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1100.0
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2020-12-11 00:00:00 UTC
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Friday's ETF Movers: TAN, XME
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AA
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https://www.nasdaq.com/articles/fridays-etf-movers%3A-tan-xme-2020-12-11
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nan
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nan
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In trading on Friday, the Invesco Solar ETF is outperforming other ETFs, up about 2.3% on the day. Components of that ETF showing particular strength include shares of Solaredge Technologies, up about 6.9% and shares of Enphase Energy, up about 5.7% on the day.
And underperforming other ETFs today is the SPDR— S&P— Metals & Mining ETF, down about 2.9% in Friday afternoon trading. Among components of that ETF with the weakest showing on Friday were shares of Warrior Met Coal, lower by about 8.4%, and shares of Alcoa, lower by about 7.2% on the day.
VIDEO: Friday's ETF Movers: TAN, XME
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Components of that ETF showing particular strength include shares of Solaredge Technologies, up about 6.9% and shares of Enphase Energy, up about 5.7% on the day. Among components of that ETF with the weakest showing on Friday were shares of Warrior Met Coal, lower by about 8.4%, and shares of Alcoa, lower by about 7.2% on the day. VIDEO: Friday's ETF Movers: TAN, XME The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Components of that ETF showing particular strength include shares of Solaredge Technologies, up about 6.9% and shares of Enphase Energy, up about 5.7% on the day. Among components of that ETF with the weakest showing on Friday were shares of Warrior Met Coal, lower by about 8.4%, and shares of Alcoa, lower by about 7.2% on the day. VIDEO: Friday's ETF Movers: TAN, XME The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In trading on Friday, the Invesco Solar ETF is outperforming other ETFs, up about 2.3% on the day. Components of that ETF showing particular strength include shares of Solaredge Technologies, up about 6.9% and shares of Enphase Energy, up about 5.7% on the day. Among components of that ETF with the weakest showing on Friday were shares of Warrior Met Coal, lower by about 8.4%, and shares of Alcoa, lower by about 7.2% on the day.
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In trading on Friday, the Invesco Solar ETF is outperforming other ETFs, up about 2.3% on the day. Components of that ETF showing particular strength include shares of Solaredge Technologies, up about 6.9% and shares of Enphase Energy, up about 5.7% on the day. And underperforming other ETFs today is the SPDR— S&P— Metals & Mining ETF, down about 2.9% in Friday afternoon trading.
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ad2d80b6-6cc4-4471-b9aa-d9584ecb48b6
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1101.0
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2020-12-08 00:00:00 UTC
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3 Big Reasons Alcoa Stock Shot Up 54% in November
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AA
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https://www.nasdaq.com/articles/3-big-reasons-alcoa-stock-shot-up-54-in-november-2020-12-08
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nan
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nan
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What happened
Shares of Alcoa (NYSE: AA) rose by 54% November, according to data provided by S&P Global Market Intelligence. And that wasn't the end of the aluminum giant's rally: It's already up another 8.2% in December as of this writing.
Favorable macroeconomic factors, soaring commodity prices, and an asset sale that could hugely improve Alcoa's financial standing all combined to help lift the stock.
So what
Until the end of October, the market wasn't too sure about Alcoa's prospects. Although the company reported strong numbers for its third quarter in the middle of that month, its debt rose even as management projected a challenging fourth quarter. A high debt burden has been one of investors' biggest concerns regarding Alcoa. As of Sept. 30, its debt had ballooned to $2.5 billion, up a whopping 41% from where it ended 2019.
Alcoa's management, however, expressed optimism about its end markets, especially after it realized higher pricing in alumina and aluminum in Q3, which drove its revenue up 10% sequentially and helped it narrow its sequential losses by nearly 75%.
Image source: Getty Images.
Unsurprisingly, the market bid Alcoa shares up as aluminum prices on the London Metal Exchange rose by 10.9% and hit a two-year high in November. Strong demand for aluminum from China and a broader rally in the stock markets after drugmaker Pfizer announced high efficacy for its COVID-19 vaccine candidate were some of the catalysts. Investors' hopes that a major infrastructure spending plan will finally take concrete shape under the Biden administration added buoyancy to the share price.
On Nov. 30, Alcoa provided investors another big reason to cheer when it announced a deal to sell its rolling mill business to Kaiser Aluminum (NASDAQ: KALU) for $670 million, including $587 million in cash and the assumption of $83 million in liabilities. "The sale will achieve a key target in our strategy to focus on core markets while generating additional cash," said Alcoa CEO Roy Harvey. The deal is expected to close in the first quarter. In 2019, Alcoa outlined a strategy to raise $500 million to $1 billion in cash from the sale of non-core assets.
Now what
Assuming that it doesn't issue any more debt, the cash proceeds from the Kaiser deal should trim Alcoa's debt to below $2 billion. Pair that with its cash balance of $1.74 billion as of the end of the third quarter, and its balance sheet starts to look much stronger. With the aluminum market also firming up, the metal stock's bull run could stretch out further.
10 stocks we like better than Alcoa
When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*
David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Alcoa wasn't one of them! That's right -- they think these 10 stocks are even better buys.
See the 10 stocks
*Stock Advisor returns as of November 20, 2020
Neha Chamaria owns shares of Pfizer. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
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 Alcoa (NYSE: AA) rose by 54% November, according to data provided by S&P Global Market Intelligence. Favorable macroeconomic factors, soaring commodity prices, and an asset sale that could hugely improve Alcoa's financial standing all combined to help lift the stock. Unsurprisingly, the market bid Alcoa shares up as aluminum prices on the London Metal Exchange rose by 10.9% and hit a two-year high in November.
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What happened Shares of Alcoa (NYSE: AA) rose by 54% November, according to data provided by S&P Global Market Intelligence. Unsurprisingly, the market bid Alcoa shares up as aluminum prices on the London Metal Exchange rose by 10.9% and hit a two-year high in November. Strong demand for aluminum from China and a broader rally in the stock markets after drugmaker Pfizer announced high efficacy for its COVID-19 vaccine candidate were some of the catalysts.
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What happened Shares of Alcoa (NYSE: AA) rose by 54% November, according to data provided by S&P Global Market Intelligence. Alcoa's management, however, expressed optimism about its end markets, especially after it realized higher pricing in alumina and aluminum in Q3, which drove its revenue up 10% sequentially and helped it narrow its sequential losses by nearly 75%. Unsurprisingly, the market bid Alcoa shares up as aluminum prices on the London Metal Exchange rose by 10.9% and hit a two-year high in November.
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What happened Shares of Alcoa (NYSE: AA) rose by 54% November, according to data provided by S&P Global Market Intelligence. In 2019, Alcoa outlined a strategy to raise $500 million to $1 billion in cash from the sale of non-core assets. Now what Assuming that it doesn't issue any more debt, the cash proceeds from the Kaiser deal should trim Alcoa's debt to below $2 billion.
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9fa2fa74-9bff-44d5-922c-f2697727f118
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1102.0
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2020-12-04 00:00:00 UTC
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Why U.S. Steel, Alcoa, and Companhia Siderurgica Stocks Are Surging Today
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AA
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https://www.nasdaq.com/articles/why-u.s.-steel-alcoa-and-companhia-siderurgica-stocks-are-surging-today-2020-12-04
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nan
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nan
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What happened
Friday is turning out to be a good day to be in the metals business, as shares of steelmakers United States Steel (NYSE: X) and Brazil's Companhia Siderurgica Nacional (NYSE: SID) roar to new heights, up 10.4% and 12.1%, respectively, in 1:50 p.m. EST trading. Nor is steel the only popular metal today, as aluminum magnate Alcoa (NYSE: AA) joins in the rally -- up 7.2%.
So what exactly is going on here to get investors so excited about commodities?
Image source: Getty Images.
So what
Let's take these metals stories one (or two) at a time. In regard to steel, Bloomberg News recently exulted at U.S. Steel's "47% breakout in November," asserting that supply shortages of the usually run-of-the-mill metal are behind the stock's rise. Moreover, investors are betting the Biden administration might usher in a long-awaited infrastructure-building program, bolstering demand for steel.
Benchmark steel prices are up 80% from their lows of late August, reports Bloomberg, and that pricing strength should continue even if no infrastructure legislation is immediately passed, because demand is being supported by a "strong recovery in automotive and restocking across the supply chain." And with U.S. supplies still constrained due to blast furnaces, closed during the pandemic, still not being back up and running, prices for steel globally should also enjoy support. That would explain why Companhia Siderurgica Nacional (literally, "national steel company") stock is doing so well down in Brazil.
Strategic investors are taking advantage of the situation, with Cleveland-Cliffs recently moving to acquire the U.S. steelmaking assets of ArcelorMittal and all of AK Steel.
Now what
Now let's move onto Alcoa, and the nonsteel, aluminum aspect of today's rally. Earlier this week, as you may have heard, Alcoa struck a deal to sell its aluminum rolling mill business to Kaiser Aluminum for $670 million. Wall Street thinks this is a great deal for Kaiser, with one investment bank upgrading that stock to buy this morning and arguing the asset is well positioned to profit from improved output at American automobile manufacturers.
But let's not forget the obvious advantages this deal will have for Alcoa as well: namely, release from the need to spend money on capital improvements at the operation (which Benchmark Capital says it has been "under invested" in) -- and $670 million in cold, hard cash.
Alcoa is a company carrying $2.7 billion in debt currently. Apply the $670 million Alcoa will receive from the Kaiser deal, and that number could come down to just $2 billion -- only a bit more than the $1.7 billion in cash Alcoa has on hand. Result: Net net, Alcoa could emerge from this deal very close to net debt free, a prospect that should obviously please its shareholders.
Combine this with the likelihood that any U.S. national infrastructure program that benefits steelmakers like U.S. Steel will almost certainly benefit aluminum producers like Alcoa, and it becomes clear why all of these stocks are enjoying a bull run today.
10 stocks we like better than United States Steel
When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*
David and Tom just revealed what they believe are the ten best stocks for investors to buy right now… and United States Steel wasn't one of them! That's right -- they think these 10 stocks are even better buys.
See the 10 stocks
*Stock Advisor returns as of November 20, 2020
Rich Smith has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
Nor is steel the only popular metal today, as aluminum magnate Alcoa (NYSE: AA) joins in the rally -- up 7.2%. And with U.S. supplies still constrained due to blast furnaces, closed during the pandemic, still not being back up and running, prices for steel globally should also enjoy support. Strategic investors are taking advantage of the situation, with Cleveland-Cliffs recently moving to acquire the U.S. steelmaking assets of ArcelorMittal and all of AK Steel.
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Nor is steel the only popular metal today, as aluminum magnate Alcoa (NYSE: AA) joins in the rally -- up 7.2%. What happened Friday is turning out to be a good day to be in the metals business, as shares of steelmakers United States Steel (NYSE: X) and Brazil's Companhia Siderurgica Nacional (NYSE: SID) roar to new heights, up 10.4% and 12.1%, respectively, in 1:50 p.m. EST trading. That would explain why Companhia Siderurgica Nacional (literally, "national steel company") stock is doing so well down in Brazil.
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Nor is steel the only popular metal today, as aluminum magnate Alcoa (NYSE: AA) joins in the rally -- up 7.2%. In regard to steel, Bloomberg News recently exulted at U.S. Steel's "47% breakout in November," asserting that supply shortages of the usually run-of-the-mill metal are behind the stock's rise. Combine this with the likelihood that any U.S. national infrastructure program that benefits steelmakers like U.S. Steel will almost certainly benefit aluminum producers like Alcoa, and it becomes clear why all of these stocks are enjoying a bull run today.
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Nor is steel the only popular metal today, as aluminum magnate Alcoa (NYSE: AA) joins in the rally -- up 7.2%. Now what Now let's move onto Alcoa, and the nonsteel, aluminum aspect of today's rally. * David and Tom just revealed what they believe are the ten best stocks for investors to buy right now… and United States Steel wasn't one of them!
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c58d863b-4d26-4b56-b519-d9254b6fab41
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1103.0
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2020-12-03 00:00:00 UTC
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AA January 2021 Options Begin Trading
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AA
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https://www.nasdaq.com/articles/aa-january-2021-options-begin-trading-2020-12-03
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nan
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nan
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Investors in Alcoa Corporation (Symbol: AA) saw new options begin trading today, for the January 2021 expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the AA options chain for the new January 2021 contracts and identified one put and one call contract of particular interest.
The put contract at the $20.00 strike price has a current bid of 14 cents. If an investor was to sell-to-open that put contract, they are committing to purchase the stock at $20.00, but will also collect the premium, putting the cost basis of the shares at $19.86 (before broker commissions). To an investor already interested in purchasing shares of AA, that could represent an attractive alternative to paying $22.68/share today.
Because the $20.00 strike represents an approximate 12% discount to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the put contract would expire worthless. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 72%. Stock Options Channel will track those odds over time to see how they change, publishing a chart of those numbers on our website under the contract detail page for this contract. Should the contract expire worthless, the premium would represent a 0.70% return on the cash commitment, or 5.11% annualized — at Stock Options Channel we call this the YieldBoost.
Below is a chart showing the trailing twelve month trading history for Alcoa Corporation, and highlighting in green where the $20.00 strike is located relative to that history:
Turning to the calls side of the option chain, the call contract at the $23.00 strike price has a current bid of $1.65. If an investor was to purchase shares of AA stock at the current price level of $22.68/share, and then sell-to-open that call contract as a "covered call," they are committing to sell the stock at $23.00. Considering the call seller will also collect the premium, that would drive a total return (excluding dividends, if any) of 8.69% if the stock gets called away at the January 2021 expiration (before broker commissions). Of course, a lot of upside could potentially be left on the table if AA shares really soar, which is why looking at the trailing twelve month trading history for Alcoa Corporation, as well as studying the business fundamentals becomes important. Below is a chart showing AA's trailing twelve month trading history, with the $23.00 strike highlighted in red:
Considering the fact that the $23.00 strike represents an approximate 1% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 46%. On our website under the contract detail page for this contract, Stock Options Channel will track those odds over time to see how they change and publish a chart of those numbers (the trading history of the option contract will also be charted). Should the covered call contract expire worthless, the premium would represent a 7.28% boost of extra return to the investor, or 53.11% annualized, which we refer to as the YieldBoost.
The implied volatility in the put contract example is 133%, while the implied volatility in the call contract example is 124%.
Meanwhile, we calculate the actual trailing twelve month volatility (considering the last 252 trading day closing values as well as today's price of $22.68) to be 81%. For more put and call options contract ideas worth looking at, visit StockOptionsChannel.com.
Top YieldBoost Calls of the S&P 500 »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Of course, a lot of upside could potentially be left on the table if AA shares really soar, which is why looking at the trailing twelve month trading history for Alcoa Corporation, as well as studying the business fundamentals becomes important. Below is a chart showing AA's trailing twelve month trading history, with the $23.00 strike highlighted in red: Considering the fact that the $23.00 strike represents an approximate 1% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in Alcoa Corporation (Symbol: AA) saw new options begin trading today, for the January 2021 expiration.
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Below is a chart showing AA's trailing twelve month trading history, with the $23.00 strike highlighted in red: Considering the fact that the $23.00 strike represents an approximate 1% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in Alcoa Corporation (Symbol: AA) saw new options begin trading today, for the January 2021 expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the AA options chain for the new January 2021 contracts and identified one put and one call contract of particular interest.
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Below is a chart showing AA's trailing twelve month trading history, with the $23.00 strike highlighted in red: Considering the fact that the $23.00 strike represents an approximate 1% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in Alcoa Corporation (Symbol: AA) saw new options begin trading today, for the January 2021 expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the AA options chain for the new January 2021 contracts and identified one put and one call contract of particular interest.
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At Stock Options Channel, our YieldBoost formula has looked up and down the AA options chain for the new January 2021 contracts and identified one put and one call contract of particular interest. Below is a chart showing AA's trailing twelve month trading history, with the $23.00 strike highlighted in red: Considering the fact that the $23.00 strike represents an approximate 1% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in Alcoa Corporation (Symbol: AA) saw new options begin trading today, for the January 2021 expiration.
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cbff7199-481c-4011-9d0a-40a18d18677f
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1104.0
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2020-12-01 00:00:00 UTC
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Notable Tuesday Option Activity: UA, AA, SPLK
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AA
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https://www.nasdaq.com/articles/notable-tuesday-option-activity%3A-ua-aa-splk-2020-12-01
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nan
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nan
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Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Under Armour Inc (Symbol: UA), where a total volume of 24,310 contracts has been traded thus far today, a contract volume which is representative of approximately 2.4 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 61.2% of UA's average daily trading volume over the past month, of 4.0 million shares. Especially high volume was seen for the $15 strike call option expiring December 18, 2020, with 16,123 contracts trading so far today, representing approximately 1.6 million underlying shares of UA. Below is a chart showing UA's trailing twelve month trading history, with the $15 strike highlighted in orange:
Alcoa Corporation (Symbol: AA) options are showing a volume of 33,529 contracts thus far today. That number of contracts represents approximately 3.4 million underlying shares, working out to a sizeable 60.3% of AA's average daily trading volume over the past month, of 5.6 million shares. Especially high volume was seen for the $24 strike call option expiring February 19, 2021, with 6,925 contracts trading so far today, representing approximately 692,500 underlying shares of AA. Below is a chart showing AA's trailing twelve month trading history, with the $24 strike highlighted in orange:
And Splunk Inc (Symbol: SPLK) options are showing a volume of 7,472 contracts thus far today. That number of contracts represents approximately 747,200 underlying shares, working out to a sizeable 59.7% of SPLK's average daily trading volume over the past month, of 1.3 million shares. Particularly high volume was seen for the $192.50 strike put option expiring December 04, 2020, with 1,067 contracts trading so far today, representing approximately 106,700 underlying shares of SPLK. Below is a chart showing SPLK's trailing twelve month trading history, with the $192.50 strike highlighted in orange:
For the various different available expirations for UA options, AA options, or SPLK options, visit StockOptionsChannel.com.
Today's Most Active Call & Put Options of the S&P 500 »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Especially high volume was seen for the $24 strike call option expiring February 19, 2021, with 6,925 contracts trading so far today, representing approximately 692,500 underlying shares of AA. Below is a chart showing UA's trailing twelve month trading history, with the $15 strike highlighted in orange: Alcoa Corporation (Symbol: AA) options are showing a volume of 33,529 contracts thus far today. That number of contracts represents approximately 3.4 million underlying shares, working out to a sizeable 60.3% of AA's average daily trading volume over the past month, of 5.6 million shares.
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Below is a chart showing UA's trailing twelve month trading history, with the $15 strike highlighted in orange: Alcoa Corporation (Symbol: AA) options are showing a volume of 33,529 contracts thus far today. That number of contracts represents approximately 3.4 million underlying shares, working out to a sizeable 60.3% of AA's average daily trading volume over the past month, of 5.6 million shares. Especially high volume was seen for the $24 strike call option expiring February 19, 2021, with 6,925 contracts trading so far today, representing approximately 692,500 underlying shares of AA.
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That number of contracts represents approximately 3.4 million underlying shares, working out to a sizeable 60.3% of AA's average daily trading volume over the past month, of 5.6 million shares. Below is a chart showing UA's trailing twelve month trading history, with the $15 strike highlighted in orange: Alcoa Corporation (Symbol: AA) options are showing a volume of 33,529 contracts thus far today. Especially high volume was seen for the $24 strike call option expiring February 19, 2021, with 6,925 contracts trading so far today, representing approximately 692,500 underlying shares of AA.
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Below is a chart showing SPLK's trailing twelve month trading history, with the $192.50 strike highlighted in orange: For the various different available expirations for UA options, AA options, or SPLK options, visit StockOptionsChannel.com. Below is a chart showing UA's trailing twelve month trading history, with the $15 strike highlighted in orange: Alcoa Corporation (Symbol: AA) options are showing a volume of 33,529 contracts thus far today. That number of contracts represents approximately 3.4 million underlying shares, working out to a sizeable 60.3% of AA's average daily trading volume over the past month, of 5.6 million shares.
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5b4f638d-a46e-467b-ba4f-c0af1342ebbd
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1105.0
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2020-12-01 00:00:00 UTC
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Why Alcoa and Kaiser Aluminum Are Both Soaring Higher Today
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AA
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https://www.nasdaq.com/articles/why-alcoa-and-kaiser-aluminum-are-both-soaring-higher-today-2020-12-01
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nan
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nan
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What happened
Kaiser Aluminum (NASDAQ: KALU) after markets closed Monday agreed to buy Alcoa's (NYSE: AA) rolling mill business for $670 million. The market likes the deal from both the buyer's and the seller's perspective, pushing shares of both companies up more than 10% on Tuesday.
So what
Alcoa has struggled in recent years, and in 2019 launched a program to sell between $500 million and $1 billion of assets deemed non-core in response to weak commodity prices.
The company late Monday hit its goal when it announced the sale of its Warrick rolling mill business located in Evansville, Indiana, to Kaiser for $670 million, including $587 million in cash and the assumption of $83 million in employee liabilities.
Image source: Getty Images.
Warrick makes aluminum packaging used in beverage and food cans. In the last 12 months the unit has shipped more than 675 million pounds of aluminum, with more than half of it higher-margin coated packaging products. As part of the deal, Alcoa will retain ownership of the smelter and electric generating units at Warrick. Alcoa will also enter into a market-based metal supply agreement with Kaiser at closing.
Now what
The proceeds, along with $200 million in cash Alcoa will receive for the sale of assets in Arkansas, puts the company well on its way toward streamlining its business and raising cash.
B. Riley Securities analyst Lucas Pipes in a note Tuesday said that while investors were likely hoping for a higher valuation on the rolling mill, the sale should advance Alcoa's transformation. The analyst raised his price target for Alcoa to $20, from $14, but kept a neutral rating on the shares.
For Kaiser, the rolling business adds a less-cyclical component to a portfolio that has heavy exposure to aerospace, automotive, and general engineering industries.
It will take time to see how the deal plays out, but on day one shareholders on both sides seem happy and the stocks are both taking off as a result.
10 stocks we like better than Alcoa
When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*
David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Alcoa wasn't one of them! That's right -- they think these 10 stocks are even better buys.
See the 10 stocks
*Stock Advisor returns as of November 20, 2020
Lou Whiteman has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
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 Kaiser Aluminum (NASDAQ: KALU) after markets closed Monday agreed to buy Alcoa's (NYSE: AA) rolling mill business for $670 million. So what Alcoa has struggled in recent years, and in 2019 launched a program to sell between $500 million and $1 billion of assets deemed non-core in response to weak commodity prices. B. Riley Securities analyst Lucas Pipes in a note Tuesday said that while investors were likely hoping for a higher valuation on the rolling mill, the sale should advance Alcoa's transformation.
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What happened Kaiser Aluminum (NASDAQ: KALU) after markets closed Monday agreed to buy Alcoa's (NYSE: AA) rolling mill business for $670 million. The company late Monday hit its goal when it announced the sale of its Warrick rolling mill business located in Evansville, Indiana, to Kaiser for $670 million, including $587 million in cash and the assumption of $83 million in employee liabilities. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.
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What happened Kaiser Aluminum (NASDAQ: KALU) after markets closed Monday agreed to buy Alcoa's (NYSE: AA) rolling mill business for $670 million. The company late Monday hit its goal when it announced the sale of its Warrick rolling mill business located in Evansville, Indiana, to Kaiser for $670 million, including $587 million in cash and the assumption of $83 million in employee liabilities. See the 10 stocks *Stock Advisor returns as of November 20, 2020 Lou Whiteman has no position in any of the stocks mentioned.
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What happened Kaiser Aluminum (NASDAQ: KALU) after markets closed Monday agreed to buy Alcoa's (NYSE: AA) rolling mill business for $670 million. That's right -- they think these 10 stocks are even better buys. The Motley Fool has no position in any of the stocks mentioned.
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965031a1-c6cb-4040-9b7d-437cb1d14022
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1106.0
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2020-11-30 00:00:00 UTC
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Alcoa To Sell Rolling Mill Business To Kaiser Aluminum For About $670 Mln
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AA
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https://www.nasdaq.com/articles/alcoa-to-sell-rolling-mill-business-to-kaiser-aluminum-for-about-%24670-mln-2020-11-30
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nan
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nan
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(RTTNews) - Alcoa Corp. (AA) agreed to sell its rolling mill business, held by Alcoa Warrick LLC, to Kaiser Aluminum Corp. for total consideration of about $670 million. The sale price includes $587 million in cash and the assumption of $83 million in other postretirement employee benefit liabilities.
The announcement is part of the company's strategy to generate between $500 million and $1 billion in cash through the sale of non-core assets.
The company expects to close the sale by the end of the first quarter of 2021.
The rolling mill is located at Warrick Operations, an integrated aluminum manufacturing site near Evansville, Indiana.
Alcoa said it will retain ownership of the site's 269,000 metric ton per year aluminum smelter and its electric generating units. Alcoa will also enter into a ground lease agreement with Kaiser for property that Alcoa will continue to own at the Warrick site.
As part of the deal, Alcoa will enter into a market-based metal supply agreement with Kaiser Aluminum at closing. Alcoa will continue to operate the smelter and the power plant, which together employ about 660 people.
About 1,170 employees at the rolling operations will become employees of Kaiser Aluminum once the transaction is complete. The rolling operations includes the casthouse, hot mill, cold mills, and coating and slitting lines.
The rolling mill produces about 310,000 metric tons of flat rolled aluminum annually for use in packaging, including food containers, aluminum cans, and bottles.
After closing, Alcoa expects annual approximate decreases in sales of $800 million, net income of $45 million to $55 million. Alcoa expects to spend about $100 million for site separation and transaction costs, with about half being spent in 2021 and the remainder in 2022 and 2023.
Earlier this year, Alcoa had agreed to sell its former waste treatment business in Gum Springs, Arkansas, and received $200 million in cash with an additional $50 million that will be paid if certain post-closing conditions are satisfied.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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(RTTNews) - Alcoa Corp. (AA) agreed to sell its rolling mill business, held by Alcoa Warrick LLC, to Kaiser Aluminum Corp. for total consideration of about $670 million. The rolling mill is located at Warrick Operations, an integrated aluminum manufacturing site near Evansville, Indiana. Alcoa said it will retain ownership of the site's 269,000 metric ton per year aluminum smelter and its electric generating units.
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(RTTNews) - Alcoa Corp. (AA) agreed to sell its rolling mill business, held by Alcoa Warrick LLC, to Kaiser Aluminum Corp. for total consideration of about $670 million. Alcoa said it will retain ownership of the site's 269,000 metric ton per year aluminum smelter and its electric generating units. The rolling mill produces about 310,000 metric tons of flat rolled aluminum annually for use in packaging, including food containers, aluminum cans, and bottles.
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(RTTNews) - Alcoa Corp. (AA) agreed to sell its rolling mill business, held by Alcoa Warrick LLC, to Kaiser Aluminum Corp. for total consideration of about $670 million. After closing, Alcoa expects annual approximate decreases in sales of $800 million, net income of $45 million to $55 million. Earlier this year, Alcoa had agreed to sell its former waste treatment business in Gum Springs, Arkansas, and received $200 million in cash with an additional $50 million that will be paid if certain post-closing conditions are satisfied.
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(RTTNews) - Alcoa Corp. (AA) agreed to sell its rolling mill business, held by Alcoa Warrick LLC, to Kaiser Aluminum Corp. for total consideration of about $670 million. The rolling mill is located at Warrick Operations, an integrated aluminum manufacturing site near Evansville, Indiana. Alcoa will also enter into a ground lease agreement with Kaiser for property that Alcoa will continue to own at the Warrick site.
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28b547ba-3ffe-4349-a724-3fa2b6cafa95
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1107.0
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2020-10-28 00:00:00 UTC
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Alcoa Stock Up 145% – More Gains On The Way
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AA
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https://www.nasdaq.com/articles/alcoa-stock-up-145-more-gains-on-the-way-2020-10-28
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nan
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nan
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Despite an impressive rise of about 145% since the March lows of this year, at the current price of over $13 per share, we believe Alcoa stock (NYSE: AA) is still below its near-term potential. Alcoa’s stock has rallied from $5.48 to $13.47 off the recent bottom compared to the S&P which increased 55% during the same period. The stock has outperformed the broader market in the last 7 months as aluminum prices rebounded and started to rise since April following the US government announcing a string of measures along with stimulus packages announced in other economies to keep businesses afloat. Also, with the Chinese economy opening up and lockdowns being lifted, the market is expecting a rise in aluminum demand along with easing of supply constraints.
With the stock still more than 20% below its pre-Covid (February 2020) peak, we believe that the stock will rise from here, though it is unlikely to reach its pre-crisis level. This is because the revenue growth is likely to remain subdued as the company plans to offload some of its operating assets. Our dashboard What Factors Drove -75% Change In Alcoa Stock Between 2017 And Now? provides the key numbers behind our thinking.
Some of the stock price decline between 2017-2019 was justified by more than a 10% decrease in Alcoa revenues during this period. With Alcoa’s revenue declining in 2019 and dropping below its 2017 level, the P/S (price-to-sales) multiple has seen a continuous drop over the years as the stock price also declined. The stock also suffered with Alcoa reporting losses in 2019. Alcoa’s P/S multiple dropped from 0.9x in 2017 to 0.4x in 2019. The multiple slumped sharply in 2020 following the outbreak of the pandemic which led to a decline in aluminum prices. The multiple currently stands at 0.24x. We believe that the company’s P/S multiple has the potential to rise marginally to over 0.25x in the near-term as aluminum prices are expected to remain elevated following the gradual lifting of lockdowns. This is likely to lead to an uptick in the stock price as the crisis abates.
What’s the upside trigger?
Aluminum prices were dropping since late 2019 as an increasing number of steel players were shedding capacity due to lower demand from automobiles. Also, primary aluminum prices were affected due to increased exports of semi products from China. To make things worse, the global spread of coronavirus led to lockdown in various cities across the globe, which affected industrial and economic activity. The aluminum demand from industry players affects global aluminum price levels, in turn impacting the company’s price realization for its products. Lower demand from construction and automobile players, has led to a drop in global aluminum prices from $1,820/ton in January 2020 to $1,570/ton in June 2020. This was reflected in the Q2 2020 results where Alcoa’s revenues decreased 21% y-o-y. However, with the gradual lifting of lockdowns, aluminum prices have rebounded since June and have increased to over $1,840/ton in October 2020. Increase in price realization was reflected in the 10% sequential rise in Alcoa’s revenues in Q3 2020 (compared to Q2 2020).
The actual recovery and its timing hinge on the broader containment of the coronavirus spread. Our dashboard Trends In U.S. Covid-19 Cases provides an overview of how the pandemic has been spreading in the U.S. and contrasts with trends in Brazil and Russia. Despite recovery in aluminum prices, the stock is unlikely to see major upside in the near term as the company’s revenues are not expected to see a sharp rise. As a part of a restructuring, Alcoa has put part of its aluminum assets under review. This is likely to hit the top line adversely in the near term. However, margins are likely to improve from 2021 as the company shifts its focus to its core assets and operations. Thus, an increase in aluminum prices, the company’s renewed focus on core operations with expectations of better earnings, and with investors’ focus having shifted to 2021 numbers, Alcoa’s stock is likely to go up slightly despite recovering 145% over recent months. As per Trefis, Alcoa’s valuation works out to $14 per share.
What if you’re looking for a more balanced portfolio instead? Here’s a high quality portfolio to beat the market, with over 100% return since 2016, versus 55% for the S&P 500. Comprised of companies with strong revenue growth, healthy profits, lots of cash, and low risk, it has outperformed the broader market year after year, consistently.
See all Trefis Price Estimates and Download Trefis Data 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.
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Despite an impressive rise of about 145% since the March lows of this year, at the current price of over $13 per share, we believe Alcoa stock (NYSE: AA) is still below its near-term potential. We believe that the company’s P/S multiple has the potential to rise marginally to over 0.25x in the near-term as aluminum prices are expected to remain elevated following the gradual lifting of lockdowns. To make things worse, the global spread of coronavirus led to lockdown in various cities across the globe, which affected industrial and economic activity.
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Despite an impressive rise of about 145% since the March lows of this year, at the current price of over $13 per share, we believe Alcoa stock (NYSE: AA) is still below its near-term potential. The aluminum demand from industry players affects global aluminum price levels, in turn impacting the company’s price realization for its products. Lower demand from construction and automobile players, has led to a drop in global aluminum prices from $1,820/ton in January 2020 to $1,570/ton in June 2020.
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Despite an impressive rise of about 145% since the March lows of this year, at the current price of over $13 per share, we believe Alcoa stock (NYSE: AA) is still below its near-term potential. The aluminum demand from industry players affects global aluminum price levels, in turn impacting the company’s price realization for its products. Despite recovery in aluminum prices, the stock is unlikely to see major upside in the near term as the company’s revenues are not expected to see a sharp rise.
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Despite an impressive rise of about 145% since the March lows of this year, at the current price of over $13 per share, we believe Alcoa stock (NYSE: AA) is still below its near-term potential. With Alcoa’s revenue declining in 2019 and dropping below its 2017 level, the P/S (price-to-sales) multiple has seen a continuous drop over the years as the stock price also declined. Aluminum prices were dropping since late 2019 as an increasing number of steel players were shedding capacity due to lower demand from automobiles.
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db48551e-3d5f-48a9-8717-44fbf677d4d3
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1108.0
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2020-10-27 00:00:00 UTC
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Pre-Market Most Active for Oct 27, 2020 : AMD, SPI, XLNX, SAP, FE, IFF, ET, AAPL, NIO, CCL, QQQ, AAL
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AA
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https://www.nasdaq.com/articles/pre-market-most-active-for-oct-27-2020-%3A-amd-spi-xlnx-sap-fe-iff-et-aapl-nio-ccl-qqq-aal
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nan
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nan
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The NASDAQ 100 Pre-Market Indicator is up 45.16 to 11,549.68. The total Pre-Market volume is currently 26,971,812 shares traded.
The following are the most active stocks for the pre-market session:
Advanced Micro Devices, Inc. (AMD) is +0.97 at $83.20, with 9,109,272 shares traded. Reuters Reports: Wall St set to rise after Monday''s selloff as earnings take center stage
SPI Energy Co., Ltd. (SPI) is +2.36 at $10.30, with 5,324,479 shares traded.
Xilinx, Inc. (XLNX) is +18.3 at $132.85, with 2,790,785 shares traded. Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Dec 2020. The consensus EPS forecast is $0.71. XLNX's current last sale is 118.62% of the target price of $112.
SAP SE (SAP) is +3.22 at $118.24, with 972,786 shares traded. SAP's current last sale is 70.17% of the target price of $168.5.
FirstEnergy Corp. (FE) is unchanged at $33.32, with 616,649 shares traded. Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Sep 2020. The consensus EPS forecast is $0.8. FE is scheduled to provide an earnings report on 11/2/2020, for the fiscal quarter ending Sep2020. The consensus earnings per share forecast is 0.8 per share, which represents a 76 percent increase over the EPS one Year Ago
International Flavors & Fragrances, Inc. (IFF) is unchanged at $108.95, with 544,927 shares traded.IFF is scheduled to provide an earnings report on 11/2/2020, for the fiscal quarter ending Sep2020. The consensus earnings per share forecast is 1.45 per share, which represents a 153 percent increase over the EPS one Year Ago
Energy Transfer L.P. (ET) is -0.38 at $5.80, with 538,018 shares traded. As reported by Zacks, the current mean recommendation for ET is in the "buy range".
Apple Inc. (AAPL) is +0.53 at $115.58, with 528,003 shares traded. Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Sep 2020. The consensus EPS forecast is $0.69. AAPL is scheduled to provide an earnings report on 10/29/2020, for the fiscal quarter ending Sep2020. The consensus earnings per share forecast is 0.69 per share, which represents a 76 percent increase over the EPS one Year Ago
NIO Inc. (NIO) is +0.32 at $26.33, with 496,710 shares traded. NIO's current last sale is 121.06% of the target price of $21.75.
Carnival Corporation (CCL) is +0.12 at $14.15, with 476,736 shares traded. CCL's current last sale is 91.29% of the target price of $15.5.
Invesco QQQ Trust, Series 1 (QQQ) is +1.35 at $281.82, with 443,489 shares traded. This represents a 70.87% increase from its 52 Week Low.
American Airlines Group, Inc. (AAL) is +0.14 at $11.94, with 428,042 shares traded. AAL's current last sale is 119.4% of the target price of $10.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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AAPL is scheduled to provide an earnings report on 10/29/2020, for the fiscal quarter ending Sep2020. Apple Inc. (AAPL) is +0.53 at $115.58, with 528,003 shares traded. American Airlines Group, Inc. (AAL) is +0.14 at $11.94, with 428,042 shares traded.
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Apple Inc. (AAPL) is +0.53 at $115.58, with 528,003 shares traded. AAPL is scheduled to provide an earnings report on 10/29/2020, for the fiscal quarter ending Sep2020. American Airlines Group, Inc. (AAL) is +0.14 at $11.94, with 428,042 shares traded.
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Apple Inc. (AAPL) is +0.53 at $115.58, with 528,003 shares traded. AAPL is scheduled to provide an earnings report on 10/29/2020, for the fiscal quarter ending Sep2020. American Airlines Group, Inc. (AAL) is +0.14 at $11.94, with 428,042 shares traded.
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Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Sep 2020. Apple Inc. (AAPL) is +0.53 at $115.58, with 528,003 shares traded. AAPL is scheduled to provide an earnings report on 10/29/2020, for the fiscal quarter ending Sep2020.
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458d2255-975b-4c0b-94f8-55e8e60f83a0
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1109.0
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2020-10-22 00:00:00 UTC
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Big Bank Earnings Recap
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AA
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https://www.nasdaq.com/articles/big-bank-earnings-recap-2020-10-22
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nan
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nan
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In this week's episode of Industry Focus: Financials, host Jason Moser and Fool.com contributor Matt Frankel, CFP, dive into earnings from JPMorgan Chase (NYSE: JPM), Wells Fargo (NYSE: WFC), Goldman Sachs (NYSE: GS), Morgan Stanley (NYSE: MS), and Bank of America (NYSE: BAC) to look for the important points and trends investors need to know. And don't forget, earnings season is just getting started. Hear why Matt is keeping his eye on Live Oak Bancshares (NASDAQ: LOB) and Jason is watching Ameris Bancorp (NASDAQ: ABCB).
To catch full episodes of all The Motley Fool's free podcasts, check out our podcast center. To get started investing, check out our quick-start guide to investing in stocks. A full transcript follows the video.
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This video was recorded on October 19, 2020.
Jason Moser: It's Monday, October 19th. I'm your host Jason Moser, and on this week's Financial show, we've got the biggest and baddest banks' earnings reviewed this side of the Mississippi. And thanks to technology, anyone on either side of the Mississippi can hear it. Joining me, to take us through it all, is my partner in crime, Certified Financial Planner, Matt Frankel. Matt, how is everything going?
Matt Frankel: Pretty good. That was the coolest intro to a show I've ever heard you do.
Moser: [laughs] You like that, huh! I mean, you know, you got to get creative; that's the fun part about doing these shows, you get a little bit of creative freedom to kind of go in there and do what you want, as long as it doesn't have to be bleeped out, right, that's the line.
Frankel: Exactly. That's something that's changed since we stopped doing them, you know, prerecorded. [laughs]
Moser: [laughs] Yeah, sometimes what happens in the studio, stays in the studio, and now it's all out there for everyone to see. But, ah! We digress. Matt, last week was a very big week, earnings-palooza kicked off, and as tradition is with every quarter, the big banks were the ones that really got us rolling here. We wanted to go ahead and devote today's show to actually taking a look back at five of the earnings reports that really stood out to us. We've got JPMorgan, we've got Wells Fargo, we've got Goldman Sachs, we've got Morgan Stanley, we've got Bank of America. And let's go ahead and kick it off with JPMorgan. This is a bank, Matt, and there's a lot to like about this bank. I think maybe what we like the most about it -- I think what I like the most about it, at least, is leadership. I think Jamie Dimon is certainly one of a kind. And I don't know about you, and I want to get your take on this, I don't know about you, but when I was reading through the call there was so much language in there that just leads me to believe that Jamie Dimon is taking such a broad approach to this point in time, this environment that the banks are dealing with the pandemic and whatnot, he is taking such a broad approach, JPMorgan is seemingly prepared for any and all outcomes regardless the scenario. Which, I mean, I'm not a shareholder, but if I were, I'd certainly be very encouraged. But I want to kick it to you, in regard to JPMorgan's earnings release, what were one or two of the things that stood out to you that this bank is doing really well.
Frankel: Well, first, you mentioned what Jamie Dimon said. I remember earlier in the year, kind of, similar to what you just said, during the height of the pandemic, they said they were in their own stress test, you remember that. You know, banks are required to run stress tests every year, the Federal Reserve requires it. They ran one day that was much more intense than what the Fed requires and still passed with flying colors. So, like you said, they are ready for anything. One thing that stood out to me that Jamie Dimon said this quarter, we've been talking a lot about brokerage consolidation in the past few weeks. And he said that JPMorgan Chase is very interested in acquisitions on the asset management front. So, I thought that was really interesting. So, we might see a lot more consolidation there.
But just getting to the numbers, JPMorgan Chase, they beat on the top- and bottom-line, which we don't pay that much attention to headline numbers, but it's interesting to know. If a stock moves one way or another that's usually why, and I mean, it kind of gives you the big picture of how the business is doing.
But digging in is a little bit more important. One reason JPMorgan is the most closely watched bank earnings report, it's not just because it's the biggest, it's because it's the first. Every earnings season they're the first of the big banks to report, I think, by like an hour. I think Citigroup was, like, an hour later. But even so, that's like, all eyes on JPMorgan to see how things are going.
Moser: You remember how it used to be based on Alcoa, it wasn't even that long ago, and Alcoa was what kicked this thing off. Talk about, like, who cares? I mean, I hate to throw nothing-burger out there, but it sure feels like Alcoa is just kind of a big nothing-burger these days.
Frankel: Right. I feel like for a long time they were famous because they kicked off earnings season.
Moser: [laughs] Yeah, I think you're right.
Frankel: But now it's pretty much JPMorgan Chase. So, they report, I think, 7:00 AM on earnings day. I think everyone else that reports, reports at 8:00.
But anyway, so the big thing the people were looking at was, how bad is the pandemic going to be on banks? And the way you've been able to tell that so far was how much they're setting aside to cover loan losses. Between the first and second quarters, for example, JPMorgan Chase set aside $15 billion or so in anticipation of loan losses, which if the COVID recession was really worse than expected, that might not have been enough, but it turns out that that was enough. Banks seem to be pumping the brakes on their loan loss reserves, and JPMorgan Chase actually released a little bit of reserves this quarter, instead of building it up, which is a really, really good sign. You know, they have pretty big investment banking operations, so, you know, trading tends to do better when the market is volatile, and that's exactly what we saw here. Bond trading revenue was up 30% year-over-year, their investment banking fee revenue was up double digits. So, the investment banking aspect of a lot of these banks we're going to talk about, including JPMorgan Chase, really kind of held them up in the face of a poor interest rate environment. You know, when interest rates are at rock-bottom levels, it's not exactly a great profit model for companies that loan money. But investment banking tends to do better during hard times, and that really helps balance out their second quarter results in terms of the losses in, like, interest margin, things like that.
