAN CHASE (JPM): Free Stock Analysis Report MICRON TECH (MU): Free Stock Analysis Report NIKE INC-B (NKE): Free Stock Analysis Report RUBY TUESDAY (RT): Free Stock Analysis Report SAFEWAY INC (SWY): Free Stock Analysis Report WELLS FARGO-NEW (WFC): Free Stock Analysis Report YUM!
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Here is a list of the 33 companies reporting this week, including 10 S&P 500 members: ALCOA INC (AA): Free Stock Analysis Report AUTOZONE INC (AZO): Free Stock Analysis Report COSTCO WHOLE CP (COST): Free Stock Analysis Report FASTENAL (FAST): Free Stock Analysis Report FAMILY DOLLAR (FDO): Free Stock Analysis Report FEDEX CORP (FDX): Free Stock Analysis Report GLOBAL PAYMENTS (GPN): Free Stock Analysis Report JPMORGAN CHASE (JPM): Free Stock Analysis Report MICRON TECH (MU): Free Stock Analysis Report NIKE INC-B (NKE): Free Stock Analysis Report RUBY TUESDAY (RT): Free Stock Analysis Report SAFEWAY INC (SWY): Free Stock Analysis Report WELLS FARGO-NEW (WFC): Free Stock Analysis Report YUM! Most of the companies reporting going forward, including Alcoa ( AA ) that reports October 8th after the close, are on the calendar quarter. Alcoa ( AA ) and Yum Brands ( YUM ) are the key earnings report today, both after the close.
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Here is a list of the 33 companies reporting this week, including 10 S&P 500 members: ALCOA INC (AA): Free Stock Analysis Report AUTOZONE INC (AZO): Free Stock Analysis Report COSTCO WHOLE CP (COST): Free Stock Analysis Report FASTENAL (FAST): Free Stock Analysis Report FAMILY DOLLAR (FDO): Free Stock Analysis Report FEDEX CORP (FDX): Free Stock Analysis Report GLOBAL PAYMENTS (GPN): Free Stock Analysis Report JPMORGAN CHASE (JPM): Free Stock Analysis Report MICRON TECH (MU): Free Stock Analysis Report NIKE INC-B (NKE): Free Stock Analysis Report RUBY TUESDAY (RT): Free Stock Analysis Report SAFEWAY INC (SWY): Free Stock Analysis Report WELLS FARGO-NEW (WFC): Free Stock Analysis Report YUM! Most of the companies reporting going forward, including Alcoa ( AA ) that reports October 8th after the close, are on the calendar quarter. Alcoa ( AA ) and Yum Brands ( YUM ) are the key earnings report today, both after the close.
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Most of the companies reporting going forward, including Alcoa ( AA ) that reports October 8th after the close, are on the calendar quarter. Alcoa ( AA ) and Yum Brands ( YUM ) are the key earnings report today, both after the close. Here is a list of the 33 companies reporting this week, including 10 S&P 500 members: ALCOA INC (AA): Free Stock Analysis Report AUTOZONE INC (AZO): Free Stock Analysis Report COSTCO WHOLE CP (COST): Free Stock Analysis Report FASTENAL (FAST): Free Stock Analysis Report FAMILY DOLLAR (FDO): Free Stock Analysis Report FEDEX CORP (FDX): Free Stock Analysis Report GLOBAL PAYMENTS (GPN): Free Stock Analysis Report JPMORGAN CHASE (JPM): Free Stock Analysis Report MICRON TECH (MU): Free Stock Analysis Report NIKE INC-B (NKE): Free Stock Analysis Report RUBY TUESDAY (RT): Free Stock Analysis Report SAFEWAY INC (SWY): Free Stock Analysis Report WELLS FARGO-NEW (WFC): Free Stock Analysis Report YUM!
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1295.0
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2013-10-03 00:00:00 UTC
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The October Rally - Analyst Blog
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AA
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https://www.nasdaq.com/articles/october-rally-analyst-blog-2013-10-03
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nan
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nan
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Its earnings season again. Traditionally, traders have viewed the earnings report from Alcoa ( AA ) as the start of the earnings season. Alcoa recently lost its position in the Dow Jones Industrial Average, but it is still a well followed industrial name, and will provide a view on global economic conditions. This year, Alcoa releases its Q3 profits after the close on Tuesday, October 8 th .
