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6.0 | 2023-11-24 00:00:00 UTC | The Zacks Analyst Blog Highlights Visa, Marriott International, Parker-Hannifin, FedEx and Agilent Technologies | A | https://www.nasdaq.com/articles/the-zacks-analyst-blog-highlights-visa-marriott-international-parker-hannifin-fedex-and | nan | nan | For Immediate Release
Chicago, IL – November 24, 2023 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Visa Inc. V, Marriott International, Inc. MAR, Parker-Hannifin Corp. PH, FedEx Corp. FDX and Agilent Technologies, Inc. A.
Here are highlights from Wednesday’s Analyst Blog:
Top Research Reports for Visa, Marriott International and Parker-Hannifin
The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features new research reports on 16 major stocks, including Visa Inc., Marriott International, Inc. and Parker-Hannifin Corp. These research reports have been hand-picked from the roughly 70 reports published by our analyst team today.
You can see all of today's research reports here >>>
Visa's shares have outperformed the Zacks Financial Transaction Services industry over the past year (+20.9% vs. +15.7%). The company's stock prices has consistently outperformed the industry, driven by strategic acquisitions and alliances fostering long-term growth.
The fourth quarter fiscal 2023 earnings beat estimates, fueled by increased payments and sustained investments in technology. The ongoing shift to digital payments is advantageous for Visa, with strong domestic volumes supporting overall performance. A robust cash position enables the company to enhance shareholder value.
However, elevated operating expenses pose margin challenges. Increased client incentives may impact the top line. Additionally, it is witnessing a declining cash volume from the Asia Pacific and CEMEA regions. As such the stock warrants a cautious stance.
(You can read the full research report on Visa here >>>)
Shares of Marriott International have outperformed the Zacks Hotels and Motels industry over the year-to-date period (+40.6% vs. +22.9%). The company's upside was backed by robust leisure demand and solid global booking trends.
Also, substantial RevPAR growth in international markets added to the upside. In the quarter, RevPAR for worldwide comparable system-wide properties increased 8.8% year over year. Also, the emphasis on expansion initiatives, digital innovation and the loyalty program bode well.
During the quarter, the company added 97 properties to its worldwide lodging portfolio. However, challenging macroeconomic conditions and high debt remain a concern. Earnings estimates for 2023 have declined in the past 30 days.
(You can read the full research report on Marriott International here >>>)
Shares ofParker-Hannifin have outperformed the Zacks Manufacturing - General Industrial industry over the year-to-date period (+51.1% vs. +12.0%). The company is benefiting from higher demand from distributors and end users across the oil and gas, material handling, cars and light trucks, and farm and agriculture markets in the North American region within the Diversified Industrial segment.
Higher volume across all businesses, especially the commercial and military aftermarket businesses bolstered the company's Aerospace Systems unit. Synergies from the Meggitt buyout (September 2022) are also aiding the company. Benefits from the Win strategy are driving Parker-Hannifin's margins. The company's measures to add shareholder value hold promise.
However, the escalating cost of sales and rising selling, general and administrative expenses pose a threat to its bottom line. Foreign currency headwinds may dent PH's top line. A weak liquidity position is also worrisome.
(You can read the full research report on Parker-Hannifin here >>>)
Other noteworthy reports we are featuring today include FedEx Corp. and Agilent Technologies, Inc..
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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Visa Inc. (V) : Free Stock Analysis Report
Marriott International, Inc. (MAR) : Free Stock Analysis Report
Parker-Hannifin Corporation (PH) : Free Stock Analysis Report
Agilent Technologies, Inc. (A) : Free Stock Analysis Report
FedEx Corporation (FDX) : 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. | Stocks recently featured in the blog include: Visa Inc. V, Marriott International, Inc. MAR, Parker-Hannifin Corp. PH, FedEx Corp. FDX and Agilent Technologies, Inc. A. The company is benefiting from higher demand from distributors and end users across the oil and gas, material handling, cars and light trucks, and farm and agriculture markets in the North American region within the Diversified Industrial segment. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. | Stocks recently featured in the blog include: Visa Inc. V, Marriott International, Inc. MAR, Parker-Hannifin Corp. PH, FedEx Corp. FDX and Agilent Technologies, Inc. A. Here are highlights from Wednesday’s Analyst Blog: Top Research Reports for Visa, Marriott International and Parker-Hannifin The Zacks Research Daily presents the best research output of our analyst team. Click to get this free report Visa Inc. (V) : Free Stock Analysis Report Marriott International, Inc. (MAR) : Free Stock Analysis Report Parker-Hannifin Corporation (PH) : Free Stock Analysis Report Agilent Technologies, Inc. (A) : Free Stock Analysis Report FedEx Corporation (FDX) : Free Stock Analysis Report To read this article on Zacks.com click here. | Here are highlights from Wednesday’s Analyst Blog: Top Research Reports for Visa, Marriott International and Parker-Hannifin The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features new research reports on 16 major stocks, including Visa Inc., Marriott International, Inc. and Parker-Hannifin Corp. Click to get this free report Visa Inc. (V) : Free Stock Analysis Report Marriott International, Inc. (MAR) : Free Stock Analysis Report Parker-Hannifin Corporation (PH) : Free Stock Analysis Report Agilent Technologies, Inc. (A) : Free Stock Analysis Report FedEx Corporation (FDX) : Free Stock Analysis Report To read this article on Zacks.com click here. | Here are highlights from Wednesday’s Analyst Blog: Top Research Reports for Visa, Marriott International and Parker-Hannifin The Zacks Research Daily presents the best research output of our analyst team. A robust cash position enables the company to enhance shareholder value. In the quarter, RevPAR for worldwide comparable system-wide properties increased 8.8% year over year. | edc7a891-10e9-4710-941b-77d92f360017 |
18.0 | 2023-11-16 00:00:00 UTC | Daily Dividend Report: CSCO,CB,EXR,NOC,A,PHM | A | https://www.nasdaq.com/articles/daily-dividend-report%3A-cscocbexrnocaphm | nan | nan | Cisco has declared a quarterly dividend of $0.39 per common share to be paid on January 24, 2024, to all stockholders of record as of the close of business on January 4, 2024.
The Board of Directors of Chubb today declared a quarterly dividend equal to $0.86 per share, payable on January 5, 2024 to shareholders of record at the close of business on December 15, 2023. The dividend will be payable out of legal reserves and will be made in United States dollars by the company's transfer agent, as described in the Chubb Limited 2023 proxy statement. This will be the third installment as approved by the company's shareholders on May 17, 2023.
Extra Space Storage announced today that the Company's board of directors has declared a fourth quarter 2023 dividend of $1.62 per share on the common stock of the Company. The dividend is payable on December 29, 2023 to stockholders of record at the close of business on December 15, 2023.
The board of directors of Northrop Grumman declared a quarterly dividend of $1.87 per share on Northrop Grumman common stock, payable Dec. 13, 2023, to shareholders of record as of the close of business Nov. 27, 2023.
Agilent Technologies today announced the company has increased its quarterly dividend to 23.6 cents per share of common stock, a 5% increase over the previous dividend. The quarterly dividend will be paid on Jan. 24, 2024, to all shareholders of record as of the close of business on Jan. 2, 2024.
PulteGroup announced today that its Board of Directors has voted to increase the Company's quarterly dividend by 25% to $0.20 per common share. The increase will be effective with the Company's next scheduled dividend, which is payable January 3, 2024, to shareholders of record at the close of business on December 19, 2023.
VIDEO: Daily Dividend Report: CSCO,CB,EXR,NOC,A,PHM
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The Board of Directors of Chubb today declared a quarterly dividend equal to $0.86 per share, payable on January 5, 2024 to shareholders of record at the close of business on December 15, 2023. The dividend will be payable out of legal reserves and will be made in United States dollars by the company's transfer agent, as described in the Chubb Limited 2023 proxy statement. The increase will be effective with the Company's next scheduled dividend, which is payable January 3, 2024, to shareholders of record at the close of business on December 19, 2023. | The Board of Directors of Chubb today declared a quarterly dividend equal to $0.86 per share, payable on January 5, 2024 to shareholders of record at the close of business on December 15, 2023. Extra Space Storage announced today that the Company's board of directors has declared a fourth quarter 2023 dividend of $1.62 per share on the common stock of the Company. The board of directors of Northrop Grumman declared a quarterly dividend of $1.87 per share on Northrop Grumman common stock, payable Dec. 13, 2023, to shareholders of record as of the close of business Nov. 27, 2023. | The Board of Directors of Chubb today declared a quarterly dividend equal to $0.86 per share, payable on January 5, 2024 to shareholders of record at the close of business on December 15, 2023. The board of directors of Northrop Grumman declared a quarterly dividend of $1.87 per share on Northrop Grumman common stock, payable Dec. 13, 2023, to shareholders of record as of the close of business Nov. 27, 2023. Agilent Technologies today announced the company has increased its quarterly dividend to 23.6 cents per share of common stock, a 5% increase over the previous dividend. | The Board of Directors of Chubb today declared a quarterly dividend equal to $0.86 per share, payable on January 5, 2024 to shareholders of record at the close of business on December 15, 2023. PulteGroup announced today that its Board of Directors has voted to increase the Company's quarterly dividend by 25% to $0.20 per common share. The increase will be effective with the Company's next scheduled dividend, which is payable January 3, 2024, to shareholders of record at the close of business on December 19, 2023. | b2ecb549-7fb5-4167-8a31-056210238b21 |
31.0 | 2023-10-17 00:00:00 UTC | Carl Icahn sues Illumina board for violating 'fiduciary duties' | A | https://www.nasdaq.com/articles/carl-icahn-sues-illumina-board-for-violating-fiduciary-duties | nan | nan | Changes source in headline, recasts paragraph 1, adds background in paragraphs 4-6
Oct 17 (Reuters) - Activist-investor Carl Icahn sued the board of directors at genetic testing company Illumina ILMN.O and accused them of breaching their fiduciary duties, according to a sealed copy of the complaint on Tuesday.
The publicly available version of the complaint did not contain further details, but Icahn told the 13D investor conference in New York on Tuesday that the lawsuit pertained to Illumina completing its acquisition of cancer detection test maker Grail.
Illumina said it is reviewing the complaint, while Icahn and Grail did not immediately respond to Reuters requests for a comment.
The gene-sequencing machine maker had repurchased Grail in 2021 despite opposition from U.S. and European antitrust regulators - a decision that prompted Icahn to pursue a proxy fight at Illumina, arguing Grail should be divested as it had cost investors billions of dollars.
Last week, Illumina said it would divest cancer test maker Grail in 12 months according to the terms of the European Commission's order, if the life sciences company does not win its challenge in court.
(Reporting by Mrinmay Dey and Shivani Tanna in Bengaluru; Editing by Sherry Jacob-Phillips)
((Mrinmay.Dey@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Changes source in headline, recasts paragraph 1, adds background in paragraphs 4-6 Oct 17 (Reuters) - Activist-investor Carl Icahn sued the board of directors at genetic testing company Illumina ILMN.O and accused them of breaching their fiduciary duties, according to a sealed copy of the complaint on Tuesday. The publicly available version of the complaint did not contain further details, but Icahn told the 13D investor conference in New York on Tuesday that the lawsuit pertained to Illumina completing its acquisition of cancer detection test maker Grail. Last week, Illumina said it would divest cancer test maker Grail in 12 months according to the terms of the European Commission's order, if the life sciences company does not win its challenge in court. | Changes source in headline, recasts paragraph 1, adds background in paragraphs 4-6 Oct 17 (Reuters) - Activist-investor Carl Icahn sued the board of directors at genetic testing company Illumina ILMN.O and accused them of breaching their fiduciary duties, according to a sealed copy of the complaint on Tuesday. The publicly available version of the complaint did not contain further details, but Icahn told the 13D investor conference in New York on Tuesday that the lawsuit pertained to Illumina completing its acquisition of cancer detection test maker Grail. Last week, Illumina said it would divest cancer test maker Grail in 12 months according to the terms of the European Commission's order, if the life sciences company does not win its challenge in court. | Changes source in headline, recasts paragraph 1, adds background in paragraphs 4-6 Oct 17 (Reuters) - Activist-investor Carl Icahn sued the board of directors at genetic testing company Illumina ILMN.O and accused them of breaching their fiduciary duties, according to a sealed copy of the complaint on Tuesday. The publicly available version of the complaint did not contain further details, but Icahn told the 13D investor conference in New York on Tuesday that the lawsuit pertained to Illumina completing its acquisition of cancer detection test maker Grail. The gene-sequencing machine maker had repurchased Grail in 2021 despite opposition from U.S. and European antitrust regulators - a decision that prompted Icahn to pursue a proxy fight at Illumina, arguing Grail should be divested as it had cost investors billions of dollars. | Changes source in headline, recasts paragraph 1, adds background in paragraphs 4-6 Oct 17 (Reuters) - Activist-investor Carl Icahn sued the board of directors at genetic testing company Illumina ILMN.O and accused them of breaching their fiduciary duties, according to a sealed copy of the complaint on Tuesday. The publicly available version of the complaint did not contain further details, but Icahn told the 13D investor conference in New York on Tuesday that the lawsuit pertained to Illumina completing its acquisition of cancer detection test maker Grail. Illumina said it is reviewing the complaint, while Icahn and Grail did not immediately respond to Reuters requests for a comment. | 6f350503-0ec3-407c-9fad-f6c2c26867ad |
32.0 | 2023-10-10 00:00:00 UTC | Agilent (A) Bolsters NTD Research With SIDC Partnership | A | https://www.nasdaq.com/articles/agilent-a-bolsters-ntd-research-with-sidc-partnership | nan | nan | Agilent Technologies A signed a Memorandum of Understanding with the Sarawak Infectious Disease Centre (SIDC) to provide its 6475 triple quadrupole LC/MS system for neglected tropical diseases (NTD) research.
Notably, Agilent's 6475 LC/MS, which utilizes iFunnel technologies, will aid SIDC's research on tropical medicines and infectious diseases, enabling rapid outbreak response through extensive research and diagnostic capabilities.
Further, the 6475 LC/MS system enhances signal response and optimizes research outcomes through technology and knowledge transfer, capacity building, research programs and human capital development.
SIDC plans to use Agilent's capabilities as it prepares for facility completion by December 2025.
We note that the latest move has expanded the customer base of Agilent’s liquid chromatography mass spectrometry (LC/MS) systems. This, in turn, will strengthen Agilent’s Life Sciences & Applied Markets Group (LSAG) segment.
Moreover, the deal will also strengthen Agilent’s footprint in Asian markets.
Agilent Technologies, Inc. Price and Consensus
Agilent Technologies, Inc. price-consensus-chart | Agilent Technologies, Inc. Quote
Growth Prospects
We believe that the latest move will strengthen the company’s footing in the global neglected tropical diseases diagnosis market.
Per an MMR research report, the global NTD diagnosis market size is expected to reach $8.97 billion by 2029, exhibiting a CAGR of 4.5% between 2022 and 2029.
A Grand View Research report predicts the global NTD diagnosis market size to witness a CAGR of 4.5% during the forecast period of 2023-2030.
We believe the company’s solid prospects in the promising NTD diagnosis market are expected to instill investor optimism in the stock.
However, it has been suffering from macroeconomic uncertainties, weak momentum in China, rising inflationary pressure and geo-political tensions.
Agilent has lost 25.6% in the year-to-date period, underperforming the industry’s growth of 0.8%.
LSAG Segment in Focus
The latest move is in sync with the company’s growing efforts toward bolstering its LSAG segment.
Apart from the latest move, Agilent Technologies showcased its expanded InfinityLab GPC/SEC Solution at the HPLC Conference 2023 in Düsseldorf. The solution includes a dedicated column thermostat, multi-angle light scattering detector, GPC/SEC-Ready Kit, and WinGPC Software for advanced material characterization.
Additionally, Agilent's 1260 Infinity II Hybrid Multisampler, 1290 Infinity II Bio Online Sample Manager and Revident Quadrupole Time-of-Flight LC/MS System were also displayed at the HPLC 2023 conference.
Further, Agilent Technologies introduced new liquid chromatography mass spectrometry systems, Agilent 6495D LC/TQ and Revident LC/Q-TOF, along with new software for profiling and library management, ensuring high analytical sensitivity and efficiency for fast, high-quality data and early maintenance feedback for optimal performance.
Also, Agilent launched the Agilent 8697 Headspace Sampler -XL Tray, offering 120 vial capacity and enhanced instrument intelligence features for increased uptime and operator ease of use compared to its predecessor.
All these endeavors are likely to aid the performance of the LSAG segment in the days ahead.
However, the sluggish pharma market continues to remain a concern.
Our model estimate for LSAG revenues for fiscal 2023 is pegged at $3.85 billion, indicating a decline of 3.9% from the fiscal 2022 level.
Zacks Rank & Stocks to Consider
Currently, Agilent carries a Zacks Rank #5 (Strong Sell).
Some better-ranked stocks in the broader technology sector are Asure Software ASUR, Applied Materials AMAT and Arista Networks ANET. While Asure Software and Applied Materials sport a Zacks Rank #1 (Strong Buy) each, Arista Networks carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Asure Software shares have lost 2% in the year-to-date period. ASUR’s long-term earnings growth rate is currently projected at 27%.
Applied Materials shares have gained 43.9% in the year-to-date period. AMAT’s long-term earnings growth rate is currently projected at 6.10%.
Arista Networks shares have gained 61.8% in the year-to-date period. The long-term earnings growth rate for ANET is currently projected at 18.75%
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Agilent Technologies, Inc. (A) : Free Stock Analysis Report
Applied Materials, Inc. (AMAT) : Free Stock Analysis Report
Asure Software Inc (ASUR) : Free Stock Analysis Report
Arista Networks, Inc. (ANET) : 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. | Per an MMR research report, the global NTD diagnosis market size is expected to reach $8.97 billion by 2029, exhibiting a CAGR of 4.5% between 2022 and 2029. A Grand View Research report predicts the global NTD diagnosis market size to witness a CAGR of 4.5% during the forecast period of 2023-2030. The solution includes a dedicated column thermostat, multi-angle light scattering detector, GPC/SEC-Ready Kit, and WinGPC Software for advanced material characterization. | Some better-ranked stocks in the broader technology sector are Asure Software ASUR, Applied Materials AMAT and Arista Networks ANET. While Asure Software and Applied Materials sport a Zacks Rank #1 (Strong Buy) each, Arista Networks carries a Zacks Rank #2 (Buy). Click to get this free report Agilent Technologies, Inc. (A) : Free Stock Analysis Report Applied Materials, Inc. (AMAT) : Free Stock Analysis Report Asure Software Inc (ASUR) : Free Stock Analysis Report Arista Networks, Inc. (ANET) : Free Stock Analysis Report To read this article on Zacks.com click here. | Agilent Technologies, Inc. Price and Consensus Agilent Technologies, Inc. price-consensus-chart | Agilent Technologies, Inc. Quote Growth Prospects We believe that the latest move will strengthen the company’s footing in the global neglected tropical diseases diagnosis market. Further, Agilent Technologies introduced new liquid chromatography mass spectrometry systems, Agilent 6495D LC/TQ and Revident LC/Q-TOF, along with new software for profiling and library management, ensuring high analytical sensitivity and efficiency for fast, high-quality data and early maintenance feedback for optimal performance. Click to get this free report Agilent Technologies, Inc. (A) : Free Stock Analysis Report Applied Materials, Inc. (AMAT) : Free Stock Analysis Report Asure Software Inc (ASUR) : Free Stock Analysis Report Arista Networks, Inc. (ANET) : Free Stock Analysis Report To read this article on Zacks.com click here. | Notably, Agilent's 6475 LC/MS, which utilizes iFunnel technologies, will aid SIDC's research on tropical medicines and infectious diseases, enabling rapid outbreak response through extensive research and diagnostic capabilities. Agilent Technologies, Inc. Price and Consensus Agilent Technologies, Inc. price-consensus-chart | Agilent Technologies, Inc. Quote Growth Prospects We believe that the latest move will strengthen the company’s footing in the global neglected tropical diseases diagnosis market. Some better-ranked stocks in the broader technology sector are Asure Software ASUR, Applied Materials AMAT and Arista Networks ANET. | a725bd50-85f0-4087-bf60-9b5fb28f40ae |
33.0 | 2023-10-05 00:00:00 UTC | Q4 Stock Predictions: 3 S&P 500 Stocks Ready to Soar | A | https://www.nasdaq.com/articles/q4-stock-predictions%3A-3-sp-500-stocks-ready-to-soar | nan | nan | InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Stocks ended the third quarter on a sour note. The Federal Reserve’s aggressive posture against inflation combined with soaring interest rates have investors taking defensive measures.
But it’s not time to give up on the stock market. In fact, thanks to the recent selling, bargains are springing up across many S&P 500 stocks.
Let’s examine three that will benefit from current market conditions and rally heading into 2024.
Wells Fargo (WFC)
Source: Ken Wolter / Shutterstock.com
Wells Fargo (NYSE:WFC) is one of the big banks that is thriving amid the industry’s correction. That’s because Wells Fargo did not aggressively expand its balance sheet or buy overvalued securities over the past few years.
True, investors have shunned nearly all financials stocks this year amid unprecedented volatility in the interest rate markets. Banks that were positioned poorly, like First Republic and Silicon Valley, ended up going bust. And others are suffering from falling profitability and strained balance sheets at the present time.
Meanwhile, Wells Fargo has positioned its balance sheet to earn far more profits as interest rates rise. And those rates are normally beneficial to the banking sector as a whole. For firms like Wells Fargo that managed their risks and exposures properly, that remains true in 2023.
Specifically, Wells Fargo’s net interest margin (NIM), the spread between its loan interest and deposit payments, has soared from 2.2% in Q2 of last year to 3.1% today. With a near 50% jump in core profitability on its loan book, it’s no wonder that Wells Fargo is reporting rising earnings. WFC stock hasn’t yet snapped out of the industrywide doldrums. As a result, shares go for just eight times forward earnings today.
Charles River Laboratories (CRL)
Source: IgorGolovniov / Shutterstock.com
Charles River Laboratories (NYSE:CRL) is a leading healthcare company focused on providing lab tools and services related to pharmaceutical drug development.
Historically, it’s been the dominant player in animal models. Specifically, Charles River procures, breeds, and distributes lab rats, mice, rabbits, and non-human primates. The last one got Charles River in trouble, as the company was implicated in an investigation into alleged macaque smuggling in Cambodia. However, as of last quarter, Charles River has been able to resolve its sourcing issues around non-human primates.
More broadly, CRL stock has slumped amid the slowdown in the biotech industry. With smaller biotech companies struggling to obtain funding, Charles River is experiencing less trials and revenue-generating business. Yet, it’s only a matter of time until biotech funding rises again, given the priority to find cures for rare diseases.
CRL will inevitably be part of those future cures. In fact, the company was involved in developing more than 80% of all drugs that received FDA approval since 2020. In effect, Charles River is a tax on the entire biotech industry, with their consistent postings of compounded earnings per share growth rate in the teens since the turn of the century.
Thanks to the recent scandal and biotech industry’s slump, CRL shares are now on sale at an unusually low 18 times forward earnings.
Keysight Technologies (KEYS)
Source: Funtap / Shutterstock.com
Keysight Technologies (NYSE:KEYS) is a company that provides testing, product quality, and design solutions to technology companies. The firm has an interesting history.
Keysight sprung up originally as Hewlett-Packard‘s Test & Measurement division more than half a century ago, and was ultimately spun off from Agilent (NYSE:A) into its own publicly-traded entity in 2014.
KEYS stock has been incredibly successful over the past decade. Since 2014, shares jumped from $30 to a peak of more than $200. However, Keysight has fallen amid a slowdown in telecom and information technology spending over the past year. That has led KEYS stock to slide back to around $130 today.
The weakness makes sense, as Keysight is heavily involved in quality control and testing for telecom companies. With 5G rollouts seeing an underwhelming debut as compared to expectations, that has cast a shadow on industry vendors. Other Keysight segments such as services for edge computing and RFID functions have slipped as demand levels off following an unusually robust 2021 and 2022.
Indeed, the market is blowing the situation way out of proportion. KEYS stock is down to 16 times forward earnings, which is quite the discount for a tech company that has reliably posted double-digit earnings growth. It’s only a matter of time until telecom spending picks back up given the ever-growing demand for mobile data.
Also, Keysight is active in emerging growth fields such as AI and next-generation semiconductors. Investors should take advantage of the current dip in KEYS stock.
On the date of publication, Ian Bezek held a long position in KEYS, CRL, and WFC stock. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
Ian Bezek has written more than 1,000 articles for InvestorPlace.com and Seeking Alpha. He also worked as a Junior Analyst for Kerrisdale Capital, a $300 million New York City-based hedge fund. You can reach him on Twitter at @irbezek.
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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 Federal Reserve’s aggressive posture against inflation combined with soaring interest rates have investors taking defensive measures. In effect, Charles River is a tax on the entire biotech industry, with their consistent postings of compounded earnings per share growth rate in the teens since the turn of the century. Keysight sprung up originally as Hewlett-Packard‘s Test & Measurement division more than half a century ago, and was ultimately spun off from Agilent (NYSE:A) into its own publicly-traded entity in 2014. | Wells Fargo (WFC) Source: Ken Wolter / Shutterstock.com Wells Fargo (NYSE:WFC) is one of the big banks that is thriving amid the industry’s correction. Charles River Laboratories (CRL) Source: IgorGolovniov / Shutterstock.com Charles River Laboratories (NYSE:CRL) is a leading healthcare company focused on providing lab tools and services related to pharmaceutical drug development. Keysight Technologies (KEYS) Source: Funtap / Shutterstock.com Keysight Technologies (NYSE:KEYS) is a company that provides testing, product quality, and design solutions to technology companies. | InvestorPlace - Stock Market News, Stock Advice & Trading Tips Stocks ended the third quarter on a sour note. Charles River Laboratories (CRL) Source: IgorGolovniov / Shutterstock.com Charles River Laboratories (NYSE:CRL) is a leading healthcare company focused on providing lab tools and services related to pharmaceutical drug development. Keysight Technologies (KEYS) Source: Funtap / Shutterstock.com Keysight Technologies (NYSE:KEYS) is a company that provides testing, product quality, and design solutions to technology companies. | But it’s not time to give up on the stock market. True, investors have shunned nearly all financials stocks this year amid unprecedented volatility in the interest rate markets. Meanwhile, Wells Fargo has positioned its balance sheet to earn far more profits as interest rates rise. | c2253c1e-3bc8-4a96-ab87-7f4fbde201c7 |
34.0 | 2023-09-29 00:00:00 UTC | Barclays Maintains Agilent Technologies (A) Underweight Recommendation | A | https://www.nasdaq.com/articles/barclays-maintains-agilent-technologies-a-underweight-recommendation-0 | nan | nan | Fintel reports that on September 29, 2023, Barclays maintained coverage of Agilent Technologies (NYSE:A) with a Underweight recommendation.
Analyst Price Forecast Suggests 26.87% Upside
As of August 31, 2023, the average one-year price target for Agilent Technologies is 142.10. The forecasts range from a low of 111.10 to a high of $171.15. The average price target represents an increase of 26.87% from its latest reported closing price of 112.00.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Agilent Technologies is 7,130MM, an increase of 1.94%. The projected annual non-GAAP EPS is 5.77.
What is the Fund Sentiment?
There are 1926 funds or institutions reporting positions in Agilent Technologies. This is a decrease of 104 owner(s) or 5.12% in the last quarter. Average portfolio weight of all funds dedicated to A is 0.31%, a decrease of 19.13%. Total shares owned by institutions decreased in the last three months by 1.89% to 296,536K shares.
The put/call ratio of A is 0.70, indicating a bullish outlook.
What are Other Shareholders Doing?
Massachusetts Financial Services holds 11,037K shares representing 3.77% ownership of the company. In it's prior filing, the firm reported owning 8,907K shares, representing an increase of 19.30%. The firm increased its portfolio allocation in A by 3.73% over the last quarter.
T. Rowe Price Investment Management holds 9,968K shares representing 3.41% ownership of the company. In it's prior filing, the firm reported owning 9,277K shares, representing an increase of 6.93%. The firm decreased its portfolio allocation in A by 11.26% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 9,177K shares representing 3.14% ownership of the company. In it's prior filing, the firm reported owning 9,160K shares, representing an increase of 0.18%. The firm decreased its portfolio allocation in A by 19.66% over the last quarter.
Wellington Management Group Llp holds 8,736K shares representing 2.99% ownership of the company. In it's prior filing, the firm reported owning 12,057K shares, representing a decrease of 38.01%. The firm decreased its portfolio allocation in A by 39.89% over the last quarter.
Price T Rowe Associates holds 8,054K shares representing 2.75% ownership of the company. In it's prior filing, the firm reported owning 8,219K shares, representing a decrease of 2.05%. The firm increased its portfolio allocation in A by 78.88% over the last quarter.
Agilent Technologies Background Information
(This description is provided by the company.)
Agilent Technologies Inc. is a global leader in life sciences, diagnostics, and applied chemical markets, delivering insight and innovation toward improving the quality of life. Agilent instruments, software, services, solutions, and people provide trusted answers to customers' most challenging questions. The company generated revenue of $5.34 billion in fiscal year 2020 and employs 16,400 people worldwide.
Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.
Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.
Click to Learn More
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Fintel reports that on September 29, 2023, Barclays maintained coverage of Agilent Technologies (NYSE:A) with a Underweight recommendation. Agilent instruments, software, services, solutions, and people provide trusted answers to customers' most challenging questions. Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds. | T. Rowe Price Investment Management holds 9,968K shares representing 3.41% ownership of the company. VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 9,177K shares representing 3.14% ownership of the company. Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. | VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 9,177K shares representing 3.14% ownership of the company. In it's prior filing, the firm reported owning 12,057K shares, representing a decrease of 38.01%. In it's prior filing, the firm reported owning 8,219K shares, representing a decrease of 2.05%. | The projected annual revenue for Agilent Technologies is 7,130MM, an increase of 1.94%. Massachusetts Financial Services holds 11,037K shares representing 3.77% ownership of the company. T. Rowe Price Investment Management holds 9,968K shares representing 3.41% ownership of the company. | b6160bbf-87e2-417a-8536-0fddcbe0f2ee |
40.0 | 2023-09-15 00:00:00 UTC | Notable Friday Option Activity: PRGS, POOL, A | A | https://www.nasdaq.com/articles/notable-friday-option-activity%3A-prgs-pool-a | nan | nan | Among the underlying components of the Russell 3000 index, we saw noteworthy options trading volume today in Progress Software Corp (Symbol: PRGS), where a total of 1,216 contracts have traded so far, representing approximately 121,600 underlying shares. That amounts to about 53.8% of PRGS's average daily trading volume over the past month of 226,140 shares. Particularly high volume was seen for the $50 strike put option expiring October 20, 2023, with 502 contracts trading so far today, representing approximately 50,200 underlying shares of PRGS. Below is a chart showing PRGS's trailing twelve month trading history, with the $50 strike highlighted in orange:
Pool Corp (Symbol: POOL) saw options trading volume of 1,502 contracts, representing approximately 150,200 underlying shares or approximately 53.3% of POOL's average daily trading volume over the past month, of 282,025 shares. Especially high volume was seen for the $360 strike put option expiring September 15, 2023, with 501 contracts trading so far today, representing approximately 50,100 underlying shares of POOL. Below is a chart showing POOL's trailing twelve month trading history, with the $360 strike highlighted in orange:
And Agilent Technologies, Inc. (Symbol: A) saw options trading volume of 8,847 contracts, representing approximately 884,700 underlying shares or approximately 52.8% of A's average daily trading volume over the past month, of 1.7 million shares. Particularly high volume was seen for the $130 strike call option expiring October 20, 2023, with 1,666 contracts trading so far today, representing approximately 166,600 underlying shares of A. Below is a chart showing A's trailing twelve month trading history, with the $130 strike highlighted in orange:
For the various different available expirations for PRGS options, POOL options, or A options, visit StockOptionsChannel.com.
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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. | Particularly high volume was seen for the $50 strike put option expiring October 20, 2023, with 502 contracts trading so far today, representing approximately 50,200 underlying shares of PRGS. Especially high volume was seen for the $360 strike put option expiring September 15, 2023, with 501 contracts trading so far today, representing approximately 50,100 underlying shares of POOL. Particularly high volume was seen for the $130 strike call option expiring October 20, 2023, with 1,666 contracts trading so far today, representing approximately 166,600 underlying shares of A. | Particularly high volume was seen for the $50 strike put option expiring October 20, 2023, with 502 contracts trading so far today, representing approximately 50,200 underlying shares of PRGS. Below is a chart showing PRGS's trailing twelve month trading history, with the $50 strike highlighted in orange: Pool Corp (Symbol: POOL) saw options trading volume of 1,502 contracts, representing approximately 150,200 underlying shares or approximately 53.3% of POOL's average daily trading volume over the past month, of 282,025 shares. Below is a chart showing POOL's trailing twelve month trading history, with the $360 strike highlighted in orange: And Agilent Technologies, Inc. (Symbol: A) saw options trading volume of 8,847 contracts, representing approximately 884,700 underlying shares or approximately 52.8% of A's average daily trading volume over the past month, of 1.7 million shares. | Among the underlying components of the Russell 3000 index, we saw noteworthy options trading volume today in Progress Software Corp (Symbol: PRGS), where a total of 1,216 contracts have traded so far, representing approximately 121,600 underlying shares. Below is a chart showing PRGS's trailing twelve month trading history, with the $50 strike highlighted in orange: Pool Corp (Symbol: POOL) saw options trading volume of 1,502 contracts, representing approximately 150,200 underlying shares or approximately 53.3% of POOL's average daily trading volume over the past month, of 282,025 shares. Below is a chart showing POOL's trailing twelve month trading history, with the $360 strike highlighted in orange: And Agilent Technologies, Inc. (Symbol: A) saw options trading volume of 8,847 contracts, representing approximately 884,700 underlying shares or approximately 52.8% of A's average daily trading volume over the past month, of 1.7 million shares. | Below is a chart showing PRGS's trailing twelve month trading history, with the $50 strike highlighted in orange: Pool Corp (Symbol: POOL) saw options trading volume of 1,502 contracts, representing approximately 150,200 underlying shares or approximately 53.3% of POOL's average daily trading volume over the past month, of 282,025 shares. Especially high volume was seen for the $360 strike put option expiring September 15, 2023, with 501 contracts trading so far today, representing approximately 50,100 underlying shares of POOL. Below is a chart showing A's trailing twelve month trading history, with the $130 strike highlighted in orange: For the various different available expirations for PRGS options, POOL options, or A options, visit StockOptionsChannel.com. | 8df6c6dc-1e0c-4df3-8700-f25be40c3481 |
44.0 | 2023-09-05 00:00:00 UTC | Illumina names Agilent exec Jacob Thaysen as CEO | A | https://www.nasdaq.com/articles/illumina-names-agilent-exec-jacob-thaysen-as-ceo | nan | nan | Adds background in paragraphs 2-3
Sept 5 (Reuters) - Illumina Inc ILMN.O said on Tuesday its board has named Agilent Technologies' A.N executive Jacob Thaysen as the U.S. genetic testing company's CEO.
Thaysen would replace Charles Dadswell, who has been serving as Illumina's interim CEO since June.
The appointment comes months after Illumina's former CEO Francis deSouza stepped down, marking a victory for activist investor Carl Icahn.
Thaysen's appointment would become effective Sept. 25.
(Reporting by Manas Mishra and Bhanvi Satija in Bengaluru; Editing by Shilpi Majumdar)
((Manas.Mishra@thomsonreuters.com; www.twitter.com/Manaswrites15;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Adds background in paragraphs 2-3 Sept 5 (Reuters) - Illumina Inc ILMN.O said on Tuesday its board has named Agilent Technologies' A.N executive Jacob Thaysen as the U.S. genetic testing company's CEO. Thaysen would replace Charles Dadswell, who has been serving as Illumina's interim CEO since June. The appointment comes months after Illumina's former CEO Francis deSouza stepped down, marking a victory for activist investor Carl Icahn. | Thaysen would replace Charles Dadswell, who has been serving as Illumina's interim CEO since June. Thaysen's appointment would become effective Sept. 25. (Reporting by Manas Mishra and Bhanvi Satija in Bengaluru; Editing by Shilpi Majumdar) ((Manas.Mishra@thomsonreuters.com; www.twitter.com/Manaswrites15;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Adds background in paragraphs 2-3 Sept 5 (Reuters) - Illumina Inc ILMN.O said on Tuesday its board has named Agilent Technologies' A.N executive Jacob Thaysen as the U.S. genetic testing company's CEO. The appointment comes months after Illumina's former CEO Francis deSouza stepped down, marking a victory for activist investor Carl Icahn. (Reporting by Manas Mishra and Bhanvi Satija in Bengaluru; Editing by Shilpi Majumdar) ((Manas.Mishra@thomsonreuters.com; www.twitter.com/Manaswrites15;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Adds background in paragraphs 2-3 Sept 5 (Reuters) - Illumina Inc ILMN.O said on Tuesday its board has named Agilent Technologies' A.N executive Jacob Thaysen as the U.S. genetic testing company's CEO. Thaysen would replace Charles Dadswell, who has been serving as Illumina's interim CEO since June. The appointment comes months after Illumina's former CEO Francis deSouza stepped down, marking a victory for activist investor Carl Icahn. | 551877a4-e207-45dc-8318-1e5b804da282 |
46.0 | 2023-08-31 00:00:00 UTC | Building Wealth with Spinoffs: How Adding These Gems Can Transform Your Portfolio | A | https://www.nasdaq.com/articles/building-wealth-with-spinoffs%3A-how-adding-these-gems-can-transform-your-portfolio | nan | nan | Imagine discovering a treasure map that leads to the chest containing the loot. Consider that the investment world has its own version of these concealed treasures: Spinoffs. These financial treasures have the potential to reshape your entire investment voyage, not just enhance your portfolio. The catch? You must look for them and do some work. A tough ask, I know.
What is A Spinoff?
In a Spinoff, a parent company separates one of its business entities or divisions into a standalone, independent company. By distributing shares of the spun-off company to the current proprietors of the parent, two separate publicly listed entities are created. The new enterprise that emerges because of a Spinoff is often referred to as a "Spinoff company." Spinoffs can increase shareholder value by allowing distinct companies to focus on their core competencies and releasing hidden value in specific business divisions. In addition, it offers investors the option to invest in various companies based on their investment preferences and risk tolerance. Or, alternatively, eradicate them.
The media frequently gets it wrong when speaking about Spinoffs. This is a very important point to remember. A ‘true’ Spinoff only happens when a share of a division is distributed amongst existing shareholders that own the parent company. Contrary to the media, IPOs, Divestitures, carve-outs, split-offs, and split-ups are not Spinoffs and consequently, these transactions lose many of the value creating dynamics of the Spinoff corporate action. Cross-reference information from various trustworthy sources, particularly official business communication. To fully comprehend the Spinoff and its ramifications, investors should also look for information from reliable financial analysts, subject-matter experts, and formal regulatory filings, such as those with the Securities and Exchange Commission (SEC).
Do Spinoffs Outperform?
The “Spinoff” is an essentially inefficient method for distributing stock to the incorrect individuals. You receive shares whether you desire them or not. Typically, investors acquire these shares by default and sell them on the open market almost immediately, making them inexpensive companies that no one is interested in. They are occasionally referred to as "orphan securities." At this point, X marks the location, and digging should commence.
Why the dynamics of Spinoffs make it an essential area for an investor to analyze:
Studies have shown that Spinoffs have historically beaten the market by over 10 percent as the pure, newly focused business takes off.
Compensation for executives can be more closely correlated with business performance. The company will become smaller, which will increase the executives' motivation and sense of ownership.
Separating companies allows each entity to be properly valued and can sometimes unlock a “conglomerate discount."
Due to the likelihood that the company would be small and lack a roadshow, it is under-followed. As a result, there are more chances for investors to discover returns greater than the index.
The Edge Consulting Groups 20 year study shows that Spinoffs are likely to be taken over. Roughly 35 percent are acquired around the two-year mark post-Spinoff.
Typically, there are hundreds of Spinoff situations a year. Around 40 have over $1 billion in market cap. This is a sweet spot where liquidity and “real” companies come together in my opinion.
5 Reasons Why You Should Be Looking For These Situations
Including Spinoffs in your investment portfolio can provide a variety of benefits, including diversification, undervalued opportunities, and the potential for higher returns and enhanced performance.
1. Enhanced Diversification: Incorporating Spinoffs introduces a new layer of diversification. Since Spinoff companies often operate in different sectors than their parent companies, they can provide exposure to industries that might not have been represented in your portfolio. This helps spread risk and reduces the impact of negative events within a specific sector.
2. Undervalued Opportunities: Spinoffs are sometimes overlooked by the market, leading to potential undervaluation. This presents an opportunity for investors to purchase shares of promising companies at a lower price compared to their intrinsic value. As the market gradually recognizes their worth, these undervalued gems can yield substantial returns.
3. Focused Management: Spinoff companies can streamline operations and focus on their core competencies, which often leads to improved efficiency and performance. The management teams of these newly independent entities tend to be more agile and dedicated to the success of their specific business, potentially translating into better growth prospects.
4. Catalyst for Change: The newfound independence of a Spinoff can lead to strategic changes, such as cost-cutting initiatives, innovation, and targeted expansion plans. These changes can drive improved financial performance and boost shareholder value over time.
5. Potential for Outperformance: Historical data indicates that Spinoffs often outperform the broader market indices. This outperformance can be attributed to a combination of factors, including improved focus, better capital allocation decisions, and the market's eventual recognition of the Spinoff's value proposition.
Why isn’t Everybody Looking At Them?
I asked the legendary investor Joel Greenblatt this question once and he didn’t hesitate to give me the answer. ‘No one wants to do the work.’ Spinoffs analysis takes a lot of effort and, surprise, surprise, not many want to do it. However, as an investment veteran of over 30 years, I can categorically say that some of my most profitable ideas come from doing a hell of a lot of work and finding the angle and edge in the situation in this area. Furthermore, they are not promoted by brokers. Unlike an IPO there is no stock to sell you. You gain the Spinoff from holding the parent company whether you like it or not. This opens a whole range of dynamics that are interesting for investing.
Recent Spinoffs That You May Know
AbbVie (ABBV) (formerly known as Abbott Laboratories' biopharmaceutical business) was spun off from Abbott Laboratories in 2013. AbbVie has outperformed the S&P 500 by more than 200% since the spinoff.
Visa (V) was spun off from Bank of America (BAC) in 2008. Visa has outperformed the S&P 500 by more than 400% since Spinoff.
Mastercard (MA) was spun off from American Express (AXP) in 2006. Mastercard has outperformed the S&P 500 by more than 300% since Spinoff.
Agilent Technologies (A) was spun off from Hewlett-Packard (HPQ) in 1999. Agilent Technologies has outperformed the S&P 500 by more than 200% since the spinoff.
Johnson & Johnson's (JNJ) Life Sciences division was spun off as a separate company called Janssen Pharmaceutical Companies in 2017. Janssen Pharmaceutical Companies has outperformed the S&P 500 by more than 50% since the spinoff.
These are just a few examples of successful stock Spinoffs. There are many other examples, and the success of a spinoff can vary depending on several factors, such as the underlying business, the management team, and the market condition.
In Summary
If you are after hidden value where no one else is looking, look no further than this area of the market. There are services out there that can help, but ultimately a little hard work in a proven area will get you to some positive wealth creation a lot faster than competing with the masses.
On the date of publication, Jim Osman did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | To fully comprehend the Spinoff and its ramifications, investors should also look for information from reliable financial analysts, subject-matter experts, and formal regulatory filings, such as those with the Securities and Exchange Commission (SEC). The management teams of these newly independent entities tend to be more agile and dedicated to the success of their specific business, potentially translating into better growth prospects. This outperformance can be attributed to a combination of factors, including improved focus, better capital allocation decisions, and the market's eventual recognition of the Spinoff's value proposition. | Why the dynamics of Spinoffs make it an essential area for an investor to analyze: Studies have shown that Spinoffs have historically beaten the market by over 10 percent as the pure, newly focused business takes off. 5 Reasons Why You Should Be Looking For These Situations Including Spinoffs in your investment portfolio can provide a variety of benefits, including diversification, undervalued opportunities, and the potential for higher returns and enhanced performance. Focused Management: Spinoff companies can streamline operations and focus on their core competencies, which often leads to improved efficiency and performance. | In a Spinoff, a parent company separates one of its business entities or divisions into a standalone, independent company. The new enterprise that emerges because of a Spinoff is often referred to as a "Spinoff company." Why the dynamics of Spinoffs make it an essential area for an investor to analyze: Studies have shown that Spinoffs have historically beaten the market by over 10 percent as the pure, newly focused business takes off. | What is A Spinoff? In a Spinoff, a parent company separates one of its business entities or divisions into a standalone, independent company. Typically, investors acquire these shares by default and sell them on the open market almost immediately, making them inexpensive companies that no one is interested in. | a33f1c8a-6b97-4779-b619-ec0f8effbb7b |
49.0 | 2023-08-21 00:00:00 UTC | Buy the Drop: 3 Stocks to Snag After This Month’s 20% Tumble | A | https://www.nasdaq.com/articles/buy-the-drop%3A-3-stocks-to-snag-after-this-months-20-tumble | nan | nan | InvestorPlace - Stock Market News, Stock Advice & Trading Tips
August has been a great month for investors looking for bargain stocks to buy on the dip. The S&P 500, Dow Jones Industrial Average, and the Nasdaq 100 were down 2,1%, 2.0%, and 2.4%, respectively, for the week of Aug. 14-18. Barron’s believes that September could be worse. If the past week is any indication, they could be on to something.
Fundstrat analyst Tom Lee thinks August has been its typical mercurial self where gains are hard to come by and that the good times should return soon. Baron’s reported Lee’s comments from his Aug. 18 note to clients:
“[T]he month’s declines haven’t shaken Lee’s core bullish thesis. ‘We see this more as ‘it’s August’ rather than the start of a larger rout…we are not in the camp this spills over into a wider selloff. That could happen, but more bad things need to emerge. In fact, there are some signs that we could see the stocks begin to stabilize soon.’”
So, if you’re a risk-averse investor, you might want to wait a couple of weeks to see if the markets bottom.
In the meantime, a quick screen of S&P 500 stocks down more than 20% over the past month gives bargain-hunting investors 14 stocks to choose from. Here are three undervalued due to their 20%, including one name from three different sectors.
Sealed Air (SEE)
Source: Shutterstock
Sealed Air (NYSE:SEE) represents the materials sector. Its stock is down 25% for the past month and 31% year-to-date.
Analysts are moderately optimistic about the stock, with 7 of the 15 rating it as Overweight or an outright Buy. It’s target price is $45 which is 31% higher than its current share price.
One of the things that I use to assess value is free cash flow yield. If it’s over 8%, it’s definitely value. Between 4% and 8%, it’s reasonable value, if not dirt cheap. In the trailing 12 months ended June 30, its free cash flow was $152 million. Based on an enterprise value of $9.78 billion, it has a free cash flow yield of 1.6%, which suggests it’s not cheap.
Before you toss the company best known for bubble wrap packaging overboard, consider its historical FCF yield. In 2020, it had a free cash flow of $556 million. Based on an enterprise value of $10.6 billion. At first glance, it appears Sealed Air’s business has deteriorated.
And to a certain extent, it has, which is why it’s moving forwqard with SEE 2.0. This revitalization plan should deliver $150 million in annual cost savings by the end of 2025 and a return to its historical earnings and sales growth in 2024.
Its stock hasn’t been this low since June 2020. Get ready for a revival in the waning months of 2023 and into 2024.
Keysight Technologies (KEYS)
Source: fantasyform/Shutterstock.com
Keysight Technologies (NYSE:KEYS) represents the tech sector. Its stock is down 23% for the past month and 24% year-to-date. Like Sealed Air, it hasn’t traded this low since 2020.
Keysight is a relatively new company by S&P 500 standards, incorporated in 2013. However, its history dates back to 1939 and Hewlett-Packard’s founding by Bill Hewlett and Dave Packard. Their first product was an audio oscillator. Electronic measurement was their business.
In 1999, Agilent Technologies (NYSE:A) was formed to operate HP’s Medical Products and Instrument Group. In 2013, Agilent was split into two pure-play electronic measurement companies. Keysight was the one of the two, going public on November 1, 2014 after separating from Agilent. Agilent shareholders got one share of Keysight for two held by the parent.
KEYS stock is up 335% since it began trading in November 2014. Agilent is up 191% over the same period.
Shares have lost their mojo recently because the company reported Q3 2023 results on August 18th that included a downward revision of its guidance. It now expects fourth-quarter sales and earnings to decline by 10% and 13%, respectively.
Currently trading at 4.16x sales — less than its five-year average of 5.1x — its enterprise value of $22.5 billion is 12.87x its earnings before interest, taxes, depreciation and amortization (EBITDA). That’s lower than it’s been since 2016.
ResMed (RMD)
Source: Vitalii Vodolazskyi / Shutterstock
ResMed (NYSE:RMD) represents the healthcare sector. Its stock is down 25% for the past month and 21% year-to-date. Like the other two, it hasn’t traded this low since 2020.
Interestingly, ResMed’s business is probably doing the best in terms of top-line growth among the trio, up 23% in Q4 2023 and 18% for all of 2023 to $4.2 billion. However, investors began to abandon the stock after hearing its gross margin (56.5%) and operating margin (29.0%) dropped for the year.
All of its stock losses in 2023 are post-earnings. Investors have rightly or wrongly decided that the contraction of its margins in light of double-digit revenue growth suggests the quality of the sales increase for the maker of sleep apnea equipment is suspect.
ResMed CEO Mick Farrell is very confident about the future. He stated in the Q4 2023 conference call:
“Patient demand continues to drive increased adoption and utilization of our mask resupply programs, augmenting a steady cadence of new patient setups. We continue to see strong growth in both the U.S. business where provider resupply programs have augmented growth and in our markets outside the U.S. where our consumer outreach and subscription programs are also driving mass replenishment directly with those end user patients.”
Of the 24 analysts covering the stock, 18 rate it Overweight or an outright Buy with a $240 median price, 45% higher than its current share price.
I see ResMed as the best long-term hold of the trio, although all three should make you money over 3-5 years.
On the date of publication, Will Ashworth did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
Will Ashworth has written about investments full-time since 2008. Publications where he’s appeared include InvestorPlace, The Motley Fool Canada, Investopedia, Kiplinger, and several others in both the U.S. and Canada. He particularly enjoys creating model portfolios that stand the test of time. He lives in Halifax, Nova Scotia.
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The Rich Use This Income Secret (NOT Dividends) Far More Than Regular Investors
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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. | Investors have rightly or wrongly decided that the contraction of its margins in light of double-digit revenue growth suggests the quality of the sales increase for the maker of sleep apnea equipment is suspect. More From InvestorPlace ChatGPT IPO Could Shock the World, Make This Move Before the Announcement Musk’s “Project Omega” May Be Set to Mint New Millionaires. The Rich Use This Income Secret (NOT Dividends) Far More Than Regular Investors The post Buy the Drop: 3 Stocks to Snag After This Month’s 20% Tumble appeared first on InvestorPlace. | Sealed Air (SEE) Source: Shutterstock Sealed Air (NYSE:SEE) represents the materials sector. Keysight Technologies (KEYS) Source: fantasyform/Shutterstock.com Keysight Technologies (NYSE:KEYS) represents the tech sector. We continue to see strong growth in both the U.S. business where provider resupply programs have augmented growth and in our markets outside the U.S. where our consumer outreach and subscription programs are also driving mass replenishment directly with those end user patients.” Of the 24 analysts covering the stock, 18 rate it Overweight or an outright Buy with a $240 median price, 45% higher than its current share price. | InvestorPlace - Stock Market News, Stock Advice & Trading Tips August has been a great month for investors looking for bargain stocks to buy on the dip. In the meantime, a quick screen of S&P 500 stocks down more than 20% over the past month gives bargain-hunting investors 14 stocks to choose from. We continue to see strong growth in both the U.S. business where provider resupply programs have augmented growth and in our markets outside the U.S. where our consumer outreach and subscription programs are also driving mass replenishment directly with those end user patients.” Of the 24 analysts covering the stock, 18 rate it Overweight or an outright Buy with a $240 median price, 45% higher than its current share price. | InvestorPlace - Stock Market News, Stock Advice & Trading Tips August has been a great month for investors looking for bargain stocks to buy on the dip. Keysight was the one of the two, going public on November 1, 2014 after separating from Agilent. Interestingly, ResMed’s business is probably doing the best in terms of top-line growth among the trio, up 23% in Q4 2023 and 18% for all of 2023 to $4.2 billion. | 0b5501ab-016d-49c1-97a9-b98e10b464f0 |
50.0 | 2023-08-18 00:00:00 UTC | These 3 Unusually Active Options Have 1 Thing in Common | A | https://www.nasdaq.com/articles/these-3-unusually-active-options-have-1-thing-in-common | nan | nan | As I write this, it’s approaching noon Friday on the east coast. The major indexes are either down or flat on the day. Stocks appear headed for their worst week since March.
Investors are worried about many subjects, including further interest rate hikes, higher bond yields, and a faltering Chinese economy.
While I can’t promise you a rose garden regarding these subjects, I can tell you that it can always be worse. Think March 2009 or March 2020.
My task on Fridays is to discuss unusual options activities that I find particularly interesting. The three options that have caught my attention today have one thing in common.
By the end, you ought to know what it is.
Happy Weekend!
Agilent Technologies
The first to catch my attention involves selling Agilent Technologies (A) put options. As I write this, one put and one call exhibits unusual options activity. While the call gives you a low ask price, I'm going with the Nov. 17 $115 put.
The bid price on this Agilent put is $3.70. Based on a share price of $119.63, we’re looking at an annualized yield of 12.4%. With 91 days to expiry, the volume is 828, or 2.55x open interest.
Currently, $4.63 above the strike, there is a real possibility that the put buyer will make you buy the shares at the strike. In that case, you’re not losing money until it falls to $111.30.
Over the past year, Agilent stock hasn’t traded that low, with a 52-week low of $113.28. The last time its shares consistently traded below $111 was in late 2020.
The odds are good that it might hit $115, but $111.30 is much less likely. I’m no technical analysis guru, but it does appear its shares bottomed in June.
I know what you’re thinking: Didn’t the company give its guidance on China concerns? It sure did.
On Wednesday, it said it expects revenue of $6.80 billion for its fiscal year, down from its previous guidance of $6.93 billion. On the bottom line, its earnings per share estimate has dropped by 20 cents to $5.40 at the low end of its guidance.
There you have it: approximately $130 million less revenue and 20 cents per share. The EPS estimate revision translates to less than a 4% cut in earnings.
Currently trading at 22.5x earnings, the maker of lab instruments is in value territory. Having traded near $180 as recently as September 2021, this is a good entry point.
Ford
Another stock that’s fallen out of favor with investors is Ford (F). Its shares are down 26% over the past year. Investors might be skeptical about its electric vehicle plans.
On Aug. 17, it announced that it and a consortium of companies would invest $887 million to build a plant in Becancour, Quebec, to produce EV battery materials. When the plant gets up to speed, it will be capable of producing 45,000 tonnes of cathode active materials (CAM).
“This cathode facility will supply the material that goes into Ford’s future EVs in North America, specifically some of our future trucks,” Lisa Drake, Ford vice president for EVs, told reporters.
As part of the investment, the Canadian government will make a CAD$322 million condition loan, while the Quebec government will kick in a similar amount on a forgivable basis. The plant’s expected to open in 2026.
I mention this because Ford recently reported healthy Q2 2023 earnings of $1.9 billion, a three-fold increase from a year ago. However, the iconic Detroit automaker said its EV business lost $1.1 billion on an EBIT basis during the quarter, more than double its loss in Q2 2022. In 2023, it expects EBIT losses of $4.5 billion, $1.5 billion more than expected.
Ford isn’t alone here.
Almost every company with a presence in EVs is losing money and ratcheting their production outputs lower to recognize that the uptake by consumers, especially in North America, will be slower than anticipated.
As soon as the charging networks are up to snuff in North America, EV production will rocket higher. It will take patience from investors.
The put to sell is the Sept. 8 $12 strike with a bid price of $0.38 for a net price of $11.62. That’s an annualized yield of 55.6% should its share price fail to remain under $12 by September.
With a 52-week low of $10.90, you aren’t likely to lose much on the trade, even if it falls into the low $11s. Long-term, Ford’s going to be a player in EVs.
U.S. Steel
The iconic but oft-struggled U.S. steelmaker is possibly in the final throes of being sold to one of its competitors. Who it will be, we still don’t know. However, one thing is sure: U.S. Steel’s (X) final sale price will increase.
Cleveland-Cliffs (CLF) has already offered $35 in cash and stock. That was rejected. Privately held Esmark has also made an unsolicited bid that’s been rejected by the company.
Where this goes is anyone’s guess.
However, if you sell the Aug. 25 $28.50 put, you’re looking at an annualized yield of almost 20%, with virtually no chance you’ll be asked to buy the shares. Keep selling puts weekly at a sub-$30 strike until the deal is done.
Sure, if everything goes away and there is no sale, the stock price could crater into the $20s, but by then, you might have rolled the dice on three or four occasions, pocketing more than enough premium income to account for any decline.
Consider this my M&A arbitrage bet.
Have you figured out the one thing these three stocks have in common? They all have single-letter stock symbols.
More Options News from Barchart
Walmart's Better Than Expected Earnings and FCF Could Push WMT Stock Higher Here’s the Real Lowdown of Ross Stores’ (ROST) Q2 Report Somebody Really Must Like Suncor Given Its Unusual Options Activity Attention Speculators: Going Long Discover Financial Services (DFS) Might Not Be a Bad Idea
On the date of publication, Will Ashworth did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Investors are worried about many subjects, including further interest rate hikes, higher bond yields, and a faltering Chinese economy. Almost every company with a presence in EVs is losing money and ratcheting their production outputs lower to recognize that the uptake by consumers, especially in North America, will be slower than anticipated. More Options News from Barchart Walmart's Better Than Expected Earnings and FCF Could Push WMT Stock Higher Here’s the Real Lowdown of Ross Stores’ (ROST) Q2 Report Somebody Really Must Like Suncor Given Its Unusual Options Activity Attention Speculators: Going Long Discover Financial Services (DFS) Might Not Be a Bad Idea On the date of publication, Will Ashworth did not have (either directly or indirectly) positions in any of the securities mentioned in this article. | Agilent Technologies The first to catch my attention involves selling Agilent Technologies (A) put options. Over the past year, Agilent stock hasn’t traded that low, with a 52-week low of $113.28. On Aug. 17, it announced that it and a consortium of companies would invest $887 million to build a plant in Becancour, Quebec, to produce EV battery materials. | Over the past year, Agilent stock hasn’t traded that low, with a 52-week low of $113.28. “This cathode facility will supply the material that goes into Ford’s future EVs in North America, specifically some of our future trucks,” Lisa Drake, Ford vice president for EVs, told reporters. More Options News from Barchart Walmart's Better Than Expected Earnings and FCF Could Push WMT Stock Higher Here’s the Real Lowdown of Ross Stores’ (ROST) Q2 Report Somebody Really Must Like Suncor Given Its Unusual Options Activity Attention Speculators: Going Long Discover Financial Services (DFS) Might Not Be a Bad Idea On the date of publication, Will Ashworth did not have (either directly or indirectly) positions in any of the securities mentioned in this article. | On the bottom line, its earnings per share estimate has dropped by 20 cents to $5.40 at the low end of its guidance. “This cathode facility will supply the material that goes into Ford’s future EVs in North America, specifically some of our future trucks,” Lisa Drake, Ford vice president for EVs, told reporters. The put to sell is the Sept. 8 $12 strike with a bid price of $0.38 for a net price of $11.62. | c5785ecd-d558-4823-8918-13eb047d302d |
66.0 | 2023-08-15 00:00:00 UTC | Agilent Technologies cuts annual forecasts on China weakness | A | https://www.nasdaq.com/articles/agilent-technologies-cuts-annual-forecasts-on-china-weakness | nan | nan | By Pratik Jain
Aug 15 (Reuters) - Medical equipment maker Agilent Technologies A.N cut annual profit and sales forecasts for a second straight quarter as demand stays soft in major market China due to a slow economic recovery.
Agilent expects full-year revenue to be between $6.80 billion and $6.85 billion, compared with $6.93 billion to $7.03 billion projected earlier.
It expects annual adjusted profit per share between $5.40 and $5.43, compared with its prior forecast of $5.60 to $5.65.