Moser: Is there anything going on that gives you pause or something you feel like investors ought to be keeping their eyes on? I mean, this is really one of the best run banks out there, I think. So, this is kind of one that I put them in a little bit of a class of their own, but you know, nobody is perfect, I mean, there's got to be something out there that we want to be watching.
Frankel: Well, like you said, they're pretty much prepared for anything, but this could be a bad recession if things don't go well. If we don't get stimulus, for example. If the low interest environment continues to get worse, you know, mortgage rates plunge to, like, 1% or 2% from the current 3%, you know, that would be a problem. But what you want to keep an eye on really are the macroeconomic factors that govern bank profits. Like, I'm watching unemployment when I want to see how bad it's going to be for banks, and stimulus. I mean, the fact that they released some reserves is definitely a good sign, but you don't want to see that reverse course; it's really the number to keep an eye on.
Moser: Well, let's move over to Wells Fargo, this is the one that has, sort of, taken Bank of America's place as being, you know, the financial media's whipping post, so to speak. It just seems like they can't really do anything right. And, you know, this wasn't the greatest quarter in the world, I think we all kind of expected that, but then, of course, you have that whole PPP [Paycheck Protection Program] loan scandal, where you've got employees lying to obtain loans. It seems like it's just one thing after another. And a quote that came from the call basically said that their top priority continues to be the implementation of risk control and regulatory work. And I feel like that maybe is top priority 1A, and 1B, clearly, is the culture. I mean, there's stuff going on within this company that hasn't fully really been fixed yet. But let's go glass half-full here first. What about this quarter for Wells Fargo did you like?
Frankel: Well, to be fair, they are more closely scrutinized every other bank right now. So, you're going to find a lot more ...
Moser: It seems like they earned it, but go on... [laughs]
Frankel: Oh, they absolutely did. Like Buffett says, when you find a cockroach in the kitchen, there's usually not just one. So, now that they found the cockroach in the kitchen, which was the fake accounts scandal, now everything else they do is really scrutinized. And the latest thing was purely employees doing things on their own, it's worth mentioning. They didn't defraud anybody, it didn't affect any of Wells Fargo's customers, it was employees behaving badly.
Moser: Yeah. And it likely wasn't even really a faulty incentive structure. I mean, it seems like it really was, just like you said, I mean, just a few bad apples.
Frankel: Right. And because Wells Fargo is so scrutinized, they just kind of fell under the microscope. But this is a stock that trades for 60% of its book value, which is -- I mean, a while ago Wells Fargo, not a while ago, Wells Fargo was the most valuable bank stock by price-to-book. I mean, they were regularly trading at 1.5X book or even more. And so, they're trading for literally about [laughs] less than half of what they used to, so.
But going into this quarter, their net interest income was down by 90%, which Wells Fargo is purely a commercial bank, so this is to be expected in a low interest environment. They missed earnings, but they were profitable which is definitely a good sign. Remember the second quarter they had a big red hour there with profitability and remember, they had to cut their dividend because they had to set aside so much in reserves. That wasn't the case this quarter. They were profitable, they earned enough that if this continues, they'll be able to reinstitute their dividend where it was.
They did set aside loan losses. They were the only of the big banks, I think, that actually had to build their reserves this quarter, but it was by less than was expected. They were expected to set aside about $1.8 billion, they set aside about $0.8 billion. So, that was good news. That's compared to $9.5 billion in the second quarter that they had to set aside for losses. So, this is definitely [laughs] an improvement.
But like I said, Wells Fargo is, out of the five we're talking about, the closest thing to a pure savings and loan that we're getting out of the big banks. So, they are the most affected by the pandemic, because they don't have that investment banking revenue to really boost their bottom-line in tough times, like all the other big banks do. And it's really weighing on them. I mean, the fake accounts scandal was chapter one, and then the COVID pandemic was chapter two, in terms of just their underperformance of the market. And it doesn't seem to be letting up anytime soon.
Although, this quarter didn't look as bad as expected, it's still worse than the other banks, because they are purely on the commercial side of the business, and you know, the low interest rates are just punching them in the face right now.
Moser: Yeah. And you know, I was looking at this earlier before we started taping, just taking a look at all five of these banks, their year-to-date performance. And listen, [laughs] no one is lighting the world on fire. You've got Morgan Stanley leading the pack, and they're essentially flat for the year, all of them trailing the market, but Wells Fargo is just having just a really tough year, shares down close to 60%. And I guess my question with Wells Fargo, before we move on, you have to believe, given the scale of this bank, given its presence in the mortgage space, given its presence in the consumer banking space, I mean, this is not a bank that's just going to go away, it just, it can't happen. It feels like this really is a value play, right? I don't feel like this is a value trap. It may take a little bit longer, but given how far the stock has fallen, I mean, how are you looking at this? Are you looking at this more as a value play or do you feel like this is more like a value trap?
Frankel: Well, for all of their flaws, Wells Fargo has a pretty impressive history of low-risk lending. This is how they were able to pick up Wachovia at a fire sale price during the financial crisis, this is how they -- you know, their stock got hit worse than most in the '08, '09 period. They have a long history of responsible risk management. So, I don't think that's changed. And we thought just the loan losses, the reserves they had to set aside, were a lot less than expected this quarter because we're seeing this -- you know, the COVID losses began to play out a little bit more favorably than expected. I see them definitely at 60% of book value as a value play. I don't think Wells Fargo is going to go away, I don't even really think there's a good chance that any of the big banks are going to get acquired, I just think they're going to, you know, survive this storm and move on. I don't really think it's going to do that much permanent damage to their profitability. I mean, the bigger issue is, the interest rates for them, you know, the low interest environment is killing them, the Federal reserve penalty, the restriction where they're not allowed to grow, I think, is still in place. I know it was lifted temporarily for PPP reasons, but I think generally that Fed restriction is still in place. But I think they're going to make it; they're not going to go away anytime soon.
Moser: Yeah, I tend to agree. I mean, we love to give them a hard time here on the show for obvious reasons. [laughs] And you look just, not all that long ago, there's another example out there in Bank of America that, listen, they went through their own stretch, but, you know, focused leadership, obviously the scale of the company, brought things back around; that's worked out pretty well for investors. We'll talk about that in just a minute.
But before we get there, let's talk a little bit about Goldman Sachs, because this is kind of the opposite of Wells Fargo, right? This is going to be more a story really about the benefits of the investment banking operations, even while credit growth for Goldman remains a challenge.
Frankel: I mean, Goldman, we've talked about it before, is pushing more into the consumer space. But like you said, they're still mostly an investment bank. On the consumer side, their consumer banking revenue grew 50% year-over-year ...
Moser: There were a lot of good things about Marcus on that call, I saw.
Frankel: There was. And the biggest driver of that 50% was the Apple Card higher credit card lending balances. But just their revenue was off the charts, up 30% year-over-year, their earnings were almost $10/share, that is the biggest quarter Goldman's ever had. So, during the middle of the pandemic, to have [laughs] your record earnings, that's pretty impressive. I mean, that shattered expectations.
And the reason, like I said, is because a lot of investment banking operations do better during tough times. Goldman's trading revenue was up 29% year-over-year, asset management revenue was up 71%. I mean, they're firing on all cylinders. IPO underwriting was doing phenomenally well. I mean, anyone who's followed the market knows that the IPO market has just exploded this year. And equity underwriting is a big part of Goldman's business. So, the investment banking business is doing the complete opposite of what Wells Fargo's doing. I'm actually shocked that Goldman is not up for the year, after reading numbers like this. And not just this, the quarter before, if you remember, the second quarter was their second-best quarter ever.
So, when you're seeing these kinds of numbers, I mean, Goldman trades for about -- let me do the math real quick. Goldman trades for about 20X this quarter's earnings. [laughs] That's a crazy low valuation. And like I said, I'm shocked that Goldman is not a little more expensive than it is.
Moser: Yeah, that's it. You know, it struck me as well, like, looking at this chart, and the returns, I mean, Goldman down around 10% for the year and given the results that they've brought in, it certainly feels like they could be better, but I guess that also is, that speaks a little bit to just the general feeling in the market today regarding banks writ large. I mean, they're all dealing with the fair sets of challenges, it's just, you know, thankfully for Goldman Sachs, they have that investment banking operation to fall back on.
Frankel: Investment banking revenue is also less consistent, it's worth mentioning.
Moser: Yeah, that's a good point there. It's like Disney's theater division, right, it's lumpy. Sometimes it's good, sometimes it's not so great.
Frankel: Right. Trading revenue goes like this. Yeah, it's a rollercoaster ride from quarter-to-quarter. So, just because trading revenue was strong this year, has no bearing on what it's going to do next year. As opposed to commercial banking, you build your loan portfolio by $100 billion, that produces residual income that comes in quarter-after-quarter, whereas investment banking is a lot less predictable, so the market does discount that a little bit.
Moser: Excellent point. Well, speaking of investment banking, let's talk a little bit about Morgan Stanley. And I think the thing that stood out to me with Morgan Stanley really was the Eaton Vance acquisition they announced. I mean, that was a pretty big deal, it's going to bring a good chunk of change under their umbrella in regard to assets under management, and give them a little bit more of an ESG presence, which I think is very forward thinking. But what stood out to you from Morgan Stanley's quarter?
Frankel: You know, it's interesting that Goldman Sachs and Morgan Stanley are the two biggest investment banks in the country, and they're really going two different directions when it comes to bringing their brands to the masses. Goldman is doing the commercial thing with Marcus and the Apple Card and things like that, whereas Morgan Stanley is pushing into the brokerage space on the retail level. You know, they just finalized the acquisition of E*Trade, they're buying out Eaton Vance, the asset manager.
What really stood out to me, I mentioned equity underwriting when we were talking about Goldman, how IPOs have just, kind of, been off the chart. Morgan Stanley's equity underwriting revenue more than doubled from the same quarter a year ago. That's pretty impressive, it just kind of indicates just how active, I guess, you'd say the IPO market has been this year. Trading revenue was strong up 20% year-over-year. They earned more than the market had expected. The revenues were up 16% year-over-year. So, the, kind of, key takeaway I had from Morgan Stanley is that they had a very strong quarter, they weren't quite what Goldman was in terms of just, kind of, a blowout record-setting quarter, but that's just because some of their business works a little bit differently, especially on the investment side. Goldman has a big portfolio of investments, and Morgan Stanley relies a little bit less on things like that. But you know, I couldn't find that much I didn't like in Morgan Stanley's report.
Moser: Yeah, it seems like consolidation is certainly going to be a big theme of their strategy going forward, at least in the near term. I mean, that Eaton Vance acquisition they saw as essentially inevitable; if they didn't do it, someone else would. And I'd imagine, they're already looking around to see what else they might be able to bring into their universe as well.
Let's go ahead and wrap it up with what I think is probably your favorite bank out there today is an investment, given what we've talked about on the show here before, Bank of America. And again, this has been really an impressive story to watch from a number of different angles, but I think that Brian Moynihan, the CEO, has really done a tremendous job with the business, particularly given the situation that he stepped into. I mean, he did turn the conversation around here and shareholders are certainly reaping the benefits of that today.
And the quote that stood out to me on the call, because this really tells you what's on his mind, where he is thinking, he said, "The operating environment continues to require more operational excellence than ever before." So, it really feels like they're focusing not only on maintaining the culture of the business, but making sure that everything is in order and they're being as efficient and as effective as possible with what they have.
Frankel: Yeah, they've really done a fantastic job over the past decade, over the past few years especially, of just really prioritizing business efficiency, responsible lending, and it's really been reflected in their profitability. You mentioned that they're probably my favorite, and you're right. And it's because they're probably the best combination of profitability, and safety, and growth in the banking space at that kind of a valuation. They trade for a significantly lower price-to-book multiple than, say, a JPMorgan Chase. And I would put their operations, not necessarily on equal footing, but pretty close, at this point.
Bank of America is also a much more even mix of investment banking and consumer banking, which I really like, because in times like these, it really helps kind of boost their revenue. And then in times when it's a really good consumer environment, they get to benefit from that as well.
Just kind of running through some of the numbers that really stood out to me. Well, one, their charge-off ratio declined from the second quarter to the third, which is definitely an encouraging sign. Like JPMorgan Chase, they released some of their reserves instead of building their reserves, which is very encouraging, that means that the impact of COVID isn't going to be quite what they thought it was going to be. Revenue overall was down 11%, much better than Wells Fargo or pure commercial banks. Interest income was down 17%, but on the same time, consumer loans were up 5% year-over-year, which is pretty impressive given the environment. Consumer deposits, if you've been following that at all, people have been socking away money like crazy, which generally happens around a recession. So, consumer deposits are up 21% year-over-year.
They had their second-best investment banking quarter ever; this is where the investment banking, kind of, offset comes in. Investment banking fee income was up 15% year-over-year, it's just a really strong quarter on the investment side of the business. And they earned more than enough to cover their dividend, they beat expectations, but I wouldn't judge any of these banks on just the bottom-line number right now, you really have to look at what's going on, like I said, their loan loss trends, what's going on in the investment banking business, whether their interest income is holding up OK or not, and growth, I mean, growing your loan portfolio that's long-tailed income, deposit portfolio gives you more capital to lend.
And even before the pandemic, out of the big four, Bank of America was putting up the best growth numbers consistently, and growing their loan portfolio by 4% when everyone else was at 1% or 2%. They've been slowly outperforming for a little while. So, I like Bank of America for that reason. I think they're going to continue to improve their efficiency and this might even accelerate Moynihan's plans to do that. And I just see a very bright future for them. They're not quite at the JPMorgan Chase level, but I see them getting to equal footing before too long.
Moser: Nice. Well, I'm going to put you on the spot here then, as I love to do, Matt; [laughs] and this is neither here nor there. But you know, taking a look at this most recent quarter here, of all five banks right here, if you had to crown a winner of this earnings season out of these five, who would you give the crown to?
Frankel: I'd have to give it to Goldman. If I were to pick just one; just I mean, when you look at what was expected of them for the quarter -- we knew they were going to have a strong quarter, but they just kind of just destroyed expectations for the quarter. And I couldn't find anything in that report that wasn't impressive; not just that it was good, but that it just wasn't just like off the charts impressive. So, they had a great quarter, they're not going to keep it up. [laughs] They're not going to have, you know, record after record after record, this a product of the times. But as far as this earnings season, I have to give the title to Goldman.
Moser: All right. Well, for the quarter, Goldman takes the gold. Matt, before we wrap things up, as we like to do when time allows, we want to give our listeners one to watch for the coming week. And given that earnings season is now kicked into full gear, we should have plenty to watch. What is your one stock that you're watching this week?
Frankel: One of my favorite smaller banks is Live Oak Bancshares, ticker symbol is LOB. They are a small business lender; they also have a high-yield deposit platform online. They're really specialized small business lenders and one of the biggest Small Business Administration, SBA, lenders in the country. And they really got a nice tailwind from the PPP loans. They're really a relationship-focused bank, and I think that's going to really pay dividends in a time like this where they really know their customers well, they have a history of having a much lower default rate than their peers, and I think this is the environment where you really need that. So, I'm watching what they have to say when they put out their earnings; I think it's Wednesday, but I'm not sure exactly the date, I think it's Wednesday.
Moser: Yeah, we had the President of the bank, Huntley Garriott, on the show a little while back too; that was a lot of fun. Need to reach out to see if they want to come back on and talk about the state of banking these days, particularly for smaller banks.
I, too, am going to go with a smaller bank, shocker, Ameris Bancorp. I'm sure listeners remember that one; [laughs] I've mentioned it once or twice on the show. But yeah, Ameris Bancorp earnings will come out Thursday, this Thursday after the market closes. Then I believe they have a call Friday morning. So, I'm really just excited to see what is going on with the company. Metrics that we pay attention to, looking at total assets, total deposits. Looking at total assets there, just under $20 billion from a quarter ago. So, we'll see how growth is looking there.
Another point to focus on, I think, and this really had a lot to do with the Fidelity acquisition they made, is the percentage of deposits that are non-interest bearing. I mean, the more non-interest bearing deposits, the more they're able to bring down to the bottom-line, and that was part of that acquisition. They noted that last quarter noninterest bearing deposits made up 36% of total deposits, up 30% from a year ago. So, we'll see where that stands this quarter as well.
And then, for me, really the big point of focus, and they talked about this on the call a little bit is, now that they've digested the Fidelity acquisition, there is certainly the chance of another acquisition happening at some point or another. And they're thinking big, I mean, they're talking about anywhere from $2.5 billion up, so that could be a very interesting situation; kind of like Teladoc-Livongo, merger of equals, perhaps, in the future for Ameris. But we'll be very interested to see what management has to say there.
You know, it's not been the greatest time for banks, but I remain a very happy shareholder of Ameris, I'm happy to be patient with them, I like what they're doing, I trust management there, and I think that they have a lot of opportunity to grow. Very community focused, just like Live Oak, just like you talked about there, Matt.
But I think that's going to do it for us this week, folks. Matt, I appreciate you taking the time to jump on again and give us all of that great insight as to the five bigs from last week, what you thought of their quarters, I'm sure listeners are thankful as well for all that great information. I appreciate you taking the time.
Frankel: Of course. Always fun to talk about banks with you.
Moser: Yep, absolutely. And that's going to do it for us this week, folks. Remember, you can always reach out to us on Twitter @MFIndustryFocus or you can drop us an email at IndustryFocus@Fool.com. We always want to hear what you have to say.
As always, people on the program may have interests in the stocks they talk about, and The Motley Fool may have formal recommendations for or against, so don't buy or sell stocks based solely on what you hear.
Thanks, as always, to Tim Sparks for putting the show together for us. For Matt Frankel, I'm Jason Moser, thanks for listening, and we'll see you next week.
Jason Moser owns shares of Ameris Bancorp and Teladoc Health. Matthew Frankel, CFP owns shares of Apple, Bank of America, Goldman Sachs, Walt Disney, and Wells Fargo and has the following options: short January 2021 $23 puts on Bank of America and short November 2020 $22.5 puts on Wells Fargo. The Motley Fool owns shares of and recommends Apple, Live Oak Bancshares, Livongo Health Inc, Teladoc Health, Twitter, and Walt Disney. The Motley Fool recommends Ameris Bancorp and recommends the following options: long January 2021 $60 calls on Walt Disney. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Although, this quarter didn't look as bad as expected, it's still worse than the other banks, because they are purely on the commercial side of the business, and you know, the low interest rates are just punching them in the face right now. [laughs] And you look just, not all that long ago, there's another example out there in Bank of America that, listen, they went through their own stretch, but, you know, focused leadership, obviously the scale of the company, brought things back around; that's worked out pretty well for investors. Frankel: You know, it's interesting that Goldman Sachs and Morgan Stanley are the two biggest investment banks in the country, and they're really going two different directions when it comes to bringing their brands to the masses.
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In this week's episode of Industry Focus: Financials, host Jason Moser and Fool.com contributor Matt Frankel, CFP, dive into earnings from JPMorgan Chase (NYSE: JPM), Wells Fargo (NYSE: WFC), Goldman Sachs (NYSE: GS), Morgan Stanley (NYSE: MS), and Bank of America (NYSE: BAC) to look for the important points and trends investors need to know. Matthew Frankel, CFP owns shares of Apple, Bank of America, Goldman Sachs, Walt Disney, and Wells Fargo and has the following options: short January 2021 $23 puts on Bank of America and short November 2020 $22.5 puts on Wells Fargo. The Motley Fool owns shares of and recommends Apple, Live Oak Bancshares, Livongo Health Inc, Teladoc Health, Twitter, and Walt Disney.
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In this week's episode of Industry Focus: Financials, host Jason Moser and Fool.com contributor Matt Frankel, CFP, dive into earnings from JPMorgan Chase (NYSE: JPM), Wells Fargo (NYSE: WFC), Goldman Sachs (NYSE: GS), Morgan Stanley (NYSE: MS), and Bank of America (NYSE: BAC) to look for the important points and trends investors need to know. Bank of America is also a much more even mix of investment banking and consumer banking, which I really like, because in times like these, it really helps kind of boost their revenue. And they earned more than enough to cover their dividend, they beat expectations, but I wouldn't judge any of these banks on just the bottom-line number right now, you really have to look at what's going on, like I said, their loan loss trends, what's going on in the investment banking business, whether their interest income is holding up OK or not, and growth, I mean, growing your loan portfolio that's long-tailed income, deposit portfolio gives you more capital to lend.
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Goldman trades for about 20X this quarter's earnings. And I couldn't find anything in that report that wasn't impressive; not just that it was good, but that it just wasn't just like off the charts impressive. For Matt Frankel, I'm Jason Moser, thanks for listening, and we'll see you next week.
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9fee7bbd-a445-4d4f-b2fe-6fac1b84f9db
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1110.0
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2020-10-21 00:00:00 UTC
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After 70% Rise, Having Alcoa In Your Portfolio May Not Make Sense
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AA
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https://www.nasdaq.com/articles/after-70-rise-having-alcoa-in-your-portfolio-may-not-make-sense-2020-10-21
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nan
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nan
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Alcoa stock (NYSE: AA) increased an impressive 69% in the last six months and currently trades around $13 per share. The rise was mainly due to recovery in the aluminum prices as global lockdowns were gradually being lifted. But will Alcoa’s stock continue its upward trajectory over the coming weeks, or is a correction in the stock more likely?
According to the Trefis Machine Learning Engine, which identifies trends in a company’s historical stock price data, returns for Alcoa stock average close to -8.6% in the next one-month (21 trading days) period after experiencing a 69% rise over the previous six-month (126 trading days) period. Notably, though, the stock is likely to underperform the S&P500 over the next month, with an expected return which would be 9.6% lower compared to the S&P500.
But how would these numbers change if you are interested in holding Alcoa stock for a shorter or a longer time period? You can test the answer and many other combinations on the Trefis Machine Learning Engine to test Alcoa stock chances for a rise after a fall and vice versa. You can test the chance of recovery over different time intervals of a quarter, month, or even just 1 day!
MACHINE LEARNING ENGINE – try it yourself:
IF Alcoa stock moved by -5% over 5 trading days, THEN over the next 21 trading days, Alcoa stock moves an average of 1.2 percent, which implies a return which is 1 percent lower than that of the S&P500.
More importantly, there is a 46% probability of a positive return over the next 21 trading days and 39% probability of a positive excess return after a -5% change over 5 trading days.
Some Fun Scenarios, FAQs & Making Sense of Alcoa Stock Movements:
Question 1: Is the average return for Alcoa stock higher after a drop?
Answer:
Consider two situations,
Case 1: Alcoa stock drops by -5% or more in a week
Case 2: Alcoa stock rises by 5% or more in a week
Is the average return for Alcoa stock higher over the subsequent month after Case 1 or Case 2?
AA stock fares almost similar in both cases, with an average return of 1.2% over the next month (21 trading days) under Case 1 (where the stock has just suffered a 5% loss over the previous week), similar to an average return of 1.2% for Case 2.
In comparison, the S&P 500 has an average return of 3.1% over the next 21 trading days under Case 1, and an average return of just 0.5% for Case 2 as detailed in our dashboard that details the average return for the S&P 500 after a fall or rise.
Try the Trefis machine learning engine above to see for yourself how Alcoa stock is likely to behave after any specific gain or loss over a period.
Question 2: Does patience pay?
Answer:
If you buy and hold Alcoa stock, the expectation is over time the near term fluctuations will cancel out, and the positive trend over the next month and next quarter will favor you – at least if the company is otherwise strong.
Overall, according to data and Trefis machine learning engine’s calculations, patience absolutely pays for most stocks!
For AA stock, the returns over the next N days after a -5% change over the last 5 trading days is detailed in the table below, along with the returns for the S&P500:
Question 3: What about the average return after a rise if you wait for a while?
Answer:
If a stock has gained over the last few days, you would do better to avoid short-term bets for most stocks – although AA stock appears to be an exception to this general observation.
AA’s returns over the next N days after a 5% change over the last 5 trading days is detailed in the table below, along with the returns for the S&P500:
It’s pretty powerful to test the trend for yourself for Alcoa stock by changing the inputs in the charts above.
What if you’re looking for a more balanced portfolio instead? Here’s a high quality portfolio to beat the market, with over 100% return since 2016, versus 55% for the S&P 500. Comprised of companies with strong revenue growth, healthy profits, lots of cash, and low risk, it has outperformed the broader market year after year, consistently.
See all Trefis Price Estimates and Download Trefis Data here
What’s behind Trefis? See How It’s Powering New Collaboration and What-Ifs For CFOs and Finance Teams | Product, R&D, and Marketing Teams
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Alcoa stock (NYSE: AA) increased an impressive 69% in the last six months and currently trades around $13 per share. AA stock fares almost similar in both cases, with an average return of 1.2% over the next month (21 trading days) under Case 1 (where the stock has just suffered a 5% loss over the previous week), similar to an average return of 1.2% for Case 2. For AA stock, the returns over the next N days after a -5% change over the last 5 trading days is detailed in the table below, along with the returns for the S&P500: Question 3: What about the average return after a rise if you wait for a while?
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Alcoa stock (NYSE: AA) increased an impressive 69% in the last six months and currently trades around $13 per share. AA stock fares almost similar in both cases, with an average return of 1.2% over the next month (21 trading days) under Case 1 (where the stock has just suffered a 5% loss over the previous week), similar to an average return of 1.2% for Case 2. For AA stock, the returns over the next N days after a -5% change over the last 5 trading days is detailed in the table below, along with the returns for the S&P500: Question 3: What about the average return after a rise if you wait for a while?
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Alcoa stock (NYSE: AA) increased an impressive 69% in the last six months and currently trades around $13 per share. AA stock fares almost similar in both cases, with an average return of 1.2% over the next month (21 trading days) under Case 1 (where the stock has just suffered a 5% loss over the previous week), similar to an average return of 1.2% for Case 2. For AA stock, the returns over the next N days after a -5% change over the last 5 trading days is detailed in the table below, along with the returns for the S&P500: Question 3: What about the average return after a rise if you wait for a while?
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For AA stock, the returns over the next N days after a -5% change over the last 5 trading days is detailed in the table below, along with the returns for the S&P500: Question 3: What about the average return after a rise if you wait for a while? Alcoa stock (NYSE: AA) increased an impressive 69% in the last six months and currently trades around $13 per share. AA stock fares almost similar in both cases, with an average return of 1.2% over the next month (21 trading days) under Case 1 (where the stock has just suffered a 5% loss over the previous week), similar to an average return of 1.2% for Case 2.
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c97e813a-50a6-4f79-b112-be7d8269dd31
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1111.0
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2020-10-15 00:00:00 UTC
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Stock Alert: Alcoa Slips 10% On Q4 Outlook
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AA
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https://www.nasdaq.com/articles/stock-alert%3A-alcoa-slips-10-on-q4-outlook-2020-10-15
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nan
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nan
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(RTTNews) - Shares of Alcoa Corp. (AA) are losing almost 10 percent or $1.30 in Thursday's morning trade at $11.70 after the aluminum producer gave a soft outlook for the fourth quarter, even as its third-quarter loss came in narrower than analysts' estimates and revenue trumped expectations.
Wednesday, Alcoa reported third-quarter net loss of $49 million or $0.26 per share, narrower than last year's loss of $221 million or $1.19 per share. Adjusted loss was $1.17 per share, compared to loss of $0.44 per share a year ago. Revenues declined to $2.37 billion from $2.57 billion last year. Analysts polled by Thomson Reuters had a consensus estimate for loss of $1.38 per share on revenues of $2.23 billion.
For the fourth quarter, Alcoa expects flat sequential quarterly results in the Bauxite segment, lower sequential quarterly results In the Alumina segment, and a sequential decline in the Aluminum segment.
Alcoa has traded in a range of $5.16 to $23.47 in the past 52 weeks.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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(RTTNews) - Shares of Alcoa Corp. (AA) are losing almost 10 percent or $1.30 in Thursday's morning trade at $11.70 after the aluminum producer gave a soft outlook for the fourth quarter, even as its third-quarter loss came in narrower than analysts' estimates and revenue trumped expectations. Wednesday, Alcoa reported third-quarter net loss of $49 million or $0.26 per share, narrower than last year's loss of $221 million or $1.19 per share. Analysts polled by Thomson Reuters had a consensus estimate for loss of $1.38 per share on revenues of $2.23 billion.
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(RTTNews) - Shares of Alcoa Corp. (AA) are losing almost 10 percent or $1.30 in Thursday's morning trade at $11.70 after the aluminum producer gave a soft outlook for the fourth quarter, even as its third-quarter loss came in narrower than analysts' estimates and revenue trumped expectations. Wednesday, Alcoa reported third-quarter net loss of $49 million or $0.26 per share, narrower than last year's loss of $221 million or $1.19 per share. For the fourth quarter, Alcoa expects flat sequential quarterly results in the Bauxite segment, lower sequential quarterly results In the Alumina segment, and a sequential decline in the Aluminum segment.
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(RTTNews) - Shares of Alcoa Corp. (AA) are losing almost 10 percent or $1.30 in Thursday's morning trade at $11.70 after the aluminum producer gave a soft outlook for the fourth quarter, even as its third-quarter loss came in narrower than analysts' estimates and revenue trumped expectations. Wednesday, Alcoa reported third-quarter net loss of $49 million or $0.26 per share, narrower than last year's loss of $221 million or $1.19 per share. For the fourth quarter, Alcoa expects flat sequential quarterly results in the Bauxite segment, lower sequential quarterly results In the Alumina segment, and a sequential decline in the Aluminum segment.
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(RTTNews) - Shares of Alcoa Corp. (AA) are losing almost 10 percent or $1.30 in Thursday's morning trade at $11.70 after the aluminum producer gave a soft outlook for the fourth quarter, even as its third-quarter loss came in narrower than analysts' estimates and revenue trumped expectations. Wednesday, Alcoa reported third-quarter net loss of $49 million or $0.26 per share, narrower than last year's loss of $221 million or $1.19 per share. Analysts polled by Thomson Reuters had a consensus estimate for loss of $1.38 per share on revenues of $2.23 billion.
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05189e64-a8f6-4411-87bb-b9db5df01261
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1112.0
|
2020-10-15 00:00:00 UTC
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Why Shares of Alcoa Are Falling Today
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AA
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https://www.nasdaq.com/articles/why-shares-of-alcoa-are-falling-today-2020-10-15
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nan
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nan
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What happened
Shares of Alcoa (NYSE: AA) fell 10% on Thursday morning following the company's third-quarter earnings release. Results actually came in ahead of expectations, but investors were more focused on the company's weak forecast for the months ahead.
So what
After markets closed Wednesday, Alcoa reported a third-quarter loss of $1.17 per share on revenue of $2.37 billion, topping expectations for a $1.38-per-share loss on sales of $2.2 billion. Alcoa generated $84 million in free cash flow during the quarter and managed to grow adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) by 54% from the prior quarter thanks to improving demand for aluminum.
Image source: Getty Images.
The company also raised $750 million in new debt during the quarter, giving it a cash balance of $1.74 billion. And Alcoa said it is on pace to deliver about $900 million in cost savings and 2020.
"Across all of our segments, we are delivering solid results and continuing to improve overall performance," CEO Roy Harvey said in a statement. "We also boosted our company's liquidity, so we have even greater flexibility to execute on our strategy."
Alcoa's business has been hit by the COVID-19 pandemic, which has led to declines in industrial production and caused a corresponding fall in demand for aluminum and other metals. Though revenue in the quarter was higher than analysts had expected, it was down from $2.57 billion in the third quarter of 2019.
Now what
While the third quarter came in better than feared, Alcoa didn't give investors much to get excited about for the rest of the year. The company said it expects alumina and aluminum results to slip in the fourth quarter due to higher energy costs and a change of mix in customer shipments.
Alcoa also expects to feel the impact of a full quarter of tariffs, plus higher maintenance and seasonal labor costs.
Alcoa shares are off 45% for the year, and for investors right now the only choice is to wait out the pandemic and hope for an economic rebound once it is behind us. The third-quarter results gave every indication that will be a long wait, and the shares are under pressure Thursday as a result.
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Lou Whiteman has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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What happened Shares of Alcoa (NYSE: AA) fell 10% on Thursday morning following the company's third-quarter earnings release. Alcoa's business has been hit by the COVID-19 pandemic, which has led to declines in industrial production and caused a corresponding fall in demand for aluminum and other metals. The company said it expects alumina and aluminum results to slip in the fourth quarter due to higher energy costs and a change of mix in customer shipments.
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What happened Shares of Alcoa (NYSE: AA) fell 10% on Thursday morning following the company's third-quarter earnings release. So what After markets closed Wednesday, Alcoa reported a third-quarter loss of $1.17 per share on revenue of $2.37 billion, topping expectations for a $1.38-per-share loss on sales of $2.2 billion. Now what While the third quarter came in better than feared, Alcoa didn't give investors much to get excited about for the rest of the year.
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What happened Shares of Alcoa (NYSE: AA) fell 10% on Thursday morning following the company's third-quarter earnings release. Alcoa generated $84 million in free cash flow during the quarter and managed to grow adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) by 54% from the prior quarter thanks to improving demand for aluminum. 10 stocks we like better than Alcoa When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen.
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What happened Shares of Alcoa (NYSE: AA) fell 10% on Thursday morning following the company's third-quarter earnings release. The company also raised $750 million in new debt during the quarter, giving it a cash balance of $1.74 billion. Though revenue in the quarter was higher than analysts had expected, it was down from $2.57 billion in the third quarter of 2019.
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ad262fc3-9bec-48c3-817e-454c216d6bce
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1113.0
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2020-10-14 00:00:00 UTC
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Alcoa Corp. Q3 adjusted earnings Beat Estimates
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AA
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https://www.nasdaq.com/articles/alcoa-corp.-q3-adjusted-earnings-beat-estimates-2020-10-14
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(RTTNews) - Below are the earnings highlights for Alcoa Corp. (AA):
-Earnings: -$49 million in Q3 vs. -$221 million in the same period last year. -EPS: -$0.26 in Q3 vs. -$1.19 in the same period last year. -Excluding items, Alcoa Corp. reported adjusted earnings of -$218 million or -$1.17 per share for the period. -Analysts projected -$1.38 per share -Revenue: $2.37 billion in Q3 vs. $2.57 billion in the same period last year.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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(RTTNews) - Below are the earnings highlights for Alcoa Corp. (AA): -Earnings: -$49 million in Q3 vs. -$221 million in the same period last year. -Excluding items, Alcoa Corp. reported adjusted earnings of -$218 million or -$1.17 per share for the period. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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(RTTNews) - Below are the earnings highlights for Alcoa Corp. (AA): -Earnings: -$49 million in Q3 vs. -$221 million in the same period last year. -Excluding items, Alcoa Corp. reported adjusted earnings of -$218 million or -$1.17 per share for the period. -Analysts projected -$1.38 per share -Revenue: $2.37 billion in Q3 vs. $2.57 billion in the same period last year.
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(RTTNews) - Below are the earnings highlights for Alcoa Corp. (AA): -Earnings: -$49 million in Q3 vs. -$221 million in the same period last year. -Analysts projected -$1.38 per share -Revenue: $2.37 billion in Q3 vs. $2.57 billion in the same period last year. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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(RTTNews) - Below are the earnings highlights for Alcoa Corp. (AA): -Earnings: -$49 million in Q3 vs. -$221 million in the same period last year. -EPS: -$0.26 in Q3 vs. -$1.19 in the same period last year. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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c34e28bf-a93e-4523-a406-2b9fe0a946a5
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1114.0
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2020-10-14 00:00:00 UTC
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After-Hours Earnings Report for October 14, 2020 : UAL, AA, SNBR, HCCI
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AA
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https://www.nasdaq.com/articles/after-hours-earnings-report-for-october-14-2020-%3A-ual-aa-snbr-hcci-2020-10-14
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The following companies are expected to report earnings after hours on 10/14/2020. Visit our Earnings Calendar for a full list of expected earnings releases.
United Airlines Holdings, Inc. (UAL) is reporting for the quarter ending September 30, 2020. The airline company's consensus earnings per share forecast from the 16 analysts that follow the stock is $-7.63. This value represents a 287.47% decrease compared to the same quarter last year. UAL missed the consensus earnings per share in the 2nd calendar quarter of 2020 by -1.97%. Zacks Investment Research reports that the 2020 Price to Earnings ratio for UAL is -1.40 vs. an industry ratio of 11.90.
Alcoa Corporation (AA) is reporting for the quarter ending September 30, 2020. The metal production company's consensus earnings per share forecast from the 5 analysts that follow the stock is $-1.51. This value represents a 243.18% decrease compared to the same quarter last year. Zacks Investment Research reports that the 2020 Price to Earnings ratio for AA is -8.37 vs. an industry ratio of 13.90.
Sleep Number Corporation (SNBR) is reporting for the quarter ending September 30, 2020. The furniture company's consensus earnings per share forecast from the 5 analysts that follow the stock is $1.01. This value represents a 7.45% increase compared to the same quarter last year. In the past year SNBR has beat the expectations every quarter. The highest one was in the 2nd calendar quarter where they beat the consensus by 25%. The "days to cover" for this stock exceeds 11 days. Zacks Investment Research reports that the 2020 Price to Earnings ratio for SNBR is 21.29 vs. an industry ratio of 13.20, implying that they will have a higher earnings growth than their competitors in the same industry.
Heritage-Crystal Clean, Inc. (HCCI) is reporting for the quarter ending September 30, 2020. The pollution control company's consensus earnings per share forecast from the 4 analysts that follow the stock is $-0.15. This value represents a 153.57% decrease compared to the same quarter last year. Zacks Investment Research reports that the 2020 Price to Earnings ratio for HCCI is -57.54 vs. an industry ratio of 12.70.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Alcoa Corporation (AA) is reporting for the quarter ending September 30, 2020. Zacks Investment Research reports that the 2020 Price to Earnings ratio for AA is -8.37 vs. an industry ratio of 13.90. The airline company's consensus earnings per share forecast from the 16 analysts that follow the stock is $-7.63.
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Zacks Investment Research reports that the 2020 Price to Earnings ratio for AA is -8.37 vs. an industry ratio of 13.90. Alcoa Corporation (AA) is reporting for the quarter ending September 30, 2020. Zacks Investment Research reports that the 2020 Price to Earnings ratio for UAL is -1.40 vs. an industry ratio of 11.90.
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Alcoa Corporation (AA) is reporting for the quarter ending September 30, 2020. Zacks Investment Research reports that the 2020 Price to Earnings ratio for AA is -8.37 vs. an industry ratio of 13.90. Zacks Investment Research reports that the 2020 Price to Earnings ratio for UAL is -1.40 vs. an industry ratio of 11.90.
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Alcoa Corporation (AA) is reporting for the quarter ending September 30, 2020. Zacks Investment Research reports that the 2020 Price to Earnings ratio for AA is -8.37 vs. an industry ratio of 13.90. United Airlines Holdings, Inc. (UAL) is reporting for the quarter ending September 30, 2020.
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b6d2a34d-b67f-486f-9e26-d1d522cfd06c
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1115.0
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2020-10-14 00:00:00 UTC
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Alcoa Q3 20 Earnings Conference Call At 5:00 PM ET
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AA
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https://www.nasdaq.com/articles/alcoa-q3-20-earnings-conference-call-at-5%3A00-pm-et-2020-10-14
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(RTTNews) - Alcoa Corp. (AA) will host a conference call at 5:00 PM ET on October 14, 2020, to discuss Q3 20 earnings results.
To access the live webcast, log on to http://www.alcoa.com
To listen to the call, dial +1 (877) 883-0383 (US) or +1 (412) 902-6506 (International), Conference ID: 9515797.
For a replay call, dial +1 (877) 344-7529 (Domestic) +1 (412) 317-0088 (International), Access Code: 10135408.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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(RTTNews) - Alcoa Corp. (AA) will host a conference call at 5:00 PM ET on October 14, 2020, to discuss Q3 20 earnings results. To access the live webcast, log on to http://www.alcoa.com To listen to the call, dial +1 (877) 883-0383 (US) or +1 (412) 902-6506 (International), Conference ID: 9515797. For a replay call, dial +1 (877) 344-7529 (Domestic) +1 (412) 317-0088 (International), Access Code: 10135408.
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(RTTNews) - Alcoa Corp. (AA) will host a conference call at 5:00 PM ET on October 14, 2020, to discuss Q3 20 earnings results. To access the live webcast, log on to http://www.alcoa.com To listen to the call, dial +1 (877) 883-0383 (US) or +1 (412) 902-6506 (International), Conference ID: 9515797. For a replay call, dial +1 (877) 344-7529 (Domestic) +1 (412) 317-0088 (International), Access Code: 10135408.
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(RTTNews) - Alcoa Corp. (AA) will host a conference call at 5:00 PM ET on October 14, 2020, to discuss Q3 20 earnings results. To access the live webcast, log on to http://www.alcoa.com To listen to the call, dial +1 (877) 883-0383 (US) or +1 (412) 902-6506 (International), Conference ID: 9515797. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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(RTTNews) - Alcoa Corp. (AA) will host a conference call at 5:00 PM ET on October 14, 2020, to discuss Q3 20 earnings results. To access the live webcast, log on to http://www.alcoa.com To listen to the call, dial +1 (877) 883-0383 (US) or +1 (412) 902-6506 (International), Conference ID: 9515797. For a replay call, dial +1 (877) 344-7529 (Domestic) +1 (412) 317-0088 (International), Access Code: 10135408.
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ea3e9fb8-20af-4e65-acd5-56c98e72f7e3
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1116.0
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2020-10-14 00:00:00 UTC
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Alcoa Corporation (AA) Q3 2020 Earnings Call Transcript
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AA
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https://www.nasdaq.com/articles/alcoa-corporation-aa-q3-2020-earnings-call-transcript-2020-10-15
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Image source: The Motley Fool.
Alcoa Corporation (NYSE: AA)
Q3 2020 Earnings Call
Oct 14, 2020, 5:00 p.m. ET
Contents:
Prepared Remarks
Questions and Answers
Call Participants
Prepared Remarks:
Operator
Good afternoon and welcome to the Alcoa Corporation Third Quarter 2020 Earnings Presentation and Conference Call. [Operator Instructions] Please note this event is being recorded.
I would now like to turn the conference over to James Dwyer, Vice President of Investor Relations. Please go ahead.
James Dwyer -- Vice President of Investor Relations
Thank you, and good day, everyone. I'm joined today by Roy Harvey, Alcoa Corporation President and Chief Executive Officer, and William Oplinger, Executive Vice President and Chief Financial Officer. We will take your questions after comments by Roy and Bill.
As a reminder, today's discussion will contain forward-looking statements relating to future events and expectations that are subject to various assumptions and caveats. Factors that may cause the company's actual results to differ materially from these statements are included in today's presentation and in our SEC filings.
In addition, we have included some non-GAAP financial measures in this presentation. Reconciliations to the most directly comparable GAAP financial measures can be found in the appendix to today's presentation. Any reference in our discussion today to EBITDA means adjusted EBITDA. Finally, as previously announced, the earnings release and slide presentation are available on our website.