The government "shutdown" and debt ceiling saga make the current market environment a bit unusual, and could distract the market from the flow of earnings. However, in the end stocks trade on earnings and the circus in Washington is likely to be short lived.
Many traders embrace seasonal patterns and it is always interesting to see how the market has traded in certain time periods. For this reason, it may be worth examining how the S&P 500 trades based on the S&P 500 ETF ( SPY ) during the Q3 earnings season. It could help with a view on market timing - exiting and entering positions.
Earnings expectations:
At this juncture, the S&P website has expected Q3 2013 operating earnings per share for the S&P 500 at $26.84 on a bottom up basis. This compares to a preliminary $26.36 in Q2 and $24.00 a year ago. Profits are expected to rise 1.8% sequentially and 11.8% y/y.
Even though profit growth is expected to be strong, Q3 2013 EPS estimates for the S&P 500 have been falling through the year. At the start of the year, the trade was looking for $28.64. Profit expectations have fallen $1.80 since.
Looking ahead, Q4 2013 operating earnings per share are projected at $28.88, which would equate to a gain of 7.6% sequentially and 24.7% y/y. The expectations seem extremely high. The recent strength in the ISM surveys holds out support for profit strength, but the events in Washington are a headwind.
Like the estimate for Q3 2013, the earnings per share estimate for Q4 2013 has also been falling. At the start of the year, the trade was looking for $29.75. Profit expectations have declined $0.87.
Last quarter:
(click graphic to enlarge)
The graphic above displays pattern of the S&P 500 ETF ( SPY ) just before and 20 trading days after the release of Alcoa's earnings in July 2013. The 5, 10, and 15 year averages and the 2013 pattern are provided. The stock market traded strong during the Q2 earnings release season, and seemed to generally follow the average with the exception of strength between day 1 and day 5 and day 18 and day 20.
This quarter:
The average price pattern for SPY looks very choppy during the Q3 period. This may be a function of stock market volatility in the fall. The stock market is well known for fall swoons - think of the October 1987 stock market crash, LTCM /Russian crisis, and the financial crisis of 2008. Politicians seem wiling to risk a swoon this year with their lack of cooperation.
(click graphic to enlarge)
Reading between the lines, it looks like there is a relative low on the third day after the release of Alcoa's earnings. This day will correspond to October 11 in 2013 and price strength continues for about 20 days after the release which equates to November 5. This year's dates are placed on the x-axis.
SPY has been up 12 of the past 15 years or 80% of the time from day 3 (3 days after Alcoa's earnings release) to day 20 (20 days after Alcoa's earnings release). The average gain is 3.97%. Broken out by up and down periods, the average gain in the 12 up periods has been 5.69%, while the average decline in the 3 down periods is 2.89%. The graphic below displays the return by year.
(click graphic to enlarge)
The down years were 2012, 2009, and 2007. The weakness has occurred recently compared to the 15 year time frame. There were big run ups in 1998, 2008 and 2002. These were periods where the market had sold off sharply going into earnings season, and they tend to skew the average.
Conclusion:
The stock market has tended to trade with a firm tone during the Q3 earnings release season. The performance in recent years has been less strong than in the past, but the track record of strength is eye catching. An end of the circus in Washington could be a catalyst for a stock market rally, but the poisonous attitude in Washington makes the current year a bit unusual. Let's look to see if history repeats.
ALCOA INC (AA): Free Stock Analysis Report
SPDR-DJ IND AVG (DIA): ETF Research Reports
NASDAQ-100 SHRS (QQQ): ETF Research Reports
SPDR-SP 500 TR (SPY): ETF Research Reports
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Traditionally, traders have viewed the earnings report from Alcoa ( AA ) as the start of the earnings season. ALCOA INC (AA): Free Stock Analysis Report SPDR-DJ IND AVG (DIA): ETF Research Reports NASDAQ-100 SHRS (QQQ): ETF Research Reports SPDR-SP 500 TR (SPY): ETF Research Reports To read this article on Zacks.com click here. (click graphic to enlarge) Reading between the lines, it looks like there is a relative low on the third day after the release of Alcoa's earnings.
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ALCOA INC (AA): Free Stock Analysis Report SPDR-DJ IND AVG (DIA): ETF Research Reports NASDAQ-100 SHRS (QQQ): ETF Research Reports SPDR-SP 500 TR (SPY): ETF Research Reports To read this article on Zacks.com click here. Traditionally, traders have viewed the earnings report from Alcoa ( AA ) as the start of the earnings season. The stock market traded strong during the Q2 earnings release season, and seemed to generally follow the average with the exception of strength between day 1 and day 5 and day 18 and day 20.