"In July, we saw a further (sales) deterioration in China, resulting in the 17% decline for the quarter," CFO Robert McMahon said in a post-earnings call.
"While the Q3 decline in China was centered in pharma, which was down 30%, we did see weakness in other end markets as well. We expect the conditions we've seen in July to persist in China for Q4."
For the third quarter ended July 31, the company's total sales fell 2.7% to $1.67 billion.
Sales from its third-largest segment that offers genetic sequencing, contract manufacturing, research and development, among others, were $349 million, missing a Refinitiv estimate of $355.67 million.
The sales miss was due to softness in genomics and the shutdown of its Resolution Bioscience business, which offered next-generation sequencing-based cancer diagnostics solutions.
The company said on Tuesday it has taken a $291 million pre-tax charge in the quarter associated with the shutdown and expects the wind-down to continue through the fourth quarter and into early fiscal 2024.
Agilent CEO Mike McMullen flagged performance of its largest unit that provides laboratory instruments, consumables and software continues to be affected by the market environment in China.
"Our sales funnel remains healthy and are up year-on-year, but deal velocity continues to slow as customers remain cautious in making capital purchases," McMullen added.
Its quarterly adjusted profit per share was $1.43, above expectations of $1.36.
(Reporting by Pratik Jain in Bengaluru; Editing by Shilpi Majumdar)
((Pratik.Jain@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | By Pratik Jain Aug 15 (Reuters) - Medical equipment maker Agilent Technologies A.N cut annual profit and sales forecasts for a second straight quarter as demand stays soft in major market China due to a slow economic recovery. The sales miss was due to softness in genomics and the shutdown of its Resolution Bioscience business, which offered next-generation sequencing-based cancer diagnostics solutions. Agilent CEO Mike McMullen flagged performance of its largest unit that provides laboratory instruments, consumables and software continues to be affected by the market environment in China. | By Pratik Jain Aug 15 (Reuters) - Medical equipment maker Agilent Technologies A.N cut annual profit and sales forecasts for a second straight quarter as demand stays soft in major market China due to a slow economic recovery. It expects annual adjusted profit per share between $5.40 and $5.43, compared with its prior forecast of $5.60 to $5.65. For the third quarter ended July 31, the company's total sales fell 2.7% to $1.67 billion. | By Pratik Jain Aug 15 (Reuters) - Medical equipment maker Agilent Technologies A.N cut annual profit and sales forecasts for a second straight quarter as demand stays soft in major market China due to a slow economic recovery. Agilent expects full-year revenue to be between $6.80 billion and $6.85 billion, compared with $6.93 billion to $7.03 billion projected earlier. The company said on Tuesday it has taken a $291 million pre-tax charge in the quarter associated with the shutdown and expects the wind-down to continue through the fourth quarter and into early fiscal 2024. | It expects annual adjusted profit per share between $5.40 and $5.43, compared with its prior forecast of $5.60 to $5.65. "In July, we saw a further (sales) deterioration in China, resulting in the 17% decline for the quarter," CFO Robert McMahon said in a post-earnings call. For the third quarter ended July 31, the company's total sales fell 2.7% to $1.67 billion. | a7598127-fd7e-40d8-bd2b-c2f0d9b33604 |
98.0 | 2023-05-24 00:00:00 UTC | Why Agilent Technologies Stock Is Sinking Today | A | https://www.nasdaq.com/articles/why-agilent-technologies-stock-is-sinking-today | nan | nan | What happened
Shares of Agilent Technologies (NYSE: A) were sinking 7.9% lower as of 11:34 a.m. ET on Wednesday. The decline came after the life sciences company announced its fiscal 2023 second-quarter results following the market close on Tuesday.
Agilent reported fiscal Q2 revenue of $1.72 billion, up 6.8% year over year. It posted net income of $302 million, or $1.02 per share, based on generally accepted accounting principles (GAAP). The company's non-GAAP earnings were $377 million, or $1.27 per share.
Although Agilent narrowly topped the consensus Wall Street earnings estimate for the latest quarter, the company's guidance fell short.
Agilent projects fiscal Q3 revenue of between $1.64 billion and $1.675 billion. Analysts' average third-quarter revenue estimate is $1.77 billion. The company expects fiscal Q3 non-GAAP earnings per share of $1.36 to $1.38, lower than the consensus estimate of $1.43.
The company's full-year outlook also disappointed investors. Agilent forecasts full-year revenue of between $6.93 billion and $7.03 billion. Analysts' average revenue estimate is $7.57 billion. Agilent expects full-year non-GAAP earnings per share of $5.60 to $5.65. The consensus estimate is $6.29.
So what
Agilent attributed its lower-than-expected guidance to "increased market uncertainties." CEO Mike McMullen also pointed to the "increasingly challenging market environment."
The main problems for the company are largely beyond its control. McMullen noted in Agilent's quarterly conference call that "continued macroeconomic uncertainty coupled with stresses in the banking system have accelerated a more conservative approach from our customers."
Now what
Agilent remains in solid financial shape to weather its current headwinds. The company should be able to deliver stronger growth once the economy gets on a firmer footing.
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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. | It posted net income of $302 million, or $1.02 per share, based on generally accepted accounting principles (GAAP). Although Agilent narrowly topped the consensus Wall Street earnings estimate for the latest quarter, the company's guidance fell short. McMullen noted in Agilent's quarterly conference call that "continued macroeconomic uncertainty coupled with stresses in the banking system have accelerated a more conservative approach from our customers." | The company expects fiscal Q3 non-GAAP earnings per share of $1.36 to $1.38, lower than the consensus estimate of $1.43. Analysts' average revenue estimate is $7.57 billion. Agilent expects full-year non-GAAP earnings per share of $5.60 to $5.65. | Agilent projects fiscal Q3 revenue of between $1.64 billion and $1.675 billion. The company expects fiscal Q3 non-GAAP earnings per share of $1.36 to $1.38, lower than the consensus estimate of $1.43. 10 stocks we like better than Agilent Technologies When our analyst team has a stock tip, it can pay to listen. | The company's non-GAAP earnings were $377 million, or $1.27 per share. The company expects fiscal Q3 non-GAAP earnings per share of $1.36 to $1.38, lower than the consensus estimate of $1.43. 10 stocks we like better than Agilent Technologies When our analyst team has a stock tip, it can pay to listen. | 17af9b6f-c926-4a70-bbbd-8dbda903f6bf |
108.0 | 2023-05-24 00:00:00 UTC | Agilent Technologies Slips After KeyBanc Downgrade | A | https://www.nasdaq.com/articles/agilent-technologies-slips-after-keybanc-downgrade | nan | nan | (RTTNews) - Agilent Technologies, Inc. (A) shares are sliding more than 11 percent on Wednesday morning trade after investment advisory KeyBanc downgraded the company to Sector Weight from Overweight, despite earnings growth in the second quarter.
Currently, shares are at $114.12, down 11.21 percent from the previous close of $128.64 on a volume of 833,531.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (RTTNews) - Agilent Technologies, Inc. (A) shares are sliding more than 11 percent on Wednesday morning trade after investment advisory KeyBanc downgraded the company to Sector Weight from Overweight, despite earnings growth in the second quarter. Currently, shares are at $114.12, down 11.21 percent from the previous close of $128.64 on a volume of 833,531. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (RTTNews) - Agilent Technologies, Inc. (A) shares are sliding more than 11 percent on Wednesday morning trade after investment advisory KeyBanc downgraded the company to Sector Weight from Overweight, despite earnings growth in the second quarter. Currently, shares are at $114.12, down 11.21 percent from the previous close of $128.64 on a volume of 833,531. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (RTTNews) - Agilent Technologies, Inc. (A) shares are sliding more than 11 percent on Wednesday morning trade after investment advisory KeyBanc downgraded the company to Sector Weight from Overweight, despite earnings growth in the second quarter. Currently, shares are at $114.12, down 11.21 percent from the previous close of $128.64 on a volume of 833,531. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (RTTNews) - Agilent Technologies, Inc. (A) shares are sliding more than 11 percent on Wednesday morning trade after investment advisory KeyBanc downgraded the company to Sector Weight from Overweight, despite earnings growth in the second quarter. Currently, shares are at $114.12, down 11.21 percent from the previous close of $128.64 on a volume of 833,531. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | 03e8f8c0-12be-4ce6-bb17-39481138e242 |
122.0 | 2023-05-19 00:00:00 UTC | Will Solid Top-Line Growth Buoy Workday's (WDAY) Q1 Earnings? | A | https://www.nasdaq.com/articles/will-solid-top-line-growth-buoy-workdays-wday-q1-earnings | nan | nan | Workday, Inc. WDAY is scheduled to report first-quarter fiscal 2024 results on May 25, after the market closes. In the last reported quarter, the company delivered an earnings surprise of 11.2%. It pulled off a trailing four-quarter earnings surprise of 7.7%, on average.
The Pleasanton, CA-based firm is likely to have recorded higher revenues in the fiscal first quarter on a year-over-year basis, driven by its approach of continuous innovation and healthy demand for its applications for finance and human resources.
Factors at Play
In the fiscal first quarter, The Amenity Collective deployed a bevy of Workday solutions to break down data silos and drive efficiencies to accelerate its business transformation. These included Workday Financial Management, Workday Human Capital Management, Workday Payroll and Workday Learning. The transition to a cloud-based system to unify the lifestyle services and hospitality firm’s data into a single platform and drive front and back-office operations across the full breadth of the businesses is likely to have generated incremental revenues for Workday in the quarter.
During the to-be-reported quarter, EZCORP, Inc. selected several Workday solutions to improve its real-time visibility into costs and revenue drivers. These included Workday Financial Management, Workday Human Capital Management, Workday Adaptive Planning, Workday Strategic Sourcing and Workday Accounting Center. The solutions are likely to have helped the leading provider of pawn transactions to fast-track its digital transformation efforts for improved decision-making. This is likely to be reflected in the upcoming quarterly results.
For the April quarter, the Zacks Consensus Estimate for revenues is pegged at $1,675 million, which indicates growth from the year-ago quarter’s reported figure of $1,435 million. The consensus estimate for adjusted earnings per share is pegged at $1.10, suggesting an increase from 83 cents reported in the prior year.
Earnings Whispers
Our proven model does not predict an earnings beat for Workday for the fiscal first quarter. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. This is not the case here.
Earnings ESP: Earnings ESP, which represents the difference between the Most Accurate Estimate and the Zacks Consensus Estimate, is -9.49%, with the former pegged at $1.00 and the latter at $1.10. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Workday, Inc. Price and EPS Surprise
Workday, Inc. price-eps-surprise | Workday, Inc. Quote
Zacks Rank: Workday currently has a Zacks Rank #2.
Stocks to Consider
Here are some companies you may want to consider, as our model shows that these have the right combination of elements to post an earnings beat this season:
HP Inc. HPQ is set to release quarterly numbers on May 30. It has an Earnings ESP of +2.29% and a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Earnings ESP for Agilent Technologies, Inc. A is +0.40% and it carries a Zacks Rank of 3. The company is scheduled to report quarterly numbers on May 23.
The Earnings ESP for Jabil Inc. JBL is +3.38% and it carries a Zacks Rank of 3. The company is scheduled to report quarterly numbers on Jun 15.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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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 Pleasanton, CA-based firm is likely to have recorded higher revenues in the fiscal first quarter on a year-over-year basis, driven by its approach of continuous innovation and healthy demand for its applications for finance and human resources. Factors at Play In the fiscal first quarter, The Amenity Collective deployed a bevy of Workday solutions to break down data silos and drive efficiencies to accelerate its business transformation. The transition to a cloud-based system to unify the lifestyle services and hospitality firm’s data into a single platform and drive front and back-office operations across the full breadth of the businesses is likely to have generated incremental revenues for Workday in the quarter. | These included Workday Financial Management, Workday Human Capital Management, Workday Payroll and Workday Learning. These included Workday Financial Management, Workday Human Capital Management, Workday Adaptive Planning, Workday Strategic Sourcing and Workday Accounting Center. Click to get this free report HP Inc. (HPQ) : Free Stock Analysis Report Agilent Technologies, Inc. (A) : Free Stock Analysis Report Jabil, Inc. (JBL) : Free Stock Analysis Report Workday, Inc. (WDAY) : Free Stock Analysis Report To read this article on Zacks.com click here. | These included Workday Financial Management, Workday Human Capital Management, Workday Adaptive Planning, Workday Strategic Sourcing and Workday Accounting Center. Workday, Inc. Price and EPS Surprise Workday, Inc. price-eps-surprise | Workday, Inc. Quote Zacks Rank: Workday currently has a Zacks Rank #2. Click to get this free report HP Inc. (HPQ) : Free Stock Analysis Report Agilent Technologies, Inc. (A) : Free Stock Analysis Report Jabil, Inc. (JBL) : Free Stock Analysis Report Workday, Inc. (WDAY) : Free Stock Analysis Report To read this article on Zacks.com click here. | In the last reported quarter, the company delivered an earnings surprise of 11.2%. The company is scheduled to report quarterly numbers on May 23. This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year. | d2b91b98-07f0-478f-bde7-b6040fd3fc16 |
135.0 | 2023-05-15 00:00:00 UTC | Semtech's (SMTC) New Deal Boosts LoRa Technology Adoption | A | https://www.nasdaq.com/articles/semtechs-smtc-new-deal-boosts-lora-technology-adoption | nan | nan | Semtech Corporation SMTC is winning partnerships on the back of robust LoRa solutions.
This is evident from the recent selection of LoRa-enabled sensors and LoRaWAN-based gateways by Sustainable Hrvest Sdn Bhd. This reflects the efficiency and reliability of Semtech’s LoRa technology.
Further, it boosts adoption as well as the customer base of its LoRa technology.
Notably, Sustainable Hrvest Sdn Bhd has deployed LoRa sensors and LoRaWAN gateways across its Durian fruit farms in Malaysia.
The sensors provide farmers with real-time data on the health of their farms at every stage of the growth cycle, from pre-harvest to post-harvest, allowing for more efficient and productive farming practices, reduced operational costs and increased crop yields.
The LoRa chipsets connect sensors to the cloud and enable real-time communication of data and analytics, helping to enhance the efficiency and productivity of sustainable IoT use cases.
There are currently 30 LoRa-powered farms in Malaysia, with new plantations expected to go live in the coming year.
Semtech Corporation Price and Consensus
Semtech Corporation price-consensus-chart | Semtech Corporation Quote
Growth Prospects
The company’s current move positions it well to capitalize on the growth prospects present in the global agriculture market.
Per a report from The Business Research Company, the underlined market is expected to hit $19,007.8 billion by 2027, witnessing a CAGR of 9.1% between 2023 and 2027.
A report from Research and Markets states that the global agriculture market is expected to grow to $18,814.21 billion at a CAGR of 10.7% between 2022 and 2026.
We believe that Semtech’s growing footprint in this promising market will help it win investors’ confidence in the days ahead.
Coming to the price performance, SMTC has declined 35.6% in the year-to-date period against the industry’s rise of 9.3%.
Portfolio Strength: Key Catalyst
Semtech’s constant efforts toward expanding its product portfolio are expected to continue aiding it in gaining momentum across new customers and sustaining the existing ones.
Recently, the company introduced the PerSe Connect SX9376 chipset, which enables RF performance optimization, improved connectivity and compliance with global specific absorption rate regulations for 5G-enabled consumer products.
Additionally, SMTC announced the release of the first LoRa-enabled third-party devices based on Amazon Sidewalk, which will raise demand for LoRa-enabled development kits and modules and reinforce Semtech's position as a leading technology provider for IoT connection.
Semtech also introduced a transceiver, namely LoRa Connect LR1121, which features low power consumption, the LoRaWAN standard, as well as global connectivity. It is ideal for use in Internet of Things (IoT) endpoints.
We note that expanding portfolio strength is expected to aid the company’s performance across the various end markets.
However, weak demand environments across the end markets are a major concern. Macroeconomic headwinds, including export restrictions, inflationary pressure and supply-chain constraints, remain overhangs for Semtech.
Zacks Rank and Stocks to Consider
Currently, Semtech carries a Zacks Rank #4 (Sell).
Investors interested in the broader Zacks Computer & Technology sector can consider some better-ranked stocks like Agilent Technologies A, DigitalOcean DOCN and AMETEK AME. Agilent Technologies, DigitalOcean and AMETEK each carry a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Agilent Technologies shares have gained 9.2% in the past year. The Zacks Consensus Estimate for A’s second-quarter fiscal 2023 earnings is pegged at $1.27 per share, suggesting an increase of 12.4% from the prior-year quarter’s reported figure.
DigitalOcean shares have risen 2.2% in the past year. The Zacks Consensus Estimate for DOCN’s second-quarter earnings is pegged at 38 cents per share, suggesting a jump from 20 cents per share reported in the prior-year quarter.
AMETEK shares have rallied 19.5% in the past year. The Zacks Consensus Estimate for AME’s second-quarter earnings is pegged at $1.50 per share, suggesting an increase of 8.7% from the prior-year quarter’s reported figure.
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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. | Notably, Sustainable Hrvest Sdn Bhd has deployed LoRa sensors and LoRaWAN gateways across its Durian fruit farms in Malaysia. The LoRa chipsets connect sensors to the cloud and enable real-time communication of data and analytics, helping to enhance the efficiency and productivity of sustainable IoT use cases. The Zacks Consensus Estimate for AME’s second-quarter earnings is pegged at $1.50 per share, suggesting an increase of 8.7% from the prior-year quarter’s reported figure. | The Zacks Consensus Estimate for DOCN’s second-quarter earnings is pegged at 38 cents per share, suggesting a jump from 20 cents per share reported in the prior-year quarter. The Zacks Consensus Estimate for AME’s second-quarter earnings is pegged at $1.50 per share, suggesting an increase of 8.7% from the prior-year quarter’s reported figure. Click to get this free report Agilent Technologies, Inc. (A) : Free Stock Analysis Report AMETEK, Inc. (AME) : Free Stock Analysis Report Semtech Corporation (SMTC) : Free Stock Analysis Report DigitalOcean Holdings, Inc. (DOCN) : Free Stock Analysis Report To read this article on Zacks.com click here. | Semtech Corporation Price and Consensus Semtech Corporation price-consensus-chart | Semtech Corporation Quote Growth Prospects The company’s current move positions it well to capitalize on the growth prospects present in the global agriculture market. Investors interested in the broader Zacks Computer & Technology sector can consider some better-ranked stocks like Agilent Technologies A, DigitalOcean DOCN and AMETEK AME. Click to get this free report Agilent Technologies, Inc. (A) : Free Stock Analysis Report AMETEK, Inc. (AME) : Free Stock Analysis Report Semtech Corporation (SMTC) : Free Stock Analysis Report DigitalOcean Holdings, Inc. (DOCN) : Free Stock Analysis Report To read this article on Zacks.com click here. | The LoRa chipsets connect sensors to the cloud and enable real-time communication of data and analytics, helping to enhance the efficiency and productivity of sustainable IoT use cases. A report from Research and Markets states that the global agriculture market is expected to grow to $18,814.21 billion at a CAGR of 10.7% between 2022 and 2026. We note that expanding portfolio strength is expected to aid the company’s performance across the various end markets. | 4ee126a1-f1a2-45ac-a963-db833993c55f |
142.0 | 2023-05-12 00:00:00 UTC | With Top-Line Expansion Improve Keysight's (KEYS) Q2 Earnings? | A | https://www.nasdaq.com/articles/with-top-line-expansion-improve-keysights-keys-q2-earnings | nan | nan | Keysight Technologies, Inc. KEYS is scheduled to report second-quarter fiscal 2023 results on May 16 after market close. In the last reported quarter, the company delivered an earnings surprise of 9.19%. It pulled off a trailing four-quarter earnings surprise of 9.65%, on average.
The global leader in electronic design and test solutions is likely to report higher revenues year over year. The focus on technological innovation, collaboration with various industry partners and research institutes to drive technological advancement combined with a comprehensive product portfolio catering to various industry needs are expected to have boosted the top line.
Factors at Play
During the second quarter, Keysight partnered with Synopsys, an electronic products and software application developer, and Ansys, a simulation software provider, to augment the performance of Autonomous systems with 79Ghz millimeter wave (mmWave) radio frequency design flow. The collaboration leveraged RF design expertise from Keysight combined with Synopsys analog and mixed-signal design to support TSMC's (Taiwan Semiconductor Manufacturing Company) 16nm FinFET Compact Technology (16FFC).
Keysight also collaborated with the National Physical Laboratory (NPL) and the University of Surrey to demonstrate first 6G connection at a frequency of 300GHZ registering a speed of more than 100 Gbps. Keysight provides the necessary infrastructure for researchers to introduce groundbreaking technology platforms utilizing 5G advanced and 6G technologies. Such initiatives are likely to have boosted the top line during the quarter.
In the fiscal second quarter, Keysight introduced Novus Mini, a compact, cost-efficient network test solution that combined traffic generation and protocol testing in a single platform. It efficiently supports network engineers and enables them to perform compliance testing for automotive and loT applications. The company also announced that it has expanded its e-mobility charging test portfolio to accelerate the development of electric charging infrastructure and improve interoperability among e-mobility products. In addition to complementing its existing electric vehicle (EV) and electric vehicle supply equipment (EVSE) charging products, the portfolio expansion is likely to strengthen its leading position in the market.
During the quarter, Keysight validated the performance of Astella’s 5G Open RAN mmWave small cell base station. Astella Technologies, a Hong Kong-based O-RAN solution provider, opted to utilize Keysight Open RAN Architect (KORA) solutions to ensure that its product adheres to industry requirements to expedite commercial use. These developments are likely to have contributed to top-line growth in the quarter.
Keysight launched the Digital Learning Suite to support educators with a comprehensive platform that will allow them to deliver cutting-edge industry-ready training. The solution is dedicated toward developing the best-in-class tools to streamline digital learning and support students across all backgrounds. Keysight’s platform provides educators and students with one-stop access to lab resources and reduces the complexity of lab management. This time-efficient solution increases the real-time interaction between teachers and students and enhances overall productivity through test instrument control and data analysis tools.
In the quarter under review, Keysight collaborated with RISE Research Institutes of Sweden, KTH Royal Institute of Technology and Riga Technical University (RTU) to help innovate and develop the next-generation datacom optical interface. The partnership demonstrated greater Gbaud rates that will significantly improve information transmission capabilities. The new 75 GHz Keysight M8199B 256 GSa/s Arbitrary Waveform Generator combined with 110 GHz Keysight UXR1104A Infinium UXR-Series Oscilloscope was used during the demonstration.
Keysight partnered with NTT DOCOMO, Inc. and NTT to develop key technologies for 6G capabilities. The collaboration will likely promulgate affordable solutions to drive 6G wireless innovation to help bring this future communications technology to market. Such collaborations are likely to get reflected in the upcoming results.
For the April quarter, the Zacks Consensus Estimate for total revenues is pegged at $1,379 million, which indicates growth from $1,351 million reported in prior year quarter. The consensus estimate for adjusted earnings per share stands at $1.94, suggesting an increase from the prior-year quarter’s figure of $1.83.
Earnings Whispers
Our proven model does predict an earnings beat for Keysight in the second quarter. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. This is perfectly the case here.
Earnings ESP: Earnings ESP, which represents the difference between the Most Accurate Estimate and the Zacks Consensus Estimate, is +0.09%, with the former pegged at $1.95 and the latter at $1.94. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Keysight Technologies Inc. Price and EPS Surprise
Keysight Technologies Inc. price-eps-surprise | Keysight Technologies Inc. Quote
Zacks Rank: Keysight has a Zacks Rank #3 (Hold).
Other Stocks to Consider
Here are other companies you may want to consider, as our model shows that these have the right combination of elements to post an earnings beat this season:
Agilent Technologies, Inc. A is set to release quarterly numbers on May 23. It has an Earnings ESP of +0.40% and a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Earnings ESP for Jabil, Inc. JBL is +3.38% and it carries a Zacks Rank of 3. The company is scheduled to report quarterly numbers on Jun 15.
The Earnings ESP for Splunk Inc. SPLK is +12.16% and it carries a Zacks Rank of 3. The company is scheduled to report quarterly numbers on May 24.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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Keysight Technologies Inc. (KEYS) : 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. | Keysight also collaborated with the National Physical Laboratory (NPL) and the University of Surrey to demonstrate first 6G connection at a frequency of 300GHZ registering a speed of more than 100 Gbps. Keysight launched the Digital Learning Suite to support educators with a comprehensive platform that will allow them to deliver cutting-edge industry-ready training. This time-efficient solution increases the real-time interaction between teachers and students and enhances overall productivity through test instrument control and data analysis tools. | The focus on technological innovation, collaboration with various industry partners and research institutes to drive technological advancement combined with a comprehensive product portfolio catering to various industry needs are expected to have boosted the top line. Keysight Technologies Inc. Price and EPS Surprise Keysight Technologies Inc. price-eps-surprise | Keysight Technologies Inc. Quote Zacks Rank: Keysight has a Zacks Rank #3 (Hold). Click to get this free report Agilent Technologies, Inc. (A) : Free Stock Analysis Report Jabil, Inc. (JBL) : Free Stock Analysis Report Splunk Inc. (SPLK) : Free Stock Analysis Report Keysight Technologies Inc. (KEYS) : Free Stock Analysis Report To read this article on Zacks.com click here. | The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. Keysight Technologies Inc. Price and EPS Surprise Keysight Technologies Inc. price-eps-surprise | Keysight Technologies Inc. Quote Zacks Rank: Keysight has a Zacks Rank #3 (Hold). Click to get this free report Agilent Technologies, Inc. (A) : Free Stock Analysis Report Jabil, Inc. (JBL) : Free Stock Analysis Report Splunk Inc. (SPLK) : Free Stock Analysis Report Keysight Technologies Inc. (KEYS) : Free Stock Analysis Report To read this article on Zacks.com click here. | In the last reported quarter, the company delivered an earnings surprise of 9.19%. The focus on technological innovation, collaboration with various industry partners and research institutes to drive technological advancement combined with a comprehensive product portfolio catering to various industry needs are expected to have boosted the top line. In the fiscal second quarter, Keysight introduced Novus Mini, a compact, cost-efficient network test solution that combined traffic generation and protocol testing in a single platform. | 7de2f148-d8fc-42e1-9cdb-cccd645ee1bb |
157.0 | 2023-05-08 00:00:00 UTC | Australia to deliver first budget surplus in 15 years | A | https://www.nasdaq.com/articles/australia-to-deliver-first-budget-surplus-in-15-years | nan | nan | SYDNEY, May 8 (Reuters) - Australia is set to deliver its first budget surplus in 15 years on Tuesday, as its coffers bulge with tax windfalls from higher commodities prices and wages, a political win for the centre-left Labor government since coming to power last May.
The budget will forecast a small surplus of around A$4 billion ($2.71 billion) for the fiscal year ending June, a huge turnaround from a projected deficit of A$36.9 billion in October, according to excerpts seen by Reuters.
Deficit estimates for the subsequent years have also been revised lower.
The government is returning 82% of revenue upgrades to the budget bottom-line while making $17.8 billion in savings and reprioritisations, based on the excerpts.
That brings the total savings found across the two budgets delivered so far by the Labor government to A$40 billion.
"Our responsible economic management is all about spending restraint, substantial savings redirected to other priorities, and modest but meaningful tax changes," said Treasurer Jim Chalmers.
"We are putting the Budget on a much more sustainable footing at the same time as we provide cost of living relief and invest in the future."
The government will also set aside a A$11.3 billion for wage rises for aged care workers and extend financial support for single parents.
($1 = 1.4758 Australian dollars)
(Reporting by Stella Qiu; Editing by Sam Holmes)
((yifan.qiu@thomsonreuters.com))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | SYDNEY, May 8 (Reuters) - Australia is set to deliver its first budget surplus in 15 years on Tuesday, as its coffers bulge with tax windfalls from higher commodities prices and wages, a political win for the centre-left Labor government since coming to power last May. "Our responsible economic management is all about spending restraint, substantial savings redirected to other priorities, and modest but meaningful tax changes," said Treasurer Jim Chalmers. The government will also set aside a A$11.3 billion for wage rises for aged care workers and extend financial support for single parents. | SYDNEY, May 8 (Reuters) - Australia is set to deliver its first budget surplus in 15 years on Tuesday, as its coffers bulge with tax windfalls from higher commodities prices and wages, a political win for the centre-left Labor government since coming to power last May. The budget will forecast a small surplus of around A$4 billion ($2.71 billion) for the fiscal year ending June, a huge turnaround from a projected deficit of A$36.9 billion in October, according to excerpts seen by Reuters. That brings the total savings found across the two budgets delivered so far by the Labor government to A$40 billion. | SYDNEY, May 8 (Reuters) - Australia is set to deliver its first budget surplus in 15 years on Tuesday, as its coffers bulge with tax windfalls from higher commodities prices and wages, a political win for the centre-left Labor government since coming to power last May. The budget will forecast a small surplus of around A$4 billion ($2.71 billion) for the fiscal year ending June, a huge turnaround from a projected deficit of A$36.9 billion in October, according to excerpts seen by Reuters. The government is returning 82% of revenue upgrades to the budget bottom-line while making $17.8 billion in savings and reprioritisations, based on the excerpts. | The budget will forecast a small surplus of around A$4 billion ($2.71 billion) for the fiscal year ending June, a huge turnaround from a projected deficit of A$36.9 billion in October, according to excerpts seen by Reuters. The government is returning 82% of revenue upgrades to the budget bottom-line while making $17.8 billion in savings and reprioritisations, based on the excerpts. That brings the total savings found across the two budgets delivered so far by the Labor government to A$40 billion. | b11e5c07-df7c-4db9-a9cf-3698defb2af7 |
168.0 | 2023-05-04 00:00:00 UTC | Advanced Energy (AEIS) Q1 Earnings Beat, Revenues Rise Y/Y | A | https://www.nasdaq.com/articles/advanced-energy-aeis-q1-earnings-beat-revenues-rise-y-y-0 | nan | nan | Advanced Energy Industries, Inc. AEIS reported first-quarter 2023 non-GAAP earnings of $1.24 per share, beating the Zacks Consensus Estimate by 10.7%. The bottom line remained flat on a year-over-year basis.
Revenues of $425.04 million surpassed the Zacks Consensus Estimate of $411.13 million. The top line improved 7% year over year.
Strong momentum across the Industrial and Medical and Telecom and Networking end markets drove top-line growth in the reported quarter.
However, softness across Semiconductor Equipment and Data Center Computing markets was a concern.
Advanced Energy Industries, Inc. Price, Consensus and EPS Surprise
Advanced Energy Industries, Inc. price-consensus-eps-surprise-chart | Advanced Energy Industries, Inc. Quote
End Market in Detail
Semiconductor Equipment: Revenues generated from the market fell 4% year over year to $194.21 million (45.7% of the total revenues).
Nevertheless, solid demand for high voltage and growing design wins in etch and deposition were positives.
Industrial & Medical: Revenues from the market grew 48% year over year to $123.02 million (29% of the total revenues) in the reported quarter. Top-line growth in the market was driven by growing design wins in industrial and medical applications. Also, strong demand for thin film was a tailwind.
Data Center Computing: Revenues from the market were $59.7 million (14% of the total revenues), down 22% from the year-ago quarter’s level. Component shortage and weakening momentum among hyper-scale customers were concerns.
Telecom & Networking: Revenues generated from the market were $48.15 million (11.3% of the total revenues), up 36% from the prior-year quarter’s level.
Operating Results
In the first quarter, GAAP gross margin was 36.5%, which expanded 20 basis points (bps) year over year. The non-GAAP gross margin was 36.8%, expanding 20 bps from the year-ago quarter’s level.
Non-GAAP operating expenses were $99.7 million, up 13.8% year over year. As a percentage of revenues, the figure expanded 147 bps year over year to 23.5% in the reported quarter.
The non-GAAP operating margin was 13.4%, contracting 110 bps from the prior-year quarter’s level.
Balance Sheet & Cash Flow
As of Mar 31, 2023, cash and cash equivalents were $461.7 million compared with $458.82 million as of Dec 31, 2022.
Total debt was $368.4 million at the first-quarter end, down from $373.3 million at the fourth-quarter end.
For the first quarter, cash flow from operations was $31.9 million, which dropped from $70.7 million in the fourth quarter.
Advanced Energy made dividend payments of $3.8 million in the reported quarter.
Guidance
For second-quarter 2023, Advanced Energy expects non-GAAP earnings of $1.00 per share (+/- 25 cents). The Zacks Consensus Estimate is pegged at $1.13 per share.
Advanced Energy anticipates revenues of $410 million (+/- $20 million). The Zacks Consensus Estimate for the same is pegged at $417.39 million.
Zacks Rank & Stocks to Consider
Currently, Advanced Energy has a Zacks Rank #3 (Hold).
Investors interested in the broader technology sector can consider some better-ranked stocks like Agilent Technologies A, DigitalOcean DOCN and Paycor HCM PYCR, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Agilent Technologies is set to report second-quarter fiscal 2023 results on May 23. The Zacks Consensus Estimate for A’s earnings is pegged at $1.27 per share, implying growth of 12.4% from the year-ago quarter’s reported figure. A has lost 11.6% in the year-to-date period.
DigitalOcean is scheduled to release first-quarter 2023 results on May 9. The Zacks Consensus Estimate for DOCN’s earnings is pegged at 29 cents per share, suggesting a jump from 7 cents per share reported in the prior-year quarter. DOCN has gained 25.5% in the year-to-date period.
Paycor HCM is scheduled to report third-quarter fiscal 2023 results on May 10. The Zacks Consensus Estimate for PYCR’s earnings is pegged at 15 cents per share, suggesting an increase of 36.4% from the prior-year quarter’s reported figure. PYCR has gained 26% in the year-to-date period.
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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. | Advanced Energy Industries, Inc. AEIS reported first-quarter 2023 non-GAAP earnings of $1.24 per share, beating the Zacks Consensus Estimate by 10.7%. The Zacks Consensus Estimate for PYCR’s earnings is pegged at 15 cents per share, suggesting an increase of 36.4% from the prior-year quarter’s reported figure. Today you can invest in the wave of the future, an automation that answers follow-up questions … admits mistakes … challenges incorrect premises … rejects inappropriate requests. | Advanced Energy Industries, Inc. AEIS reported first-quarter 2023 non-GAAP earnings of $1.24 per share, beating the Zacks Consensus Estimate by 10.7%. Advanced Energy Industries, Inc. Price, Consensus and EPS Surprise Advanced Energy Industries, Inc. price-consensus-eps-surprise-chart | Advanced Energy Industries, Inc. Quote End Market in Detail Semiconductor Equipment: Revenues generated from the market fell 4% year over year to $194.21 million (45.7% of the total revenues). Click to get this free report Agilent Technologies, Inc. (A) : Free Stock Analysis Report Advanced Energy Industries, Inc. (AEIS) : Free Stock Analysis Report DigitalOcean Holdings, Inc. (DOCN) : Free Stock Analysis Report Paycor HCM, Inc. (PYCR) : Free Stock Analysis Report To read this article on Zacks.com click here. | Advanced Energy Industries, Inc. Price, Consensus and EPS Surprise Advanced Energy Industries, Inc. price-consensus-eps-surprise-chart | Advanced Energy Industries, Inc. Quote End Market in Detail Semiconductor Equipment: Revenues generated from the market fell 4% year over year to $194.21 million (45.7% of the total revenues). Industrial & Medical: Revenues from the market grew 48% year over year to $123.02 million (29% of the total revenues) in the reported quarter. Click to get this free report Agilent Technologies, Inc. (A) : Free Stock Analysis Report Advanced Energy Industries, Inc. (AEIS) : Free Stock Analysis Report DigitalOcean Holdings, Inc. (DOCN) : Free Stock Analysis Report Paycor HCM, Inc. (PYCR) : Free Stock Analysis Report To read this article on Zacks.com click here. | Advanced Energy Industries, Inc. AEIS reported first-quarter 2023 non-GAAP earnings of $1.24 per share, beating the Zacks Consensus Estimate by 10.7%. Revenues of $425.04 million surpassed the Zacks Consensus Estimate of $411.13 million. Advanced Energy Industries, Inc. Price, Consensus and EPS Surprise Advanced Energy Industries, Inc. price-consensus-eps-surprise-chart | Advanced Energy Industries, Inc. Quote End Market in Detail Semiconductor Equipment: Revenues generated from the market fell 4% year over year to $194.21 million (45.7% of the total revenues). | bed9d45f-c4bf-4100-8993-b140a9956ebd |
185.0 | 2023-03-31 00:00:00 UTC | Bullish Two Hundred Day Moving Average Cross - A | A | https://www.nasdaq.com/articles/bullish-two-hundred-day-moving-average-cross-a | nan | nan | In trading on Friday, shares of Agilent Technologies, Inc. (Symbol: A) crossed above their 200 day moving average of $137.71, changing hands as high as $138.73 per share. Agilent Technologies, Inc. shares are currently trading up about 2.9% on the day. The chart below shows the one year performance of A shares, versus its 200 day moving average:
Looking at the chart above, A's low point in its 52 week range is $112.52 per share, with $160.265 as the 52 week high point — that compares with a last trade of $137.98. The A DMA information above was sourced from TechnicalAnalysisChannel.com
Click here to find out which 9 other dividend stocks recently crossed above their 200 day moving average »
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SLGN Dividend Growth Rate
Institutional Holders of Adobe
Funds Holding AHP
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In trading on Friday, shares of Agilent Technologies, Inc. (Symbol: A) crossed above their 200 day moving average of $137.71, changing hands as high as $138.73 per share. The chart below shows the one year performance of A shares, versus its 200 day moving average: Looking at the chart above, A's low point in its 52 week range is $112.52 per share, with $160.265 as the 52 week high point — that compares with a last trade of $137.98. The A DMA information above was sourced from TechnicalAnalysisChannel.com Click here to find out which 9 other dividend stocks recently crossed above their 200 day moving average » Also see: SLGN Dividend Growth Rate Institutional Holders of Adobe Funds Holding AHP The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In trading on Friday, shares of Agilent Technologies, Inc. (Symbol: A) crossed above their 200 day moving average of $137.71, changing hands as high as $138.73 per share. The chart below shows the one year performance of A shares, versus its 200 day moving average: Looking at the chart above, A's low point in its 52 week range is $112.52 per share, with $160.265 as the 52 week high point — that compares with a last trade of $137.98. The A DMA information above was sourced from TechnicalAnalysisChannel.com Click here to find out which 9 other dividend stocks recently crossed above their 200 day moving average » Also see: SLGN Dividend Growth Rate Institutional Holders of Adobe Funds Holding AHP The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In trading on Friday, shares of Agilent Technologies, Inc. (Symbol: A) crossed above their 200 day moving average of $137.71, changing hands as high as $138.73 per share. The chart below shows the one year performance of A shares, versus its 200 day moving average: Looking at the chart above, A's low point in its 52 week range is $112.52 per share, with $160.265 as the 52 week high point — that compares with a last trade of $137.98. The A DMA information above was sourced from TechnicalAnalysisChannel.com Click here to find out which 9 other dividend stocks recently crossed above their 200 day moving average » Also see: SLGN Dividend Growth Rate Institutional Holders of Adobe Funds Holding AHP The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In trading on Friday, shares of Agilent Technologies, Inc. (Symbol: A) crossed above their 200 day moving average of $137.71, changing hands as high as $138.73 per share. Agilent Technologies, Inc. shares are currently trading up about 2.9% on the day. The chart below shows the one year performance of A shares, versus its 200 day moving average: Looking at the chart above, A's low point in its 52 week range is $112.52 per share, with $160.265 as the 52 week high point — that compares with a last trade of $137.98. | bed82d2a-6566-4b80-99d4-46340aa086be |
188.0 | 2023-03-30 00:00:00 UTC | Ex-Dividend Reminder: Agilent Technologies, Bank of Nova Scotia and Brixmor Property Group | A | https://www.nasdaq.com/articles/ex-dividend-reminder%3A-agilent-technologies-bank-of-nova-scotia-and-brixmor-property-group | nan | nan | Looking at the universe of stocks we cover at Dividend Channel, on 4/3/23, Agilent Technologies, Inc. (Symbol: A), Bank of Nova Scotia Halifax (Symbol: BNS), and Brixmor Property Group Inc (Symbol: BRX) will all trade ex-dividend for their respective upcoming dividends. Agilent Technologies, Inc. will pay its quarterly dividend of $0.225 on 4/26/23, Bank of Nova Scotia Halifax will pay its quarterly dividend of $1.03 on 4/26/23, and Brixmor Property Group Inc will pay its quarterly dividend of $0.26 on 4/17/23. As a percentage of A's recent stock price of $134.97, this dividend works out to approximately 0.17%, so look for shares of Agilent Technologies, Inc. to trade 0.17% lower — all else being equal — when A shares open for trading on 4/3/23. Similarly, investors should look for BNS to open 2.04% lower in price and for BRX to open 1.24% lower, all else being equal.
Below are dividend history charts for A, BNS, and BRX, showing historical dividends prior to the most recent ones declared.
Agilent Technologies, Inc. (Symbol: A):
Bank of Nova Scotia Halifax (Symbol: BNS):
Brixmor Property Group Inc (Symbol: BRX):
In general, dividends are not always predictable, following the ups and downs of company profits over time. Therefore, a good first due diligence step in forming an expectation of annual yield going forward, is looking at the history above, for a sense of stability over time. This can help in judging whether the most recent dividends from these companies are likely to continue. If they do continue, the current estimated yields on annualized basis would be 0.67% for Agilent Technologies, Inc., 8.16% for Bank of Nova Scotia Halifax, and 4.96% for Brixmor Property Group Inc.
In Thursday trading, Agilent Technologies, Inc. shares are currently up about 0.8%, Bank of Nova Scotia Halifax shares are up about 0.9%, and Brixmor Property Group Inc shares are up about 1.2% on the day.
Click here to learn which 25 S.A.F.E. dividend stocks should be on your radar screen »
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Air Services Other Dividend Stocks
Top Ten Hedge Funds Holding USI
ADX Dividend History
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Therefore, a good first due diligence step in forming an expectation of annual yield going forward, is looking at the history above, for a sense of stability over time. If they do continue, the current estimated yields on annualized basis would be 0.67% for Agilent Technologies, Inc., 8.16% for Bank of Nova Scotia Halifax, and 4.96% for Brixmor Property Group Inc. dividend stocks should be on your radar screen » Also see: Air Services Other Dividend Stocks Top Ten Hedge Funds Holding USI ADX Dividend History The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Looking at the universe of stocks we cover at Dividend Channel, on 4/3/23, Agilent Technologies, Inc. (Symbol: A), Bank of Nova Scotia Halifax (Symbol: BNS), and Brixmor Property Group Inc (Symbol: BRX) will all trade ex-dividend for their respective upcoming dividends. Agilent Technologies, Inc. will pay its quarterly dividend of $0.225 on 4/26/23, Bank of Nova Scotia Halifax will pay its quarterly dividend of $1.03 on 4/26/23, and Brixmor Property Group Inc will pay its quarterly dividend of $0.26 on 4/17/23. Agilent Technologies, Inc. (Symbol: A): Bank of Nova Scotia Halifax (Symbol: BNS): Brixmor Property Group Inc (Symbol: BRX): In general, dividends are not always predictable, following the ups and downs of company profits over time. | Looking at the universe of stocks we cover at Dividend Channel, on 4/3/23, Agilent Technologies, Inc. (Symbol: A), Bank of Nova Scotia Halifax (Symbol: BNS), and Brixmor Property Group Inc (Symbol: BRX) will all trade ex-dividend for their respective upcoming dividends. Agilent Technologies, Inc. will pay its quarterly dividend of $0.225 on 4/26/23, Bank of Nova Scotia Halifax will pay its quarterly dividend of $1.03 on 4/26/23, and Brixmor Property Group Inc will pay its quarterly dividend of $0.26 on 4/17/23. Agilent Technologies, Inc. (Symbol: A): Bank of Nova Scotia Halifax (Symbol: BNS): Brixmor Property Group Inc (Symbol: BRX): In general, dividends are not always predictable, following the ups and downs of company profits over time. | As a percentage of A's recent stock price of $134.97, this dividend works out to approximately 0.17%, so look for shares of Agilent Technologies, Inc. to trade 0.17% lower — all else being equal — when A shares open for trading on 4/3/23. This can help in judging whether the most recent dividends from these companies are likely to continue. If they do continue, the current estimated yields on annualized basis would be 0.67% for Agilent Technologies, Inc., 8.16% for Bank of Nova Scotia Halifax, and 4.96% for Brixmor Property Group Inc. | 7c24f0bc-d80e-4212-9afe-3bb1ff7fe10f |
192.0 | 2023-03-21 00:00:00 UTC | US calls Tsai transit 'nothing new', urges China to not react aggressively | A | https://www.nasdaq.com/articles/us-calls-tsai-transit-nothing-new-urges-china-to-not-react-aggressively | nan | nan | By Michael Martina and Steve Holland
WASHINGTON, March 21 (Reuters) - Expected U.S. stopovers in coming weeks by Taiwan President Tsai Ing-wen are standard practice and China should not use them as a pretext for aggressive action toward the democratically governed island, a senior U.S. administration official said.
Tsai plans to transit through New York and Los Angeles as part of a trip to Central America, and sources have told Reuters that U.S. House Speaker Kevin McCarthy intends to meet her during the California leg of her visit.
China, which claims Taiwan as its territory, has said it is "seriously concerned" about Tsai's travel plans.
But the senior U.S. official told reporters on a call on Monday night that every president of Taiwan had transited through the U.S., and that Tsai has done so herself six times since taking office 2016, most recently in 2019.
She had met members of Congress during all of those visits, the official added, noting that the COVID-19 pandemic had limited her travel in more recent years.
"We see no reason for Beijing to turn this transit, again, which is consistent with long-standing U.S. policy, into anything but what it is. It should not be used as a pretext to step up any aggressive activity around the Taiwan Strait," the official said.
The official said Washington had communicated to Beijing that Tsai's stopovers are in keeping with past precedent.
"There is nothing new from our point of view," the official said.
Noting that President Joe Biden hoped to speak to Chinese leader Xi Jinping soon and that Secretary of State Antony Blinken would like to reschedule a postponed trip to Beijing, the official said: "We urge the PRC (People's Republic of China) to keep these channels of communication open."
"In terms of contact with McCarthy's office, we offer briefings to members before engagements. We tend to do that before travel, before meetings. We've had some regular contact there," the official added.
Tsai's anticipated U.S. meeting with McCarthy is seen as a potential alternative to a sensitive visit by the Republican Speaker to Taiwan, a trip he has said he hopes to make.
China staged military exercises around Taiwan in August following a visit to Taipei by then-U.S. House Speaker Nancy Pelosi.
Taiwan is China's most sensitive territorial issue and a major bone of contention with Washington, which maintains only unofficial ties with Taipei, but is required by U.S. law to provide the island with the means to defend itself.
China believes the United States is colluding with Taiwan to challenge Beijing and giving support to those who want the island to declare formal independence.
Taiwan's government says the People's Republic of China has never ruled the island and so has no right to claim it, and that only its 23 million people can decide their future.
(Reporting by Michael Martina and Steve Holland; Editing by Stephen Coates)
((michael.martina@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | By Michael Martina and Steve Holland WASHINGTON, March 21 (Reuters) - Expected U.S. stopovers in coming weeks by Taiwan President Tsai Ing-wen are standard practice and China should not use them as a pretext for aggressive action toward the democratically governed island, a senior U.S. administration official said. Tsai plans to transit through New York and Los Angeles as part of a trip to Central America, and sources have told Reuters that U.S. House Speaker Kevin McCarthy intends to meet her during the California leg of her visit. Noting that President Joe Biden hoped to speak to Chinese leader Xi Jinping soon and that Secretary of State Antony Blinken would like to reschedule a postponed trip to Beijing, the official said: "We urge the PRC (People's Republic of China) to keep these channels of communication open." | By Michael Martina and Steve Holland WASHINGTON, March 21 (Reuters) - Expected U.S. stopovers in coming weeks by Taiwan President Tsai Ing-wen are standard practice and China should not use them as a pretext for aggressive action toward the democratically governed island, a senior U.S. administration official said. Tsai plans to transit through New York and Los Angeles as part of a trip to Central America, and sources have told Reuters that U.S. House Speaker Kevin McCarthy intends to meet her during the California leg of her visit. But the senior U.S. official told reporters on a call on Monday night that every president of Taiwan had transited through the U.S., and that Tsai has done so herself six times since taking office 2016, most recently in 2019. | By Michael Martina and Steve Holland WASHINGTON, March 21 (Reuters) - Expected U.S. stopovers in coming weeks by Taiwan President Tsai Ing-wen are standard practice and China should not use them as a pretext for aggressive action toward the democratically governed island, a senior U.S. administration official said. But the senior U.S. official told reporters on a call on Monday night that every president of Taiwan had transited through the U.S., and that Tsai has done so herself six times since taking office 2016, most recently in 2019. Noting that President Joe Biden hoped to speak to Chinese leader Xi Jinping soon and that Secretary of State Antony Blinken would like to reschedule a postponed trip to Beijing, the official said: "We urge the PRC (People's Republic of China) to keep these channels of communication open." | By Michael Martina and Steve Holland WASHINGTON, March 21 (Reuters) - Expected U.S. stopovers in coming weeks by Taiwan President Tsai Ing-wen are standard practice and China should not use them as a pretext for aggressive action toward the democratically governed island, a senior U.S. administration official said. Tsai plans to transit through New York and Los Angeles as part of a trip to Central America, and sources have told Reuters that U.S. House Speaker Kevin McCarthy intends to meet her during the California leg of her visit. China, which claims Taiwan as its territory, has said it is "seriously concerned" about Tsai's travel plans. | 31291fcb-0fed-4607-92d8-338b7f53e940 |
200.0 | 2023-03-09 00:00:00 UTC | MACOM (MTSI) Acquires Linearizer, Expands Product Portfolio | A | https://www.nasdaq.com/articles/macom-mtsi-acquires-linearizer-expands-product-portfolio | nan | nan | MACOM Technology Solutions MTSI has acquired Linearizer Communications Group ("LCG") for $49 million.
LCG is well-known for correcting distortion in communications systems and linear optical links. Moreover, the company focuses on non-linear microwave predistortion and high-performance microwave photonic solutions.
We note that MACOM’s component and subsystem design capabilities are likely to get enhanced upon the completion of the underlined buyout.
This, in turn, is expected to expand its end-market exposure, especially in the industrial and defense markets. Moreover, with LCG’s robust solutions, MACOM remains well-poised to gain solid momentum across terrestrial, avionic and space-based applications.
MACOM Technology Solutions Holdings, Inc. Price and Consensus
MACOM Technology Solutions Holdings, Inc. price-consensus-chart | MACOM Technology Solutions Holdings, Inc. Quote
Growth Prospects
The LCG acquisition is expected to expand MACOM’s footprint in the booming photonic solutions market.
According to a report from Fortune Business Insights, the global photonics market is expected to reach $1.3 trillion by 2028, at a CAGR of 6.7% between 2021 and 2028.
Per a Mordor Intelligence report, the market is anticipated to hit $1.1 trillion by 2027 at a CAGR of 7.5% between 2022 and 2027.
Notably, MACOM’s strong prospects, in this promising market on the back of the underlined acquisition, will likely aid its financial performance in the near future. Also, the prospects are expected to aid MTSI in winning investors’ confidence.
Coming to the price performance, MACOM has gained 20.5% in the past year, outperforming the industry’s growth of 12.9%.
Portfolio Strength
The latest move bodes well for the company’s growing efforts toward expanding its product portfolio.
Apart from LCG, MACOM recently signed a definitive agreement to buy the assets and operations of OMMIC SAS. Notably, this acquisition is expected to drive MACOM’s momentum in microwave applications across the telecommunications, industrial, and aerospace and defense markets. Further, it will boost MACOM’s wafer production capability.
Moreover, MTSI’s footprint in the European markets is expected to get strengthened upon the completion of the buyout.
In addition to strategic acquisitions, MTSI recently unveiled a 226Gbps per lane technology product family that comprises transimpedance amplifiers, MATA-40734 and MATA-40736, externally modulated laser driver, MAOM-011112 and a photodiode, MARP-BP112. Notably, the new product family aids the development of 1.6TB optical modules.
In addition, MTSI keeps bringing reliable and efficient technologies to provide better solutions to customers.
We believe that MACOM’s portfolio strength will continue to help it sustain momentum among customers.
Zacks Rank & Stocks to Consider
Currently, MACOM carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader technology sector are Arista Networks ANET, Agilent Technologies A and AMETEK AME. While Arista Networks sports a Zacks Rank #1 (Strong Buy), Agilent and AMETEK carry a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Arista Networks shares have gained 22.7% in the past year. The long-term earnings growth rate for ANET is currently projected at 14.17%.
Agilent shares have gained 4.9% in the past year. A’s long-term earnings growth rate is currently projected at 12%.
AMETEK shares have gained 9.8% in the past year. The long-term earnings growth rate for AME is currently projected at 8.81%.
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Agilent Technologies, Inc. (A) : 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. | Moreover, with LCG’s robust solutions, MACOM remains well-poised to gain solid momentum across terrestrial, avionic and space-based applications. Notably, this acquisition is expected to drive MACOM’s momentum in microwave applications across the telecommunications, industrial, and aerospace and defense markets. In addition to strategic acquisitions, MTSI recently unveiled a 226Gbps per lane technology product family that comprises transimpedance amplifiers, MATA-40734 and MATA-40736, externally modulated laser driver, MAOM-011112 and a photodiode, MARP-BP112. | MACOM Technology Solutions Holdings, Inc. Price and Consensus MACOM Technology Solutions Holdings, Inc. price-consensus-chart | MACOM Technology Solutions Holdings, Inc. Quote Growth Prospects The LCG acquisition is expected to expand MACOM’s footprint in the booming photonic solutions market. While Arista Networks sports a Zacks Rank #1 (Strong Buy), Agilent and AMETEK carry a Zacks Rank #2 (Buy) at present. Click to get this free report Agilent Technologies, Inc. (A) : Free Stock Analysis Report AMETEK, Inc. (AME) : Free Stock Analysis Report MACOM Technology Solutions Holdings, Inc. (MTSI) : Free Stock Analysis Report Arista Networks, Inc. (ANET) : Free Stock Analysis Report To read this article on Zacks.com click here. | MACOM Technology Solutions Holdings, Inc. Price and Consensus MACOM Technology Solutions Holdings, Inc. price-consensus-chart | MACOM Technology Solutions Holdings, Inc. Quote Growth Prospects The LCG acquisition is expected to expand MACOM’s footprint in the booming photonic solutions market. Zacks Rank & Stocks to Consider Currently, MACOM carries a Zacks Rank #3 (Hold). Click to get this free report Agilent Technologies, Inc. (A) : Free Stock Analysis Report AMETEK, Inc. (AME) : Free Stock Analysis Report MACOM Technology Solutions Holdings, Inc. (MTSI) : Free Stock Analysis Report Arista Networks, Inc. (ANET) : Free Stock Analysis Report To read this article on Zacks.com click here. | MACOM Technology Solutions Holdings, Inc. Price and Consensus MACOM Technology Solutions Holdings, Inc. price-consensus-chart | MACOM Technology Solutions Holdings, Inc. Quote Growth Prospects The LCG acquisition is expected to expand MACOM’s footprint in the booming photonic solutions market. Some better-ranked stocks in the broader technology sector are Arista Networks ANET, Agilent Technologies A and AMETEK AME. See New Top 10 Stocks >> Want the latest recommendations from Zacks Investment Research? | 771a02ef-d8a0-4c1c-aa30-ca42f29c963e |
212.0 | 2023-02-28 00:00:00 UTC | Agilent Technologies Q1 Profit Increases, beats estimates | A | https://www.nasdaq.com/articles/agilent-technologies-q1-profit-increases-beats-estimates | nan | nan | (RTTNews) - Agilent Technologies (A) revealed earnings for its first quarter that increased from the same period last year and beat the Street estimates.
The company's earnings came in at $352 million, or $1.19 per share. This compares with $283 million, or $0.93 per share, in last year's first quarter.
Excluding items, Agilent Technologies reported adjusted earnings of $406 million or $1.37 per share for the period.
Analysts on average had expected the company to earn $1.30 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter rose 5.4% to $1.76 billion from $1.67 billion last year.
Agilent Technologies earnings at a glance (GAAP) :
-Earnings (Q1): $352 Mln. vs. $283 Mln. last year. -EPS (Q1): $1.19 vs. $0.93 last year. -Analyst Estimate: $1.30 -Revenue (Q1): $1.76 Bln vs. $1.67 Bln last year.
-Guidance: Next quarter EPS guidance: $1.24 - $1.27 Next quarter revenue guidance: $1.655 - $1.680 Bln Full year EPS guidance: $5.65 - $5.70 Full year revenue guidance: $7.03 - $7.10 Bln
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (RTTNews) - Agilent Technologies (A) revealed earnings for its first quarter that increased from the same period last year and beat the Street estimates. Excluding items, Agilent Technologies reported adjusted earnings of $406 million or $1.37 per share for the period. Analysts on average had expected the company to earn $1.30 per share, according to figures compiled by Thomson Reuters. | Excluding items, Agilent Technologies reported adjusted earnings of $406 million or $1.37 per share for the period. -Analyst Estimate: $1.30 -Revenue (Q1): $1.76 Bln vs. $1.67 Bln last year. -Guidance: Next quarter EPS guidance: $1.24 - $1.27 Next quarter revenue guidance: $1.655 - $1.680 Bln Full year EPS guidance: $5.65 - $5.70 Full year revenue guidance: $7.03 - $7.10 Bln The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (RTTNews) - Agilent Technologies (A) revealed earnings for its first quarter that increased from the same period last year and beat the Street estimates. Excluding items, Agilent Technologies reported adjusted earnings of $406 million or $1.37 per share for the period. -Guidance: Next quarter EPS guidance: $1.24 - $1.27 Next quarter revenue guidance: $1.655 - $1.680 Bln Full year EPS guidance: $5.65 - $5.70 Full year revenue guidance: $7.03 - $7.10 Bln The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Excluding items, Agilent Technologies reported adjusted earnings of $406 million or $1.37 per share for the period. Agilent Technologies earnings at a glance (GAAP) : -Earnings (Q1): $352 Mln. -Analyst Estimate: $1.30 -Revenue (Q1): $1.76 Bln vs. $1.67 Bln last year. | f18d317b-de50-417a-8caa-4cf6a6c106d8 |
213.0 | 2023-02-28 00:00:00 UTC | Agilent Technologies Q1 23 Earnings Conference Call At 4:30 PM ET | A | https://www.nasdaq.com/articles/agilent-technologies-q1-23-earnings-conference-call-at-4%3A30-pm-et | nan | nan | (RTTNews) - Agilent Technologies (A) will host a conference call at 4:30 PM ET on February 28, 2023, to discuss Q1 23 earnings results.
To access the live webcast, log on to https://www.investor.agilent.com/news-and-events/events/default.aspx
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (RTTNews) - Agilent Technologies (A) will host a conference call at 4:30 PM ET on February 28, 2023, to discuss Q1 23 earnings results. To access the live webcast, log on to https://www.investor.agilent.com/news-and-events/events/default.aspx The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (RTTNews) - Agilent Technologies (A) will host a conference call at 4:30 PM ET on February 28, 2023, to discuss Q1 23 earnings results. To access the live webcast, log on to https://www.investor.agilent.com/news-and-events/events/default.aspx The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (RTTNews) - Agilent Technologies (A) will host a conference call at 4:30 PM ET on February 28, 2023, to discuss Q1 23 earnings results. To access the live webcast, log on to https://www.investor.agilent.com/news-and-events/events/default.aspx The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (RTTNews) - Agilent Technologies (A) will host a conference call at 4:30 PM ET on February 28, 2023, to discuss Q1 23 earnings results. To access the live webcast, log on to https://www.investor.agilent.com/news-and-events/events/default.aspx The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | b554e55d-a979-42b9-8e1e-cee869640abc |
263.0 | 2023-01-26 00:00:00 UTC | Best Growth Stocks to Buy for January 26th | A | https://www.nasdaq.com/articles/best-growth-stocks-to-buy-for-january-26th-0 | nan | nan | Here are three stocks with buy ranks and strong growth characteristics for investors to consider today, January 26th:
Agilent Technologies, Inc. A: This application-focused solutions provider to the life sciences, diagnostics, and applied chemical markets carries a Zacks Rank #1, and has witnessed the Zacks Consensus Estimate for its current year earnings increasing 0.4% over the last 60 days.