With that, here's Roy.
Roy C. Harvey -- President and Chief Executive Officer
Thank you, Jim. And thanks to everyone for joining our call today. Despite what had been turbulent and unpredictable circumstances this quarter, I am proud to report that Alcoa's performance has been strong. A few examples of this quarter's accomplishments include increasing sales revenue underpinned by improving prices and solid production, successful efforts to reduce our cost structure and continued progress on a comprehensive set of measures that are improving our company for the long term.
Let me begin my discussion with our most important initiative-safety. I'm happy to report that we had no serious injuries in the quarter. The priority we've placed on safety, which include the systems-based approach to risk mitigation is fundamental. The careful attention to details into potential risks including clear mandates to seek help when necessary has worked to keep people safe during these uncertain times. Importantly, getting safety right allows us to perform well in other aspects of our business.
While we continue to follow health-based protocols to mitigate the risks from the pandemic, our teams are also staying focused on the everyday items that can create unsafe conditions. We recognize that the pandemic can create distractions. So we are consistently communicating the importance of being laser-focused on the tasks at hand and completing pre-job briefings, as an example, to ensure we have adequate safety controls in place before ever beginning work. As far as the risks posed by the pandemic, we've had a relatively low number of cases across our company since the pandemic began. And most, who were diagnosed, have now fully recovered and returned to work.
Meanwhile, we are not becoming overconfident. As some countries experience a rise in cases, our global and regional crisis response teams remain active. Our locations are continuing to refine and update their preparedness and response plans to ensure that they are a fit for purpose as local or regional conditions change. Put simply, the safety and well-being of our global teams remain our top priority.
As we move through our presentation today, you'll see that we continue to make progress on multiple fronts. We're doing what we said we would do to improve our company. Our strategic priorities have helped strengthen us so we can succeed through all market cycles, including in these uncertain and unexpected times. We entered this current period from a position of relative strength as we had a clear plan of action. And we are already implementing steps to improve Alcoa for the long term.
Turning to our results, we reported EBITDA of $284 million, which was a 54% sequential improvement and we also increased our cash balance to more than $1.7 billion at the end of the third quarter. As most will recall, we completed a bond issuance in July. The proceeds increase our flexibility to meet short term challenges, while we continue to hold to our capital allocation framework. Our new operating model, which took effect late last year is driving down costs and increasing efficiency and output. Again, this quarter, we set production records in the Bauxite and Alumina segment and our commercial arm is driving a productive view of our supply chains, working capital management and customer relationship. This operating model change has already proven its resiliency and effectiveness.
Also, we are seeing improvements in our markets, which are recovering from the lows in the second quarter. We saw an 11% sequential increase in volume of value-add products within our Aluminum business. In the third quarter, we also fully completed the restart of the ABI smelter in Becancour. Separately, in August, we finished the full curtailment of our Intalco smelter which faced significant cost challenges. I want to thank the employees there for completing safe and orderly curtailment. We've now placed the smelter in care and maintenance mode, while we consider future opportunities for the site.
Next, we announced last month, a new addition to our Sustana brand, which is the most comprehensive suite of sustainable products in the aluminum industry. EcoSource is the world's first low-carbon alumina brand, leveraging our leadership as the world's largest third-party supplier of smelter-grade alumina and with the lowest average carbon footprint in the industry.
I do want to note an action that we announced just last week. On October 8, we made a decision to curtail the San Ciprian smelter. We made this decision within a 15-day period per Spanish regulations to consider our next steps after completing four months of consultations with the workers representatives. The smelter has sustained significant and ongoing financial losses. We understand the significance of the decision on our employees and the community, and we are offering severance and outplacement services for the affected employees. A portion of our casthouse will continue to cast metal. Separately, our refinery continues to operate.
Now, let's discuss our markets and the trends we're observing. When it comes to the observed rebound in global aluminum demand, China is leading the way. Though the restart of the Chinese economy from COVID has been faster than other region, we are seeing improvements across the globe. First, starting from the bottom of the chart on the left. In China, industrial production, as well as the key aluminum end markets in building and construction and transportation were all above 2019 levels as early as the second quarter. We saw continued strength in the third quarter with those three indicators, up 7% when compared with the same quarter last year.
In Europe and North America, which are key regions for Alcoa's aluminum customers, we see solid quarterly improvements across those sectors. While not as strong as China, demand is returning. A gradual recovery is likely in these end markets in North America and Europe, with specific improvement expected in the fourth quarter in the transportation sector, where on a year-over-year basis, light vehicle production in North America is expected to be up 3% and up 6% in the European Union, according to automotive analysts.
The building and construction market didn't suffer a demand shock as severe as the transportation sector. But commercial construction, where more aluminum is used, is likely to be slower to recover due to reduced pool for office space.
Moving now to the right hand of the slide. Recovery in the end markets translated into further improvements in global primary aluminum demand in the third quarter, which has increased quarter-on-quarter over the course of the year. In the third quarter, worldwide demand for primary aluminum was off just 4% from the same period in 2019. This has improved from the first half where there was an 11% drop in demand from the same six-month period in 2019. Two other areas indicate an improvement in aluminum demand-inventories in Chinese imports of unwrought aluminum. On inventories, we estimate that global aluminum stock growth has slowed in the second and third quarters relative to the first quarter.
In China, net imports of unwrought aluminum have increased steadily over the last two quarters, showing an unusual reversal of typical trade flows. Imports of unwrought, unalloyed and alloyed metal in July and August alone totaled over 700,000 tons, up from nearly 400,000 tons in the second quarter. It is likely that these flows are comprised of a mix of both primary and secondary metal as China seeks more aluminum due to a domestic scrap shortage, a result of the limits that is placed on imports of low-grade scrap. At the same time, this trend is indicative of primary aluminum demand and prices in China having increased enough to make it profitable for China to import metal. While this trend may be temporary, it is another sign of the strength of the recovery in China.
Of course, much can still happen with COVID-19 and its impacts on the global economy. Nonetheless, the third quarter provides some cautious optimism for global aluminum demand.
Now, let's discuss performance in our three segments, starting with operations. We're proud of the dedicated work of our teams to keep all of Alcoa's global assets operating without interruption during the global health crisis. We remain vigilant in protecting our people and using all appropriate health-related measures. We saw consistent production improvement in the third quarter, continuing the positive momentum from the prior period. We once again saw increases in daily average production across our three segments. The productivity program we implemented in the first quarter of the year is providing sustainable, cost-saving improvements for the tons we produce.
In Bauxite, we are mining at a record pace. Through the third quarter, Alcoa's operated mines set a year-to-date production record led by two of our mines in Western Australia. For Alumina, we also broke a record we set in the segment last quarter for metric tons per day production. Finally, in our Aluminum segment, improved operational stability is helping to drive increased output. As noted earlier, this takes into account that the ABI smelter in Quebec is now fully restarted, a task completed in the third quarter.
Now, an update on our commercial activities. In Bauxite, we expect steady volume and pricing for the year. In Alumina, we have realized the benefits from a tighter-than-expected market, driven by the improved supply demand balances in Aluminum that we discussed. Also, some supply disruptions from other producers resulted in the further tightening in the market during the third quarter. Finally, in Aluminum, as we've noted, we saw an overall increase in orders for value-add products. As we mentioned, in both the second and third quarters, sales of value-add products were negatively impacted by COVID, with the second quarter as the low point. In the third quarter, we saw an 11% sequential improvement, although it's still lower than the same period in 2019.
While our customers continue to be cautious, we see signs of green shoots although Q4 demand is still expected to remain below 2019 levels.
Now, I'll turn it over to Bill to discuss, more fully, this quarter's results.
William F. Oplinger -- Executive Vice President and Chief Financial Officer
Thanks, Roy. We achieved significant improvements in the third quarter. Third quarter 2020 revenue was up $217 million sequentially on higher Alumina and Aluminum prices. The net loss attributable to Alcoa Corporation was $49 million or $0.26 per share, an improvement of $148 million or $0.80 per share. The adjusted net loss was $218 million or $1.17 per share. The most significant driver was a tax provision of $229 million, primarily interim tax impacts due to the improving view of full-year profitability and the resulting prior periods catch-up in the third quarter. Adjusted EBITDA, excluding special items, was $284 million, up $99 million sequentially and generating an EBITDA margin of 12%.
Let's look closer at factors driving adjusted EBITDA. Adjusted EBITDA, excluding special items, increased $99 million in the third quarter with $174 million higher earnings in the segments, partially offset by a reversal of inter-segment eliminations, $65 million sequentially due to higher Aluminum prices. Overall, favorable market price impacts totaled $89 million were higher metal and Alumina prices were partially offset by a weaker U.S. dollar. All other factors combined were positive $10 million. Higher natural gas costs in the Alumina segment were partially offset by lower smelter energy costs primarily in Norway.
Price/mix, volume and production costs were bright spots this quarter, a testament to the benefits of our new operating model for operations and commercial activities. Price/mix improved $18 million due to additional value-add sales in the Aluminum segment and the mix of shipments and better non-metallurgical Alumina contracts pricing in the Alumina segment. Volume improved $15 million with two-thirds of the benefit coming from higher Alumina shipments and one-third coming from capturing sales in an improving Aluminum market.
The largest performance improvement factor was production costs, which were $32 million lower in the third quarter. The Alumina segment saw improved Bauxite quality and usage, as well as lower cost of usage. The Aluminum segment experienced seasonally lower labor costs and the Bauxite segment saw lower production costs at our operated mines. Other impacts were negative $30 million sequentially and included $12 million related to Section 232 tariffs and $9 million from inventory impacts in the intersegment eliminations.
Moving to cash. Third quarter liquidity was exceptional with over $1.7 billion of cash on the balance sheet. Our year-over-year cash balance increased $895 million, and sequentially our cash balance increased $771 million. We issued $750 million of debt in early July with net proceeds of $736 million. Not counting the debt issue, our year-over-year cash balance increased $159 million and sequential improvement was $35 million. Through the first three quarters of 2020, sources of cash totaled $1.9 billion and uses of cash totaled $1 billion. Even removing the debt proceeds of $736 million, year-to-date, sources of cash have outpaced uses by $121 million, a reflection of solid operating performance and our successful $900 million cash actions program.
Now, let's take a look at other financial metrics. Year-to-date, 2020 free cash flow, less non-controlling interest distributions, improved $46 million in the quarter to negative $14 million, partially the result of lower working capital. Days working capital improved to 2 days sequentially to 22 days, driven by a decline in inventories and days on hand. Our key balance sheet metric-proportional adjusted net debt remained at $3.3 billion. Year-to-date our pension asset returns have been approximately 3.4% and discount rates are down roughly 30 to 35 basis points since the plans for last remeasure. Due to a variety of actions taken this year, approximately 50% of our pension OPEB liability has been remeasured on an interim basis. If asset returns are target for the fourth quarter and discount rates and all other factors do not change, we would expect the pension and OPEB net liability to increase approximately $200 million from the current $2.4 billion to $2.6 billion.
Turning to our $900 million cash actions program. We continue to drive all aspects of our cash program. Targets remain on track. We continue to see the benefits of the new operating model, both in terms of lower spending and improved focus on leaner working capital and lower production costs and our non-core asset sales and portfolio review timelines remain in place. Our COVID response spending controls are also on track, although, we expect to defer slightly less pension funding than originally planned.
We are making a few adjustments to our full-year 2020 Outlook. We are increasing the range for 2020 Alumina shipments by 200,000 tons to a range of 13.8 million tons to 13.9 million tons based on better production and shipping performance. In EBITDA impacts outside the segments, we are improving $15 million, driven by reduced transformation costs. On earnings, below the EBITDA line, we expect depreciation expense to improve $10 million to $655 million.
We are not providing an outlook for the full-year operational tax rate; however, based on recent prices, we expect operational tax expense in the fourth quarter to be approximately $25 million. For full-year 2020 cash flow impacts, we are adjusting our minimum required pension and OPEB funding up $10 million to reflect modest funding we made to lower expected pension costs. We are reducing environmental and ARO funding by $10 million to $115 million, a result of spending controls and COVID-19 actions.
Our 2020 year-to-date cash taxes include a $74 million payment to the Australian Tax Office to begin the disputed resolution process for its previously disclosed notice of assessment. In September, the ATO issued a position paper on its preliminary review of administrative penalties related to that assessment and proposes penalties of approximately $93 million, a 100% Alcoa of Australia share. The company does not agree with the ATO's position and AofA will continue to defend this matter and pursue all available dispute resolution methods up to and including the filing of proceedings in the Australian courts. We expect no further cash impacts for this matter, until it is ultimately resolved.
In the appendix, we also list additional considerations expected for the fourth quarter. They include, in the Bauxite segment, adjusted EBITDA is expected to be flat compared to the third quarter. In the Alumina segment, we are expecting higher energy costs and the mix of customer shipments to result in $10 million lower sequential EBITDA impact. In the Aluminum segment, Alumina costs are estimated to be approximately the same as in the third quarter. Aside from potential metal price or currency impacts, all other factors are expected to decline $50 million sequentially, including anticipated higher power costs in Europe, a full quarter of Section 232 tariffs and higher maintenance and seasonal labor costs, partially offset by the positive impact of the Intalco curtailment for the full quarter.
With that, let me turn it back to Roy.
Roy C. Harvey -- President and Chief Executive Officer
Thanks, Bill. Next, I want to spend a few minutes discussing our sustainable product portfolio. In line with our strategic priority to advance sustainably, last month, we launched EcoSource, another product in our Sustana line to help our customers reach their sustainability goals. EcoSource is the world's first low-carbon alumina brand. It offers no more than 0.6 metric tons of carbon dioxide equivalents per metric ton of alumina, which is half the global alumina industries' average carbon content. And our measurement includes direct and indirect emissions from mining and refining. EcoSource leverages our leadership as the world's largest third-party provider of smelter-grade alumina. And as we've noted, our refining assets have the lowest average carbon footprint in the industry. This product supports decarbonizing aluminum, while expanding our Sustana line to the broader aluminum value chain.
Considering the increased call from consumers and producers of sustainably sourced and low-carbon alternatives, EcoSource provides a unique opportunity for aluminum producers to lower their carbon footprint. Our Sustana family of brands is the most comprehensive in the aluminum industry, which also includes aluminum with guaranteed low emissions and metal with at least 50% recycled content. It's important to note here too that we take a more advanced view on how to define green, one that considers impacts across the production chain.
EcoLum, our low-carbon aluminum is a great example. It guarantees, no more than 4.0 metric tons of carbon dioxide equivalents per ton of aluminum produced, from bauxite mining to cast product. This includes Scope 1 and Scope 2 emissions from all production steps. While the market for low-carbon aluminum is continuing to develop, we are seeing more and more interest in this space. And with our comprehensive line of products, we are leading the way for the industry. Also consumers and our customers are demanding products that include assurances of responsible production. With our sustainable practices in bauxite mining, alumina refining, and aluminum smelting and casting, we are uniquely positioned to deliver sustainable products across the value chain.
Alcoa has operations in all three of our segments certified to standards set by the Aluminum Stewardship Initiative or ASI. It is the only comprehensive third-party validation of sustainable practices looking at the entire value chain that involves producers, users and NGOs. We also have ASI's Chain of Custody certification, earning us the right to market ASI-certified products across our value chain. We have 11 locations already certified and more are currently in the pipeline.
Next, I wanted to quickly recap how our strategies and actions are driving a stronger and more agile company. It was one year ago that we first announced key strategic actions that included a new operating model, a plan to generate additional cash from the sale of non-core assets and a review of our production portfolio. We've made significant progress. Our new operating model is now fully implemented and is on pace to deliver $60 million in annual savings. This early action was vital to help us weather the economic downturn, brought on by the pandemic.
We've also made headway on our multi-year portfolio review that includes options to improve, curtail, close or divest assets. In February, before COVID-19 became a global pandemic, we launched plans to drive leaner working capital and implement annual productivity gains, and we're projecting we'll finish the year within the total range of projected year-over-year improvement from these two programs. And finally, we continue to manage cash to mitigate the economic impacts associated with COVID-19 and the collaboration across Alcoa to generate and implement cost savings ideas is remarkable. As Bill noted, all of these initiatives are on track to total $900 million in cash actions in 2020.
Our pursuit of continued improvements is part of what it means to be an Alcoan. Across our company, we've been on a steady and consistent path in tackling challenging projects to strengthen Alcoa. You'll see just a few of these listed at the bottom of the slide-items that align with our overall strategic priorities. Most importantly, we've strengthened our safety program and have seen real improvements in our leading and lagging safety indicators across the organization. We've also strengthened our balance sheet through numerous actions, including renegotiating our credit facility, annuitizing pensions and reducing OPEB liabilities. Our teams continue to break production records and we're operating more efficiently with new, modern labor agreements in the United States, Canada and Australia.
And as mentioned before, we are leveraging our strong reputation in sustainability, including continued progress on our ELYSIS joint venture, which produces carbon-free aluminum. The work to drive this technology to commercial scale is progressing. As you can see from the prior slide, we have tackled difficult challenges, but we still have much to do to strengthen and prepare Alcoa for a brighter future.
And I'd like to reinforce what is consistently guiding us as a company. First and foremost, it's our three Alcoa values: act with integrity; operate with excellence; and care for people. These are fundamental to our decision-making and central to our company. Those three values underpin our strategic priorities, which provide a roadmap for the future and ensure alignment across our operations and resources. We reduce complexity, so we can be low-cost. We drive returns with a focus on improved margins across our products. And we are advancing sustainably to improve economic, environmental and social outcomes, and ultimately, provide value for our stockholders in the long term.
And with that, Bill and I would welcome your questions.
Questions and Answers:
Operator
[Operator Instructions] And our first question today will come from Chris Terry with Deutsche Bank. Please go ahead.
Chris Terry -- Deutsche Bank -- Analyst
Hi, Roy and Bill. Yeah, a couple of questions from me. Just wanted to get an update on some of your bigger picture targets, the divestment target of $500 million to $1 billion, I think, over 18 months. I think we're about 12 months since that was announced. Just wondering whether that's still a relevant target and how you're looking at that. And then in terms of the assets -- asset reviews, are we right in thinking that Portland, after San Ciprian, would be the next asset sort of in the spotlight as such? Thanks.
William F. Oplinger -- Executive Vice President and Chief Financial Officer
I'll take the first part of that one, Chris, and thanks for the question. As far as the asset sales go, you're right. We announced in October of last year that we would take 12 to 18 months to execute on asset sales of between $500 million to a $1 billion of net proceeds. We sold Gum Springs at the beginning of this year, which netted us an immediate $200 million, with a $50 million contingent payment that will come over time. And since that time, we've been running forward with some processes to look at further divestitures and we haven't said which assets those are, but we are holding to that target that by the end of the first quarter of next year, we would be generating $500 million to $1 billion of net proceeds.
The only asset that we have said that is up for sale is the Rockdale land and we continue to pursue that transaction. So yes, we're sticking with that target. Roy, do you want to address the asset reviews?
Roy C. Harvey -- President and Chief Executive Officer
Yeah, absolutely. And, Chris, thanks for the question. We have not said specifically what sits inside of those asset reviews. So -- and that's very specifically for the purpose that we continue to work on a number of tracks at the same time. And I'd remind you that, that program really has options that include trying to repower the facilities, trying to find new ways to do what we might have been doing for a number of years in each of these different locations. And at the end, we also have the opportunity to curtail or to divest etc.
So, as to what comes next, I think as you referred to Portland, we've not said whether that's on the list or not. We are in the midst of discussions with the Australian government to repower the facility and we'll then be making decisions as we move forward on that. But I would just reassure you that we are hard at work looking at how we can really drive our portfolio, and particularly in the Aluminum segment, to a certain extent, also the Alumina portfolio, how we make sure that they are both very low cost and also very green and very low-carbon. So you'll hear more as we go along, Chris.
Chris Terry -- Deutsche Bank -- Analyst
Okay, thank you. And I just had two very quick questions, hopefully, just checking on the pension. So I think for 2021, originally it was going to be $380 million as of the start of this year. You're saying you used the prepayment for $200 mill so that be implying a $180 million from a cash sense, I think, if I'm correct on that. Just wanted to check. And then the other one, very small, but on Slide 32, you talk about the Aluminum segment with production down about 10%. I think it's in quarter 4Q, the Alumina costs to be flat sequentially, that's $1 per ton. Right? I just wanted to check that.
Roy C. Harvey -- President and Chief Executive Officer
Let me address the pension one and then, Chris, I'll probably ask you to clarify the second one. We have been projecting cash outflows with pension and OPEB of $380 million in 2021. You know that we deferred $200 million of pension contributions in 2020. Those would come due in 2021. So the sum of the $380 million and the $200 million would equal to $580 million of cash outflows associated with pension and OPEB. However, we have a pre-funding balance set up in the U.S. pension plan, that is also just corresponds to approximately $380 million. So depending on what cash flow looks like in 2021, we can choose to use that pre-funding balance to offset those large cash contributions that are required in 2021. So if we chose to use all of the pre-funding balance, we would be back to approximately $200 million of pension and OPEB cash outflow in 2021. So I think that's clear. If I could ask you to clarify your Aluminum segment question? Or did we lose Chris?
Chris Terry -- Deutsche Bank -- Analyst
Sorry, no. Sorry, it's this Slide 32 where it says flat just on Alumina costs. So just checking whether that's $1 per ton or $1 per million [Phonetic].
Roy C. Harvey -- President and Chief Executive Officer
It's 1$per million and so what we're essentially signaling there is that aside from prices and forex, the Aluminum segment will have flat Alumina costs in total. And then on top of that, we're signaling that Aluminum would be down about $50 million sequentially. Before I get the question, just to mention that $50 million, I figured, I would address it. A piece of that is energy costs, so higher energy costs in Europe. We had very good energy costs in Spain and Norway in the third quarter. We don't know if those will repeat going into the fourth quarter as economies recover.
But we do have some higher operational costs, approximately $25 million. We have a couple of outages in our rolling mill that are planned for the fourth quarter, so nothing surprising there. We do have some higher labor and maintenance costs also, and then included in that number is the assumption that the tariffs coming in from Canada would continue to be paid. We are accruing for the tariffs in the fourth quarter, just as we accrued for the tariffs in the third quarter because we're not certain whether the exemption will be in place or not. So we're still considering the Presidential Decree that has come out and -- but at this point, we're assuming that we will be accruing to those tariffs coming in from Canada. Hope that helps.
Chris Terry -- Deutsche Bank -- Analyst
Yeah, thanks, guys. That's it from me.
Roy C. Harvey -- President and Chief Executive Officer
Thanks, Chris.
Operator
And our next question will come from Carlos De Alba with Morgan Stanley. Please go ahead.
Carlos de Alba -- Morgan Stanley -- Analyst
Good afternoon, Roy and Bill. Thank you very much. So the first question, it has to do, just staying, that is exhibit Slide 32. On the Alumina, can you provide a bit more details in terms of the comment relating the mix of customer shipments that will -- together with higher energy cost -- sorry, together with the lower -- yeah, higher energy costs that is going to reduce your EBITDA, what -- could you provide some more details? And if this is something that you just expect to see at the end of the quarter maybe because you need to complete some contracts or is this something that may be extending toward 2021?
William F. Oplinger -- Executive Vice President and Chief Financial Officer
So, Carlos, there's two components to that. The larger component is the higher energy costs. Energy costs are assumed to be going up in Brazil, for instance, for fuel oil at our Alumar facility based on just this higher oil costs overall in the fourth quarter. And the mix of customer shipments is really a comment around the timing of shipments at the end of the quarter. So nothing that is projecting out into 2021.
Carlos de Alba -- Morgan Stanley -- Analyst
All right, thanks for that, Bill. And just last question is with the curtailment in San Ciprian, what should we assume in terms of the alumina production and shipments there, as well as what sort of level of production do you expect to see from the casthouse?
William F. Oplinger -- Executive Vice President and Chief Financial Officer
So, currently -- and I'll let directly address your question and maybe Roy wants to add on some more commentary. But we're assuming that the casthouse continues to operate. And as far as timing of the smelter curtailment, we're expecting that to be completed by the end of the first quarter of 2021. We are assuming that the refinery will continue to operate. And so that's how we see the site, that the refinery is unimpacted by this situation in the smelter and that the casthouse would also continue to operate.
Roy C. Harvey -- President and Chief Executive Officer
Yeah. And I'll just chime in there as well, Carlos. And I think Bill covered the quantified assumptions that we're making at this point. I just wanted to bring into focus the fact that it was a process that spanned over a number of weeks. We've thought long and hard and worked with our Works Council, worked with the government, etc., to trying to find a solution for the issues, the long-term underlying pricing issues on energy that we've seen and we announced this just recently. So as you've seen, there has been a move to potentially have a strike, that has not been defined yet and we still don't know what impact that will have. But as Bill said, the expectation is post-curtailment, we will have the output coming from the casthouse and then expect no impact and certainly no long-term impact from the refinery.
Carlos de Alba -- Morgan Stanley -- Analyst
All right, thank you very much. All the best.
Roy C. Harvey -- President and Chief Executive Officer
Thank you, Carlos.
William F. Oplinger -- Executive Vice President and Chief Financial Officer
Thanks, Carlos.
Operator
And our next question will come from Timna Tanners with Bank of America Securities. Please go ahead.
Timna Tanners -- Bank of America Securities -- Analyst
Hey, good afternoon, guys.
Roy C. Harvey -- President and Chief Executive Officer
Hey, Timna.
William F. Oplinger -- Executive Vice President and Chief Financial Officer
Hey, Timna.
Timna Tanners -- Bank of America Securities -- Analyst
Hey, there. So I wanted to just ask the obvious here and I apologize for that, but just kind of going back to Slide 11. Clearly the debt issuance is now on the books, been there for a couple of months, you've also said really clearly that paying down the pension, annuitizing [Phonetic] underfunded pension and healthcare is a top priority. Is there a timeframe or mechanism or anything that you can signal to us just to help us think about what that would look like?
William F. Oplinger -- Executive Vice President and Chief Financial Officer
Yes, let me address that one, Timna. Currently as the slide shows, we have a very good strong cash balance. We went out and raised debt at the beginning of the quarter as -- which seems like ages ago at this point. And there was a number of reasons for why we were raising debt. First and foremost, we ended up being able to raise debt at the cheapest coupon out of any of the debt issuances that we have. So it gives us the flexibility that if we want, we can pay off some of the other debt tranches, so, for instance, the 2020 cores. We will also consider using that to fund the pension. But I would tell you, at this point, over the next, let's say, three to six months, we'll be making the decision on what we do with those proceeds, assuming that we continue to see cash come in like we saw in the third quarter.
So we have a capital allocation model. You know that our capital allocation model starts with keeping $1 billion of cash on the balance sheet. We were able to -- excluding the proceeds of the debt issuance, we were able to regain that level to a $1 billion of cash on the balance sheet. We've got four uses of cash in that capital allocation model, which we have said, at various times, we will use the cash for those four things. The first one being debt repayment, the second one being mid-sized growth projects, the third being -- just losing my train of thought, but essentially, we'll be making a decision on how to use that cash over the next six months. And I should have said that the third is a return to shareholders, which is clearly important to us.
Timna Tanners -- Bank of America Securities -- Analyst
Okay. One of the concerns that we hear repeatedly from investors is just that they'd like to feel comfortable that this balance here that you point out the [Indecipherable] and uses would be in a positive arena fully -- without things like debt issuances and proceeds from asset sales. So just -- I think it'd be helpful to understand some of these recurring restructurings are a function of kind of reducing your footprint and turning back some of the less profitable or loss-making businesses. But how do you see Alcoa over the next several years kind of getting to a place where you do have a better balance ex the proceeds from asset sales and debt issuance? Like on a normalized basis, how do we get to that place where it's more balanced?
William F. Oplinger -- Executive Vice President and Chief Financial Officer
Well, I'll address that quantitatively and I'll let Roy address it further. You clearly see us taking action today to rectify some of the underperforming assets that we have. So, we have said that we will put under review 4 million metric tons of refining capacity, 1.5 million metric tons of smelting capacity. We immediately took action on shutting down Point Comfort. And so we took that action. We have taken action at Intalco to curtail a loss-making facility at Intalco. Recall that Intalco lost $25 million in the first quarter of this year, so a loss-making facility that we've tried to curtail. We have said that San Ciprian smelter is structurally disadvantaged. And we've made the decision to collectively dismiss the employees at San Ciprian, so taking action there.
When we get through this portfolio review, we see us as being -- and I would point you to the back of the deck where we're first quartile bauxite, first quartile refining, second quartile smelting, once we get through this portfolio review, we think that all three sets of the assets can be first quartile. But on top of that, as Roy said, we will be the lowest carbon emitter among all the major players. So we will have taken our smelting assets, which are second quartile, moved them to right at the breakeven in the first and second quartile smelting cost curve, and significantly lower their carbon footprint. So I think the near-term view is that our portfolio will be in a much better position once that review is done.
Roy C. Harvey -- President and Chief Executive Officer
Yeah. And I'll just reiterate Bill's comments. I think he said it -- he said it spot on. But Timna, I think it's a valid question that you raised. And I just want -- I really just want to reinforce the statement that we've spent a good amount of time as a management team thinking through not only how the market looks today and how our portfolio interacts with that market, but also have looked out a number of years and it's really the process that -- I mean, it's been ongoing for the last four years. But last year we spent a bunch of time thinking about what can we do and where do we go. And that really culminated in the announcement about the divestitures to generate cash, about how we're going to drive operations and commercial through the new operating model and then the portfolio review.
And so these actions will take a little bit of time and each one has its own schedule. They require a great amount of challenging decisions in dealing with situations. But at the same time, it's going to leave us in a significantly improved spot. And I won't go into everything that Bill said again, but in the end, it will make us a very low cost, it will make us very, very green from a carbon standpoint, but also, I believe, with a great reputation for doing the right thing, all the way from Bauxite down to Aluminum. And I think it's really an opportunity for us to make a big difference, but will take up some work in the meantime.
Timna Tanners -- Bank of America Securities -- Analyst
Okay, that's helpful. Thanks, guys.
Roy C. Harvey -- President and Chief Executive Officer
Thanks, Timna.
Operator
And our next question will come from Lucas Pipes with B. Riley Securities. Please go ahead.
Lucas Pipes -- B. Riley FBR -- Analyst
Thank you and good afternoon, everyone. Roy, I wanted to pick up on a comment you just made there in regards to looking out a few years and looking at what this industry is going to look like. Can you elaborate on that a little bit? What's your vision of this industry two, three years down the road? Thank you.
Roy C. Harvey -- President and Chief Executive Officer
Yeah, Lucas. And that's a fun question. So when you look out, I always start with what do the demand fundamentals look like? And we've had the great blessing that aluminum demand has been strong over these last couple of decades. And so as we look forward, and you look at this in China, as well as everywhere outside of China because of how much China has impacted the market, we continue to see a metal that is in high demand and we'll continue to see demand growth. And so from a pure market perspective, there's a lot of opportunities in aluminum and then in the knock-on impacts into alumina and down into bauxite. At the same time, we also see that our customers and the consumers that lay at the other end of those customers are going to have significantly higher expectations and understanding of what is contained and goes into those products themselves.
So not only are we seeing good demand growth because of the electric vehicles in automotive or aluminum cans or all of the electrical infrastructure, not only are we seeing that good demand, but I believe there would be more and more of a shift to having -- to understanding the carbon impact in the -- in just the entire content of all those things around communities and social programs and how everything combines into a final product. And so as we look at that, and as I spend time examining what's happening in today's market and the acceleration we're seeing toward what can be a pretty exciting future, I think aluminum, and particularly a company like Alcoa can have a great future inside of that market. Now, it means we need to drive, so that we have the portfolio that we need to win, both from a cost perspective, but also from a carbon content and social responsibility and environmental awareness standpoint. But at the same time, I think it bodes well because we have the opportunity to make changes in our portfolio, in our cost structures today that sets us up for this very quickly approaching pretty great opportunity we have in the future.
Lucas Pipes -- B. Riley FBR -- Analyst
That's very helpful. I really appreciate the additional color on this. And then my second question is more in the here and now, kind of looking at my numbers, it looked like metal prices were much higher than what would have been kind of implied back of the envelope. And I wondered, was there anything unique going on with the mix Q3 versus Q2. And then as we look into Q4, anything that could reverse, meaning you wouldn't capture the additional improvements on the pricing side? Thank you.
William F. Oplinger -- Executive Vice President and Chief Financial Officer
Yeah. I'll address that one. Thanks, Lucas, for the question. The one thing that we saw in the third quarter, above and beyond the second quarter, is a rebound in demand for value-added products. We saw volumes of value-added products increase by 11%. We have also saw premiums increase in the third quarter for spot business. And that drove the realizations for metal higher. As we look into the fourth quarter, we're being cautiously optimistic. The underlying market trends are still favorable, but we're waiting to see how spot orders come in the fourth quarter, but feeling generally optimistic about our end markets currently.
Lucas Pipes -- B. Riley FBR -- Analyst
Got it. That's helpful. So there shouldn't be any additional considerations on the revenue side kind of a la Slide 32, what you already discussed on the cost side.
William F. Oplinger -- Executive Vice President and Chief Financial Officer
No, Slide 32 is inclusive of all the -- all of the things we see when we look at current view of the fourth quarter around value-added products as currently it is level with what we saw in the third quarter, but again we're being a little bit, I think, cautiously optimistic that we could see some business increase in the fourth quarter via spot sales. But at this point, they have not yet materialized. But, certainly no deterioration from what we saw in the third quarter.
Lucas Pipes -- B. Riley FBR -- Analyst
Very helpful. I appreciate that and continued best of luck. Thank you.
Roy C. Harvey -- President and Chief Executive Officer
Thanks, Lucas.
Operator
And our next question will come from Alex Hacking with Citi. Please go ahead.
Alex Hacking -- Citi -- Analyst
Yeah. Thanks, Roy and Bill. My first question is again on Slide 32. The $50 million of additional kind of headwinds on the Aluminum segment, how much of that is the accrual for the Section 232 tariffs? And how do you -- kind of like from an accounting perspective, how do you unwind that if there is no Section 232 tariff, which there isn't right now, I guess?
William F. Oplinger -- Executive Vice President and Chief Financial Officer
Right. Those are great questions, so I appreciate you asking. Let me give you a little bit broader landscape of the tariff situation. In the third quarter, we accrued for $7 million of tariffs. In the fourth quarter, in the number that you see and that $50 million, we're projecting an incremental $12 million in tariffs expense, which means that in the quarter, we'll have about $18 million -- $18 million, $19 million of tariffs expense.
Your question around the accounting, we will know, on a six-week lag, whether the tariffs are retroactive. After that six-week lag, when we find out whether the tariffs are not retroactive, then we can book a gain associated with that month's tariff. So if you're thinking about $18 million a quarter, three months, $6 million each month, we'll make the determination based on that prior six week's tariff system on whether we book the gain associated with not having tariffs because we're accruing for the tariffs.
So I -- your next question should be, how are you going to try to estimate that in your models. I think you're going to have to watch to see how the metal flows come across the border and whether they meet the quota levels that are in place.
Alex Hacking -- Citi -- Analyst
All right, thanks, Bill. That's helpful. Okay. I was -- and thanks for the explanation, I was very confused when I first saw that on the slide.
William F. Oplinger -- Executive Vice President and Chief Financial Officer
Yeah.
Alex Hacking -- Citi -- Analyst
You made the comment about the accrual, I was like, didn't the 232 go away?
William F. Oplinger -- Executive Vice President and Chief Financial Officer
It's a very confusing situation and we have to make an accounting determination on when we accrue for it. And at this point, given the quota levels, we think it's probable, and we certainly can estimate it. So that's why we accrue for it and hopefully we're pleasantly surprised that we have a gain associated with it.
Alex Hacking -- Citi -- Analyst
Okay, thanks. And then the second question is I guess more bigger picture. On green aluminum, from the headline, sitting on the outside, it seems like the idea of green metal, responsible metal is gaining traction, particularly with consumer-type companies, Apple, and ELYSIS and Anheuser-Busch and Tesla. I mean are you seeing -- as you talk to your customers, are you seeing an inflection point and kind of interest in green and sustainable products? And just generally, how would you characterize the discussions right now? Are customers still in the fact-finding kind of stages of things, trying to figure out what they should be doing going forward or do you think they're actually ready to start buying kind of green material on the near term? Thank you very much.
Roy C. Harvey -- President and Chief Executive Officer
Yeah, Alex, and I'll take that one. I'd say that over the course of this year, really the end of last year, we've truly reached an inflection point and I think we're a bit beyond just general interest and actually starting to see a real beginning of some customers and consumers that are really looking to create deals. And so we have a number of areas that we're working on. As you know, we've just launched EcoSource, which is this new green alumina product, which is brand new. So that's something that is just under development and starting to have conversations now. But I would say that even given all the craziness that happened because of the COVID-19 pandemic, we continue to see a great amount of interest in more and more discussions that are turning into more discussions around potential contracts. I think we're seeing more and more of that.
So I'm really quite pleased at how quickly that has developed when you think about the fact that really this is becoming more and more on investors dashboards really over the course of the last 12 to 24 months. And it's pretty quickly turned into what can actually be orders and changes. I would say that the market is still developing how that should be priced. So I think that's still in front of us how to determine that. And I know there's a bunch of different potential options that are being proposed. From our standpoint, really having those discussions with the customers, explaining what Alcoa can do differently and that is dependent upon the product that you choose, I think it's the right discussions to be having and again I'd get back to the simple fact that I think Alcoa has a real opportunity and a real benefit here to our long history, and in the end, to the portfolio that we operate today and, even more importantly, will be operating down the road.
William F. Oplinger -- Executive Vice President and Chief Financial Officer
And if you don't mind -- if I jump in a little bit on that, Roy, just to highlight EcoSource. And I don't know how much time that you've said looking at EcoSource. But EcoSource is a big deal. EcoSource allows our customers to get a certified low-carbon content alumina and AWAC, our joint venture, is uniquely positioned to be able to sell low-carbon content alumina. And as somebody pointed out to me, it's very difficult to change and very expensive to change your power source for a smelter. But now with EcoSource, you can get a certified low-carbon alumina that fundamentally changes the carbon content of the aluminum a smelter makes by buying the right source of alumina. So a little bit of a salesman job there, but it's actually a pretty big deal, that for us, we offer a full suite of sustainable products in the aluminum space. And I believe we're the only ones that are offering a low-carbon content alumina source.
Alex Hacking -- Citi -- Analyst
Thanks. And so, can I just follow-up, like how much EcoSource alumina could you produce, theoretically, if everybody wanted it?
William F. Oplinger -- Executive Vice President and Chief Financial Officer
All of our refineries can produce EcoSource. The thing that you would be getting with EcoSource is that you get a certification that the alumina that you get is low-carbon emitting. So it's a certification process that you can get certified that we are -- the process in which we make alumina cuts the carbon emissions in half versus the industry average. So at this point, you can buy alumina from us or you can buy EcoSource but EcoSource is actually certified that it's low carbon.
Roy C. Harvey -- President and Chief Executive Officer
Let me just -- Alex, if I can just add one layer on top of that as well. And this really gets back to the purpose behind the strategy and what I've talked about from the long-term. When you have a portfolio of very low-cost alumina refineries that also happen to be very low-carbon content, it means that you can transition to green products and have sufficient green products to really make a difference, not only for Alcoa, but make a difference in the marketplace. And I tie that back over to the work that we're doing from the Aluminum segment, as well in our portfolio is that as we go into the future, we'll again have a low -- very low cost portfolio, but then also the lowest carbon content across the board of all other aluminum producers. And so it helps you to win, as the world turns to green aluminum, it actually gives you a sustainable advantage because your portfolio is sustainable and renewable and have these characteristics across the board.
Alex Hacking -- Citi -- Analyst
Thank you very much. Very helpful.
Roy C. Harvey -- President and Chief Executive Officer
Thanks, Alex.
Operator
And the next question will come from David Gagliano with BMO Capital Markets. Please go ahead.
David Gagliano -- BMO Capital Markets -- Analyst
Hi. A lot of my questions have already been answered, but I guess I just wanted to pick up on the last line of question with regards to the EcoSource and the alumina low-carbon content. How do you plan to price this and what are you hearing from customers? Or do you plan to price EcoSource differently than the rest of the alumina?
Roy C. Harvey -- President and Chief Executive Officer
That's a good question, Dave, and I'm going to be honest, I'm not going to give you much of an answer, because that is something that we're working on as we speak and something that we're discussing with our customers. And so, realistically, to talk about a strategy, that is not in the cards. I would tell you that we think there is real value, both to the certification of carbon content, as well as the ASI certification that really takes it a step further into social responsibility and environmental awareness, etc. So I would argue that there is space for a premium. We're just still working on exactly how that will look as we deal with this on a customer by customer basis.
David Gagliano -- BMO Capital Markets -- Analyst
Okay, thanks. And then just one clarification question regarding fourth quarter. In the Aluminum segment, obviously, you called out the $50 million incremental headwind, excluding FX and commodity changes. If you assume current FX and commodity changes, would those changes offset that $50 million headwind? And the other part of that, for the Alumina segment, the down quarter-over-quarter in 4Q, does that take into consideration the FX that, that flow through 3Q results as well?
William F. Oplinger -- Executive Vice President and Chief Financial Officer
Yeah. So, all of them exclude FX. So whenever we give guidance, Dave, it's exclusive with metal prices and FX. As far as the Alumina fees [Phonetic] goes, we said it would be really the energy side and some of the mix. And as far as your question in regard to whether Aluminum FX would offset that $50 million, clearly, at this point, it's early in the quarter. Metal prices are better, premiums are a little bit worse than where they were in the third quarter. We gave you sensitivities to all of that. So as we go through the quarter, what you can do is just build in your sensitivities and determine where we end up based on that $50 million.
David Gagliano -- BMO Capital Markets -- Analyst
All right. Understood. I Just wanted to clarify on the FX part. Thank you very much.
William F. Oplinger -- Executive Vice President and Chief Financial Officer
Yeah.
Roy C. Harvey -- President and Chief Executive Officer
Thanks, Dave.
Operator
And our next question will come from Michael Dudas with Vertical Research. Please go ahead.
Michael Dudas -- Vertical Research -- Analyst
Good evening, everybody. Turning to China, in your assessment, I mean, as you indicate, a very strong demand, certainly there's been some changes on the flows on the Alumina side. Is -- or capacity situation going to continue to expand in China? And then the threat of restarting excess exports into the marketplace into 2021 something that investors should keep a real focus on as you're trying to figure out where Aluminum pricing might wash-out heading into next year, assuming we continue to get a COVID emerging recovery in the rest of the world?
Roy C. Harvey -- President and Chief Executive Officer
Yeah, Michael. I appreciate the question. I think the answer is pretty simple, yes. I think that's all -- those are all considerations that investors should have in mind, and to be quite honest, it's something that we do have in mind. I think the benefit that we've seen is the Chinese demand has really snapped back. I mean, if you want to look at a definition of a V-shaped recovery, when you look from really Q1 into Q2 and then on into Q3, it really have recovered very quickly and you look at that pretty broad-based through transportation and construction, packaging, all the different areas, really particularly in July and August, we've seen a very strong snap back. So demand, I think, is as backward as should be. And when you look at some of the support mechanisms that they've been rolling out, I think that is very helpful and very supportive of that demand continuing.