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Traditionally, traders have viewed the earnings report from Alcoa ( AA ) as the start of the earnings season. ALCOA INC (AA): Free Stock Analysis Report SPDR-DJ IND AVG (DIA): ETF Research Reports NASDAQ-100 SHRS (QQQ): ETF Research Reports SPDR-SP 500 TR (SPY): ETF Research Reports To read this article on Zacks.com click here. Last quarter: (click graphic to enlarge) The graphic above displays pattern of the S&P 500 ETF ( SPY ) just before and 20 trading days after the release of Alcoa's earnings in July 2013.
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Traditionally, traders have viewed the earnings report from Alcoa ( AA ) as the start of the earnings season. ALCOA INC (AA): Free Stock Analysis Report SPDR-DJ IND AVG (DIA): ETF Research Reports NASDAQ-100 SHRS (QQQ): ETF Research Reports SPDR-SP 500 TR (SPY): ETF Research Reports To read this article on Zacks.com click here. Many traders embrace seasonal patterns and it is always interesting to see how the market has traded in certain time periods.
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1296.0
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2013-10-02 00:00:00 UTC
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Pre-Market Most Active for Oct 2, 2013 : AA, NOK, QQQ, ALU, BAC, FB, RMTI, MCP, TSLA, AZN, ADSK, AAPL
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AA
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https://www.nasdaq.com/articles/pre-market-most-active-oct-2-2013-aa-nok-qqq-alu-bac-fb-rmti-mcp-tsla-azn-adsk-aapl-2013
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nan
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nan
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The NASDAQ 100 Pre-Market Indicator is down -8.71 to 3,244.34. The total Pre-Market volume is currently 2,748,683 shares traded.
The following are the most active stocks for the pre-market session :
Alcoa Inc. ( AA ) is -0.25 at $7.92, with 758,695 shares traded.AA is scheduled to provide an earnings report on 10/8/2013, for the fiscal quarter ending Sep2013. The consensus earnings per share forecast is 0.06 per share, which represents a 3 percent increase over the EPS one Year Ago
Nokia Corporation ( NOK ) is +0.09 at $6.71, with 689,245 shares traded. Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Jun 2014. The consensus EPS forecast is $0.05. NOK's current last sale is 134.2% of the target price of $5.
PowerShares QQQ Trust, Series 1 ( QQQ ) is -0.47 at $79.21, with 527,572 shares traded. This represents a 29.2% increase from its 52 Week Low.
Alcatel Lucent ( ALU ) is +0.13 at $3.80, with 490,795 shares traded. ALU's current last sale is 190% of the target price of $2.
Bank of America Corporation ( BAC ) is -0.09 at $13.81, with 452,794 shares traded. BAC's current last sale is 95.24% of the target price of $14.5.
Facebook, Inc. ( FB ) is -0.25 at $50.17, with 350,236 shares traded. Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Dec 2013. The consensus EPS forecast is $0.17. As reported by Zacks, the current mean recommendation for FB is in the "buy range".
Rockwell Medical, Inc. ( RMTI ) is +1.16 at $12.60, with 283,810 shares traded. As reported by Zacks, the current mean recommendation for RMTI is in the "strong buy range".
Molycorp, Inc ( MCP ) is +0.49 at $7.15, with 213,733 shares traded. As reported in the last short interest update the days to cover for MCP is 9.417059; this calculation is based on the average trading volume of the stock.
Tesla Motors, Inc. ( TSLA ) is -4.4 at $188.60, with 168,668 shares traded. TSLA's current last sale is 110.94% of the target price of $170.
Astrazeneca PLC ( AZN ) is -0.1 at $51.82, with 153,925 shares traded. AZN's current last sale is 101.61% of the target price of $51.
Autodesk, Inc. ( ADSK ) is +0.06 at $40.55, with 116,815 shares traded. ADSK's current last sale is 96.55% of the target price of $42.
Apple Inc. ( AAPL ) is -1.71 at $486.25, with 107,095 shares traded. Over the last four weeks they have had 12 up revisions for the earnings forecast, for the fiscal quarter ending Sep 2013. The consensus EPS forecast is $7.81. As reported by Zacks, the current mean recommendation for AAPL is in the "buy range".