Agilent Technologies, Inc. Price and Consensus
Agilent Technologies, Inc. price-consensus-chart | Agilent Technologies, Inc. Quote
Agilent has a PEG ratio of 2.76 compared with 5.26 for the industry. The company possesses a Growth Score of B.
Agilent Technologies, Inc. PEG Ratio (TTM)
Agilent Technologies, Inc. peg-ratio-ttm | Agilent Technologies, Inc. Quote
Wolters Kluwer N.V. WTKWY: This professional information, software solutions, and services company carries a Zacks Rank #1, and has witnessed the Zacks Consensus Estimate for its current year earnings increasing 4.6% over the last 60 days.
Wolters Kluwer NV Price and Consensus
Wolters Kluwer NV price-consensus-chart | Wolters Kluwer NV Quote
Wolters Kluwer has a PEG ratio of 2.01 compared with 2.42 for the industry. The company possesses a Growth Score of A.
Wolters Kluwer NV PEG Ratio (TTM)
Wolters Kluwer NV peg-ratio-ttm | Wolters Kluwer NV Quote
KnowBe4, Inc. KNBE: This company that engages in the development, marketing, and sale of its Software-as-a-Service-based security awareness platform carries a Zacks Rank #1, and has witnessed the Zacks Consensus Estimate for its current year earnings increasing 8.7% over the last 60 days.
KnowBe4, Inc. Price and Consensus
KnowBe4, Inc. price-consensus-chart | KnowBe4, Inc. Quote
KnowBe4 has a PEG ratio of 1.61 compared with 2.31 for the industry. The company possesses a Growth Score of A.
KnowBe4, Inc. PEG Ratio (TTM)
KnowBe4, Inc. peg-ratio-ttm | KnowBe4, Inc. Quote
See the full list of top ranked stocks here.
Learn more about the Growth score and how it is calculated here.
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Agilent Technologies, Inc. (A) : 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. | Here are three stocks with buy ranks and strong growth characteristics for investors to consider today, January 26th: Agilent Technologies, Inc. A: This application-focused solutions provider to the life sciences, diagnostics, and applied chemical markets carries a Zacks Rank #1, and has witnessed the Zacks Consensus Estimate for its current year earnings increasing 0.4% over the last 60 days. The company possesses a Growth Score of A. KnowBe4, Inc. PEG Ratio (TTM) KnowBe4, Inc. peg-ratio-ttm | KnowBe4, Inc. Quote See the full list of top ranked stocks here. Free Report: Must-See Energy Stocks for 2023 Record profits at oil companies can mean big gains for you. | The company possesses a Growth Score of B. Agilent Technologies, Inc. PEG Ratio (TTM) Agilent Technologies, Inc. peg-ratio-ttm | Agilent Technologies, Inc. Quote Wolters Kluwer N.V. WTKWY: This professional information, software solutions, and services company carries a Zacks Rank #1, and has witnessed the Zacks Consensus Estimate for its current year earnings increasing 4.6% over the last 60 days. The company possesses a Growth Score of A. Wolters Kluwer NV PEG Ratio (TTM) Wolters Kluwer NV peg-ratio-ttm | Wolters Kluwer NV Quote KnowBe4, Inc. KNBE: This company that engages in the development, marketing, and sale of its Software-as-a-Service-based security awareness platform carries a Zacks Rank #1, and has witnessed the Zacks Consensus Estimate for its current year earnings increasing 8.7% over the last 60 days. Click to get this free report Agilent Technologies, Inc. (A) : Free Stock Analysis Report Wolters Kluwer NV (WTKWY) : Free Stock Analysis Report KnowBe4, Inc. (KNBE) : Free Stock Analysis Report To read this article on Zacks.com click here. | The company possesses a Growth Score of B. Agilent Technologies, Inc. PEG Ratio (TTM) Agilent Technologies, Inc. peg-ratio-ttm | Agilent Technologies, Inc. Quote Wolters Kluwer N.V. WTKWY: This professional information, software solutions, and services company carries a Zacks Rank #1, and has witnessed the Zacks Consensus Estimate for its current year earnings increasing 4.6% over the last 60 days. The company possesses a Growth Score of A. Wolters Kluwer NV PEG Ratio (TTM) Wolters Kluwer NV peg-ratio-ttm | Wolters Kluwer NV Quote KnowBe4, Inc. KNBE: This company that engages in the development, marketing, and sale of its Software-as-a-Service-based security awareness platform carries a Zacks Rank #1, and has witnessed the Zacks Consensus Estimate for its current year earnings increasing 8.7% over the last 60 days. Click to get this free report Agilent Technologies, Inc. (A) : Free Stock Analysis Report Wolters Kluwer NV (WTKWY) : Free Stock Analysis Report KnowBe4, Inc. (KNBE) : Free Stock Analysis Report To read this article on Zacks.com click here. | The company possesses a Growth Score of B. Agilent Technologies, Inc. PEG Ratio (TTM) Agilent Technologies, Inc. peg-ratio-ttm | Agilent Technologies, Inc. Quote Wolters Kluwer N.V. WTKWY: This professional information, software solutions, and services company carries a Zacks Rank #1, and has witnessed the Zacks Consensus Estimate for its current year earnings increasing 4.6% over the last 60 days. The company possesses a Growth Score of A. KnowBe4, Inc. PEG Ratio (TTM) KnowBe4, Inc. peg-ratio-ttm | KnowBe4, Inc. Quote See the full list of top ranked stocks here. Click to get this free report Agilent Technologies, Inc. (A) : Free Stock Analysis Report Wolters Kluwer NV (WTKWY) : Free Stock Analysis Report KnowBe4, Inc. (KNBE) : Free Stock Analysis Report To read this article on Zacks.com click here. | 73ad55ad-e159-4ed9-980c-31ef5e165c01 |
266.0 | 2023-01-23 00:00:00 UTC | Agilent Inks Deal With Quest Diagnostics To Offer CtDx FIRST Liquid Biopsy Test Across US | A | https://www.nasdaq.com/articles/agilent-inks-deal-with-quest-diagnostics-to-offer-ctdx-first-liquid-biopsy-test-across-us | nan | nan | (RTTNews) - Agilent Technologies, Inc. (A) announced Monday an agreement with Quest Diagnostics (DGX), a diagnostic information services company, to enable providers and patients throughout the U.S. to access the Agilent Resolution ctDx FIRST liquid biopsy next-generation sequencing (NGS) test.
Healthcare providers can now order the test electronically through the Quest connectivity platform, which connects to hundreds of electronic medical records (EMRs). They may direct patients to provide specimens at one of Quest's 2,100 patient service centers across the U.S.
The agreement between Quest and Agilent will enable broad adoption for ctDx FIRST, a single-site premarket approved (ssPMA) test performed at the Resolution Bioscience CLIA laboratory in Kirkland, Washington.
ctDx FIRST is the first liquid biopsy test approved by the U.S. Food and Drug Administration (FDA) as a companion diagnostic (CDx) to identify advanced non-small cell lung cancer (NSCLC) patients who may benefit from treatment with KRAZATI. It is a minimally invasive liquid biopsy test option as a CDx for KRAZATI.
KRAZATI (adagrasib) received accelerated approval as a targeted treatment option for adult patients with KRASG12C-mutated locally advanced or metastatic NSCLC, as determined by an FDA-approved test, who have received at least one prior systemic therapy. As a professional service, the ctDx FIRST test report includes comprehensive genomic profiling on 109 genes across four types of alterations: single nucleotide variants, indels, copy number amplifications, and fusions.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The agreement between Quest and Agilent will enable broad adoption for ctDx FIRST, a single-site premarket approved (ssPMA) test performed at the Resolution Bioscience CLIA laboratory in Kirkland, Washington. ctDx FIRST is the first liquid biopsy test approved by the U.S. Food and Drug Administration (FDA) as a companion diagnostic (CDx) to identify advanced non-small cell lung cancer (NSCLC) patients who may benefit from treatment with KRAZATI. As a professional service, the ctDx FIRST test report includes comprehensive genomic profiling on 109 genes across four types of alterations: single nucleotide variants, indels, copy number amplifications, and fusions. | (RTTNews) - Agilent Technologies, Inc. (A) announced Monday an agreement with Quest Diagnostics (DGX), a diagnostic information services company, to enable providers and patients throughout the U.S. to access the Agilent Resolution ctDx FIRST liquid biopsy next-generation sequencing (NGS) test. ctDx FIRST is the first liquid biopsy test approved by the U.S. Food and Drug Administration (FDA) as a companion diagnostic (CDx) to identify advanced non-small cell lung cancer (NSCLC) patients who may benefit from treatment with KRAZATI. It is a minimally invasive liquid biopsy test option as a CDx for KRAZATI. | (RTTNews) - Agilent Technologies, Inc. (A) announced Monday an agreement with Quest Diagnostics (DGX), a diagnostic information services company, to enable providers and patients throughout the U.S. to access the Agilent Resolution ctDx FIRST liquid biopsy next-generation sequencing (NGS) test. ctDx FIRST is the first liquid biopsy test approved by the U.S. Food and Drug Administration (FDA) as a companion diagnostic (CDx) to identify advanced non-small cell lung cancer (NSCLC) patients who may benefit from treatment with KRAZATI. KRAZATI (adagrasib) received accelerated approval as a targeted treatment option for adult patients with KRASG12C-mutated locally advanced or metastatic NSCLC, as determined by an FDA-approved test, who have received at least one prior systemic therapy. | (RTTNews) - Agilent Technologies, Inc. (A) announced Monday an agreement with Quest Diagnostics (DGX), a diagnostic information services company, to enable providers and patients throughout the U.S. to access the Agilent Resolution ctDx FIRST liquid biopsy next-generation sequencing (NGS) test. Healthcare providers can now order the test electronically through the Quest connectivity platform, which connects to hundreds of electronic medical records (EMRs). ctDx FIRST is the first liquid biopsy test approved by the U.S. Food and Drug Administration (FDA) as a companion diagnostic (CDx) to identify advanced non-small cell lung cancer (NSCLC) patients who may benefit from treatment with KRAZATI. | 349a67bb-dc5b-496b-809e-fa0f7505771c |
271.0 | 2023-01-19 00:00:00 UTC | Texas Instruments (TXN) Introduces Ultrasonic Lens Chipsets | A | https://www.nasdaq.com/articles/texas-instruments-txn-introduces-ultrasonic-lens-chipsets | nan | nan | Texas Instruments TXN launched ultrasonic lens cleaning semiconductors named the ULC1001 digital signal processor and companion DRV2901 piezo transducer driver.
Featuring a proprietary technology, the chipsets use microscopic vibrations to enable camera systems in quickly detecting and removing contaminants from camera lenses.
With the new ultrasonic lens cleaning chipsets, TXN focuses on improving system accuracy and thereby reducing maintenance requirements.
The semiconductors will cater to the growing need of simple and self-cleaning cameras and sensors in various automotive and industrial applications.
On the back of ultrasonic lens cleaning chipsets, Texas Instruments is expected to gain momentum among customers. This, in turn, will contribute well to the company’s top-line growth.
Consequently, this will help Texas Instruments win the confidence of the investors in the near and long terms.
Shares of TXN have been up 0.2% in the past year against the Zacks Computer and Technology sector’s decline of 24.8%.
Texas Instruments Incorporated Price and Consensus
Texas Instruments Incorporated price-consensus-chart | Texas Instruments Incorporated Quote
Expanding Portfolio Offerings
The recent introduction of chipsets bodes well with the company’s growing efforts toward expanding its portfolio of solutions.
Apart from the recent launch, the company unveiled the latest portfolio of isolated solid-state relays to help engineers reduce the cost and size of high-voltage power supplies while maintaining safe electric vehicles.
It introduced a radar sensor called AWR2944 to strengthen its presence in the booming ADAS market. AWR2944 is a 77 GHz sensor integrating a fourth transmitter to provide 33% higher resolution than the existing radar sensors.
It also introduced the 3D Hall-effect position sensor named TMAG5170. With the help of this sensor, engineers are able to get uncalibrated ultra-high precision at high speed for quick and accurate real-time control in factory automation and motor-drive applications.
Though Texas Instruments’ growing portfolio solutions remain a positive, the imposition of new export regulations and softness in the personal electronics end-market remains a headwind.
Zacks Rank & Stocks to Consider
Currently, Texas Instruments has a Zacks Rank #4 (Sell).
Some better-ranked stocks in the broader Zacks Computer & Technology sector are Arista Networks ANET, Agilent Technologies A and Asure Software ASUR, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Arista Networks has lost 5.7% in the past year. The long-term earnings growth rate for ANET is currently projected at 17.5%.
Agilent has gained 10.5% in the past year. A’s long-term earnings growth rate is currently projected at 10%.
Asure Software has gained 35.8% in the past year. The long-term earnings growth rate for ASUR is currently projected at 23%.
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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. | Texas Instruments TXN launched ultrasonic lens cleaning semiconductors named the ULC1001 digital signal processor and companion DRV2901 piezo transducer driver. Apart from the recent launch, the company unveiled the latest portfolio of isolated solid-state relays to help engineers reduce the cost and size of high-voltage power supplies while maintaining safe electric vehicles. With the help of this sensor, engineers are able to get uncalibrated ultra-high precision at high speed for quick and accurate real-time control in factory automation and motor-drive applications. | Texas Instruments TXN launched ultrasonic lens cleaning semiconductors named the ULC1001 digital signal processor and companion DRV2901 piezo transducer driver. Some better-ranked stocks in the broader Zacks Computer & Technology sector are Arista Networks ANET, Agilent Technologies A and Asure Software ASUR, each carrying a Zacks Rank #2 (Buy) at present. Click to get this free report Texas Instruments Incorporated (TXN) : Free Stock Analysis Report Agilent Technologies, Inc. (A) : Free Stock Analysis Report Asure Software Inc (ASUR) : Free Stock Analysis Report Arista Networks, Inc. (ANET) : Free Stock Analysis Report To read this article on Zacks.com click here. | Texas Instruments Incorporated Price and Consensus Texas Instruments Incorporated price-consensus-chart | Texas Instruments Incorporated Quote Expanding Portfolio Offerings The recent introduction of chipsets bodes well with the company’s growing efforts toward expanding its portfolio of solutions. Some better-ranked stocks in the broader Zacks Computer & Technology sector are Arista Networks ANET, Agilent Technologies A and Asure Software ASUR, each carrying a Zacks Rank #2 (Buy) at present. Click to get this free report Texas Instruments Incorporated (TXN) : Free Stock Analysis Report Agilent Technologies, Inc. (A) : Free Stock Analysis Report Asure Software Inc (ASUR) : Free Stock Analysis Report Arista Networks, Inc. (ANET) : Free Stock Analysis Report To read this article on Zacks.com click here. | Texas Instruments Incorporated Price and Consensus Texas Instruments Incorporated price-consensus-chart | Texas Instruments Incorporated Quote Expanding Portfolio Offerings The recent introduction of chipsets bodes well with the company’s growing efforts toward expanding its portfolio of solutions. Some better-ranked stocks in the broader Zacks Computer & Technology sector are Arista Networks ANET, Agilent Technologies A and Asure Software ASUR, each carrying a Zacks Rank #2 (Buy) at present. Asure Software has gained 35.8% in the past year. | a1171d0b-7749-428c-b276-10af9553c230 |
275.0 | 2023-01-18 00:00:00 UTC | Jack Henry (JKHY) Expands Credit Card Offerings With TIB | A | https://www.nasdaq.com/articles/jack-henry-jkhy-expands-credit-card-offerings-with-tib | nan | nan | Jack Henry & Associates JKHY expanded its credit card offering in partnership with TIB to strengthen its payment solutions portfolio.
Jack Henry is leveraging TIB’s Agent Credit Card program for this purpose.
With this program, Jack Henry will help various financial institutions to issue credit cards seamlessly.
Financial institutions will be able to purchase and transform their agent portfolios into in-house and self-managed ones on the back of the Agent Credit Card program.
The program’s robust relationship-based underwriting process will allow these institutions to leverage higher approval and card usage rates.
Given these benefits, we believe that Jack Henry will gain solid momentum among financial institutions, which, in turn, will strengthen its customer base.
Expanding Portfolio
The latest move bodes well for the company’s growing efforts toward expanding its solutions portfolio.
Recently, Jack Henry unveiled a policy management solution that streamlines policy creation, review, approvals, attestations, and exceptions with workflows, documentation and storage on a single platform.
Additionally, the company’s recent acquisition of Payrailz remains noteworthy. The buyout allows Jack Henry to aid financial institutions to cater to the needs of consumers and commercial accountholders seamlessly.
On the back of the buyout, JKHY rolled out its standalone person-to-person payment solutions.
Growing Customer Base
An expanding solutions portfolio continues to aid Jack Henry in gaining strong customer momentum.
Recently, the company’s Symitar platform was selected by L&N Federal Credit Union. The latter strives to build and offer solutions through fintech relationships, equip its members with advanced tools, streamline its operations, and boost efficiencies on the back of Symitar.
Further, JKHY got picked by TIB last month. TIB is leveraging the former’s technology platform to support near and long-term operations.
We believe that growing customer momentum will continue to aid the company in winning investor confidence in the near term.
Shares of Jack Henry have gained 10% in the past year against the industry’s decline of 1%.
However, the company is suffering from mounting expenditure. Rising headcounts and personnel costs are weighing on margin expansion. Also, increasing expenses related to the card processing platform are concerning.
Zacks Rank & Stocks to Consider
Currently, Jack Henry carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the broader Zacks Computer & Technology sector are Arista Networks ANET, Agilent technologies A and Asure Software ASUR. All companies carry a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Arista Networks has lost 8.5% in the past year. The long-term earnings growth rate for ANET is projected at 17.5%.
Agilent has gained 10.6% in the past year. A’s long-term earnings growth rate is projected at 10%.
Asure Software has gained 37.9% in the past year. The long-term earnings growth rate for ASUR is projected at 23%.
5 Stocks Set to Double
Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2021. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
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Agilent Technologies, Inc. (A) : 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. | Jack Henry & Associates JKHY expanded its credit card offering in partnership with TIB to strengthen its payment solutions portfolio. Given these benefits, we believe that Jack Henry will gain solid momentum among financial institutions, which, in turn, will strengthen its customer base. The latter strives to build and offer solutions through fintech relationships, equip its members with advanced tools, streamline its operations, and boost efficiencies on the back of Symitar. | Jack Henry & Associates JKHY expanded its credit card offering in partnership with TIB to strengthen its payment solutions portfolio. Growing Customer Base An expanding solutions portfolio continues to aid Jack Henry in gaining strong customer momentum. Click to get this free report Agilent Technologies, Inc. (A) : Free Stock Analysis Report Jack Henry & Associates, Inc. (JKHY) : Free Stock Analysis Report Asure Software Inc (ASUR) : Free Stock Analysis Report Arista Networks, Inc. (ANET) : Free Stock Analysis Report To read this article on Zacks.com click here. | Jack Henry & Associates JKHY expanded its credit card offering in partnership with TIB to strengthen its payment solutions portfolio. Zacks Rank & Stocks to Consider Currently, Jack Henry carries a Zacks Rank #4 (Sell). Click to get this free report Agilent Technologies, Inc. (A) : Free Stock Analysis Report Jack Henry & Associates, Inc. (JKHY) : Free Stock Analysis Report Asure Software Inc (ASUR) : Free Stock Analysis Report Arista Networks, Inc. (ANET) : Free Stock Analysis Report To read this article on Zacks.com click here. | Jack Henry & Associates JKHY expanded its credit card offering in partnership with TIB to strengthen its payment solutions portfolio. TIB is leveraging the former’s technology platform to support near and long-term operations. Today, See These 5 Potential Home Runs >> Want the latest recommendations from Zacks Investment Research? | 0a345016-997b-42e2-937a-67d97ec88f2e |
280.0 | 2023-01-16 00:00:00 UTC | If You Invested $1000 in Agilent Technologies a Decade Ago, This is How Much It'd Be Worth Now | A | https://www.nasdaq.com/articles/if-you-invested-%241000-in-agilent-technologies-a-decade-ago-this-is-how-much-itd-be-worth | nan | nan | For most investors, how much a stock's price changes over time is important. Not only can it impact your investment portfolio, but it can also help you compare investment results across sectors and industries.
FOMO, or the fear of missing out, also plays a role in investing, particularly with tech giants and popular consumer-facing stocks.
What if you'd invested in Agilent Technologies (A) ten years ago? It may not have been easy to hold on to A for all that time, but if you did, how much would your investment be worth today?
Agilent Technologies' Business In-Depth
With that in mind, let's take a look at Agilent Technologies' main business drivers.
Palo Alto, CA-based Agilent Technologies, Inc. was originally a spin-off from Hewlett-Packard. The company is an original equipment manufacturer (OEM) of a broad-based portfolio of test and measurement products serving multiple end markets.
On Nov 1, 2014, Agilent completed the spinoff of its electronic measurement segment into a new company named Keysight Technologies, making it an independent, publicly traded company.
Over the last three years, the company has diversified into new end markets, namely industrial, chemical and electronics markets. The company has three business segments, including Life Sciences & Applied Markets Group (LSAG), Diagnostics and Genomics Group (DGG) and Agilent Cross Lab Group (ACG).
The company uses a direct sales model for the distribution of its products, which is supplemented by distributors, resellers, manufacturers’ representatives, telesales and electronic commerce, as necessary.
Agilent reported revenues of $6.3 billion in fiscal 2021, up 18% from fiscal 2020. The company generated 62% of revenues from markets outside the United States. 35% were derived from Asia-Pacific region in the fiscal 2021.
LSAG accounted for 45% of fiscal 2021 revenues (up 18% from fiscal 2020), DGG contributed 20% (which increased 24% from fiscal 2020) and ACG represented the remaining 35% (improving 16% from fiscal 2020).
Most of the competition for these three segments comes from Bruker Corp., Danaher Corp, Affymetrix, GE Healthcare, Life Technologies Corp., Thermo Fisher Scientific, Waters Corp., Illumina, Inc., Life Technologies Corp., Abbott Laboratories, Sakura, Roche, Perkin Elmer Corp., Shimadzu Corp, Heidenhain Corp., Malvern Instruments, Seiko Instruments, Veeco Instruments and Zygo Corp.
Bottom Line
Anyone can invest, but building a successful investment portfolio takes a combination of a few things: research, patience, and a little bit of risk. So, if you had invested in Agilent Technologies a decade ago, you're probably feeling pretty good about your investment today.
According to our calculations, a $1000 investment made in January 2013 would be worth $3,613.17, or a gain of 261.32%, as of January 16, 2023, and this return excludes dividends but includes price increases.
In comparison, the S&P 500 gained 171.67% and the price of gold went up 9.90% over the same time frame.
Analysts are forecasting more upside for A too.
Agilent is benefiting from continued strong momentum in the pharma and applied markets. Additionally, strength in the Life Sciences & Applied Markets Group (LSAG) segment owing to growth in Liquid Chromatography and Mass Spectrometry instruments remains a major positive. Increase in service agreement attach rate is driving the Agilent Cross Lab Group (ACG) segment. Strength in NASD and Genomics portfolio is contributing well to the Diagnostics and Genomics Group (DGG) segment. We expect LSAG, ACG and DGG segments to grow 0.9%, 0.4% and 1.5% in fiscal 2023 from the year-ago reported figures. However, mounting expenses might hurt the company’s profitability. Our estimate suggests total costs and expenses to witness a year-over-year rise of 4.6% in fiscal 2023. The ongoing conflict in Ukraine remains an overhang as well.
The stock has jumped 5.10% over the past four weeks. Additionally, no earnings estimate has gone lower in the past two months, compared to 8 higher, for fiscal 2023; the consensus estimate has moved up as well.
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It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
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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 company is an original equipment manufacturer (OEM) of a broad-based portfolio of test and measurement products serving multiple end markets. The company uses a direct sales model for the distribution of its products, which is supplemented by distributors, resellers, manufacturers’ representatives, telesales and electronic commerce, as necessary. Additionally, strength in the Life Sciences & Applied Markets Group (LSAG) segment owing to growth in Liquid Chromatography and Mass Spectrometry instruments remains a major positive. | The company has three business segments, including Life Sciences & Applied Markets Group (LSAG), Diagnostics and Genomics Group (DGG) and Agilent Cross Lab Group (ACG). LSAG accounted for 45% of fiscal 2021 revenues (up 18% from fiscal 2020), DGG contributed 20% (which increased 24% from fiscal 2020) and ACG represented the remaining 35% (improving 16% from fiscal 2020). Additionally, strength in the Life Sciences & Applied Markets Group (LSAG) segment owing to growth in Liquid Chromatography and Mass Spectrometry instruments remains a major positive. | The company has three business segments, including Life Sciences & Applied Markets Group (LSAG), Diagnostics and Genomics Group (DGG) and Agilent Cross Lab Group (ACG). LSAG accounted for 45% of fiscal 2021 revenues (up 18% from fiscal 2020), DGG contributed 20% (which increased 24% from fiscal 2020) and ACG represented the remaining 35% (improving 16% from fiscal 2020). Most of the competition for these three segments comes from Bruker Corp., Danaher Corp, Affymetrix, GE Healthcare, Life Technologies Corp., Thermo Fisher Scientific, Waters Corp., Illumina, Inc., Life Technologies Corp., Abbott Laboratories, Sakura, Roche, Perkin Elmer Corp., Shimadzu Corp, Heidenhain Corp., Malvern Instruments, Seiko Instruments, Veeco Instruments and Zygo Corp. Bottom Line Anyone can invest, but building a successful investment portfolio takes a combination of a few things: research, patience, and a little bit of risk. | Over the last three years, the company has diversified into new end markets, namely industrial, chemical and electronics markets. The company has three business segments, including Life Sciences & Applied Markets Group (LSAG), Diagnostics and Genomics Group (DGG) and Agilent Cross Lab Group (ACG). Agilent reported revenues of $6.3 billion in fiscal 2021, up 18% from fiscal 2020. | d2d50ffc-9748-425b-83a2-310b5aca65fb |
286.0 | 2023-01-10 00:00:00 UTC | Tuesday Sector Leaders: Healthcare, Services | A | https://www.nasdaq.com/articles/tuesday-sector-leaders%3A-healthcare-services | nan | nan | In afternoon trading on Tuesday, Healthcare stocks are the best performing sector, higher by 1.1%. Within the sector, STERIS plc (Symbol: STE) and Agilent Technologies, Inc. (Symbol: A) are two large stocks leading the way, showing a gain of 6.3% and 5.1%, respectively. Among healthcare ETFs, one ETF following the sector is the Health Care Select Sector SPDR ETF (Symbol: XLV), which is up 0.7% on the day, and down 0.80% year-to-date. STERIS plc, meanwhile, is up 9.30% year-to-date, and Agilent Technologies, Inc. is up 3.33% year-to-date. Combined, STE and A make up approximately 1.3% of the underlying holdings of XLV.
The next best performing sector is the Services sector, up 0.8%. Among large Services stocks, Warner Bros Discovery Inc (Symbol: WBD) and Netflix Inc (Symbol: NFLX) are the most notable, showing a gain of 6.2% and 3.8%, respectively. One ETF closely tracking Services stocks is the iShares U.S. Consumer Services ETF (IYC), which is up 0.8% in midday trading, and up 4.91% on a year-to-date basis. Warner Bros Discovery Inc, meanwhile, is up 29.30% year-to-date, and Netflix Inc is up 10.95% year-to-date. Combined, WBD and NFLX make up approximately 3.8% of the underlying holdings of IYC.
Comparing these stocks and ETFs on a trailing twelve month basis, below is a relative stock price performance chart, with each of the symbols shown in a different color as labeled in the legend at the bottom:
Here's a snapshot of how the S&P 500 components within the various sectors are faring in afternoon trading on Tuesday. As you can see, eight sectors are up on the day, while one sector is down.
SECTOR % CHANGE
Healthcare +1.1%
Services +0.8%
Technology & Communications +0.6%
Materials +0.6%
Industrial +0.5%
Financial +0.4%
Energy +0.4%
Consumer Products +0.2%
Utilities -0.5%
25 Dividend Giants Widely Held By ETFs »
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Top Monthly Dividend Paying Stocks
SRTS Stock Predictions
Funds Holding ZOES
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In afternoon trading on Tuesday, Healthcare stocks are the best performing sector, higher by 1.1%. Comparing these stocks and ETFs on a trailing twelve month basis, below is a relative stock price performance chart, with each of the symbols shown in a different color as labeled in the legend at the bottom: Here's a snapshot of how the S&P 500 components within the various sectors are faring in afternoon trading on Tuesday. Healthcare +1.1% Services +0.8% Technology & Communications +0.6% Materials +0.6% Industrial +0.5% Financial +0.4% Energy +0.4% Consumer Products +0.2% Utilities -0.5% 25 Dividend Giants Widely Held By ETFs » Also see: Top Monthly Dividend Paying Stocks SRTS Stock Predictions Funds Holding ZOES The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Within the sector, STERIS plc (Symbol: STE) and Agilent Technologies, Inc. (Symbol: A) are two large stocks leading the way, showing a gain of 6.3% and 5.1%, respectively. Among large Services stocks, Warner Bros Discovery Inc (Symbol: WBD) and Netflix Inc (Symbol: NFLX) are the most notable, showing a gain of 6.2% and 3.8%, respectively. Combined, WBD and NFLX make up approximately 3.8% of the underlying holdings of IYC. | Among healthcare ETFs, one ETF following the sector is the Health Care Select Sector SPDR ETF (Symbol: XLV), which is up 0.7% on the day, and down 0.80% year-to-date. Comparing these stocks and ETFs on a trailing twelve month basis, below is a relative stock price performance chart, with each of the symbols shown in a different color as labeled in the legend at the bottom: Here's a snapshot of how the S&P 500 components within the various sectors are faring in afternoon trading on Tuesday. Healthcare +1.1% Services +0.8% Technology & Communications +0.6% Materials +0.6% Industrial +0.5% Financial +0.4% Energy +0.4% Consumer Products +0.2% Utilities -0.5% 25 Dividend Giants Widely Held By ETFs » Also see: Top Monthly Dividend Paying Stocks SRTS Stock Predictions Funds Holding ZOES The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Among healthcare ETFs, one ETF following the sector is the Health Care Select Sector SPDR ETF (Symbol: XLV), which is up 0.7% on the day, and down 0.80% year-to-date. One ETF closely tracking Services stocks is the iShares U.S. Consumer Services ETF (IYC), which is up 0.8% in midday trading, and up 4.91% on a year-to-date basis. In afternoon trading on Tuesday, Healthcare stocks are the best performing sector, higher by 1.1%. | 945988db-d0c9-4cc1-8001-23427c5be781 |
288.0 | 2023-01-09 00:00:00 UTC | Agilent Technologies To Repurchase Up To $2 Bln Of Stock | A | https://www.nasdaq.com/articles/agilent-technologies-to-repurchase-up-to-%242-bln-of-stock | nan | nan | (RTTNews) - Agilent Technologies Inc. (A) said that its board has approved a new share repurchase program. The 2023 program authorizes the purchase of up to $2 billion of the company's common stock. The new program will begin March 1.
The company noted that the new repurchase program replaces Agilent's existing stock repurchase program, which authorized the repurchase of shares to reduce or eliminate share dilution from equity programs.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (RTTNews) - Agilent Technologies Inc. (A) said that its board has approved a new share repurchase program. The 2023 program authorizes the purchase of up to $2 billion of the company's common stock. The company noted that the new repurchase program replaces Agilent's existing stock repurchase program, which authorized the repurchase of shares to reduce or eliminate share dilution from equity programs. | (RTTNews) - Agilent Technologies Inc. (A) said that its board has approved a new share repurchase program. The 2023 program authorizes the purchase of up to $2 billion of the company's common stock. The company noted that the new repurchase program replaces Agilent's existing stock repurchase program, which authorized the repurchase of shares to reduce or eliminate share dilution from equity programs. | (RTTNews) - Agilent Technologies Inc. (A) said that its board has approved a new share repurchase program. The company noted that the new repurchase program replaces Agilent's existing stock repurchase program, which authorized the repurchase of shares to reduce or eliminate share dilution from equity programs. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The new program will begin March 1. The company noted that the new repurchase program replaces Agilent's existing stock repurchase program, which authorized the repurchase of shares to reduce or eliminate share dilution from equity programs. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | 443c2bca-8012-41ed-8d59-ee0ac9fc8389 |
289.0 | 2023-01-09 00:00:00 UTC | Company News for Jan 9, 2023 | A | https://www.nasdaq.com/articles/company-news-for-jan-9-2023 | nan | nan | Shares of World Wrestling Entertainment Inc. WWE soared 17% after the company announced the returning of its founder Vince McMahon to its board of directors to explore a strategic move of a potential sale of the business.
Shares of Costco Wholesale Corp. COST climbed 7.3% after reporting a 7% year over year increase in sales to $23.8 billion in December 2022.
Agilent Technologies Inc.’s A shares fell 2.9% following its decision to form a partnership with Akoya Biosciences to develop solutions for tissue analysis.
R1 RCM Inc.’s RCM shares jumped 10.2% after the company raised its revenue guidance for 2023.
5 Stocks Set to Double
Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2021. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>
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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. | Shares of World Wrestling Entertainment Inc. WWE soared 17% after the company announced the returning of its founder Vince McMahon to its board of directors to explore a strategic move of a potential sale of the business. Agilent Technologies Inc.’s A shares fell 2.9% following its decision to form a partnership with Akoya Biosciences to develop solutions for tissue analysis. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor. | Shares of World Wrestling Entertainment Inc. WWE soared 17% after the company announced the returning of its founder Vince McMahon to its board of directors to explore a strategic move of a potential sale of the business. Click to get this free report World Wrestling Entertainment, Inc. (WWE) : Free Stock Analysis Report Agilent Technologies, Inc. (A) : Free Stock Analysis Report Costco Wholesale Corporation (COST) : Free Stock Analysis Report R1 RCM Inc. (RCM) : 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. | Shares of World Wrestling Entertainment Inc. WWE soared 17% after the company announced the returning of its founder Vince McMahon to its board of directors to explore a strategic move of a potential sale of the business. Click to get this free report World Wrestling Entertainment, Inc. (WWE) : Free Stock Analysis Report Agilent Technologies, Inc. (A) : Free Stock Analysis Report Costco Wholesale Corporation (COST) : Free Stock Analysis Report R1 RCM Inc. (RCM) : 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. | Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Today, See These 5 Potential Home Runs >> Want the latest recommendations from Zacks Investment Research? Click to get this free report World Wrestling Entertainment, Inc. (WWE) : Free Stock Analysis Report Agilent Technologies, Inc. (A) : Free Stock Analysis Report Costco Wholesale Corporation (COST) : Free Stock Analysis Report R1 RCM Inc. (RCM) : Free Stock Analysis Report To read this article on Zacks.com click here. | 74ae1453-3b4b-4ab4-b4b8-73402f7dfd4f |
290.0 | 2023-01-09 00:00:00 UTC | Agilent Technologies To Invest $725 Mln To Double Capacity For Oligos | A | https://www.nasdaq.com/articles/agilent-technologies-to-invest-%24725-mln-to-double-capacity-for-oligos | nan | nan | (RTTNews) - Agilent Technologies Inc. (A) Monday announced that it will invest $725 million to double the manufacturing capacity of therapeutic nucleic acids or Oligos. The investment is in response to the rapid growth of the Oligos market at $1 billion.
The company expects the rendering of the proposed manufacturing facility in Frederick, Colorado, and customer shipments to start in 2026.
The additional capacity will enable it to meet the demand for siRNA and antisense molecules and also significantly increase the number of CRISPR guide RNA programs, the company noted.
The market for therapeutic oligos is projected to grow in double digits annually over the next five years, reaching $2.4 billion in 2027.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (RTTNews) - Agilent Technologies Inc. (A) Monday announced that it will invest $725 million to double the manufacturing capacity of therapeutic nucleic acids or Oligos. The company expects the rendering of the proposed manufacturing facility in Frederick, Colorado, and customer shipments to start in 2026. The additional capacity will enable it to meet the demand for siRNA and antisense molecules and also significantly increase the number of CRISPR guide RNA programs, the company noted. | (RTTNews) - Agilent Technologies Inc. (A) Monday announced that it will invest $725 million to double the manufacturing capacity of therapeutic nucleic acids or Oligos. The investment is in response to the rapid growth of the Oligos market at $1 billion. The market for therapeutic oligos is projected to grow in double digits annually over the next five years, reaching $2.4 billion in 2027. | (RTTNews) - Agilent Technologies Inc. (A) Monday announced that it will invest $725 million to double the manufacturing capacity of therapeutic nucleic acids or Oligos. The additional capacity will enable it to meet the demand for siRNA and antisense molecules and also significantly increase the number of CRISPR guide RNA programs, the company noted. The market for therapeutic oligos is projected to grow in double digits annually over the next five years, reaching $2.4 billion in 2027. | The company expects the rendering of the proposed manufacturing facility in Frederick, Colorado, and customer shipments to start in 2026. The additional capacity will enable it to meet the demand for siRNA and antisense molecules and also significantly increase the number of CRISPR guide RNA programs, the company noted. The market for therapeutic oligos is projected to grow in double digits annually over the next five years, reaching $2.4 billion in 2027. | 2a668dc6-555a-496c-8ea2-22c74581baae |
294.0 | 2023-01-06 00:00:00 UTC | Agilent, Akoya Partner To Drive Multiplex Tissue Assay Development For Biopharma Applications | A | https://www.nasdaq.com/articles/agilent-akoya-partner-to-drive-multiplex-tissue-assay-development-for-biopharma | nan | nan | (RTTNews) - Agilent Technologies Inc. (A) said that it has partnered with Akoya Biosciences Inc. (AKYA) to develop multiplex-immunohistochemistry diagnostic solutions for tissue analysis and to commercialize workflow solutions for multiplex assays in the clinical research market.
Integrating Agilent's Dako Omnis (autostaining instrument) and Akoya's PhenoImager HT for multiplex chromogenic immunohistochemistry (mIHC) and immunofluorescent (mIF) assays will create a singular end-to-end commercial workflow, including reagents, staining, imaging, and analysis.
The companies noted that they will partner to develop chromogenic and immunofluorescent multiplex assays that include spatial analysis for biopharma companies developing precision cancer therapeutics.
Under a separate Value-Added Reseller agreement, Akoya Biosciences will distribute and resell Dako Omnis as a part of the end-to-end multiplex solution.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (RTTNews) - Agilent Technologies Inc. (A) said that it has partnered with Akoya Biosciences Inc. (AKYA) to develop multiplex-immunohistochemistry diagnostic solutions for tissue analysis and to commercialize workflow solutions for multiplex assays in the clinical research market. Integrating Agilent's Dako Omnis (autostaining instrument) and Akoya's PhenoImager HT for multiplex chromogenic immunohistochemistry (mIHC) and immunofluorescent (mIF) assays will create a singular end-to-end commercial workflow, including reagents, staining, imaging, and analysis. The companies noted that they will partner to develop chromogenic and immunofluorescent multiplex assays that include spatial analysis for biopharma companies developing precision cancer therapeutics. | (RTTNews) - Agilent Technologies Inc. (A) said that it has partnered with Akoya Biosciences Inc. (AKYA) to develop multiplex-immunohistochemistry diagnostic solutions for tissue analysis and to commercialize workflow solutions for multiplex assays in the clinical research market. Integrating Agilent's Dako Omnis (autostaining instrument) and Akoya's PhenoImager HT for multiplex chromogenic immunohistochemistry (mIHC) and immunofluorescent (mIF) assays will create a singular end-to-end commercial workflow, including reagents, staining, imaging, and analysis. The companies noted that they will partner to develop chromogenic and immunofluorescent multiplex assays that include spatial analysis for biopharma companies developing precision cancer therapeutics. | (RTTNews) - Agilent Technologies Inc. (A) said that it has partnered with Akoya Biosciences Inc. (AKYA) to develop multiplex-immunohistochemistry diagnostic solutions for tissue analysis and to commercialize workflow solutions for multiplex assays in the clinical research market. Integrating Agilent's Dako Omnis (autostaining instrument) and Akoya's PhenoImager HT for multiplex chromogenic immunohistochemistry (mIHC) and immunofluorescent (mIF) assays will create a singular end-to-end commercial workflow, including reagents, staining, imaging, and analysis. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (RTTNews) - Agilent Technologies Inc. (A) said that it has partnered with Akoya Biosciences Inc. (AKYA) to develop multiplex-immunohistochemistry diagnostic solutions for tissue analysis and to commercialize workflow solutions for multiplex assays in the clinical research market. Integrating Agilent's Dako Omnis (autostaining instrument) and Akoya's PhenoImager HT for multiplex chromogenic immunohistochemistry (mIHC) and immunofluorescent (mIF) assays will create a singular end-to-end commercial workflow, including reagents, staining, imaging, and analysis. The companies noted that they will partner to develop chromogenic and immunofluorescent multiplex assays that include spatial analysis for biopharma companies developing precision cancer therapeutics. | df9ab677-0a42-43d5-a328-d7ce822f8b2d |
296.0 | 2023-01-05 00:00:00 UTC | Garmin (GRMN) Boosts Automotive Offerings With Dash Cam Live | A | https://www.nasdaq.com/articles/garmin-grmn-boosts-automotive-offerings-with-dash-cam-live | nan | nan | Garmin GRMN introduced an always-connected LTE dash cam — Dash Cam Live, in a bid to bolster its automotive segment.
Dash Cam Live, which marks the company’s first LTE-connected dash cam, records high-definition 1440p video with a 140-degree field of view and offers access to a live exterior view of the vehicle.
Users can view everything within sight of the Dash Cam Live in their vehicle with the aid of an LTE subscription and the Garmin Drive app.
The new dash cam provides theft alerts and other incident alerts, reassuring drivers or vehicle owners.
The underlined device is designed to withstand harsh vehicle environments such as direct sunlight and hot car interior temperatures.
With the introduction of Dash Cam Live, Garmin expanded its dash cam offerings.
Garmin Ltd. Price and Consensus
Garmin Ltd. price-consensus-chart | Garmin Ltd. Quote
Growing Portfolio of Automotive Solutions
The latest move bodes well for the company’s strong efforts toward expanding its portfolio of automotive solutions.
Apart from the latest launch, the company unveiled tablet-like 8 and 10-inch RV 895 and RV 1095 navigators, which feature large display, and provide custom vehicle routing and preloaded traveler content in order to deliver an enhanced camping experience.
Garmin’s introduction of the dezlCam OTR710, featuring a high-definition dash cam to provide a safe-driving experience to drivers, is another positive.
It also launched the dezl OTR series of trucking navigators, featuring arrival planning with automatic birds-eye satellite imagery for high-resolution aerial views during truck entries at the security gates and while loading at dock destinations.
The continuous launch of automotive solutions is expected to help Garmin bolster its presence in the growing automotive market.
This, in turn, is likely to aid GRMN in raising investors' optimism about the stock in the days ahead.
Notably, shares of GRMN have been down 28% over a year.
Customer Base to Expand
We believe that expanding the automotive solutions portfolio will continue to strengthen its customer base.
Recently, Palomino RV selected the Garmin ONE (Operation, Navigation, Entertainment) solution to boost its Pause line of travel trailers. With the Garmin ONE technology, Palomino aims to provide camping trailer users with seamless control of camper systems, navigation and entertainment.
Arctic Cat also chose Garmin’s Tread navigators to outfit the new Wildcat XX Black Hills Edition side-by-side vehicles for technical trail riding, difficult climbs and rock crawling.
We note that the strengthening clientele will continue to drive GRMN’s automotive segment revenues in the days ahead.
The automotive segment generated $135.6 million in sales, accounting for 12% of the total third-quarter 2022 revenues.
Zacks Rank & Stocks to Consider
Currently, Garmin carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader Zacks Computer & Technology sector are Arista Networks ANET, Agilent technologies A and ASML Holding ASML. While Arista Networks currently sports a Zacks Rank #1 (Strong Buy), Agilent and ASML Holding carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Arista Networks has lost 16.7% in the past year. The long-term earnings growth rate for ANET is projected at 17.5%.
Agilent has lost 7.9% in the past year. A’s long-term earnings growth rate is projected at 10%.
ASML Holding has lost 31.5% in the past year. The long-term earnings growth rate for ASML is projected at 23.74%.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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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. | Recently, Palomino RV selected the Garmin ONE (Operation, Navigation, Entertainment) solution to boost its Pause line of travel trailers. With the Garmin ONE technology, Palomino aims to provide camping trailer users with seamless control of camper systems, navigation and entertainment. Arctic Cat also chose Garmin’s Tread navigators to outfit the new Wildcat XX Black Hills Edition side-by-side vehicles for technical trail riding, difficult climbs and rock crawling. | With the introduction of Dash Cam Live, Garmin expanded its dash cam offerings. While Arista Networks currently sports a Zacks Rank #1 (Strong Buy), Agilent and ASML Holding carry a Zacks Rank #2 (Buy). Click to get this free report Garmin Ltd. (GRMN) : Free Stock Analysis Report Agilent Technologies, Inc. (A) : Free Stock Analysis Report ASML Holding N.V. (ASML) : Free Stock Analysis Report Arista Networks, Inc. (ANET) : Free Stock Analysis Report To read this article on Zacks.com click here. | Garmin GRMN introduced an always-connected LTE dash cam — Dash Cam Live, in a bid to bolster its automotive segment. Garmin Ltd. Price and Consensus Garmin Ltd. price-consensus-chart | Garmin Ltd. Quote Growing Portfolio of Automotive Solutions The latest move bodes well for the company’s strong efforts toward expanding its portfolio of automotive solutions. Click to get this free report Garmin Ltd. (GRMN) : Free Stock Analysis Report Agilent Technologies, Inc. (A) : Free Stock Analysis Report ASML Holding N.V. (ASML) : Free Stock Analysis Report Arista Networks, Inc. (ANET) : Free Stock Analysis Report To read this article on Zacks.com click here. | Garmin GRMN introduced an always-connected LTE dash cam — Dash Cam Live, in a bid to bolster its automotive segment. Some better-ranked stocks in the broader Zacks Computer & Technology sector are Arista Networks ANET, Agilent technologies A and ASML Holding ASML. ASML Holding has lost 31.5% in the past year. | 923833cd-7801-4be1-8794-726277972dea |
298.0 | 2023-01-05 00:00:00 UTC | NXP (NXPI) Boosts Portfolio With i.MX 95 Application Processors | A | https://www.nasdaq.com/articles/nxp-nxpi-boosts-portfolio-with-i.mx-95-application-processors | nan | nan | NXP Semiconductors N.V. NXPI expanded its i.MX 9 series of application processors with the addition of i.MX 95 family processors.
The i.MX 95 family processors include immersive Arm Mali powered 3D graphics, high-performance and multi-core compute, and NXP eIQ Neutron Neural Processing Unit.
The latest processors incorporate a secure enclave for seamless implementation of security critical functions. The processors also implement NXP’s Energy Flex architecture to let developers run real-time safety domain at all times for sensor data monitoring.
By combining the i.MX 95 family processors with its expertise in functional safety, high-performance CPU cores and high-throughput connectivity, NXP aims to set a standard for safe and secure edge platforms.
Based on the above-mentioned features, the recent i.MX 95 processors are useful for machine learning and high-speed data processing for advanced applications in automotive, industrial, networking, connectivity and advanced human machine interface.
NXP Semiconductors N.V. Price and Consensus
NXP Semiconductors N.V. price-consensus-chart | NXP Semiconductors N.V. Quote
Growing i.MX Application Processors Portfolio
NXP is consistently bringing efficient and reliable portfolio of i.MX applications processors used for various multi-media and display applications. The recent introduction of i.MX 95 family processors is a step forward in this direction.
Apart from the recent launch, the company unveiled the i.MX 93 family of application processors that use machine learning for automotive, smart home, smart building and smart factory applications.
Further, it expanded the EdgeVerse portfolio with i.MX 8ULP, Microsoft Azure Sphere-certified i.MX 8ULP-CS and i.MX 9 applications processors to enhance security, as well as energy efficiency.
We expect the expansion of its portfolio of i.MX application processors to be the key factor behind NXP’s growth in the days ahead.
This, in turn, will help NXPI win the confidence of the investors in the near term and the long haul.
Shares of NXP have lost 29.7% in the past year, outperforming the Computer and Technology sector’s decline of 33.4%.
Booming Application Processors' Prospects
NXP’s strength in the i.MX application processors will continue to help it capitalize in the growing prospects in the application processor market.
Per a MMR report, the global application processor market is expected to reach $38.7 billion by 2027, witnessing a CAGR of 6.7% between 2022 and 2027.
According to an imarc report, the same market is likely to hit $44.3 billion by 2028 from $35.2 billion in 2022, seeing a CAGR of 3.8% during the 2023-2028 period.
Though NXPI’s strengthening efforts toward application processors remain a positive, the coronavirus pandemic-induced supply-chain constraint and mounting expenses continue to remain major headwinds.
Zacks Rank & Stocks to Consider
Currently, NXP Semiconductors carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the broader Zacks Computer & Technology sector are Arista Networks ANET, Agilent technologies A and Asure Software ASUR. While Arista Networks and Asure Software currently sport a Zacks Rank #1 (Strong Buy), Agilent carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Arista Networks has lost 14.5% in the past year. The long-term earnings growth rate for ANET is projected at 17.5%.
Agilent has gained 2.1% in the past year. A’s long-term earnings growth rate is projected at 10%.
Asure Software has returned 34.1% in the past year. The long-term earnings growth rate for ASUR is projected at 23%.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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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 i.MX 95 family processors include immersive Arm Mali powered 3D graphics, high-performance and multi-core compute, and NXP eIQ Neutron Neural Processing Unit. The processors also implement NXP’s Energy Flex architecture to let developers run real-time safety domain at all times for sensor data monitoring. By combining the i.MX 95 family processors with its expertise in functional safety, high-performance CPU cores and high-throughput connectivity, NXP aims to set a standard for safe and secure edge platforms. | NXP Semiconductors N.V. Price and Consensus NXP Semiconductors N.V. price-consensus-chart | NXP Semiconductors N.V. Quote Growing i.MX Application Processors Portfolio NXP is consistently bringing efficient and reliable portfolio of i.MX applications processors used for various multi-media and display applications. Some better-ranked stocks in the broader Zacks Computer & Technology sector are Arista Networks ANET, Agilent technologies A and Asure Software ASUR. Click to get this free report Agilent Technologies, Inc. (A) : Free Stock Analysis Report NXP Semiconductors N.V. (NXPI) : Free Stock Analysis Report Asure Software Inc (ASUR) : Free Stock Analysis Report Arista Networks, Inc. (ANET) : Free Stock Analysis Report To read this article on Zacks.com click here. | NXP Semiconductors N.V. Price and Consensus NXP Semiconductors N.V. price-consensus-chart | NXP Semiconductors N.V. Quote Growing i.MX Application Processors Portfolio NXP is consistently bringing efficient and reliable portfolio of i.MX applications processors used for various multi-media and display applications. Booming Application Processors' Prospects NXP’s strength in the i.MX application processors will continue to help it capitalize in the growing prospects in the application processor market. Click to get this free report Agilent Technologies, Inc. (A) : Free Stock Analysis Report NXP Semiconductors N.V. (NXPI) : Free Stock Analysis Report Asure Software Inc (ASUR) : Free Stock Analysis Report Arista Networks, Inc. (ANET) : Free Stock Analysis Report To read this article on Zacks.com click here. | NXP Semiconductors N.V. NXPI expanded its i.MX 9 series of application processors with the addition of i.MX 95 family processors. We expect the expansion of its portfolio of i.MX application processors to be the key factor behind NXP’s growth in the days ahead. Some better-ranked stocks in the broader Zacks Computer & Technology sector are Arista Networks ANET, Agilent technologies A and Asure Software ASUR. | 660ce9b6-f651-449d-aa09-24f15fe2a278 |
305.0 | 2022-12-29 00:00:00 UTC | Alphabet (GOOGL) to Strengthen Chrome With Security Option | A | https://www.nasdaq.com/articles/alphabet-googl-to-strengthen-chrome-with-security-option | nan | nan | Alphabet’s GOOGL division Google is consistently adding new features to its web browser named Google Chrome.
This is evident from the fact that the company is working on a security option on Google Chrome to provide an enhanced security experience to Chrome users.
The option will protect Chrome users by blocking all potentially insecure HTTP downloads if the downloading content originates from an unsafe HTTP site or a HTTPS download link is redirected to an insecure HTTP server.
Currently, the security feature is in development mode. It is likely to get launched in later 2023.
With the security option on Chrome, Google aims to retain the trust of Chrome users. This is expected to boost the adoption rate of Chrome in the days ahead.
Alphabet Inc. Price and Consensus
Alphabet Inc. price-consensus-chart | Alphabet Inc. Quote
Growing Google Chrome Initiatives
Apart from the recent initiative, Google introduced memory saver and energy saver modes on Chrome to improve the browser’s performance.
Google also introduced a shortcut feature on Chrome for desktop version. The feature lets user instantly search history and bookmarks from the address bar.
Google added a capability to Chrome for iOS users. The capability allows iOS users to quickly open external links from other apps using Incognito.
Google also redesigned Chrome for iPhone and iPad users. The updated Chrome version provides an enhanced security and performance.
Bottom Line
The growing efforts are expected to continue helping Google gain momentum among users across the world.
This, in turn, will contribute well to Google’s parent, Alphabet’s Google services’ revenues in the upcoming period.
Revenues from the Google services business increased 2.5% year over year to $61.4 billion, accounting for 88.8% of the total third-quarter revenues.
Though increasing Google Chrome efforts remain positive, sluggishness in the advertisement business, growing litigation issues and mounting expenses remain major concerns for Alphabet.
Shares of Alphabet have been down 41.1% in the past year compared with the Computer and Technology sector’s decline of 38.1%.
Zacks Rank & Stocks to Consider
Currently, Alphabet carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the broader Zacks Computer & Technology sector are Arista Networks ANET, Agilent technologies A and Asure Software ASUR. While Arista Networks and Asure Software sport a Zacks Rank #1 (Strong Buy), Agilent carries a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Arista Networks has lost 16.7% in the past year. The long-term earnings growth rate for ANET is currently projected at 17.5%.
Agilent has lost 7.9% in the past year. A’s long-term earnings growth rate is currently projected at 10%.
Asure Software has gained 10.3% in the past year. The long-term earnings growth rate for ASUR is currently projected at 23%.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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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 capability allows iOS users to quickly open external links from other apps using Incognito. Bottom Line The growing efforts are expected to continue helping Google gain momentum among users across the world. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time. | Alphabet Inc. Price and Consensus Alphabet Inc. price-consensus-chart | Alphabet Inc. Quote Growing Google Chrome Initiatives Apart from the recent initiative, Google introduced memory saver and energy saver modes on Chrome to improve the browser’s performance. Some better-ranked stocks in the broader Zacks Computer & Technology sector are Arista Networks ANET, Agilent technologies A and Asure Software ASUR. Click to get this free report Agilent Technologies, Inc. (A) : Free Stock Analysis Report Asure Software Inc (ASUR) : Free Stock Analysis Report Alphabet Inc. (GOOGL) : Free Stock Analysis Report Arista Networks, Inc. (ANET) : Free Stock Analysis Report To read this article on Zacks.com click here. | Alphabet’s GOOGL division Google is consistently adding new features to its web browser named Google Chrome. Alphabet Inc. Price and Consensus Alphabet Inc. price-consensus-chart | Alphabet Inc. Quote Growing Google Chrome Initiatives Apart from the recent initiative, Google introduced memory saver and energy saver modes on Chrome to improve the browser’s performance. Click to get this free report Agilent Technologies, Inc. (A) : Free Stock Analysis Report Asure Software Inc (ASUR) : Free Stock Analysis Report Alphabet Inc. (GOOGL) : Free Stock Analysis Report Arista Networks, Inc. (ANET) : Free Stock Analysis Report To read this article on Zacks.com click here. | Currently, the security feature is in development mode. Some better-ranked stocks in the broader Zacks Computer & Technology sector are Arista Networks ANET, Agilent technologies A and Asure Software ASUR. Asure Software has gained 10.3% in the past year. | 542a4114-7765-48be-b3a8-36537b78a64a |
313.0 | 2022-12-19 00:00:00 UTC | Alphabet (GOOGL) Enhances Google Voice With Recent Features | A | https://www.nasdaq.com/articles/alphabet-googl-enhances-google-voice-with-recent-features | nan | nan | Alphabet’s GOOGL division Google is consistently working toward enhancing its telephonic service, Google Voice.
This is evident from its recent introduction of the intelligent network switching capability in Google Voice to improve call quality.
The feature enables Google Voice to automatically switch the ongoing call between cellular data service and Wi-Fi when it finds that one network is better than the other.
The feature is available to all Google Voice users.
With the recent capability, Google aims to provide an enhanced calling experience to Google Voice users. This, in turn, is expected to boost the adoption rate of Google Voice.
Alphabet Inc. Price
Alphabet Inc. price | Alphabet Inc. Quote
Growing Google Voice Initiatives
Apart from the recent feature, GOOGL unveiled a new feature for Google Voice Standard and Premier customers, wherein Voice users can connect with a Session Initiation Protocol trunk from their telecommunications carrier via certified session board controllers from Oracle, Cisco, Ribbon, and Audiocodes. With this initiative, Google aims to add more customers to Google Voice.
Google also introduced the call recording feature which enables admins to automatically or manually manage call recordings. This capability is currently available for enterprise subscribers.
Additionally, Google added Smart Reply feature to Google Voice for Android users. The feature provides three text suggestions, tapping on them automatically sends messages to the concerned person.
Efforts to Bolster Google Workspace
With this recent initiative, Alphabet added strength to the Google Workspace, consisting of Gmail, Meet, Drive, Calendar, Contacts, Voice and more. Moreover, Google Workspace continues driving GOOGL’s momentum across organizations demanding productivity and collaboration tools.
Apart from Voice efforts, the company updated Google Meet with picture-in-picture and multi-pinning features to help presenters and attendees stay glued to meetings.
Google updated Google Docs by adding emoji reactions to documents for expressing opinions informally. It also added ‘writing suggestions’ capability, featuring a purple underline to help users with the tone, style and word choice.
Google rolled out a redesigned Gmail on the web to provide users with an enhanced email experience.
All these endeavors are expected to continuously bolster the adoption rate of Google Workspace, which will likely to drive Alphabet’s top line in the days ahead.
However, macroeconomic headwinds, inflationary pressure, mounting expenses and growing litigation issues remain major headwinds for the company.
Shares of Alphabet have lost 37.7% in the year-to-date period, lagging the Computer and Technology sector’s decline of 34.8%.
Zacks Rank & Stocks to Consider
Currently, Alphabet carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the broader Zacks Computer & Technology sector are Arista Networks ANET, Agilent technologies A and Asure Software ASUR. While Arista Networks and Asure Software sport a Zacks Rank #1 (Strong Buy), Agilent carries a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Arista Networks has lost 13.9% in the year-to-date period. The long-term earnings growth rate for ANET is currently projected at 17.5%.
Agilent has lost 6.5% in the year-to-date period. A’s long-term earnings growth rate is currently projected at 10%.
Asure Software has gained 12.5% in the year-to-date period. The long-term earnings growth rate for ASUR is currently projected at 23%.
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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 feature enables Google Voice to automatically switch the ongoing call between cellular data service and Wi-Fi when it finds that one network is better than the other. All these endeavors are expected to continuously bolster the adoption rate of Google Workspace, which will likely to drive Alphabet’s top line in the days ahead. As the world continues to benefit from an ever-evolving internet, a handful of innovative tech companies are on the brink of reaping immense rewards - and you can put yourself in a position to cash in. | Alphabet Inc. Price Alphabet Inc. price | Alphabet Inc. Quote Growing Google Voice Initiatives Apart from the recent feature, GOOGL unveiled a new feature for Google Voice Standard and Premier customers, wherein Voice users can connect with a Session Initiation Protocol trunk from their telecommunications carrier via certified session board controllers from Oracle, Cisco, Ribbon, and Audiocodes. Efforts to Bolster Google Workspace With this recent initiative, Alphabet added strength to the Google Workspace, consisting of Gmail, Meet, Drive, Calendar, Contacts, Voice and more. Click to get this free report Agilent Technologies, Inc. (A) : Free Stock Analysis Report Asure Software Inc (ASUR) : Free Stock Analysis Report Alphabet Inc. (GOOGL) : Free Stock Analysis Report Arista Networks, Inc. (ANET) : Free Stock Analysis Report To read this article on Zacks.com click here. | Alphabet’s GOOGL division Google is consistently working toward enhancing its telephonic service, Google Voice. Alphabet Inc. Price Alphabet Inc. price | Alphabet Inc. Quote Growing Google Voice Initiatives Apart from the recent feature, GOOGL unveiled a new feature for Google Voice Standard and Premier customers, wherein Voice users can connect with a Session Initiation Protocol trunk from their telecommunications carrier via certified session board controllers from Oracle, Cisco, Ribbon, and Audiocodes. Click to get this free report Agilent Technologies, Inc. (A) : Free Stock Analysis Report Asure Software Inc (ASUR) : Free Stock Analysis Report Alphabet Inc. (GOOGL) : Free Stock Analysis Report Arista Networks, Inc. (ANET) : Free Stock Analysis Report To read this article on Zacks.com click here. | The feature is available to all Google Voice users. With the recent capability, Google aims to provide an enhanced calling experience to Google Voice users. Some better-ranked stocks in the broader Zacks Computer & Technology sector are Arista Networks ANET, Agilent technologies A and Asure Software ASUR. | 02843599-a6a6-4646-a6b2-7673b674f0ba |
318.0 | 2022-12-12 00:00:00 UTC | Vishay's (VSH) Launch of New Modules Expands Diodes Offerings | A | https://www.nasdaq.com/articles/vishays-vsh-launch-of-new-modules-expands-diodes-offerings | nan | nan | Vishay Intertechnology, Inc. VSH is leaving no stone unturned to expand its discrete offerings to bolster its presence in the booming semiconductor industry.