I think you've also seen that supply continues to come online, it's certainly coming online at a slower rate than it has before. You're also seeing them move more toward provinces where they have renewable energies available. So they are doing work in order to shift their portfolio. I think the fundamental question is, how demand then connects back over to supply and then how that connects into pricing. And so that -- I don't think I have a crystal ball, nor would I take a guess on where it leaves us. But I would say that China has been very constructive in trying to actively manage how their demand is growing and trying to incentivize it and then also have been very careful to enforce the rules they have in the book around capacity -- available capacity to bring online and ensuring that it has both the operating permit, but also an environmental permit. So I'd say that over these last couple of years, China has been very careful to enforce its rules and that's been very welcome from my perspective.
Michael Dudas -- Vertical Research -- Analyst
That is encouraging. And how -- and my second question is, how much is China on board with low-carbon issues in the Aluminum industry? And what's the ability for the country to -- you kind of mentioned they're trying to shift the portfolio, but they're going to be somewhat limited in what they have and where they can go to get the source.
Roy C. Harvey -- President and Chief Executive Officer
Yeah. Another really good question. I think it's -- I think, when you look at the way that the industry has developed outside of China, and so much tied over to renewable energy, simply because of the low-cost price of -- the low-cost energy was carbon free, it was typically hydropower. So we look at our portfolio and it's not universal. But we're on that -- going in that direction, it's been very much based on renewables because that's how the market developed. In China, it's been very much more based on coal, and in the relative inexpensive available coal in-country large coal reserves. And so the carbon content, if you look at the -- you look at the chart we published a few quarters ago, it's staggering, when you look at how skewed toward the higher part of that carbon content curve in Aluminum, and quite frankly in Alumina as well.
I think there is an acknowledgment and you see that -- an acknowledgment by the Chinese that this is an issue and you see that because of some of the announcements they've made about moving into provinces that do have hydropower available. I think that is, to a certain extent, limited by how much hydro they can bring online and how much they want dedicated into the Aluminum industry. I think it will take time although the Chinese are very good at constructing plants. But I think it's also, to a certain extent, supportive of the development of the green market in general. And can perhaps even accelerate and hasten it as we look at people -- as the Chinese and the rest of the world really starting to look in at the carbon content and therefore it becomes more and more transparent what different classes of metal might be.
Michael Dudas -- Vertical Research -- Analyst
Excellent, Roy. Thank you.
Roy C. Harvey -- President and Chief Executive Officer
Thanks, Michael.
Operator
And our next question will come from John Tumazos with John Tumazos Very Independent Research. Please go ahead.
John Tumazos -- John Tumazos Very Independent Research -- Analyst
Thank you. I was reading the Alumina limited disclosure to prepare and looking at your equity line in Alumina. Looks like the Ma'aden equity stake lost $21 million year-to-date. It is your newest refinery and presumably the ore grades and strip ratios etc., were attractive or you never would have gone in. Could you tell us why it doesn't perform as well as your other refineries? It appears to be a pretty big performance differential from a P&L standpoint.
William F. Oplinger -- Executive Vice President and Chief Financial Officer
Thanks, John. Let me take that question. The Ma'aden refinery does perform very well actually. When you see that equity pickup, what you're seeing is the share of earnings post interest and post depreciation. So it's not an EBITDA number, it's a post depreciation, post interest expense, net income number. So at the market level, and that was in the third quarter, that refinery lost money at a net income level but actually operates and performs extremely well. And we've been very pleased with the overall operation of the Ma'aden refinery and the Ma'aden smelter to add on to it.
John Tumazos -- John Tumazos Very Independent Research -- Analyst
Does the equity number that we see also have taxes in it?
William F. Oplinger -- Executive Vice President and Chief Financial Officer
It does. So you're looking at a post -- you're looking at essentially are equity earnings that are post taxes, post interest, post depreciation.
John Tumazos -- John Tumazos Very Independent Research -- Analyst
So the way the numbers are reported, it looks like the Alumina refinery earned your cost of capital maybe four quarters since 2017. So the capital on tax burden is a good bit.
William F. Oplinger -- Executive Vice President and Chief Financial Officer
I'd have to look back at the numbers to confirm that, John. What I can tell you is that, that project was a project finance. So at this point, we're now paying back the debt and it was -- both the refinery and the smelter were fairly expensive to build and at the time had projections of higher metal prices and Alumina prices. So at this point, as you can see from from our disclosures over the last few years, we've not earned a dividend out of that venture, not out of their refinery or out of the smelter. But we're very focused on making sure that the venture starts to pay dividends when the cash flow is available.
John Tumazos -- John Tumazos Very Independent Research -- Analyst
Thank you.
Roy C. Harvey -- President and Chief Executive Officer
Thanks, John. Hope you're doing well.
Operator
And our final question today will come from Paretosh Misra with Berenberg. Please go ahead.
Paretosh Misra -- Berenberg -- Analyst
Thank you for taking my question. So first, just going back on that green aluminum discussion. I'm guessing a good market to get some sort of price premium for those -- for that green aluminum products would be the packaging sector. So just curious, do you sell much into that end market or those beverage can makers primarily by scrap?
Roy C. Harvey -- President and Chief Executive Officer
Yeah, Paretosh, it's going to be hard to get down into that level of detail. I think we've had conversations with a number of different customers. And as you know, some of our competitors also have similar or somewhat similar green products as well. So I think there is a move from can makers specifically to step into that market and to look for ways to lower their carbon content. As you know, we've got a rolling mill that does make can stock. However, a lot of that metal feed comes from our Warrick smelter. And so, right now, probably not perfectly positioned in order to turn that into a green aluminum although that's something that we'll be considering for the future. But at the same time, I think those discussions are ongoing. I think we are seeing more and more discussions about premium and firming up how that will look like in the future. And again, I think it's a great opportunity and I think packaging itself is a great place for us to put more aluminum.
Paretosh Misra -- Berenberg -- Analyst
Yeah, I agree. That's very interesting. And just another one on that and let that be the last one. I'm seeing some of the plastic companies have also started exploring the idea of recycling plastic, perhaps not all types of plastics, but maybe six out of seven. So are you also seeing an increased competition from plastics in some of your markets, or you think aluminum, still by far, remains the preferred material at least from the recycling point of view?
Roy C. Harvey -- President and Chief Executive Officer
Yeah. We've never seen plastic recycling programs that works as well as aluminum recycling programs. And obviously I'll not be the expert on where some of the plastics manufacturers -- how they're trying to build up those recycling programs, but I'd say it's taking time to develop aluminum recycling. Also, I'd say that aluminum offers other real benefits like the way that the cans are made, the stackability, the ability to transfer cold from your refrigerator into your drink and beverage of choice. So I'd say that I have no doubt that plastics will be trying to make an end run into some of those markets again.
But at the same time, I think that aluminum just offers a lot of advantages. It offers a pretty reasonable price and in the end, I think will be the metal of choice. And I'll tell you flat out, that's part of our job is to make sure that, that actually happens in that we smartly and thoughtfully explain the benefits from Bauxite all the way down to that rolled product. What green aluminum that's -- that has green alumina content inside and follows the -- all of the ASI certifications for social responsibility etc., the difference that makes and how that, in fact, not only strengthens but really just brings forward the value proposition of aluminum beverage cans, or any other market. So we'll be working on it.
William F. Oplinger -- Executive Vice President and Chief Financial Officer
And if you don't mind, Roy, I'll just throw in some additional facts out there before you prepare your closing remarks. So just to be clear, Paretosh, aluminum, unlike plastic is infinitely recyclable. All right. So it does not get downcycled in the process. So you can recycle it on an indefinite basis. It uses about one-twentieth or 5% of the energy to recycle an aluminum can versus create a new one. So tremendous economic benefits to recycling aluminum and something like 75% of all the world's aluminum ever made is still being in use just because it is the one recycling stream that actually is economically viable. So we think there is a tremendous future for the economic and environmental benefits of aluminum. Sorry, to get on the soapbox there, but it is a great metal into the future.
Paretosh Misra -- Berenberg -- Analyst
No, very interesting. Thanks, Roy and thanks, Bill and good luck with everything.
Roy C. Harvey -- President and Chief Executive Officer
Thanks, Paretosh.
Operator
Ladies and gentlemen, that concludes the question-and-answer session. I'd like to turn the conference back over to Roy Harvey for any closing remarks.
Roy C. Harvey -- President and Chief Executive Officer
Perfect. Thanks, Cole. So I'd like to thank everybody for their time today. I'll summarize simply by saying that I'm very proud of what what we've achieved, what our Alcoans have achieved. I'm also very much looking forward to the work ahead because as we discussed a number of times in a number of different places, there still is work to be done in order for us to continue to drive toward that strategy. I appreciate you following our story and look forward to updating you again next quarter. Thank you and have a good evening.
Operator
[Operator Closing Remarks]
Duration: 75 minutes
Call participants:
James Dwyer -- Vice President of Investor Relations
Roy C. Harvey -- President and Chief Executive Officer
William F. Oplinger -- Executive Vice President and Chief Financial Officer
Chris Terry -- Deutsche Bank -- Analyst
Carlos de Alba -- Morgan Stanley -- Analyst
Timna Tanners -- Bank of America Securities -- Analyst
Lucas Pipes -- B. Riley FBR -- Analyst
Alex Hacking -- Citi -- Analyst
David Gagliano -- BMO Capital Markets -- Analyst
Michael Dudas -- Vertical Research -- Analyst
John Tumazos -- John Tumazos Very Independent Research -- Analyst
Paretosh Misra -- Berenberg -- Analyst
More AA analysis
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This article is a transcript of this conference call produced for The Motley Fool. While we strive for our Foolish Best, there may be errors, omissions, or inaccuracies in this transcript. As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Alcoa Corporation (NYSE: AA) Q3 2020 Earnings Call Oct 14, 2020, 5:00 p.m. In addition, we have included some non-GAAP financial measures in this presentation. Reconciliations to the most directly comparable GAAP financial measures can be found in the appendix to today's presentation.
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Operator [Operator Closing Remarks] Duration: 75 minutes Call participants: James Dwyer -- Vice President of Investor Relations Roy C. Harvey -- President and Chief Executive Officer William F. Oplinger -- Executive Vice President and Chief Financial Officer Chris Terry -- Deutsche Bank -- Analyst Carlos de Alba -- Morgan Stanley -- Analyst Timna Tanners -- Bank of America Securities -- Analyst Lucas Pipes -- B. Riley FBR -- Analyst Alex Hacking -- Citi -- Analyst David Gagliano -- BMO Capital Markets -- Analyst Michael Dudas -- Vertical Research -- Analyst John Tumazos -- John Tumazos Very Independent Research -- Analyst Paretosh Misra -- Berenberg -- Analyst More AA analysis All earnings call transcripts 10 stocks we like better than Alcoa Inc. Alcoa Corporation (NYSE: AA) Q3 2020 Earnings Call Oct 14, 2020, 5:00 p.m. In addition, we have included some non-GAAP financial measures in this presentation.
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Operator [Operator Closing Remarks] Duration: 75 minutes Call participants: James Dwyer -- Vice President of Investor Relations Roy C. Harvey -- President and Chief Executive Officer William F. Oplinger -- Executive Vice President and Chief Financial Officer Chris Terry -- Deutsche Bank -- Analyst Carlos de Alba -- Morgan Stanley -- Analyst Timna Tanners -- Bank of America Securities -- Analyst Lucas Pipes -- B. Riley FBR -- Analyst Alex Hacking -- Citi -- Analyst David Gagliano -- BMO Capital Markets -- Analyst Michael Dudas -- Vertical Research -- Analyst John Tumazos -- John Tumazos Very Independent Research -- Analyst Paretosh Misra -- Berenberg -- Analyst More AA analysis All earnings call transcripts 10 stocks we like better than Alcoa Inc. Alcoa Corporation (NYSE: AA) Q3 2020 Earnings Call Oct 14, 2020, 5:00 p.m. In addition, we have included some non-GAAP financial measures in this presentation.
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Operator [Operator Closing Remarks] Duration: 75 minutes Call participants: James Dwyer -- Vice President of Investor Relations Roy C. Harvey -- President and Chief Executive Officer William F. Oplinger -- Executive Vice President and Chief Financial Officer Chris Terry -- Deutsche Bank -- Analyst Carlos de Alba -- Morgan Stanley -- Analyst Timna Tanners -- Bank of America Securities -- Analyst Lucas Pipes -- B. Riley FBR -- Analyst Alex Hacking -- Citi -- Analyst David Gagliano -- BMO Capital Markets -- Analyst Michael Dudas -- Vertical Research -- Analyst John Tumazos -- John Tumazos Very Independent Research -- Analyst Paretosh Misra -- Berenberg -- Analyst More AA analysis All earnings call transcripts 10 stocks we like better than Alcoa Inc. Alcoa Corporation (NYSE: AA) Q3 2020 Earnings Call Oct 14, 2020, 5:00 p.m. In addition, we have included some non-GAAP financial measures in this presentation.
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856d9aa2-6896-4cc5-9544-7833a32af051
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1117.0
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2020-10-13 00:00:00 UTC
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EU imposes tariffs on aluminium products from China
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AA
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https://www.nasdaq.com/articles/eu-imposes-tariffs-on-aluminium-products-from-china-2020-10-13
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BRUSSELS, Oct 13 (Reuters) - The European Union will impose duties of up to 48% on imports of aluminium extrusions from China midway through an investigation into whether Chinese producers are selling at unfairly low prices.
The EU official journal said on Tuesday that the duties, ranging from 30.4 to 48.0%, would apply from Wednesday. The duties are provisional, meaning they will apply until the investigation's expected completion by April.
At that point, the bloc could apply duties for five years.
The European Commission, which coordinates trade policy in the 27-nation European Union, opened an investigation in February into the product widely used in transport, construction and electronics after a complaint from industry body European Aluminium.
Members of European Aluminium include Norsk Hydro NHY.OL, Rio Tinto RIO.L, RIO.AX and Alcoa AA.N.
China's metals association has called the complaint groundless.
The duties will be of 30.4% for Guangdong Haomei New Materials Co Ltd 002988.SZ and Guangdong King Metal Light Alloy Technology Co Ltd, while Press Metal International Ltd will see duties of 38.2%.
Other "cooperating" companies would face duties of 34.9% and material from all other companies would see charges of 48%.
(Reporting by Philip Blenkinsop, editing by Louise Heavens)
((philip.blenkinsop@thomsonreuters.com; +32 2 585 2869; Reuters Messaging: philip.blenkinsop.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.
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Members of European Aluminium include Norsk Hydro NHY.OL, Rio Tinto RIO.L, RIO.AX and Alcoa AA.N. BRUSSELS, Oct 13 (Reuters) - The European Union will impose duties of up to 48% on imports of aluminium extrusions from China midway through an investigation into whether Chinese producers are selling at unfairly low prices. The duties are provisional, meaning they will apply until the investigation's expected completion by April.
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Members of European Aluminium include Norsk Hydro NHY.OL, Rio Tinto RIO.L, RIO.AX and Alcoa AA.N. BRUSSELS, Oct 13 (Reuters) - The European Union will impose duties of up to 48% on imports of aluminium extrusions from China midway through an investigation into whether Chinese producers are selling at unfairly low prices. At that point, the bloc could apply duties for five years.
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Members of European Aluminium include Norsk Hydro NHY.OL, Rio Tinto RIO.L, RIO.AX and Alcoa AA.N. BRUSSELS, Oct 13 (Reuters) - The European Union will impose duties of up to 48% on imports of aluminium extrusions from China midway through an investigation into whether Chinese producers are selling at unfairly low prices. The European Commission, which coordinates trade policy in the 27-nation European Union, opened an investigation in February into the product widely used in transport, construction and electronics after a complaint from industry body European Aluminium.
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Members of European Aluminium include Norsk Hydro NHY.OL, Rio Tinto RIO.L, RIO.AX and Alcoa AA.N. The EU official journal said on Tuesday that the duties, ranging from 30.4 to 48.0%, would apply from Wednesday. The duties are provisional, meaning they will apply until the investigation's expected completion by April.
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c878910a-e4b7-42b7-9ae9-660cc79400d4
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1118.0
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2020-10-09 00:00:00 UTC
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Alcoa To Curtail San Ciprián Aluminum Smelter In Spain; To Affect 530 Jobs - Quick Facts
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AA
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https://www.nasdaq.com/articles/alcoa-to-curtail-san-ciprian-aluminum-smelter-in-spain-to-affect-530-jobs-quick-facts-2020
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(RTTNews) - Alcoa Corp. (AA) will curtail its San Ciprián aluminum smelter in Spain and initiate a collective dismissal that will affect approximately 530 employees. However, the alumina refinery at San Ciprián will continue to operate.
Alcoa made the decision after considering all options, including reviewing records associated with four months of consultations with the workers' representatives and the negotiations during a potential sale process.
On September 29, Alcoa announced that the Company would take up to 15 days to determine and announce a decision regarding the smelter's 228,000 metric tons of annual capacity.
The smelter's curtailment is expected to be complete in the first quarter of 2021, and approximately 100 employees will remain to operate a portion of the casthouse.
The aluminum plant has already incurred a net loss of approximately $45 million through September 30. In 2018 and 2019, the aluminum plant had combined net losses of $126 million.
Alcoa will offer severance packages and employment services for those affected by the curtailment decision. Alcoa expects restructuring charges of approximately $35 million to $40 million (pre- and after-tax), or $0.19 to $0.22 per share, in the fourth quarter of 2020 for employee-related costs.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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(RTTNews) - Alcoa Corp. (AA) will curtail its San Ciprián aluminum smelter in Spain and initiate a collective dismissal that will affect approximately 530 employees. Alcoa made the decision after considering all options, including reviewing records associated with four months of consultations with the workers' representatives and the negotiations during a potential sale process. The smelter's curtailment is expected to be complete in the first quarter of 2021, and approximately 100 employees will remain to operate a portion of the casthouse.
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(RTTNews) - Alcoa Corp. (AA) will curtail its San Ciprián aluminum smelter in Spain and initiate a collective dismissal that will affect approximately 530 employees. The aluminum plant has already incurred a net loss of approximately $45 million through September 30. In 2018 and 2019, the aluminum plant had combined net losses of $126 million.
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(RTTNews) - Alcoa Corp. (AA) will curtail its San Ciprián aluminum smelter in Spain and initiate a collective dismissal that will affect approximately 530 employees. The aluminum plant has already incurred a net loss of approximately $45 million through September 30. Alcoa expects restructuring charges of approximately $35 million to $40 million (pre- and after-tax), or $0.19 to $0.22 per share, in the fourth quarter of 2020 for employee-related costs.
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(RTTNews) - Alcoa Corp. (AA) will curtail its San Ciprián aluminum smelter in Spain and initiate a collective dismissal that will affect approximately 530 employees. Alcoa made the decision after considering all options, including reviewing records associated with four months of consultations with the workers' representatives and the negotiations during a potential sale process. Alcoa expects restructuring charges of approximately $35 million to $40 million (pre- and after-tax), or $0.19 to $0.22 per share, in the fourth quarter of 2020 for employee-related costs.
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f4852460-72cf-47c5-9f37-a5ee1b8b7d70
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1119.0
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2020-10-09 00:00:00 UTC
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BUZZ-U.S. STOCKS ON THE MOVE-GE, Mallinckrodt, Just Energy, cannabis stocks, VivoPower International
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AA
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https://www.nasdaq.com/articles/buzz-u.s.-stocks-on-the-move-ge-mallinckrodt-just-energy-cannabis-stocks-vivopower
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nan
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Eikon search string for individual stock moves: STXBZ
The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi
The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh
Wall Street's main indexes were set to rise on Friday, setting up the S&P 500 and the Dow for their second straight weekly gain on hopes of more fiscal aid and growing expectations of a Democratic victory in next month's presidential election. .N
At 9:06 a.m. ET, Dow e-minis 1YMc1 were up 0.52% at 28,456. S&P 500 e-minis ESc1 were up 0.59% at 3,457.75, while Nasdaq 100 e-minis NQc1 were up 0.63% at 11,611.75. The top three NYSE percentage gainers premarket .PRPG.NQ: ** Just Energy Group Inc , up 15.2% ** Pacific Drilling S.A. , up 14.5% ** Aurora Cannabis Inc , up 12.0% The top three NYSE percentage losers premarket .PRPL.NQ: ** Mallinckrodt Public Ltd , down 11% ** Maui Land & Pineapple Co Inc, down 8.1% ** Par Pacific Holdings Inc , down 6.9% The top two Nasdaq percentage gainers premarket .PRPG.O: ** U.S. Well Services Inc , up 71.8% ** Vivopower International Plc , up 42.1% The top three Nasdaq percentage losers premarket .PRPL.O: ** Seanergy Maritime Holdings Corp , down 27.9% ** Intrusion Inc , down 26.4% ** ShiftPixy Inc , down 24.8% ** General Electric Co GE.N: up 6.2% premarket BUZZ-General Electric jumps after GS reinstates 'buy' rating - thefly.com ** Mallinckrodt PLC MNK.N: down 11.0% premarket BUZZ-: Down after report says co's bankruptcy to give control over to bondholders ** Tilray TLRY.O: up 7.6% premarket ** Aurora Cannabis ACB.N: up 12.0% premarket BUZZ-Cannabis stocks surge further after VP nominee Harris vows to decriminalize pot ** VivoPower International PLC VVPR.O: up 42.1% premarket BUZZ-Gains on finalizing EV maker acquisition ** ON Semiconductor Corp ON.O: up 1.4% premarket BUZZ-Gains as brokerages raise price targets ** OPKO Health Inc OPK.O: up 2.0% premarket BUZZ-Up on launching COVID-19 testing program for NYC schools ** Alcoa Corp AA.N: up 1.2% premarket BUZZ-Gains on curtailment of San Ciprián aluminum smelter ** Cytosorbents Corp CTSO.O: up 4.4% premarket BUZZ-Up on $1.1 mln award to develop plasma filter ** Rigel Pharmaceuticals Inc RIGL.O: up 1.9% premarket BUZZ-Rises as mid-stage trial of COVID-19 drug begins ** Axovant Gene Therapies Ltd AXGT.O: up 3.6% premarket BUZZ-Rises on FDA's rare pediatric disease status for gene therapy ** Advanced Micro Devices Inc AMD.O: down 3.2% premarket ** Xilinx Inc XLNX.O: up 16.2% premarket BUZZ-Xilinx soars on report of $30 bln buyout deal from AMD ** GenMark Diagnostics Inc GNMK.O: up 11.7% premarket BUZZ-Rises after forecasting Q3 revenue to more than double ** International Business Machines Corp IBM.N: up 0.3% premarket BUZZ-Street View: IBM's spin-off is adding by subtracting ** McDonald's Corp MCD.N: up 0.5% premarket BUZZ-Street View: McDonald's driving through with hot sales ** Domino's Pizza Inc DPZ.N: up 0.5% premarket BUZZ-Street View: Long-term opportunities intact for Domino's Pizza ** Extreme Networks Inc EXTR.O: up 14.4% premarket BUZZ-Up after raising revenue forecast ** Selecta Biosciences Inc SELB.O: up 5.7% premarket BUZZ-Rises on research agreement with IGAN Biosciences ** HCA Healthcare Inc HCA.N: up 5.5% premarket BUZZ-Rises on upbeat quarterly revenue forecast ** NXP Semiconductors NV NXPI.O: up 6.0% premarket BUZZ-Rises as co hikes quarterly revenue forecast ** Norfolk Southern Corp NSC.N: up 1.0% premarket BUZZ-Norfolk Southern forecasts better-than-expected Q3 results
(Compiled by Shradha Singh in Bengaluru)
((Shradha.singh@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.
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The top three NYSE percentage gainers premarket .PRPG.NQ: ** Just Energy Group Inc , up 15.2% ** Pacific Drilling S.A. , up 14.5% ** Aurora Cannabis Inc , up 12.0% The top three NYSE percentage losers premarket .PRPL.NQ: ** Mallinckrodt Public Ltd , down 11% ** Maui Land & Pineapple Co Inc, down 8.1% ** Par Pacific Holdings Inc , down 6.9% The top two Nasdaq percentage gainers premarket .PRPG.O: ** U.S. Well Services Inc , up 71.8% ** Vivopower International Plc , up 42.1% The top three Nasdaq percentage losers premarket .PRPL.O: ** Seanergy Maritime Holdings Corp , down 27.9% ** Intrusion Inc , down 26.4% ** ShiftPixy Inc , down 24.8% ** General Electric Co GE.N: up 6.2% premarket BUZZ-General Electric jumps after GS reinstates 'buy' rating - thefly.com ** Mallinckrodt PLC MNK.N: down 11.0% premarket BUZZ-: Down after report says co's bankruptcy to give control over to bondholders ** Tilray TLRY.O: up 7.6% premarket ** Aurora Cannabis ACB.N: up 12.0% premarket BUZZ-Cannabis stocks surge further after VP nominee Harris vows to decriminalize pot ** VivoPower International PLC VVPR.O: up 42.1% premarket BUZZ-Gains on finalizing EV maker acquisition ** ON Semiconductor Corp ON.O: up 1.4% premarket BUZZ-Gains as brokerages raise price targets ** OPKO Health Inc OPK.O: up 2.0% premarket BUZZ-Up on launching COVID-19 testing program for NYC schools ** Alcoa Corp AA.N: up 1.2% premarket BUZZ-Gains on curtailment of San Ciprián aluminum smelter ** Cytosorbents Corp CTSO.O: up 4.4% premarket BUZZ-Up on $1.1 mln award to develop plasma filter ** Rigel Pharmaceuticals Inc RIGL.O: up 1.9% premarket BUZZ-Rises as mid-stage trial of COVID-19 drug begins ** Axovant Gene Therapies Ltd AXGT.O: up 3.6% premarket BUZZ-Rises on FDA's rare pediatric disease status for gene therapy ** Advanced Micro Devices Inc AMD.O: down 3.2% premarket ** Xilinx Inc XLNX.O: up 16.2% premarket BUZZ-Xilinx soars on report of $30 bln buyout deal from AMD ** GenMark Diagnostics Inc GNMK.O: up 11.7% premarket BUZZ-Rises after forecasting Q3 revenue to more than double ** International Business Machines Corp IBM.N: up 0.3% premarket BUZZ-Street View: IBM's spin-off is adding by subtracting ** McDonald's Corp MCD.N: up 0.5% premarket BUZZ-Street View: McDonald's driving through with hot sales ** Domino's Pizza Inc DPZ.N: up 0.5% premarket BUZZ-Street View: Long-term opportunities intact for Domino's Pizza ** Extreme Networks Inc EXTR.O: up 14.4% premarket BUZZ-Up after raising revenue forecast ** Selecta Biosciences Inc SELB.O: up 5.7% premarket BUZZ-Rises on research agreement with IGAN Biosciences ** HCA Healthcare Inc HCA.N: up 5.5% premarket BUZZ-Rises on upbeat quarterly revenue forecast ** NXP Semiconductors NV NXPI.O: up 6.0% premarket BUZZ-Rises as co hikes quarterly revenue forecast ** Norfolk Southern Corp NSC.N: up 1.0% premarket BUZZ-Norfolk Southern forecasts better-than-expected Q3 results (Compiled by Shradha Singh in Bengaluru) ((Shradha.singh@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. Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's main indexes were set to rise on Friday, setting up the S&P 500 and the Dow for their second straight weekly gain on hopes of more fiscal aid and growing expectations of a Democratic victory in next month's presidential election. ET, Dow e-minis 1YMc1 were up 0.52% at 28,456.
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The top three NYSE percentage gainers premarket .PRPG.NQ: ** Just Energy Group Inc , up 15.2% ** Pacific Drilling S.A. , up 14.5% ** Aurora Cannabis Inc , up 12.0% The top three NYSE percentage losers premarket .PRPL.NQ: ** Mallinckrodt Public Ltd , down 11% ** Maui Land & Pineapple Co Inc, down 8.1% ** Par Pacific Holdings Inc , down 6.9% The top two Nasdaq percentage gainers premarket .PRPG.O: ** U.S. Well Services Inc , up 71.8% ** Vivopower International Plc , up 42.1% The top three Nasdaq percentage losers premarket .PRPL.O: ** Seanergy Maritime Holdings Corp , down 27.9% ** Intrusion Inc , down 26.4% ** ShiftPixy Inc , down 24.8% ** General Electric Co GE.N: up 6.2% premarket BUZZ-General Electric jumps after GS reinstates 'buy' rating - thefly.com ** Mallinckrodt PLC MNK.N: down 11.0% premarket BUZZ-: Down after report says co's bankruptcy to give control over to bondholders ** Tilray TLRY.O: up 7.6% premarket ** Aurora Cannabis ACB.N: up 12.0% premarket BUZZ-Cannabis stocks surge further after VP nominee Harris vows to decriminalize pot ** VivoPower International PLC VVPR.O: up 42.1% premarket BUZZ-Gains on finalizing EV maker acquisition ** ON Semiconductor Corp ON.O: up 1.4% premarket BUZZ-Gains as brokerages raise price targets ** OPKO Health Inc OPK.O: up 2.0% premarket BUZZ-Up on launching COVID-19 testing program for NYC schools ** Alcoa Corp AA.N: up 1.2% premarket BUZZ-Gains on curtailment of San Ciprián aluminum smelter ** Cytosorbents Corp CTSO.O: up 4.4% premarket BUZZ-Up on $1.1 mln award to develop plasma filter ** Rigel Pharmaceuticals Inc RIGL.O: up 1.9% premarket BUZZ-Rises as mid-stage trial of COVID-19 drug begins ** Axovant Gene Therapies Ltd AXGT.O: up 3.6% premarket BUZZ-Rises on FDA's rare pediatric disease status for gene therapy ** Advanced Micro Devices Inc AMD.O: down 3.2% premarket ** Xilinx Inc XLNX.O: up 16.2% premarket BUZZ-Xilinx soars on report of $30 bln buyout deal from AMD ** GenMark Diagnostics Inc GNMK.O: up 11.7% premarket BUZZ-Rises after forecasting Q3 revenue to more than double ** International Business Machines Corp IBM.N: up 0.3% premarket BUZZ-Street View: IBM's spin-off is adding by subtracting ** McDonald's Corp MCD.N: up 0.5% premarket BUZZ-Street View: McDonald's driving through with hot sales ** Domino's Pizza Inc DPZ.N: up 0.5% premarket BUZZ-Street View: Long-term opportunities intact for Domino's Pizza ** Extreme Networks Inc EXTR.O: up 14.4% premarket BUZZ-Up after raising revenue forecast ** Selecta Biosciences Inc SELB.O: up 5.7% premarket BUZZ-Rises on research agreement with IGAN Biosciences ** HCA Healthcare Inc HCA.N: up 5.5% premarket BUZZ-Rises on upbeat quarterly revenue forecast ** NXP Semiconductors NV NXPI.O: up 6.0% premarket BUZZ-Rises as co hikes quarterly revenue forecast ** Norfolk Southern Corp NSC.N: up 1.0% premarket BUZZ-Norfolk Southern forecasts better-than-expected Q3 results (Compiled by Shradha Singh in Bengaluru) ((Shradha.singh@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. Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's main indexes were set to rise on Friday, setting up the S&P 500 and the Dow for their second straight weekly gain on hopes of more fiscal aid and growing expectations of a Democratic victory in next month's presidential election. ET, Dow e-minis 1YMc1 were up 0.52% at 28,456.
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The top three NYSE percentage gainers premarket .PRPG.NQ: ** Just Energy Group Inc , up 15.2% ** Pacific Drilling S.A. , up 14.5% ** Aurora Cannabis Inc , up 12.0% The top three NYSE percentage losers premarket .PRPL.NQ: ** Mallinckrodt Public Ltd , down 11% ** Maui Land & Pineapple Co Inc, down 8.1% ** Par Pacific Holdings Inc , down 6.9% The top two Nasdaq percentage gainers premarket .PRPG.O: ** U.S. Well Services Inc , up 71.8% ** Vivopower International Plc , up 42.1% The top three Nasdaq percentage losers premarket .PRPL.O: ** Seanergy Maritime Holdings Corp , down 27.9% ** Intrusion Inc , down 26.4% ** ShiftPixy Inc , down 24.8% ** General Electric Co GE.N: up 6.2% premarket BUZZ-General Electric jumps after GS reinstates 'buy' rating - thefly.com ** Mallinckrodt PLC MNK.N: down 11.0% premarket BUZZ-: Down after report says co's bankruptcy to give control over to bondholders ** Tilray TLRY.O: up 7.6% premarket ** Aurora Cannabis ACB.N: up 12.0% premarket BUZZ-Cannabis stocks surge further after VP nominee Harris vows to decriminalize pot ** VivoPower International PLC VVPR.O: up 42.1% premarket BUZZ-Gains on finalizing EV maker acquisition ** ON Semiconductor Corp ON.O: up 1.4% premarket BUZZ-Gains as brokerages raise price targets ** OPKO Health Inc OPK.O: up 2.0% premarket BUZZ-Up on launching COVID-19 testing program for NYC schools ** Alcoa Corp AA.N: up 1.2% premarket BUZZ-Gains on curtailment of San Ciprián aluminum smelter ** Cytosorbents Corp CTSO.O: up 4.4% premarket BUZZ-Up on $1.1 mln award to develop plasma filter ** Rigel Pharmaceuticals Inc RIGL.O: up 1.9% premarket BUZZ-Rises as mid-stage trial of COVID-19 drug begins ** Axovant Gene Therapies Ltd AXGT.O: up 3.6% premarket BUZZ-Rises on FDA's rare pediatric disease status for gene therapy ** Advanced Micro Devices Inc AMD.O: down 3.2% premarket ** Xilinx Inc XLNX.O: up 16.2% premarket BUZZ-Xilinx soars on report of $30 bln buyout deal from AMD ** GenMark Diagnostics Inc GNMK.O: up 11.7% premarket BUZZ-Rises after forecasting Q3 revenue to more than double ** International Business Machines Corp IBM.N: up 0.3% premarket BUZZ-Street View: IBM's spin-off is adding by subtracting ** McDonald's Corp MCD.N: up 0.5% premarket BUZZ-Street View: McDonald's driving through with hot sales ** Domino's Pizza Inc DPZ.N: up 0.5% premarket BUZZ-Street View: Long-term opportunities intact for Domino's Pizza ** Extreme Networks Inc EXTR.O: up 14.4% premarket BUZZ-Up after raising revenue forecast ** Selecta Biosciences Inc SELB.O: up 5.7% premarket BUZZ-Rises on research agreement with IGAN Biosciences ** HCA Healthcare Inc HCA.N: up 5.5% premarket BUZZ-Rises on upbeat quarterly revenue forecast ** NXP Semiconductors NV NXPI.O: up 6.0% premarket BUZZ-Rises as co hikes quarterly revenue forecast ** Norfolk Southern Corp NSC.N: up 1.0% premarket BUZZ-Norfolk Southern forecasts better-than-expected Q3 results (Compiled by Shradha Singh in Bengaluru) ((Shradha.singh@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. Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's main indexes were set to rise on Friday, setting up the S&P 500 and the Dow for their second straight weekly gain on hopes of more fiscal aid and growing expectations of a Democratic victory in next month's presidential election. S&P 500 e-minis ESc1 were up 0.59% at 3,457.75, while Nasdaq 100 e-minis NQc1 were up 0.63% at 11,611.75.
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The top three NYSE percentage gainers premarket .PRPG.NQ: ** Just Energy Group Inc , up 15.2% ** Pacific Drilling S.A. , up 14.5% ** Aurora Cannabis Inc , up 12.0% The top three NYSE percentage losers premarket .PRPL.NQ: ** Mallinckrodt Public Ltd , down 11% ** Maui Land & Pineapple Co Inc, down 8.1% ** Par Pacific Holdings Inc , down 6.9% The top two Nasdaq percentage gainers premarket .PRPG.O: ** U.S. Well Services Inc , up 71.8% ** Vivopower International Plc , up 42.1% The top three Nasdaq percentage losers premarket .PRPL.O: ** Seanergy Maritime Holdings Corp , down 27.9% ** Intrusion Inc , down 26.4% ** ShiftPixy Inc , down 24.8% ** General Electric Co GE.N: up 6.2% premarket BUZZ-General Electric jumps after GS reinstates 'buy' rating - thefly.com ** Mallinckrodt PLC MNK.N: down 11.0% premarket BUZZ-: Down after report says co's bankruptcy to give control over to bondholders ** Tilray TLRY.O: up 7.6% premarket ** Aurora Cannabis ACB.N: up 12.0% premarket BUZZ-Cannabis stocks surge further after VP nominee Harris vows to decriminalize pot ** VivoPower International PLC VVPR.O: up 42.1% premarket BUZZ-Gains on finalizing EV maker acquisition ** ON Semiconductor Corp ON.O: up 1.4% premarket BUZZ-Gains as brokerages raise price targets ** OPKO Health Inc OPK.O: up 2.0% premarket BUZZ-Up on launching COVID-19 testing program for NYC schools ** Alcoa Corp AA.N: up 1.2% premarket BUZZ-Gains on curtailment of San Ciprián aluminum smelter ** Cytosorbents Corp CTSO.O: up 4.4% premarket BUZZ-Up on $1.1 mln award to develop plasma filter ** Rigel Pharmaceuticals Inc RIGL.O: up 1.9% premarket BUZZ-Rises as mid-stage trial of COVID-19 drug begins ** Axovant Gene Therapies Ltd AXGT.O: up 3.6% premarket BUZZ-Rises on FDA's rare pediatric disease status for gene therapy ** Advanced Micro Devices Inc AMD.O: down 3.2% premarket ** Xilinx Inc XLNX.O: up 16.2% premarket BUZZ-Xilinx soars on report of $30 bln buyout deal from AMD ** GenMark Diagnostics Inc GNMK.O: up 11.7% premarket BUZZ-Rises after forecasting Q3 revenue to more than double ** International Business Machines Corp IBM.N: up 0.3% premarket BUZZ-Street View: IBM's spin-off is adding by subtracting ** McDonald's Corp MCD.N: up 0.5% premarket BUZZ-Street View: McDonald's driving through with hot sales ** Domino's Pizza Inc DPZ.N: up 0.5% premarket BUZZ-Street View: Long-term opportunities intact for Domino's Pizza ** Extreme Networks Inc EXTR.O: up 14.4% premarket BUZZ-Up after raising revenue forecast ** Selecta Biosciences Inc SELB.O: up 5.7% premarket BUZZ-Rises on research agreement with IGAN Biosciences ** HCA Healthcare Inc HCA.N: up 5.5% premarket BUZZ-Rises on upbeat quarterly revenue forecast ** NXP Semiconductors NV NXPI.O: up 6.0% premarket BUZZ-Rises as co hikes quarterly revenue forecast ** Norfolk Southern Corp NSC.N: up 1.0% premarket BUZZ-Norfolk Southern forecasts better-than-expected Q3 results (Compiled by Shradha Singh in Bengaluru) ((Shradha.singh@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. Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's main indexes were set to rise on Friday, setting up the S&P 500 and the Dow for their second straight weekly gain on hopes of more fiscal aid and growing expectations of a Democratic victory in next month's presidential election. ET, Dow e-minis 1YMc1 were up 0.52% at 28,456.
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fccd00a5-3c20-4d2a-a0c7-2b5974a6e6c3
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1120.0
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2020-10-09 00:00:00 UTC
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BUZZ-U.S. STOCKS ON THE MOVE-Mallinckrodt, Ebay, VivoPower International, Just Energy, Xilinx
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AA
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https://www.nasdaq.com/articles/buzz-u.s.-stocks-on-the-move-mallinckrodt-ebay-vivopower-international-just-energy-xilinx
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nan
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nan
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Eikon search string for individual stock moves: STXBZ
The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi
The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh
Wall Street's main indexes opened higher on Friday, setting up the S&P 500 and the Dow for their second straight weekly gain on hopes of more federal fiscal aid and growing expectations of a Democratic victory in next month's presidential election. .N
At 10:45 ET, the Dow Jones Industrial Average .DJI was up 0.26% at 28,500.35. The S&P 500 .SPX was up 0.36% at 3,459.23 and the Nasdaq Composite .IXIC was up 0.89% at 11,522.699. The top three S&P 500 .PG.INX percentage gainers: ** Xilinx Inc , up 11.6% ** Teradyne Inc , up 4.1% ** Ebay Inc , up 4% The top three S&P 500 .PL.INX percentage losers: ** Vontier Corp , down 13.3% ** Apache Corp , down 3.6% ** Martin Marietta Materials Inc , down 3.1% The top three NYSE .PG.N percentage gainers: ** Just Energy Group , up 45.9% ** WisdomTree Emerging Markets ESG Fund , up 38.1% ** Independence Contract Drilling Inc , up 17% The top three NYSE .PL.N percentage losers: ** Universal Security Instruments Inc, down 13.5% ** Vontier Corp , down 13.3 % ** AgeX Therapeutics Inc , down 11 % The top three Nasdaq .PG.O percentage gainers: ** VivoPower International PLC , up 46.6% ** Precigen Inc , up 29.9% ** SpartanNash Co , up 24% The top three Nasdaq .PL.O percentage losers: ** ShiftPixy Inc , down 24.5% ** Intrusion Inc , down 16.1% ** GeoVax Labs Inc , down 12.3% ** Mallinckrodt PLC MNK.N: down 20.6%
BUZZ-: Down after report says co's bankruptcy to give control over to bondholders ** VivoPower International PLC VVPR.O: up 46.6%
BUZZ-Gains on finalizing EV maker acquisition ** Xilinx Inc XLNX.O: up 11.6% ** Advanced Micro Devices Inc AMD.O: down 3.1% BUZZ-Xilinx soars on report of $30 bln buyout deal from AMD
** Coupa Software Inc COUP.O: up 4.1%
BUZZ-Deutsche Bank starts coverage of Coupa Software with 'buy' ** Watford Holdings Ltd WTRE.O: up 6.9%
BUZZ-Rises on $622 mln buyout deal from Arch Capital ** Westwater Resources Inc WWR.O: up 3.1%
BUZZ-Gains on battery products production plan ** XpresSpa Group Inc XSPA.O: up 1.3%
BUZZ-Up on construction of COVID-19 testing facility at Boston airport ** Eli Lilly & Co LLY.N: up 1.2%
BUZZ-Up after rival Pfizer's breast cancer drug fails late-stage study ** OPKO Health Inc OPK.O: up 3.2%
BUZZ-Up on launching COVID-19 testing program for NYC schools ** Rigel Pharmaceuticals Inc RIGL.O: down 1.5%
BUZZ-Rises as mid-stage trial of COVID-19 drug begins ** Axovant Gene Therapies Ltd AXGT.O: up 1.4%
BUZZ-Rises on FDA's rare pediatric disease status for gene therapy ** General Electric Co GE.N: up 1.7%
BUZZ-General Electric jumps after GS reinstates 'buy' rating - thefly.com ** Tilray Inc TLRY.O: up 1.5% BUZZ-Cannabis stocks surge further after VP nominee Harris vows to decriminalize pot ** Extreme Networks Inc EXTR.O: up 17.0%
BUZZ-Up after raising revenue forecast ** Selecta Biosciences Inc SELB.O: up 2.6%
BUZZ-Rises on research agreement with IGAN Biosciences ** HCA Healthcare Inc HCA.N: up 2.3%
BUZZ-Rises on upbeat quarterly revenue forecast ** NXP Semiconductors NV NXPI.O: up 3.5%
BUZZ-Rises as co hikes quarterly revenue forecast
The 11 major S&P 500 sectors:
Communication Services
.SPLRCL
up 0.61%
Consumer Discretionary
.SPLRCD
up 0.82%
Consumer Staples
.SPLRCS
up 0.50%
Energy
.SPNY
down 1.27%
Financial
.SPSY
down 0.37%
Health
.SPXHC
up 0.57%
Industrial
.SPLRCI
up 0.28%
Information Technology
.SPLRCT
up 0.94%
Materials
.SPLRCM
up 0.46%
Real Estate
.SPLRCR
down 0.48%
Utilities
.SPLRCU
down 0.45%
(Compiled by Shradha Singh in Bangalore)
((Shradha.singh@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.