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The following are the most active stocks for the pre-market session : Alcoa Inc. ( AA ) is -0.25 at $7.92, with 758,695 shares traded.AA is scheduled to provide an earnings report on 10/8/2013, for the fiscal quarter ending Sep2013. Apple Inc. ( AAPL ) is -1.71 at $486.25, with 107,095 shares traded. As reported by Zacks, the current mean recommendation for AAPL is in the "buy range".
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The following are the most active stocks for the pre-market session : Alcoa Inc. ( AA ) is -0.25 at $7.92, with 758,695 shares traded.AA is scheduled to provide an earnings report on 10/8/2013, for the fiscal quarter ending Sep2013. Apple Inc. ( AAPL ) is -1.71 at $486.25, with 107,095 shares traded. As reported by Zacks, the current mean recommendation for AAPL is in the "buy range".
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The following are the most active stocks for the pre-market session : Alcoa Inc. ( AA ) is -0.25 at $7.92, with 758,695 shares traded.AA is scheduled to provide an earnings report on 10/8/2013, for the fiscal quarter ending Sep2013. Apple Inc. ( AAPL ) is -1.71 at $486.25, with 107,095 shares traded. As reported by Zacks, the current mean recommendation for AAPL is in the "buy range".
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The following are the most active stocks for the pre-market session : Alcoa Inc. ( AA ) is -0.25 at $7.92, with 758,695 shares traded.AA is scheduled to provide an earnings report on 10/8/2013, for the fiscal quarter ending Sep2013. Apple Inc. ( AAPL ) is -1.71 at $486.25, with 107,095 shares traded. As reported by Zacks, the current mean recommendation for AAPL is in the "buy range".
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1297.0
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2013-09-24 00:00:00 UTC
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Alcoa Recognized for Breakthrough Technology - Analyst Blog
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AA
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https://www.nasdaq.com/articles/alcoa-recognized-for-breakthrough-technology-analyst-blog-2013-09-24
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nan
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nan
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Aluminum giant Alcoa Inc. ( AA ) has won the Metal Bulletin's top innovation award for its breakthrough technology which allowed it to produce more aluminum-intensive vehicles. Through its novel technology dubbed Alcoa 951, the company caters to consumer needs through provision of fuel efficient vehicles. With this, Alcoa is expanding its presence in the auto industry.
Alcoa 951 is a breakthrough technology-the new pre-treatment bonding standard for aluminum sheet, extrusion and casting suppliers across the automotive industry.
Alcoa 951 is a patented, chrome-free pre-treatment that enables production of more durable bonds between an aluminum substrate and a structural adhesive used in an assembly process. Alcoa reported that Alcoa 951 has been proven to be up to nine times more durable than titanium zirconium applications that have been widely used in the automotive industry in the past.
Alcoa 951 technology is significantly beneficial for Alcoa's customers and a perfect example of Alcoa Technology Advantage. The technology makes possible wide usage of aluminum throughout the automotive industry and in mass-produced aluminum-intensive vehicles, thus saving fuel.
As per automotive original equipment manufacturers (OEMs), the use of aluminum in cars is expected to double by 2025 as automakers seek more fuel efficiency by reducing vehicle mass. Many OEMs are expanding aluminum use from heat exchangers, wheels, drive shafts, engine blocks, hoods and deck lids to develop aluminum intensive vehicles (AIVs) by converting the body in white, or body structure, to aluminum. In Apr 2013, Alcoa licensed Alcoa 951 to Chemetall, a division of Rockwood Holdings, Inc. ( ROC ), in an exclusive global distribution pact.
Alcoa is investing about $575 million to expand its auto sheet business in the U.S. in Davenport, Iowa and Alcoa, Tennessee. The company is also building a rolling mill at its greenfield joint venture project in Saudi Arabia with capacity to produce aluminum automotive sheets.
Alcoa, a prominent player in the mining industry along with Aluminum Corporation of China Limited ( ACH ) and BHP Billiton Limited ( BHP ), is a world leader in production and management of primary aluminum, fabricated aluminum, and alumina. The company is also the world's largest miner of bauxite and refiner of alumina.
Alcoa currently retains a short-term Zacks Rank #3 (Hold).