The unveiling of three new series of 130 A to 300 A three-phase bridge power modules in the ultra-compact MTC package by the company is a testament to the same.
New power modules — 130 A VS-131MT…C, 160 A VS-161MT…C and 300 A VS-301MT…C — feature blocking voltages of 1600 V and 1800 V. They also offer 3600 VRMS isolation voltage and low forward voltages down to 1.54 V.
Further, these modules offer rugged design while their highly conductive MTC package delivers excellent thermal behavior, which makes them ideal for line-frequency input rectification in welding machines, switch mode power supplies, plasma cutting, battery chargers and motor control.
With all these features and benefits, Vishay is likely to gain strong traction in heavy-duty industrial applications.
Also, the latest move adds strength to the company’s diodes product line.
Vishay Intertechnology, Inc. Price and Consensus
Vishay Intertechnology, Inc. price-consensus-chart | Vishay Intertechnology, Inc. Quote
Growth Prospects
The latest move expands Vishay’s diode offerings, which have become an integral part of its discrete semiconductor business.
In third-quarter 2022, diodes generated revenues of $209 million (23% of total revenues), up 12.8% from the year-ago quarter’s level.
The company’s deepening focus on its semiconductor business as well as its strong product line is likely to continue aiding its financial performance in the days ahead.
This in turn is likely to aid it in winning investors’ confidence in the near term.
Vishay has gained 1% on a year-to-date basis compared with the industry’s decline of 20.6%.
Moreover, we believe that expanding diodes offerings would continue to aid Vishay in expanding its presence in the global diodes market, which, per a report from Mordor Intelligence, is expected to witness a CAGR of 2.5% between 2020 and 2027.
Expanding Product Portfolio
The latest launch added strength to its overall product portfolio.
Apart from the latest move, Vishay recently introduced a linear optocoupler - VOA300, which is an automotive-grade device offering an industry-high isolation voltage of 5300 Vrms.
Further, Vishay recently acquired MaxPower Semiconductor, a fabless power semiconductor provider. The acquisition helped Vishay enhance its MOSFET product offerings.
Vishay also launched four FRED Pt Gen 5 600 V Hyperfast rectifiers to strengthen its discrete semiconductor portfolio.
VSH also unveiled three inductors designed to save board space and increase efficiency in IoT devices and portable electronics.
Additionally, Vishay’s launch of 15 Hyperfast and Ultrafast rectifiers remains noteworthy. Also, the introduction of its two short-wavelength ultraviolet-emitting diodes, namely VLMU35CR40-275-120 and VLMU35CR41-275-120, in a ceramic and quartz-based package is a positive.
We believe that these endeavors will continue to shape Vishay’s growth trajectory and sustain momentum in its various end markets.
Zacks Rank & Stocks to Consider
Currently, Vishay carries a Zacks Rank #3 (Hold).
Investors interested in the broader Zacks Computer & Technology sector can consider some better-ranked stocks like Asure Software ASUR, Agilent Technologies A and AMETEK AME. While Asure Software sports a Zacks Rank #1 (Strong Buy), Agilent Technologies and AMETEK carry a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Asure Software has lost 10.9% in the year-to-date period. The long-term earnings growth rate for ASUR is currently projected at 23%.
Agilent Technologies has lost 7.8% in the year-to-date period. The long-term earnings growth rate for A is currently projected at 10%.
AMETEK has lost 5.7% in the year-to-date period. The long-term earnings growth rate for AME is currently projected at 9.7%.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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Agilent Technologies, Inc. (A) : Free Stock Analysis Report
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Vishay Intertechnology, Inc. (VSH) : 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. | Vishay Intertechnology, Inc. VSH is leaving no stone unturned to expand its discrete offerings to bolster its presence in the booming semiconductor industry. Further, these modules offer rugged design while their highly conductive MTC package delivers excellent thermal behavior, which makes them ideal for line-frequency input rectification in welding machines, switch mode power supplies, plasma cutting, battery chargers and motor control. Apart from the latest move, Vishay recently introduced a linear optocoupler - VOA300, which is an automotive-grade device offering an industry-high isolation voltage of 5300 Vrms. | Vishay Intertechnology, Inc. Price and Consensus Vishay Intertechnology, Inc. price-consensus-chart | Vishay Intertechnology, Inc. Quote Growth Prospects The latest move expands Vishay’s diode offerings, which have become an integral part of its discrete semiconductor business. While Asure Software sports a Zacks Rank #1 (Strong Buy), Agilent Technologies and AMETEK carry a Zacks Rank #2 (Buy) at present. Click to get this free report Agilent Technologies, Inc. (A) : Free Stock Analysis Report AMETEK, Inc. (AME) : Free Stock Analysis Report Asure Software Inc (ASUR) : Free Stock Analysis Report Vishay Intertechnology, Inc. (VSH) : Free Stock Analysis Report To read this article on Zacks.com click here. | Vishay Intertechnology, Inc. Price and Consensus Vishay Intertechnology, Inc. price-consensus-chart | Vishay Intertechnology, Inc. Quote Growth Prospects The latest move expands Vishay’s diode offerings, which have become an integral part of its discrete semiconductor business. Zacks Rank & Stocks to Consider Currently, Vishay carries a Zacks Rank #3 (Hold). Click to get this free report Agilent Technologies, Inc. (A) : Free Stock Analysis Report AMETEK, Inc. (AME) : Free Stock Analysis Report Asure Software Inc (ASUR) : Free Stock Analysis Report Vishay Intertechnology, Inc. (VSH) : Free Stock Analysis Report To read this article on Zacks.com click here. | Vishay has gained 1% on a year-to-date basis compared with the industry’s decline of 20.6%. Moreover, we believe that expanding diodes offerings would continue to aid Vishay in expanding its presence in the global diodes market, which, per a report from Mordor Intelligence, is expected to witness a CAGR of 2.5% between 2020 and 2027. Vishay also launched four FRED Pt Gen 5 600 V Hyperfast rectifiers to strengthen its discrete semiconductor portfolio. | 39e3a444-d778-4051-abba-0d38c7a3d1b5 |
335.0 | 2022-11-22 00:00:00 UTC | Agilent Technologies Gains On Q4 Revenue Growth | A | https://www.nasdaq.com/articles/agilent-technologies-gains-on-q4-revenue-growth | nan | nan | (RTTNews) - Agilent Technologies, Inc. (A) shares are gaining on Tuesday morning trade after the company reported higher fourth-quarter revenues compared to the prior year.
The provider of diagnostics and research services quarterly revenue of $1.85 billion, higher than $1.66 billion in the previous year.
Looking ahead to the full year 2023, the company's outlook is in the range of $6.90 to $7.00 billion, representing reported growth of 0.8 2.2 percent growth and core growth of 5 to 6.5 percent.
For the first-quarter revenue, guidance is in the range of $1.68 to $1.70 billion, representing reported growth of 0.4 to 1.6 percent.
Currently, shares are at $155.63, up 7.23 percent from the previous close of $145.14 on a volume of 755,824.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (RTTNews) - Agilent Technologies, Inc. (A) shares are gaining on Tuesday morning trade after the company reported higher fourth-quarter revenues compared to the prior year. For the first-quarter revenue, guidance is in the range of $1.68 to $1.70 billion, representing reported growth of 0.4 to 1.6 percent. Currently, shares are at $155.63, up 7.23 percent from the previous close of $145.14 on a volume of 755,824. | The provider of diagnostics and research services quarterly revenue of $1.85 billion, higher than $1.66 billion in the previous year. Looking ahead to the full year 2023, the company's outlook is in the range of $6.90 to $7.00 billion, representing reported growth of 0.8 2.2 percent growth and core growth of 5 to 6.5 percent. For the first-quarter revenue, guidance is in the range of $1.68 to $1.70 billion, representing reported growth of 0.4 to 1.6 percent. | Looking ahead to the full year 2023, the company's outlook is in the range of $6.90 to $7.00 billion, representing reported growth of 0.8 2.2 percent growth and core growth of 5 to 6.5 percent. For the first-quarter revenue, guidance is in the range of $1.68 to $1.70 billion, representing reported growth of 0.4 to 1.6 percent. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (RTTNews) - Agilent Technologies, Inc. (A) shares are gaining on Tuesday morning trade after the company reported higher fourth-quarter revenues compared to the prior year. The provider of diagnostics and research services quarterly revenue of $1.85 billion, higher than $1.66 billion in the previous year. Looking ahead to the full year 2023, the company's outlook is in the range of $6.90 to $7.00 billion, representing reported growth of 0.8 2.2 percent growth and core growth of 5 to 6.5 percent. | 1152663c-cd2b-4952-ae5f-3c3750e60df1 |
353.0 | 2022-11-09 00:00:00 UTC | Garmin (GRMN) Boosts Wearable Portfolio With Instinct Watch | A | https://www.nasdaq.com/articles/garmin-grmn-boosts-wearable-portfolio-with-instinct-watch | nan | nan | Garmin GRMN expanded the Instinct family of rugged smartwatches with the recent addition of the Instinct Crossover smartwatch.
Instinct Crossover features Super-LumiNova-coated analog hands and a chapter ring to show ruggedness for any activity.
The watch is powered by RevoDrive analog hand technology to show accurate timing even in the harshest activities and environments, making it suitable for customers with different outdoor preferences.
Instinct Crossover is thermal and shock resistant, with the ability to offer nearly a month of battery life in smartwatch mode and more than 110 hours in GPS mode.
Users can connect the smartwatch to their smartphone device to get notifications on their wrists. They can also avail health and wellness features on the smartwatch to keep track of their well-being.
The above-mentioned features are expected to boost the adoption rate of the Instinct Crossover smartwatch in the days ahead.
With the introduction of the Instinct Crossover smartwatch, Garmin expanded its portfolio of wearable offerings.
Garmin Ltd. Price and Consensus
Garmin Ltd. price-consensus-chart | Garmin Ltd. Quote
Growing Smartwatch Offerings
In addition to the latest smartwatch, last month, Garmin unveiled a collection of second-generation MARQ watches to serve users with different outdoor preferences.
In September, Garmin released the Black Panther watch, a special edition vívofit jr. 3, to provide children with an enhanced fitness tracking experience.
In August, Garmin unveiled the Enduro 2 multisport GPS smartwatch featuring an LED flashlight, music, enhanced positioning precision and a battery life of up to 150 hours in GPS mode.
In June, Garmin introduced the Forerunner 955 Solar smartwatch, featuring solar charging, longer battery life, multi-satellite system tracking, and health and wellness tracking.
Garmin’s expanding smartwatch offerings are expected to continue helping it solidify its presence in the booming smartwatch as well as the wearable market.
According to a Facts & Factors report, the global smartwatch market is likely to reach $97.5 billion by 2028, witnessing a CAGR of 21.5% between 2022 and 2028.
Per a Data Bridge Market Research report, the global wearable devices market is anticipated to hit $460.3 billion by 2029, seeing a CAGR of 18.8% during the 2022-2029 period.
We believe that Garmin’s prospects in these booming markets are likely to aid it in gaining investors’ confidence in the near term.
Shares of GRMN have been down 36.3% in the year-to-date period, outperforming the Computer and Technology sector’s decline of 37.1%.
Solidifying Outdoor Segment
The introduction of the Instinct Crossover smartwatch bodes well for Garmin’s consistent efforts in strengthening the outdoor segment.
In addition to the latest move, GRMN had launched a communication-focused device named inReach Messenger in September for two-way texting, location sharing and SOS sending.
Garmin also released the Delta SE handheld and collar to enable users with simplified dog-training capabilities.
The consistent launch of outdoor offerings is expected to help Garmin gain momentum among its outdoor enthusiasts. This, in turn, will boost the outdoor segment’s performance in the days ahead.
The underlined segment generated $340.4 million, accounting for 30% of the total third-quarter 2022 revenues, up 5% from the year-ago quarter’s figure.
Zacks Rank & Stocks to Consider
Currently, Garmin carries a Zacks Rank #3 (Hold). Investors interested in the broader Zacks Computer & Technology sector can consider some better-ranked stocks like Agilent Technologies A, Asure Software ASUR and America Movil AMX, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Agilent Technologies has lost 13.1% in the year-to-date period. The long-term earnings growth rate for A is currently projected at 10%.
Asure Software has lost 14.4% in the year-to-date period. The long-term earnings growth rate for ASUR is currently projected at 14%.
America Movil has lost 5% in the year-to-date period. The long-term earnings growth rate for AMX is currently projected at 25.7%.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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Garmin Ltd. (GRMN): Free Stock Analysis Report
America Movil, S.A.B. de C.V. (AMX): Free Stock Analysis Report
Agilent Technologies, Inc. (A): Free Stock Analysis Report
Asure Software Inc (ASUR): 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 watch is powered by RevoDrive analog hand technology to show accurate timing even in the harshest activities and environments, making it suitable for customers with different outdoor preferences. In September, Garmin released the Black Panther watch, a special edition vívofit jr. 3, to provide children with an enhanced fitness tracking experience. In addition to the latest move, GRMN had launched a communication-focused device named inReach Messenger in September for two-way texting, location sharing and SOS sending. | Per a Data Bridge Market Research report, the global wearable devices market is anticipated to hit $460.3 billion by 2029, seeing a CAGR of 18.8% during the 2022-2029 period. Solidifying Outdoor Segment The introduction of the Instinct Crossover smartwatch bodes well for Garmin’s consistent efforts in strengthening the outdoor segment. Investors interested in the broader Zacks Computer & Technology sector can consider some better-ranked stocks like Agilent Technologies A, Asure Software ASUR and America Movil AMX, each carrying a Zacks Rank #2 (Buy) at present. | Garmin GRMN expanded the Instinct family of rugged smartwatches with the recent addition of the Instinct Crossover smartwatch. Garmin Ltd. Price and Consensus Garmin Ltd. price-consensus-chart | Garmin Ltd. Quote Growing Smartwatch Offerings In addition to the latest smartwatch, last month, Garmin unveiled a collection of second-generation MARQ watches to serve users with different outdoor preferences. Investors interested in the broader Zacks Computer & Technology sector can consider some better-ranked stocks like Agilent Technologies A, Asure Software ASUR and America Movil AMX, each carrying a Zacks Rank #2 (Buy) at present. | The above-mentioned features are expected to boost the adoption rate of the Instinct Crossover smartwatch in the days ahead. Garmin’s expanding smartwatch offerings are expected to continue helping it solidify its presence in the booming smartwatch as well as the wearable market. Investors interested in the broader Zacks Computer & Technology sector can consider some better-ranked stocks like Agilent Technologies A, Asure Software ASUR and America Movil AMX, each carrying a Zacks Rank #2 (Buy) at present. | b4c3cdde-f2f0-485c-86a3-a3bd9c929685 |
354.0 | 2022-11-09 00:00:00 UTC | Billionaire Snapshots: The Oracle of Omaha and What He's Buying Even in the Face of a Recession | A | https://www.nasdaq.com/articles/billionaire-snapshots%3A-the-oracle-of-omaha-and-what-hes-buying-even-in-the-face-of-a | nan | nan | C
PI data, Fed rate hikes, and odds of a recession — these stories are dominating the financial news headlines. They keep you informed, but hearing that the consumer price index (CPI) rose 0.4% in September doesn’t do you a lot of good on its own for making investing decisions.
What is worth your time is knowing what stocks the most successful investors in the world are buying and selling and seeing what our tools and systems have to say about them. Because when a billionaire investor like Warren Buffett hears the word “recession,” he doesn’t stick his head in the sand and wait for things to get better — he goes on a shopping spree.
From 2008 to 2011, Buffett invested in companies like Mars, Goldman Sachs Group Inc. (GS) and Bank of America Corp. (BAC) — giant, blue-chip companies that he knew had strong business fundamentals that could weather the economic storm and, eventually, emerge stronger than before.
With patience on his side, Buffett was rewarded. His payoff on the blue-chip deals he made from 2008 to 2011 was $10 billion by October 2013. Today, in Billionaire Snapshots, we’re looking at one of the latest moves Buffett has made in the face of an economic downturn.
We’ll also check out what our tools are saying about the stock. But first, we also want to share a bit of Buffett’s background so that all our TradeSmith Daily readers have a fundamental understanding of what shaped him and his investing strategy. That way, you can apply what Buffett has learned to your own investing process.
Warren Buffett
CEO of Berkshire Hathaway Inc. (BRK.A)
Known for value investing
Net worth of $95.5 billion
Famous quote: “Rule No. 1: Never lose money. Rule No. 2: Never forget rule No. 1.”
Buffett caught the investing bug early. He was only 11 when he made his first investment, buying three shares of Cities Service preferred stock at $38 per share. Even then, Buffett’s “buy and hold” philosophy of investing was taking shape: He hung on as the stock suffered a harrowing drop to $27, then sold his shares once they reached $40, booking a modest profit.
As Buffett put it in a 2019 letter to Berkshire Hathaway shareholders, “I had become a capitalist, and it felt good.”
Buffett continued to follow that good feeling throughout his youth, earning money by delivering newspapers, washing cars, and partnering with a friend to run a pinball machine business that he ended up selling for more than $1,000. He supplemented his practical experience by reading books about investing, and at 19, Buffett stumbled upon a book that would define his approach to investing: “The Intelligent Investor,” by Benjamin Graham.
In the book, Graham outlined the tenets of value investing, the practice of seeking out and buying undervalued stocks — a strategy that would become the foundation of Buffett’s success. After receiving degrees from the University of Nebraska and the Columbia Business School (where Graham was his professor), working as an analyst for Graham’s investment firm, and running an investment firm of his own, Buffett turned his attention to Berkshire Hathaway, a textile manufacturer.
The struggling company’s cheap share price appealed to Buffett, and by 1969 he had scooped enough shares to have a controlling stake and transform it into the investing conglomerate it is today. Buffett knows who he is as an investor, always focusing on a value approach, and it’s an understatement to say it has served him well. He reached billionaire status in 1986, at the age of 56. Today, nearly 40 years later, Buffett’s net worth is $98.2 billion.
Buffett’s Philosophy in Action
Part of Buffett’s investing philosophy is to be patient and wait for the right opportunity. In his words, “the trick in investing is just to sit there and watch pitch after pitch go by and wait for the one right in your sweet spot. And if people are yelling, ‘Swing, you bum!,’ ignore them.” He’s been questioned for holding on to too much cash in the past:
But again, Buffett is fine waiting for those pitches to pass him by as he waits for one right in the sweet spot. That’s when he deploys his cash and, as his net worth shows us, gets the last laugh. And one stock Buffett is swinging away at is Occidental Petroleum Corp. (OXY) It’s one of the largest upstream (oil discovery, extraction, and production) oil companies, and it also operates midstream (processing, storing, transporting, and marketing) operations and chemical businesses.
What Buffett may like about the oil and natural gas industry is that it is still expected to have increased demand even as renewable energy sources become more popular, making it a long-term investment that fits into his ideal time frame for owning a company: forever.
Looking into the company’s financial operations reveals even more reasons for the Oracle of Omaha to like this investment. Buffett is famous for not paying Berkshire shareholders a dividend, but he loves shareholder-friendly moves, like dividend payments and stock buybacks, for his own investments. After previously cutting its dividend payout to just one penny, OXY boosted its dividend to $0.13 per share in March, which now provides shareholders with a yield of 0.77%. With more than 194 million shares, that adds up to $25 million in dividend payouts over the course of the year. OXY also plans to repurchase $3 billion worth of shares by the end of this year.
Most recently, Berkshire bought roughly $350 million worth of OXY shares between Sept. 26 and Sept. 28, with prices ranging from $57.91 to $61.38 per share. That brought Berkshire’s total stake in OXY to 20.9%, and Berkshire has approval to purchase up to 50% of the company. Putting OXY under the TradeSmith microscope, its investment risk is considered sky high, as it has a Volatility Quotient (VQ) of 55.56%, which is something risk-averse members should keep in mind.
VQ Level Breakdown:
Up to 15% = Low Risk
15%-30% = Medium Risk
30%-50% = High Risk
50% and above = Sky-High Risk
But the stock is in our Health Indicator Green Zone, meaning it’s currently considered a “buy.” OXY also fits into TradeSmith Senior Analyst Mike Burnick’s belief that we’re entering a “commodity supercycle” and that will benefit energy, particularly oil and natural gas, as it’s been a sector underinvested in for years.
You can access Part 1 of Mike’s free report here.
And you can access Part 2 of Mike’s free report here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Because when a billionaire investor like Warren Buffett hears the word “recession,” he doesn’t stick his head in the sand and wait for things to get better — he goes on a shopping spree. Even then, Buffett’s “buy and hold” philosophy of investing was taking shape: He hung on as the stock suffered a harrowing drop to $27, then sold his shares once they reached $40, booking a modest profit. What Buffett may like about the oil and natural gas industry is that it is still expected to have increased demand even as renewable energy sources become more popular, making it a long-term investment that fits into his ideal time frame for owning a company: forever. | Because when a billionaire investor like Warren Buffett hears the word “recession,” he doesn’t stick his head in the sand and wait for things to get better — he goes on a shopping spree. Warren Buffett CEO of Berkshire Hathaway Inc. (BRK.A) Known for value investing Net worth of $95.5 billion Famous quote: “Rule No. After receiving degrees from the University of Nebraska and the Columbia Business School (where Graham was his professor), working as an analyst for Graham’s investment firm, and running an investment firm of his own, Buffett turned his attention to Berkshire Hathaway, a textile manufacturer. | Warren Buffett CEO of Berkshire Hathaway Inc. (BRK.A) Known for value investing Net worth of $95.5 billion Famous quote: “Rule No. After receiving degrees from the University of Nebraska and the Columbia Business School (where Graham was his professor), working as an analyst for Graham’s investment firm, and running an investment firm of his own, Buffett turned his attention to Berkshire Hathaway, a textile manufacturer. Buffett’s Philosophy in Action Part of Buffett’s investing philosophy is to be patient and wait for the right opportunity. | Warren Buffett CEO of Berkshire Hathaway Inc. (BRK.A) Known for value investing Net worth of $95.5 billion Famous quote: “Rule No. Even then, Buffett’s “buy and hold” philosophy of investing was taking shape: He hung on as the stock suffered a harrowing drop to $27, then sold his shares once they reached $40, booking a modest profit. Today, nearly 40 years later, Buffett’s net worth is $98.2 billion. | ac69fba9-7f64-42c6-83c2-aea14c9ea415 |
363.0 | 2022-10-18 00:00:00 UTC | The Zacks Analyst Blog Highlights Perion Network, Keysight Technologies, Arista Networks and Agilent Technologies | A | https://www.nasdaq.com/articles/the-zacks-analyst-blog-highlights-perion-network-keysight-technologies-arista-networks-and | nan | nan | For Immediate Release
Chicago, IL – October 18, 2022 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Perion Network Ltd. PERI, Keysight Technologies, Inc. KEYS, Arista Networks, Inc. ANET and Agilent Technologies, Inc. A.
Here are highlights from Monday’s Analyst Blog:
4 Under-the-Radar Tech Stocks Looking Good Right Now
Nobody would advise you to get into tech stocks with a recession around the corner. After all, tech stock valuations usually include a growth premium, which makes them risky in a recession. It’s far better to choose your values and settle down for the long term.
But what if I told you that that story has already played itself out? The tech sector is currently valued at 18.13X P/E, which is a discount to its five-year median value. Therefore, tech valuations are no longer that rich, and you can pick your value stocks among these growth names.
On the other hand, during a protracted downturn, or a recession even, technology is an area of investment for most companies because that’s what makes them more efficient and able to generate more from limited resources. This positions technology stocks to benefit from a recovering market.
Today, most sectors are struggling with labor costs and delaying layoffs because it has suddenly become a very competitive market. It wouldn’t do to have to hire back at higher rates. Additionally, although supply chain issues are beginning to get ironed out, high energy prices are seeing to it that input costs remain elevated.
So, companies are under a lot of pressure to run efficiently and fiscal discipline is the need of the hour. The ongoing earnings season will give us a better idea of how exactly they’re faring, but we are still on the wrong side of a recession, however fleeting it might turn out to be. And that’s not such a great thing.
Tech valuations being low, however, provide us a great opportunity to load up. And even if they head further south in the next few months, they are sure to head back up. So anybody with a 2-3 year investment horizon should be able to make good profits. Then again, you may want to hold back for prices to fall further. And that might work out fine too because considering the Fed’s current disposition, more volatility in the markets is definitely in the cards.
But in case you’d like to put something into play today, here are a few stocks that may be worth considering:
Perion Network Ltd.
The company provides digital advertising solutions to brands, agencies, and publishers, mainly in North America and Europe.
In the last five years, its earnings have grown 12.0% and analysts estimate its long-term growth at 25.0%. In 2022 and 2023 alone, Perion is expected to grow its revenues a respective 32.0% and 16.1% and earnings a respective 96.1% and 4.0%.
Its balance sheet is also in good shape. Since 2017, it has steadily lowered its debt to a nil balance and its per share net cash has also risen steadily since then. Its current cash and cash equivalents can cover its current liabilities (cash ratio) 1.7X over. Therefore, it is strong from a liquidity standpoint to deal with short term uncertainties.
At 11.99X P/E, the shares trade at a discount to their median value of 13.66X in the last five years.
It also has a Zacks #2 (Buy) rank.
Keysight Technologies, Inc.
The company provides electronic design and test solutions to commercial communications, networking, aerospace, defense and government, automotive, energy, semiconductor, electronic, and education industries in the Americas, Europe and the Asia Pacific.
Keysight has grown its earnings a whopping 25.9% in the last five years. In 2022, its revenue and earnings are expected to grow a respective 8.8% and 20.1%. Next year, they’ll grow 5.5% and 7.9%, respectively. Analysts peg their long-term earnings growth estimate at 11.0%, which factors in significant slowdown (possible a recession next year). So the LTG could actually turn out to be much higher, as is usually the case.
The balance sheet is also in good shape. The debt cap ratio of 31.4% is not too bad at all and has been declining steadily from 2017. The net cash per share increased steadily till mid 2021 but shows a slightly declining trend since then, possible as it built some inventory. Its cash ratio, at 1.77X shows there is nothing to be concerned about however.
The P/E of 20.48X may not be viewed as cheap by some, but rest assured that it isn’t expensive because it is at a discount to the median value of 21.53X in the last five years.
The shares carry a Zacks #1 (Strong Buy) Rank.
Arista Networks, Inc.
The company develops, markets and sells cloud networking solutions in the Americas, Europe, the Middle East, Africa and the Asia-Pacific.
In the last five years, Arista’s earnings have grown 17.2% and this strength is expected to continue in the future as well. For 2022, analysts currently expect revenue to grow 38.6% and earnings 40.8%. The following year, they expect revenue growth of 13.9% and earnings growth of 13.1%. In the long term, earnings growth is expected to settle at 15.7%.
Like Perion, Arista has no debt on its balance sheet. Its net cash per share has been growing pretty steadily since 2016 although it dipped in the last quarter even as net PP&E and inventory continued to increase. The cash ratio is 3.29X.
Its P/E of 25.55X is well below the five-year median value of 33.51X, signaling that this is as good a time as any to get into this stock.
The shares carry a Zacks Rank #2.
Agilent Technologies, Inc.
Agilent provides application focused solutions for measurement and analysis of liquids and gases in the life sciences, diagnostics and applied chemical markets worldwide.
In the last five years, its earnings have grown 15.4%. Analysts currently expect its revenue and earnings to grow 7.1% and 16.8%, respectively in 2022. Next year, they’re expected to grow a respective 6.5% and 7.9%. The long-term growth expectation is 10.0%.
As far as the balance sheet is concerned, the debt cap of 34.9% is very manageable and cash ratio of 1.05 is adequate.
Like the others, Agilent’s shares are trading at a discount to its five-year median, meaning that they are cheap.
And finally, they carry a Zacks #2 (Buy) rank.
Conclusion
It’s time we at least started studying the tech sector for possible picks over the next few months. As seen above, many of them are already undervalued, possibly pricing in the effect of a recession.
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Agilent Technologies, Inc. (A): Free Stock Analysis Report
Perion Network Ltd (PERI): Free Stock Analysis Report
Arista Networks, Inc. (ANET): Free Stock Analysis Report
Keysight Technologies Inc. (KEYS): 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 net cash per share increased steadily till mid 2021 but shows a slightly declining trend since then, possible as it built some inventory. The company develops, markets and sells cloud networking solutions in the Americas, Europe, the Middle East, Africa and the Asia-Pacific. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. | Stocks recently featured in the blog include: Perion Network Ltd. PERI, Keysight Technologies, Inc. KEYS, Arista Networks, Inc. ANET and Agilent Technologies, Inc. A. Arista Networks, Inc. (ANET): Free Stock Analysis Report Keysight Technologies Inc. (KEYS): Free Stock Analysis Report | Stocks recently featured in the blog include: Perion Network Ltd. PERI, Keysight Technologies, Inc. KEYS, Arista Networks, Inc. ANET and Agilent Technologies, Inc. A. Here are highlights from Monday’s Analyst Blog: 4 Under-the-Radar Tech Stocks Looking Good Right Now Nobody would advise you to get into tech stocks with a recession around the corner. See Stocks Free >> Media Contact Zacks Investment Research 800-767-3771 ext. | The tech sector is currently valued at 18.13X P/E, which is a discount to its five-year median value. But in case you’d like to put something into play today, here are a few stocks that may be worth considering: Perion Network Ltd. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. | 63e0ff66-9be9-424d-a422-28a759a5556a |
364.0 | 2022-10-17 00:00:00 UTC | 4 Under-the-Radar Tech Stocks Looking Good Right Now | A | https://www.nasdaq.com/articles/4-under-the-radar-tech-stocks-looking-good-right-now | nan | nan | Nobody would advise you to get into tech stocks with a recession around the corner. After all, tech stock valuations usually include a growth premium, which makes them risky in a recession. It’s far better to choose your value and settle down for the long term.
But what if I told you that that story has already played itself out? The tech sector is currently valued at 18.13X P/E, which is a discount to its five-year median value. Therefore, tech valuations are no longer that rich, and you can pick your value stocks among these growth names.
On the other hand, during a protracted downturn, or a recession even, technology is an area of investment for most companies because that’s what makes them more efficient and able to generate more from limited resources. This positions technology stocks to benefit from a recovering market.
Today, most sectors are struggling with labor costs and delaying layoffs because it has suddenly become a very competitive market. It wouldn’t do to have to hire back at higher rates. Additionally, although supply chain issues are beginning to get ironed out, high energy prices are seeing to it that input costs remain elevated.
So, companies are under a lot of pressure to run efficiently and fiscal discipline is the need of the hour. The ongoing earnings season will give us a better idea of how exactly they’re faring, but we are still on the wrong side of a recession, however fleeting it might turn out to be. And that’s not such a great thing.
Tech valuations being low, however, provide us a great opportunity to load up. And even if they head further south in the next few months, they are sure to head back up. So anybody with a 2-3 year investment horizon should be able to make good profits. Then again, you may want to hold back for prices to fall further. And that might work out fine too because considering the Fed’s current disposition, more volatility in the markets is definitely in the cards.
But in case you’d like to put something into play today, here are a few stocks that may be worth considering:
Perion Network Ltd. PERI
The company provides digital advertising solutions to brands, agencies, and publishers, mainly in North America and Europe.
In the last five years, its earnings have grown 12.0% and analysts estimate its long-term growth at 25.0%. In 2022 and 2023 alone, Perion is expected to grow its revenues a respective 32.0% and 16.1% and earnings a respective 96.1% and 4.0%.
Its balance sheet is also in good shape. Since 2017, it has steadily lowered its debt to a nil balance and its per share net cash has also risen steadily since then. Its current cash and cash equivalents can cover its current liabilities (cash ratio) 1.7X over. Therefore, it is strong from a liquidity standpoint to deal with short term uncertainties.
At 11.99X P/E, the shares trade at a discount to their median value of 13.66X in the last five years.
It also has a Zacks #2 (Buy) rank.
Keysight Technologies, Inc. KEYS
The company provides electronic design and test solutions to commercial communications, networking, aerospace, defense and government, automotive, energy, semiconductor, electronic, and education industries in the Americas, Europe and the Asia Pacific.
Keysight has grown its earnings a whopping 25.9% in the last five years. In 2022, its revenue and earnings are expected to grow a respective 8.8% and 20.1%. Next year, they’ll grow 5.5% and 7.9%, respectively. Analysts peg their long-term earnings growth estimate at 11.0%, which factors in significant slowdown (possible a recession next year). So the LTG could actually turn out to be much higher, as is usually the case.
The balance sheet is also in good shape. The debt cap ratio of 31.4% is not too bad at all and has been declining steadily from 2017. The net cash per share increased steadily till mid 2021 but shows a slightly declining trend since then, possible as it built some inventory. Its cash ratio, at 1.77X shows there is nothing to be concerned about however.
The P/E of 20.48X may not be viewed as cheap by some, but rest assured that it isn’t expensive because it is at a discount to the median value of 21.53X in the last five years.
The shares carry a Zacks #1 (Strong Buy) Rank.
Arista Networks, Inc. ANET
The company develops, markets and sells cloud networking solutions in the Americas, Europe, the Middle East, Africa and the Asia-Pacific.
In the last five years, Arista’s earnings have grown 17.2% and this strength is expected to continue in the future as well. For 2022, analysts currently expect revenue to grow 38.6% and earnings 40.8%. The following year, they expect revenue growth of 13.9% and earnings growth of 13.1%. In the long term, earnings growth is expected to settle at 15.7%.
Like Perion, Arista has no debt on its balance sheet. Its net cash per share has been growing pretty steadily since 2016 although it dipped in the last quarter even as net PP&E and inventory continued to increase. The cash ratio is 3.29X.
Its P/E of 25.55X is well below the five-year median value of 33.51X, signaling that this is as good a time as any to get into this stock.
The shares carry a Zacks Rank #2.
Agilent Technologies, Inc. A
Agilent provides application focused solutions for measurement and analysis of liquids and gases in the life sciences, diagnostics and applied chemical markets worldwide.
In the last five years, its earnings have grown 15.4%. Analysts currently expect its revenue and earnings to grow 7.1% and 16.8%, respectively in 2022. Next year, they’re expected to grow a respective 6.5% and 7.9%. The long-term growth expectation is 10.0%.
As far as the balance sheet is concerned, the debt cap of 34.9% is very manageable and cash ratio of 1.05 is adequate.
Like the others, Agilent’s shares are trading at a discount to its five-year median, meaning that they are cheap.
And finally, they carry a Zacks #2 (Buy) rank.
Conclusion
It’s time we at least started studying the tech sector for possible picks over the next few months. As seen above, many of them are already undervalued, possibly pricing in the effect of a recession.
One-Month Price Performance
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Agilent Technologies, Inc. (A): Free Stock Analysis Report
Perion Network Ltd (PERI): Free Stock Analysis Report
Arista Networks, Inc. (ANET): Free Stock Analysis Report
Keysight Technologies Inc. (KEYS): Free Stock Analysis Report
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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. | On the other hand, during a protracted downturn, or a recession even, technology is an area of investment for most companies because that’s what makes them more efficient and able to generate more from limited resources. But in case you’d like to put something into play today, here are a few stocks that may be worth considering: Perion Network Ltd. PERI The company provides digital advertising solutions to brands, agencies, and publishers, mainly in North America and Europe. The net cash per share increased steadily till mid 2021 but shows a slightly declining trend since then, possible as it built some inventory. | Perion Network Ltd (PERI): Free Stock Analysis Report Arista Networks, Inc. (ANET): Free Stock Analysis Report Keysight Technologies Inc. (KEYS): Free Stock Analysis Report | But in case you’d like to put something into play today, here are a few stocks that may be worth considering: Perion Network Ltd. PERI The company provides digital advertising solutions to brands, agencies, and publishers, mainly in North America and Europe. The following year, they expect revenue growth of 13.9% and earnings growth of 13.1%. Agilent Technologies, Inc. (A): Free Stock Analysis Report | But in case you’d like to put something into play today, here are a few stocks that may be worth considering: Perion Network Ltd. PERI The company provides digital advertising solutions to brands, agencies, and publishers, mainly in North America and Europe. In the long term, earnings growth is expected to settle at 15.7%. Want the latest recommendations from Zacks Investment Research? | 0b4fa1f6-46a0-4ddd-9d43-acd1bcc7b0c6 |
365.0 | 2022-10-14 00:00:00 UTC | Alphabet's (GOOGL) 5 Gig & 8 Gig Fiber Plans to Win Customers | A | https://www.nasdaq.com/articles/alphabets-googl-5-gig-8-gig-fiber-plans-to-win-customers | nan | nan | Alphabet’s GOOGL division Google is consistently working toward strengthening its high-speed Internet service Google Fiber.
Google is gearing up for expanding Google Fiber offerings with 5 Gig and 8 Gig services to be introduced in early 2023.
Both services will provide symmetrical upload and download speeds up to 5 Gig or 8 Gig each. The services will be available with a Wi-Fi 6 router, up to two mesh extenders, and professional installation.
The 5 Gig plan will help users simultaneously upload and download files, regardless of the file size. The 8 Gig plan will offer low latency so that user can work online in near real time.
Google Fiber subscribers living in Utah, Kansas City, and West Des Moines will be able to access the services from next month.
The new high-speed service plans are expected to boost the adoption rate of Google Fiber in the days ahead.
Alphabet Inc. Price and Consensus
Alphabet Inc. price-consensus-chart | Alphabet Inc. Quote
Growing Google Fiber Efforts
Apart from the latest move, Google recently opened Google Fiber Kiosks at local malls in three US cities to cater to customer requirements faster.
Google Fiber is shifting focus from Fiber TV to a free Chromecast with Google TV and paid streaming services, including YouTube TV, FuboTV, Philo or Sling to expand its presence in the streaming space.
With these initiatives, Google aims to serve customers better and continue gaining momentum among them.
This in turn will aid the financial performance of Google’s parent Alphabet, helping it win investors’ confidence in the near term and the long haul.
Shares of GOOGL have been down 31.6% in the year-to-date period, outperforming the Computer and Technology sector’s decline of 37.9%.
Competitive Scenario
Google, with its recent move, upped its ante against other companies, including Frontier Communications FYBR and Verizon Communications VZ, which are also making diligent efforts to gain traction among customers.
Frontier which has lost 23.2% on a year-to-date basis, offers services to residential and business customers in fiber-optic and copper networks, including video, high-speed Internet, advanced voice and Frontier Secure digital protection solutions. FYBR’s recent announcement of offering network-wide 2 Gig fiber Internet service to customers remains noteworthy.
Verizon Communication’s subsidiary Verizon Fios is a fast Internet solution provider based on 100% fiber-optic network for fast and reliable connectivity. It offers up to 25 times faster uploading speed than cable due to low latency and the reliability of fiber. Further, VZ recently rolled out a tri-band router with Wi-Fi 6, providing the highest bandwidth so that the whole family can be connected at the same time. Notably, Verizon has declined 30% in the year-to-date period.
Nevertheless, Google’s growing Fiber efforts and innovative technologies are likely to continue strengthening its competitive position in the internet market.
Zacks Rank & Stock to Consider
Currently, Alphabet carries a Zacks Rank #3 (Hold).Investors interested in the broader technology sector can consider Agilent Technologies A, carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Agilent Technologies has lost 19.9% in the year-to-date period. The long-term earnings growth rate for A is currently projected at 10%.
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Verizon Communications Inc. (VZ): 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. | Google Fiber subscribers living in Utah, Kansas City, and West Des Moines will be able to access the services from next month. This in turn will aid the financial performance of Google’s parent Alphabet, helping it win investors’ confidence in the near term and the long haul. Nevertheless, Google’s growing Fiber efforts and innovative technologies are likely to continue strengthening its competitive position in the internet market. | Alphabet Inc. Price and Consensus Alphabet Inc. price-consensus-chart | Alphabet Inc. Quote Growing Google Fiber Efforts Apart from the latest move, Google recently opened Google Fiber Kiosks at local malls in three US cities to cater to customer requirements faster. Competitive Scenario Google, with its recent move, upped its ante against other companies, including Frontier Communications FYBR and Verizon Communications VZ, which are also making diligent efforts to gain traction among customers. Frontier Communications Parent, Inc. (FYBR): Free Stock Analysis Report | Alphabet’s GOOGL division Google is consistently working toward strengthening its high-speed Internet service Google Fiber. Alphabet Inc. Price and Consensus Alphabet Inc. price-consensus-chart | Alphabet Inc. Quote Growing Google Fiber Efforts Apart from the latest move, Google recently opened Google Fiber Kiosks at local malls in three US cities to cater to customer requirements faster. Zacks Rank & Stock to Consider Currently, Alphabet carries a Zacks Rank #3 (Hold).Investors interested in the broader technology sector can consider Agilent Technologies A, carrying a Zacks Rank #2 (Buy) at present. | Alphabet’s GOOGL division Google is consistently working toward strengthening its high-speed Internet service Google Fiber. Competitive Scenario Google, with its recent move, upped its ante against other companies, including Frontier Communications FYBR and Verizon Communications VZ, which are also making diligent efforts to gain traction among customers. Want the latest recommendations from Zacks Investment Research? | 1e18d158-9edf-4f15-b274-aa5cc3d79ce8 |
378.0 | 2022-09-11 00:00:00 UTC | Have Agilent Technologies, Inc. (NYSE:A) Insiders Been Selling Their Stock? | A | https://www.nasdaq.com/articles/have-agilent-technologies-inc.-nyse%3Aa-insiders-been-selling-their-stock | nan | nan | We'd be surprised if Agilent Technologies, Inc. (NYSE:A) shareholders haven't noticed that the Senior VP & President of Agilent Cross Lab Group, Padraig McDonnell, recently sold US$337k worth of stock at US$134 per share. That sale was 14% of their holding, so it does make us raise an eyebrow.
Agilent Technologies Insider Transactions Over The Last Year
Over the last year, we can see that the biggest insider sale was by the CEO, President & Director, Michael McMullen, for US$18m worth of shares, at about US$149 per share. So we know that an insider sold shares at around the present share price of US$138. While insider selling is a negative, to us, it is more negative if the shares are sold at a lower price. We note that this sale took place at around the current price, so it isn't a major concern, though it's hardly a good sign.
In the last year Agilent Technologies insiders didn't buy any company stock. You can see a visual depiction of insider transactions (by companies and individuals) over the last 12 months, below. If you click on the chart, you can see all the individual transactions, including the share price, individual, and the date!
NYSE:A Insider Trading Volume September 11th 2022
I will like Agilent Technologies better if I see some big insider buys. While we wait, check out this free list of growing companies with considerable, recent, insider buying.
Does Agilent Technologies Boast High Insider Ownership?
Looking at the total insider shareholdings in a company can help to inform your view of whether they are well aligned with common shareholders. We usually like to see fairly high levels of insider ownership. Agilent Technologies insiders own about US$114m worth of shares (which is 0.3% of the company). Most shareholders would be happy to see this sort of insider ownership, since it suggests that management incentives are well aligned with other shareholders.
So What Do The Agilent Technologies Insider Transactions Indicate?
An insider sold Agilent Technologies shares recently, but they didn't buy any. And even if we look at the last year, we didn't see any purchases. But it is good to see that Agilent Technologies is growing earnings. The company boasts high insider ownership, but we're a little hesitant, given the history of share sales. In addition to knowing about insider transactions going on, it's beneficial to identify the risks facing Agilent Technologies. You'd be interested to know, that we found 1 warning sign for Agilent Technologies and we suggest you have a look.
But note: Agilent Technologies may not be the best stock to buy. So take a peek at this free list of interesting companies with high ROE and low debt.
For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions, but not derivative transactions.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | While we wait, check out this free list of growing companies with considerable, recent, insider buying. In addition to knowing about insider transactions going on, it's beneficial to identify the risks facing Agilent Technologies. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. | In the last year Agilent Technologies insiders didn't buy any company stock. Does Agilent Technologies Boast High Insider Ownership? An insider sold Agilent Technologies shares recently, but they didn't buy any. | Agilent Technologies Insider Transactions Over The Last Year Over the last year, we can see that the biggest insider sale was by the CEO, President & Director, Michael McMullen, for US$18m worth of shares, at about US$149 per share. In the last year Agilent Technologies insiders didn't buy any company stock. An insider sold Agilent Technologies shares recently, but they didn't buy any. | Agilent Technologies insiders own about US$114m worth of shares (which is 0.3% of the company). So What Do The Agilent Technologies Insider Transactions Indicate? But note: Agilent Technologies may not be the best stock to buy. | 5a8bea9b-7ab6-401a-805c-ad537e750e5d |
391.0 | 2023-11-17 00:00:00 UTC | Industry group urges EU to impose broader sanctions on Russian aluminium | AA | https://www.nasdaq.com/articles/industry-group-urges-eu-to-impose-broader-sanctions-on-russian-aluminium | nan | nan | Updates with data on Russian aluminium imports in paragraphs 5-6
LONDON/BRUSSELS, Nov 17 (Reuters) - The European Union should impose broader import bans on Russian aluminium, industry group European Aluminium said on Friday, arguing that the current proposal to ban certain products would have only a limited impact.
EU members are currently debating a European Commission proposal for a 12th package of sanctions set to include import bans for diamonds and liquefied propane and measures designed to tighten implementation of a price cap on Russian oil.
It also includes bans on aluminium wires, tubes and pipes, but these only make up 12% of EU aluminium imports from Russia, European Aluminium said in a statement.
"We strongly encourage the European Union to accelerate its efforts and broaden their scope to cover all major product categories," said Director General Paul Voss.
EU industry has already started to phase out Russian aluminium, with January-August imports down by a third from the same period in 2022, based on European Aluminium data. For ingots, Russia represented 9% of all EU imports, compared with 25% in previous years.
In the first nine months of this year, EU imported almost 500,000 metric tons of Russian aluminium and aluminium products worth 1.26 billion euros ($1.37 billion), according to Eurostat data. For 2022, imports were worth 2.84 billion euros.
In July, the group sent a letter to members saying it had discussed the possibility of "actively calling for EU sanctions on Russian aluminium", but not on Russian major producer Rusal RUAL.MM.
While substituting other supply for Russian ingots would be feasible in Europe, the wide global spread of Rusal's operations makes sanctions on that company more problematic, July's memorandum said.
Friday's statement did not mention Rusal, which produced 4 million metric tons of primary aluminium last year, about 6% of global supply.
European Aluminium members include refiners, smelters, manufacturers of semi-finished products and recyclers, including top producers Hydro NHY.OL, Alcoa AA.N and Rio Tinto RIO.L.
($1 = 0.9198 euros)
(Reporting by Eric Onstad and Philip Blenkinsop; Editing by Nick Macfie and Jane Merriman)
((eric.onstad@thomsonreuters.com; +44 20 7542 7093; Twitter https://twitter.com/reutersEricO; Reuters Messaging: eric.onstad.thomsonreuters.com@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | European Aluminium members include refiners, smelters, manufacturers of semi-finished products and recyclers, including top producers Hydro NHY.OL, Alcoa AA.N and Rio Tinto RIO.L. EU members are currently debating a European Commission proposal for a 12th package of sanctions set to include import bans for diamonds and liquefied propane and measures designed to tighten implementation of a price cap on Russian oil. "We strongly encourage the European Union to accelerate its efforts and broaden their scope to cover all major product categories," said Director General Paul Voss. | European Aluminium members include refiners, smelters, manufacturers of semi-finished products and recyclers, including top producers Hydro NHY.OL, Alcoa AA.N and Rio Tinto RIO.L. Updates with data on Russian aluminium imports in paragraphs 5-6 LONDON/BRUSSELS, Nov 17 (Reuters) - The European Union should impose broader import bans on Russian aluminium, industry group European Aluminium said on Friday, arguing that the current proposal to ban certain products would have only a limited impact. In the first nine months of this year, EU imported almost 500,000 metric tons of Russian aluminium and aluminium products worth 1.26 billion euros ($1.37 billion), according to Eurostat data. | European Aluminium members include refiners, smelters, manufacturers of semi-finished products and recyclers, including top producers Hydro NHY.OL, Alcoa AA.N and Rio Tinto RIO.L. Updates with data on Russian aluminium imports in paragraphs 5-6 LONDON/BRUSSELS, Nov 17 (Reuters) - The European Union should impose broader import bans on Russian aluminium, industry group European Aluminium said on Friday, arguing that the current proposal to ban certain products would have only a limited impact. It also includes bans on aluminium wires, tubes and pipes, but these only make up 12% of EU aluminium imports from Russia, European Aluminium said in a statement. | European Aluminium members include refiners, smelters, manufacturers of semi-finished products and recyclers, including top producers Hydro NHY.OL, Alcoa AA.N and Rio Tinto RIO.L. Updates with data on Russian aluminium imports in paragraphs 5-6 LONDON/BRUSSELS, Nov 17 (Reuters) - The European Union should impose broader import bans on Russian aluminium, industry group European Aluminium said on Friday, arguing that the current proposal to ban certain products would have only a limited impact. It also includes bans on aluminium wires, tubes and pipes, but these only make up 12% of EU aluminium imports from Russia, European Aluminium said in a statement. | 17c96a4c-af12-4ca7-8b93-f90721dcc6da |
394.0 | 2023-11-07 00:00:00 UTC | COLUMN-New EU power market, same old problems for metals sector: Andy Home | AA | https://www.nasdaq.com/articles/column-new-eu-power-market-same-old-problems-for-metals-sector%3A-andy-home-0 | nan | nan | By Andy Home
LONDON, Nov 7 (Reuters) - European Union (EU) energy ministers last month struck a deal to reform the bloc's power market.
The proposed changes to the EU's "electricity market design" are a response to the spike in European power prices following Russia's invasion of Ukraine in February 2022.
They will, according to Spain's Energy Minister Teresa Ribera, mean that "consumers across the EU will be able to benefit from much more stable prices of energy, less dependency on the price of fossil fuels and better protection from future crises".
But will it be enough to save Europe's struggling industrial metals production sector?
The brutal reality is that half of the region's primary aluminium and zinc capacity and almost a third of its silicon capacity is currently offline due to high power prices.
The immediate impact comes with potential future impact as well.
Producers are reluctant to invest in the new metals capacity needed to achieve Europe's self-sufficiency goals because they can't model power prices over the time-frame to build a new mine or smelter.
"We need bold action to get out of a dead-end street," was the stark warning from Bernard Respaut, head of the European Copper Institute (ECI), speaking at a debate on Europe's power crisis jointly hosted with industry association Eurometaux.
LIGHT-TOUCH REFORM
European power prices have fallen a long way from their 2022 peaks, when the region was still reeling from the reduction in Russian gas supplies.
However, they are by no means back to levels trading before Russia's invasion of Ukraine, and that isn't going to change any time soon.
Wholesale pricing will continue to be determined on a pay-as-clear model, where bidding goes from the cheapest to the most expensive source, which tends to be gas. It's just that it's now LNG rather than Russian gas that sets the price.
EU member states were deeply split on proposals for more fundamental reform of Europe's power market to allow for a complete break of the gas-power price linkage.
The hard-won compromise keeps the existing market mechanism, which its supporters claim is more efficient than other models in a liberalised electricity market.
Rather, the focus will be on longer-term price stabilisers such as power purchase agreements (PPA) between generators and users and two-way contracts for difference (CFD) for investment in new green generation.
THE PPA PROBLEM
U.S. aluminium producer Alcoa AA.N is a poster child for Europe's PPA model, using it to help secure the long-term future of its San Ciprian smelter in Spain.
The company has PPAs with local power suppliers Endesa ELE.MC and Greenalia covering around 75% of the smelter's base load power when it returns from care and maintenance next year.
Alcoa has the advantage of being in Spain, which has been aggressively building out renewable energy capacity and has Europe's most developed PPA market.
The country is Europe's third highest renewable energy generator, much of it solar, and has by far the highest PPA contract capacity at a current 4.2 gigawatts, according to the European Commission. ("The development of renewable energy in the electricity market", June 2023).
Others are not so fortunate.
"We can't buy a PPA because it's not available on the market," Mats Gustavsson, head of energy at Swedish base metals producer Boliden BOL.ST, told the Eurometaux meeting.
With limited forward liquidity in the company's local Nordpool power market, "no-one's willing to take the risk on a fixed-term PPA", he said.
Even if the local market structure allows for PPAs, many smaller companies struggle to pass the credit tests needed to sign what can be as long as a 10-year contract.
Moreover, many power suppliers will only offer PPAs on a pay-as-produced basis rather than the base-load structure that metal producers would prefer.
The EU reform package is intended to iron out some of these problems by, for example, mandating member states to ensure guarantee schemes for smaller companies looking to enter PPAs.
But it offers neither short-term relief for Europe's many mothballed production facilities nor the levels of certainty needed to build the next generation of mines and processing plants.
STRATEGIC DIALOGUE
Europe's focus on the longer-term solution, pivoting towards cheaper renewable energy, leaves untouched the immediate problem of tying spot power pricing to a volatile gas market.
The bloc's power prices have historically been twice those of the U.S., but are now three or four times higher.
Metals producers are not only having to adjust to currently high electricity costs, but face even higher costs as they seek their own pathway to net zero.
The danger is that the cost of going green "is going to kill us", Gustavsson said. Boliden, it's worth noting, has just shuttered its Tara zinc-lead mine in Ireland at least partly due to high energy costs.
The answer, according to the ECI's Respaut, is to take a more comprehensive approach to Europe's industrial base and connect the disparate dots of critical metals production, renewable energy and power pricing.
Europe has to decide which strategic sectors it wants to keep and what it needs to do to help them not just survive but thrive.
And it needs to do so sooner rather than later.
As Respaut concluded: "We need to get to action, because time is running."
The opinions expressed here are those of the author, a columnist for Reuters.
European power prices have fallen but not back to pre-2022 levels https://tmsnrt.rs/3QMlJfk
(Editing by Jan Harvey)
((andy.home@thomsonreuters.com, 44-207-542-4412 and on Twitter https://twitter.com/AndyHomeMetals))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | U.S. aluminium producer Alcoa AA.N is a poster child for Europe's PPA model, using it to help secure the long-term future of its San Ciprian smelter in Spain. Producers are reluctant to invest in the new metals capacity needed to achieve Europe's self-sufficiency goals because they can't model power prices over the time-frame to build a new mine or smelter. "We need bold action to get out of a dead-end street," was the stark warning from Bernard Respaut, head of the European Copper Institute (ECI), speaking at a debate on Europe's power crisis jointly hosted with industry association Eurometaux. | U.S. aluminium producer Alcoa AA.N is a poster child for Europe's PPA model, using it to help secure the long-term future of its San Ciprian smelter in Spain. But will it be enough to save Europe's struggling industrial metals production sector? Alcoa has the advantage of being in Spain, which has been aggressively building out renewable energy capacity and has Europe's most developed PPA market. | U.S. aluminium producer Alcoa AA.N is a poster child for Europe's PPA model, using it to help secure the long-term future of its San Ciprian smelter in Spain. Producers are reluctant to invest in the new metals capacity needed to achieve Europe's self-sufficiency goals because they can't model power prices over the time-frame to build a new mine or smelter. Europe's focus on the longer-term solution, pivoting towards cheaper renewable energy, leaves untouched the immediate problem of tying spot power pricing to a volatile gas market. | U.S. aluminium producer Alcoa AA.N is a poster child for Europe's PPA model, using it to help secure the long-term future of its San Ciprian smelter in Spain. Alcoa has the advantage of being in Spain, which has been aggressively building out renewable energy capacity and has Europe's most developed PPA market. ("The development of renewable energy in the electricity market", June 2023). | 992e5f8c-b1b9-45df-ac8a-80fa04e74a53 |
416.0 | 2023-10-11 00:00:00 UTC | AZZ's Q2 Earnings Surpass Estimates, Sales Decrease Y/Y | AA | https://www.nasdaq.com/articles/azzs-q2-earnings-surpass-estimates-sales-decrease-y-y | nan | nan | AZZ Inc. AZZ reported second-quarter fiscal 2024 (ended Aug 31, 2023) adjusted earnings of $1.27 per share, which surpassed the Zacks Consensus Estimate of 82 cents by 54.9%. The bottom line also increased 5% from the year-ago quarter’s earnings.
The company’s GAAP earnings per share from continuing operations in the reported quarter was 97 cents, up 4.3% from the prior-year quarter.
Total Sales
Its total sales amounted to $398.5 million, surpassing the Zacks Consensus Estimate of $377 million by 5.7%. The top line was, however, down 2% from the prior-year quarter.
AZZ Inc. Price, Consensus and EPS Surprise
AZZ Inc. price-consensus-eps-surprise-chart | AZZ Inc. Quote
Segment Performance
Metal Coating: Sales from the segment increased 2.4% to $169.8 million from $165.8 million in the prior-year quarter. The year-over-year improvement was due to higher volume and increased selling price.
Precoat Metal: The segment generated sales of $228.7 million in the reported quarter, down 5% from the prior-year quarter. The segment’s fall in sales can be attributed to lower volume in HVAC, transportation, and certain construction end markets.
Highlights of the Release
The operating income in the fiscal second quarter was down 4.9% year over year to $61 million.
AZZ incurred interest expenses of $27.8 million, down 1.3% from the year-ago period.
Financial Position
As of Aug 31, 2023, the company had cash and cash equivalents of $2.1 million compared with $2.8 million as of Feb 28, 2023.
Total capital expenditure in the reported quarter was $25.7 million, an increase from $15.2 million in the year-ago quarter.
The net cash provided by operating activities was $118.3 million, an increase from $91.5 million as of Feb 28, 2023.
The company’s long-term debt in the reported quarter was $1 billion compared with $1.06 billion as of Feb 28, 2023.
The company returned $7.9 million to its shareholders as dividends during the fiscal second quarter.
Zacks Rank
AZZ currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Upcoming Sector Releases
Alcoa Corporation AA is scheduled to announce third-quarter 2023 results on Oct 18 after market close. The Zacks Consensus Estimate for third-quarter 2023 loss is pegged at $1.04 per share.
AA’s long-term (three to five years) earnings growth is projected at 11.2%.
A. O. Smith Corporation AOS is scheduled to announce third-quarter 2023 results on Oct 26 before the market opens. The Zacks Consensus Estimate for third-quarter 2023 earnings is pegged at 77 cents per share.
AOS’ long-term earnings growth is projected at 9%. The company delivered an average earnings surprise of 10.48% in the last four quarters.
Emerson Electric Co. EMR is expected to announce third-quarter 2023 results on Oct 30. The Zacks Consensus Estimate for third-quarter 2023 earnings is pegged at $1.30 per share.
EMR’s long-term earnings growth is projected at 10.5%. The company delivered an average earnings surprise of 7.36% in the last four quarters.