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Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's main indexes opened higher on Friday, setting up the S&P 500 and the Dow for their second straight weekly gain on hopes of more federal fiscal aid and growing expectations of a Democratic victory in next month's presidential election. The top three S&P 500 .PG.INX percentage gainers: ** Xilinx Inc , up 11.6% ** Teradyne Inc , up 4.1% ** Ebay Inc , up 4% The top three S&P 500 .PL.INX percentage losers: ** Vontier Corp , down 13.3% ** Apache Corp , down 3.6% ** Martin Marietta Materials Inc , down 3.1% The top three NYSE .PG.N percentage gainers: ** Just Energy Group , up 45.9% ** WisdomTree Emerging Markets ESG Fund , up 38.1% ** Independence Contract Drilling Inc , up 17% The top three NYSE .PL.N percentage losers: ** Universal Security Instruments Inc, down 13.5% ** Vontier Corp , down 13.3 % ** AgeX Therapeutics Inc , down 11 % The top three Nasdaq .PG.O percentage gainers: ** VivoPower International PLC , up 46.6% ** Precigen Inc , up 29.9% ** SpartanNash Co , up 24% The top three Nasdaq .PL.O percentage losers: ** ShiftPixy Inc , down 24.5% ** Intrusion Inc , down 16.1% ** GeoVax Labs Inc , down 12.3% ** Mallinckrodt PLC MNK.N: down 20.6% BUZZ-: Down after report says co's bankruptcy to give control over to bondholders ** VivoPower International PLC VVPR.O: up 46.6% BUZZ-Gains on finalizing EV maker acquisition ** Xilinx Inc XLNX.O: up 11.6% ** Advanced Micro Devices Inc AMD.O: down 3.1% BUZZ-Xilinx soars on report of $30 bln buyout deal from AMD ** Coupa Software Inc COUP.O: up 4.1% BUZZ-Deutsche Bank starts coverage of Coupa Software with 'buy' ** Watford Holdings Ltd WTRE.O: up 6.9% BUZZ-Rises on $622 mln buyout deal from Arch Capital ** Westwater Resources Inc WWR.O: up 3.1% BUZZ-Gains on battery products production plan ** XpresSpa Group Inc XSPA.O: up 1.3% BUZZ-Up on construction of COVID-19 testing facility at Boston airport ** Eli Lilly & Co LLY.N: up 1.2% BUZZ-Up after rival Pfizer's breast cancer drug fails late-stage study ** OPKO Health Inc OPK.O: up 3.2% BUZZ-Up on launching COVID-19 testing program for NYC schools ** Rigel Pharmaceuticals Inc RIGL.O: down 1.5% BUZZ-Rises as mid-stage trial of COVID-19 drug begins ** Axovant Gene Therapies Ltd AXGT.O: up 1.4% BUZZ-Rises on FDA's rare pediatric disease status for gene therapy ** General Electric Co GE.N: up 1.7% BUZZ-General Electric jumps after GS reinstates 'buy' rating - thefly.com ** Tilray Inc TLRY.O: up 1.5% BUZZ-Cannabis stocks surge further after VP nominee Harris vows to decriminalize pot ** Extreme Networks Inc EXTR.O: up 17.0% BUZZ-Up after raising revenue forecast ** Selecta Biosciences Inc SELB.O: up 2.6% BUZZ-Rises on research agreement with IGAN Biosciences ** HCA Healthcare Inc HCA.N: up 2.3% BUZZ-Rises on upbeat quarterly revenue forecast ** NXP Semiconductors NV NXPI.O: up 3.5% BUZZ-Rises as co hikes quarterly revenue forecast The 11 major S&P 500 sectors: Communication Services down 0.45% (Compiled by Shradha Singh in Bangalore) ((Shradha.singh@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.
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Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's main indexes opened higher on Friday, setting up the S&P 500 and the Dow for their second straight weekly gain on hopes of more federal fiscal aid and growing expectations of a Democratic victory in next month's presidential election. .N At 10:45 ET, the Dow Jones Industrial Average .DJI was up 0.26% at 28,500.35. The top three S&P 500 .PG.INX percentage gainers: ** Xilinx Inc , up 11.6% ** Teradyne Inc , up 4.1% ** Ebay Inc , up 4% The top three S&P 500 .PL.INX percentage losers: ** Vontier Corp , down 13.3% ** Apache Corp , down 3.6% ** Martin Marietta Materials Inc , down 3.1% The top three NYSE .PG.N percentage gainers: ** Just Energy Group , up 45.9% ** WisdomTree Emerging Markets ESG Fund , up 38.1% ** Independence Contract Drilling Inc , up 17% The top three NYSE .PL.N percentage losers: ** Universal Security Instruments Inc, down 13.5% ** Vontier Corp , down 13.3 % ** AgeX Therapeutics Inc , down 11 % The top three Nasdaq .PG.O percentage gainers: ** VivoPower International PLC , up 46.6% ** Precigen Inc , up 29.9% ** SpartanNash Co , up 24% The top three Nasdaq .PL.O percentage losers: ** ShiftPixy Inc , down 24.5% ** Intrusion Inc , down 16.1% ** GeoVax Labs Inc , down 12.3% ** Mallinckrodt PLC MNK.N: down 20.6% BUZZ-: Down after report says co's bankruptcy to give control over to bondholders ** VivoPower International PLC VVPR.O: up 46.6% BUZZ-Gains on finalizing EV maker acquisition ** Xilinx Inc XLNX.O: up 11.6% ** Advanced Micro Devices Inc AMD.O: down 3.1% BUZZ-Xilinx soars on report of $30 bln buyout deal from AMD ** Coupa Software Inc COUP.O: up 4.1% BUZZ-Deutsche Bank starts coverage of Coupa Software with 'buy' ** Watford Holdings Ltd WTRE.O: up 6.9% BUZZ-Rises on $622 mln buyout deal from Arch Capital ** Westwater Resources Inc WWR.O: up 3.1% BUZZ-Gains on battery products production plan ** XpresSpa Group Inc XSPA.O: up 1.3% BUZZ-Up on construction of COVID-19 testing facility at Boston airport ** Eli Lilly & Co LLY.N: up 1.2% BUZZ-Up after rival Pfizer's breast cancer drug fails late-stage study ** OPKO Health Inc OPK.O: up 3.2% BUZZ-Up on launching COVID-19 testing program for NYC schools ** Rigel Pharmaceuticals Inc RIGL.O: down 1.5% BUZZ-Rises as mid-stage trial of COVID-19 drug begins ** Axovant Gene Therapies Ltd AXGT.O: up 1.4% BUZZ-Rises on FDA's rare pediatric disease status for gene therapy ** General Electric Co GE.N: up 1.7% BUZZ-General Electric jumps after GS reinstates 'buy' rating - thefly.com ** Tilray Inc TLRY.O: up 1.5% BUZZ-Cannabis stocks surge further after VP nominee Harris vows to decriminalize pot ** Extreme Networks Inc EXTR.O: up 17.0% BUZZ-Up after raising revenue forecast ** Selecta Biosciences Inc SELB.O: up 2.6% BUZZ-Rises on research agreement with IGAN Biosciences ** HCA Healthcare Inc HCA.N: up 2.3% BUZZ-Rises on upbeat quarterly revenue forecast ** NXP Semiconductors NV NXPI.O: up 3.5% BUZZ-Rises as co hikes quarterly revenue forecast The 11 major S&P 500 sectors: Communication Services
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Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's main indexes opened higher on Friday, setting up the S&P 500 and the Dow for their second straight weekly gain on hopes of more federal fiscal aid and growing expectations of a Democratic victory in next month's presidential election. The top three S&P 500 .PG.INX percentage gainers: ** Xilinx Inc , up 11.6% ** Teradyne Inc , up 4.1% ** Ebay Inc , up 4% The top three S&P 500 .PL.INX percentage losers: ** Vontier Corp , down 13.3% ** Apache Corp , down 3.6% ** Martin Marietta Materials Inc , down 3.1% The top three NYSE .PG.N percentage gainers: ** Just Energy Group , up 45.9% ** WisdomTree Emerging Markets ESG Fund , up 38.1% ** Independence Contract Drilling Inc , up 17% The top three NYSE .PL.N percentage losers: ** Universal Security Instruments Inc, down 13.5% ** Vontier Corp , down 13.3 % ** AgeX Therapeutics Inc , down 11 % The top three Nasdaq .PG.O percentage gainers: ** VivoPower International PLC , up 46.6% ** Precigen Inc , up 29.9% ** SpartanNash Co , up 24% The top three Nasdaq .PL.O percentage losers: ** ShiftPixy Inc , down 24.5% ** Intrusion Inc , down 16.1% ** GeoVax Labs Inc , down 12.3% ** Mallinckrodt PLC MNK.N: down 20.6% BUZZ-: Down after report says co's bankruptcy to give control over to bondholders ** VivoPower International PLC VVPR.O: up 46.6% BUZZ-Gains on finalizing EV maker acquisition ** Xilinx Inc XLNX.O: up 11.6% ** Advanced Micro Devices Inc AMD.O: down 3.1% BUZZ-Xilinx soars on report of $30 bln buyout deal from AMD ** Coupa Software Inc COUP.O: up 4.1% BUZZ-Deutsche Bank starts coverage of Coupa Software with 'buy' ** Watford Holdings Ltd WTRE.O: up 6.9% BUZZ-Rises on $622 mln buyout deal from Arch Capital ** Westwater Resources Inc WWR.O: up 3.1% BUZZ-Gains on battery products production plan ** XpresSpa Group Inc XSPA.O: up 1.3% BUZZ-Up on construction of COVID-19 testing facility at Boston airport ** Eli Lilly & Co LLY.N: up 1.2% BUZZ-Up after rival Pfizer's breast cancer drug fails late-stage study ** OPKO Health Inc OPK.O: up 3.2% BUZZ-Up on launching COVID-19 testing program for NYC schools ** Rigel Pharmaceuticals Inc RIGL.O: down 1.5% BUZZ-Rises as mid-stage trial of COVID-19 drug begins ** Axovant Gene Therapies Ltd AXGT.O: up 1.4% BUZZ-Rises on FDA's rare pediatric disease status for gene therapy ** General Electric Co GE.N: up 1.7% BUZZ-General Electric jumps after GS reinstates 'buy' rating - thefly.com ** Tilray Inc TLRY.O: up 1.5% BUZZ-Cannabis stocks surge further after VP nominee Harris vows to decriminalize pot ** Extreme Networks Inc EXTR.O: up 17.0% BUZZ-Up after raising revenue forecast ** Selecta Biosciences Inc SELB.O: up 2.6% BUZZ-Rises on research agreement with IGAN Biosciences ** HCA Healthcare Inc HCA.N: up 2.3% BUZZ-Rises on upbeat quarterly revenue forecast ** NXP Semiconductors NV NXPI.O: up 3.5% BUZZ-Rises as co hikes quarterly revenue forecast The 11 major S&P 500 sectors: Communication Services up 0.61% Consumer Discretionary
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Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's main indexes opened higher on Friday, setting up the S&P 500 and the Dow for their second straight weekly gain on hopes of more federal fiscal aid and growing expectations of a Democratic victory in next month's presidential election. .N At 10:45 ET, the Dow Jones Industrial Average .DJI was up 0.26% at 28,500.35. The S&P 500 .SPX was up 0.36% at 3,459.23 and the Nasdaq Composite .IXIC was up 0.89% at 11,522.699.
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cac441df-e868-4cdb-8f22-a119b3eab7d4
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1121.0
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2020-09-24 00:00:00 UTC
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Alcoa’s Stock Up 125% In 6 Months; Upside Still Remains
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AA
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https://www.nasdaq.com/articles/alcoas-stock-up-125-in-6-months-upside-still-remains-2020-09-24
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nan
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nan
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Despite a formidable rise of 125% since the March lows of this year, at the current price of around $12 per share, Alcoa stock (NYSE: AA) has still not reached its near-term potential. Alcoaâs stock has rallied from $5.48 to $12.30 off the recent bottom compared to the S&P which increased 47% during the same period. The stock was able to beat the broader market in the last 6 months as aluminum prices rebounded and started to rise since April following the US government announcing a string of measures along with stimulus packages announced in other economies to keep businesses afloat. Also, with the Chinese economy opening up, the market is expecting a rise in aluminum demand.
With the stock still about 25% lower than its pre-Covid peak (February 2020), we believe that the stock has an upside of more than 15% from its current level. Our dashboard What Factors Drove -77% Change In Alcoa Stock Between 2017 And Now? provides the number behind our thinking.
Some of the stock price decline between 2017-2019 was justified by more than a 10% decrease in Alcoa revenues during this period. Its operations turned loss-making in 2019. While Alcoaâs revenue declined in 2019 and has reached below its 2017 level, the P/S (price-to-sales) multiple has seen a continuous decline over the years as the stock price also declined.
Alcoaâs P/S multiple dropped from 0.9x in 2017 to 0.4x in 2019. The multiple dropped sharply in 2020 following the outbreak of the pandemic which led to a decline in aluminum prices. The multiple currently stands at 0.2x. We believe that the companyâs P/S multiple has the potential to rise to over 0.25x in the near-term as aluminum prices move up following the gradual lifting of lockdowns. This is likely to lead to an uptick in stock price as the crisis abates.
Trigger for Upside?
As increasing number of steel players are shedding capacity, with demand from automobiles being modest, China has increased its exports of semi products at a lower price. This has led to a decline in the price of primary aluminum products worldwide. To add to this, the global spread of coronavirus led to lockdown in various cities across the globe, which affected industrial and economic activity. The aluminum demand from industry players affects global aluminum price levels, in turn impacting the companyâs price realization for its products. Lower demand from construction and automobile players, has led to a drop in global aluminum prices from $1,820/ton in January 2020 to $1,570/ton in June 2020. This was reflected in the Q2 2020 results where Alcoaâs revenues decreased by 21% on a y-o-y basis.
The actual recovery and its timing hinge on the broader containment of the coronavirus spread. Our dashboard Trends In U.S. Covid-19 Cases provides an overview of how the pandemic has been spreading in the U.S. and contrasts with trends in Brazil and Russia. However, with the gradual lifting of lockdowns, the aluminum demand is expected to start picking up soon. This is reflected in the global aluminum price which has increased from $1,570/ton in June 2020 to $1,780/ton in September 2020. Also, as a part of a restructuring, Alcoa has put part of its aluminum assets under review. This is likely to hit the top line adversely in the near term, but margins are likely to improve from 2021 as the company focuses on core assets and operations. Thus, an increase in aluminum prices, the companyâs renewed focus on core operations with expectations of better earnings, and with investorsâ focus having shifted to 2021 numbers, Alcoaâs stock is likely to go up. As per Trefis, Alcoaâs valuation works out to $14 per share, reflecting an upside of more than 15% from its current level.
What if youâre looking for a more balanced portfolio instead? Hereâs a high quality portfolio to beat the market, with over 100% return since 2016, versus 55% for the S&P 500. Comprised of companies with strong revenue growth, healthy profits, lots of cash, and low risk, it has outperformed the broader market year after year, consistently.
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See all Trefis Price Estimates and Download Trefis Data here
Whatâs behind Trefis? See How Itâs Powering New Collaboration and What-Ifs For CFOs and Finance Teams | Product, R&D, and Marketing Teams
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Despite a formidable rise of 125% since the March lows of this year, at the current price of around $12 per share, Alcoa stock (NYSE: AA) has still not reached its near-term potential. To add to this, the global spread of coronavirus led to lockdown in various cities across the globe, which affected industrial and economic activity. This is likely to hit the top line adversely in the near term, but margins are likely to improve from 2021 as the company focuses on core assets and operations.
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Despite a formidable rise of 125% since the March lows of this year, at the current price of around $12 per share, Alcoa stock (NYSE: AA) has still not reached its near-term potential. The aluminum demand from industry players affects global aluminum price levels, in turn impacting the companyâs price realization for its products. Lower demand from construction and automobile players, has led to a drop in global aluminum prices from $1,820/ton in January 2020 to $1,570/ton in June 2020.
|
Despite a formidable rise of 125% since the March lows of this year, at the current price of around $12 per share, Alcoa stock (NYSE: AA) has still not reached its near-term potential. While Alcoaâs revenue declined in 2019 and has reached below its 2017 level, the P/S (price-to-sales) multiple has seen a continuous decline over the years as the stock price also declined. The aluminum demand from industry players affects global aluminum price levels, in turn impacting the companyâs price realization for its products.
|
Despite a formidable rise of 125% since the March lows of this year, at the current price of around $12 per share, Alcoa stock (NYSE: AA) has still not reached its near-term potential. Some of the stock price decline between 2017-2019 was justified by more than a 10% decrease in Alcoa revenues during this period. While Alcoaâs revenue declined in 2019 and has reached below its 2017 level, the P/S (price-to-sales) multiple has seen a continuous decline over the years as the stock price also declined.
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2c0f1e0c-6b23-47a8-a2fd-052c1db04edf
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1122.0
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2020-09-23 00:00:00 UTC
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Alcoa Expands Sustana Line Of Products By Adding Low-carbon EcoSource Alumina - Quick Facts
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AA
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https://www.nasdaq.com/articles/alcoa-expands-sustana-line-of-products-by-adding-low-carbon-ecosource-alumina-quick-facts
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nan
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nan
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(RTTNews) - Alcoa Corp. (AA) announced Wednesday the expansion of its Sustana line of products with the introduction of EcoSource, the industry's first low-carbon, smelter-grade alumina brand.
EcoSource is produced with no more than 0.6 tons of carbon dioxide equivalents (CO2e) per ton of alumina, two times better than the industry's average of 1.2 tons of CO2e. Alcoa's measurement includes direct emissions from its bauxite mining and alumina refining processes and indirect emissions from the energy consumed in those processes.
Alcoa has the world's largest third-party alumina business, and its refining system has the industry's lowest carbon footprint.
The refineries that produce EcoSource alumina have an average carbon emissions profile better than 90 percent of the other alumina refineries operating today.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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(RTTNews) - Alcoa Corp. (AA) announced Wednesday the expansion of its Sustana line of products with the introduction of EcoSource, the industry's first low-carbon, smelter-grade alumina brand. Alcoa's measurement includes direct emissions from its bauxite mining and alumina refining processes and indirect emissions from the energy consumed in those processes. Alcoa has the world's largest third-party alumina business, and its refining system has the industry's lowest carbon footprint.
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(RTTNews) - Alcoa Corp. (AA) announced Wednesday the expansion of its Sustana line of products with the introduction of EcoSource, the industry's first low-carbon, smelter-grade alumina brand. EcoSource is produced with no more than 0.6 tons of carbon dioxide equivalents (CO2e) per ton of alumina, two times better than the industry's average of 1.2 tons of CO2e. Alcoa's measurement includes direct emissions from its bauxite mining and alumina refining processes and indirect emissions from the energy consumed in those processes.
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(RTTNews) - Alcoa Corp. (AA) announced Wednesday the expansion of its Sustana line of products with the introduction of EcoSource, the industry's first low-carbon, smelter-grade alumina brand. EcoSource is produced with no more than 0.6 tons of carbon dioxide equivalents (CO2e) per ton of alumina, two times better than the industry's average of 1.2 tons of CO2e. The refineries that produce EcoSource alumina have an average carbon emissions profile better than 90 percent of the other alumina refineries operating today.
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(RTTNews) - Alcoa Corp. (AA) announced Wednesday the expansion of its Sustana line of products with the introduction of EcoSource, the industry's first low-carbon, smelter-grade alumina brand. EcoSource is produced with no more than 0.6 tons of carbon dioxide equivalents (CO2e) per ton of alumina, two times better than the industry's average of 1.2 tons of CO2e. Alcoa's measurement includes direct emissions from its bauxite mining and alumina refining processes and indirect emissions from the energy consumed in those processes.
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583f9d10-74eb-4ef5-8d13-375ef0a7354b
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1123.0
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2020-09-21 00:00:00 UTC
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Alcoa (AA) Shares Enter Oversold Territory
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AA
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https://www.nasdaq.com/articles/alcoa-aa-shares-enter-oversold-territory-2020-09-21
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nan
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nan
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In trading on Monday, shares of Alcoa Corporation (Symbol: AA) entered into oversold territory, changing hands as low as $12.08 per share. We define oversold territory using the Relative Strength Index, or RSI, which is a technical analysis indicator used to measure momentum on a scale of zero to 100. A stock is considered to be oversold if the RSI reading falls below 30.
In the case of Alcoa Corporation, the RSI reading has hit 27.7 — by comparison, the universe of metals and mining stocks covered by Metals Channel currently has an average RSI of 45.5, the RSI of Spot Gold is at 46.3, and the RSI of Spot Silver is presently 49.6. A bullish investor could look at AA's 27.7 reading as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side.
Looking at a chart of one year performance (below), AA's low point in its 52 week range is $5.16 per share, with $23.465 as the 52 week high point — that compares with a last trade of $12.11. Alcoa Corporation shares are currently trading off about 9.1% on the day.
Click here to find out what 9 other oversold dividend stocks you need to know about »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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A bullish investor could look at AA's 27.7 reading as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side. In trading on Monday, shares of Alcoa Corporation (Symbol: AA) entered into oversold territory, changing hands as low as $12.08 per share. Looking at a chart of one year performance (below), AA's low point in its 52 week range is $5.16 per share, with $23.465 as the 52 week high point — that compares with a last trade of $12.11.
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In trading on Monday, shares of Alcoa Corporation (Symbol: AA) entered into oversold territory, changing hands as low as $12.08 per share. Looking at a chart of one year performance (below), AA's low point in its 52 week range is $5.16 per share, with $23.465 as the 52 week high point — that compares with a last trade of $12.11. A bullish investor could look at AA's 27.7 reading as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side.
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In trading on Monday, shares of Alcoa Corporation (Symbol: AA) entered into oversold territory, changing hands as low as $12.08 per share. Looking at a chart of one year performance (below), AA's low point in its 52 week range is $5.16 per share, with $23.465 as the 52 week high point — that compares with a last trade of $12.11. A bullish investor could look at AA's 27.7 reading as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side.
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In trading on Monday, shares of Alcoa Corporation (Symbol: AA) entered into oversold territory, changing hands as low as $12.08 per share. A bullish investor could look at AA's 27.7 reading as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side. Looking at a chart of one year performance (below), AA's low point in its 52 week range is $5.16 per share, with $23.465 as the 52 week high point — that compares with a last trade of $12.11.
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9a2d767f-13f8-4135-8777-40414f7d90dd
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1124.0
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2020-09-07 00:00:00 UTC
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How Trump Sent Alcoa Stock Soaring 12.5% in August
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AA
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https://www.nasdaq.com/articles/how-trump-sent-alcoa-stock-soaring-12.5-in-august-2020-09-07
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nan
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nan
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What happened
Shares of Alcoa (NYSE: AA) jumped 12.5% in the month of August, according to data provided by S&P Global Market Intelligence, extending their rally from July. While better-than-expected second-quarter numbers lifted the stock higher in July, President Donald Trump set the aluminum giant's shares on fire last month.
So what
On August 6, Trump delivered a speech at a Whirlpool manufacturing plant. The biggest takeaway from his speech was about tariffs. The President decided to slap tariffs on aluminum imports from Canada barely a year after lifting them.
Trump said he had withdrawn the tariffs in return for a promise that Canada would not flood the U.S. with aluminum and kill jobs, but the Canadian government broke its commitment.
Image source: Getty Images.
In a proclamation, Trump stressed that imports of non-alloyed, unwrought aluminum, or unprocessed aluminum in the form of ingots, slabs, and blocks with 99% aluminum content, from Canada surged 87% between June 2019 and May 2020 versus the comparable period, and "exceeded the volume of any full calendar year in the previous decade." The proclamation revealed that Canada is the largest exporter of non-alloyed, unwrought aluminum to the U.S.
This surge in imports from Canada, therefore, compelled Trump to reinstate 10% tariffs to defend the aluminum industry in the U.S. and protect its "national industrial base."
Not surprisingly, Alcoa shares rallied on the news, as tariffs make imported aluminum costlier and domestic aluminum more competitive.
Now what
The tariffs have drawn a mixed response from the U.S. aluminum industry. Century Aluminum Company (NASDAQ: CENX), the largest primary aluminum producer in the U.S., applauded Trump's move.
Alcoa, on the other hand, has been vocal about its dislike for tariffs and believes Trump's move will distort the aluminum industry further. During Alcoa's second-quarter earnings call, management reiterated how it prefers fixing "the root problem," including overcapacity in China.
When all is said and done, there's no denying that Alcoa should also benefit from any tariffs on aluminum imports, which is what investors in the stock are interested in.
10 stocks we like better than Alcoa Inc.
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Neha Chamaria has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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What happened Shares of Alcoa (NYSE: AA) jumped 12.5% in the month of August, according to data provided by S&P Global Market Intelligence, extending their rally from July. While better-than-expected second-quarter numbers lifted the stock higher in July, President Donald Trump set the aluminum giant's shares on fire last month. Trump said he had withdrawn the tariffs in return for a promise that Canada would not flood the U.S. with aluminum and kill jobs, but the Canadian government broke its commitment.
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What happened Shares of Alcoa (NYSE: AA) jumped 12.5% in the month of August, according to data provided by S&P Global Market Intelligence, extending their rally from July. While better-than-expected second-quarter numbers lifted the stock higher in July, President Donald Trump set the aluminum giant's shares on fire last month. In a proclamation, Trump stressed that imports of non-alloyed, unwrought aluminum, or unprocessed aluminum in the form of ingots, slabs, and blocks with 99% aluminum content, from Canada surged 87% between June 2019 and May 2020 versus the comparable period, and "exceeded the volume of any full calendar year in the previous decade."
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What happened Shares of Alcoa (NYSE: AA) jumped 12.5% in the month of August, according to data provided by S&P Global Market Intelligence, extending their rally from July. In a proclamation, Trump stressed that imports of non-alloyed, unwrought aluminum, or unprocessed aluminum in the form of ingots, slabs, and blocks with 99% aluminum content, from Canada surged 87% between June 2019 and May 2020 versus the comparable period, and "exceeded the volume of any full calendar year in the previous decade." Not surprisingly, Alcoa shares rallied on the news, as tariffs make imported aluminum costlier and domestic aluminum more competitive.
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What happened Shares of Alcoa (NYSE: AA) jumped 12.5% in the month of August, according to data provided by S&P Global Market Intelligence, extending their rally from July. The President decided to slap tariffs on aluminum imports from Canada barely a year after lifting them. 10 stocks we like better than Alcoa Inc.
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1353c8f5-bb8b-421b-a930-4ab12df4b525
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1125.0
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2020-08-16 00:00:00 UTC
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COLUMN-Politics trumps aluminium as U.S. reimposes Canadian tariffs: Andy Home
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AA
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https://www.nasdaq.com/articles/column-politics-trumps-aluminium-as-u.s.-reimposes-canadian-tariffs%3A-andy-home-2020-08-16
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nan
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nan
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By Andy Home
LONDON, Aug 14 (Reuters) - The United States will reinstate tariffs on imports of Canadian primary aluminium this weekend.
This is not unexpected despite a ferocious rearguard lobbying campaign by a broad spectrum of U.S. consumers.
Aluminium has been a pillar of the Trump Administration's "America First" trade agenda from the start. Along with steel it was early designated a sector critical for national security, leading to the imposition of 10% tariffs on imports in 2018.
Unfortunately, the pillar is wobbling.
Alcoa AA.N is curtailing its Ferndale smelter in the state of Washington, reducing the number of domestic operating plants to six. Century Aluminum CENX.O, which operates three smelters and has led the lobbying charge against Canadian imports, has just announced a quarterly loss of $26.9m.
Another smelter casualty in a U.S. election year would be a public relations disaster.
However, Canada is being made the scapegoat for market forces determined first and foremost by China, the world's largest producer and exporter of aluminium.
This trade skirmish between Western allies reinforces the sense of missed opportunity in tackling China's growing dominance of the global supply chain.
BATTLE OF THE SURGE
The reimposition of tariffs on Canadian primary unalloyed aluminium is down to what President Trump described as "a surge" of imports since Canada was exempted in May last year.
Pro- and anti-tariff lobbyists have waged statistical war over this apparent "surge".
Canada has historically been the largest supplier of primary aluminium to the U.S. market with volumes fluctuating significantly between 2.00 and 2.50 million tonnes over the last five years.
This historical volatility allows both sides to use the same data to come up with diametrically different conclusions.
But even if there has been a "surge" of imports in recent months, it's been driven by market rather than tariff forces.
Demand imploded in the United States in the first half of 2020 as lockdowns and quarantine measures hit both automotive and aerospace sectors.
Aluminium smelters responded by maintaining throughput but switching production from customer-tailored alloys to "commodity-grade" metal. This can be sold more easily to the merchant market or to the market of last resort, namely the London Metal Exchange (LME).
The last global crisis of 2009 saw huge amounts of metal migrate towards LME warehouses in Detroit.
A similar pattern is emerging this time. Although LME warehouses in Detroit currently hold no warranted metal, aluminium is accumulating in the statistical shadows.
The LME's new report on shadow stocks shows 120,000 tonnes sitting in Detroit at the end of June, up from 67,000 tonnes at the end of March. That's metal that is being stored under contracts referencing LME delivery. There may be still more outside of that reporting net.
There are no LME delivery locations in Canada and it is quite possible that some of the import "surge" has simply been metal heading for exchange storage and financing rather than competing with U.S. production.
It's telling that the Trump Administration has slapped tariffs back only on unalloyed metal, presumably because alloy imports have fallen during the demand meltdown.
US CONSUMERS PAY THE PRICE
The market has been quick to price in the Canadian tariff move.
U.S. consumers pay both the basis LME price and a premium for Midwest delivery. The latter, traded on the CME as an index linked to S&P Global Platts' assessment of the domestic market AUPc1, has surged from 8 cents per lb in May to over 15 cents.
This is pretty much the level identified by analysts at Citi as the required price to incentivise imports to the U.S. domestic market, which remains, tariffs or no tariffs, dependent on flows of both primary aluminium and products. ("The Aluminium Book: A New Era for Aluminium", Aug 2, 2020).
U.S. consumers have to absorb this higher price, whether they buy tariffed or tariff-free metal. They even pay it if they use domestically-sourced scrap, as can manufacturers have discovered to their cost.
This is the way tariffs work. Any producer of any commodity will seek the highest potential price afforded by trade restrictions.
As a grouping of U.S. users ranging from the Beer Institute to the National Association of Trailer Manufacturers noted in a July 20 letter to the White House, "this money goes to the seller, not the Treasury, and payment of the premium is non-negotiable."
NO VIABLE STRATEGY
It's a price worth paying, according to the Coalition for a Prosperous America (CPA), a vocal proponent of Trump's "America First" trade policies.
The CPA concedes that China's huge flow of exports has been the root problem for U.S. producers in recent years but no-one has come up with "a viable strategy for reducing China's oversupply," according to CPA chief economist Jeff Ferry, writing in support of renewed Canadian tariffs.
In truth, though, the United States has missed two prime opportunities to tackle China's over-production.
The previous administration's parting shot on the issue was a full-blooded complaint to the World Trade Organization (WTO), which could have formed the platform for the sort of multilateral pressure that led to China cutting 150 million tonnes of steel production capacity.
However, this administration doesn't do the WTO or anything associated with President Barack Obama.
The second opportunity came from the Commerce Department's landmark January 2018 report finding that aluminium was critical to national security and that import restrictions were needed.
One option suggested was penal tariffs of 23.6% on imports from China, potential transhipment countries Hong Kong and Vietnam, as well as Russia and Venezuela.
The U.S. could have directed its considerable trade firepower at the source of the global oversupply problem.
Rather, President Trump chose the path of blanket tariffs at 10%, rounding up Commerce's suggested 7.7% duty and paving the way for the sort of friendly-fire dispute currently playing out with Canada.
Canada has already vowed to respond in kind to the reimposition of tariffs on its exports, which is how trade restrictions tend to multiply.
Both U.S. and European aluminium sectors are launching ever more anti-dumping cases against specific aluminium products as they play whack-a-mole with Chinese exports.
The European Union has just initiated a probe into imports of Chinese flat-rolled products.
The U.S. Commerce Department last week determined in favour of countervailing duties on imports of alloy sheet from Bahrain, Brazil, India and Turkey. This is product in all likelihood displaced by Chinese exports in other regional markets.
What's missing is a "viable strategy".
A change of administration might just possibly give the United States a third opportunity to tackle China head-on about its aluminium dominance.
But time is running out.
China's huge and still-growing aluminium smelter sector broke another monthly production record in July.
Friend or foe? US reimposes tariffs on Canadian aluminiumhttps://tmsnrt.rs/2YTWhbE
Domestic US aluminium price surges on renewed Canadian tariffshttps://tmsnrt.rs/2Y2p6TJ
(Editing by Jane Merriman)
((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.
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Alcoa AA.N is curtailing its Ferndale smelter in the state of Washington, reducing the number of domestic operating plants to six. As a grouping of U.S. users ranging from the Beer Institute to the National Association of Trailer Manufacturers noted in a July 20 letter to the White House, "this money goes to the seller, not the Treasury, and payment of the premium is non-negotiable." The previous administration's parting shot on the issue was a full-blooded complaint to the World Trade Organization (WTO), which could have formed the platform for the sort of multilateral pressure that led to China cutting 150 million tonnes of steel production capacity.
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Alcoa AA.N is curtailing its Ferndale smelter in the state of Washington, reducing the number of domestic operating plants to six. By Andy Home LONDON, Aug 14 (Reuters) - The United States will reinstate tariffs on imports of Canadian primary aluminium this weekend. The second opportunity came from the Commerce Department's landmark January 2018 report finding that aluminium was critical to national security and that import restrictions were needed.
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Alcoa AA.N is curtailing its Ferndale smelter in the state of Washington, reducing the number of domestic operating plants to six. The reimposition of tariffs on Canadian primary unalloyed aluminium is down to what President Trump described as "a surge" of imports since Canada was exempted in May last year. This is pretty much the level identified by analysts at Citi as the required price to incentivise imports to the U.S. domestic market, which remains, tariffs or no tariffs, dependent on flows of both primary aluminium and products.
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Alcoa AA.N is curtailing its Ferndale smelter in the state of Washington, reducing the number of domestic operating plants to six. By Andy Home LONDON, Aug 14 (Reuters) - The United States will reinstate tariffs on imports of Canadian primary aluminium this weekend. The reimposition of tariffs on Canadian primary unalloyed aluminium is down to what President Trump described as "a surge" of imports since Canada was exempted in May last year.
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66540e9e-70d5-41f3-b2b3-ae3fc8c7a6f1
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1126.0
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2020-08-14 00:00:00 UTC
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COLUMN-Politics trumps aluminium as U.S. reimposes Canadian tariffs: Andy Home
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AA
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https://www.nasdaq.com/articles/column-politics-trumps-aluminium-as-u.s.-reimposes-canadian-tariffs%3A-andy-home-2020-08-14
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nan
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nan
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By Andy Home
LONDON, Aug 14 (Reuters) - The United States will reinstate tariffs on imports of Canadian primary aluminium this weekend.
This is not unexpected despite a ferocious rearguard lobbying campaign by a broad spectrum of U.S. consumers.
Aluminium has been a pillar of the Trump Administration's "America First" trade agenda from the start. Along with steel it was early designated a sector critical for national security, leading to the imposition of 10% tariffs on imports in 2018.
Unfortunately, the pillar is wobbling.
Alcoa AA.N is curtailing its Ferndale smelter in the state of Washington, reducing the number of domestic operating plants to six. Century Aluminum CENX.O, which operates three smelters and has led the lobbying charge against Canadian imports, has just announced a quarterly loss of $26.9m.
Another smelter casualty in a U.S. election year would be a public relations disaster.
However, Canada is being made the scapegoat for market forces determined first and foremost by China, the world's largest producer and exporter of aluminium.
This trade skirmish between Western allies reinforces the sense of missed opportunity in tackling China's growing dominance of the global supply chain.
BATTLE OF THE SURGE
The reimposition of tariffs on Canadian primary unalloyed aluminium is down to what President Trump described as "a surge" of imports since Canada was exempted in May last year.
Pro- and anti-tariff lobbyists have waged statistical war over this apparent "surge".
Canada has historically been the largest supplier of primary aluminium to the U.S. market with volumes fluctuating significantly between 2.00 and 2.50 million tonnes over the last five years.
This historical volatility allows both sides to use the same data to come up with diametrically different conclusions.
But even if there has been a "surge" of imports in recent months, it's been driven by market rather than tariff forces.
Demand imploded in the United States in the first half of 2020 as lockdowns and quarantine measures hit both automotive and aerospace sectors.
Aluminium smelters responded by maintaining throughput but switching production from customer-tailored alloys to "commodity-grade" metal. This can be sold more easily to the merchant market or to the market of last resort, namely the London Metal Exchange (LME).
The last global crisis of 2009 saw huge amounts of metal migrate towards LME warehouses in Detroit.
A similar pattern is emerging this time. Although LME warehouses in Detroit currently hold no warranted metal, aluminium is accumulating in the statistical shadows.
The LME's new report on shadow stocks shows 120,000 tonnes sitting in Detroit at the end of June, up from 67,000 tonnes at the end of March. That's metal that is being stored under contracts referencing LME delivery. There may be still more outside of that reporting net.
There are no LME delivery locations in Canada and it is quite possible that some of the import "surge" has simply been metal heading for exchange storage and financing rather than competing with U.S. production.
It's telling that the Trump Administration has slapped tariffs back only on unalloyed metal, presumably because alloy imports have fallen during the demand meltdown.
US CONSUMERS PAY THE PRICE
The market has been quick to price in the Canadian tariff move.
U.S. consumers pay both the basis LME price and a premium for Midwest delivery. The latter, traded on the CME as an index linked to S&P Global Platts' assessment of the domestic market AUPc1, has surged from 8 cents per lb in May to over 15 cents.
This is pretty much the level identified by analysts at Citi as the required price to incentivise imports to the U.S. domestic market, which remains, tariffs or no tariffs, dependent on flows of both primary aluminium and products. ("The Aluminium Book: A New Era for Aluminium", Aug 2, 2020).
U.S. consumers have to absorb this higher price, whether they buy tariffed or tariff-free metal. They even pay it if they use domestically-sourced scrap, as can manufacturers have discovered to their cost.
This is the way tariffs work. Any producer of any commodity will seek the highest potential price afforded by trade restrictions.
As a grouping of U.S. users ranging from the Beer Institute to the National Association of Trailer Manufacturers noted in a July 20 letter to the White House, "this money goes to the seller, not the Treasury, and payment of the premium is non-negotiable."
NO VIABLE STRATEGY
It's a price worth paying, according to the Coalition for a Prosperous America (CPA), a vocal proponent of Trump's "America First" trade policies.
The CPA concedes that China's huge flow of exports has been the root problem for U.S. producers in recent years but no-one has come up with "a viable strategy for reducing China's oversupply," according to CPA chief economist Jeff Ferry, writing in support of renewed Canadian tariffs.
In truth, though, the United States has missed two prime opportunities to tackle China's over-production.
The previous administration's parting shot on the issue was a full-blooded complaint to the World Trade Organization (WTO), which could have formed the platform for the sort of multilateral pressure that led to China cutting 150 million tonnes of steel production capacity.
However, this administration doesn't do the WTO or anything associated with President Barack Obama.
The second opportunity came from the Commerce Department's landmark January 2018 report finding that aluminium was critical to national security and that import restrictions were needed.
One option suggested was penal tariffs of 23.6% on imports from China, potential transhipment countries Hong Kong and Vietnam, as well as Russia and Venezuela.
The U.S. could have directed its considerable trade firepower at the source of the global oversupply problem.
Rather, President Trump chose the path of blanket tariffs at 10%, rounding up Commerce's suggested 7.7% duty and paving the way for the sort of friendly-fire dispute currently playing out with Canada.
Canada has already vowed to respond in kind to the reimposition of tariffs on its exports, which is how trade restrictions tend to multiply.
Both U.S. and European aluminium sectors are launching ever more anti-dumping cases against specific aluminium products as they play whack-a-mole with Chinese exports.
The European Union has just initiated a probe into imports of Chinese flat-rolled products.
The U.S. Commerce Department last week determined in favour of countervailing duties on imports of alloy sheet from Bahrain, Brazil, India and Turkey. This is product in all likelihood displaced by Chinese exports in other regional markets.
What's missing is a "viable strategy".
A change of administration might just possibly give the United States a third opportunity to tackle China head-on about its aluminium dominance.
But time is running out.
China's huge and still-growing aluminium smelter sector broke another monthly production record in July.
Friend or foe? US reimposes tariffs on Canadian aluminiumhttps://tmsnrt.rs/2YTWhbE
Domestic US aluminium price surges on renewed Canadian tariffshttps://tmsnrt.rs/2Y2p6TJ
(Editing by Jane Merriman)
((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 is curtailing its Ferndale smelter in the state of Washington, reducing the number of domestic operating plants to six. As a grouping of U.S. users ranging from the Beer Institute to the National Association of Trailer Manufacturers noted in a July 20 letter to the White House, "this money goes to the seller, not the Treasury, and payment of the premium is non-negotiable." The previous administration's parting shot on the issue was a full-blooded complaint to the World Trade Organization (WTO), which could have formed the platform for the sort of multilateral pressure that led to China cutting 150 million tonnes of steel production capacity.
|
Alcoa AA.N is curtailing its Ferndale smelter in the state of Washington, reducing the number of domestic operating plants to six. By Andy Home LONDON, Aug 14 (Reuters) - The United States will reinstate tariffs on imports of Canadian primary aluminium this weekend. The second opportunity came from the Commerce Department's landmark January 2018 report finding that aluminium was critical to national security and that import restrictions were needed.
|
Alcoa AA.N is curtailing its Ferndale smelter in the state of Washington, reducing the number of domestic operating plants to six. The reimposition of tariffs on Canadian primary unalloyed aluminium is down to what President Trump described as "a surge" of imports since Canada was exempted in May last year. This is pretty much the level identified by analysts at Citi as the required price to incentivise imports to the U.S. domestic market, which remains, tariffs or no tariffs, dependent on flows of both primary aluminium and products.
|
Alcoa AA.N is curtailing its Ferndale smelter in the state of Washington, reducing the number of domestic operating plants to six. By Andy Home LONDON, Aug 14 (Reuters) - The United States will reinstate tariffs on imports of Canadian primary aluminium this weekend. The reimposition of tariffs on Canadian primary unalloyed aluminium is down to what President Trump described as "a surge" of imports since Canada was exempted in May last year.