ALCOA INC (AA): Free Stock Analysis Report
ALUMINUM CP-ADR (ACH): Get Free Report
BHP BILLITN LTD (BHP): Free Stock Analysis Report
ROCKWOOD HLDGS (ROC): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Aluminum giant Alcoa Inc. ( AA ) has won the Metal Bulletin's top innovation award for its breakthrough technology which allowed it to produce more aluminum-intensive vehicles. ALCOA INC (AA): Free Stock Analysis Report ALUMINUM CP-ADR (ACH): Get Free Report BHP BILLITN LTD (BHP): Free Stock Analysis Report ROCKWOOD HLDGS (ROC): Free Stock Analysis Report To read this article on Zacks.com click here. As per automotive original equipment manufacturers (OEMs), the use of aluminum in cars is expected to double by 2025 as automakers seek more fuel efficiency by reducing vehicle mass.
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ALCOA INC (AA): Free Stock Analysis Report ALUMINUM CP-ADR (ACH): Get Free Report BHP BILLITN LTD (BHP): Free Stock Analysis Report ROCKWOOD HLDGS (ROC): Free Stock Analysis Report To read this article on Zacks.com click here. Aluminum giant Alcoa Inc. ( AA ) has won the Metal Bulletin's top innovation award for its breakthrough technology which allowed it to produce more aluminum-intensive vehicles. Alcoa, a prominent player in the mining industry along with Aluminum Corporation of China Limited ( ACH ) and BHP Billiton Limited ( BHP ), is a world leader in production and management of primary aluminum, fabricated aluminum, and alumina.
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ALCOA INC (AA): Free Stock Analysis Report ALUMINUM CP-ADR (ACH): Get Free Report BHP BILLITN LTD (BHP): Free Stock Analysis Report ROCKWOOD HLDGS (ROC): Free Stock Analysis Report To read this article on Zacks.com click here. Aluminum giant Alcoa Inc. ( AA ) has won the Metal Bulletin's top innovation award for its breakthrough technology which allowed it to produce more aluminum-intensive vehicles. Alcoa 951 technology is significantly beneficial for Alcoa's customers and a perfect example of Alcoa Technology Advantage.
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Aluminum giant Alcoa Inc. ( AA ) has won the Metal Bulletin's top innovation award for its breakthrough technology which allowed it to produce more aluminum-intensive vehicles. ALCOA INC (AA): Free Stock Analysis Report ALUMINUM CP-ADR (ACH): Get Free Report BHP BILLITN LTD (BHP): Free Stock Analysis Report ROCKWOOD HLDGS (ROC): Free Stock Analysis Report To read this article on Zacks.com click here. Through its novel technology dubbed Alcoa 951, the company caters to consumer needs through provision of fuel efficient vehicles.
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1298.0
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2013-09-19 00:00:00 UTC
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MT Insider: Equities Rally Overnight on Federal Reserve Decision To Not Taper
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AA
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https://www.nasdaq.com/articles/mt-insider-equities-rally-overnight-federal-reserve-decision-not-taper-2013-09-19
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nan
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nan
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As expected, equities soared in overnight trading in response to the Federal Reserve Committee's decision to not taper. Even the emerging markets sector, which has been a bear trade for many investors, rallied on the Fed's decision.
Putting this into perspective, cyclical names in the US such as Home Depot ( HD ), Cisco Systems ( CSCO ) and Alcoa ( AA ) coupled with bond-like stocks such as Coca-Cola ( KO ) and Walmart ( WMT ) all gained as a result of Chairman Ben Bernanke's announcement.
It is worth noting that the technology sector is up in the pre-market despite the miss at Oracle (ORCL) where Q2 guidance disappointed, as the company was negatively impacted by lackluster IT spending and increased competition from Salesforce.com (CRM).
Asia was closed for the holidays with the exception of Japan and Hong Kong. Worth noting, the Nikkei was up 2% across almost all sectors, lead by financials and basic materials. It is likely that Japan will move forward with the planned consumption tax hike.
In Europe, gains were also across the board, lead by autos, basic resources, food/beverage, banks, and real estate. Aside from the Fed, there are whispers of another European Central Bank (ECB) Long Term Refinancing Operation (LTRO) in the works. Separately, the S&P downgraded Portugal, but markets are mostly shrugging this off. The next catalyst will be the upcoming German elections.
Looking at the calendar today, Brady Corp (BRC), Clean Harbors (CLH), Digital River (DRIV), and Microsoft (MSFT) are all holding analyst meetings while earnings before the open include Pier 1 Imports (PIR) and Rite Aid (RAD). Tibco Software (TIBX) will be reporting after the close.