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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. | Upcoming Sector Releases Alcoa Corporation AA is scheduled to announce third-quarter 2023 results on Oct 18 after market close. The company’s GAAP earnings per share from continuing operations in the reported quarter was 97 cents, up 4.3% from the prior-year quarter. AA’s long-term (three to five years) earnings growth is projected at 11.2%. | Click to get this free report Emerson Electric Co. (EMR) : Free Stock Analysis Report Alcoa (AA) : Free Stock Analysis Report A. O. Smith Corporation (AOS) : Free Stock Analysis Report AZZ Inc. (AZZ) : Free Stock Analysis Report To read this article on Zacks.com click here. The company’s GAAP earnings per share from continuing operations in the reported quarter was 97 cents, up 4.3% from the prior-year quarter. Upcoming Sector Releases Alcoa Corporation AA is scheduled to announce third-quarter 2023 results on Oct 18 after market close. | Click to get this free report Emerson Electric Co. (EMR) : Free Stock Analysis Report Alcoa (AA) : Free Stock Analysis Report A. O. Smith Corporation (AOS) : Free Stock Analysis Report AZZ Inc. (AZZ) : Free Stock Analysis Report To read this article on Zacks.com click here. The company’s GAAP earnings per share from continuing operations in the reported quarter was 97 cents, up 4.3% from the prior-year quarter. Upcoming Sector Releases Alcoa Corporation AA is scheduled to announce third-quarter 2023 results on Oct 18 after market close. | The company’s GAAP earnings per share from continuing operations in the reported quarter was 97 cents, up 4.3% from the prior-year quarter. Upcoming Sector Releases Alcoa Corporation AA is scheduled to announce third-quarter 2023 results on Oct 18 after market close. AA’s long-term (three to five years) earnings growth is projected at 11.2%. | 78b7be79-f5a9-4698-a947-9ed6d8f6475d |
419.0 | 2023-10-04 00:00:00 UTC | 3 Long-Term Stocks Ready to Take Off Soon | AA | https://www.nasdaq.com/articles/3-long-term-stocks-ready-to-take-off-soon | nan | nan | InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Investors shouldn’t be scared out of this market. On the contrary, they should be looking for buying opportunities as stock prices trend lower. This is especially true for buy-and-hold investors who are in it for the long term. And there are lots of great stocks available right now at decent prices. Many stocks are downright cheap. This has led to investors looking for long-term stocks.
Investors looking to take positions in well-managed companies that have a history of rewarding their stockholders can find plenty of opportunities in the current market. There are also beaten-down names that have new catalysts working in their favor and the potential to turn their operations and share price performance around for the better. The key is to look for opportunities, buy with conviction, and hold for the long term.
Dillard’s (DDS)
Source: ESB Professional / Shutterstock.com
For all its success, you’d think that the upscale American department store chain Dillard’s (NYSE:DDS) would get more attention. Sadly, no. But the company that continues to be run by the same Dillard family that founded it back in 1938 during the Great Depression has a remarkable track record.
While DDS stock is flat this year, it has gained 325% over the last five years, outpacing many technology stocks over the same period of time.
Dillard’s has achieved success mainly through careful family stewardship that emphasizes slow and steady growth and places a premium on two-way loyalty between management and employees. With fewer than 300 stores in 29 states, Dillard’s is no Walmart (NYSE:WMT). However, the company’s measured approach and focus on providing customers with a positive shopping experience has led to success. DDS stock looks affordable right now trading at only six times future earnings. It also pays a quarterly dividend of 25 cents per share.
Alcoa (AA)
Source: shutterstock.com/MOLPIX
Aluminum giant Alcoa (NYSE:AA) has struggled mightily in recent years. AA stock is down 34% this year, including a 25% decline over the last 12 months. However, hope arrives at the beaten-down company in the form of a new chief executive officer (CEO). The Pittsburgh-based company just announced that William Oplinger has succeeded Roy Harvey as CEO. Alcoa added that Harvey will remain on as a strategic adviser until the end of this year to help with the transition.
Oplinger had previously served as Alcoa’s chief operations officer and knows the company intimately. The previous CEO, Roy Harvey, had been at Alcoa’s helm since November 2016, which is when the aluminum maker went public. Alcoa didn’t discuss the CEO change, saying only in a written statement that the executive shake-up is part of its “succession planning process.” However, the leadership change comes ahead of Alcoa reporting its Q3 financial results in mid-October.
While it might take some time, a new CEO could help to get AA stock moving back in the right direction after a long period of underperformance. Alcoa’s stock also pays a quarterly dividend of 10 cents a share.
Costco (COST)
Source: Shutterstock
Big box retailer Costco (NASDAQ:COST) continues to thrive and just reported strong financial results that beat Wall Street expectations on both the top and bottom lines. The company is benefitting from strong grocery sales even as consumers cut back on discretionary and big-ticket items such as furniture and electronics at its stores. Drawn by more affordable groceries, traffic at Costco stores worldwide rose 5.2% and gained 5% within the U.S. on a year-over-year basis during the company’s most recent quarter.
Investors and analysts continue to hold out hope for two developments at Costco, both of which could transpire in Q4 of this year. The first is a long-awaited membership fee hike. The last time Costco raised its membership fees was in 2017. Analysts say it is only a matter of time before the company acquiesces and lifts it membership tiers. The second event is a special dividend payment. The last such payment to stockholders occurred during the pandemic. A strong finish to the year could provide management with the impetus to reward shareholders.
COST stock is up 25% this year and has increased 158% over the last five years.
On the date of publication, Joel Baglole did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
Joel Baglole has been a business journalist for 20 years. He spent five years as a staff reporter at The Wall Street Journal, and has also written for The Washington Post and Toronto Star newspapers, as well as financial websites such as The Motley Fool and Investopedia.
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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 (AA) Source: shutterstock.com/MOLPIX Aluminum giant Alcoa (NYSE:AA) has struggled mightily in recent years. AA stock is down 34% this year, including a 25% decline over the last 12 months. While it might take some time, a new CEO could help to get AA stock moving back in the right direction after a long period of underperformance. | Alcoa (AA) Source: shutterstock.com/MOLPIX Aluminum giant Alcoa (NYSE:AA) has struggled mightily in recent years. While it might take some time, a new CEO could help to get AA stock moving back in the right direction after a long period of underperformance. AA stock is down 34% this year, including a 25% decline over the last 12 months. | Alcoa (AA) Source: shutterstock.com/MOLPIX Aluminum giant Alcoa (NYSE:AA) has struggled mightily in recent years. AA stock is down 34% this year, including a 25% decline over the last 12 months. While it might take some time, a new CEO could help to get AA stock moving back in the right direction after a long period of underperformance. | Alcoa (AA) Source: shutterstock.com/MOLPIX Aluminum giant Alcoa (NYSE:AA) has struggled mightily in recent years. While it might take some time, a new CEO could help to get AA stock moving back in the right direction after a long period of underperformance. AA stock is down 34% this year, including a 25% decline over the last 12 months. | c569b59e-1c24-4e23-b5b4-a675aa67f819 |
423.0 | 2023-09-25 00:00:00 UTC | Alcoa appoints insider William Oplinger as CEO | AA | https://www.nasdaq.com/articles/alcoa-appoints-insider-william-oplinger-as-ceo | nan | nan | Sept 25 (Reuters) - Alcoa AA.N said on Monday it has appointed internal candidate William Oplinger as chief executive officer and president, effective Sept. 24, 2023.
(Reporting by Mehr Bedi in Bengaluru; Editing by Shilpi Majumdar)
((Mehr.Bedi@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Sept 25 (Reuters) - Alcoa AA.N said on Monday it has appointed internal candidate William Oplinger as chief executive officer and president, effective Sept. 24, 2023. (Reporting by Mehr Bedi in Bengaluru; Editing by Shilpi Majumdar) ((Mehr.Bedi@thomsonreuters.com;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Sept 25 (Reuters) - Alcoa AA.N said on Monday it has appointed internal candidate William Oplinger as chief executive officer and president, effective Sept. 24, 2023. (Reporting by Mehr Bedi in Bengaluru; Editing by Shilpi Majumdar) ((Mehr.Bedi@thomsonreuters.com;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Sept 25 (Reuters) - Alcoa AA.N said on Monday it has appointed internal candidate William Oplinger as chief executive officer and president, effective Sept. 24, 2023. (Reporting by Mehr Bedi in Bengaluru; Editing by Shilpi Majumdar) ((Mehr.Bedi@thomsonreuters.com;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Sept 25 (Reuters) - Alcoa AA.N said on Monday it has appointed internal candidate William Oplinger as chief executive officer and president, effective Sept. 24, 2023. (Reporting by Mehr Bedi in Bengaluru; Editing by Shilpi Majumdar) ((Mehr.Bedi@thomsonreuters.com;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | d165d68d-bd1f-4275-9c53-219a18add516 |
424.0 | 2023-09-25 00:00:00 UTC | Alcoa Slides 5% In Morning Trade | AA | https://www.nasdaq.com/articles/alcoa-slides-5-in-morning-trade | nan | nan | (RTTNews) - Alcoa Corp. (AA) shares are declining more than 4 percent on Monday morning trade.
The company named William Oplinger as President and CEO, to replace Roy Harvey, effective September 24.
Oplinger has been serving as Chief Operating Officer of Alcoa.
Currently, shares are at $26.87, down 5.19 percent from the previous close of $28.35 on a volume of 1,503,984.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (RTTNews) - Alcoa Corp. (AA) shares are declining more than 4 percent on Monday morning trade. The company named William Oplinger as President and CEO, to replace Roy Harvey, effective September 24. Oplinger has been serving as Chief Operating Officer of Alcoa. | (RTTNews) - Alcoa Corp. (AA) shares are declining more than 4 percent on Monday morning trade. Currently, shares are at $26.87, down 5.19 percent from the previous close of $28.35 on a volume of 1,503,984. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (RTTNews) - Alcoa Corp. (AA) shares are declining more than 4 percent on Monday morning trade. The company named William Oplinger as President and CEO, to replace Roy Harvey, effective September 24. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (RTTNews) - Alcoa Corp. (AA) shares are declining more than 4 percent on Monday morning trade. The company named William Oplinger as President and CEO, to replace Roy Harvey, effective September 24. Oplinger has been serving as Chief Operating Officer of Alcoa. | ce15344d-9259-465d-a292-88bf36a84080 |
432.0 | 2023-09-12 00:00:00 UTC | 1 Stock to Buy Now for the Aluminum Price Recovery | AA | https://www.nasdaq.com/articles/1-stock-to-buy-now-for-the-aluminum-price-recovery | nan | nan | This year has not been a good one for aluminum prices (ALU23). The aluminum futures benchmark on the London Metal Exchange has fallen nearly a fifth since its January peak, and more than 40% from last year’s highs — largely due to economic weakness in Europe and the U.S., and poor construction demand in China.
The benchmark three-month future contract on the LME is currently about $2,180 a metric ton, down from more than $3,840 a ton at last year’s peak.
This slump in aluminum prices this year is reflecting the long-awaited, but yet-to-materialize global economic slowdown. Used in everything from buildings, beverage cans, solar panels, automobiles and airplanes, aluminum prices are often a proxy for expected industrial activity.
With aluminum trading at levels last seen in early 2021, it may be “nearing a bottom,” according to producers and industry analysts, who are growing increasingly bullish about demand over the medium term for the metal from quickly growing clean technologies. These technologies include electric vehicles (EVs) and solar panels.
Demand from the solar market is particularly strong at the moment. Solar farms typically use aluminum for frames and mounting solar panels. Electric vehicles also require more aluminum than traditional internal combustion engine cars.
The Aluminum Market Now
Aluminum prices this month experienced their largest contango since the 2008-09 global financial crisis. Contango means that aluminum bought currently is at a discount to the futures prices for aluminum. This reflects weak spot (immediate) demand, as well as the expectation that future prices will be higher than today.
Estimates are that there is currently a global surplus of just over 800,000 metric tons this year, and that is weighing on the price.
But there are also signs that the gloomy fog over aluminum is beginning to lift, as a period of running down global aluminum inventories appears to be coming to an end.Surprisingly to some, China has actually been a bright spot for aluminum demand. That’s due to the fact that rapidly growing spending on clean energy infrastructure is more than making up for slumping demand from the highly indebted Chinese property sector.
Graeme Train, head of metals research at trading house Trafigura (one of the world’s largest metals traders), told the Financial Times that “Chinese demand is running at a record high.”
In July, China’s imports of aluminum rose 20% compared with a year earlier. However, that positive is being partially offset by China’s domestic production of aluminum, which is close to a record high.
Add up all the factors, and the outlook for aluminum looks much more interesting - over the medium term - than it has been for a long time.
One way to participate in aluminum’s upside potential is by purchasing Alcoa (AA) stock. Let’s take a closer look at the company.
Alcoa Outlook
Alcoa, founded in 1888, is one of the world’s largest aluminum producers. It is a vertically integrated aluminum company that is comprised of bauxite mining, alumina refining, aluminum production (smelting and casting), and energy generation. The company has 27 operating locations (through direct and indirect ownership) in 9 countries on 6 continents, situated primarily in Australia, Brazil, Canada, Iceland, Norway, Spain, and the U.S.
Alcoa's assets include the largest bauxite mining portfolio in the world, a globally-diverse alumina refining system, and an aluminum smelting portfolio. The company is one of the world’s largest bauxite miners, with access to large bauxite deposit areas with mining rights that extend (in most cases) more than 20 years. Alcoa has ownership in seven active bauxite mines globally, four of which it operates, that are strategically located near key Atlantic and Pacific markets. This includes the Huntly mine in Australia, which the second largest bauxite mine in the world.
Alcoa is also the world’s largest alumina producer outside of China, with a highly competitive cost curve position. It has seven refineries on four continents, including one of the world’s largest alumina production facilities, the Pinjarra refinery in Western Australia. In addition to supplying its aluminum smelters with high-quality feedstock, AA also has significant alumina sales to third parties, with around two thirds of production being sold externally.
Alcoa’s stock is down 45% over the past year and 37.6% year-to-date. The shares have sold off over lower aluminum prices and the related fears of a steep global recession, and now trade just over $28.
www.barchart.com
Even if Alcoa stock goes back to $35 a share, it would imply an EV/EBITDA (enterprise value/earnings before interest, taxes, depreciation, and amortization ratio) of 4.8 times its 2024 EBITDA estimate. That’s in line with its three-year average forward EV/EBITDA - but a discount to its peers, which trade at an average of 7.5 times.
Given Alcoa’s compelling valuation and strong free cash flow yield, I am confident in the company, as it is increasingly relied upon to meet the growing structural demand from electrification and the global energy transition.
AA can be bought anywhere below $30 a share.
On the date of publication, Tony Daltorio did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | One way to participate in aluminum’s upside potential is by purchasing Alcoa (AA) stock. In addition to supplying its aluminum smelters with high-quality feedstock, AA also has significant alumina sales to third parties, with around two thirds of production being sold externally. AA can be bought anywhere below $30 a share. | One way to participate in aluminum’s upside potential is by purchasing Alcoa (AA) stock. In addition to supplying its aluminum smelters with high-quality feedstock, AA also has significant alumina sales to third parties, with around two thirds of production being sold externally. AA can be bought anywhere below $30 a share. | One way to participate in aluminum’s upside potential is by purchasing Alcoa (AA) stock. In addition to supplying its aluminum smelters with high-quality feedstock, AA also has significant alumina sales to third parties, with around two thirds of production being sold externally. AA can be bought anywhere below $30 a share. | AA can be bought anywhere below $30 a share. One way to participate in aluminum’s upside potential is by purchasing Alcoa (AA) stock. In addition to supplying its aluminum smelters with high-quality feedstock, AA also has significant alumina sales to third parties, with around two thirds of production being sold externally. | 5c53140f-d972-4a06-bd2e-68b69377f790 |
445.0 | 2023-08-03 00:00:00 UTC | Ex-Dividend Reminder: National Instruments Corp., Kennametal and Alcoa Corporation | AA | https://www.nasdaq.com/articles/ex-dividend-reminder%3A-national-instruments-corp.-kennametal-and-alcoa-corporation | nan | nan | Looking at the universe of stocks we cover at Dividend Channel, on 8/7/23, National Instruments Corp. (Symbol: NATI), Kennametal Inc. (Symbol: KMT), and Alcoa Corporation (Symbol: AA) will all trade ex-dividend for their respective upcoming dividends. National Instruments Corp. will pay its quarterly dividend of $0.28 on 8/29/23, Kennametal Inc. will pay its quarterly dividend of $0.20 on 8/22/23, and Alcoa Corporation will pay its quarterly dividend of $0.10 on 8/24/23. As a percentage of NATI's recent stock price of $59.10, this dividend works out to approximately 0.47%, so look for shares of National Instruments Corp. to trade 0.47% lower — all else being equal — when NATI shares open for trading on 8/7/23. Similarly, investors should look for KMT to open 0.71% lower in price and for AA to open 0.29% lower, all else being equal.
Below are dividend history charts for NATI, KMT, and AA, showing historical dividends prior to the most recent ones declared.
National Instruments Corp. (Symbol: NATI):
Kennametal Inc. (Symbol: KMT):
Alcoa Corporation (Symbol: AA):
In general, dividends are not always predictable, following the ups and downs of company profits over time. Therefore, a good first due diligence step in forming an expectation of annual yield going forward, is looking at the history above, for a sense of stability over time. This can help in judging whether the most recent dividends from these companies are likely to continue. If they do continue, the current estimated yields on annualized basis would be 1.90% for National Instruments Corp., 2.86% for Kennametal Inc., and 1.18% for Alcoa Corporation.
In Thursday trading, National Instruments Corp. shares are currently up about 0.1%, Kennametal Inc. shares are off about 2.7%, and Alcoa Corporation shares are up about 0.1% on the day.
Click here to learn which 25 S.A.F.E. dividend stocks should be on your radar screen »
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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. | Looking at the universe of stocks we cover at Dividend Channel, on 8/7/23, National Instruments Corp. (Symbol: NATI), Kennametal Inc. (Symbol: KMT), and Alcoa Corporation (Symbol: AA) will all trade ex-dividend for their respective upcoming dividends. Similarly, investors should look for KMT to open 0.71% lower in price and for AA to open 0.29% lower, all else being equal. Below are dividend history charts for NATI, KMT, and AA, showing historical dividends prior to the most recent ones declared. | Looking at the universe of stocks we cover at Dividend Channel, on 8/7/23, National Instruments Corp. (Symbol: NATI), Kennametal Inc. (Symbol: KMT), and Alcoa Corporation (Symbol: AA) will all trade ex-dividend for their respective upcoming dividends. National Instruments Corp. (Symbol: NATI): Kennametal Inc. (Symbol: KMT): Alcoa Corporation (Symbol: AA): In general, dividends are not always predictable, following the ups and downs of company profits over time. Similarly, investors should look for KMT to open 0.71% lower in price and for AA to open 0.29% lower, all else being equal. | Looking at the universe of stocks we cover at Dividend Channel, on 8/7/23, National Instruments Corp. (Symbol: NATI), Kennametal Inc. (Symbol: KMT), and Alcoa Corporation (Symbol: AA) will all trade ex-dividend for their respective upcoming dividends. National Instruments Corp. (Symbol: NATI): Kennametal Inc. (Symbol: KMT): Alcoa Corporation (Symbol: AA): In general, dividends are not always predictable, following the ups and downs of company profits over time. Similarly, investors should look for KMT to open 0.71% lower in price and for AA to open 0.29% lower, all else being equal. | Looking at the universe of stocks we cover at Dividend Channel, on 8/7/23, National Instruments Corp. (Symbol: NATI), Kennametal Inc. (Symbol: KMT), and Alcoa Corporation (Symbol: AA) will all trade ex-dividend for their respective upcoming dividends. Similarly, investors should look for KMT to open 0.71% lower in price and for AA to open 0.29% lower, all else being equal. Below are dividend history charts for NATI, KMT, and AA, showing historical dividends prior to the most recent ones declared. | c56f8a56-2490-4df1-b352-1d497dfc4728 |
447.0 | 2023-08-03 00:00:00 UTC | COLUMN-Rio Tinto counts the cost of producing green aluminium: Andy Home | AA | https://www.nasdaq.com/articles/column-rio-tinto-counts-the-cost-of-producing-green-aluminium%3A-andy-home | nan | nan | By Andy Home
LONDON, Aug 3 (Reuters) - Rio Tinto RIO.L is finding out just how hard it is to produce low-carbon aluminium.
The company booked a $1.175 billion impairment charge against its two Australian alumina refineries in its second-quarter results.
This is in part down to what Rio Tinto called "challenging market conditions" for alumina, which is refined from bauxite and then fed into a smelter for conversion into metal.
But it is also down to the cost of decarbonising two of the company's biggest greenhouse gas emitters.
The short-term cost comes in the form of Australia's new carbon tax on big industrial operators.
The long-term problem is the dependence of both Rio's alumina refineries and aluminium smelters on a national power grid that is largely driven by coal and gas.
Such is the aluminium paradox. A metal that is core to the green energy transition comes with a heavy carbon footprint, the sector accounting for around 2% of all man-made emissions every year.
CARBON PROBLEMS
Rio Tinto has conceded it is unlikely to meet its 15% target for reducing group emissions by 2025 without buying carbon credits, although it remains committed to its goal of cutting emissions in half by 2030.
The company's biggest carbon headache is its aluminium business, which last year accounted for 21.1 million metric tons of carbon emissions out of a group total of 30.3 million metric tons.
Rio's Canadian smelter network draws power from Quebec's hydro-electric system, meaning its Atlantic operations generated 4.8 million metric tons of carbon equivalent last year, half the amount produced by its Pacific operations, according to Rio's 2022 sustainability report.
The two Pacific region refineries, Queensland Aluminium (QAL) and Yarwun, with combined alumina production last year of 6.4 million metric tons, are responsible for half of Rio's Scope 1 direct emissions in Australia.
Together with the company's three power-hungry smelters, the Australian operations represent around half of the group's direct and Scope 2 emissions, which include the carbon footprint of energy used in the aluminium production process.
WRITE-DOWNS
Rio's impairment charge, which comes in at $828 million after tax, comprises a complete write-down of the Yarwun refinery and a $227 million impairment of the QAL plant.
The company is evaluating a major capital investment project at QAL aimed at boosting efficiency and cutting emissions. If the so-called "double digestion" project doesn't go ahead, the operation will also be fully written down, Rio said.
The trigger for the write-down is the Australian government's revised Safeguard Mechanism, which came into force in July. It sets carbon caps on some of the country's biggest emitters, forcing them to pay for carbon offsets if they breach the upper threshold.
That imposes extra costs on a business in which "we're actually not really making money", Rio Tinto CEO Jakob Stausholm told analysts on the company's quarterly results call.
The baseline for calculating the carbon caps will decline by 4.9% each year until 2030, which the government hopes will allow companies time to decarbonise their operations.
Rio has won some concessions from the government on the basis that its aluminium assets are a strategic part of the country's industrial profile, but its two refineries have still not escaped the negative financial impact.
GRID-LOCK
As well as looking at an upgrade at QAL, Rio has partnered with Japan's Sumitomo Corp on a project to use hydrogen rather than natural gas at Yarwun.
The pilot plant will produce around 6,000 metric tons of alumina per year while cutting carbon dioxide emissions by about 3,000 metric tons per year.
This, however, is experimental technology and doesn't provide an immediate solution to the bigger problem of decarbonising Australia's grid.
The country's six alumina refineries were 93% dependent on coal or gas power in 2021, according to the International Aluminium Institute.
Rio's three smelters and the Portland plant, majority owned by U.S. producer Alcoa AA.N, are equally tied to fossil fuel power.
The scale of converting the existing grid to renewable energy is daunting.
Switching Rio's operations to wind or solar would mean building a renewable energy park 12 times larger than anything so far constructed in Australia, according to Stausholm.
"So it's not something you just solve from one day to another," he told analysts.
LONG-TERM THREAT
Rio is pursuing multiple paths towards greener aluminium in its North American operations.
It has partnered with Alcoa on producing aluminium using inert cathode technology, which will reduce Scope 1 emissions in the smelting process.
Construction of the first commercial-scale prototype cells has begun at the company's Alma smelter in Canada with operations due to begin this year.
Capacity at the low-carbon AP60 smelter, also in Quebec, will be expanded by 160,000 metric tons per year, with commissioning expected in 2026.
Rio is investing heavily in recycled aluminium, which can be remelted using just 5% of the power needed to produce virgin metal.
The company has just announced a joint venture with Giampaolo Group, one of North America's largest secondary aluminium operators, with the capacity to produce 900,000 metric tons a year of recycled metal.
But its Australian operations are going to remain a significant brake on the company's journey towards a lower carbon future.
Rio views the business as "critical" to its wider portfolio, according to Peter Cunningham, the company's chief financial officer.
It is also critical to Australia, not just because of its size but because, as Stausholm pointed out, it is "a business that can underwrite a lot of renewable energy".
"But if we can't get firm renewable energy at a competitive price, it's going to be impossible for us to manufacture and export aluminium out of Australia," he warned.
Rio's predicament neatly encapsulates the power paradox facing aluminium producers everywhere. Going green needs green energy, and there's not enough of it around right now.
The opinions expressed here are those of the author, a columnist for Reuters.
(Editing by Jan Harvey)
((andy.home@thomsonreuters.com, 44-207-542-4412 and on Twitter https://twitter.com/AndyHomeMetals))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Rio's three smelters and the Portland plant, majority owned by U.S. producer Alcoa AA.N, are equally tied to fossil fuel power. The two Pacific region refineries, Queensland Aluminium (QAL) and Yarwun, with combined alumina production last year of 6.4 million metric tons, are responsible for half of Rio's Scope 1 direct emissions in Australia. Together with the company's three power-hungry smelters, the Australian operations represent around half of the group's direct and Scope 2 emissions, which include the carbon footprint of energy used in the aluminium production process. | Rio's three smelters and the Portland plant, majority owned by U.S. producer Alcoa AA.N, are equally tied to fossil fuel power. The company's biggest carbon headache is its aluminium business, which last year accounted for 21.1 million metric tons of carbon emissions out of a group total of 30.3 million metric tons. The two Pacific region refineries, Queensland Aluminium (QAL) and Yarwun, with combined alumina production last year of 6.4 million metric tons, are responsible for half of Rio's Scope 1 direct emissions in Australia. | Rio's three smelters and the Portland plant, majority owned by U.S. producer Alcoa AA.N, are equally tied to fossil fuel power. The company's biggest carbon headache is its aluminium business, which last year accounted for 21.1 million metric tons of carbon emissions out of a group total of 30.3 million metric tons. Rio's Canadian smelter network draws power from Quebec's hydro-electric system, meaning its Atlantic operations generated 4.8 million metric tons of carbon equivalent last year, half the amount produced by its Pacific operations, according to Rio's 2022 sustainability report. | Rio's three smelters and the Portland plant, majority owned by U.S. producer Alcoa AA.N, are equally tied to fossil fuel power. But it is also down to the cost of decarbonising two of the company's biggest greenhouse gas emitters. The company's biggest carbon headache is its aluminium business, which last year accounted for 21.1 million metric tons of carbon emissions out of a group total of 30.3 million metric tons. | 195dc876-80db-4b28-8d3b-b245ebb7bc24 |
472.0 | 2023-07-06 00:00:00 UTC | COLUMN-Europe adds aluminium to its critical raw materials list: Andy Home | AA | https://www.nasdaq.com/articles/column-europe-adds-aluminium-to-its-critical-raw-materials-list%3A-andy-home-0 | nan | nan | By Andy Home
LONDON, July 6 (Reuters) - European Union (EU) countries have added aluminium to the list of minerals and metals covered by the Critical Raw Materials Act (CRMA).
The Act is the centerpiece of the EU's strategy for ensuring it has the necessary inputs to compete with the United States and China in the global race to decarbonise.
The initial omission of aluminium from the CRMA was greeted with outrage from parts of the industry, the Federation of Aluminium Consumers in Europe lambasting EU policy-makers for "doing the opposite of what should be done".
The last-minute inclusion of the metal, together with its upstream feeds of bauxite and alumina, attests both to the criticality of aluminium to the green revolution and Europe's increasingly precarious security of supply.
GREEN METAL
Aluminium is already the second most widely used metal in modern society after steel thanks to its high strength-to-weight ratio.
Usage is expected to grow strongly over the coming years as the energy transition gathers pace.
The World Bank has identified aluminium as a "high-impact" and "cross-cutting" metal in all existing and potential green energy technologies from solar to geothermal.
Moreover, aluminium will play an important role in light-weighting electric vehicles, allowing automakers to get more mileage out of lithium-ion batteries.
Global demand is forecast by the International Aluminium Institute (IAI) to increase by almost 40% to 119.5 million metric tons by 2030, meaning the aluminium sector needs to produce an extra 33.3 million metric tons of metal over the decade.
FALLING OUTPUT
As things stand, Europe is going to struggle to lift primary production at all over that time-frame.
Western European production has been sliding steadily over the last 15 years with run-rates dropping from over 4.5 million metric tons to a current 2.7 million.
The sector has been squeezed between high European energy prices and years of high Chinese exports, largely in the form of semi-fabricated products.
Aluminium smelters consume a lot of power and the sector has taken another hit from the energy crunch that has followed Russia's invasion of Ukraine.
Europe lost another 850,000 tonnes of primary smelter capacity between October 2021 and March 2022, according to the EU.
Some, such as Alcoa's AA.N Spanish plant, will return after new, lower-carbon power supplies are secured. Some may well never return.
IMPORT DEPENDENCY
European aluminium consumption averaged just over 5.0 million metric tons per year over the 2016-2020 period, according to the EU.
Import reliance averaged 56% over the same period, which is much lower than the bloc's 89% import reliance for bauxite and probably the reason why EU planners didn't originally include aluminium in the CRMA.
However, the key difference is where Europe sources its bauxite and primary aluminium.
Imports of bauxite over the 2016-2020 period came primarily from Guinea (70%), Brazil (14%) and Sierra Leone (10%).
Imports of primary aluminium, by contrast, were dominated by Russian metal, which accounted for an average 33% over the same five-year period, according to the EU. The next largest supplier was Mozambique, which accounted for 17% of total imports, followed by Iceland, which accounted for another 14%.
Both the United States and Britain have imposed penal duties on imports of Russian metal but the importance of Russia to Europe's supply chain has meant there are no official European sanctions against Rusal, Russia's dominant producer.
However, the dependence on Russian supply is highly problematic given the increased tensions between the EU and its eastern neighbour after the invasion of Ukraine in February 2022.
If Russian supply were taken out of the import picture, Europe's aluminium dependence would become much more acute.
POWER PROBLEMS
Getting aluminium onto Europe's critical raw materials list is an important win for the region's aluminium sector.
However, it's just the start.
Preserving what remains of the bloc's primary smelting capacity, let alone rebuilding it, is dependent on low-cost power, something that the EU is running short of right now.
The problem is compounded by aluminium producers' need to lower their carbon footprint. That requires lots of renewable power, something the region is even more short of.
The EU's proposed carbon border adjustment mechanism is another bone of contention. The European aluminium industry fears it will raise the cost of imports while not having any impact on global emissions in an industry dominated by China.
It's worth remembering that European processors are also paying import duties on both primary aluminium and alloy as a result of legacy attempts to protect the region's smelters.
Those import duties have evidently only slowed not halted the steady decline in European smelter production.
TARGETS
The EU's CRMA sets 2030 self-sufficiency targets of 10% of the bloc's consumption for production, 20% for recycling and 50% for processing. The last two have just been raised from 15% and 40% respectively.
In addition, no more than 65% of imports should come from any individual supplier.
If the EU is going to meet all those targets for aluminium, it's going to need a holistic approach that includes affordable green power pricing, a re-think of its legacy import duties and a possible fine-tuning of the proposed carbon border mechanism to reflect the reality of the global aluminium sector.
Putting it on the list of critical raw materials may be the easy part of that multi-dimensional challenge.
The opinions expressed here are those of the author, a columnist for Reuters
Western European primary aluminium production https://tmsnrt.rs/3okRwca
Russian metal accounts for one-third of Europe's aluminium imports https://tmsnrt.rs/3D3lJzY
(Editing by David Evans)
((andy.home@thomsonreuters.com, 44-207-542-4412 and on Twitter https://twitter.com/AndyHomeMetals))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Some, such as Alcoa's AA.N Spanish plant, will return after new, lower-carbon power supplies are secured. By Andy Home LONDON, July 6 (Reuters) - European Union (EU) countries have added aluminium to the list of minerals and metals covered by the Critical Raw Materials Act (CRMA). The last-minute inclusion of the metal, together with its upstream feeds of bauxite and alumina, attests both to the criticality of aluminium to the green revolution and Europe's increasingly precarious security of supply. | Some, such as Alcoa's AA.N Spanish plant, will return after new, lower-carbon power supplies are secured. European aluminium consumption averaged just over 5.0 million metric tons per year over the 2016-2020 period, according to the EU. Getting aluminium onto Europe's critical raw materials list is an important win for the region's aluminium sector. | Some, such as Alcoa's AA.N Spanish plant, will return after new, lower-carbon power supplies are secured. Getting aluminium onto Europe's critical raw materials list is an important win for the region's aluminium sector. If the EU is going to meet all those targets for aluminium, it's going to need a holistic approach that includes affordable green power pricing, a re-think of its legacy import duties and a possible fine-tuning of the proposed carbon border mechanism to reflect the reality of the global aluminium sector. | Some, such as Alcoa's AA.N Spanish plant, will return after new, lower-carbon power supplies are secured. Imports of primary aluminium, by contrast, were dominated by Russian metal, which accounted for an average 33% over the same five-year period, according to the EU. Getting aluminium onto Europe's critical raw materials list is an important win for the region's aluminium sector. | 7d423d7b-219a-4616-94e1-58ad4c1fc6ce |
496.0 | 2023-05-15 00:00:00 UTC | Alcoa signs 8-year alumina supply deal with Emirates Global Aluminium | AA | https://www.nasdaq.com/articles/alcoa-signs-8-year-alumina-supply-deal-with-emirates-global-aluminium | nan | nan | Alcoa to become EGA's largest third-party alumina supplier
The 8-year supply deal will commence in 2024
Up to 15.6 mln T of alumina to be supplied from Australia
LONDON, May 15 (Reuters) - U.S. aluminium producer Alcoa Corp AA.N has signed an eight-year agreement to supply another metal producer, Emirates Global Aluminium (EGA), with smelter grade alumina, both companies said in a statement on Monday.
Alumina is the key raw material used for making aluminium. Prices for the metal CMAL3 used in transport, construction and packaging hit their lowest since Oct. 31 last week on concerns about demand from top consumer, China.
Hopes that demand for aluminium would rise in the long-term along with consumption of other metals needed for the global green energy transition are, however, driving appetite for deals in the mining industry.
"Most of our alumina needs into the next decade are now secured by our own production and a long-term supplier in Alcoa," EGA's CEO Abdulnasser Bin Kalban said in the statement.
The agreement, which commences in 2024, will allow EGA to procure as much as 15.6 million tonnes of alumina from Western Australia and will represent a significant portion of Alcoa's annual third-party alumina sales, the companies said.
Australia banned exports of alumina to Russia in 2022 after Moscow invaded Ukraine, causing a jump in production costs of Alcoa's and EGA's rival aluminium producer - Russia's Rusal 0486.HK.
The agreement will make Alcoa EGA's largest third-party supplier of alumina, the companies said. EGA operates smelters in Abu Dhabi and Dubai, an alumina refinery in Abu Dhabi, and a bauxite mine in Guinea. Its alumina refinery met 47% of EGA's total alumina needs in 2022.
(Reporting by Polina Devitt; Editing by Marguerita Choy)
((polina.devitt@thomsonreuters.com))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Alcoa to become EGA's largest third-party alumina supplier The 8-year supply deal will commence in 2024 Up to 15.6 mln T of alumina to be supplied from Australia LONDON, May 15 (Reuters) - U.S. aluminium producer Alcoa Corp AA.N has signed an eight-year agreement to supply another metal producer, Emirates Global Aluminium (EGA), with smelter grade alumina, both companies said in a statement on Monday. Prices for the metal CMAL3 used in transport, construction and packaging hit their lowest since Oct. 31 last week on concerns about demand from top consumer, China. Hopes that demand for aluminium would rise in the long-term along with consumption of other metals needed for the global green energy transition are, however, driving appetite for deals in the mining industry. | Alcoa to become EGA's largest third-party alumina supplier The 8-year supply deal will commence in 2024 Up to 15.6 mln T of alumina to be supplied from Australia LONDON, May 15 (Reuters) - U.S. aluminium producer Alcoa Corp AA.N has signed an eight-year agreement to supply another metal producer, Emirates Global Aluminium (EGA), with smelter grade alumina, both companies said in a statement on Monday. The agreement will make Alcoa EGA's largest third-party supplier of alumina, the companies said. EGA operates smelters in Abu Dhabi and Dubai, an alumina refinery in Abu Dhabi, and a bauxite mine in Guinea. | Alcoa to become EGA's largest third-party alumina supplier The 8-year supply deal will commence in 2024 Up to 15.6 mln T of alumina to be supplied from Australia LONDON, May 15 (Reuters) - U.S. aluminium producer Alcoa Corp AA.N has signed an eight-year agreement to supply another metal producer, Emirates Global Aluminium (EGA), with smelter grade alumina, both companies said in a statement on Monday. The agreement, which commences in 2024, will allow EGA to procure as much as 15.6 million tonnes of alumina from Western Australia and will represent a significant portion of Alcoa's annual third-party alumina sales, the companies said. Australia banned exports of alumina to Russia in 2022 after Moscow invaded Ukraine, causing a jump in production costs of Alcoa's and EGA's rival aluminium producer - Russia's Rusal 0486.HK. | Alcoa to become EGA's largest third-party alumina supplier The 8-year supply deal will commence in 2024 Up to 15.6 mln T of alumina to be supplied from Australia LONDON, May 15 (Reuters) - U.S. aluminium producer Alcoa Corp AA.N has signed an eight-year agreement to supply another metal producer, Emirates Global Aluminium (EGA), with smelter grade alumina, both companies said in a statement on Monday. Prices for the metal CMAL3 used in transport, construction and packaging hit their lowest since Oct. 31 last week on concerns about demand from top consumer, China. The agreement will make Alcoa EGA's largest third-party supplier of alumina, the companies said. | e9e9802a-e645-4e0a-a412-4bfdea5eeb1f |
497.0 | 2023-05-11 00:00:00 UTC | Alcoa Reaches Tentative Agreement With United Steelworkers For Employees At Two U.S. Locations | AA | https://www.nasdaq.com/articles/alcoa-reaches-tentative-agreement-with-united-steelworkers-for-employees-at-two-u.s. | nan | nan | (RTTNews) - Alcoa Corp. (AA) announced Thursday that it has reached a tentative agreement with the United Steelworkers on a new three-year labor agreement for employees at two U.S. locations.
The union will now schedule a vote with its members to ratify the proposed contract, the result of extensive negotiations between the Company and the United Steelworkers.
The proposal will cover approximately 860 active employees at the smelter at Warrick Operations in Indiana and the smelter at Massena Operations in New York.
The existing contract was set to expire on May 15th 2023, but the parties reached agreement prior to expiration.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (RTTNews) - Alcoa Corp. (AA) announced Thursday that it has reached a tentative agreement with the United Steelworkers on a new three-year labor agreement for employees at two U.S. locations. The union will now schedule a vote with its members to ratify the proposed contract, the result of extensive negotiations between the Company and the United Steelworkers. The proposal will cover approximately 860 active employees at the smelter at Warrick Operations in Indiana and the smelter at Massena Operations in New York. | (RTTNews) - Alcoa Corp. (AA) announced Thursday that it has reached a tentative agreement with the United Steelworkers on a new three-year labor agreement for employees at two U.S. locations. The union will now schedule a vote with its members to ratify the proposed contract, the result of extensive negotiations between the Company and the United Steelworkers. The existing contract was set to expire on May 15th 2023, but the parties reached agreement prior to expiration. | (RTTNews) - Alcoa Corp. (AA) announced Thursday that it has reached a tentative agreement with the United Steelworkers on a new three-year labor agreement for employees at two U.S. locations. The proposal will cover approximately 860 active employees at the smelter at Warrick Operations in Indiana and the smelter at Massena Operations in New York. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (RTTNews) - Alcoa Corp. (AA) announced Thursday that it has reached a tentative agreement with the United Steelworkers on a new three-year labor agreement for employees at two U.S. locations. The union will now schedule a vote with its members to ratify the proposed contract, the result of extensive negotiations between the Company and the United Steelworkers. The proposal will cover approximately 860 active employees at the smelter at Warrick Operations in Indiana and the smelter at Massena Operations in New York. | 5769ed61-5828-4864-a369-c0888b5b4f50 |
499.0 | 2023-05-08 00:00:00 UTC | ‘Time to Buy,’ Says J.P. Morgan About These Top Aluminum Stocks | AA | https://www.nasdaq.com/articles/time-to-buy-says-j.p.-morgan-about-these-top-aluminum-stocks | nan | nan | Despite the strong jobs numbers for April, the overall economic outlook heading toward the second half of the year remains grim. Against a backdrop of elevated interest rates and recent bank failures, the odds of a recession hitting later this year are up to 64%. It’s an environment almost tailor-made to keep investors nervous – and looking for ‘recession proof’ sectors.
In a recent report from JPMorgan, analyst Bill Peterson sees just such an opening in the aluminum sector. Peterson has taken a deep dive into the complexities of aluminum production and products, and found that the sector presents a number of advantages that should provide long-term support, even in a downturn.
“Aluminum’s light weight and recyclability mean it will play a key role in the transition to a greener economy... J.P. Morgan’s Commodities Research team sees demand for aluminum in EVs, wind, and solar growing from around 2.4Mt in 2020 to 3.8Mt by 2025, reflecting a ~10% CAGR, which we think has significant potential for upside on the accelerated adoption of EVs based on IHS’s forecast of 23% and 45% penetration by 2025 and 2030, respectively,” Peterson explained.
Peterson isn’t just analyzing the aluminum industry as a whole, he’s also putting his finger on two stocks that he sees as winners. In fact, he's projecting more than 40% growth potential for both of them. According to TipRanks, the premier source of analyst insights and research, these stocks also boast significant double-digit upside prospects, as evaluated by other analysts in the field. Here are the details.
Constellium SE (CSTM)
We’ll start with Constellium, a Paris-based global industrial leader, with a strong position in the manufacture of aluminum products. The company also works at the development of new uses for aluminum, and is a leader working with recycled aluminum metal. Constellium is known for its advanced alloys and engineering, and its aluminum products are found in a range of applications, from the simple soda can to aircraft, cars, and packaging.
Constellium does all of this with a truly global footprint. The company employs more than 12,000 people worldwide, and it operates 3 R&D centers and 28 production facilities in Europe, North America, and China. The company serves a wide range of industries, including Aerospace and Transportation (A&T), Packaging and Automotive Rolled Products (P&ARP), and Automotive Structures and Industry (AS&I). Major players in these fields, such as Ford, Audi, Airbus, and Boeing, are among Constellium's esteemed clients.
One number will give the scale of Constellium’s operations, and its presence in the global metals market: 8.1 billion. In Euros, that was the firm’s total revenue in 2022. That number came to more than $8.5 billion in US currency, and marked a 17% increase year-over-year.
The company’s first quarter revenues came to 1.96 billion Euros, or US$2.1 billion; while slightly down 1% yeaer-over-year, this figure beat the forecast by 140 million Euros. At the bottom line, the GAAP EPS was reported as 14 Euro cents, missing the forecast by 22 cents.
Of interest to investors, Constellium generated 34 million Euros in cash from operations in the quarter. The firm’s free cash flow came to a loss of 34 million, due to a 68 million Euro spend on property, plant, and equipment – just the sort of capex expected to bring rewards later on. Management is guiding toward 2023 free cash flow in excess 125 million Euros.
In Peterson’s view, this company’s position in a necessary industrial niche, combined with its potential for cash generation, are the key points. He writes, “Constellium has the most upside potential among our downstream coverage, in our view, as we like its combination of end-market exposure, which can both help weather a recession in aerospace, while also providing strong, long-term growth fundamentals in packaging and auto. Strong FCF generation and pricing power, which have proved resilient through the cycle, are another plus. The slight premium to its ~6x historical average is warranted in our view given its solid FCF generation and improved balance sheet, likely enabling the company to initiate shareholder returns in 1H24.”
The JPMorgan analyst uses these comments to support his Overweight (i.e. Buy) rating on the stock, while his US$24 price target implies the stock will gain 55% in the year ahead. (To watch Peterson’s track record, click here)
Overall, this European industrial firm has picked up 5 recent analyst reviews from Wall Street, and those are unanimously positive and give CSTM its Strong Buy consensus rating. The shares are selling for $15.46 and have an average price target of $20.40, for a 32% upside potential in the next 12 months. (See CSTM stock forecast)
Alcoa Corporation (AA)
The next stock JPMorgan's Bill Peterson is betting on is Alcoa, a Pittsburgh-based company that has long been a major player on the world’s aluminum scene. Alcoa produces high-end primary aluminum, fabricated aluminum, and alumina products, and markets and distributes them worldwide. The company works with global customers in a wide range of industries, including such commonplaces as home appliances and cookware to cars and bicycles, but also in aerospace and automobiles.
A number of rising economic headwinds have hurt Alcoa in recent months, including a wicked combination of stubborn inflation, elevated interest rates, and disrupted supply chains that work together to push up the cost of production. The company has pushed back, however, by showing that it can ‘turn green,’ tacking with the social and political winds, while still delivering quality products.
Alcoa is doing that by lowering its carbon footprint compared to traditional aluminum producers. The company’s Sustana product lines – in low-carbon aluminum, low-carbon alumina, and recycled aluminum – feature significant improvements in carbon use. The EcoDura line features a minimum of 50% recycled content, while the EcoLum low-carbon aluminum line’s carbon footprint is 3x better than the industry’s average.
Alcoa has achieved this by starting at the base, in the foundries. The company’s proprietary Elysis smelting technology is the first carbon-free smelting tech in the global aluminum industry. Using this tech, Alcoa can smelt aluminum alloys while emitting only oxygen as a gaseous byproduct.
None of this comes cheap. Alcoa’s 1Q23 results showed a top line of $2.67 billion, skating under the forecast by $90 million and declining 19% year-over-year. The bottom line non-GAAP EPS figure was a net loss, at 23 cents per share, instead of breaking even as Wall Street had expected. At the same time, the company did report an important asset – more than $1.1 billion in liquid assets on hand. With those deep pockets, Alcoa is confident that it can meet an economic storm.
What this means for JPM’s Peterson is clear from his comments on the stock: he is bullish here, and isn’t shy about saying so.
“Our view rests on a positive aluminum price outlook , given supply constraints and the commodity’s strong secular growth trends, which can help fund shareholder returns and future growth initiatives. The company has systematically improved its cash funding related to its pension and has no near-term debt obligations, which positions it well for a recessionary slowdown," Peterson opined.
"Finally," the analyst added, "we believe Alcoa is also well positioned for aluminum’s growing demand in the energy transition in addition to the 'greening' of the commodity itself with the launch of its low-carbon Sustana product line. The outlook also looks promising for its proprietary, zero-carbon Elysis smelting technology, which eliminates all scope 1 emissions associated with aluminum smelting, instead emitting pure oxygen as a byproduct.”
To this end, Peterson sets an Overweight (i.e. Buy) rating on Alcoa shares, along with a $54 price target that suggests ~47% share gain by year’s end.
What does the rest of the Street think? Looking at the consensus breakdown, opinions from other analysts are more spread out. 4 Buys, 3 Holds and 1 Sell add up to a Moderate Buy consensus. In addition, the $48.25 average price target indicates a solid 31% upside potential. (See Alcoa stock forecast)
To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a tool that unites all of TipRanks’ equity insights.
Disclaimer: The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | At the bottom line, the GAAP EPS was reported as 14 Euro cents, missing the forecast by 22 cents. (See CSTM stock forecast) Alcoa Corporation (AA) The next stock JPMorgan's Bill Peterson is betting on is Alcoa, a Pittsburgh-based company that has long been a major player on the world’s aluminum scene. The bottom line non-GAAP EPS figure was a net loss, at 23 cents per share, instead of breaking even as Wall Street had expected. | At the bottom line, the GAAP EPS was reported as 14 Euro cents, missing the forecast by 22 cents. (See CSTM stock forecast) Alcoa Corporation (AA) The next stock JPMorgan's Bill Peterson is betting on is Alcoa, a Pittsburgh-based company that has long been a major player on the world’s aluminum scene. The bottom line non-GAAP EPS figure was a net loss, at 23 cents per share, instead of breaking even as Wall Street had expected. | (See CSTM stock forecast) Alcoa Corporation (AA) The next stock JPMorgan's Bill Peterson is betting on is Alcoa, a Pittsburgh-based company that has long been a major player on the world’s aluminum scene. At the bottom line, the GAAP EPS was reported as 14 Euro cents, missing the forecast by 22 cents. The bottom line non-GAAP EPS figure was a net loss, at 23 cents per share, instead of breaking even as Wall Street had expected. | At the bottom line, the GAAP EPS was reported as 14 Euro cents, missing the forecast by 22 cents. (See CSTM stock forecast) Alcoa Corporation (AA) The next stock JPMorgan's Bill Peterson is betting on is Alcoa, a Pittsburgh-based company that has long been a major player on the world’s aluminum scene. The bottom line non-GAAP EPS figure was a net loss, at 23 cents per share, instead of breaking even as Wall Street had expected. | 6051a2ad-8a21-4ece-9e11-f0172b70aa4f |
505.0 | 2023-04-27 00:00:00 UTC | ‘Load Up,’ Says Goldman Sachs About These 3 Metal Stocks | AA | https://www.nasdaq.com/articles/load-up-says-goldman-sachs-about-these-3-metal-stocks | nan | nan | There's been a lot of buzz lately about the US potentially heading towards a recession this year. That’s a serious issue, and it should prompt investors to start getting creative in portfolio allocation. One idea is to take advantage of growth-oriented sectors – and to start thinking globally for where to find them.
Banking giant Goldman Sachs has done much of the footwork, and the firm’s chief US equity strategist David Kostin has pointed out that China’s pullback from the zero-COVID lockdown policies is likely to ignite a commodities boom. With pundits from the International Monetary Fund and Bloomberg adding their voices – estimating that China will contribute more than 22% of total global economic growth this year – Kostin notes that the metal and mining sectors are best positioned to gain heavily from Chinese demand.
“Metals & Mining stocks stand to benefit from continued China economic growth. China accounts for about half of global demand for industrial metals such as aluminum and copper... US mining companies are not heavily reliant on China as an export market but stand to benefit indirectly from China demand through higher global metals prices," Kostin explained.
Stock analyst Emily Chieng, one of Goldman’s mining industry experts, is running with Kostin’s lead, and picking out metal stocks that stand to gain in a commodities boom. Using TipRanks, the world’s biggest database of analysts and research, we've pulled up the details on three of these stock picks, which are offering up to 60% upside potential.
Cleveland-Cliffs (CLF)
We’ll start with Cleveland-Cliffs, a major producer of flat-rolled steel in the US market, with a diversified portfolio of finished steel products. This company got its start in the mining business, and still operates iron mines in upper Michigan and northern Minnesota, that feed the firm’s steelmaking, metal stamping, tooling production, and tubular component production. In addition to its leading position in the flat-rolled steel segment, Cleveland-Cliffs is also a leader in the production of automotive-grade steel products.
Cleveland-Cliffs benefits greatly from its position as a producer of iron ore, and in addition, the company also mines coking coal, with a mining facility in West Virginia and coking facilities, which turn the raw coal into a vital ingredient for steel-making, in West Virginia, Ohio, and Pennsylvania. The company's steel and steel products have applications in manufacturing and packaging, as well as the appliance, auto, equipment, construction, and energy industries.
While revenues and earnings have decreased in recent quarters, they have still managed to exceed expectations. In the most recent release, for 1Q23, the company had a top line of $5.3 billion, down 11% from the year-ago period – but the Q1 result beat analyst expectations by $90 million. The bottom line non-GAAP EPS of 11 cents was a far cry from the $1.50 reported in 1Q22, but was a penny better than the forecast.
The company reported total steel sales of 4.1 million tons in Q1, for a year-over-year increase of 14%. The increase in volume sold partially offset a reduction in average net selling price.
In a development that bodes well for the company’s balance sheet, the firm reported $1.65 billion in borrowings under its credit facilities during Q1, and made $1.34 billion in payments against that debt. Cleveland-Cliffs has stated a commitment to paying down short-term revolver debt, and to that end, on April 14, the company announced closure on an offering of unsecured guaranteed notes, to the total of $750 million and due in 2030, at 6.75% annually. Net proceeds from this offering will be used to repay revolver credit borrowings.
That forms the background for the comments by Goldman Sachs' Emily Chieng, who says of this company: "We believe fixed-price contract renegotiation at higher levels and line of sight on sequential cost reduction will drive margin improvement for CLF this year versus second half of last year, particularly as natural gas prices sit below our forecasts. Further, we expect volume growth of ~8% versus prior year to be driven by automotive end markets on improving supply chain efficiencies, low dealer inventories, and healthy consumer backlogs. While CLF has made progress on improving its balance sheet last year, we continue to expect a focus on deleveraging and remain focused on share buybacks.”
Chieng complements her comments with a Buy rating on CLF shares, and a $24 price target that implies a one-year gain of ~60%. (To watch Chieng’s track record, click here)
Overall, there are 5 recent analyst reviews on record for this stock, and they include 2 Buys and 3 Holds – for a Moderate Buy consensus rating. The stock is priced at $15 and its $22 average price target implies ~47% upside on the one-year horizon. (See CLF stock forecast)
Freeport-McMoRan (FCX)
Now we’ll take a look at Freeport-McMoRan, a straight-out mining firm with a major position in the production of molybdenum, copper, and gold. The company, from its base in Phoenix, Arizona, has extensive mining operations in both North and South America, and operates one of the world’s largest copper and gold mines, the Grasberg mine in Indonesia’s Papua region. Freeport-McMoRan is the world’s largest producer of molybdenum.
Metals prices have been experiencing a surge due to high demand, with copper showing a particularly notable upward trend in recent years. The metal is up 19.5% from a trough last June, and has gained more than 25% in the last 5 years. Freeport-McMoRan produced 832 million pounds of copper in 1Q23, along with 19 million pounds of molybdenum and 270,000 ounces of gold. The company foresees total consolidated sales this year of 4.1 billion pounds of copper, 79 million pounds of molybdenum, and 1.8 million ounces of gold. In the first quarter of this year, the company realized an average price of $4.11 per pound of copper, $30.32 per pound of molybdenum, and $1,949 per ounce for gold.
Those production and price numbers generated the firm’s total Q1 revenue of $5.39 billion, which was down 18% y/y but came in $140 million better than expected. The non-GAAP EPS of 52 cents was less than half the $1.07 reported in 1Q22, but beat the forecast by 6 cents, or 13%. Freeport-McMoRan is supporting its mining ops with extensive exploration activities; the company’s exploration expense in Q1 was up 29% y/y, to $31 million.
All of this adds up to a clear buying opportunity, in the eyes of Goldman's Chieng, who writes: “We continue to view FCX favorably on consistent operational execution, leverage to copper price upside, and medium-to-long term brownfield growth optionality, and maintain our 12-month price target at $47.”
Chieng’s Buy rating on the stock, and her $47 price target, suggest a 27% upside potential for the year ahead.
Overall, FCX gets a Moderate Buy rating from the analyst consensus, based on 12 recent reviews that include 6 Buys, 5 Holds, and 1 Sell. The shares are priced at $36.87, and their one-year average price target of $46.67 implies a potential gain of ~27%. (See FCX stock forecast)
Alcoa (AA)
Last on our list of Goldman metal/mining picks is a name that may be familiar: Alcoa. Based in Pittsburgh, Pennsylvania, Alcoa is a perennial member of the global ‘top 10’ in aluminum producers, and is known for its production of high-end primary aluminum, fabricated aluminum, and alumina products. Alcoa’s aluminum end products are found in a wide range of products and industries, from automobiles and bicycles to airplanes and spacecraft, and even to such everyday items as home appliances and cookware.
The company has felt pressure from the usual macroeconomic headwinds, in the form of high inflation and interest rates, along with supply chain disruptions, combining to increase the cost of production. At the same time, Alcoa has remained profitable – and has even achieved its industry’s lowest carbon footprint.
The effects of this can be seen in Alcoa’s recent 1Q23 earnings release, and in its outlook for Q2. The company had a Q1 top line of $2.67 billion, down almost 19% year-over-year and missing the forecast by $90 million. The bottom line EPS, in non-GAAP terms, came to a net loss of 23 cents per share – where the Street had expected a break-even. Looking ahead, Alcoa is expecting a $115 million increase in the cost of energy and raw materials to offset a predicted increase in the realized third-party prices of both alumina and aluminum.
In some positive notes, the company’s EBITDA passed $1 billion in 1Q23, setting a company record, and Alcoa finished the quarter with a solid cash balance of $1.1 billion, giving the company deep pockets to withstand a difficult economic situation.
Goldman’s Chieng is bullish on Alcoa, seeing the company as more than capable of expanding its business despite the headwinds. Putting her thoughts in a recent note, she writes: “We continue to view AA positively, driven by (1) ~9% aluminum volume growth in the next two years (driven by production restarts) and (2) the company’s leverage to aluminum price upside which remains the more important driver of the company’s earnings profile; specifically, on our ~$2,700/t assumption for 2023, we estimate that the aluminum segment comprises ~75% of attributable EBITDA.”
Quantifying her stance, Chieng gives Alcoa stock a price target of $54 alongside a Buy rating; this implies an upside of 51% on the one-year time frame.
Even though the Goldman view is bullish here, Wall Street is taking a more cautious approach. Alcoa shares have a Hold rating from the analyst consensus, based on 8 reviews that include 3 Buys, 4 Holds, and 1 Sell. However, the stock’s $35.83 trading price and $47.75 average price target suggest a one-year upside potential of 34%. (See AA stock forecast)
To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a tool that unites all of TipRanks’ equity insights.
Disclaimer: The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The bottom line non-GAAP EPS of 11 cents was a far cry from the $1.50 reported in 1Q22, but was a penny better than the forecast. The non-GAAP EPS of 52 cents was less than half the $1.07 reported in 1Q22, but beat the forecast by 6 cents, or 13%. (See FCX stock forecast) Alcoa (AA) Last on our list of Goldman metal/mining picks is a name that may be familiar: Alcoa. | The bottom line non-GAAP EPS of 11 cents was a far cry from the $1.50 reported in 1Q22, but was a penny better than the forecast. The non-GAAP EPS of 52 cents was less than half the $1.07 reported in 1Q22, but beat the forecast by 6 cents, or 13%. (See FCX stock forecast) Alcoa (AA) Last on our list of Goldman metal/mining picks is a name that may be familiar: Alcoa. | Putting her thoughts in a recent note, she writes: “We continue to view AA positively, driven by (1) ~9% aluminum volume growth in the next two years (driven by production restarts) and (2) the company’s leverage to aluminum price upside which remains the more important driver of the company’s earnings profile; specifically, on our ~$2,700/t assumption for 2023, we estimate that the aluminum segment comprises ~75% of attributable EBITDA.” Quantifying her stance, Chieng gives Alcoa stock a price target of $54 alongside a Buy rating; this implies an upside of 51% on the one-year time frame. The bottom line non-GAAP EPS of 11 cents was a far cry from the $1.50 reported in 1Q22, but was a penny better than the forecast. The non-GAAP EPS of 52 cents was less than half the $1.07 reported in 1Q22, but beat the forecast by 6 cents, or 13%. | Putting her thoughts in a recent note, she writes: “We continue to view AA positively, driven by (1) ~9% aluminum volume growth in the next two years (driven by production restarts) and (2) the company’s leverage to aluminum price upside which remains the more important driver of the company’s earnings profile; specifically, on our ~$2,700/t assumption for 2023, we estimate that the aluminum segment comprises ~75% of attributable EBITDA.” Quantifying her stance, Chieng gives Alcoa stock a price target of $54 alongside a Buy rating; this implies an upside of 51% on the one-year time frame. The bottom line non-GAAP EPS of 11 cents was a far cry from the $1.50 reported in 1Q22, but was a penny better than the forecast. The non-GAAP EPS of 52 cents was less than half the $1.07 reported in 1Q22, but beat the forecast by 6 cents, or 13%. | 08e01d58-6ab2-4462-b944-c1e0c6821bbc |
511.0 | 2023-04-24 00:00:00 UTC | New Strong Sell Stocks for April 24th | AA | https://www.nasdaq.com/articles/new-strong-sell-stocks-for-april-24th | nan | nan | Here are three stocks added to the Zacks Rank #5 (Strong Sell) List today:
Alcoa AA is a global industry leader in bauxite, alumina and aluminum products.The Zacks Consensus Estimate for its current year earnings has been revised 53.7% downward over the last 60 days.
Angel Oak Mortgage REIT Inc. AOMR is a vertically integrated asset manager delivering mortgage and consumer credit solutions.The Zacks Consensus Estimate for its current year earnings has been revised 36.0% downward over the last 60 days.
AdvanSix ASIX is a producer and supplier of Nylon 6 materials. The Zacks Consensus Estimate for its current year earnings has been revised almost 17.4% downward over the last 60 days.
View the entire Zacks Rank #5 List.