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7f321d76-beb3-4c47-bfc9-dccb31eeab0b
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1127.0
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2020-08-13 00:00:00 UTC
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Interesting AA Put And Call Options For October 2nd
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AA
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https://www.nasdaq.com/articles/interesting-aa-put-and-call-options-for-october-2nd-2020-08-13
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nan
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nan
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Investors in Alcoa Corporation (Symbol: AA) saw new options become available today, for the October 2nd expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the AA options chain for the new October 2nd contracts and identified one put and one call contract of particular interest.
The put contract at the $13.00 strike price has a current bid of 27 cents. If an investor was to sell-to-open that put contract, they are committing to purchase the stock at $13.00, but will also collect the premium, putting the cost basis of the shares at $12.73 (before broker commissions). To an investor already interested in purchasing shares of AA, that could represent an attractive alternative to paying $14.81/share today.
Because the $13.00 strike represents an approximate 12% discount to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the put contract would expire worthless. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 100%. Stock Options Channel will track those odds over time to see how they change, publishing a chart of those numbers on our website under the contract detail page for this contract. Should the contract expire worthless, the premium would represent a 2.08% return on the cash commitment, or 15.16% annualized — at Stock Options Channel we call this the YieldBoost.
Below is a chart showing the trailing twelve month trading history for Alcoa Corporation, and highlighting in green where the $13.00 strike is located relative to that history:
Turning to the calls side of the option chain, the call contract at the $17.50 strike price has a current bid of 12 cents. If an investor was to purchase shares of AA stock at the current price level of $14.81/share, and then sell-to-open that call contract as a "covered call," they are committing to sell the stock at $17.50. Considering the call seller will also collect the premium, that would drive a total return (excluding dividends, if any) of 18.97% if the stock gets called away at the October 2nd expiration (before broker commissions). Of course, a lot of upside could potentially be left on the table if AA shares really soar, which is why looking at the trailing twelve month trading history for Alcoa Corporation, as well as studying the business fundamentals becomes important. Below is a chart showing AA's trailing twelve month trading history, with the $17.50 strike highlighted in red:
Considering the fact that the $17.50 strike represents an approximate 18% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 99%. On our website under the contract detail page for this contract, Stock Options Channel will track those odds over time to see how they change and publish a chart of those numbers (the trading history of the option contract will also be charted). Should the covered call contract expire worthless, the premium would represent a 0.81% boost of extra return to the investor, or 5.91% annualized, which we refer to as the YieldBoost.
Meanwhile, we calculate the actual trailing twelve month volatility (considering the last 252 trading day closing values as well as today's price of $14.81) to be 79%. For more put and call options contract ideas worth looking at, visit StockOptionsChannel.com.
Top YieldBoost Calls of the S&P 500 »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Of course, a lot of upside could potentially be left on the table if AA shares really soar, which is why looking at the trailing twelve month trading history for Alcoa Corporation, as well as studying the business fundamentals becomes important. Below is a chart showing AA's trailing twelve month trading history, with the $17.50 strike highlighted in red: Considering the fact that the $17.50 strike represents an approximate 18% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in Alcoa Corporation (Symbol: AA) saw new options become available today, for the October 2nd expiration.
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Below is a chart showing AA's trailing twelve month trading history, with the $17.50 strike highlighted in red: Considering the fact that the $17.50 strike represents an approximate 18% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in Alcoa Corporation (Symbol: AA) saw new options become available today, for the October 2nd expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the AA options chain for the new October 2nd contracts and identified one put and one call contract of particular interest.
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Below is a chart showing AA's trailing twelve month trading history, with the $17.50 strike highlighted in red: Considering the fact that the $17.50 strike represents an approximate 18% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in Alcoa Corporation (Symbol: AA) saw new options become available today, for the October 2nd expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the AA options chain for the new October 2nd contracts and identified one put and one call contract of particular interest.
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Below is a chart showing AA's trailing twelve month trading history, with the $17.50 strike highlighted in red: Considering the fact that the $17.50 strike represents an approximate 18% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in Alcoa Corporation (Symbol: AA) saw new options become available today, for the October 2nd expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the AA options chain for the new October 2nd contracts and identified one put and one call contract of particular interest.
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af5167b4-7953-4557-a4fb-9afe658852a7
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1128.0
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2020-08-12 00:00:00 UTC
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Aluminium sector struggles to adopt common standards to cut emissions
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AA
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https://www.nasdaq.com/articles/aluminium-sector-struggles-to-adopt-common-standards-to-cut-emissions-2020-08-12
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nan
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nan
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By Eric Onstad
LONDON, Aug 12 (Reuters) - The aluminium industry, one of the metals sector's largest emitters of greenhouse gas, is struggling to adopt common standards on greener processing as rivals focus on promoting their own products rather than the wider green market.
Multiple initiatives are seeking to set low-carbon benchmarks as rivals fight for market share in a sector burdened by big surpluses.
Aluminium, which requires huge amounts of power to smelt, is one of the most carbon-intensive metals, emitting an average of 16.5 tonnes of CO2 per tonne of production. In contrast steel processing, while a much bigger polluter overall, emits just 2.3 tonnes per tonne.
Most large aluminium groups have launched products with lower-carbon footprints, mostly using hydro power, but each uses different standards.
UK-based consultancy the Carbon Trust proposed in June a set of guidelines for labelling aluminium as low-carbon if its production emits 4 tonnes or less of CO2 per tonne of metal, about 20% of global output.
However the proposals have stalled, partly because the research was funded by Russia's EN+ ENPLq.L, which owns aluminium giant Rusal 0486.HK. Other producers are reluctant to adopt proposals funded by a rival.
"There's the suggestion that it is being used as part of a campaign to create a benchmark for their products," an industry source said.
The Carbon Trust said that while the report was funded with support from EN+, the contents are its own independent views.
Elsewhere the Aluminium Stewardship Initiative certifies operations as sustainable using criteria including transparency regarding greenhouse gases.
U.S.-based consultancy Harbor Aluminum, which last October launched an green aluminium premium assessment, plans to launch an informal consultation on standard labelling, its managing director told Reuters.
But Harbor's premium has been stuck at zero since it was launched, he added, as buyers baulk at paying extra for greener material despite pressure to address emissions throughout their supply chains.
Carbon distribution footprint of world primary aluminium smeltershttps://tmsnrt.rs/2PNi4h4
(Reporting by Eric Onstad; Editing by Jan Harvey)
((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, Aug 12 (Reuters) - The aluminium industry, one of the metals sector's largest emitters of greenhouse gas, is struggling to adopt common standards on greener processing as rivals focus on promoting their own products rather than the wider green market. Multiple initiatives are seeking to set low-carbon benchmarks as rivals fight for market share in a sector burdened by big surpluses. But Harbor's premium has been stuck at zero since it was launched, he added, as buyers baulk at paying extra for greener material despite pressure to address emissions throughout their supply chains.
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By Eric Onstad LONDON, Aug 12 (Reuters) - The aluminium industry, one of the metals sector's largest emitters of greenhouse gas, is struggling to adopt common standards on greener processing as rivals focus on promoting their own products rather than the wider green market. UK-based consultancy the Carbon Trust proposed in June a set of guidelines for labelling aluminium as low-carbon if its production emits 4 tonnes or less of CO2 per tonne of metal, about 20% of global output. U.S.-based consultancy Harbor Aluminum, which last October launched an green aluminium premium assessment, plans to launch an informal consultation on standard labelling, its managing director told Reuters.
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By Eric Onstad LONDON, Aug 12 (Reuters) - The aluminium industry, one of the metals sector's largest emitters of greenhouse gas, is struggling to adopt common standards on greener processing as rivals focus on promoting their own products rather than the wider green market. UK-based consultancy the Carbon Trust proposed in June a set of guidelines for labelling aluminium as low-carbon if its production emits 4 tonnes or less of CO2 per tonne of metal, about 20% of global output. U.S.-based consultancy Harbor Aluminum, which last October launched an green aluminium premium assessment, plans to launch an informal consultation on standard labelling, its managing director told Reuters.
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UK-based consultancy the Carbon Trust proposed in June a set of guidelines for labelling aluminium as low-carbon if its production emits 4 tonnes or less of CO2 per tonne of metal, about 20% of global output. Other producers are reluctant to adopt proposals funded by a rival. U.S.-based consultancy Harbor Aluminum, which last October launched an green aluminium premium assessment, plans to launch an informal consultation on standard labelling, its managing director told Reuters.
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db684d98-d8d5-4149-8f9c-8b64629c222f
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1129.0
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2020-08-10 00:00:00 UTC
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Why Alcoa Stock Rose Today, But Shopify and Zoom Video Shares Dropped
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AA
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https://www.nasdaq.com/articles/why-alcoa-stock-rose-today-but-shopify-and-zoom-video-shares-dropped-2020-08-10
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nan
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nan
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What happened
The Dow Jones index of blue chip industrial stocks climbed 1.3% on Monday while the tech heavy Nasdaq slumped 0.4%. Illustrative of what is happening:
Shares of tech stars Shopify (NYSE: SHOP) and Zoom Video Communications (NASDAQ: ZM) dropped 4.5% and 3.4%, respectively, but industrial stalwart Alcoa (NYSE: AA) climbed to close 6.1% higher.
Image source: Getty Images.
So what
According to MarketWatch, there's a rotation underway, as investors sell off high-growth companies deemed to be tech stocks, which have run up significantly since the market plumbed its lows in March, and instead shift their money into cyclical companies like Alcoa, which haven't yet managed to return to their highs before the COVID-19 sell-off.
But that's more of an observation than an explanation, telling you what is happening but not why.
Now what
The reason Alcoa is moving higher, I suspect, has little to do with investors deciding that all of a sudden, the U.S. economy is going to shift into high gear, causing cyclical industrial stocks to outperform go-go tech stocks. With 30 million workers still unemployed, and 5 million Americans having contracted COVID-19, I honestly don't see an industrial boom in the making here.
Rather, I suspect Alcoa's stock-price surge has everything to do with President Trump's threat, made late last week, to reimpose 10% tariffs on certain Canadian aluminum imports. While not everyone in the metals industry is on board with the plan, the simple fact is that, when tariffs make imported aluminum more expensive, they give domestic producers more leeway to raise their own prices without risk of being underpriced by foreign competition.
So much for Alcoa. More tariffs equals more profit: Thar's pretty clear. But what about Shopify and Zoom, the tech stocks that are getting sold off?
Here, MarketWatch's rotation theory may actually have more merit. There doesn't seem to be any actual news dragging these stocks down today. But over the weekend, Barron's magazine called out Shopify and Zoom as two particular examples of special exuberance among tech investors (irrational or otherwise), highlighting their extremely rich valuations of 50 times forward sales (Shopify) and 40 times forward sales (Zoom).
When you consider that Shopify still isn't profitable, while Zoom is only barely so (earning just $0.17 per each $250-priced share last quarter), those valuations look pretty scary.
Maybe even scary enough to frighten a few investors into selling today.
10 stocks we like better than Alcoa Inc.
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Rich Smith has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Shopify and Zoom Video Communications and recommends the following options: short August 2020 $130 calls on Zoom Video Communications. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Illustrative of what is happening: Shares of tech stars Shopify (NYSE: SHOP) and Zoom Video Communications (NASDAQ: ZM) dropped 4.5% and 3.4%, respectively, but industrial stalwart Alcoa (NYSE: AA) climbed to close 6.1% higher. What happened The Dow Jones index of blue chip industrial stocks climbed 1.3% on Monday while the tech heavy Nasdaq slumped 0.4%. Rather, I suspect Alcoa's stock-price surge has everything to do with President Trump's threat, made late last week, to reimpose 10% tariffs on certain Canadian aluminum imports.
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Illustrative of what is happening: Shares of tech stars Shopify (NYSE: SHOP) and Zoom Video Communications (NASDAQ: ZM) dropped 4.5% and 3.4%, respectively, but industrial stalwart Alcoa (NYSE: AA) climbed to close 6.1% higher. But over the weekend, Barron's magazine called out Shopify and Zoom as two particular examples of special exuberance among tech investors (irrational or otherwise), highlighting their extremely rich valuations of 50 times forward sales (Shopify) and 40 times forward sales (Zoom). The Motley Fool owns shares of and recommends Shopify and Zoom Video Communications and recommends the following options: short August 2020 $130 calls on Zoom Video Communications.
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Illustrative of what is happening: Shares of tech stars Shopify (NYSE: SHOP) and Zoom Video Communications (NASDAQ: ZM) dropped 4.5% and 3.4%, respectively, but industrial stalwart Alcoa (NYSE: AA) climbed to close 6.1% higher. So what According to MarketWatch, there's a rotation underway, as investors sell off high-growth companies deemed to be tech stocks, which have run up significantly since the market plumbed its lows in March, and instead shift their money into cyclical companies like Alcoa, which haven't yet managed to return to their highs before the COVID-19 sell-off. Now what The reason Alcoa is moving higher, I suspect, has little to do with investors deciding that all of a sudden, the U.S. economy is going to shift into high gear, causing cyclical industrial stocks to outperform go-go tech stocks.
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Illustrative of what is happening: Shares of tech stars Shopify (NYSE: SHOP) and Zoom Video Communications (NASDAQ: ZM) dropped 4.5% and 3.4%, respectively, but industrial stalwart Alcoa (NYSE: AA) climbed to close 6.1% higher. So what According to MarketWatch, there's a rotation underway, as investors sell off high-growth companies deemed to be tech stocks, which have run up significantly since the market plumbed its lows in March, and instead shift their money into cyclical companies like Alcoa, which haven't yet managed to return to their highs before the COVID-19 sell-off. When you consider that Shopify still isn't profitable, while Zoom is only barely so (earning just $0.17 per each $250-priced share last quarter), those valuations look pretty scary.
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0636466f-e599-4aba-8123-5b62bb24690a
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1130.0
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2020-08-06 00:00:00 UTC
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Trump reimposes tariffs on raw Canadian aluminum, says needs to defend U.S. industry
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AA
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https://www.nasdaq.com/articles/trump-reimposes-tariffs-on-raw-canadian-aluminum-says-needs-to-defend-u.s.-industry-2020
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nan
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nan
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By Jeff Mason
CLYDE, Ohio, Aug 6 (Reuters) - President Donald Trump on Thursday moved to reimpose 10% tariffs on some Canadian aluminum products to protect U.S. industry from a "surge" in imports, angering Ottawa and some U.S. business groups.
During a wide-ranging speech at a Whirlpool Corp WHR.N washing machine factory in Ohio to tout his "America First" trade agenda, Trump said he signed a proclamation reimposing the "Section 232" national security tariffs. The step was "absolutely necessary to defend our aluminum industry," he said.
The U.S. Trade Representative's office said the 10% tariffs apply to raw, un-alloyed aluminum produced at smelters. The tariffs do not apply to downstream aluminum products.
"Several months ago, my administration agreed to lift those tariffs in return for a promise from the Canadian government that its aluminum industry would not flood our country with exports and kill all our aluminum jobs, which is exactly what they've done," Trump said. "Canadian aluminum producers have broken their commitment."
Canada has a natural advantage in primary aluminum production because of its ample supply of cheap hydroelectric power.
A Canadian government source said Canada will respond by slapping retaliatory tariffs on U.S. goods.
Canada imposed similar tariffs on U.S. goods from bourbon to ketchup when Trump first imposed tariffs on steel and aluminum from Canada and Mexico in March 2018.
The U.S. Chamber of Commerce called the move "a step in the wrong direction" that would raise costs on U.S. companies and consumers.
But Michael Bless, chief executive of Century Aluminum CENX.O, one of the few remaining U.S. primary aluminum smalting companies and which lobbied for bringing back the tariffs, said the move "helps to secure continued domestic production of this vital strategic material and level the playing field for thousands of American aluminum workers."
(Reporting by Jeff Mason, Andrea Shalal and David Lawder; Writing by David Lawder; Editing by Leslie Adler and Tom Brown)
((andrea.shalal@tr.com; +1 202-815-7432;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By Jeff Mason CLYDE, Ohio, Aug 6 (Reuters) - President Donald Trump on Thursday moved to reimpose 10% tariffs on some Canadian aluminum products to protect U.S. industry from a "surge" in imports, angering Ottawa and some U.S. business groups. During a wide-ranging speech at a Whirlpool Corp WHR.N washing machine factory in Ohio to tout his "America First" trade agenda, Trump said he signed a proclamation reimposing the "Section 232" national security tariffs. Canada has a natural advantage in primary aluminum production because of its ample supply of cheap hydroelectric power.
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By Jeff Mason CLYDE, Ohio, Aug 6 (Reuters) - President Donald Trump on Thursday moved to reimpose 10% tariffs on some Canadian aluminum products to protect U.S. industry from a "surge" in imports, angering Ottawa and some U.S. business groups. "Canadian aluminum producers have broken their commitment." (Reporting by Jeff Mason, Andrea Shalal and David Lawder; Writing by David Lawder; Editing by Leslie Adler and Tom Brown) ((andrea.shalal@tr.com; +1 202-815-7432;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By Jeff Mason CLYDE, Ohio, Aug 6 (Reuters) - President Donald Trump on Thursday moved to reimpose 10% tariffs on some Canadian aluminum products to protect U.S. industry from a "surge" in imports, angering Ottawa and some U.S. business groups. "Several months ago, my administration agreed to lift those tariffs in return for a promise from the Canadian government that its aluminum industry would not flood our country with exports and kill all our aluminum jobs, which is exactly what they've done," Trump said. But Michael Bless, chief executive of Century Aluminum CENX.O, one of the few remaining U.S. primary aluminum smalting companies and which lobbied for bringing back the tariffs, said the move "helps to secure continued domestic production of this vital strategic material and level the playing field for thousands of American aluminum workers."
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By Jeff Mason CLYDE, Ohio, Aug 6 (Reuters) - President Donald Trump on Thursday moved to reimpose 10% tariffs on some Canadian aluminum products to protect U.S. industry from a "surge" in imports, angering Ottawa and some U.S. business groups. The U.S. Trade Representative's office said the 10% tariffs apply to raw, un-alloyed aluminum produced at smelters. A Canadian government source said Canada will respond by slapping retaliatory tariffs on U.S. goods.
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318987bc-5db5-41ba-8045-575677d81125
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1131.0
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2020-08-06 00:00:00 UTC
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Alcoa Issues Update On Consultation With San Ciprin Works Council
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AA
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https://www.nasdaq.com/articles/alcoa-issues-update-on-consultation-with-san-ciprin-works-council-2020-08-06
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nan
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nan
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(RTTNews) - Alcoa Corp. (AA) said the last meeting of the formal consultation period for collective dismissal at the San Ciprin aluminum plant in Spain ended without an agreement with the workers' representatives. The company has up to 15 days from the end of the consultation period to announce a decision.
Alcoa and the San Ciprin Works Council have been meeting throughout the formal consultation period, which began on June 25, 2020, to discuss a proposed restructuring. The company said it offered several proposals to the workers' representatives, including an offer to conduct a sales process for the aluminum plant. All offers were rejected.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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(RTTNews) - Alcoa Corp. (AA) said the last meeting of the formal consultation period for collective dismissal at the San Ciprin aluminum plant in Spain ended without an agreement with the workers' representatives. The company has up to 15 days from the end of the consultation period to announce a decision. Alcoa and the San Ciprin Works Council have been meeting throughout the formal consultation period, which began on June 25, 2020, to discuss a proposed restructuring.
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(RTTNews) - Alcoa Corp. (AA) said the last meeting of the formal consultation period for collective dismissal at the San Ciprin aluminum plant in Spain ended without an agreement with the workers' representatives. Alcoa and the San Ciprin Works Council have been meeting throughout the formal consultation period, which began on June 25, 2020, to discuss a proposed restructuring. The company said it offered several proposals to the workers' representatives, including an offer to conduct a sales process for the aluminum plant.
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(RTTNews) - Alcoa Corp. (AA) said the last meeting of the formal consultation period for collective dismissal at the San Ciprin aluminum plant in Spain ended without an agreement with the workers' representatives. Alcoa and the San Ciprin Works Council have been meeting throughout the formal consultation period, which began on June 25, 2020, to discuss a proposed restructuring. The company said it offered several proposals to the workers' representatives, including an offer to conduct a sales process for the aluminum plant.
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(RTTNews) - Alcoa Corp. (AA) said the last meeting of the formal consultation period for collective dismissal at the San Ciprin aluminum plant in Spain ended without an agreement with the workers' representatives. The company said it offered several proposals to the workers' representatives, including an offer to conduct a sales process for the aluminum plant. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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9099dfdc-9c09-438f-a63a-ac4a6bfc5ad8
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1132.0
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2020-08-06 00:00:00 UTC
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Why Alcoa Stock Rallied 15% in July
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AA
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https://www.nasdaq.com/articles/why-alcoa-stock-rallied-15-in-july-2020-08-06
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nan
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nan
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What happened
Shares of Alcoa (NYSE: AA) jumped 15% in July, according to data from S&P Global Market Intelligence. The move higher came in the wake of the aluminum specialist's mid-month second-quarter earnings release.
So what
On the surface, Alcoa's Q2 results weren't all that great. Revenue was down 20% year over year. Adjusted earnings came in at a loss of $0.02 a share, compared to a loss of $0.01 per share in the previous year. Adjusted EBITDA, meanwhile, plunged 59%. It was a pretty bad quarter on an absolute basis.
Image source: Getty Images
But, given the difficult business environment resulting from economic shutdowns due to COVID-19, Alcoa did reasonably well. In fact, analysts had been projecting that the company would post a loss of $0.36 a share. Compared to that expectation, Alcoa did great and investors reacted accordingly. That relatively strong showing was notably helped along by cost-cutting efforts and moves to strengthen the company's balance sheet, among other things.
Now what
It wouldn't be fair to say that Alcoa is firing on all cylinders today, because that's just not true. However, in the second quarter management appears to have done a decent job of limiting the pain that COVID-19 has inflicted upon a great many companies (and the world more broadly). Long-term investors should be pleased by that, of course, but it's important to remember that the hard times aren't yet over.
10 stocks we like better than Alcoa Inc.
When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*
David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Alcoa Inc. wasn't one of them! That's right -- they think these 10 stocks are even better buys.
See the 10 stocks
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Reuben Gregg Brewer has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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What happened Shares of Alcoa (NYSE: AA) jumped 15% in July, according to data from S&P Global Market Intelligence. That relatively strong showing was notably helped along by cost-cutting efforts and moves to strengthen the company's balance sheet, among other things. However, in the second quarter management appears to have done a decent job of limiting the pain that COVID-19 has inflicted upon a great many companies (and the world more broadly).
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What happened Shares of Alcoa (NYSE: AA) jumped 15% in July, according to data from S&P Global Market Intelligence. Adjusted earnings came in at a loss of $0.02 a share, compared to a loss of $0.01 per share in the previous year. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.
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What happened Shares of Alcoa (NYSE: AA) jumped 15% in July, according to data from S&P Global Market Intelligence. Adjusted earnings came in at a loss of $0.02 a share, compared to a loss of $0.01 per share in the previous year. * David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Alcoa Inc. wasn't one of them!
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What happened Shares of Alcoa (NYSE: AA) jumped 15% in July, according to data from S&P Global Market Intelligence. Adjusted earnings came in at a loss of $0.02 a share, compared to a loss of $0.01 per share in the previous year. 10 stocks we like better than Alcoa Inc.
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7e8ab622-b9aa-4241-a040-9e29e9f29956
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1133.0
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2020-08-05 00:00:00 UTC
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S&P 500 Gains 21 Points: Disney and CVS Health Earnings, American Airlines and Boeing Stocks Rally
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AA
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https://www.nasdaq.com/articles/sp-500-gains-21-points%3A-disney-and-cvs-health-earnings-american-airlines-and-boeing-stocks
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nan
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nan
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The S&P 500 Index (SNPINDEX: ^GSPC) gained 21.3 points, or 0.64%, on Aug. 5, as earnings season moves through one of the busiest weeks. So far there have been few big earnings surprises; the second quarter of 2020 saw the U.S. plunge into the deepest recession in history, so the expectations have been relatively low for many companies.
Walt Disney (NYSE: DIS) is an excellent example; only in 2020 could the company report a $4.7 billion loss and see its stock price surge nearly 8% the next trading session. Similarly, optimism abounds for the airline industry. Shares of American Airlines (NYSE: AA) gained 9.5% today, joining the rest of the S&P 500's airlines higher on hopes for another round of federal government support. Aerospace giant Boeing (NYSE: BA) shares were up 5.6% on the day, following good news on its own access to capital.
In other notable news, CVS Health (NYSE: CVS) reported earnings before market open today, delivering solid results and raising full-year guidance, but questions about increased expenses and how its profits will be affected post-COVID-19 had investors selling.
Image source: Getty Images.
Investors see the positive in Disney Earnings
The House of Mouse reported earnings after market close yesterday, announcing a $4.7 billion loss and a 42% drop in revenue. But investors expected that -- Disney's theme parks and many movie theaters have been closed for months due to the coronavirus pandemic -- so the focus was on the company's pivot to streaming services.
Disney+ ended the quarter with almost 58 million subscribers, and by the time of theearnings call CEO Bob Chapek said that number was over 60.5 million. For context as to how wildly successful the streaming service has been, Disney's internal projections called for Disney+ to reach that many subscribers by 2024, not a bad jump on the market. Moreover, when you include Hulu and ESPN+ in the mix, Disney's paid streaming subscriber base is now more than 100 million.
The media giant plans to accelerate its streaming growth. Next up, it's targeting more international markets, announcing plans to expand international streaming under its Star brand in the near future.
American leading airline stocks higher, Boeing rising too
American Airlines led the flock with its 9.5% gain today, but fellow index airline components Alaska Air (NYSE: ALK), Delta Air Lines (NYSE: DAL), Southwest Airlines (NYSE: LUV), and United Airlines (NASDAQ: UAL) gained between 3% and 4.5% today, following news that a group of U.S. Senators are backing a plan to extend $25 billion in additional payroll assistance to airlines.
With the industry on track to furlough nearly one-third of its workforce when the last round of funding expires, investors are, for today at least, feeling hopeful that elected officials will feel the pressure to act in an election year. Barring additional government cash, the industry will have to cut costs -- primarily payroll -- to avoid insolvency as the downturn in air travel continues.
Separately, Boeing shares gained over 5% on the day, following news that the aircraft manufacturing giant has secured enough cash of its own to ride out the downturn. A company executive said the $25 billion in bonds Boeing sold this spring should give it the necessary capital to ride out what is expected to be a multiyear downturn in global aviation.
Boeing entered into the coronavirus pandemic that's crippled the airline industry with plenty of problems, primarily the grounding of the 737 MAX following two deadly crashes. As things stand today, the company is still working to get the 737 MAX recertified for flight, but with the industry still deep in a crisis that has already caused bankruptcies, demand for new aircraft is likely to be muted for several years to come.
CVS Health reports big profit growth, but healthcare costs weigh on future expectations
One of the largest pharmacy and healthcare benefits companies on earth, CVS has seen the COVID-19 pandemic affect its business in multiple ways. The company reported a small decline in front-store (non-pharmacy) retail sales, and relatively flat pharmacy services revenue. But due to the increase in membership in some of its healthcare benefits services, including its Aetna health insurance subsidiary, and lower medical costs with many elective procedures being delayed due to the pandemic, CVS reported a massive increase in profits. Net income was $3 billion, up 58% year over year.
Looking forward, however, those delayed elective procedures will come forward, and investors seem to be expecting CVS Health's earnings growth will be slower going forward.
Earnings up next
Aug. 6 is a busy day for earnings, with more than two dozen S&P 500 companies set to report quarterly results. Notables include Bristol Myers Squibb (NYSE: BMY) and healthcare equipment supplier Becton Dickinson (NYSE: BDX), set to announce before trading opens, while T-Mobile US (NASDAQ: TMUS) and travel giant Booking Holdings (NASDAQ: BKNG) will announce results after market close.
On Friday, Aug. 7, two real estate companies will report, with healthcare property owner Ventas (NYSE: VTR) and retail REIT Kimco Realty (NYSE: KMI) scheduled to release their latest results.
10 stocks we like better than Boeing
When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*
David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Boeing wasn't one of them! That's right -- they think these 10 stocks are even better buys.
See the 10 stocks
*Stock Advisor returns as of June 2, 2020
Jason Hall owns shares of Southwest Airlines and Walt Disney. The Motley Fool owns shares of and recommends Booking Holdings, Bristol Myers Squibb, Kinder Morgan, and Walt Disney. The Motley Fool recommends Alaska Air Group, Becton, Dickinson, CVS Health, Delta Air Lines, Southwest Airlines, and T-Mobile US and recommends the following options: long January 2021 $60 calls on Walt Disney and short October 2020 $125 calls on Walt Disney. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Shares of American Airlines (NYSE: AA) gained 9.5% today, joining the rest of the S&P 500's airlines higher on hopes for another round of federal government support. But investors expected that -- Disney's theme parks and many movie theaters have been closed for months due to the coronavirus pandemic -- so the focus was on the company's pivot to streaming services. Barring additional government cash, the industry will have to cut costs -- primarily payroll -- to avoid insolvency as the downturn in air travel continues.
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Shares of American Airlines (NYSE: AA) gained 9.5% today, joining the rest of the S&P 500's airlines higher on hopes for another round of federal government support. American leading airline stocks higher, Boeing rising too American Airlines led the flock with its 9.5% gain today, but fellow index airline components Alaska Air (NYSE: ALK), Delta Air Lines (NYSE: DAL), Southwest Airlines (NYSE: LUV), and United Airlines (NASDAQ: UAL) gained between 3% and 4.5% today, following news that a group of U.S. Notables include Bristol Myers Squibb (NYSE: BMY) and healthcare equipment supplier Becton Dickinson (NYSE: BDX), set to announce before trading opens, while T-Mobile US (NASDAQ: TMUS) and travel giant Booking Holdings (NASDAQ: BKNG) will announce results after market close.
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Shares of American Airlines (NYSE: AA) gained 9.5% today, joining the rest of the S&P 500's airlines higher on hopes for another round of federal government support. American leading airline stocks higher, Boeing rising too American Airlines led the flock with its 9.5% gain today, but fellow index airline components Alaska Air (NYSE: ALK), Delta Air Lines (NYSE: DAL), Southwest Airlines (NYSE: LUV), and United Airlines (NASDAQ: UAL) gained between 3% and 4.5% today, following news that a group of U.S. Notables include Bristol Myers Squibb (NYSE: BMY) and healthcare equipment supplier Becton Dickinson (NYSE: BDX), set to announce before trading opens, while T-Mobile US (NASDAQ: TMUS) and travel giant Booking Holdings (NASDAQ: BKNG) will announce results after market close.
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Shares of American Airlines (NYSE: AA) gained 9.5% today, joining the rest of the S&P 500's airlines higher on hopes for another round of federal government support. Investors see the positive in Disney Earnings The House of Mouse reported earnings after market close yesterday, announcing a $4.7 billion loss and a 42% drop in revenue. For context as to how wildly successful the streaming service has been, Disney's internal projections called for Disney+ to reach that many subscribers by 2024, not a bad jump on the market.
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2fc15de3-0933-4d01-87b2-409ee25ce15b
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1134.0
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2020-08-05 00:00:00 UTC
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AA Crosses Above Key Moving Average Level
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AA
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https://www.nasdaq.com/articles/aa-crosses-above-key-moving-average-level-2020-08-05
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nan
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nan
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In trading on Wednesday, shares of Alcoa Corporation (Symbol: AA) crossed above their 200 day moving average of $13.94, changing hands as high as $14.79 per share. Alcoa Corporation shares are currently trading up about 7.9% on the day. The chart below shows the one year performance of AA shares, versus its 200 day moving average:
Looking at the chart above, AA's low point in its 52 week range is $5.16 per share, with $23.465 as the 52 week high point — that compares with a last trade of $14.78.
Click here to find out which 9 other stocks recently crossed above their 200 day moving average »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In trading on Wednesday, shares of Alcoa Corporation (Symbol: AA) crossed above their 200 day moving average of $13.94, changing hands as high as $14.79 per share. The chart below shows the one year performance of AA shares, versus its 200 day moving average: Looking at the chart above, AA's low point in its 52 week range is $5.16 per share, with $23.465 as the 52 week high point — that compares with a last trade of $14.78. Click here to find out which 9 other stocks recently crossed above their 200 day moving average » The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In trading on Wednesday, shares of Alcoa Corporation (Symbol: AA) crossed above their 200 day moving average of $13.94, changing hands as high as $14.79 per share. The chart below shows the one year performance of AA shares, versus its 200 day moving average: Looking at the chart above, AA's low point in its 52 week range is $5.16 per share, with $23.465 as the 52 week high point — that compares with a last trade of $14.78. Click here to find out which 9 other stocks recently crossed above their 200 day moving average » The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In trading on Wednesday, shares of Alcoa Corporation (Symbol: AA) crossed above their 200 day moving average of $13.94, changing hands as high as $14.79 per share. The chart below shows the one year performance of AA shares, versus its 200 day moving average: Looking at the chart above, AA's low point in its 52 week range is $5.16 per share, with $23.465 as the 52 week high point — that compares with a last trade of $14.78. Click here to find out which 9 other stocks recently crossed above their 200 day moving average » The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In trading on Wednesday, shares of Alcoa Corporation (Symbol: AA) crossed above their 200 day moving average of $13.94, changing hands as high as $14.79 per share. The chart below shows the one year performance of AA shares, versus its 200 day moving average: Looking at the chart above, AA's low point in its 52 week range is $5.16 per share, with $23.465 as the 52 week high point — that compares with a last trade of $14.78. Alcoa Corporation shares are currently trading up about 7.9% on the day.
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7ee0b924-ca61-4626-9990-4c639a359c89
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1135.0
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2014-04-25 00:00:00 UTC
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Freeport's Q1 Earnings Top, Profit Falls - Analyst Blog
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AA
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https://www.nasdaq.com/articles/freeports-q1-earnings-top-profit-falls-analyst-blog-2014-04-25
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nan
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nan
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Freeport-McMoRan Copper & Gold Inc. ( FCX ) reported earnings of 49 cents per share for first-quarter 2014, a decline of roughly 27.9% from the year ago earnings of 68 cents. Profit fell 21.3% year over year to $510 million, hurt by lower copper and gold pricing.
The results include net non-cash mark-to-market gains of a penny per share associated with crude oil and natural gas derivative contracts. Barring that impact, earnings were 48 cents a share in the first quarter, topping the Zacks Consensus Estimate of 42 cents.
Revenues rose roughly 8.8% year over year to around $4.99 billion in the first quarter, but missed the Zacks Consensus Estimate of $5.12 billion.
Consolidated sales from mines decreased to 871 million pounds of copper in the first quarter from 954 million pounds in the year ago quarter. Sales of gold declined to 187,000 ounces in the reported quarter from 214,000 ounces a year-ago.
Lower copper and gold sales volumes were due to lower volumes from PT Freeport Indonesia (PT-FI) because of the post-January 12, 2014, restrictions on concentrate exports from Indonesia, which resulted in a deferral of roughly 125 million pounds of copper and 140,000 ounces of gold in the reported quarter.
Sales of molybdenum increased to 27 million pounds in the reported quarter from 25 million pounds in the first quarter of 2013.
Operational Update
Consolidated average unit net cash costs (net of by-product credits) decreased to $1.54 per pound of copper in the quarter from $1.57 per pound a year ago.
Average realized price per ounce for gold fell to $1,300 per ounce from $1,606 per ounce a year ago while average realized price per pound for copper declined to $3.14 per pound of copper from $3.51 per pound of copper in the prior-year quarter.
Mining Update
North America Copper Mines: Copper sales at the mine increased 5.1% year over year to 371 million pounds and production rose 12.2% to 385 million pounds in the reported quarter. Sales increased due to higher production at most mines primarily because of higher ore grades. Freeport expects copper production to be 1.7 billion pounds in 2014, up from 1.4 billion in 2013 resulting from higher production from Morenci following the completion of the mill expansion project.
South America Mining: Copper sales of 307 million pounds rose 7.7% from the year ago quarter mainly due to higher mining rates and timing of shipments. Gold sales went up 9.5% to 23,000 ounces. Copper production rose 5.4% to 314 million pounds in the reported quarter and gold production remained at par year over year at 21,000 ounces in the quarter. South America mining is expected to report sales of 1.2 billion pounds of copper in 2014.
Indonesia Mining: Copper sales of 109 million pounds declined 44.9% from the year ago quarter while production decreased 36.1% to 140 million pounds. Gold sales decreased 15.2% to 162,000 ounces and production declined 1.9% year over year to 208,000 ounces in the reported quarter. Both gold and copper sales declined in the quarter due to lower milling rates as a result of the restrictions on concentrate exports from Indonesia.
In Jan 2014, the Indonesian government published regulations providing that holders of contracts of work with existing processing facilities in Indonesia could continue to export product through Jan 12, 2017, but established new requirements for the continued export of copper concentrates, including the imposition of a progressive export duty on copper concentrates in the amount of 25% in 2014, rising to 60% by mid-2016.
Africa Mining: Copper sales of 84 million pounds represent a year over year decline of 28.9%, reflecting timing of shipments and lower grade ore. Production decreased 9.2% to 109 million pounds in the quarter. The sales at the mine are expected to be about 440 million pounds of copper and 30 million pounds of cobalt in 2014.
Molybdenum: Molybdenum production of 13 million pounds in the first quarter was higher than first-quarter 2013 production of 12 million pounds. Weak demand in the metallurgical sector is affecting the business. Freeport will make requisite adjustments to its primary molybdenum production after reviewing the market conditions.
Financial Position
Freeport had cash and cash equivalents of $1,378 million as of Mar 31, 2014, compared with $9,595 million as of Mar 31, 2013. Freeport had long-term debt of $19.8 billion as of Mar 31, 2014, compared with $10.1 billion as of Mar 31, 2013.
Freeport's operating cash flows were $1.2 billion in the first quarter compared with $831 million in the year ago quarter. Capital expenditures totaled $1.6 billion in the reported quarter including $0.7 billion for major projects at mining operations and $0.6 billion for oil and gas operations.
Oil and Gas Operations (FMO&G)
In May and early June of 2013, Freeport completed the acquisitions of Plains and McMoRan Exploration and formed a premier U.S. based natural resource company collectively called FM O&G, and added a high quality portfolio of U.S.-based oil and gas assets to its global mining business.
In the first quarter, realized revenues for oil and gas operations were $1.2 billion ($77.22 per barrels of oil equivalents/BOE). Cash production costs totaled $298 million ($18.51 per BOE) in first-quarter 2014. Sales volume was 16.1 million barrels of oil equivalent (MMBOE) in the quarter, ahead of the company's forecast of 15.3 MMBOE.
Guidance
For 2014, Freeport expects consolidated sales from mines of 4.3 billion pounds of copper, 1.6 million ounces of gold, 97 million pounds of molybdenum and 64.2 MMBOE. The estimates assume resumption of exports from PT-FI beginning in May 2014. Till the time PT-FI is unable to resume exports in May 2014, this would result in a deferral of roughly 50 million pounds of copper and 80 thousand ounces of gold per month.
For the second quarter, the company expects 1.1 billion pounds of copper, 320,000 ounces of gold, 24 million pounds of molybdenum and 15.2 MMBOE. Consolidated unit net cash costs (net of by-product credits) for copper mines are expected to average $1.58 per pound of copper in second-quarter 2014 and $1.41 per pound of copper for 2014.
The impact of price changes for the remainder of 2014 on consolidated unit net cash costs would be roughly $0.017 per pound for each $50 per ounce change in the average price of gold and $0.015 per pound for each $2 per pound change in the average price of molybdenum.
Cash production costs per BOE are expected to be around $19 per BOE for 2014.
For 2014, capital expenditures are expected to be roughly $7 billion, including $3 billion for major projects at mining operations and $3 billion for oil and gas operations.
Freeport aims at reducing debt by the end of 2016 using cash flows generated above capital expenditures and other cash requirements. The company will seek opportunities to accelerate its deleveraging plans through potential asset sales, joint venture transactions or other monetizations and is engaged in discussions with a number of third parties to achieve this objective.
Freeport currently retains a Zacks Rank #3 (Hold).
Other mining companies with favorable Zacks Rank include General Moly, Inc. ( GMO ), North American Palladium Ltd. ( PAL ) and Alcoa Inc. ( AA ). While both General Moly and North American Palladium hold a Zacks Rank #1 (Strong Buy), Alcoa carries a Zacks Rank #2 (Buy).
ALCOA INC (AA): Free Stock Analysis Report
FREEPT MC COP-B (FCX): Free Stock Analysis Report
GENERAL MOLY IN (GMO): Free Stock Analysis Report
NORTH AM PALLAD (PAL): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Other mining companies with favorable Zacks Rank include General Moly, Inc. ( GMO ), North American Palladium Ltd. ( PAL ) and Alcoa Inc. ( AA ). ALCOA INC (AA): Free Stock Analysis Report FREEPT MC COP-B (FCX): Free Stock Analysis Report GENERAL MOLY IN (GMO): Free Stock Analysis Report NORTH AM PALLAD (PAL): Free Stock Analysis Report To read this article on Zacks.com click here. Till the time PT-FI is unable to resume exports in May 2014, this would result in a deferral of roughly 50 million pounds of copper and 80 thousand ounces of gold per month.
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ALCOA INC (AA): Free Stock Analysis Report FREEPT MC COP-B (FCX): Free Stock Analysis Report GENERAL MOLY IN (GMO): Free Stock Analysis Report NORTH AM PALLAD (PAL): Free Stock Analysis Report To read this article on Zacks.com click here. Other mining companies with favorable Zacks Rank include General Moly, Inc. ( GMO ), North American Palladium Ltd. ( PAL ) and Alcoa Inc. ( AA ). Mining Update North America Copper Mines: Copper sales at the mine increased 5.1% year over year to 371 million pounds and production rose 12.2% to 385 million pounds in the reported quarter.
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Other mining companies with favorable Zacks Rank include General Moly, Inc. ( GMO ), North American Palladium Ltd. ( PAL ) and Alcoa Inc. ( AA ). ALCOA INC (AA): Free Stock Analysis Report FREEPT MC COP-B (FCX): Free Stock Analysis Report GENERAL MOLY IN (GMO): Free Stock Analysis Report NORTH AM PALLAD (PAL): Free Stock Analysis Report To read this article on Zacks.com click here. Average realized price per ounce for gold fell to $1,300 per ounce from $1,606 per ounce a year ago while average realized price per pound for copper declined to $3.14 per pound of copper from $3.51 per pound of copper in the prior-year quarter.