DJIA 15631.0 +37.0 +0.24
IXIC 3232.75 +11.0 +0.34
SPX 1724.25 +6.5 +0.38
HD 77.67 +0.39 +0.50
CSCO 24.66 -0.14 -0.54
AA 8.57 +0.01 +0.18
KO 39.70 +0.11 +0.28
ORCL 33.15 -0.72 -2.13
CRM 52.49 0.00 0.00
BRC 31.15 0.00 0.00
CLH 59.63 0.00 0.00
DRIV 17,47 0.00 0.00
MSFT 33.48 +0.16 +0.48
PIR 20.84 -2.76 -11.69
RAD 4.15 +0.44 +11.86
TIBX 24.60 0.00 0.00
N225 1476.18 +260.82 +1.80
FTSE 100 6652.97 +93.15 +1.42
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Putting this into perspective, cyclical names in the US such as Home Depot ( HD ), Cisco Systems ( CSCO ) and Alcoa ( AA ) coupled with bond-like stocks such as Coca-Cola ( KO ) and Walmart ( WMT ) all gained as a result of Chairman Ben Bernanke's announcement. It is worth noting that the technology sector is up in the pre-market despite the miss at Oracle (ORCL) where Q2 guidance disappointed, as the company was negatively impacted by lackluster IT spending and increased competition from Salesforce.com (CRM). Looking at the calendar today, Brady Corp (BRC), Clean Harbors (CLH), Digital River (DRIV), and Microsoft (MSFT) are all holding analyst meetings while earnings before the open include Pier 1 Imports (PIR) and Rite Aid (RAD).
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Putting this into perspective, cyclical names in the US such as Home Depot ( HD ), Cisco Systems ( CSCO ) and Alcoa ( AA ) coupled with bond-like stocks such as Coca-Cola ( KO ) and Walmart ( WMT ) all gained as a result of Chairman Ben Bernanke's announcement. Even the emerging markets sector, which has been a bear trade for many investors, rallied on the Fed's decision.
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Putting this into perspective, cyclical names in the US such as Home Depot ( HD ), Cisco Systems ( CSCO ) and Alcoa ( AA ) coupled with bond-like stocks such as Coca-Cola ( KO ) and Walmart ( WMT ) all gained as a result of Chairman Ben Bernanke's announcement. As expected, equities soared in overnight trading in response to the Federal Reserve Committee's decision to not taper. Even the emerging markets sector, which has been a bear trade for many investors, rallied on the Fed's decision.
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Putting this into perspective, cyclical names in the US such as Home Depot ( HD ), Cisco Systems ( CSCO ) and Alcoa ( AA ) coupled with bond-like stocks such as Coca-Cola ( KO ) and Walmart ( WMT ) all gained as a result of Chairman Ben Bernanke's announcement. As expected, equities soared in overnight trading in response to the Federal Reserve Committee's decision to not taper. Asia was closed for the holidays with the exception of Japan and Hong Kong.
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1299.0
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2013-09-18 00:00:00 UTC
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Stock Upgrades: Tilly's Is a Teenage Dream
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AA
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https://www.nasdaq.com/articles/stock-upgrades-tillys-teenage-dream-2013-09-18
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nan
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nan
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An adaptation of Washington Irving's Sleepy Hollow just premiered to boffo business but it is another of the author's somnambulant creations - namely Rip Van Winkle - that most comes to mind as Mister Market awakes as if Lehman never happened. (For good measure, the top S&P 500 Index (INDEXSP:.INX) stock over the past five years is Regeneron ( REGN ), based in the headless horseman headquarters of Tarrytown.) That a man who brought Merrill Lynch to its knees during the financial crisis is now on the board of Alcoa Inc. ( AA ) - yesterday's best-performing Dow (INDEXDJX:.DJI) component, incidentally - indicates just how little accountability came with the Great Recession.
Among equities on the move, Apple Inc. ( AAPL ) snapped a brutal slide to advance 1.16% and Abercrombie & Fitch ( ANF ), involved in a contentious campaign to take over London's old Apple Corps building made famous by The Beatles , rose 2.92%. The hoity-toity types it encountered there are known in England as " chinless wonders " but yesterday it was double chins that proved profitable for Kythera Biopharmaceuticals ( KYTH ), which jumped 25.11% to top the Nasdaq (INDEXNASDAQ:.IXIC).