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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. | Here are three stocks added to the Zacks Rank #5 (Strong Sell) List today: Alcoa AA is a global industry leader in bauxite, alumina and aluminum products.The Zacks Consensus Estimate for its current year earnings has been revised 53.7% downward over the last 60 days. Click to get this free report Alcoa (AA) : Free Stock Analysis Report AdvanSix (ASIX) : Free Stock Analysis Report Angel Oak Mortgage REIT Inc. (AOMR) : Free Stock Analysis Report To read this article on Zacks.com click here. The Zacks Consensus Estimate for its current year earnings has been revised almost 17.4% downward over the last 60 days. | Here are three stocks added to the Zacks Rank #5 (Strong Sell) List today: Alcoa AA is a global industry leader in bauxite, alumina and aluminum products.The Zacks Consensus Estimate for its current year earnings has been revised 53.7% downward over the last 60 days. Click to get this free report Alcoa (AA) : Free Stock Analysis Report AdvanSix (ASIX) : Free Stock Analysis Report Angel Oak Mortgage REIT Inc. (AOMR) : Free Stock Analysis Report To read this article on Zacks.com click here. Angel Oak Mortgage REIT Inc. AOMR is a vertically integrated asset manager delivering mortgage and consumer credit solutions.The Zacks Consensus Estimate for its current year earnings has been revised 36.0% downward over the last 60 days. | Here are three stocks added to the Zacks Rank #5 (Strong Sell) List today: Alcoa AA is a global industry leader in bauxite, alumina and aluminum products.The Zacks Consensus Estimate for its current year earnings has been revised 53.7% downward over the last 60 days. Click to get this free report Alcoa (AA) : Free Stock Analysis Report AdvanSix (ASIX) : Free Stock Analysis Report Angel Oak Mortgage REIT Inc. (AOMR) : Free Stock Analysis Report To read this article on Zacks.com click here. Angel Oak Mortgage REIT Inc. AOMR is a vertically integrated asset manager delivering mortgage and consumer credit solutions.The Zacks Consensus Estimate for its current year earnings has been revised 36.0% downward over the last 60 days. | Here are three stocks added to the Zacks Rank #5 (Strong Sell) List today: Alcoa AA is a global industry leader in bauxite, alumina and aluminum products.The Zacks Consensus Estimate for its current year earnings has been revised 53.7% downward over the last 60 days. Click to get this free report Alcoa (AA) : Free Stock Analysis Report AdvanSix (ASIX) : Free Stock Analysis Report Angel Oak Mortgage REIT Inc. (AOMR) : Free Stock Analysis Report To read this article on Zacks.com click here. The Zacks Consensus Estimate for its current year earnings has been revised almost 17.4% downward over the last 60 days. | 2349a300-25de-480b-9e7b-b47c6e1fbc03 |
514.0 | 2023-04-21 00:00:00 UTC | Friday Sector Laggards: Metals & Mining, Non-Precious Metals & Non-Metallic Mining Stocks | AA | https://www.nasdaq.com/articles/friday-sector-laggards%3A-metals-mining-non-precious-metals-non-metallic-mining-stocks-0 | nan | nan | In trading on Friday, metals & mining shares were relative laggards, down on the day by about 2.9%. Helping drag down the group were shares of 5E Advanced Materials, off about 12.1% and shares of Gatos Silver down about 6.4% on the day.
Also lagging the market Friday are non-precious metals & non-metallic mining shares, down on the day by about 2.8% as a group, led down by Century Aluminum, trading lower by about 7.1% and Alcoa, trading lower by about 5.9%.
VIDEO: Friday Sector Laggards: Metals & Mining, Non-Precious Metals & Non-Metallic Mining Stocks
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In trading on Friday, metals & mining shares were relative laggards, down on the day by about 2.9%. Also lagging the market Friday are non-precious metals & non-metallic mining shares, down on the day by about 2.8% as a group, led down by Century Aluminum, trading lower by about 7.1% and Alcoa, trading lower by about 5.9%. VIDEO: Friday Sector Laggards: Metals & Mining, Non-Precious Metals & Non-Metallic Mining Stocks The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In trading on Friday, metals & mining shares were relative laggards, down on the day by about 2.9%. Also lagging the market Friday are non-precious metals & non-metallic mining shares, down on the day by about 2.8% as a group, led down by Century Aluminum, trading lower by about 7.1% and Alcoa, trading lower by about 5.9%. VIDEO: Friday Sector Laggards: Metals & Mining, Non-Precious Metals & Non-Metallic Mining Stocks The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In trading on Friday, metals & mining shares were relative laggards, down on the day by about 2.9%. Also lagging the market Friday are non-precious metals & non-metallic mining shares, down on the day by about 2.8% as a group, led down by Century Aluminum, trading lower by about 7.1% and Alcoa, trading lower by about 5.9%. VIDEO: Friday Sector Laggards: Metals & Mining, Non-Precious Metals & Non-Metallic Mining Stocks The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In trading on Friday, metals & mining shares were relative laggards, down on the day by about 2.9%. Helping drag down the group were shares of 5E Advanced Materials, off about 12.1% and shares of Gatos Silver down about 6.4% on the day. Also lagging the market Friday are non-precious metals & non-metallic mining shares, down on the day by about 2.8% as a group, led down by Century Aluminum, trading lower by about 7.1% and Alcoa, trading lower by about 5.9%. | b52870ac-5d19-4a0c-98ee-7227b28c766d |
520.0 | 2023-04-18 00:00:00 UTC | GRAPHIC-Hefty shortages to help buoy aluminium prices this year | AA | https://www.nasdaq.com/articles/graphic-hefty-shortages-to-help-buoy-aluminium-prices-this-year | nan | nan | By Pratima Desai
LONDON, April 18 (Reuters) - Supply disruptions in top producer China due to problems with hydro power mean hefty shortages of aluminium this year, which are likely to offset slow demand growth and help bolster prices.
Smelter shutdowns in Europe due to high energy prices over the past couple of years and consumers there shunning Russian metal after Moscow invaded Ukraine last year make the problem particularly acute in the region.
Despite expectations of tight supplies, aluminium prices CMAL3 on the London Metal Exchange (LME) have come under pressure due to interest rate hikes in the United States and sluggish demand in top consumer China.
At $2,400 a tonne, they have dropped 10% since mid-January.
However, in recent weeks deficits have emerged, as seen in sliding inventories of aluminium used in the transport, construction and packaging industries.
In warehouses monitored by the Shanghai Futures Exchanges, aluminium stocks AL-STX-SGH at 274,347 tonnes have dropped 12% over the last month. In LME approved warehouses, stocks MALSTX-TOTAL have fallen 5% since mid-February.
Chinese production should rise, but at a slower pace than previously forecast due to power rationing and disruptions in provinces such as Yunnan where aluminium is mostly smelted using hydro electricity.
"China's smelters remain under pressure because of hydro power shortages. At the same time, demand should pick up, so exports will likely remain capped," said Bank of America analyst Michael Widmer. "We expect rising deficits going forward."
Widmer expects an aluminium market deficit of 1.53 million tonnes this year and a shortage of 1.93 million tonnes next.
Meanwhile, in Europe lower power prices have helped to reduce production costs, but smelter restarts are limited.
A scramble for supplies has since mid-January fuelled a 20% jump in the duty-paid aluminium premiums buyers in Europe EPDc1 pay in the physical market - above the LME price - to $330 a tonne.
"Physical premiums managed to hold up in Europe where supply constraints remain following the large smelter cuts last year and Russian metal being diverted to Asia," Macquarie analysts said in a note.
"Given more Russian metal is expected to flow to China, there should be fundamental support for physical premiums."
Macquarie forecasts an aluminium market deficit of 670,000 tonnes this year and global consumption at 70.8 million tonnes.
Aluminium market balanceshttps://tmsnrt.rs/3A57NUL
Physical aluminium premiums in Europehttps://tmsnrt.rs/3KMVhhs
Aluminium inventorieshttps://tmsnrt.rs/3A5UV0v
Aluminium pricehttps://tmsnrt.rs/43Ffsqo
(Reporting by Pratima Desai Editing by Mark Potter)
((pratima.desai@thomsonreuters.com; +44 207 513 5681;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | By Pratima Desai LONDON, April 18 (Reuters) - Supply disruptions in top producer China due to problems with hydro power mean hefty shortages of aluminium this year, which are likely to offset slow demand growth and help bolster prices. Despite expectations of tight supplies, aluminium prices CMAL3 on the London Metal Exchange (LME) have come under pressure due to interest rate hikes in the United States and sluggish demand in top consumer China. "Physical premiums managed to hold up in Europe where supply constraints remain following the large smelter cuts last year and Russian metal being diverted to Asia," Macquarie analysts said in a note. | By Pratima Desai LONDON, April 18 (Reuters) - Supply disruptions in top producer China due to problems with hydro power mean hefty shortages of aluminium this year, which are likely to offset slow demand growth and help bolster prices. Despite expectations of tight supplies, aluminium prices CMAL3 on the London Metal Exchange (LME) have come under pressure due to interest rate hikes in the United States and sluggish demand in top consumer China. Widmer expects an aluminium market deficit of 1.53 million tonnes this year and a shortage of 1.93 million tonnes next. | By Pratima Desai LONDON, April 18 (Reuters) - Supply disruptions in top producer China due to problems with hydro power mean hefty shortages of aluminium this year, which are likely to offset slow demand growth and help bolster prices. Widmer expects an aluminium market deficit of 1.53 million tonnes this year and a shortage of 1.93 million tonnes next. Aluminium market balanceshttps://tmsnrt.rs/3A57NUL Physical aluminium premiums in Europehttps://tmsnrt.rs/3KMVhhs Aluminium inventorieshttps://tmsnrt.rs/3A5UV0v Aluminium pricehttps://tmsnrt.rs/43Ffsqo (Reporting by Pratima Desai Editing by Mark Potter) ((pratima.desai@thomsonreuters.com; +44 207 513 5681;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Despite expectations of tight supplies, aluminium prices CMAL3 on the London Metal Exchange (LME) have come under pressure due to interest rate hikes in the United States and sluggish demand in top consumer China. "China's smelters remain under pressure because of hydro power shortages. "Physical premiums managed to hold up in Europe where supply constraints remain following the large smelter cuts last year and Russian metal being diverted to Asia," Macquarie analysts said in a note. | 55e88b9a-3dd5-43f8-ad4b-2ffbf777697a |
540.0 | 2023-03-16 00:00:00 UTC | METALS-London copper rebounds as Credit Suisse gets lifeline, China demand | AA | https://www.nasdaq.com/articles/metals-london-copper-rebounds-as-credit-suisse-gets-lifeline-china-demand | nan | nan | Updates prices, adds quotes
March 16 (Reuters) - London copper prices bounced back on Thursday from a more than two-month low hit in the previous session, as authorities pledged liquidity support to Swiss bank Credit Suisse Group and consumption improved in top consumer China.
Credit Swiss CSGN.S, whose shares plunged 30% on Wednesday to a record low amid concerns of its financial strength, planned to borrow from the Swiss National Bank to boost liquidity, shortly after Swiss authorities pledged support to the lender.
Three-month copper on the London Metal Exchange CMCU3 rose 0.9% to $8,581.50 a tonne by 0512 GMT. The contract in the previous session hit $8,489.50 a tonne, its lowest since Jan. 6, on Credit Suisse's rout.
A sign of demand picking up in top consumer China also supported prices, with Yangshan copper premium SMM-CUYP-CN - which reflects demand for imported copper into China - rose to $35 a tonne on Wednesday, its highest since Jan. 9.
"(Copper) looks cheap (and was) unduly sold off," said a metals trader, adding that physical consumers were buying when prices fell, but trading volume was tepid on risk aversion amid uncertainty in the global banking sector.
LME aluminium CMAL3 rose 0.6% to $2,291 a tonne, zinc CMZN3 eased 0.5% to $2,853 a tonne, lead CMPB3 advanced 0.5% to $2,080 a tonne while tin CMSN3 lost 2.2% to $21,960 a tonne.
The premium of SHFE first-month aluminium over the three-month contract was at 25 yuan a tonne, the first premium since Jan. 5, indicating tightening nearby supplies.
The Australian unit of U.S. aluminium producer Alcoa Corp AA.N announced a production cut at its Portland smelter in Victoria to about 75% of its total capacity of 358,000 metric tonnes per year, citing instability and production challenges.
The most-traded April copper contract on the Shanghai Futures Exchange SCFcv1 fell 2.7% to 66,950 yuan ($9,700.09) a tonne, tracking overnight losses in London and dropping to as low as 66,590 yuan a tonne, its lowest since Jan. 10.
SHFE aluminium SAFcv1 declined 1.1% to 18,150 yuan a tonne, nickel SNIcv1 fell 2.9% to 172,850 yuan a tonne, zinc SZNcv1 shed 2.6% to 22,285 yuan a tonne and tin SSNcv1 tumbled as much as 4.5% to 178,760 yuan a tonne, its lowest since November last year.
For the top stories in metals and other news, click
TOP/MTL or MET/L
($1 = 6.9020 yuan)
(Reporting by Mai Nguyen in Hanoi; Editing by Rashmi Aich)
((mai.nguyen@thomsonreuters.com; Reuters Messaging: mai.nguyen.thomsonreuters.com@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The Australian unit of U.S. aluminium producer Alcoa Corp AA.N announced a production cut at its Portland smelter in Victoria to about 75% of its total capacity of 358,000 metric tonnes per year, citing instability and production challenges. Updates prices, adds quotes March 16 (Reuters) - London copper prices bounced back on Thursday from a more than two-month low hit in the previous session, as authorities pledged liquidity support to Swiss bank Credit Suisse Group and consumption improved in top consumer China. "(Copper) looks cheap (and was) unduly sold off," said a metals trader, adding that physical consumers were buying when prices fell, but trading volume was tepid on risk aversion amid uncertainty in the global banking sector. | The Australian unit of U.S. aluminium producer Alcoa Corp AA.N announced a production cut at its Portland smelter in Victoria to about 75% of its total capacity of 358,000 metric tonnes per year, citing instability and production challenges. Updates prices, adds quotes March 16 (Reuters) - London copper prices bounced back on Thursday from a more than two-month low hit in the previous session, as authorities pledged liquidity support to Swiss bank Credit Suisse Group and consumption improved in top consumer China. A sign of demand picking up in top consumer China also supported prices, with Yangshan copper premium SMM-CUYP-CN - which reflects demand for imported copper into China - rose to $35 a tonne on Wednesday, its highest since Jan. 9. | The Australian unit of U.S. aluminium producer Alcoa Corp AA.N announced a production cut at its Portland smelter in Victoria to about 75% of its total capacity of 358,000 metric tonnes per year, citing instability and production challenges. LME aluminium CMAL3 rose 0.6% to $2,291 a tonne, zinc CMZN3 eased 0.5% to $2,853 a tonne, lead CMPB3 advanced 0.5% to $2,080 a tonne while tin CMSN3 lost 2.2% to $21,960 a tonne. The most-traded April copper contract on the Shanghai Futures Exchange SCFcv1 fell 2.7% to 66,950 yuan ($9,700.09) a tonne, tracking overnight losses in London and dropping to as low as 66,590 yuan a tonne, its lowest since Jan. 10. | The Australian unit of U.S. aluminium producer Alcoa Corp AA.N announced a production cut at its Portland smelter in Victoria to about 75% of its total capacity of 358,000 metric tonnes per year, citing instability and production challenges. Updates prices, adds quotes March 16 (Reuters) - London copper prices bounced back on Thursday from a more than two-month low hit in the previous session, as authorities pledged liquidity support to Swiss bank Credit Suisse Group and consumption improved in top consumer China. The most-traded April copper contract on the Shanghai Futures Exchange SCFcv1 fell 2.7% to 66,950 yuan ($9,700.09) a tonne, tracking overnight losses in London and dropping to as low as 66,590 yuan a tonne, its lowest since Jan. 10. | 52c191a1-b9ab-4bde-a3a6-aac63eb40f38 |
542.0 | 2023-03-14 00:00:00 UTC | New Strong Sell Stocks for March 14th | AA | https://www.nasdaq.com/articles/new-strong-sell-stocks-for-march-14th-0 | nan | nan | Here are three stocks added to the Zacks Rank #5 (Strong Sell) List today:
CNX Resources Corporation CNX is a natural gas exploration and development company. The Zacks Consensus Estimate for its current year earnings has been revised 24.8% downward over the last 60 days.
CECO Environmental Corp. CECO provides solutions in industrial air quality, water treatment, and energy transition. The Zacks Consensus Estimate for its current year earnings has been revised 18.5% downward over the last 60 days.
Alcoa Corporation AA produces and sells bauxite, alumina, and aluminum products. The Zacks Consensus Estimate for its current year earnings has been revised 10% downward over the last 60 days.
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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 Corporation AA produces and sells bauxite, alumina, and aluminum products. Click to get this free report Alcoa (AA) : Free Stock Analysis Report CNX Resources Corporation. This technology is on the verge of a massive breakthrough, one that could make hydrogen a major source of America's power. | Click to get this free report Alcoa (AA) : Free Stock Analysis Report CNX Resources Corporation. Alcoa Corporation AA produces and sells bauxite, alumina, and aluminum products. Here are three stocks added to the Zacks Rank #5 (Strong Sell) List today: CNX Resources Corporation CNX is a natural gas exploration and development company. | Click to get this free report Alcoa (AA) : Free Stock Analysis Report CNX Resources Corporation. Alcoa Corporation AA produces and sells bauxite, alumina, and aluminum products. Here are three stocks added to the Zacks Rank #5 (Strong Sell) List today: CNX Resources Corporation CNX is a natural gas exploration and development company. | Click to get this free report Alcoa (AA) : Free Stock Analysis Report CNX Resources Corporation. Alcoa Corporation AA produces and sells bauxite, alumina, and aluminum products. Today, you can download 7 Best Stocks for the Next 30 Days. | 0eb6fcc9-08d4-4090-9a13-833440927fe1 |
545.0 | 2023-03-14 00:00:00 UTC | Alcoa Australia to cut Portland aluminium smelter output to 75% capacity | AA | https://www.nasdaq.com/articles/alcoa-australia-to-cut-portland-aluminium-smelter-output-to-75-capacity | nan | nan | Updates with detail on output cut, background
March 15 (Reuters) - The Australian unit of U.S. aluminium producer Alcoa Corp AA.N said on Wednesday output at its Portland smelter in Victoria would be reduced to about 75% of its total capacity of 358,000 metric tonnes per year, citing instability and production challenges.
Australia's Alumina Ltd AWC.AX owns a 40% stake in Alcoa Australia, which holds a 55% stake in the Portland Aluminium joint venture.
The smelter, which was previously operating at about 95% of its total capacity, is contending with uncertainty and hurdles related to the production of rodded anodes necessary to transport electricity into the smelting pots, Alcoa Australia said in a statement.
"Our teams are focused on safely taking the production offline and working to restore stability across the facility," Rob Bear, vice president for operations at Alcoa's domestic business, said.
The cut in production will begin immediately, it said, without setting out a timeline on when the smelter would return to full capacity.
Alcoa's local unit had, earlier this year, flagged a 30% production cut at its partially owned Kwinana alumina refinery due to a gas supply shortfall.
(Reporting by Rishav Chatterjee in Bengaluru; Editing by Dhanya Ann Thoppil)
((Rishav.Chatterjee@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Updates with detail on output cut, background March 15 (Reuters) - The Australian unit of U.S. aluminium producer Alcoa Corp AA.N said on Wednesday output at its Portland smelter in Victoria would be reduced to about 75% of its total capacity of 358,000 metric tonnes per year, citing instability and production challenges. The smelter, which was previously operating at about 95% of its total capacity, is contending with uncertainty and hurdles related to the production of rodded anodes necessary to transport electricity into the smelting pots, Alcoa Australia said in a statement. "Our teams are focused on safely taking the production offline and working to restore stability across the facility," Rob Bear, vice president for operations at Alcoa's domestic business, said. | Updates with detail on output cut, background March 15 (Reuters) - The Australian unit of U.S. aluminium producer Alcoa Corp AA.N said on Wednesday output at its Portland smelter in Victoria would be reduced to about 75% of its total capacity of 358,000 metric tonnes per year, citing instability and production challenges. Australia's Alumina Ltd AWC.AX owns a 40% stake in Alcoa Australia, which holds a 55% stake in the Portland Aluminium joint venture. Alcoa's local unit had, earlier this year, flagged a 30% production cut at its partially owned Kwinana alumina refinery due to a gas supply shortfall. | Updates with detail on output cut, background March 15 (Reuters) - The Australian unit of U.S. aluminium producer Alcoa Corp AA.N said on Wednesday output at its Portland smelter in Victoria would be reduced to about 75% of its total capacity of 358,000 metric tonnes per year, citing instability and production challenges. The smelter, which was previously operating at about 95% of its total capacity, is contending with uncertainty and hurdles related to the production of rodded anodes necessary to transport electricity into the smelting pots, Alcoa Australia said in a statement. (Reporting by Rishav Chatterjee in Bengaluru; Editing by Dhanya Ann Thoppil) ((Rishav.Chatterjee@thomsonreuters.com;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Updates with detail on output cut, background March 15 (Reuters) - The Australian unit of U.S. aluminium producer Alcoa Corp AA.N said on Wednesday output at its Portland smelter in Victoria would be reduced to about 75% of its total capacity of 358,000 metric tonnes per year, citing instability and production challenges. Australia's Alumina Ltd AWC.AX owns a 40% stake in Alcoa Australia, which holds a 55% stake in the Portland Aluminium joint venture. The smelter, which was previously operating at about 95% of its total capacity, is contending with uncertainty and hurdles related to the production of rodded anodes necessary to transport electricity into the smelting pots, Alcoa Australia said in a statement. | 11bb7386-3505-4103-abde-027265f7a00e |
551.0 | 2023-03-06 00:00:00 UTC | New Strong Sell Stocks for March 6th | AA | https://www.nasdaq.com/articles/new-strong-sell-stocks-for-march-6th | nan | nan | Here are three stocks added to the Zacks Rank #5 (Strong Sell) List today:
Battalion Oil BATL is an energy company which is engaged in the acquisition, production, exploration and development of onshore oil and natural gas properties principally in the United States. The Zacks Consensus Estimate for its current year earnings has been revised 43.3% downward over the last 60 days.
Alcoa AA is a global industry leader in bauxite, alumina and aluminum products. The Zacks Consensus Estimate for its current year earnings has been revised 10.7% downward over the last 60 days.
CarMax KMX is the largest retailer of used vehicles in the United States. The Zacks Consensus Estimate for its current year earnings has been revised almost 6.6% downward over the last 60 days.
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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 AA is a global industry leader in bauxite, alumina and aluminum products. Click to get this free report Alcoa (AA) : Free Stock Analysis Report CarMax, Inc. (KMX) : Free Stock Analysis Report Battalion Oil Corporation (BATL) : Free Stock Analysis Report To read this article on Zacks.com click here. Here are three stocks added to the Zacks Rank #5 (Strong Sell) List today: Battalion Oil BATL is an energy company which is engaged in the acquisition, production, exploration and development of onshore oil and natural gas properties principally in the United States. | Click to get this free report Alcoa (AA) : Free Stock Analysis Report CarMax, Inc. (KMX) : Free Stock Analysis Report Battalion Oil Corporation (BATL) : Free Stock Analysis Report To read this article on Zacks.com click here. Alcoa AA is a global industry leader in bauxite, alumina and aluminum products. The Zacks Consensus Estimate for its current year earnings has been revised 43.3% downward over the last 60 days. | Click to get this free report Alcoa (AA) : Free Stock Analysis Report CarMax, Inc. (KMX) : Free Stock Analysis Report Battalion Oil Corporation (BATL) : Free Stock Analysis Report To read this article on Zacks.com click here. Alcoa AA is a global industry leader in bauxite, alumina and aluminum products. Here are three stocks added to the Zacks Rank #5 (Strong Sell) List today: Battalion Oil BATL is an energy company which is engaged in the acquisition, production, exploration and development of onshore oil and natural gas properties principally in the United States. | Alcoa AA is a global industry leader in bauxite, alumina and aluminum products. Click to get this free report Alcoa (AA) : Free Stock Analysis Report CarMax, Inc. (KMX) : Free Stock Analysis Report Battalion Oil Corporation (BATL) : Free Stock Analysis Report To read this article on Zacks.com click here. Here are three stocks added to the Zacks Rank #5 (Strong Sell) List today: Battalion Oil BATL is an energy company which is engaged in the acquisition, production, exploration and development of onshore oil and natural gas properties principally in the United States. | 9cf2419f-cc88-492f-b041-187dcba3de1a |
555.0 | 2023-02-24 00:00:00 UTC | U.S. to impose 200% tariff on aluminum from Russia -White House | AA | https://www.nasdaq.com/articles/u.s.-to-impose-200-tariff-on-aluminum-from-russia-white-house | nan | nan | Updates prices, adds analysts comment
WASHINGTON, Feb 24 (Reuters) - The United States will impose a 200% tariff on aluminum and derivatives produced in Russia from March 10, the White House said on Friday, effectively a ban as it announced sanctions on the anniversary of Russia's invasion of Ukraine.
The United States will also apply a 200% tariff on aluminum imports of primary aluminum produced in Russia from April 10.
"President Biden has made it a priority to mitigate the effects of Russia’s invasion on domestic industries critical to our national security, and this includes the American aluminum industry," the U.S. Department of Commerce said.
"In imposing these tariffs, we are denying Russia an important market for its aluminum while taking a stand for America’s workers."
Russian aluminum is produced by Rusal RUAL.MM, 0486.HK which accounts for about 6% of global supplies.
"Alcoa welcomes the imposition of tariffs by the U.S. government on Russian aluminum," the U.S. aluminum producer said. "We continue to advocate for sanctions as the most effective means for the government to take action against Russia and level the playing field for U.S. producers."
Neither Russian metal nor the companies that produce it have been targeted by sanctions imposed on some Russian companies in response to Russia sending troops into Ukraine last year.
In 2018, however, U.S. Treasury Department sanctions on Rusal froze the bulk of the company's exports, paralyzed its supply chain and scared off customers.
The sanctions also fueled a jump in aluminum prices on the London Metal Exchange.
LME prices on Friday shrugged of news of the tariffs because they don't stop consumers and traders in other countries frombuying Russian aluminium and supplies are for now ample, metals analysts said.
Prices CMAL3 of aluminum, vital for transport, packaging and construction industries, were down 2.5% at $2,337 a tonne at 1652 GMT. Earlier they touched $2,321.5, the lowest since Jan 9.
The tariffs are unlikely to significantly tighten the aluminium market in the United States as the country imports only a small percentage of its aluminium from Russia.
U.S. imports of unwrought aluminum and alloys from Russia amounted to 191,809 tonnes, or roughly 4.4% of the more than 4.4 million tonne total last year, compared with 8.9% in 2018 and 14.6% in 2017, according to Trade Data Monitor.
Rusal declined to comment when contacted by Reuters.
(Reporting by Doina Chiacu in Washington, Polina Devitt, Anastasia Lyrchikova and Pratima Desai; Editing by Caitlin Webber and Louise Heavens)
((doina.chiacu@thomsonreuters.com; 202-898-8322;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | "We continue to advocate for sanctions as the most effective means for the government to take action against Russia and level the playing field for U.S. In 2018, however, U.S. Treasury Department sanctions on Rusal froze the bulk of the company's exports, paralyzed its supply chain and scared off customers. LME prices on Friday shrugged of news of the tariffs because they don't stop consumers and traders in other countries frombuying Russian aluminium and supplies are for now ample, metals analysts said. | Updates prices, adds analysts comment WASHINGTON, Feb 24 (Reuters) - The United States will impose a 200% tariff on aluminum and derivatives produced in Russia from March 10, the White House said on Friday, effectively a ban as it announced sanctions on the anniversary of Russia's invasion of Ukraine. The United States will also apply a 200% tariff on aluminum imports of primary aluminum produced in Russia from April 10. "Alcoa welcomes the imposition of tariffs by the U.S. government on Russian aluminum," the U.S. aluminum producer said. | Updates prices, adds analysts comment WASHINGTON, Feb 24 (Reuters) - The United States will impose a 200% tariff on aluminum and derivatives produced in Russia from March 10, the White House said on Friday, effectively a ban as it announced sanctions on the anniversary of Russia's invasion of Ukraine. The United States will also apply a 200% tariff on aluminum imports of primary aluminum produced in Russia from April 10. "Alcoa welcomes the imposition of tariffs by the U.S. government on Russian aluminum," the U.S. aluminum producer said. | Updates prices, adds analysts comment WASHINGTON, Feb 24 (Reuters) - The United States will impose a 200% tariff on aluminum and derivatives produced in Russia from March 10, the White House said on Friday, effectively a ban as it announced sanctions on the anniversary of Russia's invasion of Ukraine. Russian aluminum is produced by Rusal RUAL.MM, 0486.HK which accounts for about 6% of global supplies. Prices CMAL3 of aluminum, vital for transport, packaging and construction industries, were down 2.5% at $2,337 a tonne at 1652 GMT. | 9ddfcea5-cb53-4b0b-ae24-96168a3016b5 |
566.0 | 2023-01-23 00:00:00 UTC | COLUMN-Power problems rein in global aluminium output growth: Andy Home | AA | https://www.nasdaq.com/articles/column-power-problems-rein-in-global-aluminium-output-growth%3A-andy-home-0 | nan | nan | By Andy Home
LONDON, Jan 23 (Reuters) - Global aluminium production rose by a marginal 2.0% last year, a rate of growth that was down from 2.7% in 2021 and the slowest since 2019, according to the International Aluminium Institute (IAI).
Output barely rose at all over the second half of the year. Annualised production of 69 million tonnes in December was just 231,000 tonnes higher than June's global run-rate.
Europe's energy crisis has taken a heavy toll on a notoriously power-hungry sector. Regional production fell by 12.5% last year, a major factor behind the 0.9% decline in output outside of China.
China, the world's dominant producer of primary aluminium, registered 4.0% output growth for the second consecutive year.
But it too has been grappling with power problems, most recently in the hydro-rich provinces of Yunnan and Sichuan. The country's annualised production peaked in August 2022 at 41.46 million tonnes, since when run-rates have fallen by 600,000 tonnes.
Aluminium's energy paradox is coming into ever sharper focus. Production of a metal that is critical for building a greener power system is itself increasingly vulnerable to fluctuating power availability.
EUROPE POWERS DOWN
Western European aluminium output was running at an annualised 2.73 million tonnes in December, down by 540,000 tonnes on December 2021 and the lowest production rate this century.
Russia's invasion of Ukraine and the resulting surge in power prices caused multiple smelter closures and curtailments last year.
Europe's energy crunch has now passed its peak. German baseload power for 2024 delivery TRDEBYZ4 has fallen from 470 euros/MWh in August to a current 189.
Some European aluminium capacity is returning. The Dunkerque plant, one of the region's largest with capacity of 285,000 tonnes per year, is reversing the 20% cuts made in the fourth quarter of 2022.
For some, though, it's probably too late.
Slovakia's sole smelter with capacity of 175,000 tonnes per year has closed all primary operations after 70 years of operation.
The Podgorica smelter in Montenegro closed the last 60,000 tonnes of primary capacity at the end of 2021.
Interestingly, both plants are counted in the IAI's Eastern Europe and Russia category. So too are smelters in Romania and Slovenia, both of which have drastically curtailed operations over the last year.
Yet regional production was down by only 1.4% last year, a counterintuitive outcome unless the closures were offset by higher output in Russia.
This is possible given Rusal was planning to fire up its new Taishet plant last year, although there has been no recent update on the 428,500-tonne per year project.
STOP START IN CHINA
China's production of 40.39 million tonnes of aluminium last year was a new annual record but the headline masks considerable chop and change in the country's base smelter network.
New capacity was brought on stream and mothballed capacity restarted in some provinces, while in others power restrictions translated into mandatory curtailments for smelter operators.
The balance flipped from fast growth in the first half of 2022 to sliding output over the closing months.
This year has seen no repeat of the blanket restrictions imposed during the 2021 winter energy crunch but drought in the southwest of the country is weighing on smelter operating rates. Some two million tonnes of capacity in Yunnan, Sichuan and Guizhou was off-line at the end of 2022, according to Shanghai Metal Market.
It's unlikely to return until the second quarter, when the rainy season should restore depleted reservoir levels in the region's hydro power system.
There is still plenty of room for production growth in China with the government capacity cap of 45 million tonnes not yet reached.
However, the last two years have shown that it is increasingly rare for China to run at its existing capacity for any prolonged period of time before power restrictions of one sort or another are imposed by provincial governments looking to balance energy loads.
GREEN PRESSURE
It's noticeable that the drought problems in China's southwest haven't deterred aluminium producers from transferring capacity there from coal-powered provinces in the quest for metal with a lower carbon footprint.
The pressure to go green is also becoming a key factor in smelter restarts in the rest of the world.
Latin America was the fastest-growing aluminium production region last year with output up 10.7% year on year. A key driver was the restart of the Alumar smelter in Brazil based on a switch to renewable power. Ramp-up is taking a bit longer than planned, according to 40% owner South32 S32.AX, which is not surprising since the plant last operated seven years ago.
Alcoa AA.N, which owns the balancing 60% stake in Alumar, is also hoping to restart its San Ciprian smelter in Spain after a switch to renewable energy. It has secured two wind-power deals which would cover 75% of energy needs for the 228,000-tonne per year plant.
Even Slovalco might be resuscitated by Norwegian owner Hydro NHY.OL if the Slovak government can implement the European Union's framework on carbon compensations.
POWER PARADOX
Yet the rush for renewable power merely accentuates the core aluminium paradox. As ever more smelters switch to green energy sources, global aluminium production is ever more dependent on seasonally variable power availability.
Moreover, seasonality itself is changing as global warming brings both longer droughts and hotter summer heat waves, which combine to lift energy usage while depressing power generation.
It has become clear in the last few years that China's aluminium smelters, along with other power-intensive industries, are first in line for mandated curtailments when a province is trying to balance its grid.
Such regional adjustments are now part and parcel of the global aluminium production landscape but they have injected a new degree of volatility into aluminium's previously slow-changing supply side.
They also raise the possibility that China's seemingly unstoppable aluminium juggernaut has run out of road even before reaching the government's capacity cap.
The opinions expressed here are those of the author, a columnist for Reuters.
Western European aluminium smelter production takes an energy hit in 2022https://tmsnrt.rs/3D3qfPh
China's aluminium output peaked in August 2022https://tmsnrt.rs/3R0jm79
(Editing by Kirsten Donovan)
((andy.home@thomsonreuters.com, 44-207-542-4412 and on Twitter https://twitter.com/AndyHomeMetals))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Alcoa AA.N, which owns the balancing 60% stake in Alumar, is also hoping to restart its San Ciprian smelter in Spain after a switch to renewable energy. However, the last two years have shown that it is increasingly rare for China to run at its existing capacity for any prolonged period of time before power restrictions of one sort or another are imposed by provincial governments looking to balance energy loads. It's noticeable that the drought problems in China's southwest haven't deterred aluminium producers from transferring capacity there from coal-powered provinces in the quest for metal with a lower carbon footprint. | Alcoa AA.N, which owns the balancing 60% stake in Alumar, is also hoping to restart its San Ciprian smelter in Spain after a switch to renewable energy. The country's annualised production peaked in August 2022 at 41.46 million tonnes, since when run-rates have fallen by 600,000 tonnes. Western European aluminium output was running at an annualised 2.73 million tonnes in December, down by 540,000 tonnes on December 2021 and the lowest production rate this century. | Alcoa AA.N, which owns the balancing 60% stake in Alumar, is also hoping to restart its San Ciprian smelter in Spain after a switch to renewable energy. Slovakia's sole smelter with capacity of 175,000 tonnes per year has closed all primary operations after 70 years of operation. Latin America was the fastest-growing aluminium production region last year with output up 10.7% year on year. | Alcoa AA.N, which owns the balancing 60% stake in Alumar, is also hoping to restart its San Ciprian smelter in Spain after a switch to renewable energy. The country's annualised production peaked in August 2022 at 41.46 million tonnes, since when run-rates have fallen by 600,000 tonnes. Latin America was the fastest-growing aluminium production region last year with output up 10.7% year on year. | 640d432e-a5f6-49ea-a23e-d21bbdaf4c47 |
569.0 | 2023-01-19 00:00:00 UTC | These 2 Stocks Are Yanking the Market Lower Thursday | AA | https://www.nasdaq.com/articles/these-2-stocks-are-yanking-the-market-lower-thursday | nan | nan | Those who hoped that 2023 would be a nice straight-up recovery from last year's bear market felt disappointed Thursday morning, as Wall Street saw stock market indexes give up some more ground after Wednesday's steep drop. Market participants cited concerns about earnings season, uncertainty about the Federal Reserve's next move, and brewing trouble in Washington over the statutory federal debt ceiling, and stock index futures were down almost 1% before the regular trading session started.
Investors have watched the latest financial reports from key companies to get a reading on the current state of the economy from the perspective of both consumers and businesses. The releases from Discover Financial Services (NYSE: DFS) and Alcoa (NYSE: AA) helped shed some light on how various parts of the economy are faring, and market participants did their best to draw useful conclusions that they can put to work in evaluating other industries as well.
Discover signals potential consumer weakness
Shares of Discover Financial Services were down 8% in premarket trading Thursday morning. The diversified financial company reported its fourth-quarter financial results, and shareholders saw a mix of strong asset growth but concerning trends among its consumer credit customer base.
Discover's financial results were reasonably solid. Net interest income jumped 24% year over year to $3.07 billion, and noninterest income vaulted higher by nearly half from year-ago levels. However, a big jump in Discover's provision for credit losses weighed on the bottom line, with net income falling 3% to $1.03 billion even as earnings per share rose 4% to $3.77.
Discover boasted record loan growth of 20% to $112 billion, with notable gains in both credit card balances and personal loans. Higher interest rates helped support wider net interest margins, also supporting the consumer finance company's results.
However, what spooked shareholders was news that Discover's charge-off rate jumped from 1.37% in the year-ago period to 2.13%, with a big spike higher in charge-offs on the credit card side just in the past three months. Delinquency rates saw similar gains, raising questions about the power of consumers to help the economy avoid a recession. Despite ongoing stock buybacks from Discover, investors aren't happy to see customers potentially having problems paying their card bills and loan balances, and that has the potential to continue into 2023.
Alcoa suffers sales declines, losses
Elsewhere, shares of Alcoa were down 6% in premarket trading. The aluminum company's fourth-quarter financial results showed ongoing headwinds from challenging market conditions and suggested those obstacles could remain in place for 2023.
Alcoa's financial results were weak. Revenue fell 20% year over year to $2.66 billion, although the aluminum company did manage to post a slightly higher sales figure for the full 2022 year than it did in 2021. Alcoa lost $123 million on an adjusted basis, working out to $0.70 per share and widening dramatically from its performance in the third quarter of 2022. Full-year adjusted earnings fell 29% to $4.83 per share.
High raw materials and energy costs weighed on Alcoa's results, particularly in conjunction with lower pricing in raw alumina and the broader aluminum markets in the fourth quarter. The aluminum specialist anticipates continuing to boost corporate efficiency in an effort to maintain cost discipline.
However, Alcoa anticipates that alumina shipments in 2023 could come in at 12.7 million to 12.9 million metric tons, down half a million tons from the past year. Flat aluminum shipments and rising costs could put continuing pressure on earnings. That doesn't bode well for Alcoa's near-term recovery hopes, and it signals that industrial buyers of lightweight metals might not be as healthy as investors would like.
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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 releases from Discover Financial Services (NYSE: DFS) and Alcoa (NYSE: AA) helped shed some light on how various parts of the economy are faring, and market participants did their best to draw useful conclusions that they can put to work in evaluating other industries as well. Investors have watched the latest financial reports from key companies to get a reading on the current state of the economy from the perspective of both consumers and businesses. However, a big jump in Discover's provision for credit losses weighed on the bottom line, with net income falling 3% to $1.03 billion even as earnings per share rose 4% to $3.77. | The releases from Discover Financial Services (NYSE: DFS) and Alcoa (NYSE: AA) helped shed some light on how various parts of the economy are faring, and market participants did their best to draw useful conclusions that they can put to work in evaluating other industries as well. Discover signals potential consumer weakness Shares of Discover Financial Services were down 8% in premarket trading Thursday morning. Net interest income jumped 24% year over year to $3.07 billion, and noninterest income vaulted higher by nearly half from year-ago levels. | The releases from Discover Financial Services (NYSE: DFS) and Alcoa (NYSE: AA) helped shed some light on how various parts of the economy are faring, and market participants did their best to draw useful conclusions that they can put to work in evaluating other industries as well. Discover signals potential consumer weakness Shares of Discover Financial Services were down 8% in premarket trading Thursday morning. See the 10 stocks *Stock Advisor returns as of January 9, 2023 Discover Financial Services is an advertising partner of The Ascent, a Motley Fool company. | The releases from Discover Financial Services (NYSE: DFS) and Alcoa (NYSE: AA) helped shed some light on how various parts of the economy are faring, and market participants did their best to draw useful conclusions that they can put to work in evaluating other industries as well. The diversified financial company reported its fourth-quarter financial results, and shareholders saw a mix of strong asset growth but concerning trends among its consumer credit customer base. Net interest income jumped 24% year over year to $3.07 billion, and noninterest income vaulted higher by nearly half from year-ago levels. | 6ce1eec7-71a0-4fb5-acaf-5193a5c85d1e |
583.0 | 2023-01-10 00:00:00 UTC | Alcoa Names William Oplinger COO, Molly Beerman CFO, Effective February 1 | AA | https://www.nasdaq.com/articles/alcoa-names-william-oplinger-coo-molly-beerman-cfo-effective-february-1 | nan | nan | (RTTNews) - Alcoa Corp. (AA), a bauxite, alumina and aluminum company, announced Tuesdsay the appointment of new Chief Operations Officer and Chief Financial Officer, as part of a restructuring to focus on its strategies to operate as a low-cost, margin-focused, sustainable producer. The changes are effective February 1.
The company appointed William Oplinger, currently Executive Vice President or EVP and Chief Financial Officer, as EVP and Chief Operations Officer. Oplinger has served as Alcoa Corp.'s CFO since November 2016, when the company completed a legal and structural separation from Alcoa Inc.
Further, the company appointed Molly Beerman, currently Senior Vice President and Controller, as EVP and Chief Financial Officer. She will also be the executive member to oversee Alcoa's Information Technology and Automation Solutions team.
The company also announced that Renato Bacchi, currently EVP and Chief Strategy Officer, will take on added responsibilities to become EVP, Chief Strategy & Innovation Officer, including overseeing Alcoa's research and development technologies.
As part of the restructuring, John Slaven, current EVP and Chief Operations Officer, and Benjamin Kahrs, EVP and Chief Innovation Officer, will leave the company.
Alcoa President and CEO Roy Harvey said, "The plan is fully aligned with our Company's purpose and vision to reinvent the aluminum industry, and it will integrate the corporate strategy team with our innovative and breakthrough technologies."
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (RTTNews) - Alcoa Corp. (AA), a bauxite, alumina and aluminum company, announced Tuesdsay the appointment of new Chief Operations Officer and Chief Financial Officer, as part of a restructuring to focus on its strategies to operate as a low-cost, margin-focused, sustainable producer. Oplinger has served as Alcoa Corp.'s CFO since November 2016, when the company completed a legal and structural separation from Alcoa Inc. Further, the company appointed Molly Beerman, currently Senior Vice President and Controller, as EVP and Chief Financial Officer. Alcoa President and CEO Roy Harvey said, "The plan is fully aligned with our Company's purpose and vision to reinvent the aluminum industry, and it will integrate the corporate strategy team with our innovative and breakthrough technologies." | (RTTNews) - Alcoa Corp. (AA), a bauxite, alumina and aluminum company, announced Tuesdsay the appointment of new Chief Operations Officer and Chief Financial Officer, as part of a restructuring to focus on its strategies to operate as a low-cost, margin-focused, sustainable producer. The company appointed William Oplinger, currently Executive Vice President or EVP and Chief Financial Officer, as EVP and Chief Operations Officer. The company also announced that Renato Bacchi, currently EVP and Chief Strategy Officer, will take on added responsibilities to become EVP, Chief Strategy & Innovation Officer, including overseeing Alcoa's research and development technologies. | (RTTNews) - Alcoa Corp. (AA), a bauxite, alumina and aluminum company, announced Tuesdsay the appointment of new Chief Operations Officer and Chief Financial Officer, as part of a restructuring to focus on its strategies to operate as a low-cost, margin-focused, sustainable producer. The company appointed William Oplinger, currently Executive Vice President or EVP and Chief Financial Officer, as EVP and Chief Operations Officer. The company also announced that Renato Bacchi, currently EVP and Chief Strategy Officer, will take on added responsibilities to become EVP, Chief Strategy & Innovation Officer, including overseeing Alcoa's research and development technologies. | (RTTNews) - Alcoa Corp. (AA), a bauxite, alumina and aluminum company, announced Tuesdsay the appointment of new Chief Operations Officer and Chief Financial Officer, as part of a restructuring to focus on its strategies to operate as a low-cost, margin-focused, sustainable producer. The changes are effective February 1. The company appointed William Oplinger, currently Executive Vice President or EVP and Chief Financial Officer, as EVP and Chief Operations Officer. | b94c394e-0199-46a5-83bd-02b55c239309 |
591.0 | 2022-12-29 00:00:00 UTC | AA vs. ARNC: Should You Buy These Aluminum Stocks? | AA | https://www.nasdaq.com/articles/aa-vs.-arnc%3A-should-you-buy-these-aluminum-stocks | nan | nan | Aluminum is the third-most-common element in the Earth's crust, and several industry trends suggest demand could surge in the coming years. However, supply trends aren't as pretty, making aluminum stocks unattractive in the near term. Nonetheless, in this piece, we compared two aluminum manufacturer stocks to see which is better. Alcoa (NYSE:AA) and Arconic (NYSE:ARNC) were once part of the same company under the Alcoa name, but the separation in 2016 has set each on their own path.
Alcoa (AA)
Alcoa has some things going for it versus Arconic, but it also has some things working against it. Alcoa's balance sheet is in decent shape, and it's becoming a leader in low-carbon aluminum. However, low aluminum prices are weighing on its results, and it's struggling to turn a profit (it lost $120 million in the past 12 months). Additionally, it's looking more and more like a supply glut is building. As a result, a neutral view looks appropriate for Alcoa at this time.
The aluminum industry as a whole is going through a transitional period. Jorge Vazquez of consultancy Harbor Aluminum told The Street that excess aluminum inventory is a growing risk. While demand surged this year, it's starting to ease, meaning the oversupply built up during the pandemic may be sitting in stockpiles for a while.
Over the long term, aluminum sales could reach $238 billion by 2028, up from $142 billion in 2021. The metal's price reached an all-time high earlier this year due to a post-pandemic consumption boom that boosted demand for electric vehicles, equipment to generate renewable energy, and appliances. Additionally, the transition to EVs has increased the amount of aluminum typically used for automobiles from about 300 pounds per vehicle to between 500 and 800 pounds.
However, for now, Alcoa is struggling to turn a profit, and Wall Street is punishing unprofitable companies. Additionally, rising interest rates are likely to take a bite out of vehicle purchases. With $1.4 billion in cash and equivalents, the good news is that the company looks like it might have enough cash to make it through until the secular trends for aluminum turn around.
What is the Price Target for AA Stock?
Alcoa has a Moderate Buy consensus rating based on three Buys, five Holds, and zero Sell ratings assigned over the last three months. At $46, the average price target for Alcoa implies downside potential of 1.2%.
Arconic (ARNC)
Arconic faces most of the same problems as Alcoa, although its biggest problem is its balance sheet — especially since it's struggling to turn a profit right now. Although the company's debt position isn't dire, it could take some time for it to turn around. Thus, a bearish view looks appropriate, at least for now.
Arconic also faces the additional issue of aluminum prices. While it benefits from high prices to some extent, it also takes a hit because aluminum is one of its input materials to make the products it sells to the automotive, aerospace, industrial, and commercial transportation industries.
Management cut its estimates with Arconic's third-quarter earnings report, further cementing concerns about the company's near term. The company's cost of goods sold has gone up meaningfully year-over-year, rising from $1.7 billion to $2.1 billion and resulting in a third-quarter operating loss of $36 million.
With only $312 million in cash and equivalents and $2 billion in current liabilities, Arconic might have trouble making it through to better days. However, if it can manage to do so, its products address attractive end markets like electric vehicles, where demand is set to explode. Arconic did manage to sell its Russian operations for $230 million, so that is a spot of much-needed good news.
What is the Price Target for ARNC Stock?
Arconic has a Moderate Buy consensus rating based on one Buy, two Holds, and zero Sell ratings assigned over the last three months. At $23.33, the average price target for Arconic implies upside potential of 10%.
Conclusion: Neutral on AA, Bearish on ARNC
The secular trends in the aluminum industry are simply unattractive right now. Both Alcoa and Arconic are struggling to turn a profit while a supply glut appears to be building, so neither looks attractive in the near term. However, Arconic's debt could become a problem, especially as it struggles to turn a profit. Thus, a neutral view looks appropriate for Alcoa, with a bearish view for Arconic.
In the long term, the aluminum industry looks bright due to the metal's role as a key ingredient in the transition to clean energy. Thus, if these companies can survive, Alcoa and Arconic could eventually be in very attractive positions.
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Disclosure
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) and Arconic (NYSE:ARNC) were once part of the same company under the Alcoa name, but the separation in 2016 has set each on their own path. Alcoa (AA) Alcoa has some things going for it versus Arconic, but it also has some things working against it. What is the Price Target for AA Stock? | Alcoa (NYSE:AA) and Arconic (NYSE:ARNC) were once part of the same company under the Alcoa name, but the separation in 2016 has set each on their own path. Alcoa (AA) Alcoa has some things going for it versus Arconic, but it also has some things working against it. What is the Price Target for AA Stock? | Alcoa (NYSE:AA) and Arconic (NYSE:ARNC) were once part of the same company under the Alcoa name, but the separation in 2016 has set each on their own path. Alcoa (AA) Alcoa has some things going for it versus Arconic, but it also has some things working against it. What is the Price Target for AA Stock? | What is the Price Target for AA Stock? Conclusion: Neutral on AA, Bearish on ARNC The secular trends in the aluminum industry are simply unattractive right now. Alcoa (NYSE:AA) and Arconic (NYSE:ARNC) were once part of the same company under the Alcoa name, but the separation in 2016 has set each on their own path. | f2e6d0ac-cb45-4e48-b098-2dabf58d5cd5 |
600.0 | 2022-12-17 00:00:00 UTC | ANALYSIS-Bumper green aluminium output is good news for carmakers, and climate | AA | https://www.nasdaq.com/articles/analysis-bumper-green-aluminium-output-is-good-news-for-carmakers-and-climate | nan | nan | By Eric Onstad
LONDON, Dec 17 (Reuters) - Aluminium makers are set to boost low-carbon metal output by 10% in 2023 and churn out even more in the years ahead, driving down the cost for carmakers seeking climate-friendly supplies and shrinking the industry's hefty carbon footprint.
Aluminium is the most energy-intensive metal to produce, accounting for about 1.1 billion tonnes of global CO2 emissions per year. Next year's forecast increase in "green aluminium" output would reduce that by 13 million tonnes, or about 1.2%.
That means global surpluses of green aluminium - largely produced using hydro power or recycled material - already weigh on the premium that producers can charge buyers, from automakers and beverage can firms to construction suppliers.
Vella added that the company had seen some increases in premiums recently, without giving details.
GREEN PRODUCTS
Global supplies of low-carbon aluminium have been robust for several years, but dipped in 2022 mainly due to restrictions in southern provinces in top producer China that rely on hydro power.
Output is due to bounce back globally next year, rising 10% to 18.56 million tonnes - accounting for 26% of total aluminium production, said Simon Large, analyst at consultancy CRU.
In Europe, the proportion of low-carbon products to overall supply is much higher than in the rest of the world, because large Scandinavian producers typically use hydro power, and should reach 83% next year, he added.
AUTO INDUSTRY
The increase in more sustainable supplies has coincided with growing efforts by companies to demonstrate their green credentials to consumers, led by the European car sector.
Germany's BMW BMWG.DE agreed last year to buy aluminium made with solar power from Emirates Global Aluminium, while Volkswagen's VOWG_p.DE premium brand Audi is piloting metal from the new ELYSIS technology pioneered by Alcoa AA.N and Rio Tinto, which eliminates all CO2 emissions and replaces them with oxygen.
Most companies are reluctant to disclose how much low-carbon material they buy and any premiums paid for competitive reasons.
Electric vehicle (EV) maker Polestar PSNY.O has started to use green aluminium as part of a project to create a vehicle with zero emissions from every aspect of production, teaming up with Norway's Norsk Hydro NHY.OL, which uses hydro power to produce much of its metal.
Polestar said it pays slightly more for green aluminium, partly due to the administrative costs of changing suppliers, but did not say how much more.
"The cost per reduced kg of CO2 emissions when shifting to green aluminium is still significantly lower than many other ways of reducing raw material emissions," a company spokesperson told Reuters.
Norsk Hydro also inked a deal to supply Mercedes-BenzMBGn.DE with aluminium that produces less than 3 tonnes of CO2 emissions per tonne of metal.
HEAVY INVESTMENT, LOW PREMIUMS
Aluminium companies have invested heavily in low-carbon technologies. Norsk Hydro said this year it had spent billions making its aluminium more sustainable, while Rio Tinto, Alcoa and the Canadian government invested $228 million in their new ELYSIS process.
But such investments to step up output are dampening the prices that producers can charge for their low-carbon products, especially this year when overall demand has been hit by recession fears, analysts say.
"Low carbon premiums on the spot side have basically disappeared," said Jorge Vazquez at consultancy Harbor Aluminum.
The spot premium for low-carbon billet, a fabricated product often used in construction, has slid to zero from $30 a tonne in January, he said.
Producers, however, are still managing to sell some of their low-carbon output at higher prices under quarterly and annual contracts.
Wire rod commands the highest premiums due to its use in power wiring linked to the green energy transition around the world, he added.
But even the bumper premium for wire rod of $45 a tonne represents less than 2% of the underlying benchmark aluminium price CMAL3.
There are regional variations as well.
"Where we've seen the most willingness to entertain green premiums is Europe, where it is quite accelerated, and we're starting to see the early elements in North America, but Asia is behind," said an industry source who declined to be identified.
In Europe, premiums may get a lift from European Union proposals to impose tariffs on imports of high-carbon goods by 2026, another analyst said.
Consumers are benefitting from the plentiful supplies of not only low-carbon primary aluminium, but recycled material, which uses about 95% less energy to make.
Rising output of both will keep green premiums relatively low in the coming years, said Marcelo Azevedo at the McKinsey consultancy.
Limited movement of supplies between regions, however, could lead to deficits in high-demand areas such as Europe, he added.
One area bucking the weak trend is "ultra-low" carbon aluminium, meaning metal produced with less than 2 tonnes of carbon emissions per tonne of metals, where premiums are strong due to lack of material, Azevedo said.
European Smelter Cuts Boost Share of Green Aluminiumhttps://tmsnrt.rs/3FBsOdm
Premiums for Low Carbon Aluminiumhttps://tmsnrt.rs/3uSjJqt
Abundant Supplies of Green Aluminiumhttps://tmsnrt.rs/3FDryGG
Low Carbon Aluminium Output Due to Bounce in 2023https://tmsnrt.rs/3BGUbAa
(Reporting by Eric Onstad Editing by Helen Popper)
((eric.onstad@thomsonreuters.com; +44 20 7542 7093; Twitter https://twitter.com/reutersEricO; Reuters Messaging: eric.onstad.thomsonreuters.com@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Germany's BMW BMWG.DE agreed last year to buy aluminium made with solar power from Emirates Global Aluminium, while Volkswagen's VOWG_p.DE premium brand Audi is piloting metal from the new ELYSIS technology pioneered by Alcoa AA.N and Rio Tinto, which eliminates all CO2 emissions and replaces them with oxygen. European Smelter Cuts Boost Share of Green Aluminiumhttps://tmsnrt.rs/3FBsOdm Premiums for Low Carbon Aluminiumhttps://tmsnrt.rs/3uSjJqt Abundant Supplies of Green Aluminiumhttps://tmsnrt.rs/3FDryGG Low Carbon Aluminium Output Due to Bounce in 2023https://tmsnrt.rs/3BGUbAa (Reporting by Eric Onstad Editing by Helen Popper) ((eric.onstad@thomsonreuters.com; +44 20 7542 7093; Twitter https://twitter.com/reutersEricO; Reuters Messaging: eric.onstad.thomsonreuters.com@reuters.net)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. By Eric Onstad LONDON, Dec 17 (Reuters) - Aluminium makers are set to boost low-carbon metal output by 10% in 2023 and churn out even more in the years ahead, driving down the cost for carmakers seeking climate-friendly supplies and shrinking the industry's hefty carbon footprint. | European Smelter Cuts Boost Share of Green Aluminiumhttps://tmsnrt.rs/3FBsOdm Premiums for Low Carbon Aluminiumhttps://tmsnrt.rs/3uSjJqt Abundant Supplies of Green Aluminiumhttps://tmsnrt.rs/3FDryGG Low Carbon Aluminium Output Due to Bounce in 2023https://tmsnrt.rs/3BGUbAa (Reporting by Eric Onstad Editing by Helen Popper) ((eric.onstad@thomsonreuters.com; +44 20 7542 7093; Twitter https://twitter.com/reutersEricO; Reuters Messaging: eric.onstad.thomsonreuters.com@reuters.net)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Germany's BMW BMWG.DE agreed last year to buy aluminium made with solar power from Emirates Global Aluminium, while Volkswagen's VOWG_p.DE premium brand Audi is piloting metal from the new ELYSIS technology pioneered by Alcoa AA.N and Rio Tinto, which eliminates all CO2 emissions and replaces them with oxygen. Output is due to bounce back globally next year, rising 10% to 18.56 million tonnes - accounting for 26% of total aluminium production, said Simon Large, analyst at consultancy CRU. | European Smelter Cuts Boost Share of Green Aluminiumhttps://tmsnrt.rs/3FBsOdm Premiums for Low Carbon Aluminiumhttps://tmsnrt.rs/3uSjJqt Abundant Supplies of Green Aluminiumhttps://tmsnrt.rs/3FDryGG Low Carbon Aluminium Output Due to Bounce in 2023https://tmsnrt.rs/3BGUbAa (Reporting by Eric Onstad Editing by Helen Popper) ((eric.onstad@thomsonreuters.com; +44 20 7542 7093; Twitter https://twitter.com/reutersEricO; Reuters Messaging: eric.onstad.thomsonreuters.com@reuters.net)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Germany's BMW BMWG.DE agreed last year to buy aluminium made with solar power from Emirates Global Aluminium, while Volkswagen's VOWG_p.DE premium brand Audi is piloting metal from the new ELYSIS technology pioneered by Alcoa AA.N and Rio Tinto, which eliminates all CO2 emissions and replaces them with oxygen. That means global surpluses of green aluminium - largely produced using hydro power or recycled material - already weigh on the premium that producers can charge buyers, from automakers and beverage can firms to construction suppliers. | Germany's BMW BMWG.DE agreed last year to buy aluminium made with solar power from Emirates Global Aluminium, while Volkswagen's VOWG_p.DE premium brand Audi is piloting metal from the new ELYSIS technology pioneered by Alcoa AA.N and Rio Tinto, which eliminates all CO2 emissions and replaces them with oxygen. European Smelter Cuts Boost Share of Green Aluminiumhttps://tmsnrt.rs/3FBsOdm Premiums for Low Carbon Aluminiumhttps://tmsnrt.rs/3uSjJqt Abundant Supplies of Green Aluminiumhttps://tmsnrt.rs/3FDryGG Low Carbon Aluminium Output Due to Bounce in 2023https://tmsnrt.rs/3BGUbAa (Reporting by Eric Onstad Editing by Helen Popper) ((eric.onstad@thomsonreuters.com; +44 20 7542 7093; Twitter https://twitter.com/reutersEricO; Reuters Messaging: eric.onstad.thomsonreuters.com@reuters.net)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Aluminium is the most energy-intensive metal to produce, accounting for about 1.1 billion tonnes of global CO2 emissions per year. | 05a6b6f1-39e6-4e0e-ba0f-bf0f5d07de7e |
608.0 | 2022-12-06 00:00:00 UTC | Sum Up The Parts: XME Could Be Worth $58 | AA | https://www.nasdaq.com/articles/sum-up-the-parts%3A-xme-could-be-worth-%2458 | nan | nan | Looking at the underlying holdings of the ETFs in our coverage universe at ETF Channel, we have compared the trading price of each holding against the average analyst 12-month forward target price, and computed the weighted average implied analyst target price for the ETF itself. For the SPDR S&P Metals & Mining ETF (Symbol: XME), we found that the implied analyst target price for the ETF based upon its underlying holdings is $58.16 per unit.