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Other mining companies with favorable Zacks Rank include General Moly, Inc. ( GMO ), North American Palladium Ltd. ( PAL ) and Alcoa Inc. ( AA ). ALCOA INC (AA): Free Stock Analysis Report FREEPT MC COP-B (FCX): Free Stock Analysis Report GENERAL MOLY IN (GMO): Free Stock Analysis Report NORTH AM PALLAD (PAL): Free Stock Analysis Report To read this article on Zacks.com click here. Lower copper and gold sales volumes were due to lower volumes from PT Freeport Indonesia (PT-FI) because of the post-January 12, 2014, restrictions on concentrate exports from Indonesia, which resulted in a deferral of roughly 125 million pounds of copper and 140,000 ounces of gold in the reported quarter.
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952e6f2c-44c2-4e06-a8f8-ce845a03ceaf
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1136.0
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2014-04-21 00:00:00 UTC
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Notable ETF Inflow Detected - RPV, AA, WLP, VLO
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AA
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https://www.nasdaq.com/articles/notable-etf-inflow-detected-rpv-aa-wlp-vlo-2014-04-21
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nan
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nan
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Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel , one standout is the Guggenheim S&P 500 Pure Value ETF (Symbol: RPV) where we have detected an approximate $41.2 million dollar inflow -- that's a 5.7% increase week over week in outstanding units (from 14,052,836 to 14,852,836). Among the largest underlying components of RPV, in trading today Alcoa, Inc. (Symbol: AA) is up about 0.2%, WellPoint Inc (Symbol: WLP) is up about 0.6%, and Valero Energy Corp. (Symbol: VLO) is up by about 0.5%. The chart below shows the one year price performance of RPV, versus its 200 day moving average:
Looking at the chart above, RPV's low point in its 52 week range is $37.32 per share, with $52.29 as the 52 week high point - that compares with a last trade of $51.53. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average » .
Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
Click here to find out which 9 other ETFs had notable inflows »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Among the largest underlying components of RPV, in trading today Alcoa, Inc. (Symbol: AA) is up about 0.2%, WellPoint Inc (Symbol: WLP) is up about 0.6%, and Valero Energy Corp. (Symbol: VLO) is up by about 0.5%. The chart below shows the one year price performance of RPV, versus its 200 day moving average: Looking at the chart above, RPV's low point in its 52 week range is $37.32 per share, with $52.29 as the 52 week high point - that compares with a last trade of $51.53. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand.
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Among the largest underlying components of RPV, in trading today Alcoa, Inc. (Symbol: AA) is up about 0.2%, WellPoint Inc (Symbol: WLP) is up about 0.6%, and Valero Energy Corp. (Symbol: VLO) is up by about 0.5%. The chart below shows the one year price performance of RPV, versus its 200 day moving average: Looking at the chart above, RPV's low point in its 52 week range is $37.32 per share, with $52.29 as the 52 week high point - that compares with a last trade of $51.53. Click here to find out which 9 other ETFs had notable inflows » The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Among the largest underlying components of RPV, in trading today Alcoa, Inc. (Symbol: AA) is up about 0.2%, WellPoint Inc (Symbol: WLP) is up about 0.6%, and Valero Energy Corp. (Symbol: VLO) is up by about 0.5%. Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel , one standout is the Guggenheim S&P 500 Pure Value ETF (Symbol: RPV) where we have detected an approximate $41.2 million dollar inflow -- that's a 5.7% increase week over week in outstanding units (from 14,052,836 to 14,852,836). The chart below shows the one year price performance of RPV, versus its 200 day moving average: Looking at the chart above, RPV's low point in its 52 week range is $37.32 per share, with $52.29 as the 52 week high point - that compares with a last trade of $51.53.
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Among the largest underlying components of RPV, in trading today Alcoa, Inc. (Symbol: AA) is up about 0.2%, WellPoint Inc (Symbol: WLP) is up about 0.6%, and Valero Energy Corp. (Symbol: VLO) is up by about 0.5%. Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel , one standout is the Guggenheim S&P 500 Pure Value ETF (Symbol: RPV) where we have detected an approximate $41.2 million dollar inflow -- that's a 5.7% increase week over week in outstanding units (from 14,052,836 to 14,852,836). These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand.
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0e442f52-be6a-4158-b8bb-1af76e422d92
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1137.0
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2014-04-21 00:00:00 UTC
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Alcoa Strikes New 52-Week High - Analyst Blog
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AA
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https://www.nasdaq.com/articles/alcoa-strikes-new-52-week-high-analyst-blog-2014-04-21
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nan
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nan
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Shares of Alcoa ( AA ) touched a new 52-week high of $13.68 on Apr 17, eclipsing its previous high of $13.44. The stock closed the day at $13.56.
The U.S. aluminum giant, which has a market cap of roughly $16 billion, has seen its shares jump roughly 73% over a year and around 28% so far this year. Average volume of shares traded over the last three months is around 29,217K.
What's Driving Alcoa Up?
Alcoa's adjusted earnings of 9 cents per share for first-quarter 2014, reported on Apr 8, topped the Zacks Consensus Estimate by 4 cents. The company continues to expect aluminum demand to rise 7% this year.
Alcoa, a Zacks Rank #2 (Buy) stock, is seeing strong momentum across automotive and aerospace markets. The automotive industry is expected to offer significant opportunity this year and beyond. Alcoa sees meaningful growth of aluminum use in the auto sector in 2014 as automakers increasingly look for the metal as a cost-effective mean to boost performance, safety, durability and fuel efficiency of their vehicles.
Alcoa is also witnessing healthy airline fundamentals. It has raised its growth expectations for the aerospace market to 8%-9% from 7%-8% for 2014 factoring in strong demand for both large commercial aircraft and regional jets and sustained growth in the business jet market.
Moreover, Alcoa remains committed to move down its cost curves in its upstream businesses and drive profitability in its midstream and downstream businesses. The company has taken up a number of restructuring measures (including closure of smelters) and is aggressively pursuing cost-cutting actions. The company, during the first quarter, announced three smelting capacity reductions.
Alcoa made several investments during the first quarter. In its midstream business, the Global Rolled Products unit invested $40 million in Itapissuma, Brazil rolling mill to bump up production of specialty foils. The company also commissioned the $300 million expansion at its Davenport, IA facility.
In the downstream business, the recently launched Ultra ONE - the world's lightest heavy-duty truck wheel - represents a major opportunity. Ultra ONE is a new 40-pound wheel and being 47% lighter than steel wheels of the same size it will help trucks carry more load and also improve fuel efficiency.
That said, we account for continued pricing pressure. Aluminum prices remain weak given the oversupply of the metal in the market.
Key Picks from the Sector
Other mining companies worth considering include General Moly, Inc. ( GMO ), Golden Minerals Company ( AUMN ) and Platinum Group Metals Ltd. ( PLG ). While General Moly retains a Zacks Rank #1 (Strong Buy), both Golden Minerals and Platinum Group hold a Zacks Rank #2 (Buy).
ALCOA INC (AA): Free Stock Analysis Report
GOLDEN MINERALS (AUMN): Free Stock Analysis Report
GENERAL MOLY IN (GMO): Free Stock Analysis Report
PLATINUM GROUP (PLG): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Shares of Alcoa ( AA ) touched a new 52-week high of $13.68 on Apr 17, eclipsing its previous high of $13.44. ALCOA INC (AA): Free Stock Analysis Report GOLDEN MINERALS (AUMN): Free Stock Analysis Report GENERAL MOLY IN (GMO): Free Stock Analysis Report PLATINUM GROUP (PLG): Free Stock Analysis Report To read this article on Zacks.com click here. Alcoa, a Zacks Rank #2 (Buy) stock, is seeing strong momentum across automotive and aerospace markets.
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ALCOA INC (AA): Free Stock Analysis Report GOLDEN MINERALS (AUMN): Free Stock Analysis Report GENERAL MOLY IN (GMO): Free Stock Analysis Report PLATINUM GROUP (PLG): Free Stock Analysis Report To read this article on Zacks.com click here. Shares of Alcoa ( AA ) touched a new 52-week high of $13.68 on Apr 17, eclipsing its previous high of $13.44. Key Picks from the Sector Other mining companies worth considering include General Moly, Inc. ( GMO ), Golden Minerals Company ( AUMN ) and Platinum Group Metals Ltd. ( PLG ).
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ALCOA INC (AA): Free Stock Analysis Report GOLDEN MINERALS (AUMN): Free Stock Analysis Report GENERAL MOLY IN (GMO): Free Stock Analysis Report PLATINUM GROUP (PLG): Free Stock Analysis Report To read this article on Zacks.com click here. Shares of Alcoa ( AA ) touched a new 52-week high of $13.68 on Apr 17, eclipsing its previous high of $13.44. Alcoa, a Zacks Rank #2 (Buy) stock, is seeing strong momentum across automotive and aerospace markets.
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ALCOA INC (AA): Free Stock Analysis Report GOLDEN MINERALS (AUMN): Free Stock Analysis Report GENERAL MOLY IN (GMO): Free Stock Analysis Report PLATINUM GROUP (PLG): Free Stock Analysis Report To read this article on Zacks.com click here. Shares of Alcoa ( AA ) touched a new 52-week high of $13.68 on Apr 17, eclipsing its previous high of $13.44. Alcoa, a Zacks Rank #2 (Buy) stock, is seeing strong momentum across automotive and aerospace markets.
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368f2d3a-980a-4571-8cb7-011a3410aba2
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1138.0
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2014-04-17 00:00:00 UTC
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#PreMarket Primer: Thursday, April 17: Violence In Ukraine Could Deter Thursday's Negotiations
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AA
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https://www.nasdaq.com/articles/premarket-primer-thursday-april-17-violence-ukraine-could-deter-thursdays-negotiations
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nan
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nan
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Despite diplomatic talks scheduled in Geneva later on Thursday, the crisis in Ukraine is looking more and more likely to escalate after a clash between Ukrainian forces and protesters resulted in the death of three pro-Russian separatists on Wednesday night.
Russian President Vladimir Putin has condemned Kiev, saying the Ukrainian government has committed a serious crime by taking military action.
The incident took place at a national guard base where armed protesters attempted to storm the gates and open fired on the guards when they refused to join the movement. The Ukrainian government has accused Putin of sending in special agents to stir up the pro-Russian movement, but so far Moscow has denied any involvement.
Top News
In other news around the markets:
Wall Street's tech sell off continued with IBM and Google on Wednesday after the two companies, considered barometers of their industries, reported worse than expected first quarter results. With businesses spending less on hardware and advertising becoming more and more complicated amid the switch to mobile devices, the two companies' lackluster earnings were indicative of the challenges that the tech sector is up against this year. Federal Reserve Chair Janet Yellen calmed markets on Wednesday after an address in which she confirmed that the bank was planning to remain accommodative for quite some time. After the bank's last policy meeting, at which Yellen indicated that interest rates could rise as soon as six months after the bank finished tapering, investors had become nervous that the bank was moving towards a rate hike faster than expected. General Motors suffered yet another blow on Wednesday after US safety regulators released new documents showing that test drivers complained about ignition switch problems back in 2006. The problem was identified before the release of a new Cadillac, and more robust switches were ordered to alleviate the problem. GM declined to comment on the new information, and it remains unclear as to whether or not the company's engineers knew about the Cadillac problem when developing the cars in question now. On Thursday, a Reuters survey showed that in April, Japanese manufacturers were more confident about the nation's business conditions and that the recent tax hike may not be as detrimental as originally perceived. The positivity added to growing speculation that the Bank of Japan will keep from further easing in order to get a clear picture of the tax hike's effect on domestic consumption.
Asian Markets
Asian markets were mixed; the Shanghai composite was down 0.30 percent, the Shenzhen composite lost 0.08 percent and the Japanese NIKKEI was flat. However, the Hang Seng index rose 0.28 percent, Australia's ASX 200 was up 0.63 percent and the NZ 50 was up 0.25 percent.
European Markets
European markets were down across the board; the UK's FTSE lost 0.24 percent and the eurozone's STOXX 600 was down 0.26 percent. The German DAX was down 0.17 percent, Italy's MIB lost 0.51 percent and the Spanish IBEX was down 0.58 percent.
Commodities
Brent futures were down 0.25 percent to $109.33 per barrel on Thursday, while WTI futures were flat at $103.75 per barrel. Precious metals were mixed with gold down 0.44 percent, but silver up 0.13 percent. Industrial metals were up across the board with copper up 1.59 percent, aluminum up 1. 24 percent and zinc up 1.08 percent.
Currencies
The euro was strong at $1.3859 despite disappointing inflation data, but lost 0.12 percent against the pound. The dollar was under pressure following Yellen's comments on Wednesday and lost 0.20 percent against the yen, 0.41 percent against the franc and 0.18 percent against the pound.
Earnings
Notable earnings released on Wednesday included:
Google Inc. (NASDAQ: GOOG ) reported first quarter EPS of $10.00, compared to last year's EPS of $0.23 on revenue of $503.85 million. International Business Machines (NYSE: IBM ) reported first quarter EPS of $3.00, compared to last year's EPS of $3.00 on revenue of $23.41 billion. Bank Of America Corporation (NYSE: BAC ) reported a first quarter loss of $0.05, compared to last year's EPS of $0.10 on revenue of $23.50 billion. American Express Company (NYSE: AXP ) reported first quarter EPS of $1.15, compared to last year's EPS of $1.15 on revenue of $7.88 billion.
Pre-Market Movers
Stocks moving in the Premarket included:
International Business Machines (NYSE: IBM ) was down 4.09 percent in premarket trade after releasing worse than expected earnings on Wednesday. Alcoa Inc. (NYSE: AA ) lost 0.60 percent in premarket trade after rising 2.84 percent on Wednesday. Carnival Corp (NYSE: CCL ) was up 0.44 percent in premarket trade after falling 4.04 percent over the past five days Johnson & Johnson (NYSE: JNJ ) gained 0.35 percent in premarket trade after losing 0.20 percent in choppy trading over the past week.
Notable earnings releases expected on Thursday include:
General Electric Company (NYSE: GE ) is expected to report first quarter EPS of $0.32 on revenue of $34.55 billion, compared to last year's EPS of $0.39 on revenue of $35.01 billion. Goldman Sachs Group, Inc. (NYSE: GS ) is expected to report first quarter EPS of $3.60 on revenue of $8.83 billion, compared to last year's EPS of $4.29 on revenue of $10.09 billion. Morgan Stanley (NYSE: MS ) is expected to report first quarter EPS of $0.62 on revenue of $8.69 billion, compared to last year's EPS of $0.61 on revenue of $8.48 billion. Pepsico, Inc. (NYSE: PEP ) is expected to report first quarter EPS of $0.75 on revenue of $12.43 billion, compared to last year's EPS of $0.77 on revenue of $12.58 billion.
Economics
Thursday'seconomic calendarwill be relatively thin, with releases including German PPI, Canadian CPI and Chinese house price data.
For a recap of Wednesday's market action, click .
Tune into Benzinga's #PreMarket Prep show with the newsdesk every morning by clicking here .
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Free Trading Education - Check out the free events taking place on Marketfy this week. Spaces are limited. Sign up today.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Alcoa Inc. (NYSE: AA ) lost 0.60 percent in premarket trade after rising 2.84 percent on Wednesday. Despite diplomatic talks scheduled in Geneva later on Thursday, the crisis in Ukraine is looking more and more likely to escalate after a clash between Ukrainian forces and protesters resulted in the death of three pro-Russian separatists on Wednesday night. General Motors suffered yet another blow on Wednesday after US safety regulators released new documents showing that test drivers complained about ignition switch problems back in 2006.
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Alcoa Inc. (NYSE: AA ) lost 0.60 percent in premarket trade after rising 2.84 percent on Wednesday. Earnings Notable earnings released on Wednesday included: Google Inc. (NASDAQ: GOOG ) reported first quarter EPS of $10.00, compared to last year's EPS of $0.23 on revenue of $503.85 million. Pre-Market Movers Stocks moving in the Premarket included: International Business Machines (NYSE: IBM ) was down 4.09 percent in premarket trade after releasing worse than expected earnings on Wednesday.
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Alcoa Inc. (NYSE: AA ) lost 0.60 percent in premarket trade after rising 2.84 percent on Wednesday. The dollar was under pressure following Yellen's comments on Wednesday and lost 0.20 percent against the yen, 0.41 percent against the franc and 0.18 percent against the pound. Carnival Corp (NYSE: CCL ) was up 0.44 percent in premarket trade after falling 4.04 percent over the past five days Johnson & Johnson (NYSE: JNJ ) gained 0.35 percent in premarket trade after losing 0.20 percent in choppy trading over the past week.
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Alcoa Inc. (NYSE: AA ) lost 0.60 percent in premarket trade after rising 2.84 percent on Wednesday. The problem was identified before the release of a new Cadillac, and more robust switches were ordered to alleviate the problem. Earnings Notable earnings released on Wednesday included: Google Inc. (NASDAQ: GOOG ) reported first quarter EPS of $10.00, compared to last year's EPS of $0.23 on revenue of $503.85 million.
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a803ee6b-6ecd-4dd2-b204-a948fc8ffcfb
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1139.0
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2014-04-17 00:00:00 UTC
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After Hours Most Active for Apr 17, 2014 : UMPQ, BAC, FB, AA, SGMS, QQQ, AMD, ITUB, PBR, RGEN, PBCT
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AA
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https://www.nasdaq.com/articles/after-hours-most-active-apr-17-2014-umpq-bac-fb-aa-sgms-qqq-amd-itub-pbr-rgen-pbct-2014-04
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nan
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nan
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The NASDAQ 100 After Hours Indicator is up .77 to 3,535.3. The total After hours volume is currently 55,969,091 shares traded.
The following are the most active stocks for the after hours session :
Umpqua Holdings Corporation ( UMPQ ) is unchanged at $18.58, with 15,315,116 shares traded.UMPQ is scheduled to provide an earnings report on 4/21/2014, for the fiscal quarter ending Mar2014. The consensus earnings per share forecast is 0.23 per share, which represents a 22 percent increase over the EPS one Year Ago
Bank of America Corporation ( BAC ) is unchanged at $16.15, with 13,294,680 shares traded. BAC's current last sale is 89.72% of the target price of $18.
Facebook, Inc. ( FB ) is +0.04 at $58.98, with 9,955,289 shares traded.FB is scheduled to provide an earnings report on 4/23/2014, for the fiscal quarter ending Mar2014. The consensus earnings per share forecast is 0.18 per share, which represents a 9 percent increase over the EPS one Year Ago
Alcoa Inc. ( AA ) is +0.06 at $13.62, with 6,971,842 shares traded. Over the last four weeks they have had 6 up revisions for the earnings forecast, for the fiscal quarter ending Jun 2014. The consensus EPS forecast is $0.12. , following a 52-week high recorded in today's regular session.
Scientific Games Corp ( SGMS ) is unchanged at $11.46, with 4,999,151 shares traded. SGMS's current last sale is 63.67% of the target price of $18.
PowerShares QQQ Trust, Series 1 ( QQQ ) is unchanged at $86.20, with 3,766,807 shares traded. This represents a 28.89% increase from its 52 Week Low.
Advanced Micro Devices, Inc. ( AMD ) is +0.19 at $3.88, with 2,711,198 shares traded. RTT News Reports: AMD Q1 Results Top Estimates
Itau Unibanco Banco Holding SA ( ITUB ) is -0.0347 at $15.73, with 2,507,778 shares traded.ITUB is scheduled to provide an earnings report on 4/24/2014, for the fiscal quarter ending Mar2014. The consensus earnings per share forecast is 0.38 per share, which represents a 39 percent increase over the EPS one Year Ago
Petroleo Brasileiro S.A.- Petrobras ( PBR ) is unchanged at $14.01, with 2,135,403 shares traded. PBR's current last sale is 70.94% of the target price of $19.75.
Repligen Corporation ( RGEN ) is unchanged at $15.84, with 1,821,144 shares traded. As reported by Zacks, the current mean recommendation for RGEN is in the "strong buy range".
People's United Financial, Inc. ( PBCT ) is -0.0015 at $14.54, with 1,757,583 shares traded. As reported in the last short interest update the days to cover for PBCT is 8.691117; this calculation is based on the average trading volume of the stock.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The consensus earnings per share forecast is 0.18 per share, which represents a 9 percent increase over the EPS one Year Ago Alcoa Inc. ( AA ) is +0.06 at $13.62, with 6,971,842 shares traded. The following are the most active stocks for the after hours session : Umpqua Holdings Corporation ( UMPQ ) is unchanged at $18.58, with 15,315,116 shares traded.UMPQ is scheduled to provide an earnings report on 4/21/2014, for the fiscal quarter ending Mar2014. Facebook, Inc. ( FB ) is +0.04 at $58.98, with 9,955,289 shares traded.FB is scheduled to provide an earnings report on 4/23/2014, for the fiscal quarter ending Mar2014.
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The consensus earnings per share forecast is 0.18 per share, which represents a 9 percent increase over the EPS one Year Ago Alcoa Inc. ( AA ) is +0.06 at $13.62, with 6,971,842 shares traded. The following are the most active stocks for the after hours session : Umpqua Holdings Corporation ( UMPQ ) is unchanged at $18.58, with 15,315,116 shares traded.UMPQ is scheduled to provide an earnings report on 4/21/2014, for the fiscal quarter ending Mar2014. The consensus earnings per share forecast is 0.23 per share, which represents a 22 percent increase over the EPS one Year Ago Bank of America Corporation ( BAC ) is unchanged at $16.15, with 13,294,680 shares traded.
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The consensus earnings per share forecast is 0.18 per share, which represents a 9 percent increase over the EPS one Year Ago Alcoa Inc. ( AA ) is +0.06 at $13.62, with 6,971,842 shares traded. The consensus earnings per share forecast is 0.23 per share, which represents a 22 percent increase over the EPS one Year Ago Bank of America Corporation ( BAC ) is unchanged at $16.15, with 13,294,680 shares traded. The consensus earnings per share forecast is 0.38 per share, which represents a 39 percent increase over the EPS one Year Ago Petroleo Brasileiro S.A.- Petrobras ( PBR ) is unchanged at $14.01, with 2,135,403 shares traded.
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The consensus earnings per share forecast is 0.18 per share, which represents a 9 percent increase over the EPS one Year Ago Alcoa Inc. ( AA ) is +0.06 at $13.62, with 6,971,842 shares traded. The following are the most active stocks for the after hours session : Umpqua Holdings Corporation ( UMPQ ) is unchanged at $18.58, with 15,315,116 shares traded.UMPQ is scheduled to provide an earnings report on 4/21/2014, for the fiscal quarter ending Mar2014. The consensus earnings per share forecast is 0.23 per share, which represents a 22 percent increase over the EPS one Year Ago Bank of America Corporation ( BAC ) is unchanged at $16.15, with 13,294,680 shares traded.
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c51ad8c6-f592-46cf-8906-8776a37700bf
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1140.0
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2014-04-16 00:00:00 UTC
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Why Alcoa (AA) Stock Might be a Great Pick - Tale of the Tape
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AA
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https://www.nasdaq.com/articles/why-alcoa-aa-stock-might-be-a-great-pick-tale-of-the-tape-2014-04-16
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nan
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nan
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One stock that might be an intriguing choice for investors right now is Alcoa Inc. ( AA ). This is because this security in the Mining space is seeing solid earnings estimate revision activity, and is in great company from a Zacks Industry Rank perspective.
This is important because, often times, a rising tide will lift all boats in an industry, as there can be broad trends taking place in a segment that are boosting securities across the board. This is arguably taking place in the Mining space as it currently has a Zacks Industry Rank of 58 out of more than 250 industries, suggesting it is well-positioned from this perspective, especially when compared to other segments out there.
Meanwhile, Alcoa is actually looking pretty good on its own too. The firm has seen solid earnings estimate revision activity over the past month, suggesting analysts are becoming a bit more bullish on the firm's prospects in both the short and long term.
In fact, over the past month, current quarter estimates have increased from 11 cents per share to 12 cents per share, while current year estimates have increased from37 cents a share to 45 cents a share. This has helped AA to earn a Zacks Rank #2 (Buy), further underscoring the company's solid position.
So, if you are looking for a decent pick in a strong industry, consider Alcoa. Not only is its industry currently in the top third, but it is seeing solid estimate revisions as of late, suggesting it could be a very interesting choice for investors seeking a name in this great industry segment.
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 >>
ALCOA INC (AA): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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This has helped AA to earn a Zacks Rank #2 (Buy), further underscoring the company's solid position. One stock that might be an intriguing choice for investors right now is Alcoa Inc. ( AA ). Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free report >> ALCOA INC (AA): Free Stock Analysis Report To read this article on Zacks.com click here.
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One stock that might be an intriguing choice for investors right now is Alcoa Inc. ( AA ). This has helped AA to earn a Zacks Rank #2 (Buy), further underscoring the company's solid position. Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free report >> ALCOA INC (AA): Free Stock Analysis Report To read this article on Zacks.com click here.
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One stock that might be an intriguing choice for investors right now is Alcoa Inc. ( AA ). This has helped AA to earn a Zacks Rank #2 (Buy), further underscoring the company's solid position. Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free report >> ALCOA INC (AA): Free Stock Analysis Report To read this article on Zacks.com click here.
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One stock that might be an intriguing choice for investors right now is Alcoa Inc. ( AA ). This has helped AA to earn a Zacks Rank #2 (Buy), further underscoring the company's solid position. Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free report >> ALCOA INC (AA): Free Stock Analysis Report To read this article on Zacks.com click here.
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dc5b4bd1-c140-4e35-8981-7e2b7012096f
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1141.0
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2014-04-15 00:00:00 UTC
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Tuesday 4/15 Insider Buying Report: FLXS, AA
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AA
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https://www.nasdaq.com/articles/tuesday-415-insider-buying-report-flxs-aa-2014-04-15
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nan
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nan
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As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy -- they expect to make money. So let's look at two noteworthy recent insider buys.
At Flexsteel Industries ( FLXS ), a filing with the SEC revealed that on Monday, Nancy E. Uridil bought 1,705 shares of FLXS, at a cost of $36.39 each, for a total investment of $62,046. Flexsteel Industries, Inc. is trading up about 0.6% on the day Tuesday. Before this latest buy, Uridil made one other purchase in the past year, buying $100,780 shares at a cost of $27.61 each.
And at Alcoa ( AA ), there was insider buying on Friday, by Director Ratan Tata who purchased 1,670 shares at a cost of $12.48 each, for a total investment of $20,838. Before this latest buy, Tata bought AA on 3 other occasions during the past year, for a total investment of $62,547 at an average of $8.87 per share. Alcoa is trading up about 0.5% on the day Tuesday. So far Tata is in the green, up about 3.6% on their buy based on today's trading high of $12.93.
VIDEO: Tuesday 4/15 Insider Buying Report: FLXS, AA
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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And at Alcoa ( AA ), there was insider buying on Friday, by Director Ratan Tata who purchased 1,670 shares at a cost of $12.48 each, for a total investment of $20,838. Before this latest buy, Tata bought AA on 3 other occasions during the past year, for a total investment of $62,547 at an average of $8.87 per share. VIDEO: Tuesday 4/15 Insider Buying Report: FLXS, AA The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Before this latest buy, Tata bought AA on 3 other occasions during the past year, for a total investment of $62,547 at an average of $8.87 per share. VIDEO: Tuesday 4/15 Insider Buying Report: FLXS, AA The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. And at Alcoa ( AA ), there was insider buying on Friday, by Director Ratan Tata who purchased 1,670 shares at a cost of $12.48 each, for a total investment of $20,838.
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And at Alcoa ( AA ), there was insider buying on Friday, by Director Ratan Tata who purchased 1,670 shares at a cost of $12.48 each, for a total investment of $20,838. VIDEO: Tuesday 4/15 Insider Buying Report: FLXS, AA The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Before this latest buy, Tata bought AA on 3 other occasions during the past year, for a total investment of $62,547 at an average of $8.87 per share.
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And at Alcoa ( AA ), there was insider buying on Friday, by Director Ratan Tata who purchased 1,670 shares at a cost of $12.48 each, for a total investment of $20,838. Before this latest buy, Tata bought AA on 3 other occasions during the past year, for a total investment of $62,547 at an average of $8.87 per share. VIDEO: Tuesday 4/15 Insider Buying Report: FLXS, AA The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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70dc4844-5c94-48d2-ac50-b67a87e9a506
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1142.0
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2014-04-14 00:00:00 UTC
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Wall Street braces for uncertain earnings season
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AA
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https://www.nasdaq.com/articles/wall-street-braces-uncertain-earnings-season-2014-04-14
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nan
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nan
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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129dcc5d-6a1f-4b95-bfeb-65811e6af22f
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1143.0
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2014-04-11 00:00:00 UTC
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#PreMarket Primer: Friday, April 11: Tension Between The West And Russia Escalates With Threats Of Energy Supply Interruptions
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AA
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https://www.nasdaq.com/articles/premarket-primer-friday-april-11-tension-between-west-and-russia-escalates-threats-energy
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nan
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nan
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On Thursday, Russian President Vladimir Putin warned Europe that its gas supplies could be disrupted if Russia cuts off Ukraine's supply due to unpaid bills. Putin wrote a letter to eurozone leaders, stating his frustration with Kiev's $2.2 billion dollar debt, saying that supplies would be cut off if the problem is not resolved quickly.
The letter drew US accusations that the Kremlin is using energy "as a tool of coercion". Since Ukraine ousted President Viktor Yanukovich, Russia has almost doubled the cost of gas for Ukraine despite the nation's economic crisis. An interruption to the gas flow in Ukraine would have a domino effect across Europe, as most European nations receive natural gas via a pipeline which passes through Ukraine.
Top News
In other news around the markets:
On Thursday, the White House announced that Health and Human Services Secretary Kathleen Sebelius has decided to resign. Sebelius oversaw the rollout of Obama's Affordable Care Act, which many have criticized for its many flaws. Many hope that her resignation will help calm the waters ahead of US midterm elections in November, in which Democrats are hoping to maintain control of the US Senate. The National Bureau of Statistics announced on Friday that China's consumer price index increased 2.4 percent in March, with fresh food prices providing the bulk of the lift. However, producer prices fell 2.3 percent, the 25th consecutive month of decline. Greece made its way back into the good graces of financial markets as it sold more than $4 billion worth of bonds on Thursday. Though the sale raised less than one percent of the total needed to pay off Greek debt, it marked the nation's return to stability after years of painful budget cuts. General Motors received more bad news on Thursday after estimates for the cost of the company's recall were raised to $1.3 billion. The new estimate is more than three times what GM originally estimated and out paces the company's first quarter profit in 2014. Additionaly, the ongoing investigation has forced the company to fire two engineers who were involved in the decision making related to the faulty ignition switches.
Asian Markets
Asian markets were down across the board after being spooked by Wall Street's losses on Thursday. The NIKKEI was down 2.38 percent, the Shanghai composite lost 0.18 percent, the Shenzhen composite fell 0.20 percent and the Hang Seng index lost 0.79 percent.
European Markets
European markets were down across the board; the UK's FTSE lost 0.99 percent, the eurozone's STOXX 600 was down 1.11 percent, the German DAX fell 1.21 percent, France's CAC 40 lost 1.02 percent and the Spanish IBEX was down 0.86 percent.
Commodities
Energy futures lost ground; Brent futures were down 0.34 percent to $107.09 per barrel and WTI futures lost 0.25 percent. Gold and silver lost 0.26 percent and 0.70 percent respectively while industrial metals increased. Copper gained 0.56 percent, aluminum was up 1.86 percent and zinc rose 0.89 percent.
Currencies
The dollar regained some momentum on Friday and gained 0.25 percent against the yen, 0.25 percent against the Australian dollar and 0.11 percent against the pound. The euro also gained; up 0.11 percent against the pound and 0.22 percent against the yen.
Earnings
Notable earnings released on Thursday included:
Rite Aid Corporation (NYSE: RAD ) reported fourth quarter EPS of $0.10 on revenue of $6.60 billion, compared to last year's EPS of $0.13 on revenue of $6.46 billion. Family Dollar Stores, Inc. (NYSE: FDO ) reported second quarter EPS of $0.80 on revenue of $2.72 billion, compared to last year's EPS of $1.21 on revenue of $2.89 billion. Shaw Communications Inc. (NYSE: SJR ) reported second quarter EPS of $0.46 on revenue of $1.27 billion, compared to last year's EPS of $0.38 on revenue of $1.25 billion.
Pre-Market Movers
Stocks moving in the Premarket included:
Ford Motor Co (NYSE: F ) gained 1.41 percent in premarket trade after steadily declining 4.64 percent over the past week. Alcoa Inc. (NYSE: AA ) was up 0.63 percent in premarket trade after losing 2.31 percent on Thursday. Carnival Corp (NYSE: CCL ) rose 0.53 percent in premarket trade after declining 1.73 percent on Thursday. Corning Inc. (NYSE: CLW ) was down 1.01 percent in premarket trade after losing 3.80 percent over the past week.
Notable earnings releases expected on Friday include:
Wells Fargo & Company (NYSE: WFC ) is expected to report first quarter EPS of $0.96 on revenue of $20.65 billion, compared to last year's EPS of $0.92 on revenue of $21.26 billion. JP Morgan Chase & Co (NYSE: JPM ) is expected to report first quarter EPS of $1.43 on revenue of $24.67 billion, compared to last year's EPS of $1.59 on revenue of $24.85 billion. Fastenal Company (NASDAQ: FAST ) is expected to report first quarter EPS of $0.38 on revenue of $870.87 million, compared to last year's EPS of $0.37 on revenue of $806.33 million.
Economics
Friday'seconomic calendarwill be thin with releases including US PPI, US CPI, Spanish CPI, German CPI and the French current account.
For a recap of Thursday's market action, click .
Tune into Benzinga's pre-market info show with Dennis Dick and Joel Elconin here .
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Alcoa Inc. (NYSE: AA ) was up 0.63 percent in premarket trade after losing 2.31 percent on Thursday. Putin wrote a letter to eurozone leaders, stating his frustration with Kiev's $2.2 billion dollar debt, saying that supplies would be cut off if the problem is not resolved quickly. Though the sale raised less than one percent of the total needed to pay off Greek debt, it marked the nation's return to stability after years of painful budget cuts.
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Alcoa Inc. (NYSE: AA ) was up 0.63 percent in premarket trade after losing 2.31 percent on Thursday. Earnings Notable earnings released on Thursday included: Rite Aid Corporation (NYSE: RAD ) reported fourth quarter EPS of $0.10 on revenue of $6.60 billion, compared to last year's EPS of $0.13 on revenue of $6.46 billion. Pre-Market Movers Stocks moving in the Premarket included: Ford Motor Co (NYSE: F ) gained 1.41 percent in premarket trade after steadily declining 4.64 percent over the past week.
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Alcoa Inc. (NYSE: AA ) was up 0.63 percent in premarket trade after losing 2.31 percent on Thursday. The NIKKEI was down 2.38 percent, the Shanghai composite lost 0.18 percent, the Shenzhen composite fell 0.20 percent and the Hang Seng index lost 0.79 percent. European Markets European markets were down across the board; the UK's FTSE lost 0.99 percent, the eurozone's STOXX 600 was down 1.11 percent, the German DAX fell 1.21 percent, France's CAC 40 lost 1.02 percent and the Spanish IBEX was down 0.86 percent.
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Alcoa Inc. (NYSE: AA ) was up 0.63 percent in premarket trade after losing 2.31 percent on Thursday. General Motors received more bad news on Thursday after estimates for the cost of the company's recall were raised to $1.3 billion. The NIKKEI was down 2.38 percent, the Shanghai composite lost 0.18 percent, the Shenzhen composite fell 0.20 percent and the Hang Seng index lost 0.79 percent.
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053d7ed5-b166-4107-9e8b-1374b9498d81
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1144.0
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2014-04-10 00:00:00 UTC
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Stock Market News for April 10, 2014 - Market News
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AA
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https://www.nasdaq.com/articles/stock-market-news-for-april-10-2014-market-news-2014-04-10
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nan
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nan
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Benchmarks soared on Wednesday primarily boosted by the encouraging minutes from the central bank's policy meeting. Fed officials are said to be in favor of hiking rates only when they are sure about the economic recovery. Alcoa's positive quarterly numbers boosted its share price, somewhat driving the broader market as well.
For a look at the issues currently facing the markets, make sure to read today's Ahead of Wall Street article
The Dow Jones Industrial Average (DJI) gained 1.1% to close Wednesday's trading session at 16,437.18. The Standard & Poor (S&P 500) too rose 1.1% to finish at 1,872.18. The tech-laden Nasdaq Composite Index went up 1.7% to 4,183.90. The fear-gauge CBOE Volatility Index (VIX) plunged 7.2% to settle at 13.82. Total volume for the day was roughly 6.3 billion shares, lower than this month's average of 6.9 billion. Declining stocks were outnumbered by advancing stocks on the NYSE. For 26% stocks that declined, 71% advanced.
Benchmarks were positively impacted after minutes from the Federal Open Market Committee's (FOMC) March meeting indicated that the central bank may not hike the key lending rates in the first half of 2015. The central bank also opined that the 6.5% unemployment rate target to determine interest rate hike is outdated.
The latest minutes from the Federal Open Market Committee's March meeting also stated that measured tapering is likely to continue for some time.
The Federal Open Market Committee decided in its March policy meeting to 'modestly' reduce the pace of its bond purchase program. Also, in that meeting the central bank agreed to trim purchase of its U.S. Treasuries and mortgage-backed securities by another $10 billion starting April. This will bring the bond-buyback program to $55 billion.
Previously, Federal Reserve Chairwoman Janet Yellen had commented that the economic stimulus program may end this fall and the key lending rates will then be raised six months later. The central bank also mentioned that it will rely on a 'wide range of information' on jobs as well as inflation and not just the unemployment rate while deciding on raising interest rates.
However, a week later Yellen allayed concerns about the possibility of a sooner-than-expected hike in interest rates. In her first public speech at a conference in Chicago, she said that the central bank's "extraordinary" commitment to support the economy is required for "some time to come".
Coming back to yesterday's events, shares of aluminum maker Alcoa Inc. (NYSE: AA ) rose 3.8%. Alcoa officially kicked-off the earning season by announcing their first-quarter earnings results. The earnings per share (EPS) of 9 cents topped the Zacks Consensus Estimate of 5 cents.
Bargain-hunting investors bought technology stocks. Internet Information Provider stocks from the Technology sector such as Facebook, Inc. (NASDAQ: FB ), LinkedIn Corporation (NYSE: LNKD ), Yahoo! Inc. (NASDAQ: YHOO ) and Google Inc. (NASDAQ: GOOG ) surged 7.3%, 4.2%, 3.1% and 1.7%, respectively. Overall, the Technology Select Sector SPDR (XLK) rose 1.3%.
Investors also bought bio-tech stocks. Shares of bio-tech companies such as Biogen Idec Inc. (NASDAQ: BIIB ), Gilead Sciences Inc. (NASDAQ: GILD ), Vertex Pharmaceuticals Incorporated (NASDAQ: VRTX ), Amgen Inc. (NASDAQ: AMGN ) and Celgene Corporation (NASDAQ: CELG ) soared 5.2%, 0.9%, 7.0%, 1.7% and 6.6%, respectively. The Health Care Select Sector SPDR (XLV) led the advance among the S&P 500 sectors. The sector increased 2.1%. Overall, 9 out of 10 sectors of the S&P 500 ended in the green.
Separately, investors showed interest in high-growth stocks. Shares of momentum companies such as Boston Scientific Corporation (NYSE: BSX ), The Priceline Group Inc. (NASDAQ: PCLN ), Red Hat, Inc. (NYSE: RHT ) and E*TRADE Financial Corporation (NASDAQ: ETFC ) rose 4.9%, 3.9%, 4.1% and 6.0%, respectively.
Wednesday's economic data had little impact on the markets. The U.S. Department of Commerce announced that the US wholesale inventories rose 0.5% in February after it rose 0.8% in January. This rise in wholesale inventories in February was in line with the consensus estimate of a rise of 0.5%.
ALCOA INC (AA): Free Stock Analysis Report
AMGEN INC (AMGN): Free Stock Analysis Report
BIOGEN IDEC INC (BIIB): Free Stock Analysis Report
BOSTON SCIENTIF (BSX): Free Stock Analysis Report
CELGENE CORP (CELG): Free Stock Analysis Report
E TRADE FINL CP (ETFC): Free Stock Analysis Report
FACEBOOK INC-A (FB): Free Stock Analysis Report
GILEAD SCIENCES (GILD): Free Stock Analysis Report
PRICELINE.COM (PCLN): Free Stock Analysis Report
RED HAT INC (RHT): Free Stock Analysis Report
VERTEX PHARM (VRTX): Free Stock Analysis Report
YAHOO! INC (YHOO): Free Stock Analysis Report
To read this article on Zacks.com click here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Coming back to yesterday's events, shares of aluminum maker Alcoa Inc. (NYSE: AA ) rose 3.8%. ALCOA INC (AA): Free Stock Analysis Report AMGEN INC (AMGN): Free Stock Analysis Report BIOGEN IDEC INC (BIIB): Free Stock Analysis Report BOSTON SCIENTIF (BSX): Free Stock Analysis Report CELGENE CORP (CELG): Free Stock Analysis Report E TRADE FINL CP (ETFC): Free Stock Analysis Report FACEBOOK INC-A (FB): Free Stock Analysis Report GILEAD SCIENCES (GILD): Free Stock Analysis Report PRICELINE.COM (PCLN): Free Stock Analysis Report RED HAT INC (RHT): Free Stock Analysis Report VERTEX PHARM (VRTX): Free Stock Analysis Report YAHOO! For a look at the issues currently facing the markets, make sure to read today's Ahead of Wall Street article The Dow Jones Industrial Average (DJI) gained 1.1% to close Wednesday's trading session at 16,437.18.
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ALCOA INC (AA): Free Stock Analysis Report AMGEN INC (AMGN): Free Stock Analysis Report BIOGEN IDEC INC (BIIB): Free Stock Analysis Report BOSTON SCIENTIF (BSX): Free Stock Analysis Report CELGENE CORP (CELG): Free Stock Analysis Report E TRADE FINL CP (ETFC): Free Stock Analysis Report FACEBOOK INC-A (FB): Free Stock Analysis Report GILEAD SCIENCES (GILD): Free Stock Analysis Report PRICELINE.COM (PCLN): Free Stock Analysis Report RED HAT INC (RHT): Free Stock Analysis Report VERTEX PHARM (VRTX): Free Stock Analysis Report YAHOO! Coming back to yesterday's events, shares of aluminum maker Alcoa Inc. (NYSE: AA ) rose 3.8%. Shares of bio-tech companies such as Biogen Idec Inc. (NASDAQ: BIIB ), Gilead Sciences Inc. (NASDAQ: GILD ), Vertex Pharmaceuticals Incorporated (NASDAQ: VRTX ), Amgen Inc. (NASDAQ: AMGN ) and Celgene Corporation (NASDAQ: CELG ) soared 5.2%, 0.9%, 7.0%, 1.7% and 6.6%, respectively.