Today the Federal Open Market Committee concludes its two-day policy setting meeting in Washington, DC, with an interest rate announcement expected at 2:00 p.m. Eastern. Ben Bernanke is due to host a press conference at 2:30 p.m. In corporate earnings action, Cracker Barrel (CBRL), FedEx (FDX), General Mills (GIS), Manchester United (MANU), and Oracle (ORCL) are all slated to release results.
Becton Dickinson (BDX): Piper Jaffray moves the medical instruments equity to Overweight from Neutral.
Colgate-Palmolive (CL): The consumer products powerhouse is boosted to Overweight from Equal Weight by Barclays.
Con Edison (ED): Goldman Sachs juices the New York electric utility name to Neutral from Sell.
HCA Holdings (HCA): HCA is hoisted to Buy from Neutral at Mizuho, which also increases its price objective by $9 to $51 on account of potential benefits from health care reform.
Interpublic Group (IPG): The advertising giant gets upgraded to Hold from Underperform at Jefferies.
Nokia Corporation (NOK): Didn't we just do this, not once but twice ? Another week, another upgrade for the surging Finnish telecom titan, today trading higher in Europe after getting taken to Outperform from Neutral at Credit Suisse.
Oil States International (OIS): BMO Capital Markets increases the energy outfit to Market Perform from Underperform.
Tilly's Inc (TLYS): The teen apparel outfit is now Overweight from Neutral at Piper Jaffray.
Vipshop (VIPS): Deutsche Bank boosts the discount and variety store operator to Buy from Hold.
Weatherford International (WFT): The oil services stock is upgraded to Outperform from Market Perform with Wells Fargo.
Whirlpool (WHR): Shares are added to the US 1 List of favored equities at Bank of America-Merrill Lynch.
(See also: New Stock Coverage: Sprint Stuck in the Starting Blocks and Stock Downgrades: Procter & Gamble Is All Out of Luvs .)
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
That a man who brought Merrill Lynch to its knees during the financial crisis is now on the board of Alcoa Inc. ( AA ) - yesterday's best-performing Dow (INDEXDJX:.DJI) component, incidentally - indicates just how little accountability came with the Great Recession. Among equities on the move, Apple Inc. ( AAPL ) snapped a brutal slide to advance 1.16% and Abercrombie & Fitch ( ANF ), involved in a contentious campaign to take over London's old Apple Corps building made famous by The Beatles , rose 2.92%. An adaptation of Washington Irving's Sleepy Hollow just premiered to boffo business but it is another of the author's somnambulant creations - namely Rip Van Winkle - that most comes to mind as Mister Market awakes as if Lehman never happened.
|
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. That a man who brought Merrill Lynch to its knees during the financial crisis is now on the board of Alcoa Inc. ( AA ) - yesterday's best-performing Dow (INDEXDJX:.DJI) component, incidentally - indicates just how little accountability came with the Great Recession. Among equities on the move, Apple Inc. ( AAPL ) snapped a brutal slide to advance 1.16% and Abercrombie & Fitch ( ANF ), involved in a contentious campaign to take over London's old Apple Corps building made famous by The Beatles , rose 2.92%.
|
That a man who brought Merrill Lynch to its knees during the financial crisis is now on the board of Alcoa Inc. ( AA ) - yesterday's best-performing Dow (INDEXDJX:.DJI) component, incidentally - indicates just how little accountability came with the Great Recession. Among equities on the move, Apple Inc. ( AAPL ) snapped a brutal slide to advance 1.16% and Abercrombie & Fitch ( ANF ), involved in a contentious campaign to take over London's old Apple Corps building made famous by The Beatles , rose 2.92%. In corporate earnings action, Cracker Barrel (CBRL), FedEx (FDX), General Mills (GIS), Manchester United (MANU), and Oracle (ORCL) are all slated to release results.
|
That a man who brought Merrill Lynch to its knees during the financial crisis is now on the board of Alcoa Inc. ( AA ) - yesterday's best-performing Dow (INDEXDJX:.DJI) component, incidentally - indicates just how little accountability came with the Great Recession. Among equities on the move, Apple Inc. ( AAPL ) snapped a brutal slide to advance 1.16% and Abercrombie & Fitch ( ANF ), involved in a contentious campaign to take over London's old Apple Corps building made famous by The Beatles , rose 2.92%. An adaptation of Washington Irving's Sleepy Hollow just premiered to boffo business but it is another of the author's somnambulant creations - namely Rip Van Winkle - that most comes to mind as Mister Market awakes as if Lehman never happened.
|
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