With XME trading at a recent price near $52.47 per unit, that means that analysts see 10.83% upside for this ETF looking through to the average analyst targets of the underlying holdings. Three of XME's underlying holdings with notable upside to their analyst target prices are Coeur Mining Inc (Symbol: CDE), Alcoa Corporation (Symbol: AA), and Peabody Energy Corp (Symbol: BTU). Although CDE has traded at a recent price of $3.18/share, the average analyst target is 15.94% higher at $3.69/share. Similarly, AA has 13.12% upside from the recent share price of $46.52 if the average analyst target price of $52.62/share is reached, and analysts on average are expecting BTU to reach a target price of $33.25/share, which is 12.45% above the recent price of $29.57. Below is a twelve month price history chart comparing the stock performance of CDE, AA, and BTU:
Combined, CDE, AA, and BTU represent 9.30% of the SPDR S&P Metals & Mining ETF. Below is a summary table of the current analyst target prices discussed above:
NAME SYMBOL RECENT PRICE AVG. ANALYST 12-MO. TARGET % UPSIDE TO TARGET
SPDR S&P Metals & Mining ETF XME $52.47 $58.16 10.83%
Coeur Mining Inc CDE $3.18 $3.69 15.94%
Alcoa Corporation AA $46.52 $52.62 13.12%
Peabody Energy Corp BTU $29.57 $33.25 12.45%
Are analysts justified in these targets, or overly optimistic about where these stocks will be trading 12 months from now? Do the analysts have a valid justification for their targets, or are they behind the curve on recent company and industry developments? A high price target relative to a stock's trading price can reflect optimism about the future, but can also be a precursor to target price downgrades if the targets were a relic of the past. These are questions that require further investor 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. | SPDR S&P Metals & Mining ETF XME $52.47 $58.16 10.83% Coeur Mining Inc CDE $3.18 $3.69 15.94% Alcoa Corporation AA $46.52 $52.62 13.12% Peabody Energy Corp BTU $29.57 $33.25 12.45% Are analysts justified in these targets, or overly optimistic about where these stocks will be trading 12 months from now? Three of XME's underlying holdings with notable upside to their analyst target prices are Coeur Mining Inc (Symbol: CDE), Alcoa Corporation (Symbol: AA), and Peabody Energy Corp (Symbol: BTU). Similarly, AA has 13.12% upside from the recent share price of $46.52 if the average analyst target price of $52.62/share is reached, and analysts on average are expecting BTU to reach a target price of $33.25/share, which is 12.45% above the recent price of $29.57. | Three of XME's underlying holdings with notable upside to their analyst target prices are Coeur Mining Inc (Symbol: CDE), Alcoa Corporation (Symbol: AA), and Peabody Energy Corp (Symbol: BTU). Below is a twelve month price history chart comparing the stock performance of CDE, AA, and BTU: Combined, CDE, AA, and BTU represent 9.30% of the SPDR S&P Metals & Mining ETF. SPDR S&P Metals & Mining ETF XME $52.47 $58.16 10.83% Coeur Mining Inc CDE $3.18 $3.69 15.94% Alcoa Corporation AA $46.52 $52.62 13.12% Peabody Energy Corp BTU $29.57 $33.25 12.45% Are analysts justified in these targets, or overly optimistic about where these stocks will be trading 12 months from now? | Similarly, AA has 13.12% upside from the recent share price of $46.52 if the average analyst target price of $52.62/share is reached, and analysts on average are expecting BTU to reach a target price of $33.25/share, which is 12.45% above the recent price of $29.57. Three of XME's underlying holdings with notable upside to their analyst target prices are Coeur Mining Inc (Symbol: CDE), Alcoa Corporation (Symbol: AA), and Peabody Energy Corp (Symbol: BTU). Below is a twelve month price history chart comparing the stock performance of CDE, AA, and BTU: Combined, CDE, AA, and BTU represent 9.30% of the SPDR S&P Metals & Mining ETF. | Below is a twelve month price history chart comparing the stock performance of CDE, AA, and BTU: Combined, CDE, AA, and BTU represent 9.30% of the SPDR S&P Metals & Mining ETF. Three of XME's underlying holdings with notable upside to their analyst target prices are Coeur Mining Inc (Symbol: CDE), Alcoa Corporation (Symbol: AA), and Peabody Energy Corp (Symbol: BTU). Similarly, AA has 13.12% upside from the recent share price of $46.52 if the average analyst target price of $52.62/share is reached, and analysts on average are expecting BTU to reach a target price of $33.25/share, which is 12.45% above the recent price of $29.57. | 59cc4376-11d4-43ee-816c-64ee109e2057 |
613.0 | 2022-11-17 00:00:00 UTC | Russia's Rusal calls for LME to disclose origin of all metal stocks | AA | https://www.nasdaq.com/articles/russias-rusal-calls-for-lme-to-disclose-origin-of-all-metal-stocks | nan | nan | This content was produced in Russia where the law restricts coverage of Russian military operations in Ukraine
Adds details, quotes, context
MOSCOW, Nov 17 (Reuters) - Russian aluminium producer Rusal 0486.HK has called for the London Metal Exchange (LME) to start regularly disclosing the origin of all metal stocks on warrant rather than singling out Russia as proposed, it said in a letter.
Russia is a major global producer of aluminium, and Rusal itself is the world's largest aluminium producer outside China. Neither the company, nor the Russia-produced metal have been directly targeted by sanctions imposed on Moscow after it sent troops to Ukraine on Feb. 24.
"From January the LME plans to publish a monthly report on the percentage of live Russian metal on warrant," Rusal said in a letter to the LME welcoming the decision not to delist its brands from the exchange.
"We are naturally concerned that any such report would be restricted to Russian metal only," it said, adding that the LME's report, covering all regions, comes once a year - in early April.
"In order to best serve the market through transparency, without singling out any specific origin or producer, we seek your confirmation that any future reports would contain the split of metal from all regions, similar to the annual release," the Russian producer added.
Rusal maintains a solid sales book moving in to 2023, and has no intention of delivering its metal to the exchange, it said in the letter to the LME dated Wednesday and released on Thursday.
U.S.-based aluminium producer Alcoa AA.N has been publicly calling for Russian metal to be excluded from being traded and stored on the exchange. Several other producers have also called for a ban publicly.
However, sources familiar with the matter told Reuters in October that commodity trader Glencore GLEN.L would buy aluminium from Rusal next year and that the Russian producer had already sold 76% of its primary aluminium and value added products for 2023.
(Reporting by Polina Devitt, Anastasia Lyrchikova and Pratima Desai; editing by Tomasz Janowski and Elaine Hardcastle)
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | U.S.-based aluminium producer Alcoa AA.N has been publicly calling for Russian metal to be excluded from being traded and stored on the exchange. This content was produced in Russia where the law restricts coverage of Russian military operations in Ukraine Adds details, quotes, context MOSCOW, Nov 17 (Reuters) - Russian aluminium producer Rusal 0486.HK has called for the London Metal Exchange (LME) to start regularly disclosing the origin of all metal stocks on warrant rather than singling out Russia as proposed, it said in a letter. Rusal maintains a solid sales book moving in to 2023, and has no intention of delivering its metal to the exchange, it said in the letter to the LME dated Wednesday and released on Thursday. | U.S.-based aluminium producer Alcoa AA.N has been publicly calling for Russian metal to be excluded from being traded and stored on the exchange. This content was produced in Russia where the law restricts coverage of Russian military operations in Ukraine Adds details, quotes, context MOSCOW, Nov 17 (Reuters) - Russian aluminium producer Rusal 0486.HK has called for the London Metal Exchange (LME) to start regularly disclosing the origin of all metal stocks on warrant rather than singling out Russia as proposed, it said in a letter. "We are naturally concerned that any such report would be restricted to Russian metal only," it said, adding that the LME's report, covering all regions, comes once a year - in early April. | U.S.-based aluminium producer Alcoa AA.N has been publicly calling for Russian metal to be excluded from being traded and stored on the exchange. This content was produced in Russia where the law restricts coverage of Russian military operations in Ukraine Adds details, quotes, context MOSCOW, Nov 17 (Reuters) - Russian aluminium producer Rusal 0486.HK has called for the London Metal Exchange (LME) to start regularly disclosing the origin of all metal stocks on warrant rather than singling out Russia as proposed, it said in a letter. "From January the LME plans to publish a monthly report on the percentage of live Russian metal on warrant," Rusal said in a letter to the LME welcoming the decision not to delist its brands from the exchange. | U.S.-based aluminium producer Alcoa AA.N has been publicly calling for Russian metal to be excluded from being traded and stored on the exchange. This content was produced in Russia where the law restricts coverage of Russian military operations in Ukraine Adds details, quotes, context MOSCOW, Nov 17 (Reuters) - Russian aluminium producer Rusal 0486.HK has called for the London Metal Exchange (LME) to start regularly disclosing the origin of all metal stocks on warrant rather than singling out Russia as proposed, it said in a letter. Russia is a major global producer of aluminium, and Rusal itself is the world's largest aluminium producer outside China. | 6f3908f3-1648-4b11-980e-bda9bce42f59 |
615.0 | 2022-11-11 00:00:00 UTC | Why Alcoa, Chevron, and Freeport-McMoRan Stocks Sizzled on Friday | AA | https://www.nasdaq.com/articles/why-alcoa-chevron-and-freeport-mcmoran-stocks-sizzled-on-friday | nan | nan | What happened
Commodity stocks flew high on Friday, with some even clocking double-digit percentage gains during the day. Some of the biggest gainers included Alcoa (NYSE: AA), Chevron (NYSE: CVX), and Freeport-McMoRan (NYSE: FCX). At their highest points in Friday trading as of 1 p.m. ET, these stocks had rallied 15.8%, 3%, and 6.8%, respectively.
Two C's drove Friday's rally in these stocks: China and commodity prices. And chances are, this rally could last longer than you might expect.
So what
China's zero-COVID policy has dealt a heavy blow to the economy and investor sentiment in recent months. With a property crisis hurting the real estate sector and COVID curbs hitting manufacturing activity, China's appetite for commodities dried up too.
China is the world's largest consumer of base metals like iron, aluminum, and copper, and is also among the world's largest consumers of oil. Lower demand from the nation unsurprisingly drove prices of commodities lower, and the ripple effects could be seen in the prices of stocks across the sector.
In an unexpected turn of events on Friday, China announced plans to ease some of its COVID curbs to reduce their impact on its people and the economy, according to The Wall Street Journal. Since it's the first such significant step by China to ease COVID rules, the development sent prices of nearly every major commodity surging as investors bet on a recovery in demand from the nation. That includes iron ore, aluminum, copper, zinc, and oil.
Prices of zinc and aluminum, for example, jumped nearly 6% and 5%, respectively, on the London Metal Exchange on Friday, according to Bloomberg. Copper prices hit levels last seen in June, and crude oil prices were up around 2.5% as of this writing.
Friday also brought more cheer to the commodity and stock markets after the latest Consumer Price Index (CPI) data reflected a slower-than-expected growth in inflation in the U.S. in October. Combined, the two factors gave investors a big reason to buy commodity stocks, especially shares of prominent companies.
AA data by YCharts
While Alcoa is the world's largest producer of alumina, which is used to produce aluminum, Freeport-McMoRan is among the world's largest producers of copper. Chevron, for its part, is one of the leading oil and gas producers in the world.
Now what
With prices of base metals falling sharply in recent months, both Alcoa and Freeport-McMoRan realized significantly lower prices on their sales volumes in the third quarter. Alcoa even slashed its guidance for alumina and bauxite shipments for 2022, partly because of lower demand.
It should therefore come as no surprise to see the market bid these languishing stocks higher on Friday after metal prices rebounded.
Chevron, though, is an outlier, having hugely outperformed the markets so far this year. With oil and gas prices skyrocketing this year, Chevron has made boatloads of money. In the third quarter, it generated record cash flow from operations, and its quarterly net income was the second highest in history.
Chevron stock's move on Friday clearly indicates that investors still see an upside in the oil stock even after its stupendous rally in 2022 and along with that, also expect a big dividend raise from the oil stock in early 2023.
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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. | Some of the biggest gainers included Alcoa (NYSE: AA), Chevron (NYSE: CVX), and Freeport-McMoRan (NYSE: FCX). AA data by YCharts While Alcoa is the world's largest producer of alumina, which is used to produce aluminum, Freeport-McMoRan is among the world's largest producers of copper. In an unexpected turn of events on Friday, China announced plans to ease some of its COVID curbs to reduce their impact on its people and the economy, according to The Wall Street Journal. | Some of the biggest gainers included Alcoa (NYSE: AA), Chevron (NYSE: CVX), and Freeport-McMoRan (NYSE: FCX). AA data by YCharts While Alcoa is the world's largest producer of alumina, which is used to produce aluminum, Freeport-McMoRan is among the world's largest producers of copper. China is the world's largest consumer of base metals like iron, aluminum, and copper, and is also among the world's largest consumers of oil. | Some of the biggest gainers included Alcoa (NYSE: AA), Chevron (NYSE: CVX), and Freeport-McMoRan (NYSE: FCX). AA data by YCharts While Alcoa is the world's largest producer of alumina, which is used to produce aluminum, Freeport-McMoRan is among the world's largest producers of copper. Lower demand from the nation unsurprisingly drove prices of commodities lower, and the ripple effects could be seen in the prices of stocks across the sector. | AA data by YCharts While Alcoa is the world's largest producer of alumina, which is used to produce aluminum, Freeport-McMoRan is among the world's largest producers of copper. Some of the biggest gainers included Alcoa (NYSE: AA), Chevron (NYSE: CVX), and Freeport-McMoRan (NYSE: FCX). Two C's drove Friday's rally in these stocks: China and commodity prices. | 1cd47a95-198c-4e2e-8df4-a5f73abe73bd |
618.0 | 2022-10-31 00:00:00 UTC | AA Named 'Top Dividend Stock of the S&P Metals & Mining Index' at Dividend Channel With 1.0% Yield | AA | https://www.nasdaq.com/articles/aa-named-top-dividend-stock-of-the-sp-metals-mining-index-at-dividend-channel-with-1.0 | nan | nan | Alcoa Corporation (Symbol: AA) has been named as the ''Top Dividend Stock of the S&P Metals and Mining Select Industry Index'', according to Dividend Channel, which published its most recent ''DividendRank'' report. The report noted that among the components of the S&P Metals & Mining Index, AA shares displayed both attractive valuation metrics and strong profitability metrics. The report also cited the strong quarterly dividend history at Alcoa Corporation, and favorable long-term multi-year growth rates in key fundamental data points.
The report stated, ''Dividend investors approaching investing from a value standpoint are generally most interested in researching the strongest most profitable companies, that also happen to be trading at an attractive valuation. That's what we aim to find using our proprietary DividendRank formula, which ranks the coverage universe based upon our various criteria for both profitability and valuation, to generate a list of the top most 'interesting' stocks, meant for investors as a source of ideas that merit further research.''
The S&P Metals and Mining Select Industry Index is one of the prominent indices that covers the metals and mining industry. Click here to see the most popular ETF that follows this index, and see the components and their weights, at ETFChannel.com »
The current annualized dividend paid by Alcoa Corporation is $0.4/share, currently paid in quarterly installments, and its most recent dividend ex-date was on 10/31/2022. Below is a long-term dividend history chart for AA, which the report stressed as being of key importance. Indeed, studying a company's past dividend history can be of good help in judging whether the most recent dividend is likely to continue.
10 Top Ranked S&P Metals & Mining Components »
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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 Corporation (Symbol: AA) has been named as the ''Top Dividend Stock of the S&P Metals and Mining Select Industry Index'', according to Dividend Channel, which published its most recent ''DividendRank'' report. The report noted that among the components of the S&P Metals & Mining Index, AA shares displayed both attractive valuation metrics and strong profitability metrics. Below is a long-term dividend history chart for AA, which the report stressed as being of key importance. | The report noted that among the components of the S&P Metals & Mining Index, AA shares displayed both attractive valuation metrics and strong profitability metrics. Alcoa Corporation (Symbol: AA) has been named as the ''Top Dividend Stock of the S&P Metals and Mining Select Industry Index'', according to Dividend Channel, which published its most recent ''DividendRank'' report. Below is a long-term dividend history chart for AA, which the report stressed as being of key importance. | Alcoa Corporation (Symbol: AA) has been named as the ''Top Dividend Stock of the S&P Metals and Mining Select Industry Index'', according to Dividend Channel, which published its most recent ''DividendRank'' report. The report noted that among the components of the S&P Metals & Mining Index, AA shares displayed both attractive valuation metrics and strong profitability metrics. Below is a long-term dividend history chart for AA, which the report stressed as being of key importance. | Alcoa Corporation (Symbol: AA) has been named as the ''Top Dividend Stock of the S&P Metals and Mining Select Industry Index'', according to Dividend Channel, which published its most recent ''DividendRank'' report. The report noted that among the components of the S&P Metals & Mining Index, AA shares displayed both attractive valuation metrics and strong profitability metrics. Below is a long-term dividend history chart for AA, which the report stressed as being of key importance. | a1a17b1f-59ee-45c1-b3a1-9944d4f133ee |
619.0 | 2022-10-28 00:00:00 UTC | LMEWEEK-Glencore to stick with Rusal's aluminium in 2023 -sources | AA | https://www.nasdaq.com/articles/lmeweek-glencore-to-stick-with-rusals-aluminium-in-2023-sources-0 | nan | nan | By Pratima Desai
LONDON, Oct 27 (Reuters) - Commodity trader Glencore will buy aluminium from Rusal next year according to its contract with the Russian producer, and so far only about 10% of its current customer base is looking elsewhere, two people with direct knowledge of the matter said.
Calls to ban Rusal's aluminium from the London Metal Exchange's (LME) system by U.S.-based aluminium producer Alcoa and Norway's Norsk Hydro had led the market to expect many would shun Rusal's metal next year after 2022 contracts expired.
Some in the market were speculating that Glencore would also shun Rusal despite the company's close association with it.
But European business groups representing consumers oppose any restrictions against Russian aluminium, saying they could put thousands of companies out of business and that those calling for measures "are either its main competitors" or have supply options that are not available to others.
Rusal's RUAL.MM, 0486.HK aluminium and products are used by the transport, construction and packaging industries.
Rusal has already sold 76% of its primary aluminium and value added products for next year, the sources said. They said that the world's largest producer outside China, which accounts for 6% of global output, would produce 4.2 million tonnes of primary aluminium next year.
"Glencore are going to take aluminium from Rusal next year," one of the sources said, declining to detail the quantity and adding that negotiations with consumers to sell the remainder of Rusal's product were still going on.
Glencore and Rusal declined to comment.
Rusal in April 2020 agreed a long-term contract to supply London-listed Glencore GLEN.L with 6.9 million tonnes of aluminium. Of that, 344,760 tonnes were due to be delivered in 2020 and around 1.6 million tonnes a year between 2021 and 2024.
Glencore has a 10.5% stake in EN+, which has a majority stake in Rusal.
Aluminium consumers and producers have been negotiating contracts for 2023 since September.
"Talks have taken longer than usual because there is so much uncertainty about aluminium demand next year," an aluminium buyer said, adding that the possibility of the LME banning Russian metal was also creating uncertainty.
Earlier this month, the LME launched a discussion paper on the possibility of banning Russian aluminium, nickel and copper from being traded and stored in its system. The deadline for responses is Friday.
U.S. President Joe Biden's administration is also weighing restricting imports of Russian aluminum as it charts possible responses to Moscow's military escalation in Ukraine, a person briefed on the conversations told Reuters.
(Reporting by Pratima Desai; editing by Veronica Brown and Tomasz Janowski)
((pratima.desai@thomsonreuters.com; +44 207 513 5681;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | By Pratima Desai LONDON, Oct 27 (Reuters) - Commodity trader Glencore will buy aluminium from Rusal next year according to its contract with the Russian producer, and so far only about 10% of its current customer base is looking elsewhere, two people with direct knowledge of the matter said. Earlier this month, the LME launched a discussion paper on the possibility of banning Russian aluminium, nickel and copper from being traded and stored in its system. U.S. President Joe Biden's administration is also weighing restricting imports of Russian aluminum as it charts possible responses to Moscow's military escalation in Ukraine, a person briefed on the conversations told Reuters. | By Pratima Desai LONDON, Oct 27 (Reuters) - Commodity trader Glencore will buy aluminium from Rusal next year according to its contract with the Russian producer, and so far only about 10% of its current customer base is looking elsewhere, two people with direct knowledge of the matter said. Calls to ban Rusal's aluminium from the London Metal Exchange's (LME) system by U.S.-based aluminium producer Alcoa and Norway's Norsk Hydro had led the market to expect many would shun Rusal's metal next year after 2022 contracts expired. "Talks have taken longer than usual because there is so much uncertainty about aluminium demand next year," an aluminium buyer said, adding that the possibility of the LME banning Russian metal was also creating uncertainty. | By Pratima Desai LONDON, Oct 27 (Reuters) - Commodity trader Glencore will buy aluminium from Rusal next year according to its contract with the Russian producer, and so far only about 10% of its current customer base is looking elsewhere, two people with direct knowledge of the matter said. Calls to ban Rusal's aluminium from the London Metal Exchange's (LME) system by U.S.-based aluminium producer Alcoa and Norway's Norsk Hydro had led the market to expect many would shun Rusal's metal next year after 2022 contracts expired. "Glencore are going to take aluminium from Rusal next year," one of the sources said, declining to detail the quantity and adding that negotiations with consumers to sell the remainder of Rusal's product were still going on. | Calls to ban Rusal's aluminium from the London Metal Exchange's (LME) system by U.S.-based aluminium producer Alcoa and Norway's Norsk Hydro had led the market to expect many would shun Rusal's metal next year after 2022 contracts expired. They said that the world's largest producer outside China, which accounts for 6% of global output, would produce 4.2 million tonnes of primary aluminium next year. "Glencore are going to take aluminium from Rusal next year," one of the sources said, declining to detail the quantity and adding that negotiations with consumers to sell the remainder of Rusal's product were still going on. | 3b8dd6e0-2049-492f-a536-71a13a274fc4 |
621.0 | 2022-10-27 00:00:00 UTC | COLUMN-Metal markets brace for a downturn of a different kind: Andy Home | AA | https://www.nasdaq.com/articles/column-metal-markets-brace-for-a-downturn-of-a-different-kind%3A-andy-home-0 | nan | nan | By Andy Home
LONDON Oct 27 (Reuters) - The spectre of recession has hung heavy over this year's London Metal Exchange (LME) Week festivities.
The analyst consensus is that Europe's manufacturing sector is already contracting and the United States may well follow.
Demand forecasts have been slashed. The International Lead and Zinc Study Group (ILZSG) now expects global zinc usage to contract by 1.9% this year. At its April meeting it was expecting 1.6% growth.
The International Nickel Study Group has cut its global demand forecast from 8.6% in May to 4.2%, reflecting a slide in stainless steel production.
Large amounts of aluminium are already turning up in LME warehouses as the supply chain destocks.
The LME Index .LMEX, a basket of core base metals, has gone from boom to bust in double-quick time, collapsing by 29% from its all-time highs in March.
But this downturn comes with three unusual characteristics which have combined to create a heady cocktail of uncertainty.
RUSSIAN METAL - TAKE IT OR LEAVE IT?
The status of Russian metal has been a key talking-point at the many seminars and parties this week in London.
Should the LME suspend deliveries of Russian aluminium, copper and nickel or should it maintain its policy of not preempting official sanctions?
Battle-lines are drawn.
German copper producer AurubisNAFG.DE has joined U.S. aluminium producer AlcoaAA.N in publicly calling for an LME ban on Russian metal. Norway's Hydro NHY.OL wants government sanctions.
European aluminium consumers group FACE wants the European Commission to intervene to prevent any ban, saying it would risk "the destruction of the independent downstream European aluminium industry".
The deadline for responses to the LME's discussion paper is Friday.
There is a lot of metal supply at stake here. Rusal produces almost four million tonnes of aluminium each year.
Nornickel accounts for around 7% of global nickel supply and, critically for the LME, is a major supplier of the Class I metal deliverable against the exchange's contract.
Russia produced 920,000 tonnes of refined copper last year, about 3.5% of the world's total, according to the U.S. Geological Survey.
An LME ban on deliveries of Russian metal would clearly have significant ramifications for both LME and physical market pricing. More government sanctions would make an even harder impact.
SMELTER PROBLEMS, LOW STOCKS
The second oddity is that the downturn in pricing is coming at a time when supply in many metals is still very stressed.
Europe has already lost over a million tonnes of aluminium smelting capacity due to high energy prices and it's likely to lose more as power price hedges expire.
The impact on the aluminium price has been cushioned by the simultaneous downturn in spot demand and an aggressive ramp-up of production in China over the first half of the year.
However, China's aluminium smelters are facing constraints too, particularly those in the drought-hit hydro province of Yunnan, an emerging hub of "green" metal production.
The smelter bottleneck is most acute in zinc, reflecting both European power-related curtailments and a string of problems at other smelters around the world. Canada's CEZ has just joined the list, announcing it will close by the end of the month for preemptive cell maintenance. It doesn't yet know when it will be back.
The ILZSG is forecasting another year of supply deficit for both zinc and lead next year as smelter availability reduces the flow of mined concentrate.
The outlook is for continued high physical premiums, particularly in Europe and North America, and no rebuild in depleted exchange stocks.
Copper is least impacted by the energy crisis and there is broad analyst consensus around The International Copper Study Group's (ICSG) forecast for the global refined market to move from supply deficit to a 155,000-tonne surplus next year.
However, the modest scale of that surplus is likely to keep supply tight and, like zinc and lead, will do nothing to replenish depleted visible stocks.
The conundrum of low price and low inventory seems set to continue for a while and it will become more acute if the LME were to restrict the delivery of Russian metal.
GREEN TRANSITION
While its sister organisations downgraded their demand forecasts for lead, nickel and zinc, the ICSG has actually lifted its demand growth estimate for this year from 1.9% to 2.2%.
China's strong imports of refined copper this year have boosted the ICSG's calculation of apparent usage to 2.5%. Imports are likely to accelerate further given the drawdown in bonded warehouse stocks and the resulting super-high import premium.
The country's hunger for copper seems anomalous given the well-flagged problems in the property sector, a major component of Chinese copper demand.
However, it seems that copper usage, in China at least, is now finding an extra driver in the form of government investment in green transition technology.
The much-hyped green booster may finally be starting to arrive and it raises the interesting question of whether Doctor Copper will retain his price relationship with the broader economic cycle or will start to move more in tune with the decarbonisation cycle.
This is already happening in nickel. Although usage in electric vehicle batteries is still small relative to that of the stainless steel sector, it's growing faster and is playing an ever more important role in theglobal marketstructure.
The high energy prices that are roiling both metal producers and consumers will accelerate the green transition as Europe looks to reduce its dependency on Russian fossil fuels.
That means even more government funding for renewable generation capacity and for electric vehicles subsidies, bringing forward both the energy transition timetable and the draw on the metals needed to achieve it.
CLOUDY OUTLOOK
The world is going to need a lot more metal if it is to meet its carbon reduction targets. Unfortunately current prices are too low to incentivise the necessary investment in new mine and smelter capacity.
It's a major conundrum which can be added to the puzzling mix of bearish outright pricing, existing supply disruption, potential Russian supply disruption and, in several cases, critically low exchange inventory.
Confused? Don't worry. So was just about everyone else in London this week.
The opinions expressed here are those of the author, a columnist for Reuters.
LME metals go from boom to bust in double-quick timehttps://tmsnrt.rs/3zkodIS
Market balances for copper, zinc, lead and nickelhttps://tmsnrt.rs/3DC0MgA
(Editing by Kirsten Donovan)
((andy.home@thomsonreuters.com, 44-207-542-4412 and on Twitter https://twitter.com/AndyHomeMetals))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | German copper producer AurubisNAFG.DE has joined U.S. aluminium producer AlcoaAA.N in publicly calling for an LME ban on Russian metal. Although usage in electric vehicle batteries is still small relative to that of the stainless steel sector, it's growing faster and is playing an ever more important role in theglobal marketstructure. The high energy prices that are roiling both metal producers and consumers will accelerate the green transition as Europe looks to reduce its dependency on Russian fossil fuels. | German copper producer AurubisNAFG.DE has joined U.S. aluminium producer AlcoaAA.N in publicly calling for an LME ban on Russian metal. By Andy Home LONDON Oct 27 (Reuters) - The spectre of recession has hung heavy over this year's London Metal Exchange (LME) Week festivities. The International Lead and Zinc Study Group (ILZSG) now expects global zinc usage to contract by 1.9% this year. | German copper producer AurubisNAFG.DE has joined U.S. aluminium producer AlcoaAA.N in publicly calling for an LME ban on Russian metal. Copper is least impacted by the energy crisis and there is broad analyst consensus around The International Copper Study Group's (ICSG) forecast for the global refined market to move from supply deficit to a 155,000-tonne surplus next year. LME metals go from boom to bust in double-quick timehttps://tmsnrt.rs/3zkodIS Market balances for copper, zinc, lead and nickelhttps://tmsnrt.rs/3DC0MgA (Editing by Kirsten Donovan) ((andy.home@thomsonreuters.com, 44-207-542-4412 and on Twitter https://twitter.com/AndyHomeMetals)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | German copper producer AurubisNAFG.DE has joined U.S. aluminium producer AlcoaAA.N in publicly calling for an LME ban on Russian metal. The International Nickel Study Group has cut its global demand forecast from 8.6% in May to 4.2%, reflecting a slide in stainless steel production. Copper is least impacted by the energy crisis and there is broad analyst consensus around The International Copper Study Group's (ICSG) forecast for the global refined market to move from supply deficit to a 155,000-tonne surplus next year. | 4b1aa4a2-8a32-4bef-a15d-cd5bd9bc92b6 |
624.0 | 2022-10-27 00:00:00 UTC | LMEWEEK-Pressure builds on London Metal Exchange to boycott Russia | AA | https://www.nasdaq.com/articles/lmeweek-pressure-builds-on-london-metal-exchange-to-boycott-russia | nan | nan | By Peter Hobson
LONDON, Oct 27 (Reuters) - Pressure is mounting on the London Metal Exchange (LME) to block Russian material from its system, with several producers calling publicly for action, which some consumer associations oppose.
Russia is a large producer of aluminium, copper and nickel. These have not been targeted by sanctions imposed after the Kremlin sent troops into Ukraine.
But the United States is considering restrictions on Russian aluminium and the LME, the world's biggest and oldest metals trade hub, is asking its users if it should ban Russian metal.
The LME has set a deadline of Friday for responses, and some major names have taken their positions public.
Aurubis, Europe's biggest copper producer, and Norwegian aluminium maker Norsk HydroNHY.OL this week called for action against Russian metal.
U.S. aluminium producer Alcoa AA.N, has said it is lobbying for a U.S. ban on Russian aluminium imports and for the LME to delist Russian brands.
Those wanting the LME to act say many metals users are avoiding Russian material and huge amounts of unwanted Russian metal could build up in the LME's warehouse system, damaging its credibility.
"Quick action is required," said Aurubis chief Roland Harings.
LME Chief Executive Matt Chamberlain said the exchange was monitoring levels of Russian metal and could take action if it thought there was a problem, without specifying what it might do. The LME declined to comment further.
VESTED INTEREST
European industry associations representing aluminium users said restrictions against Russian metal would likely help the producers calling for them while exposing smaller consumers to restricted supply and higher prices.
"Those calling for such bans and sanctions have a vested interest in those measures that will benefit them at the expense of the vast majority of the industry," five associations said in a statement.
Some producers are already charging more for their metal.
Chile's Codelco, the world's biggest copper miner, has agreed with European buyers a record-high premium of $234 a tonne over benchmark LME prices for deliveries in 2023, up from around $128 in 2022.
"Many European consumers don't want Russian copper, they have to look elsewhere," said a source familiar with the negotiations over premiums.
Prices of nickel, copper and aluminium shot up in the weeks after Russia invaded Ukraine on Feb. 24 due to fears of disrupted supplies. CMNI3, CMCU3, CMAL3
Russian aluminium producer Rusal 0486.HK said the pressure for restrictions "looks increasingly like market distorting behaviour by some primary aluminium producers."
It said it had "written in the strongest terms to the LME expressing concerns with the process and its ramifications for end users and global consumers," adding that its aluminium "remains in demand and is approaching a full order book for next year."
Asked this month if it could sue the LME, Rusal said it has considered "all possible options, including this one".
The head of metals at exchange operator CME Group CME.O this week said it would not block Russian metal unless government rules made it do so.
Novelis, the world's largest aluminium consumer, said it was working on its response to the LME. Wieland, a copper products maker, and Trimet Aluminium declined to comment.
(Reporting by Peter Hobson and Michael Hogan; editing by Pratima Desai and Jonathan Oatis)
((Peter.hobson@thomsonreuters.com))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | U.S. aluminium producer Alcoa AA.N, has said it is lobbying for a U.S. ban on Russian aluminium imports and for the LME to delist Russian brands. Aurubis, Europe's biggest copper producer, and Norwegian aluminium maker Norsk HydroNHY.OL this week called for action against Russian metal. Chile's Codelco, the world's biggest copper miner, has agreed with European buyers a record-high premium of $234 a tonne over benchmark LME prices for deliveries in 2023, up from around $128 in 2022. | U.S. aluminium producer Alcoa AA.N, has said it is lobbying for a U.S. ban on Russian aluminium imports and for the LME to delist Russian brands. By Peter Hobson LONDON, Oct 27 (Reuters) - Pressure is mounting on the London Metal Exchange (LME) to block Russian material from its system, with several producers calling publicly for action, which some consumer associations oppose. Aurubis, Europe's biggest copper producer, and Norwegian aluminium maker Norsk HydroNHY.OL this week called for action against Russian metal. | U.S. aluminium producer Alcoa AA.N, has said it is lobbying for a U.S. ban on Russian aluminium imports and for the LME to delist Russian brands. But the United States is considering restrictions on Russian aluminium and the LME, the world's biggest and oldest metals trade hub, is asking its users if it should ban Russian metal. Those wanting the LME to act say many metals users are avoiding Russian material and huge amounts of unwanted Russian metal could build up in the LME's warehouse system, damaging its credibility. | U.S. aluminium producer Alcoa AA.N, has said it is lobbying for a U.S. ban on Russian aluminium imports and for the LME to delist Russian brands. But the United States is considering restrictions on Russian aluminium and the LME, the world's biggest and oldest metals trade hub, is asking its users if it should ban Russian metal. Aurubis, Europe's biggest copper producer, and Norwegian aluminium maker Norsk HydroNHY.OL this week called for action against Russian metal. | 0f74f1a2-823b-4b1a-8766-3b8e776a20ac |
626.0 | 2022-10-25 00:00:00 UTC | LMEWEEK-Norsk Hydro calls for EU, US sanctions on Russian aluminium | AA | https://www.nasdaq.com/articles/lmeweek-norsk-hydro-calls-for-eu-us-sanctions-on-russian-aluminium | nan | nan | By Victoria Klesty
OSLO, Oct 25 (Reuters) - Norwegian aluminium-maker Norsk Hydro NHY.OL called on Tuesday on the United States and the European Union to stop importing Russian aluminium onto their territories, its chief executive told Reuters.
About half of Europe's aluminium production has been shut down as a result of a surge in energy costs since Russia's invasion of Ukraine, while Russian output has been unaffected.
Russia's Rusal RUAL.MM, 0486.HK produces around 6% of the world's aluminium. This metal has not been targeted by Western sanctions against Russia following its invasion of Ukraine.
But the U.S. is considering restrictions on Russian aluminium imports and the London Metal Exchange (LME), the biggest metals trade hub, is asking members if it should ban Russian material from its system.
"We want to urge sanctions in both Europe and the US," Hydro CEO Hilde Merete Aasheim told Reuters. "Our European industry shuts down, while ... we see Russian production at the same level as before the invasion. So they are benefiting."
Hydro produces most of its aluminium in Europe, Qatar, Brazil and Canada. It has no production in Russia and has stopped trading in Russian aluminium in the wake of the Feb. 24 invasion of Ukraine.
Producing the metal, used in the automotive, packaging, construction industries among others, is highly energy-intensive.
Without sanctions against Russian imports, the future for European production would be at risk, Aasheim said, because Europe's producers, facing soaring energy costs, would be unable to compete against Russian rivals.
"It is an energy-intensive business, and when the gas has been cut from Russia we see the effect on the power prices, so what is important over time is to get in more renewable power," she said.
Aasheim's comments echoed those of U.S. peer Alcoa's AA.N, which is urging the White House to block U.S. imports of the metal from Russia.
With recession looming, however, some business groups say bans on Russian aluminium would decimate European industry.
(Reporting by Victoria Klesty, editing by Gwladys Fouche and Terje Solsvik)
((victoria.klesty@thomsonreuters.com; +47 2331 6592; Reuters Messaging: victoria.klesty.thomsonreuters.com@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | "We want to urge sanctions in both Europe and the US," Hydro CEO Hilde Merete Aasheim told Reuters. Aasheim's comments echoed those of U.S. peer Alcoa's AA.N, which is urging the White House to block U.S. imports of the metal from Russia. Without sanctions against Russian imports, the future for European production would be at risk, Aasheim said, because Europe's producers, facing soaring energy costs, would be unable to compete against Russian rivals. | "We want to urge sanctions in both Europe and the US," Hydro CEO Hilde Merete Aasheim told Reuters. Without sanctions against Russian imports, the future for European production would be at risk, Aasheim said, because Europe's producers, facing soaring energy costs, would be unable to compete against Russian rivals. Aasheim's comments echoed those of U.S. peer Alcoa's AA.N, which is urging the White House to block U.S. imports of the metal from Russia. | Without sanctions against Russian imports, the future for European production would be at risk, Aasheim said, because Europe's producers, facing soaring energy costs, would be unable to compete against Russian rivals. "We want to urge sanctions in both Europe and the US," Hydro CEO Hilde Merete Aasheim told Reuters. Aasheim's comments echoed those of U.S. peer Alcoa's AA.N, which is urging the White House to block U.S. imports of the metal from Russia. | "We want to urge sanctions in both Europe and the US," Hydro CEO Hilde Merete Aasheim told Reuters. Without sanctions against Russian imports, the future for European production would be at risk, Aasheim said, because Europe's producers, facing soaring energy costs, would be unable to compete against Russian rivals. Aasheim's comments echoed those of U.S. peer Alcoa's AA.N, which is urging the White House to block U.S. imports of the metal from Russia. | 24ac113b-1d1c-4476-8236-3420a375a0f6 |
628.0 | 2022-10-24 00:00:00 UTC | Business groups say bans on Russian aluminium will decimate European industry | AA | https://www.nasdaq.com/articles/business-groups-say-bans-on-russian-aluminium-will-decimate-european-industry | nan | nan | Oct 24 (Reuters) - Five European industry associations said on Monday they had urged European authorities to prevent sanctions, tariffs or boycotts against Russian aluminium that they said could put thousands of companies out of business.
Russia's Rusal RUAL.MM, 0486.HK produces around 6% of the world's aluminium. This metal has not been targeted by Western sanctions against Russia following its invasion of Ukraine.
But the U.S. is considering restrictions on Russian aluminium imports and the London Metal Exchange (LME), the biggest metals trade hub, is asking members if it should ban Russian material from its system.
Some companies have said they will stop buying Russian aluminium and others, such as U.S. producer Alcoa AA.N, are lobbying for measures against Russian metal.
In a joint statement, the associations said they sent a letter to EU authorities and "requested the urgent intervention of the European Commission and of EU member states against threats of bans, high tariffs or sanctions on Russian aluminium which represent an imminent and vital threat to the European aluminium industry."
The statement said those boycotting or calling for measures against Russian metal "are either its main competitors or they enjoy supply options that are not available to the vast majority of the European aluminium value-chain."
For smaller users of aluminium in Europe, measures against Russian metal risked "potentially thousands of company closures and tens of thousands more unemployed in Europe as a direct consequence," it said.
European industry is under pressure from high inflation and rapidly slowing economic growth, while high energy prices have led to the closure of more than a million tonnes of aluminium production in Europe since 2021.
In 2018, after the United States sanctioned Rusal and the LME blocked its metal, aluminium prices CMAL3 shot up 35% in a matter of days.
The five associations are the Federation of Aluminium Consumers in Europe (FACE), the German Federal Association for Economic Development and Foreign Trade (BWA), the Italian Foundry Suppliers' Association (Amafond), the Italian National Association of Steels, Metals, Scrap, Hardware (Assofermet) and the Italian Foundry Association (Assofond).
EXPLAINER-Will market mayhem erupt if US bans Russian aluminium?
Russian aluminium producer Rusal reshuffles sales team
Banning Russian aluminium would create uncertainty about LME's role -Rusal
(Reporting by Peter Hobson and Pratima Desai; Editing by Bernadette Baum)
((Peter.hobson@thomsonreuters.com))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Some companies have said they will stop buying Russian aluminium and others, such as U.S. producer Alcoa AA.N, are lobbying for measures against Russian metal. The statement said those boycotting or calling for measures against Russian metal "are either its main competitors or they enjoy supply options that are not available to the vast majority of the European aluminium value-chain." In 2018, after the United States sanctioned Rusal and the LME blocked its metal, aluminium prices CMAL3 shot up 35% in a matter of days. | Some companies have said they will stop buying Russian aluminium and others, such as U.S. producer Alcoa AA.N, are lobbying for measures against Russian metal. In a joint statement, the associations said they sent a letter to EU authorities and "requested the urgent intervention of the European Commission and of EU member states against threats of bans, high tariffs or sanctions on Russian aluminium which represent an imminent and vital threat to the European aluminium industry." The five associations are the Federation of Aluminium Consumers in Europe (FACE), the German Federal Association for Economic Development and Foreign Trade (BWA), the Italian Foundry Suppliers' Association (Amafond), the Italian National Association of Steels, Metals, Scrap, Hardware (Assofermet) and the Italian Foundry Association (Assofond). | Some companies have said they will stop buying Russian aluminium and others, such as U.S. producer Alcoa AA.N, are lobbying for measures against Russian metal. In a joint statement, the associations said they sent a letter to EU authorities and "requested the urgent intervention of the European Commission and of EU member states against threats of bans, high tariffs or sanctions on Russian aluminium which represent an imminent and vital threat to the European aluminium industry." The five associations are the Federation of Aluminium Consumers in Europe (FACE), the German Federal Association for Economic Development and Foreign Trade (BWA), the Italian Foundry Suppliers' Association (Amafond), the Italian National Association of Steels, Metals, Scrap, Hardware (Assofermet) and the Italian Foundry Association (Assofond). | Some companies have said they will stop buying Russian aluminium and others, such as U.S. producer Alcoa AA.N, are lobbying for measures against Russian metal. Oct 24 (Reuters) - Five European industry associations said on Monday they had urged European authorities to prevent sanctions, tariffs or boycotts against Russian aluminium that they said could put thousands of companies out of business. Russia's Rusal RUAL.MM, 0486.HK produces around 6% of the world's aluminium. | a3a594bd-557f-4e7a-9a97-5f7b870e31b9 |
629.0 | 2022-10-20 00:00:00 UTC | See How Alcoa Corporation Ranks Among Analysts' Top Metals Picks | AA | https://www.nasdaq.com/articles/see-how-alcoa-corporation-ranks-among-analysts-top-metals-picks | nan | nan | A study of analyst recommendations at the major brokerages shows that Alcoa Corporation (Symbol: AA) is the #29 broker analyst pick, on average, out of the 50 stocks making up the Metals Channel Global Mining Titans Index, according to Metals Channel. The Metals Channel Global Mining Titans Index is comprised of the top fifty global leaders from the metals and mining sector. The companies listed in the Metals Channel Global Mining Titans Index are not fixed, but instead variable — updating on a continuous basis to reflect the changing market environment with respect to commodity prices, government policy and market volatility.
In forming this rank, the analyst opinions from the major brokerage houses were tallied, and averaged; then, the underlying components of the Metals Channel Global Mining Titans Index were ranked according to those averages. Investors often interpret analyst opinions from different angles — when companies have a low rank among analysts, it isn't necessarily the case that investors should conclude that the stock will perform poorly. It can, of course, but a bullish investor could also take the contrarian angle and read into the data that there is lots of room for upside because the stock is so out of favor.
AA operates in the Metals Fabrication & Products sector, among companies like Johnson Controls International plc (JCI) which is down about 0.3% today, and Trane Technologies plc (TT) trading lower by about 0.7%. Below is a three month price history chart comparing the stock performance of AA, versus JCI and TT.
AA is currently trading up about 8.8% midday Thursday.
Analyst Favorites of the Metals Channel Global Mining Titans Index »
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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. | Below is a three month price history chart comparing the stock performance of AA, versus JCI and TT. A study of analyst recommendations at the major brokerages shows that Alcoa Corporation (Symbol: AA) is the #29 broker analyst pick, on average, out of the 50 stocks making up the Metals Channel Global Mining Titans Index, according to Metals Channel. AA operates in the Metals Fabrication & Products sector, among companies like Johnson Controls International plc (JCI) which is down about 0.3% today, and Trane Technologies plc (TT) trading lower by about 0.7%. | A study of analyst recommendations at the major brokerages shows that Alcoa Corporation (Symbol: AA) is the #29 broker analyst pick, on average, out of the 50 stocks making up the Metals Channel Global Mining Titans Index, according to Metals Channel. AA operates in the Metals Fabrication & Products sector, among companies like Johnson Controls International plc (JCI) which is down about 0.3% today, and Trane Technologies plc (TT) trading lower by about 0.7%. Below is a three month price history chart comparing the stock performance of AA, versus JCI and TT. | A study of analyst recommendations at the major brokerages shows that Alcoa Corporation (Symbol: AA) is the #29 broker analyst pick, on average, out of the 50 stocks making up the Metals Channel Global Mining Titans Index, according to Metals Channel. AA operates in the Metals Fabrication & Products sector, among companies like Johnson Controls International plc (JCI) which is down about 0.3% today, and Trane Technologies plc (TT) trading lower by about 0.7%. Below is a three month price history chart comparing the stock performance of AA, versus JCI and TT. | AA operates in the Metals Fabrication & Products sector, among companies like Johnson Controls International plc (JCI) which is down about 0.3% today, and Trane Technologies plc (TT) trading lower by about 0.7%. A study of analyst recommendations at the major brokerages shows that Alcoa Corporation (Symbol: AA) is the #29 broker analyst pick, on average, out of the 50 stocks making up the Metals Channel Global Mining Titans Index, according to Metals Channel. Below is a three month price history chart comparing the stock performance of AA, versus JCI and TT. | 36b52f99-6a9f-4f99-a83e-c30fa8b62a98 |
633.0 | 2022-10-14 00:00:00 UTC | En+ says Rusal remains in full compliance with U.S. regulations | AA | https://www.nasdaq.com/articles/en-says-rusal-remains-in-full-compliance-with-u.s.-regulations | nan | nan | This content was produced in Russia where the law restricts coverage of Russian military operations in Ukraine
Adds details, quotes, context
MOSCOW, Oct 14 (Reuters) - The chairman of EN+, which owns a 57% stake in aluminium producer Rusal 0486.HK, dismissed media reports that Washington is weighing restricting imports of Russian metal, saying Rusal remained in full compliance with U.S. regulations.
Media reports on the possibility of import restrictions of Russian aluminium were "irresponsible market speculation," EN+ Chairman Christopher Burnham said.
Global aluminium prices soared after the news because Rusal is the world's largest aluminium producer outside China, supplying the world with 6% of its needs estimated at around 70 million tonnes this year.
"The article is simply wrong ... We are committed to fulfilling our contracts in the USA and worldwide," Burnham said in a statement.
Rusal was subject to U.S. sanctions between April 2018 and early 2019, when its founder, businessman Oleg Deripaska agreed to relinquish control in exchange of removal of sanctions from the aluminium producer.
"When the U.S. sanctioned Rusal aluminium in that year, the LME price [the London Metal Exchange] jumped 29% and there was a scramble to find alternative material by U.S. manufacturers," Burnham said.
"Irresponsible market speculation of this sort only benefits our competitors who have publicly advocated for restricting our market access, but hurts the American consumer and the U.S. economy," he added.
U.S.-based aluminium producer Alcoa Inc AA.N on Thursday said it is lobbying the White House to block American imports of the metal from Russia.
(Reporting by Polina Devitt; Editing by Jan Harvey and David Evans)
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | U.S.-based aluminium producer Alcoa Inc AA.N on Thursday said it is lobbying the White House to block American imports of the metal from Russia. This content was produced in Russia where the law restricts coverage of Russian military operations in Ukraine Adds details, quotes, context MOSCOW, Oct 14 (Reuters) - The chairman of EN+, which owns a 57% stake in aluminium producer Rusal 0486.HK, dismissed media reports that Washington is weighing restricting imports of Russian metal, saying Rusal remained in full compliance with U.S. regulations. Media reports on the possibility of import restrictions of Russian aluminium were "irresponsible market speculation," EN+ Chairman Christopher Burnham said. | U.S.-based aluminium producer Alcoa Inc AA.N on Thursday said it is lobbying the White House to block American imports of the metal from Russia. This content was produced in Russia where the law restricts coverage of Russian military operations in Ukraine Adds details, quotes, context MOSCOW, Oct 14 (Reuters) - The chairman of EN+, which owns a 57% stake in aluminium producer Rusal 0486.HK, dismissed media reports that Washington is weighing restricting imports of Russian metal, saying Rusal remained in full compliance with U.S. regulations. Media reports on the possibility of import restrictions of Russian aluminium were "irresponsible market speculation," EN+ Chairman Christopher Burnham said. | U.S.-based aluminium producer Alcoa Inc AA.N on Thursday said it is lobbying the White House to block American imports of the metal from Russia. This content was produced in Russia where the law restricts coverage of Russian military operations in Ukraine Adds details, quotes, context MOSCOW, Oct 14 (Reuters) - The chairman of EN+, which owns a 57% stake in aluminium producer Rusal 0486.HK, dismissed media reports that Washington is weighing restricting imports of Russian metal, saying Rusal remained in full compliance with U.S. regulations. Media reports on the possibility of import restrictions of Russian aluminium were "irresponsible market speculation," EN+ Chairman Christopher Burnham said. | U.S.-based aluminium producer Alcoa Inc AA.N on Thursday said it is lobbying the White House to block American imports of the metal from Russia. Media reports on the possibility of import restrictions of Russian aluminium were "irresponsible market speculation," EN+ Chairman Christopher Burnham said. "The article is simply wrong ... We are committed to fulfilling our contracts in the USA and worldwide," Burnham said in a statement. | 0b5201e0-794b-4780-a65e-e584316bc410 |
642.0 | 2022-10-11 00:00:00 UTC | New Strong Sell Stocks for October 11th | AA | https://www.nasdaq.com/articles/new-strong-sell-stocks-for-october-11th | nan | nan | Here are three stocks added to the Zacks Rank #5 (Strong Sell) List today:
AppLovin APP is a providerof technology platform which enables developers to market, monetize, analyse and publish their apps. The Zacks Consensus Estimate for its current year earnings has been revised 56.5% downward over the last 60 days.
Aluminum Corp. of China Limited ACH is engaged in the production and distribution of alumina and primary aluminium. The Zacks Consensus Estimate for its current year earnings has been revised 23.0% downward over the last 60 days.
Alcoa AA is a global industry leader in bauxite, alumina and aluminium products. The Zacks Consensus Estimate for its current year earnings has been revised almost 16.8% downward over the last 60 days.
View the entire Zacks Rank #5 List.
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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 AA is a global industry leader in bauxite, alumina and aluminium products. Alcoa (AA): Free Stock Analysis Report Aluminum Corp. of China Limited ACH is engaged in the production and distribution of alumina and primary aluminium. | Alcoa (AA): Free Stock Analysis Report Alcoa AA is a global industry leader in bauxite, alumina and aluminium products. Aluminum Corporation of China Limited (ACH): Free Stock Analysis Report | Alcoa AA is a global industry leader in bauxite, alumina and aluminium products. Alcoa (AA): Free Stock Analysis Report Here are three stocks added to the Zacks Rank #5 (Strong Sell) List today: AppLovin APP is a providerof technology platform which enables developers to market, monetize, analyse and publish their apps. | Alcoa AA is a global industry leader in bauxite, alumina and aluminium products. Alcoa (AA): Free Stock Analysis Report >>Send me my free report on the top 5 EV stocks | 27cadc4a-1f34-4eed-b568-769978fde7a1 |
649.0 | 2022-09-30 00:00:00 UTC | How The Parts Add Up: SHE Headed For $97 | AA | https://www.nasdaq.com/articles/how-the-parts-add-up%3A-she-headed-for-%2497 | nan | nan | Looking at the underlying holdings of the ETFs in our coverage universe at ETF Channel, we have compared the trading price of each holding against the average analyst 12-month forward target price, and computed the weighted average implied analyst target price for the ETF itself. For the SPDR SSGA Gender Diversity Index ETF (Symbol: SHE), we found that the implied analyst target price for the ETF based upon its underlying holdings is $97.09 per unit.
With SHE trading at a recent price near $73.47 per unit, that means that analysts see 32.15% upside for this ETF looking through to the average analyst targets of the underlying holdings. Three of SHE's underlying holdings with notable upside to their analyst target prices are Alcoa Corporation (Symbol: AA), Aramark (Symbol: ARMK), and Illumina Inc (Symbol: ILMN). Although AA has traded at a recent price of $35.43/share, the average analyst target is 77.19% higher at $62.78/share. Similarly, ARMK has 32.97% upside from the recent share price of $31.36 if the average analyst target price of $41.70/share is reached, and analysts on average are expecting ILMN to reach a target price of $257.46/share, which is 32.84% above the recent price of $193.81. Below is a twelve month price history chart comparing the stock performance of AA, ARMK, and ILMN:
Below is a summary table of the current analyst target prices discussed above:
NAME SYMBOL RECENT PRICE AVG. ANALYST 12-MO. TARGET % UPSIDE TO TARGET
SPDR SSGA Gender Diversity Index ETF SHE $73.47 $97.09 32.15%
Alcoa Corporation AA $35.43 $62.78 77.19%
Aramark ARMK $31.36 $41.70 32.97%
Illumina Inc ILMN $193.81 $257.46 32.84%
Are analysts justified in these targets, or overly optimistic about where these stocks will be trading 12 months from now? Do the analysts have a valid justification for their targets, or are they behind the curve on recent company and industry developments? A high price target relative to a stock's trading price can reflect optimism about the future, but can also be a precursor to target price downgrades if the targets were a relic of the past. These are questions that require further investor research.
10 ETFs With Most Upside To Analyst Targets »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Although AA has traded at a recent price of $35.43/share, the average analyst target is 77.19% higher at $62.78/share. SPDR SSGA Gender Diversity Index ETF SHE $73.47 $97.09 32.15% Alcoa Corporation AA $35.43 $62.78 77.19% Aramark ARMK $31.36 $41.70 32.97% Illumina Inc ILMN $193.81 $257.46 32.84% Are analysts justified in these targets, or overly optimistic about where these stocks will be trading 12 months from now? Three of SHE's underlying holdings with notable upside to their analyst target prices are Alcoa Corporation (Symbol: AA), Aramark (Symbol: ARMK), and Illumina Inc (Symbol: ILMN). | Three of SHE's underlying holdings with notable upside to their analyst target prices are Alcoa Corporation (Symbol: AA), Aramark (Symbol: ARMK), and Illumina Inc (Symbol: ILMN). SPDR SSGA Gender Diversity Index ETF SHE $73.47 $97.09 32.15% Alcoa Corporation AA $35.43 $62.78 77.19% Aramark ARMK $31.36 $41.70 32.97% Illumina Inc ILMN $193.81 $257.46 32.84% Are analysts justified in these targets, or overly optimistic about where these stocks will be trading 12 months from now? Although AA has traded at a recent price of $35.43/share, the average analyst target is 77.19% higher at $62.78/share. | Three of SHE's underlying holdings with notable upside to their analyst target prices are Alcoa Corporation (Symbol: AA), Aramark (Symbol: ARMK), and Illumina Inc (Symbol: ILMN). Although AA has traded at a recent price of $35.43/share, the average analyst target is 77.19% higher at $62.78/share. Below is a twelve month price history chart comparing the stock performance of AA, ARMK, and ILMN: Below is a summary table of the current analyst target prices discussed above: | SPDR SSGA Gender Diversity Index ETF SHE $73.47 $97.09 32.15% Alcoa Corporation AA $35.43 $62.78 77.19% Aramark ARMK $31.36 $41.70 32.97% Illumina Inc ILMN $193.81 $257.46 32.84% Are analysts justified in these targets, or overly optimistic about where these stocks will be trading 12 months from now? Three of SHE's underlying holdings with notable upside to their analyst target prices are Alcoa Corporation (Symbol: AA), Aramark (Symbol: ARMK), and Illumina Inc (Symbol: ILMN). Although AA has traded at a recent price of $35.43/share, the average analyst target is 77.19% higher at $62.78/share. | bad5be28-a0ae-4d49-93dc-44e224fcc09b |
652.0 | 2022-09-24 00:00:00 UTC | It's Down 35% But Alcoa Corporation (NYSE:AA) Could Be Riskier Than It Looks | AA | https://www.nasdaq.com/articles/its-down-35-but-alcoa-corporation-nyse%3Aaa-could-be-riskier-than-it-looks | nan | nan | Alcoa Corporation (NYSE:AA) shareholders that were waiting for something to happen have been dealt a blow with a 35% share price drop in the last month. Instead of being rewarded, shareholders who have already held through the last twelve months are now sitting on a 27% share price drop.
Since its price has dipped substantially, Alcoa may be sending very bullish signals at the moment with its price-to-earnings (or "P/E") ratio of 6.6x, since almost half of all companies in the United States have P/E ratios greater than 14x and even P/E's higher than 27x are not unusual. Although, it's not wise to just take the P/E at face value as there may be an explanation why it's so limited.
Alcoa certainly has been doing a good job lately as it's been growing earnings more than most other companies. One possibility is that the P/E is low because investors think this strong earnings performance might be less impressive moving forward. If not, then existing shareholders have reason to be quite optimistic about the future direction of the share price.
NYSE:AA Price Based on Past Earnings September 24th 2022
Want the full picture on analyst estimates for the company? Then our free report on Alcoa will help you uncover what's on the horizon.
What Are Growth Metrics Telling Us About The Low P/E?
Alcoa's P/E ratio would be typical for a company that's expected to deliver very poor growth or even falling earnings, and importantly, perform much worse than the market.
If we review the last year of earnings growth, the company posted a terrific increase of 125%. Although, its longer-term performance hasn't been as strong with three-year EPS growth being relatively non-existent overall. Accordingly, shareholders probably wouldn't have been overly satisfied with the unstable medium-term growth rates.
Turning to the outlook, the next three years should generate growth of 8.4% per annum as estimated by the ten analysts watching the company. That's shaping up to be similar to the 9.7% per year growth forecast for the broader market.
With this information, we find it odd that Alcoa is trading at a P/E lower than the market. It may be that most investors are not convinced the company can achieve future growth expectations.
The Final Word
Shares in Alcoa have plummeted and its P/E is now low enough to touch the ground. Generally, our preference is to limit the use of the price-to-earnings ratio to establishing what the market thinks about the overall health of a company.
We've established that Alcoa currently trades on a lower than expected P/E since its forecast growth is in line with the wider market. When we see an average earnings outlook with market-like growth, we assume potential risks are what might be placing pressure on the P/E ratio. At least the risk of a price drop looks to be subdued, but investors seem to think future earnings could see some volatility.
And what about other risks? Every company has them, and we've spotted 2 warning signs for Alcoa (of which 1 is potentially serious!) you should know about.
If these risks are making you reconsider your opinion on Alcoa, explore our interactive list of high quality stocks to get an idea of what else is out there.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Alcoa Corporation (NYSE:AA) shareholders that were waiting for something to happen have been dealt a blow with a 35% share price drop in the last month. NYSE:AA Price Based on Past Earnings September 24th 2022 Want the full picture on analyst estimates for the company? Alcoa's P/E ratio would be typical for a company that's expected to deliver very poor growth or even falling earnings, and importantly, perform much worse than the market. | NYSE:AA Price Based on Past Earnings September 24th 2022 Want the full picture on analyst estimates for the company? Alcoa Corporation (NYSE:AA) shareholders that were waiting for something to happen have been dealt a blow with a 35% share price drop in the last month. We've established that Alcoa currently trades on a lower than expected P/E since its forecast growth is in line with the wider market. | Alcoa Corporation (NYSE:AA) shareholders that were waiting for something to happen have been dealt a blow with a 35% share price drop in the last month. NYSE:AA Price Based on Past Earnings September 24th 2022 Want the full picture on analyst estimates for the company? Since its price has dipped substantially, Alcoa may be sending very bullish signals at the moment with its price-to-earnings (or "P/E") ratio of 6.6x, since almost half of all companies in the United States have P/E ratios greater than 14x and even P/E's higher than 27x are not unusual. | Alcoa Corporation (NYSE:AA) shareholders that were waiting for something to happen have been dealt a blow with a 35% share price drop in the last month. NYSE:AA Price Based on Past Earnings September 24th 2022 Want the full picture on analyst estimates for the company? Alcoa's P/E ratio would be typical for a company that's expected to deliver very poor growth or even falling earnings, and importantly, perform much worse than the market. | 2a495aae-6074-457c-97eb-1ba5b1f38463 |
668.0 | 2022-08-30 00:00:00 UTC | Why Is Alcoa (AA) Stock Down 10% Today? | AA | https://www.nasdaq.com/articles/why-is-alcoa-aa-stock-down-10-today | nan | nan | InvestorPlace - Stock Market News, Stock Advice & Trading Tips
It’s not a good day for the stock market, for copper and aluminum futures, or for Alcoa (NYSE:AA). Regarding the last item on that list, AA stock is down almost 10% so far on Tuesday. Shares are now down three days in a row and are about 15% off Friday’s high.
Energy costs are out of control. While Americans felt that gas prices were far too explosive coming into the summer, most seem to have no idea just how bad the situation in Europe is.
Whether it’s energy prices that are sinking small- and medium-sized businesses or shutting down smelters, the problem is ballooning at a rapid and alarming rate. That’s exactly what’s happening with Alcoa right now.
Alcoa recently announced it will cut one-third of its production at its plant in Lista, Norway. This is to help with the company’s high energy costs, which pays spot energy prices at its Lista location. Specifically, its Lista site has gone up to more than $600 per megawatt hour.
Alcoa isn’t the only company to lower its production primarily due to skyrocketing energy prices. Norsk Hydro (OTCMKTS:NHYDY) plans to close its Slovakia facility by the end of September.
Not an Easy Time for AA Stock
If Alcoa and Norway sound familiar, it’s likely because the company has had a tough time lately. Alcoa faced a strike at its Mosjoen, Norway, aluminum smelter. Further, after citing “operational challenges,” the company cut production at one of its Indiana plants.
As for AA stock, the share price was performing better over the summer. However, the latest stock market correction has not been treating the stock all that well. Just a few days after hitting its 2022 low in July, Alcoa delivered a top- and bottom-line earnings beat. It also announced a $500 million buyback. For a company with a sub-$10 billion market capitalization, that’s no small sum.
At one point, AA stock rallied in 11 straight daily sessions earlier this quarter. In all, the stock rallied almost 50% from its July low to the summer high, but it appears all of that good fortune is at risk.
Smelting production is coming offline, there are worries about global growth, and energy prices continue to soar. Will that doom Alcoa? It’s too early to say, but clearly there are some roadblocks popping up.
On the date of publication, Bret Kenwell did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell.
The post Why Is Alcoa (AA) Stock Down 10% Today? appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | InvestorPlace - Stock Market News, Stock Advice & Trading Tips It’s not a good day for the stock market, for copper and aluminum futures, or for Alcoa (NYSE:AA). Regarding the last item on that list, AA stock is down almost 10% so far on Tuesday. Not an Easy Time for AA Stock If Alcoa and Norway sound familiar, it’s likely because the company has had a tough time lately. | InvestorPlace - Stock Market News, Stock Advice & Trading Tips It’s not a good day for the stock market, for copper and aluminum futures, or for Alcoa (NYSE:AA). Regarding the last item on that list, AA stock is down almost 10% so far on Tuesday. Not an Easy Time for AA Stock If Alcoa and Norway sound familiar, it’s likely because the company has had a tough time lately. | InvestorPlace - Stock Market News, Stock Advice & Trading Tips It’s not a good day for the stock market, for copper and aluminum futures, or for Alcoa (NYSE:AA). Not an Easy Time for AA Stock If Alcoa and Norway sound familiar, it’s likely because the company has had a tough time lately. Regarding the last item on that list, AA stock is down almost 10% so far on Tuesday. | InvestorPlace - Stock Market News, Stock Advice & Trading Tips It’s not a good day for the stock market, for copper and aluminum futures, or for Alcoa (NYSE:AA). Regarding the last item on that list, AA stock is down almost 10% so far on Tuesday. Not an Easy Time for AA Stock If Alcoa and Norway sound familiar, it’s likely because the company has had a tough time lately. | 805ab56a-ae83-44ba-bf7b-2fb4f35df18f |
669.0 | 2022-08-30 00:00:00 UTC | Why Freeport-McMoRan, Steel Dynamics, and Alcoa Plunged Today | AA | https://www.nasdaq.com/articles/why-freeport-mcmoran-steel-dynamics-and-alcoa-plunged-today | nan | nan | What happened
Shares of copper miner Freeport-McMoRan (NYSE: FCX), steelmaker Steel Dynamics (NASDAQ: STLD), and aluminum producer Alcoa (NYSE: AA) fell hard on Tuesday, down 6%, 6.3%, and 9.1%, respectively, as of 2:47 p.m. ET.
There wasn't any company-specific news that would explain the widespread declines, although Alcoa did issue a press release saying it would shut down part of one of its smelters in Norway due to high energy costs.
That could be why it fell more than the others, but when commodity-related stocks such as these fall across the board, the likely culprit is recession fears. That's what the market got today, after another "good news is bad news" data release this morning.
So what
Freeport mines for copper, gold, and molybdenum, but its largest segment is in copper, which is used all across the economy, from semiconductors to EVs to construction. Steel Dynamics makes a variety of steel products for a diverse range of end markets, from construction to autos, and Alcoa makes aluminum for industrial and construction markets.
So each mines a commodity that is sensitive to economic conditions, and today, investors began to fear a recession next year in a bigger way. The pessimism began last Friday, when Jay Powell gave a very hawkish speech at the Fed's meeting in Jackson Hole, and was augmented today by strong economic data.
The Federal Reserve is concerned about inflation; while oil and gas prices get a lot of attention on that front, the Fed is actually very focused on the tight labor market. This morning, the Labor Department's July Job Openings and Labor Turnover Survey (JOLTS) data showed 11.2 million job openings, nearly 1 million above economists' forecasts. Meanwhile June's data was revised upwards, from 10.7 million to 11.0 million.
Additionally, The Conference Board released its consumer confidence survey for August, showing a reading of 103.2, above economists' forecast for 98. That showed improving consumer confidence after months of declines, likely due to falling gas prices.
Aren't robust job opportunities and higher consumer confidence good things, you might ask? Well, not when inflation is running at 8.5% and the Federal Reserve is trying to cool down, not speed up, the economy.
Thus, we are in a "good news on the economy is bad news for stocks" era, in which robust economic readings are leading to fears that the Federal Reserve will have to hike rates higher, faster, and perhaps longer. Looking ahead, some fear the Fed will go too far and tip the economy into a recession in order to get inflation under control.
If a recession occurs, demand for copper, steel, and aluminum will fall, taking prices down from the very high levels we have seen over the past year of shortages. That's why any company that mines or manufactures economically sensitive materials was down today.
Now what
Commodity stocks often look cheap, but remember, their earnings power can fluctuate wildly according to economic conditions. If investors think we can have a "soft landing" in which inflation slows without a bad recession, these stocks could very well be buys. Steel Dynamics looks particularly enticing, with a P/E ratio of just 3.6.
However, if we have a "hard landing" in which the economy slows markedly, all bets are off, as there is really no telling where copper, steel, or aluminum prices could go in that scenario.
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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. | What happened Shares of copper miner Freeport-McMoRan (NYSE: FCX), steelmaker Steel Dynamics (NASDAQ: STLD), and aluminum producer Alcoa (NYSE: AA) fell hard on Tuesday, down 6%, 6.3%, and 9.1%, respectively, as of 2:47 p.m. There wasn't any company-specific news that would explain the widespread declines, although Alcoa did issue a press release saying it would shut down part of one of its smelters in Norway due to high energy costs. The pessimism began last Friday, when Jay Powell gave a very hawkish speech at the Fed's meeting in Jackson Hole, and was augmented today by strong economic data. | What happened Shares of copper miner Freeport-McMoRan (NYSE: FCX), steelmaker Steel Dynamics (NASDAQ: STLD), and aluminum producer Alcoa (NYSE: AA) fell hard on Tuesday, down 6%, 6.3%, and 9.1%, respectively, as of 2:47 p.m. This morning, the Labor Department's July Job Openings and Labor Turnover Survey (JOLTS) data showed 11.2 million job openings, nearly 1 million above economists' forecasts. Additionally, The Conference Board released its consumer confidence survey for August, showing a reading of 103.2, above economists' forecast for 98. | What happened Shares of copper miner Freeport-McMoRan (NYSE: FCX), steelmaker Steel Dynamics (NASDAQ: STLD), and aluminum producer Alcoa (NYSE: AA) fell hard on Tuesday, down 6%, 6.3%, and 9.1%, respectively, as of 2:47 p.m. Steel Dynamics makes a variety of steel products for a diverse range of end markets, from construction to autos, and Alcoa makes aluminum for industrial and construction markets. Thus, we are in a "good news on the economy is bad news for stocks" era, in which robust economic readings are leading to fears that the Federal Reserve will have to hike rates higher, faster, and perhaps longer. | What happened Shares of copper miner Freeport-McMoRan (NYSE: FCX), steelmaker Steel Dynamics (NASDAQ: STLD), and aluminum producer Alcoa (NYSE: AA) fell hard on Tuesday, down 6%, 6.3%, and 9.1%, respectively, as of 2:47 p.m. So each mines a commodity that is sensitive to economic conditions, and today, investors began to fear a recession next year in a bigger way. That showed improving consumer confidence after months of declines, likely due to falling gas prices. | a2230229-9cb7-4bfb-b924-99d2db2edaab |
670.0 | 2022-08-30 00:00:00 UTC | Alcoa To Curtail One Third Of Its Production Capacity At Lista Smelter | AA | https://www.nasdaq.com/articles/alcoa-to-curtail-one-third-of-its-production-capacity-at-lista-smelter | nan | nan | (RTTNews) - Alcoa (AA) said the company will curtail one third of its production capacity at its Lista smelter in Norway to mitigate high energy costs for the site. The curtailment of one potline, or approximately 31,000 metric tons, will begin immediately and is expected to be complete within 14 days. The company said the employees will remain to complete an orderly shutdown of the one potline and to be ready in the event of a restart.
The company noted that the site is currently exposed to spot energy pricing, which has increased to above $600 per megawatt hour.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (RTTNews) - Alcoa (AA) said the company will curtail one third of its production capacity at its Lista smelter in Norway to mitigate high energy costs for the site. The curtailment of one potline, or approximately 31,000 metric tons, will begin immediately and is expected to be complete within 14 days. The company noted that the site is currently exposed to spot energy pricing, which has increased to above $600 per megawatt hour. | (RTTNews) - Alcoa (AA) said the company will curtail one third of its production capacity at its Lista smelter in Norway to mitigate high energy costs for the site. The curtailment of one potline, or approximately 31,000 metric tons, will begin immediately and is expected to be complete within 14 days. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (RTTNews) - Alcoa (AA) said the company will curtail one third of its production capacity at its Lista smelter in Norway to mitigate high energy costs for the site. The company said the employees will remain to complete an orderly shutdown of the one potline and to be ready in the event of a restart. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (RTTNews) - Alcoa (AA) said the company will curtail one third of its production capacity at its Lista smelter in Norway to mitigate high energy costs for the site. The curtailment of one potline, or approximately 31,000 metric tons, will begin immediately and is expected to be complete within 14 days. The company said the employees will remain to complete an orderly shutdown of the one potline and to be ready in the event of a restart. | 8ea70a55-16dc-4864-bb19-e1ee54982689 |
672.0 | 2022-08-30 00:00:00 UTC | ANALYSIS-Development banks under pressure to compensate harmed communities | AA | https://www.nasdaq.com/articles/analysis-development-banks-under-pressure-to-compensate-harmed-communities | nan | nan | By Emma Rumney, Simon Jessop and Sofia Christensen
Aug 30 (Reuters) - Mamadou Lamarana was hoping the World Bank's financial involvement in a western Guinean bauxite mine expansion would lead to compensation for the loss of land and pollution he says his community suffered in the run up to their resettlement in 2020.
The 38-year-old electrician and representatives from 12 other villages complained three years ago to World Bank affiliate International Finance Corporation (IFC) that the project developer, state-backed Compagnies des Bauxites de Guinee (CBG), had not made up for damage it had caused since 1973.
The villagers say they want their mined land rehabilitated and their communities compensated. They hoped the IFC, which contributed $200 million to finance the mine's expansion, would come through for them.
But the IFC and other major development banks, such as the Asian Development Bank and the African Development Bank, have long resisted compensating communities impacted by the projects they finance, even as they acknowledge developers often fall short.
A rise in complaints about projects such as those in Guinea have prompted activists to push development banks to contribute to compensation.
One activist group, the non-profit Accountability Counsel, points to a 231% rise in complaints between 2009 and 2019 as evidence development banks are backing projects without regard for communities. Just 16.4% of 1,614 complaints filed since 1994 have reached a formal conclusion, it added.
An IFC spokesperson said the bank was working closely with CBG to address villagers' concerns and that it was committed to the mediation process.
Instead of compensation, the IFC points to its independent complaints process which facilitates talks between project developers and communities, as well as recommends changes to the bank's rulebook for future projects.
In the case of the mine in Guinea, the mediation talks were pre-empted. CBG, which is partly owned by Rio Tinto Plc RIO.L and Alcoa Corp AA.N, relocated Lamarana's village on the eve of the scheduled negotiations in 2020.
CBG had promised 56 hectares of farmland to Lamarana's community but delivered only 22 hectares, Lamarana said. The new land had been previously mined and was shorn of the topsoil needed to grow food for a living, he added.
"They told us our new village would be like a mirror of Africa, because it would be so beautiful. But they did not do that," Lamarana said in an interview.
A CBG spokesperson said the company was committed to restoring all of the farmland and was sponsoring livelihood restoration programmes including on poultry production and sustainable agriculture.
The spokesperson also said CBG had paid some cash or in-kind compensation for affected land, crops and trees, but declined to give a figure, citing confidentiality requirements.
Lamarana said he had received several small payments as the mine gradually encroached on his land, but argues he and the community are entitled to more. He declined to say how much he received in compensation, citing the ongoing negotiations.
The IFC spokesperson told Reuters it was considering a new framework that could include financial support or in-kind actions by the IFC for the affected communities "in exceptional circumstances," without specifying what those circumstances would be.
STRICTER REQUIREMENTS
David Pred, president of Inclusive Development International (IDI), a non-profit helping those harmed by development projects, said the IFC should stagger its loan disbursements and tie them to borrowers meeting its high environmental and social standards. It should also ask for money for compensation to be set aside upfront, he added.
"If the IFC did just those two things, the communities in (Guinea) would be in a very different place today in terms of being able to secure redress and it would have likely prevented a lot of the harms that we've seen since the expansion project got underway," Pred said.
The IFC does stagger disbursements for some compensation but it is not clear whether they did that for the CBG project.
The IFC spokesperson said the bank was considering requiring project developers to take out insurance as one option to cover the cost of potential compensation. However, the spokesperson added if project developers are saddled with too many costs they may be discouraged from working with the IFC in the first place.
"If we don't end up with the right balance in this framework, there is a concern we may lose business and have less of an impact," the spokesperson said.
(Reporting by Emma Rumney and Simmon Jessop in London and Sofia Christensen in Dakar; Editing by Greg Roumeliotis and Josie Kao)
((Greg.Roumeliotis@thomsonreuters.com; +1 646 223 6022; Reuters Messaging: greg.roumeliotis.thomsonreuters.com@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | CBG, which is partly owned by Rio Tinto Plc RIO.L and Alcoa Corp AA.N, relocated Lamarana's village on the eve of the scheduled negotiations in 2020. By Emma Rumney, Simon Jessop and Sofia Christensen Aug 30 (Reuters) - Mamadou Lamarana was hoping the World Bank's financial involvement in a western Guinean bauxite mine expansion would lead to compensation for the loss of land and pollution he says his community suffered in the run up to their resettlement in 2020. The 38-year-old electrician and representatives from 12 other villages complained three years ago to World Bank affiliate International Finance Corporation (IFC) that the project developer, state-backed Compagnies des Bauxites de Guinee (CBG), had not made up for damage it had caused since 1973. | CBG, which is partly owned by Rio Tinto Plc RIO.L and Alcoa Corp AA.N, relocated Lamarana's village on the eve of the scheduled negotiations in 2020. By Emma Rumney, Simon Jessop and Sofia Christensen Aug 30 (Reuters) - Mamadou Lamarana was hoping the World Bank's financial involvement in a western Guinean bauxite mine expansion would lead to compensation for the loss of land and pollution he says his community suffered in the run up to their resettlement in 2020. The 38-year-old electrician and representatives from 12 other villages complained three years ago to World Bank affiliate International Finance Corporation (IFC) that the project developer, state-backed Compagnies des Bauxites de Guinee (CBG), had not made up for damage it had caused since 1973. | CBG, which is partly owned by Rio Tinto Plc RIO.L and Alcoa Corp AA.N, relocated Lamarana's village on the eve of the scheduled negotiations in 2020. By Emma Rumney, Simon Jessop and Sofia Christensen Aug 30 (Reuters) - Mamadou Lamarana was hoping the World Bank's financial involvement in a western Guinean bauxite mine expansion would lead to compensation for the loss of land and pollution he says his community suffered in the run up to their resettlement in 2020. But the IFC and other major development banks, such as the Asian Development Bank and the African Development Bank, have long resisted compensating communities impacted by the projects they finance, even as they acknowledge developers often fall short. | CBG, which is partly owned by Rio Tinto Plc RIO.L and Alcoa Corp AA.N, relocated Lamarana's village on the eve of the scheduled negotiations in 2020. The villagers say they want their mined land rehabilitated and their communities compensated. But the IFC and other major development banks, such as the Asian Development Bank and the African Development Bank, have long resisted compensating communities impacted by the projects they finance, even as they acknowledge developers often fall short. | db03bde3-9f12-49ef-a7b4-4f17b16a394a |
674.0 | 2022-08-24 00:00:00 UTC | Norway electrochemical workers strike ends | AA | https://www.nasdaq.com/articles/norway-electrochemical-workers-strike-ends | nan | nan | OSLO, Aug 24 (Reuters) - A strike among Norwegian electrochemical industry workers ended on Wednesday after employers and workers agreed a wage deal, Norway's Federation of Norwegian Industries, which organises the employers, and affected companies said on Wednesday.
The strike, which started on Aug. 15, targeted several electrochemical plants, including Boliden's BOL.ST zinc smelter in Odda and Glencore's GLEN.L nickel refinery in Kristiansand as well as aluminium output at Norsk Hydro NHY.OL and Alcoa AA.N.
Swedish miner Boliden on Tuesday declared force majeure on zinc deliveries to Europe due to the strike action.
Norsk Hydro will resume normal operations at its Hydro Sunndal primary aluminium plant, the firm said in a statement on Wednesday, adding that delays to customers were expected to be "minor."
Silicon maker Elkem's ELK.OL Norwegian plants are expected to be back at normal capacity within a few days and the financial impact was expected to be "limited", the company said in a separate statement.
(Reporting by Victoria Klesty; Editing by David Gregorio)
((victoria.klesty@thomsonreuters.com; +47 2331 6592; Reuters Messaging: victoria.klesty.thomsonreuters.com@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The strike, which started on Aug. 15, targeted several electrochemical plants, including Boliden's BOL.ST zinc smelter in Odda and Glencore's GLEN.L nickel refinery in Kristiansand as well as aluminium output at Norsk Hydro NHY.OL and Alcoa AA.N. OSLO, Aug 24 (Reuters) - A strike among Norwegian electrochemical industry workers ended on Wednesday after employers and workers agreed a wage deal, Norway's Federation of Norwegian Industries, which organises the employers, and affected companies said on Wednesday. Swedish miner Boliden on Tuesday declared force majeure on zinc deliveries to Europe due to the strike action. | The strike, which started on Aug. 15, targeted several electrochemical plants, including Boliden's BOL.ST zinc smelter in Odda and Glencore's GLEN.L nickel refinery in Kristiansand as well as aluminium output at Norsk Hydro NHY.OL and Alcoa AA.N. OSLO, Aug 24 (Reuters) - A strike among Norwegian electrochemical industry workers ended on Wednesday after employers and workers agreed a wage deal, Norway's Federation of Norwegian Industries, which organises the employers, and affected companies said on Wednesday. Norsk Hydro will resume normal operations at its Hydro Sunndal primary aluminium plant, the firm said in a statement on Wednesday, adding that delays to customers were expected to be "minor." | The strike, which started on Aug. 15, targeted several electrochemical plants, including Boliden's BOL.ST zinc smelter in Odda and Glencore's GLEN.L nickel refinery in Kristiansand as well as aluminium output at Norsk Hydro NHY.OL and Alcoa AA.N. OSLO, Aug 24 (Reuters) - A strike among Norwegian electrochemical industry workers ended on Wednesday after employers and workers agreed a wage deal, Norway's Federation of Norwegian Industries, which organises the employers, and affected companies said on Wednesday. Norsk Hydro will resume normal operations at its Hydro Sunndal primary aluminium plant, the firm said in a statement on Wednesday, adding that delays to customers were expected to be "minor." | The strike, which started on Aug. 15, targeted several electrochemical plants, including Boliden's BOL.ST zinc smelter in Odda and Glencore's GLEN.L nickel refinery in Kristiansand as well as aluminium output at Norsk Hydro NHY.OL and Alcoa AA.N. OSLO, Aug 24 (Reuters) - A strike among Norwegian electrochemical industry workers ended on Wednesday after employers and workers agreed a wage deal, Norway's Federation of Norwegian Industries, which organises the employers, and affected companies said on Wednesday. Swedish miner Boliden on Tuesday declared force majeure on zinc deliveries to Europe due to the strike action. | c653d6b8-9c0b-4ec9-945f-53051e0c5ca3 |
675.0 | 2022-08-24 00:00:00 UTC | Wednesday's ETF with Unusual Volume: MDYV | AA | https://www.nasdaq.com/articles/wednesdays-etf-with-unusual-volume%3A-mdyv | nan | nan | The SPDR S&P 400 Mid Cap Value ETF (MDYV) is seeing unusually high volume in afternoon trading Wednesday, with over 5.9 million shares traded versus three month average volume of about 167,000. Shares of MDYV were down about 0.1% on the day.
Components of that ETF with the highest volume on Wednesday were Southwestern Energy (SWN), trading off about 4.1% with over 55.9 million shares changing hands so far this session, and Macy's (M), up about 3.8% on volume of over 29.3 million shares. Alcoa (AA) is the component faring the best Wednesday, up by about 5.6% on the day, while Nuvasive (NUVA) is lagging other components of the SPDR S&P 400 Mid Cap Value ETF, trading lower by about 5.2%.
VIDEO: Wednesday's ETF with Unusual Volume: MDYV
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Alcoa (AA) is the component faring the best Wednesday, up by about 5.6% on the day, while Nuvasive (NUVA) is lagging other components of the SPDR S&P 400 Mid Cap Value ETF, trading lower by about 5.2%. The SPDR S&P 400 Mid Cap Value ETF (MDYV) is seeing unusually high volume in afternoon trading Wednesday, with over 5.9 million shares traded versus three month average volume of about 167,000. Components of that ETF with the highest volume on Wednesday were Southwestern Energy (SWN), trading off about 4.1% with over 55.9 million shares changing hands so far this session, and Macy's (M), up about 3.8% on volume of over 29.3 million shares. | Alcoa (AA) is the component faring the best Wednesday, up by about 5.6% on the day, while Nuvasive (NUVA) is lagging other components of the SPDR S&P 400 Mid Cap Value ETF, trading lower by about 5.2%. The SPDR S&P 400 Mid Cap Value ETF (MDYV) is seeing unusually high volume in afternoon trading Wednesday, with over 5.9 million shares traded versus three month average volume of about 167,000. VIDEO: Wednesday's ETF with Unusual Volume: MDYV The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Alcoa (AA) is the component faring the best Wednesday, up by about 5.6% on the day, while Nuvasive (NUVA) is lagging other components of the SPDR S&P 400 Mid Cap Value ETF, trading lower by about 5.2%. The SPDR S&P 400 Mid Cap Value ETF (MDYV) is seeing unusually high volume in afternoon trading Wednesday, with over 5.9 million shares traded versus three month average volume of about 167,000. Components of that ETF with the highest volume on Wednesday were Southwestern Energy (SWN), trading off about 4.1% with over 55.9 million shares changing hands so far this session, and Macy's (M), up about 3.8% on volume of over 29.3 million shares. | Alcoa (AA) is the component faring the best Wednesday, up by about 5.6% on the day, while Nuvasive (NUVA) is lagging other components of the SPDR S&P 400 Mid Cap Value ETF, trading lower by about 5.2%. The SPDR S&P 400 Mid Cap Value ETF (MDYV) is seeing unusually high volume in afternoon trading Wednesday, with over 5.9 million shares traded versus three month average volume of about 167,000. VIDEO: Wednesday's ETF with Unusual Volume: MDYV The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | f61c06de-be5d-446a-8a16-462f38f52f03 |
676.0 | 2022-08-24 00:00:00 UTC | Alcoa Says Labor Strike Ends At Mosjoen Smelter In Norway | AA | https://www.nasdaq.com/articles/alcoa-says-labor-strike-ends-at-mosjoen-smelter-in-norway | nan | nan | (RTTNews) - Alcoa (AA) said that a solution has been reached on a labor dispute and strike has ended at its Mosjoen smelter in Norway.
The strike began on Monday, August 22, 2022, and affected numerous industrial plants representing the Norwegian electrochemical industry.
Negotiations were between Industri Energi, which represents workers, and Norsk Industri, which is a federation of Norwegian industries that includes Alcoa. Now that the parties have reached a solution, Mosjoen will resume normal operations, including shipping products to customers, Alcoa said.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (RTTNews) - Alcoa (AA) said that a solution has been reached on a labor dispute and strike has ended at its Mosjoen smelter in Norway. The strike began on Monday, August 22, 2022, and affected numerous industrial plants representing the Norwegian electrochemical industry. Now that the parties have reached a solution, Mosjoen will resume normal operations, including shipping products to customers, Alcoa said. | (RTTNews) - Alcoa (AA) said that a solution has been reached on a labor dispute and strike has ended at its Mosjoen smelter in Norway. The strike began on Monday, August 22, 2022, and affected numerous industrial plants representing the Norwegian electrochemical industry. Negotiations were between Industri Energi, which represents workers, and Norsk Industri, which is a federation of Norwegian industries that includes Alcoa. | (RTTNews) - Alcoa (AA) said that a solution has been reached on a labor dispute and strike has ended at its Mosjoen smelter in Norway. The strike began on Monday, August 22, 2022, and affected numerous industrial plants representing the Norwegian electrochemical industry. Negotiations were between Industri Energi, which represents workers, and Norsk Industri, which is a federation of Norwegian industries that includes Alcoa. | (RTTNews) - Alcoa (AA) said that a solution has been reached on a labor dispute and strike has ended at its Mosjoen smelter in Norway. The strike began on Monday, August 22, 2022, and affected numerous industrial plants representing the Norwegian electrochemical industry. Negotiations were between Industri Energi, which represents workers, and Norsk Industri, which is a federation of Norwegian industries that includes Alcoa. | ee94bab3-e64b-4a81-8146-0307a5ce319b |
677.0 | 2022-08-23 00:00:00 UTC | Boliden declares force majeure on zinc amid Norway strike | AA | https://www.nasdaq.com/articles/boliden-declares-force-majeure-on-zinc-amid-norway-strike | nan | nan | Adds quote, detail
COPENHAGEN, Aug 23 (Reuters) - Swedish miner Boliden BOL.ST has declared force majeure on zinc deliveries to Europe due to a strike among Norwegian electrochemical industry workers, although some production is still running, a company spokesperson said on Tuesday.
The strike, which started on Monday, is targeting several electrochemical plants, including Boliden's zinc smelter in Odda and Glencore's GLEN.L nickel refinery in Kristiansand as well as aluminium output at Norsk Hydro NHY.OL and Alcoa AA.N.
"Zinc production is still running to a certain extent but of course we wish for the situation to return to normal, not least to be able to meet demand from our customers," a Boliden spokesperson said in an emailed statement.
"The situation is however out of Boliden's control and difficult to foresee the development of," he added.
(Reporting by Stine Jacobsen, editing by Terje Solsvik)
((stine.jacobsen@thomsonreuters.com; +45 21 56 90 10; Reuters Messaging: stine.jacobsen.thomsonreuters.com@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The strike, which started on Monday, is targeting several electrochemical plants, including Boliden's zinc smelter in Odda and Glencore's GLEN.L nickel refinery in Kristiansand as well as aluminium output at Norsk Hydro NHY.OL and Alcoa AA.N. Adds quote, detail COPENHAGEN, Aug 23 (Reuters) - Swedish miner Boliden BOL.ST has declared force majeure on zinc deliveries to Europe due to a strike among Norwegian electrochemical industry workers, although some production is still running, a company spokesperson said on Tuesday. "Zinc production is still running to a certain extent but of course we wish for the situation to return to normal, not least to be able to meet demand from our customers," a Boliden spokesperson said in an emailed statement. | The strike, which started on Monday, is targeting several electrochemical plants, including Boliden's zinc smelter in Odda and Glencore's GLEN.L nickel refinery in Kristiansand as well as aluminium output at Norsk Hydro NHY.OL and Alcoa AA.N. "Zinc production is still running to a certain extent but of course we wish for the situation to return to normal, not least to be able to meet demand from our customers," a Boliden spokesperson said in an emailed statement. (Reporting by Stine Jacobsen, editing by Terje Solsvik) ((stine.jacobsen@thomsonreuters.com; +45 21 56 90 10; Reuters Messaging: stine.jacobsen.thomsonreuters.com@reuters.net)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The strike, which started on Monday, is targeting several electrochemical plants, including Boliden's zinc smelter in Odda and Glencore's GLEN.L nickel refinery in Kristiansand as well as aluminium output at Norsk Hydro NHY.OL and Alcoa AA.N. Adds quote, detail COPENHAGEN, Aug 23 (Reuters) - Swedish miner Boliden BOL.ST has declared force majeure on zinc deliveries to Europe due to a strike among Norwegian electrochemical industry workers, although some production is still running, a company spokesperson said on Tuesday. "Zinc production is still running to a certain extent but of course we wish for the situation to return to normal, not least to be able to meet demand from our customers," a Boliden spokesperson said in an emailed statement. | The strike, which started on Monday, is targeting several electrochemical plants, including Boliden's zinc smelter in Odda and Glencore's GLEN.L nickel refinery in Kristiansand as well as aluminium output at Norsk Hydro NHY.OL and Alcoa AA.N. Adds quote, detail COPENHAGEN, Aug 23 (Reuters) - Swedish miner Boliden BOL.ST has declared force majeure on zinc deliveries to Europe due to a strike among Norwegian electrochemical industry workers, although some production is still running, a company spokesperson said on Tuesday. "Zinc production is still running to a certain extent but of course we wish for the situation to return to normal, not least to be able to meet demand from our customers," a Boliden spokesperson said in an emailed statement. | 5e9b0900-8d66-4cc5-b718-6cd6224acee0 |
682.0 | 2022-08-18 00:00:00 UTC | COLUMN-Power is the big new problem for industrial metals supply: Andy Home | AA | https://www.nasdaq.com/articles/column-power-is-the-big-new-problem-for-industrial-metals-supply%3A-andy-home | nan | nan | By Andy Home
LONDON, Aug 18 (Reuters) - Europe's power crunch is taking a rising toll on the region's industrial metals sector, with two more smelters this week announcing plans to halt operations.
Nyrstar NYR.BR will place its Budel zinc smelter in the Netherlands on care and maintenance from the start of September until further notice, while Norsk Hydro NHY.OL will fully power down its Slovalco aluminium smelter in Slovakia by the end of the same month.
More closures will likely follow. Smelting raw materials into refined metal is an energy-intensive process and Europe's power crisis shows no signs of abating and may indeed get worse heading into winter.
It's hot summer weather that's the problem for smelters right now in China though. Drought in Sichuan province has led to power rationing, forcing metals processing plants to curtail output. Lithium operators are included, a warning that the energy transition metals are themselves dependent on existing power availability.
Getting sufficient quantities of minerals out of the ground to meet green demand is challenging enough. Getting enough power to process them into refined metal is now fast emerging as a big new problem for supply.
POWERING DOWN IN EUROPE
Budel is the second zinc plant to close in Europe after Glencore GLEN.L mothballed its Portovesme facility in Italy late last year.
Nyrstar referred only to "various external factors" in its decision to shutter Budel but power pricing has to be top of the list. The 315,000-tonne-per-year smelter was already operating at reduced capacity due to soaring power costs, as are both of Nyrstar's still-operating smelters in France and Belgium.
Glencore conceded on its results conference call that its zinc smelting business is barely covering its costs and warned that European power prices pose a significant supply risk to the global zinc market.
Aluminium smelters are even more dependent on affordable power since alumina is transformed into metal by a process of electrolysis.
Slovalco is the fourth European smelter to close over the last 12 months. Alcoa AA.N has taken its San Ciprian smelter in Spain off line for two years while primary smelters in the Netherlands and Montenegro have also come to a halt.
Others such as Romania's Alro have part-idled capacity and all are modulating run-rates to avoid peak usage times.
Western European annualised aluminium production has fallen below three million tonnes for the first time this century with the rising risk that temporary curtailments could become permanent if there is no respite from the energy storm.
The power hit to the region's processing capacity bodes ill for both the European Union's energy transition plans, which will need a lot more metal, and its strategic autonomy drive, which means more of that metal should be mined and refined in Europe.
SHUTDOWNS IN SICHUAN
China's series of extreme heat waves and drought is simultaneously boosting electricity demand and lowering generation capacity in hydro-powered provinces such as Sichuan.
Industrial users across 19 out of 21 cities in the province have been ordered to halt or cut production so power can be prioritised for homes.
Aluminium producers such as Henan Zhongfu Industrial 600595.SS are curtailing output with Shanghai Metal Market estimating the cumulative capacity cuts have reached 395,000 tonnes.
This is a repeat of last year's drought in neighbouring Yunnan province which also led to multiple smelter curtailments in what is an even bigger aluminium production hub.
Sichuan is also a big lithium producer and several local processors are running reduced operations due to power rationing, according to Fastmarkets, which has just lifted its assessment of the local spot carbonate price.
Power rationing is now spreading to other provinces and the pressures on the grid will persist until the heat wave, now in its 65th day, finally breaks.
LIVING WITH CLIMATE CHANGE
Europe's power crisis is a direct consequence of what Russia calls its "special military operation" in Ukraine and the restrictions on west-bound gas supplies.
What's happening in China, however, is a warning that European power availability and pricing might never return to some sort of pre-war normal.
Global warming poses huge challenges for power generation and grid stability, adding to the problems of decarbonising the whole sector. Ironically, green hydro energy is particularly sensitive to changes in weather patterns as Sichuan is finding out.
Temperatures in China have been rising faster than the rest of the world and are expected to continue doing so, according to Yuan Jiashuang, vice-director of China's National Climate Center (NCC).
This poses a significant long-term threat for industrial metals markets since China is the world's largest processor of everything from aluminium to zinc.
NEW DISRUPTOR
The pricing dynamics of metals such as zinc tend to derive from changes in mine output, the costliest part of the production process and the one most prone to unexpected disruption.
The existence of sufficient smelting and refining capacity to treat what comes out of the mines has historically been something of a given. Even if the occasional smelter was retired or closed, China always seemed to have spare capacity to compensate.
Aluminium is something of an exception. Bauxite is plentiful and cheap to mine, meaning smelter output is the key determinant of supply. But smelter outages have historically been rare and largely down to worker stoppages or acts of God such as lightning strikes.
All that is changing. Smelting aluminium or any other industrial metal for that matter is no longer the efficient supply-chain processing channel it used to be.
Power is the Achilles heel of all industrial production plants and all metals are to some extent impacted.
This new disruptor adds an extra layer of complexity to the metals supply picture. Power rationing tends to be localised by its very nature, dependent on specific dynamics such as those in Europe or weather patterns such as drought in Sichuan.
It is manifest in a greater fragmentation of the London Metal Exchange (LME) global reference price and regional physical premiums.
The LME aluminium price has shrugged off the Slovalco news, the market collectively calculating that there is no global shortage of aluminium.
But there is in Europe, where physical buyers are paying more than $500 per tonne over and above the LME price to get their metal. Such a premium was unprecedented until Europe's power problems began to build last year.
Expect more such futures-physical divergence because the metal industry's smelter problems look here to stay.
The opinions expressed here are those of the author, a columnist for Reuters.
Bad news for zinc smelters as European power crunch shows no signs of abatinghttps://tmsnrt.rs/3BShnw7
European aluminium production melt-downhttps://tmsnrt.rs/3xO1sM2
(Editing by Kirsten Donovan)
((andy.home@thomsonreuters.com, 44-207-542-4412 and on Twitter https://twitter.com/AndyHomeMetals))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Alcoa AA.N has taken its San Ciprian smelter in Spain off line for two years while primary smelters in the Netherlands and Montenegro have also come to a halt. By Andy Home LONDON, Aug 18 (Reuters) - Europe's power crunch is taking a rising toll on the region's industrial metals sector, with two more smelters this week announcing plans to halt operations. Smelting raw materials into refined metal is an energy-intensive process and Europe's power crisis shows no signs of abating and may indeed get worse heading into winter. | Alcoa AA.N has taken its San Ciprian smelter in Spain off line for two years while primary smelters in the Netherlands and Montenegro have also come to a halt. By Andy Home LONDON, Aug 18 (Reuters) - Europe's power crunch is taking a rising toll on the region's industrial metals sector, with two more smelters this week announcing plans to halt operations. Drought in Sichuan province has led to power rationing, forcing metals processing plants to curtail output. | Alcoa AA.N has taken its San Ciprian smelter in Spain off line for two years while primary smelters in the Netherlands and Montenegro have also come to a halt. By Andy Home LONDON, Aug 18 (Reuters) - Europe's power crunch is taking a rising toll on the region's industrial metals sector, with two more smelters this week announcing plans to halt operations. The power hit to the region's processing capacity bodes ill for both the European Union's energy transition plans, which will need a lot more metal, and its strategic autonomy drive, which means more of that metal should be mined and refined in Europe. | Alcoa AA.N has taken its San Ciprian smelter in Spain off line for two years while primary smelters in the Netherlands and Montenegro have also come to a halt. It's hot summer weather that's the problem for smelters right now in China though. Drought in Sichuan province has led to power rationing, forcing metals processing plants to curtail output. | f3bf3de2-0b98-4901-8e19-6ea3b2d5fb43 |
686.0 | 2022-08-10 00:00:00 UTC | 7 A-Rated Stocks to Buy for Safety | AA | https://www.nasdaq.com/articles/7-a-rated-stocks-to-buy-for-safety | nan | nan | InvestorPlace - Stock Market News, Stock Advice & Trading Tips
When it comes to the economy and the stock market, the near term remains murky. It’s possible the market has mostly factored in inflation, interest rate hikes and recession risks. Then again, maybe not. Yet while uncertainty still runs high, that doesn’t mean staying on the sidelines is the best move. Instead, it’s best to seize opportunities, like A-rated safe stocks to buy.
Of course, risky stocks have been hard hit so far this year, but so have their less-risky counterparts. In fact, in some cases, safe, high-quality names have become oversold. Because those stocks are trading at very favorable valuations, now is a great time to lock down long-term positions.
Yes, the market could stay rocky through the rest of the year. Volatility could even carry on into 2023. However, with safe, high-quality stocks, further near-term downside risk is limited. On a longer time frame, each one offers solid upside potential.
So, what are the best safe stocks to buy today? Consider these seven. Each one earns an A rating in my Portfolio Grader.
AA Alcoa $52.98
DLTR Dollar Tree $165.99
ENPH Enphase Energy $303.87
MRO Marathon Oil $22.30
ON ON Semiconductor $66.16
PEP PepsiCo $176.05
ZIM ZIM Integrated Shipping $52.24
Alcoa (AA)
Source: Daniel J. Macy / Shutterstock.com
Like other commodity stocks, shares in Alcoa (NYSE:AA) soared earlier this year. Russia’s invasion of Ukraine, and the subsequent economic sanctions placed on Russia, resulted in a big spike in aluminum prices and, in turn, a spike in aluminum stock prices.
However, since the spring, aluminum prices have pulled back considerably. That’s when worries about falling demand (from a recession) began to outweigh the impact of tightening supply. Investor sentiment with AA stock has done a 180. After trading for as much as $98.09 per share, it’s fallen nearly 50% to just over $50 per share
But while it’s experienced a big plunge, further volatility may be limited. With its drop, Alcoa now trades at a highly discounted valuation (6.1x estimated 2022 earnings). As aluminum prices remain at multiyear highs, the company remains well-positioned to continue reporting strong earnings results.
Alcoa earns an A rating in my Portfolio Grader.
Dollar Tree (DLTR)
Source: shutterstock.com/Jonathan Weiss
It’s not surprising that Dollar Tree (NASDAQ:DLTR) shares are in the green for 2022, while the market at large is in the red. This discount retailer is both inflation-resistant and recession-resistant. Inflationary pressures have not had nearly the impact on discount retailers’ operating results as they have had on the results of big-box retailers.
Challenging economic conditions have helped to increase traffic to Dollar Tree’s stores, as seen from its same-store sales growth last quarter (4.4%). Continuing to deliver strong earnings growth, the nearly 20% rise in the price of DLTR stock since January is justified.
Even with this surge, don’t think you’ve missed out. At 20.3x earnings, it’s still favorably priced relative to its future prospects. Able to pass along rising costs to consumers, all while offering a strong value proposition for consumers squeezed by inflation, its operating results should remain strong going forward.
This stock earns an A rating in my Portfolio Grader.
Enphase Energy (ENPH)
Source: IgorGolovniov / Shutterstock.com
Enphase Energy (NASDAQ:ENPH) may seem like an odd choice to include on a list of safe stocks to buy. High-growth names like this maker of solar energy inverters and battery storage products are not typically considered safe stocks.
Sure, ENPH stock has made wild moves since late last year. After its most recent rally, it now sports a premium valuation (83.3x earnings). Yet while this may make buying it today look like a speculative wager, shares aren’t as risky as they appear.
Why? Trends are highly in Enphase’s favor. It’s experiencing strong demand in Europe, as solar use grows due to high energy prices. The climate bill making its way through Congress right now could also be a boon for its business. As prospects remain very bright, this stock (up 65% this year) could keep climbing.
This stock earns an A rating in my Portfolio Grader.
Marathon Oil (MRO)
Source: Valentin Martynov/Shutterstock.com
Green energy plays may have performed strongly lately, but 2022 has been a great year for fossil fuel stocks as well. For instance, Marathon Oil (NYSE:MRO), which is up more than 30% year to date thanks to the massive spike in crude oil and natural gas prices.
Yes, with crude oil falling back below $100 per barrel, MRO stock, like its exploration and production peers, has fallen back as well. However, far from a potential falling knife situation, you may want to consider buying shares after their recent dip.
Crude oil prices could hold steady at current levels through 2023. At least, that’s what the U.S. Energy Information Administration (or EIA) is forecasting. Assuming oil stays elevated compared to prior-year levels, Marathon earnings will stay elevated as well. This will allow it to continue its aggressive stock buyback program, which could move the needle further for shares.
This stock earns an A rating in my Portfolio Grader.
ON Semiconductor (ON)
Source: Shutterstock
ON Semiconductor (NASDAQ:ON) is a safe stock that the market has been overly cautious about. This maker of semiconductors for the auto industry and other industrial end-users has benefited from demand for chips outstripping supply. Last quarter, revenue was up 25% year over year (or YOY). Earnings more than doubled.
Still, it’s future results that are top of mind with investors when it comes to ON stock. Anticipating lower demand in a recession, shares trade at a low multiple (12.39 earnings), despite the recent growth.
However, it’s hardly a given that demand is on the verge of slacking. Add in the potential benefits from the recently passed CHIPS Act (which provides billions in subsidies for domestic chip makers), and the good times are likely to keep on rolling for ON Semiconductor.
This stock earns an A rating in my Portfolio Grader.
PepsiCo (PEP)
Source: suriyachan / Shutterstock.com
It’s not difficult to see why PepsiCo (NASDAQ:PEP) belongs in the safe stocks to buy category. It’s the type of business that performs well in good economic times and in bad economic times.
The beverage and snack foods giant also has been able to pass along rising costs to consumers, all while continuing to report organic sales growth. In this year’s down market, PEP stock has held steady. At present, it trades for basically what it traded for at the start of 2022.
Once today’s choppy market conditions pass, PepsiCo will likely get back on track delivering solid returns to investors. Shares will continue to move up in tandem with increased earnings. Add in the stock’s dividend (forward yield of 2.64%), which has been raised 49 years in a row, and buy and hold investors could see satisfactory total returns from adding it to their portfolios.
This stock earns an A rating in my Portfolio Grader.
ZIM Integrated Shipping Services (ZIM)
Source: Darryl Brooks / Shutterstock.com
With high expectations of an upcoming recession, cyclical stocks have fallen to super-low valuations. Few, however, have fallen to the fire-sale valuation ZIM Integrated Shipping Services (NYSE:ZIM) currently commands.
Currently, it trades for just 1.1x estimated 2022 earnings. Even when comparing its stock price to 2023 earnings forecasts, which call for its earnings to fall by more than 64%, its earnings multiple is extremely low (3.3x). It’s not as if things are set to go from boom to bust for this containership company, which has benefited greatly from the supply chain crisis.
Container shipping rates are declining, but they are not experiencing a precipitous plunge. Earnings could remain very high compared to pre-2021 levels. Put simply, pardon the pun when I say the ship hasn’t sailed with ZIM stock.
This stock earns an A rating in my Portfolio Grader.
On the date of publication, Louis Navellier had a long position in AA, ENPH, MRO, ON, PEP and ZIM. Louis Navellier did not have (either directly or indirectly) any other positions in the securities mentioned in this article. InvestorPlace Research Staff member primarily responsible for this article did not hold (either directly or indirectly) any positions in the securities mentioned in this article.
The post 7 A-Rated Stocks to Buy for Safety appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | AA Alcoa $52.98 DLTR Dollar Tree $165.99 ENPH Enphase Energy $303.87 MRO Marathon Oil $22.30 ON ON Semiconductor $66.16 PEP PepsiCo $176.05 ZIM ZIM Integrated Shipping $52.24 Alcoa (AA) Source: Daniel J. Macy / Shutterstock.com Like other commodity stocks, shares in Alcoa (NYSE:AA) soared earlier this year. Investor sentiment with AA stock has done a 180. On the date of publication, Louis Navellier had a long position in AA, ENPH, MRO, ON, PEP and ZIM. | AA Alcoa $52.98 DLTR Dollar Tree $165.99 ENPH Enphase Energy $303.87 MRO Marathon Oil $22.30 ON ON Semiconductor $66.16 PEP PepsiCo $176.05 ZIM ZIM Integrated Shipping $52.24 Alcoa (AA) Source: Daniel J. Macy / Shutterstock.com Like other commodity stocks, shares in Alcoa (NYSE:AA) soared earlier this year. Investor sentiment with AA stock has done a 180. On the date of publication, Louis Navellier had a long position in AA, ENPH, MRO, ON, PEP and ZIM. | AA Alcoa $52.98 DLTR Dollar Tree $165.99 ENPH Enphase Energy $303.87 MRO Marathon Oil $22.30 ON ON Semiconductor $66.16 PEP PepsiCo $176.05 ZIM ZIM Integrated Shipping $52.24 Alcoa (AA) Source: Daniel J. Macy / Shutterstock.com Like other commodity stocks, shares in Alcoa (NYSE:AA) soared earlier this year. Investor sentiment with AA stock has done a 180. On the date of publication, Louis Navellier had a long position in AA, ENPH, MRO, ON, PEP and ZIM. | AA Alcoa $52.98 DLTR Dollar Tree $165.99 ENPH Enphase Energy $303.87 MRO Marathon Oil $22.30 ON ON Semiconductor $66.16 PEP PepsiCo $176.05 ZIM ZIM Integrated Shipping $52.24 Alcoa (AA) Source: Daniel J. Macy / Shutterstock.com Like other commodity stocks, shares in Alcoa (NYSE:AA) soared earlier this year. Investor sentiment with AA stock has done a 180. On the date of publication, Louis Navellier had a long position in AA, ENPH, MRO, ON, PEP and ZIM. | 79715363-9e5b-4d8a-bbde-3b021305c13b |
695.0 | 2022-07-22 00:00:00 UTC | Selling US$10m worth of stock earlier this year was a lucrative decision for Alcoa Corporation (NYSE:AA) insiders | AA | https://www.nasdaq.com/articles/selling-us%2410m-worth-of-stock-earlier-this-year-was-a-lucrative-decision-for-alcoa | nan | nan | Last week, Alcoa Corporation's (NYSE:AA) stock jumped 11%, but insiders who sold US$10m worth of stock in over the past year are likely to be in a better position. Holding on to stock would have meant their investment would be worth less now than it was at the time of sale. Thus selling at an average price of US$56.14, which is higher than the current price, may have been the best decision.
While we would never suggest that investors should base their decisions solely on what the directors of a company have been doing, we would consider it foolish to ignore insider transactions altogether.
The Last 12 Months Of Insider Transactions At Alcoa
In the last twelve months, the biggest single sale by an insider was when the Executive VP & CFO, William Oplinger, sold US$4.5m worth of shares at a price of US$48.40 per share. So what is clear is that an insider saw fit to sell at around the current price of US$45.15. While insider selling is a negative, to us, it is more negative if the shares are sold at a lower price. We note that this sale took place at around the current price, so it isn't a major concern, though it's hardly a good sign.
Insiders in Alcoa didn't buy any shares in the last year. You can see the insider transactions (by companies and individuals) over the last year depicted in the chart below. If you want to know exactly who sold, for how much, and when, simply click on the graph below!
NYSE:AA Insider Trading Volume July 22nd 2022
If you like to buy stocks that insiders are buying, rather than selling, then you might just love this free list of companies. (Hint: insiders have been buying them).
Insider Ownership
For a common shareholder, it is worth checking how many shares are held by company insiders. A high insider ownership often makes company leadership more mindful of shareholder interests. It appears that Alcoa insiders own 0.5% of the company, worth about US$38m. We've certainly seen higher levels of insider ownership elsewhere, but these holdings are enough to suggest alignment between insiders and the other shareholders.
So What Do The Alcoa Insider Transactions Indicate?
It doesn't really mean much that no insider has traded Alcoa shares in the last quarter. We don't take much encouragement from the transactions by Alcoa insiders. But we do like the fact that insiders own a fair chunk of the company. So these insider transactions can help us build a thesis about the stock, but it's also worthwhile knowing the risks facing this company. Be aware that Alcoa is showing 2 warning signs in our investment analysis, and 1 of those doesn't sit too well with us...
If you would prefer to check out another company -- one with potentially superior financials -- then do not miss this free list of interesting companies, that have HIGH return on equity and low debt.
For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions, but not derivative transactions.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Last week, Alcoa Corporation's (NYSE:AA) stock jumped 11%, but insiders who sold US$10m worth of stock in over the past year are likely to be in a better position. NYSE:AA Insider Trading Volume July 22nd 2022 If you like to buy stocks that insiders are buying, rather than selling, then you might just love this free list of companies. While we would never suggest that investors should base their decisions solely on what the directors of a company have been doing, we would consider it foolish to ignore insider transactions altogether. | Last week, Alcoa Corporation's (NYSE:AA) stock jumped 11%, but insiders who sold US$10m worth of stock in over the past year are likely to be in a better position. NYSE:AA Insider Trading Volume July 22nd 2022 If you like to buy stocks that insiders are buying, rather than selling, then you might just love this free list of companies. Insider Ownership For a common shareholder, it is worth checking how many shares are held by company insiders. | NYSE:AA Insider Trading Volume July 22nd 2022 If you like to buy stocks that insiders are buying, rather than selling, then you might just love this free list of companies. Last week, Alcoa Corporation's (NYSE:AA) stock jumped 11%, but insiders who sold US$10m worth of stock in over the past year are likely to be in a better position. The Last 12 Months Of Insider Transactions At Alcoa In the last twelve months, the biggest single sale by an insider was when the Executive VP & CFO, William Oplinger, sold US$4.5m worth of shares at a price of US$48.40 per share. | Last week, Alcoa Corporation's (NYSE:AA) stock jumped 11%, but insiders who sold US$10m worth of stock in over the past year are likely to be in a better position. NYSE:AA Insider Trading Volume July 22nd 2022 If you like to buy stocks that insiders are buying, rather than selling, then you might just love this free list of companies. We note that this sale took place at around the current price, so it isn't a major concern, though it's hardly a good sign. | ddaadbba-a829-4648-ba44-2ac2e20b4bd3 |
696.0 | 2022-07-22 00:00:00 UTC | COLUMN-Aluminium producers feel the margin pain as price slumps: Andy Home | AA | https://www.nasdaq.com/articles/column-aluminium-producers-feel-the-margin-pain-as-price-slumps%3A-andy-home | nan | nan | By Andy Home
LONDON, July 22 (Reuters) - Aluminium producers are facing a hard landing after the bonanza pricing seen in the first half of 2022.
U.S. producer Alcoa AA.N reported an average realised price on third-party sales of $3,864 per tonne in the second quarter, compared with $2,753 in the same period of last year. Shareholders will reap the benefits of the revenue boost with a $500 million share buy-back.
Time, however, has already been called on the aluminium party.
The London Metal Exchange (LME) three-month aluminium price CMAL3 has collapsed from an all-time high of $4,073.50 per tonne in March to a current $2,450.00.
Fear of recession is now the dominant theme in industrial metals as surging energy prices translate into manufacturing slowdown.
High power pricing spells particular trouble for aluminium operators, given the energy-intensive nature of the smelting process. The resulting margin squeeze is already taking an increasing toll on production.
EUROPEAN MELTDOWN
Hardest hit so far have been European smelters.
Western European production of primary aluminium fell by 11.5% to 1.483 million tonnes in the first half of the year, according to the International Aluminium Institute (IAI).
Annualised production has fallen below the 3.0 million level for the first time this century.
European smelters find themselves in the eye of the energy storm that has broken since Russia launched what it calls its "special military operation" in Ukraine.
Alcoa has suspended its 228,000-tonne per year Spanish plant and others are flexing run-rates as they navigate super-high power prices.
Montenegro's smaller Podgorica smelter has also been shuttered with other Eastern European operators such as Romania's Alro Group ALR.BX and Slovakia's Slovalco idling capacity.
It's worth noting that production in the IAI's Eastern European category, which includes all these countries, was down by just 1.4% in the first half of the year.
The intriguing inference is that Russia's Rusal may be raising production. Its products have not been sanctioned, although Australia's ban on exports of alumina to the country has disrupted its raw material supply chain. Rusal has not released production figures for this year.
ALUMINA HITS
European smelter pain is now extending further upstream to alumina refining.
Romania's Alro Group, which has idled 132,500 tonnes of primary aluminium capacity, is now closing its alumina plant also due to soaring power costs.
Alcoa is reducing output at its San Ciprian refinery in Spain for the same reason. Natural gas costs have risen from around $45 per tonne of alumina produced in early 2021 to more than $215 in the second quarter of 2022, the company said.
The plant, which has an annual capacity of 1.5 million tonnes of the intermediate product, has reduced output by 15%.
There is no sign of any imminent relief from the power crunch.
The entire forward power price structure in Germany, to take just one example, has moved exponentially higher with spot pricing, posing a structural problem for any smelter without a captive power source.
U.S. SMELTER POWERS DOWN
The margin squeeze has spread to the United States.
Century Aluminium CENX.O is idling its Hawesville smelter for "approximately nine to twelve months" after the power cost to operate the plant "more than tripled the historical average in a very short period".
Century boasts that its Kentucky facility is the largest North American producer of military-grade aluminium. Hawesville's special status played an important role in the Trump Administration's use of Section 232 national security provisions to impose import duties on primary aluminium in 2018.
Tariff protection has not been sufficient to withstand the impact of the energy hit.
Alcoa is also idling one of three lines at its Warrick smelter in Indiana, citing "operational challenges, which stem from workforce shortages in the region".
Offsetting the impact on regional supply will be the full phased return of Canada's Kitimat smelter after a protracted strike last year.
But North American aluminium production, down by 4.6% so far this year, is likely to do no more than stabilise around current low levels.
CHINA STILL POWERING UP
China's aluminium production is currently rebounding as smelters recover from last year's aggressive energy efficiency targets, now modified after the resulting rolling power crunch.
The country's annualised run-rate has accelerated by almost four million tonnes to 40.6 million tonnes so far this year.
Here too, though, the margin pressure is on.
The recent precipitous price collapse means that around half of China's capacity is now operating at a cash cost below the current metal price, according to AZ Global Consulting.
But don't expect immediate curtailments. China's smelters have a long history of toughing out periods of low prices with some cushioned by their relationship with regional governments.
A more likely reaction is a slowdown of new capacity coming on line.
There are signs, according to AZ Global, that investors are already growing cautious with projects slated to start this year pushed back until 2023.
POWER PINCH
Availability of cheap power has always shaped the aluminium smelting landscape, but that reliance on continuous electricity to process alumina into metal is now becoming ever more acute.
It's not just the massive short-term impact of Russia's invasion of Ukraine on all fossil-fuel markets. It's also about the bigger global drive towards renewable energy, which requires massive changes in grid structure and efficiency, as Chinese smelters found out to their cost in 2021.
The longer-term headache of securing low-priced power in a structurally-challenged energy market isn't going away.
But right now the energy crisis spreading out of Europe is already acting as a major brake on global aluminium production.
Despite China's collective ramp-up, global primary metal output was still 0.1% lower year-on-year in the first six months of 2022.
The opinions expressed here are those of the author, a columnist for Reuters.
European power crunch spells big trouble for regional aluminium smeltershttps://tmsnrt.rs/3yZOTO7
European aluminium smelters have been hardest hit by margin squeezehttps://tmsnrt.rs/3yWQ6py
(Editing by Kirsten Donovan)
((andy.home@thomsonreuters.com, 44-207-542-4412 and on Twitter https://twitter.com/AndyHomeMetals))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | U.S. producer Alcoa AA.N reported an average realised price on third-party sales of $3,864 per tonne in the second quarter, compared with $2,753 in the same period of last year. Romania's Alro Group, which has idled 132,500 tonnes of primary aluminium capacity, is now closing its alumina plant also due to soaring power costs. Century Aluminium CENX.O is idling its Hawesville smelter for "approximately nine to twelve months" after the power cost to operate the plant "more than tripled the historical average in a very short period". | U.S. producer Alcoa AA.N reported an average realised price on third-party sales of $3,864 per tonne in the second quarter, compared with $2,753 in the same period of last year. High power pricing spells particular trouble for aluminium operators, given the energy-intensive nature of the smelting process. Romania's Alro Group, which has idled 132,500 tonnes of primary aluminium capacity, is now closing its alumina plant also due to soaring power costs. | U.S. producer Alcoa AA.N reported an average realised price on third-party sales of $3,864 per tonne in the second quarter, compared with $2,753 in the same period of last year. Western European production of primary aluminium fell by 11.5% to 1.483 million tonnes in the first half of the year, according to the International Aluminium Institute (IAI). China's aluminium production is currently rebounding as smelters recover from last year's aggressive energy efficiency targets, now modified after the resulting rolling power crunch. | U.S. producer Alcoa AA.N reported an average realised price on third-party sales of $3,864 per tonne in the second quarter, compared with $2,753 in the same period of last year. Hardest hit so far have been European smelters. The country's annualised run-rate has accelerated by almost four million tonnes to 40.6 million tonnes so far this year. | 7e872133-5fcf-4d37-84bf-2d67ce3b8c62 |
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