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ALCOA INC (AA): Free Stock Analysis Report AMGEN INC (AMGN): Free Stock Analysis Report BIOGEN IDEC INC (BIIB): Free Stock Analysis Report BOSTON SCIENTIF (BSX): Free Stock Analysis Report CELGENE CORP (CELG): Free Stock Analysis Report E TRADE FINL CP (ETFC): Free Stock Analysis Report FACEBOOK INC-A (FB): Free Stock Analysis Report GILEAD SCIENCES (GILD): Free Stock Analysis Report PRICELINE.COM (PCLN): Free Stock Analysis Report RED HAT INC (RHT): Free Stock Analysis Report VERTEX PHARM (VRTX): Free Stock Analysis Report YAHOO! Coming back to yesterday's events, shares of aluminum maker Alcoa Inc. (NYSE: AA ) rose 3.8%. Benchmarks were positively impacted after minutes from the Federal Open Market Committee's (FOMC) March meeting indicated that the central bank may not hike the key lending rates in the first half of 2015.
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Coming back to yesterday's events, shares of aluminum maker Alcoa Inc. (NYSE: AA ) rose 3.8%. ALCOA INC (AA): Free Stock Analysis Report AMGEN INC (AMGN): Free Stock Analysis Report BIOGEN IDEC INC (BIIB): Free Stock Analysis Report BOSTON SCIENTIF (BSX): Free Stock Analysis Report CELGENE CORP (CELG): Free Stock Analysis Report E TRADE FINL CP (ETFC): Free Stock Analysis Report FACEBOOK INC-A (FB): Free Stock Analysis Report GILEAD SCIENCES (GILD): Free Stock Analysis Report PRICELINE.COM (PCLN): Free Stock Analysis Report RED HAT INC (RHT): Free Stock Analysis Report VERTEX PHARM (VRTX): Free Stock Analysis Report YAHOO! Declining stocks were outnumbered by advancing stocks on the NYSE.
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98b0a576-cdde-47af-9a20-8dc48f00ba8e
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1145.0
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2014-04-10 00:00:00 UTC
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H-P to Pay $108M to DOJ and SEC - Analyst Blog
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AA
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https://www.nasdaq.com/articles/h-p-to-pay-%24108m-to-doj-and-sec-analyst-blog-2014-04-10
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nan
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nan
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Hewlett-Packard ( HPQ ) resolved its long-standing federal investigation by paying $108 million to the U.S. Department of Justice (DOJ) and U.S. Securities and Exchange Commission (SEC). H-P's questionable practices of securing and retaining government contracts in Poland, Mexico and Russia were the prime reasons for the investigations.
Both the federal agencies were investigating the second-largest PC vendor for violation under the U.S. Foreign Corrupt Practices Act (FCPA). The Act deems any payments made to foreign government officials to secure or retain business as illegal.
Allegedly, in Russia, H-P paid approximately $2 million between 2000 and 2007 to retain a certain contract with the federal prosecutor's office. These dealings took place through various agents and shell companies. Similar practices were followed in Poland and Mexico where H-P officials paid bribes worth $600k and close to $1 million, respectively, to obtain government contracts.
H-P claimed that the officials conducting these malpractices had left the company and agreed to take on a strong compliance and internal anti-corruption measure to ensure that such incidents are not repeated.
H-P, however, is not the sole offender since bellwethers such as Juniper ( JNPR ) and Alcoa ( AA ) have come under the scanner for similar malpractices. Reportedly, Alcoa settled its dispute by paying $384 million in January this year.
From a broader perspective, despite the FCPA keeping a keen eye on malpractices of U.S. companies on foreign soil, such incidents are not rare. Moreover, the companies are usually charged with penalties that are miniscule compared with the revenues generated from these contracts. Large corporations generally pay and move on.
In H-P's case, though the current settlement will affect short-term results, the company's restructuring plans and turnaround strategies will continue to improve its cash flows. We remain encouraged by H-P's increased focus on high-margin software and services, which is expected to boost results over the long term. H-P's decision to take a software-and-service centric approach is a strategic move, in our view.
The cannibalization of traditional PCs by tablets and other mobile Internet devices makes this transition imperative. H-P is witnessing growth across its converged infrastructure and the emerging area of software-defined data centers. Moreover, solid demand from its cloud, security and big-data solutions and services are expected to drive revenue growth.
Nonetheless, continuing macroeconomic challenges, tepid IT spending and competition from International Business Machines ( IBM ) and Oracle remain headwinds, going ahead.
Currently, H-P sports a Zacks Rank #2 (Buy).
ALCOA INC (AA): Free Stock Analysis Report
HEWLETT PACKARD (HPQ): Free Stock Analysis Report
INTL BUS MACH (IBM): Free Stock Analysis Report
JUNIPER NETWRKS (JNPR): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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H-P, however, is not the sole offender since bellwethers such as Juniper ( JNPR ) and Alcoa ( AA ) have come under the scanner for similar malpractices. ALCOA INC (AA): Free Stock Analysis Report HEWLETT PACKARD (HPQ): Free Stock Analysis Report INTL BUS MACH (IBM): Free Stock Analysis Report JUNIPER NETWRKS (JNPR): Free Stock Analysis Report To read this article on Zacks.com click here. H-P claimed that the officials conducting these malpractices had left the company and agreed to take on a strong compliance and internal anti-corruption measure to ensure that such incidents are not repeated.
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ALCOA INC (AA): Free Stock Analysis Report HEWLETT PACKARD (HPQ): Free Stock Analysis Report INTL BUS MACH (IBM): Free Stock Analysis Report JUNIPER NETWRKS (JNPR): Free Stock Analysis Report To read this article on Zacks.com click here. H-P, however, is not the sole offender since bellwethers such as Juniper ( JNPR ) and Alcoa ( AA ) have come under the scanner for similar malpractices. H-P's questionable practices of securing and retaining government contracts in Poland, Mexico and Russia were the prime reasons for the investigations.
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ALCOA INC (AA): Free Stock Analysis Report HEWLETT PACKARD (HPQ): Free Stock Analysis Report INTL BUS MACH (IBM): Free Stock Analysis Report JUNIPER NETWRKS (JNPR): Free Stock Analysis Report To read this article on Zacks.com click here. H-P, however, is not the sole offender since bellwethers such as Juniper ( JNPR ) and Alcoa ( AA ) have come under the scanner for similar malpractices. H-P's questionable practices of securing and retaining government contracts in Poland, Mexico and Russia were the prime reasons for the investigations.
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H-P, however, is not the sole offender since bellwethers such as Juniper ( JNPR ) and Alcoa ( AA ) have come under the scanner for similar malpractices. ALCOA INC (AA): Free Stock Analysis Report HEWLETT PACKARD (HPQ): Free Stock Analysis Report INTL BUS MACH (IBM): Free Stock Analysis Report JUNIPER NETWRKS (JNPR): Free Stock Analysis Report To read this article on Zacks.com click here. H-P's questionable practices of securing and retaining government contracts in Poland, Mexico and Russia were the prime reasons for the investigations.
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97dcaddd-48b6-478a-bbe4-3d707031ffeb
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1146.0
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2014-04-10 00:00:00 UTC
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Alcoa Earnings Preview: Low Aluminum Prices Will Weigh On Results
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AA
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https://www.nasdaq.com/articles/alcoa-earnings-preview-low-aluminum-prices-will-weigh-results-2014-04-10
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nan
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nan
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Alcoa ( AA ) will report its first quarter earnings result after close of markets Tuesday, April 8 and hold itsearnings conference callon April 9. We expect the company to report lower year-over-year revenues and profits. This is on account of lower aluminum prices as well as restructuring charges associated with shutdown of smelting capacity. The flat-rolled and engineered products divisions may partially offset the negative impact of low aluminum prices on the primary metals business.
Aluminum prices on the London Metal Exchange (LME), which stayed above $1,800 per ton in Q1 2013, stayed between $1,700-$1,800 per ton for the major part of Q1 2014. On average, prices in Q1 2014 have been much lower than in the comparable period last year. Alcoa uses LME aluminum prices as benchmark for its own prices.
While prices have surged in the first week of April on the London Metal Exchange, this is largely due to the impact of a court ruling in the favor of Rusal. The ruling has blocked the implementation of new LME warehouse rules which would have otherwise depressed the spot premiums manufacturers like Alcoa depend on. The upsurge, however, is likely to be temporary as structural factors remain largely unchanged.
See Full Analysis for Alcoa Here
Importance Of Aluminum Prices For Alcoa
Alcoa is organized into four business segments: Alumina, which mines bauxite and processes it into the precursor to aluminum; Primary Metals, which smelts aluminum; Flat-rolled Products, which makes sheets used in beverage cans as well as airplane wings and car parts; and Engineered Products and Solutions, which makes aerospace fasteners, turbine blades and truck wheels. While the Flat-rolled and Engineered Products and Solutions divisions produce value-added products, and thus generate higher margins, a significant proportion of Alcoa's revenues still comes from the Alumina and Primary Metals divisions. This makes its earnings highly sensitive to aluminum prices.
The Aluminum Price Trend In Q1
The European debt crisis and slowing Chinese growth have contributed to the decline in aluminum demand and its prices over the last few quarters. The long term expectations for these factors remain largely unchanged, so weakness in prices is expected to persist in the foreseeable future.
One factor that might explain falling prices is the persistently high aluminum inventory relative to demand, which may be keeping a lid on London Metal Exchange (LME) prices for aluminum. This inventory has accumulated as a result of aluminum being tied up in financing deals which were made possible due to low interest rates. While LME prices are not the actual realized prices for Alcoa, they do indicate a broader trend in global aluminum prices. Also, despite inventories being at a record high, market forces have failed to rationalize supply through the shutdown of smelting capacity. Companies like Alcoa and Rusal have announced smelting capacity cuts, but the same cannot be said of Chinese companies. This is primarily due to state intervention in the form of provision of subsidies or renegotiated power contracts to smelters, which serves as a disincentive to cut production. On a net basis, smelting capacity is still being added in countries in the Middle East where power is cheap and the cost economics works out. Alcoa itself is commissioning its new Ma'aden smelter in Saudi Arabia, which will have a smelting capacity of 740,000 tonnes per year.
Smelting Capacity Shutdowns
Alcoa announced the shutdown of smelting capacities at three facilities in Q1. These include shutdown of the Massena East aluminum smelting capacity of 84,000 tonnes, the Point Henry smelting capacity of 190,000 tonnes and the Sao Luis (Alumar) and Pocos de Caldas cumulative smelting capacity of 147,000 tonnes. Alcoa now has a total idle aluminum smelting capacity of 800,000 tonnes. This represents 21% of its total installed smelting capacity.
For Massena East, Alcoa will record restructuring charges worth $60-70 million for the first quarter of 2014, of which around 40% will be non-cash.
For Point Henry, Alcoa will have to record restructuring charges worth $250-270 million after accounting for tax and non-controlling interest. Of this, approximately 60% will be recorded in the first quarter of 2014. In addition, cash costs worth $160 million will be recorded throughout 2014.
For the shutdowns at Sao Luis (Alumar) and Pocos de Caldas, Alcoa will have to record restructuring charges worth $40-50 million in the first quarter after accounting for tax and non-controlling interest. Of this, approximately 30% will be non-cash. In addition, we expect further charges to be recorded in the second quarter since the shutdown will be completed only in May.
What We Would Like To Know In The Earnings Call
In its Q4 2013earnings conference call Alcoa's management had maintained 2014 growth projections of 7-8% for the aerospace segment, 2-5% for the U.S. automotive segment and 6-10% in the Chinese automotive segment. In the truck and trailers segment in North America, Alcoa expected production to increase by 1-5% in 2014. Demand in the commercial building and construction segment was expected to grow by 3-4% in 2014 in North America.(( Alcoa Q4 2013 Earnings Conference Call , Seeking Alpha))
We would like to see if results at the end of Q1 are in tandem with expectations.
The next big growth opportunity for Alcoa is expected to be the increased adoption of aluminum for automobiles. We would like to know if there have been further deals on this front after the one for Ford's F-150 pick-up truck.
We have a Trefis price estimate for Alcoa of $9 which will be updated after the Q1 results.
See More at Trefis | View Interactive Institutional Research (Powered by Trefis)
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Alcoa ( AA ) will report its first quarter earnings result after close of markets Tuesday, April 8 and hold itsearnings conference callon April 9. While prices have surged in the first week of April on the London Metal Exchange, this is largely due to the impact of a court ruling in the favor of Rusal. This is primarily due to state intervention in the form of provision of subsidies or renegotiated power contracts to smelters, which serves as a disincentive to cut production.
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Alcoa ( AA ) will report its first quarter earnings result after close of markets Tuesday, April 8 and hold itsearnings conference callon April 9. These include shutdown of the Massena East aluminum smelting capacity of 84,000 tonnes, the Point Henry smelting capacity of 190,000 tonnes and the Sao Luis (Alumar) and Pocos de Caldas cumulative smelting capacity of 147,000 tonnes. For Point Henry, Alcoa will have to record restructuring charges worth $250-270 million after accounting for tax and non-controlling interest.
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Alcoa ( AA ) will report its first quarter earnings result after close of markets Tuesday, April 8 and hold itsearnings conference callon April 9. See Full Analysis for Alcoa Here Importance Of Aluminum Prices For Alcoa Alcoa is organized into four business segments: Alumina, which mines bauxite and processes it into the precursor to aluminum; Primary Metals, which smelts aluminum; Flat-rolled Products, which makes sheets used in beverage cans as well as airplane wings and car parts; and Engineered Products and Solutions, which makes aerospace fasteners, turbine blades and truck wheels. While LME prices are not the actual realized prices for Alcoa, they do indicate a broader trend in global aluminum prices.
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Alcoa ( AA ) will report its first quarter earnings result after close of markets Tuesday, April 8 and hold itsearnings conference callon April 9. This is on account of lower aluminum prices as well as restructuring charges associated with shutdown of smelting capacity. Smelting Capacity Shutdowns Alcoa announced the shutdown of smelting capacities at three facilities in Q1.
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db753082-13e1-4fba-a7a2-eb5af02bd16c
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1147.0
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2014-04-09 00:00:00 UTC
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Midday Update: Stocks Continue Modest Rebound, Buoyed By Positive Earnings, FOMC Minutes
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AA
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https://www.nasdaq.com/articles/midday-update-stocks-continue-modest-rebound-buoyed-positive-earnings-fomc-minutes-2014-04
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nan
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nan
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Stocks Wednesday were cautiously adding to yesterday's small gains after upbeat earnings from Alcoa ( AA ) eased some of the anxiety surrounding Q1 earnings. Investors also were betting that minutes from the March FOMC meeting due out this afternoon will confirm consistent economic growth and a continuation of the Fed's tapering of stimulus efforts that began late last year.
As stocks extend their recovery, the recent shift into government bonds has gone on hold, driving the yield on the 10-year note back over 2.70% - or 2 basis points above Tuesday levels. Internet stocks were helping the Nasdaq Composite index again outperform, while shares of healthcare and industrial companies were supporting moves higher by the S&P 500 and the Dow Jones Industrial Average.
Theeconomic calendarWednesday was again very light. Wholesale inventories rose 0.5% in February following a revised 0.8% gain in January, the Commerce Department reported today. Wholesaler sales also rebounded in February, climbing 0.7% after a 1.8% decline the prior month. Both February numbers matched market expectations.
European markets were higher in concert with the U.S. although continued tensions between Russia and the West concerning unrest in Ukraine is limiting Tuesday's gains. Strength in banking and homebuilding stocks underpinned the UK stock index, while the dampening impact from the situation in Ukraine is more pronounced on the German index.
Crude oil was up $0.13 to $102.69 per barrel. Natural gas was down $0.04 to $4.57 per 1 million BTU. Gold was down $2.70 to 1,306.40 an ounce, while silver was up $0.28 to $19.78 an ounce. Copper was up $0.03 to $3.02 per pound.
Among energy ETFs, the United States Oil Fund was up 0.15% to $36.95 with the United States Natural Gas Fund was up 0.36% to $25.35. Amongst precious-metal funds, the Market Vectors Gold Miners ETF was down 0.65% to 24.66 while SPDR Gold Shares were down 0.24% to $125.79. The iShares Silver Trust was down 1.08% to $19.02.
Here's where the markets stand at mid-day:
NYSE Composite Index up 28.76 (+0.28%) to 10,480.77
Dow Jones Industrial Average up 85.38 (+0.53%) to 16,341.52
S&P 500 up 8.67 (+0.47%) to 1,860.63
Nasdaq Composite Index up 37.58 (+0.90%) to 4,150.56
GLOBAL SENTIMENT
Nikkei 225 Index down 2.10%
Hang Seng Index up 1.09%
Shanghai China Composite Index up 0.33%
FTSE 100 Index up 0.68%
CAC 40 up 0.40%
DAX up 0.16%
NYSE SECTOR INDICES
NYSE Energy Sector Index up 0.14%
NYSE Financial Sector Index up 0.22%
NYSE Healthcare Sector Index up 0.74%
UPSIDE MOVERS
(+) CTCT (+27.70%) Set Q1 and FY 2014 revenue outlook above street estimates
(+) MELA (+5.37%) Named Robert W. Cook from Immune Pharmaceuticals ( IMNP ) as its new chief financial officer.
(+) BSDM (+3.10%) Q2 Revenue doubles, earnings loss narrows
DOWNSIDE MOVERS
(-) ISRG (-7.05%) Q1 revenue will fall 24% from a year earlier to $465 million, compared with the consensus estimate of $536 million.
(-) AHT (-6.34%) Offering Is Upsized to 7.5 mln shares, from 7 mln shares, prices at 4.5% discount.
(-) HALO (-3.74%) Clinical hold by FDA of PEGPH20 pancreatic cancer trial.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Stocks Wednesday were cautiously adding to yesterday's small gains after upbeat earnings from Alcoa ( AA ) eased some of the anxiety surrounding Q1 earnings. Investors also were betting that minutes from the March FOMC meeting due out this afternoon will confirm consistent economic growth and a continuation of the Fed's tapering of stimulus efforts that began late last year. As stocks extend their recovery, the recent shift into government bonds has gone on hold, driving the yield on the 10-year note back over 2.70% - or 2 basis points above Tuesday levels.
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Stocks Wednesday were cautiously adding to yesterday's small gains after upbeat earnings from Alcoa ( AA ) eased some of the anxiety surrounding Q1 earnings. Among energy ETFs, the United States Oil Fund was up 0.15% to $36.95 with the United States Natural Gas Fund was up 0.36% to $25.35. Here's where the markets stand at mid-day: NYSE Composite Index up 28.76 (+0.28%) to 10,480.77 Dow Jones Industrial Average up 85.38 (+0.53%) to 16,341.52 S&P 500 up 8.67 (+0.47%) to 1,860.63 Nasdaq Composite Index up 37.58 (+0.90%) to 4,150.56
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Stocks Wednesday were cautiously adding to yesterday's small gains after upbeat earnings from Alcoa ( AA ) eased some of the anxiety surrounding Q1 earnings. Here's where the markets stand at mid-day: NYSE Composite Index up 28.76 (+0.28%) to 10,480.77 Dow Jones Industrial Average up 85.38 (+0.53%) to 16,341.52 S&P 500 up 8.67 (+0.47%) to 1,860.63 Nasdaq Composite Index up 37.58 (+0.90%) to 4,150.56 Nikkei 225 Index down 2.10% Hang Seng Index up 1.09% Shanghai China Composite Index up 0.33% FTSE 100 Index up 0.68% CAC 40 up 0.40% DAX up 0.16%
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Stocks Wednesday were cautiously adding to yesterday's small gains after upbeat earnings from Alcoa ( AA ) eased some of the anxiety surrounding Q1 earnings. Wholesaler sales also rebounded in February, climbing 0.7% after a 1.8% decline the prior month. Among energy ETFs, the United States Oil Fund was up 0.15% to $36.95 with the United States Natural Gas Fund was up 0.36% to $25.35.
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94402e52-b307-42a9-ab39-271232d9f794
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1148.0
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2014-04-09 00:00:00 UTC
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Stocks Gain as Minutes Indicate FOMC To Remain Accommodative
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AA
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https://www.nasdaq.com/articles/stocks-gain-minutes-indicate-fomc-remain-accommodative-2014-04-09
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nan
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nan
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Wall Street bulls breathed a sigh of relief Wednesday when the March minutes from the Federal Open Market Committee meeting indicated the Fed is likely to keep short-term interest rates low even after economic thresholds have been met, fueling a late-day surge in stocks. Equities built on early, conservative gains attributed to better-than-expected earnings from Alcoa ( AA ), which helped alleviate some anxiety surrounding Q1 results. Bargain-hunting in social media and technology stocks helped the Nasdaq Composite pierce its 50-day moving average and close 1.5% higher.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
Equities built on early, conservative gains attributed to better-than-expected earnings from Alcoa ( AA ), which helped alleviate some anxiety surrounding Q1 results. Wall Street bulls breathed a sigh of relief Wednesday when the March minutes from the Federal Open Market Committee meeting indicated the Fed is likely to keep short-term interest rates low even after economic thresholds have been met, fueling a late-day surge in stocks. Bargain-hunting in social media and technology stocks helped the Nasdaq Composite pierce its 50-day moving average and close 1.5% higher.
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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. Equities built on early, conservative gains attributed to better-than-expected earnings from Alcoa ( AA ), which helped alleviate some anxiety surrounding Q1 results. Bargain-hunting in social media and technology stocks helped the Nasdaq Composite pierce its 50-day moving average and close 1.5% higher.
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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. Equities built on early, conservative gains attributed to better-than-expected earnings from Alcoa ( AA ), which helped alleviate some anxiety surrounding Q1 results. Wall Street bulls breathed a sigh of relief Wednesday when the March minutes from the Federal Open Market Committee meeting indicated the Fed is likely to keep short-term interest rates low even after economic thresholds have been met, fueling a late-day surge in stocks.
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Equities built on early, conservative gains attributed to better-than-expected earnings from Alcoa ( AA ), which helped alleviate some anxiety surrounding Q1 results. Wall Street bulls breathed a sigh of relief Wednesday when the March minutes from the Federal Open Market Committee meeting indicated the Fed is likely to keep short-term interest rates low even after economic thresholds have been met, fueling a late-day surge in stocks. Bargain-hunting in social media and technology stocks helped the Nasdaq Composite pierce its 50-day moving average and close 1.5% higher.
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002ec697-d5df-4cb2-a9b5-366b6256da6d
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1149.0
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2014-04-09 00:00:00 UTC
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Asian ADRs Rise on Broad Market Push Following U.S. Earnings
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AA
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https://www.nasdaq.com/articles/asian-adrs-rise-broad-market-push-following-us-earnings-2014-04-09
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nan
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nan
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Asian American Depositary Receipts firmed Wednesday as investor optimism rose on the back of a better-than-expected start to the U.S. earnings season.
Industry bellwether Alcoa ( AA ) posted better-than-anticipated results after the bell on Tuesday which set the early tone. Investors are also betting that there will be no surprises from the Federal Reserve Open Committee meeting minutes due to be released at 2 p.m. EDT. Lingering concerns over unrest in Ukraine tempered the advance but for now were mostly overlooked.
The Bank of New York Asian index of American depositary receipts was last up 0.1% to 141.97. Chinese advancers outpaced decliners three to two but Japanese decliners outpaced advancers three to two.
Best performing Chinese ADRS were out-of-home advertising network VisionChina Media ( VISN ) up 9.3% to $28.38 and online video company Ku6 Media ( KUTV ), up 5.6% to $2.44. Worst performing Chinese ADRS were leisure good company 500.com ( WBAI ), down 2.9% to $36.62 and general retailer ATA ( ATAI ), down 2.4% to $3.99. The decline in ATA left the ADR down 0.5% for the year to date.
In other Chinese ADRs in the news, Youku Tudou (YOKU), the internet television company in China rose 3.6% to $25.90 after it said it recently launched the beta version of an interactive entertainment platform, Xingmen.
Vipshop Holdings Ltd. (VIPS) rose 1.6% to $144.88 after Credit Suisse on Tuesday upgraded the Chinese online retailer to outperform from neutral, with a price target elevated to $178 per ADR from $145.
Worst performing Japanese ADRS were financial service company Orix (IX), down 1.4% to $68.06, and Toyota Motor (TM), down 1.4% to $107.59. Toyota Motor fell on reports Wednesday that the world's largest automaker recalled 6.4 million vehicles globally.
Best performing ADRS from Japan were computer forensics company UBIC (UBIC), up 15.5% to $9.50 and manufacturer of office multifunction devices, copying machines, printers and cameras Canon (CAJ), up 1% to $30.90.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
Industry bellwether Alcoa ( AA ) posted better-than-anticipated results after the bell on Tuesday which set the early tone. Asian American Depositary Receipts firmed Wednesday as investor optimism rose on the back of a better-than-expected start to the U.S. earnings season. In other Chinese ADRs in the news, Youku Tudou (YOKU), the internet television company in China rose 3.6% to $25.90 after it said it recently launched the beta version of an interactive entertainment platform, Xingmen.
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Industry bellwether Alcoa ( AA ) posted better-than-anticipated results after the bell on Tuesday which set the early tone. Asian American Depositary Receipts firmed Wednesday as investor optimism rose on the back of a better-than-expected start to the U.S. earnings season. Chinese advancers outpaced decliners three to two but Japanese decliners outpaced advancers three to two.
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Industry bellwether Alcoa ( AA ) posted better-than-anticipated results after the bell on Tuesday which set the early tone. Chinese advancers outpaced decliners three to two but Japanese decliners outpaced advancers three to two. Best performing Chinese ADRS were out-of-home advertising network VisionChina Media ( VISN ) up 9.3% to $28.38 and online video company Ku6 Media ( KUTV ), up 5.6% to $2.44.
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Industry bellwether Alcoa ( AA ) posted better-than-anticipated results after the bell on Tuesday which set the early tone. Chinese advancers outpaced decliners three to two but Japanese decliners outpaced advancers three to two. Worst performing Chinese ADRS were leisure good company 500.com ( WBAI ), down 2.9% to $36.62 and general retailer ATA ( ATAI ), down 2.4% to $3.99.
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73861d2a-5fb4-4e30-9d16-ebe34661fb2e
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1150.0
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2014-04-09 00:00:00 UTC
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Guggenheim S&P 500 Pure Value ETF Experiences Big Inflow
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AA
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https://www.nasdaq.com/articles/guggenheim-sp-500-pure-value-etf-experiences-big-inflow-2014-04-09
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nan
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nan
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Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel , one standout is the Guggenheim S&P 500 Pure Value ETF (Symbol: RPV) where we have detected an approximate $81.7 million dollar inflow -- that's a 12.8% increase week over week in outstanding units (from 12,452,836 to 14,052,836). Among the largest underlying components of RPV, in trading today Alcoa, Inc. (Symbol: AA) is up about 4.6%, Valero Energy Corp. (Symbol: VLO) is up about 0.6%, and Genworth Financial, Inc. (Symbol: GNW) is lower by about 0.7%. The chart below shows the one year price performance of RPV, versus its 200 day moving average:
Looking at the chart above, RPV's low point in its 52 week range is $37.32 per share, with $52.29 as the 52 week high point - that compares with a last trade of $51.11. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average » .
Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
Click here to find out which 9 other ETFs had notable inflows »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Among the largest underlying components of RPV, in trading today Alcoa, Inc. (Symbol: AA) is up about 4.6%, Valero Energy Corp. (Symbol: VLO) is up about 0.6%, and Genworth Financial, Inc. (Symbol: GNW) is lower by about 0.7%. The chart below shows the one year price performance of RPV, versus its 200 day moving average: Looking at the chart above, RPV's low point in its 52 week range is $37.32 per share, with $52.29 as the 52 week high point - that compares with a last trade of $51.11. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand.
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Among the largest underlying components of RPV, in trading today Alcoa, Inc. (Symbol: AA) is up about 4.6%, Valero Energy Corp. (Symbol: VLO) is up about 0.6%, and Genworth Financial, Inc. (Symbol: GNW) is lower by about 0.7%. The chart below shows the one year price performance of RPV, versus its 200 day moving average: Looking at the chart above, RPV's low point in its 52 week range is $37.32 per share, with $52.29 as the 52 week high point - that compares with a last trade of $51.11. Click here to find out which 9 other ETFs had notable inflows » The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Among the largest underlying components of RPV, in trading today Alcoa, Inc. (Symbol: AA) is up about 4.6%, Valero Energy Corp. (Symbol: VLO) is up about 0.6%, and Genworth Financial, Inc. (Symbol: GNW) is lower by about 0.7%. Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel , one standout is the Guggenheim S&P 500 Pure Value ETF (Symbol: RPV) where we have detected an approximate $81.7 million dollar inflow -- that's a 12.8% increase week over week in outstanding units (from 12,452,836 to 14,052,836). The chart below shows the one year price performance of RPV, versus its 200 day moving average: Looking at the chart above, RPV's low point in its 52 week range is $37.32 per share, with $52.29 as the 52 week high point - that compares with a last trade of $51.11.
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Among the largest underlying components of RPV, in trading today Alcoa, Inc. (Symbol: AA) is up about 4.6%, Valero Energy Corp. (Symbol: VLO) is up about 0.6%, and Genworth Financial, Inc. (Symbol: GNW) is lower by about 0.7%. Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel , one standout is the Guggenheim S&P 500 Pure Value ETF (Symbol: RPV) where we have detected an approximate $81.7 million dollar inflow -- that's a 12.8% increase week over week in outstanding units (from 12,452,836 to 14,052,836). The chart below shows the one year price performance of RPV, versus its 200 day moving average: Looking at the chart above, RPV's low point in its 52 week range is $37.32 per share, with $52.29 as the 52 week high point - that compares with a last trade of $51.11.
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2b5de736-4d27-4441-8fdf-6f9d6369e138
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1151.0
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2014-04-09 00:00:00 UTC
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Alcoa Rises as Q1 Earnings Top - Analyst Blog
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AA
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https://www.nasdaq.com/articles/alcoa-rises-as-q1-earnings-top-analyst-blog-2014-04-09
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nan
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nan
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Alcoa Inc. ( AA ) posted a loss in the first quarter of 2014 as hefty restructuring charges and weak aluminum prices weighed on its bottom line in the quarter. But its shares rose as earnings, barring items, topped expectations.
The U.S. aluminum giant raked in a loss of $178 million or 16 cents per share in the first quarter compared with a profit of $149 million or 13 cents per share in the year-ago quarter. The company recorded $276 million in restructuring charges and other special items in the quarter, mostly related to smelter and rolling mill capacity reductions.
Excluding one-time special items, earnings came in at $98 million or 9 cents per share in the reported quarter, below the year-ago earnings of $121 million or 11 cents. However, it surpassed the Zacks Consensus Estimate of 5 cents.
Revenues dropped roughly 6.5% to $5,454 million in the first quarter from $5,833 million in the year-ago quarter. It missed the Zacks Consensus Estimate of $5,561 million. The decline was primarily due to weak aluminum prices which dropped 8% year over year.
Alcoa has reaffirmed its global aluminum demand growth expectations of 7% for 2014.
Alcoa's shares, which are up around 18% so far this year, rose as much as 3.3% in after-hours trading yesterday, reflecting the healthy earnings beat. The stock is up 51% over a year.
While many no longer consider Alcoa a major earnings season bellwether following its exclusion from the Dow Jones Industrial Average last year, its results still matter as they shed light on demand trend for aluminum across a gamut of industries, which is closely linked to levels of economic activity.
Alcoa Inc - Quarterly Earnings Per Share | FindTheBest
Segment Review
Alumina - Shipments in the reported quarter were 2.6 million metric tons on production of 4.2 million metric tons. After Tax Operating Income (ATOI) was $92 million, up from $58 million in the year-ago quarter and $70 million in the sequentially preceding quarter. The results were driven by strong productivity savings, positive Alumina Price Index-based pricing and the sale of Alcoa's Suriname gold mine interest, partly offset by lower LME prices, lower volumes and higher energy costs.
Primary Metals - Shipments in the quarter were 0.6 million metric tons, down 12.5% from the year-ago quarter. Production in the quarter was 0.8 million metric tons, down 6.2% from the year-ago quarter. ATOI was negative $15 million compared with an income of $39 million in the year-ago quarter and negative $35 million in the prior quarter.
The sequential improvement in ATOI was led by higher regional premium prices along with value-add product mix improvements, and favorable energy prices. However, these were offset by negative LME prices, increased alumina costs and taxes, as well as costs related to smelter closures at the Point Henry and Massena East smelters.
Global Rolled Products - Shipments in the quarter were roughly 0.5 million metric tons, up 3.8% year over year. Third-party revenues were $1.7 billion, down 5.7% year over year. The segment posted ATOI of $59 million (including a charge of $11 million related to the permanent shutdown of the Australia rolling operations), down 27.2% year over year and up nearly three-fold sequentially. The sequential jump was due to record auto sheet quarterly revenue, increasing demand in industrial and commercial transportation products, and higher productivity and fixed cost absorption from higher mill utilization.
Engineered Products and Solutions - Shipments in the quarter were 0.06 million metric tons, up 5.5% year over year. The segment posted first quarter ATOI of $189 million, up 8.5% year over year and 12.5% sequentially. The sequential rise was due to higher volumes in aerospace and commercial transportation coupled with favorable productivity across all businesses.
Financial Position
Alcoa's cash and cash equivalents stood at roughly $0.7 billion as of Mar 31, 2014, down from $1.55 billion as of Mar 31, 2013. Alcoa had a debt-to-capital ratio of 35%, flat year over year.
Portfolio Transformation
Alcoa made several investments during the reported quarter. In its midstream business, Global Rolled Products made an investment of $40 million in Itapissuma, Brazil rolling mill to increase production of specialty foils. The company also commissioned the $300 million expansion at its Davenport, IA facility. The company's aim is to generate $1 billion in incremental revenue growth by 2016.
The company also announced that it is investing $13 million in its wheel plant in Szekesfehervar to meet the rising European demand for its Dura-Bright surface-treated wheels. Alcoa, launched the world's lightest heavy-duty truck wheel-the Ultra ONE - within its downstream business, Engineered Products and Solutions.
Strategic Actions
Alcoa's strategic re-positioning of its value and commodities businesses is working very well. The company is making capital investments and remains on track to move down the cost curve and curtail capacities in its upstream business. The curtailments will improve the competitiveness of the company's Primary Products business.
During the quarter, Alcoa announced various capacity curtailments. The company announced that it will permanently close Point Henry aluminum smelter in Australia by Aug 2014, thereby curtailing 190,000 metric tons. Also, it announced the closure of two remaining potlines at the Massena East, New York smelter, totaling 84,000 metric tons of smelting capacity.
Alcoa has realized $250 million year-over-year productivity savings, of its target of $850 million. The company's capital expenditures amounted to $92 million against an annual plan of $500 million and controlled sustaining capital expenditures of $117 million against a $750 million annual target. The company is also progressing on the Saudi Arabia joint venture project with $35 million already invested against a $125 million annual plan.
Outlook
The company raised its expectations to 8%-9% global growth in the aerospace sector in 2014 from the previous expectations of 7%-8% on the back of strong demand for both large commercial aircraft and regional jets and continued growth in the business jet market. Alcoa's growth forecast for other markets are - automotive (1%-4%), packaging (2%-3%), commercial building and construction (4%-6%).
Alcoa expects the transportation market to remain steady (-1% to 3%) in 2014 after witnessing a strong 2013. The company forecasts a decline in the industrial gas turbine market (-8% to -12%) on lower orders for new gas turbines and spare parts.
Alcoa is a world leader in production and management of primary aluminum, fabricated aluminum, and alumina. The company is also the world's largest miner of bauxite and refiner of alumina.
Alcoa is divesting underperforming assets through its restructuring program and is aggressively pursuing cost-cutting actions. However, the company contends with pricing pressure.
Alcoa currently retains a Zacks Rank #3 (Hold).
Other mining companies worth considering are General Moly, Inc. ( GMO ), Platinum Group Metals Ltd. ( PLG ) and Alexco Resource Corporation ( AXU ), all carrying a Zacks Rank #2 (Buy).
ALCOA INC (AA): Free Stock Analysis Report
ALEXCO RESOURCE (AXU): Free Stock Analysis Report
GENERAL MOLY IN (GMO): Free Stock Analysis Report
PLATINUM GROUP (PLG): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Alcoa Inc. ( AA ) posted a loss in the first quarter of 2014 as hefty restructuring charges and weak aluminum prices weighed on its bottom line in the quarter. ALCOA INC (AA): Free Stock Analysis Report ALEXCO RESOURCE (AXU): Free Stock Analysis Report GENERAL MOLY IN (GMO): Free Stock Analysis Report PLATINUM GROUP (PLG): Free Stock Analysis Report To read this article on Zacks.com click here. The company recorded $276 million in restructuring charges and other special items in the quarter, mostly related to smelter and rolling mill capacity reductions.
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ALCOA INC (AA): Free Stock Analysis Report ALEXCO RESOURCE (AXU): Free Stock Analysis Report GENERAL MOLY IN (GMO): Free Stock Analysis Report PLATINUM GROUP (PLG): Free Stock Analysis Report To read this article on Zacks.com click here. Alcoa Inc. ( AA ) posted a loss in the first quarter of 2014 as hefty restructuring charges and weak aluminum prices weighed on its bottom line in the quarter. Alcoa Inc - Quarterly Earnings Per Share | FindTheBest Segment Review Alumina - Shipments in the reported quarter were 2.6 million metric tons on production of 4.2 million metric tons.
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Alcoa Inc. ( AA ) posted a loss in the first quarter of 2014 as hefty restructuring charges and weak aluminum prices weighed on its bottom line in the quarter. ALCOA INC (AA): Free Stock Analysis Report ALEXCO RESOURCE (AXU): Free Stock Analysis Report GENERAL MOLY IN (GMO): Free Stock Analysis Report PLATINUM GROUP (PLG): Free Stock Analysis Report To read this article on Zacks.com click here. Alcoa Inc - Quarterly Earnings Per Share | FindTheBest Segment Review Alumina - Shipments in the reported quarter were 2.6 million metric tons on production of 4.2 million metric tons.
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Alcoa Inc. ( AA ) posted a loss in the first quarter of 2014 as hefty restructuring charges and weak aluminum prices weighed on its bottom line in the quarter. ALCOA INC (AA): Free Stock Analysis Report ALEXCO RESOURCE (AXU): Free Stock Analysis Report GENERAL MOLY IN (GMO): Free Stock Analysis Report PLATINUM GROUP (PLG): Free Stock Analysis Report To read this article on Zacks.com click here. Alcoa has reaffirmed its global aluminum demand growth expectations of 7% for 2014.
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af8ecfa8-340c-4ee3-b7e9-56fc1f1a826d
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1152.0
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2014-04-09 00:00:00 UTC
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Pre-Market Most Active for Apr 9, 2014 : NOK, FB, SIRI, AA, VZ, QQQ, SNY, BAC, GM, HALO, VOD, FCEL
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AA
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https://www.nasdaq.com/articles/pre-market-most-active-apr-9-2014-nok-fb-siri-aa-vz-qqq-sny-bac-gm-halo-vod-fcel-2014-04
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The NASDAQ 100 Pre-Market Indicator is up 10.44 to 3,548.67. The total Pre-Market volume is currently 2,966,493 shares traded.
The following are the most active stocks for the pre-market session :
Nokia Corporation ( NOK ) is +0.09 at $7.67, with 1,109,629 shares traded. NOK's current last sale is 109.57% of the target price of $7.
Facebook, Inc. ( FB ) is +0.9999 at $59.19, with 636,430 shares traded. As reported by Zacks, the current mean recommendation for FB is in the "buy range".
Sirius XM Holdings Inc. ( SIRI ) is +0.025 at $3.09, with 536,820 shares traded. SIRI's current last sale is 68.67% of the target price of $4.5.
Alcoa Inc. ( AA ) is +0.48 at $13.01, with 393,174 shares traded. AA's current last sale is 130.1% of the target price of $10.
Verizon Communications Inc. ( VZ ) is -0.15 at $48.06, with 326,792 shares traded. As reported by Zacks, the current mean recommendation for VZ is in the "buy range".
PowerShares QQQ Trust, Series 1 ( QQQ ) is +0.3 at $86.64, with 310,468 shares traded. This represents a 29.55% increase from its 52 Week Low.
Sanofi ( SNY ) is +0.0615 at $52.56, with 253,000 shares traded. SNY's current last sale is 94.71% of the target price of $55.5.
Bank of America Corporation ( BAC ) is +0.08 at $16.52, with 223,994 shares traded.BAC is scheduled to provide an earnings report on 4/16/2014, for the fiscal quarter ending Mar2014. The consensus earnings per share forecast is 0.05 per share, which represents a 20 percent increase over the EPS one Year Ago
General Motors Company ( GM ) is -0.57 at $33.96, with 166,791 shares traded. As reported by Zacks, the current mean recommendation for GM is in the "buy range".
Halozyme Therapeutics, Inc. ( HALO ) is -0.23 at $8.06, with 116,162 shares traded. As reported in the last short interest update the days to cover for HALO is 7.428481; this calculation is based on the average trading volume of the stock.
Vodafone Group Plc ( VOD ) is +0.52 at $36.52, with 116,138 shares traded. VOD's current last sale is 56.92% of the target price of $64.161.
FuelCell Energy, Inc. ( FCEL ) is +0.05 at $2.43, with 109,663 shares traded. Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Oct 2014. The consensus EPS forecast is $-0.02. FCEL's current last sale is 90% of the target price of $2.7.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Alcoa Inc. ( AA ) is +0.48 at $13.01, with 393,174 shares traded. AA's current last sale is 130.1% of the target price of $10. The following are the most active stocks for the pre-market session : Nokia Corporation ( NOK ) is +0.09 at $7.67, with 1,109,629 shares traded.
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Alcoa Inc. ( AA ) is +0.48 at $13.01, with 393,174 shares traded. AA's current last sale is 130.1% of the target price of $10. The total Pre-Market volume is currently 2,966,493 shares traded.
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Alcoa Inc. ( AA ) is +0.48 at $13.01, with 393,174 shares traded. AA's current last sale is 130.1% of the target price of $10. The total Pre-Market volume is currently 2,966,493 shares traded.
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AA's current last sale is 130.1% of the target price of $10. Alcoa Inc. ( AA ) is +0.48 at $13.01, with 393,174 shares traded. SIRI's current last sale is 68.67% of the target price of $4.5.
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cd602bc0-f32d-497f-aa44-9ebb892fef7e
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1153.0
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2014-04-09 00:00:00 UTC
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Sector Update: Financial Shares Higher Pre-Market; Consumer Portfolio up 6% on Q1 Results
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AA
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https://www.nasdaq.com/articles/sector-update-financial-shares-higher-pre-market-consumer-portfolio-6-q1-results-2014-04
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Top Financial Shares:
JPM: -0.03%
BAC: +0.67%
WFC: +0.35%
C: +0.11%
USB: +0.02%
Financial shares were higher in pre-market trade Wednesday after Alcoa ( AA ) unofficially kicked off the first-quarter earnings season with better-than-expected results.
In financial stocks news, Consumer Portfolio Services ( CPSS ) was more than 6% higher in pre-market trade after the company reported better-than-expected financial results for Q1.
The specialty finance company reported Q1 earnings of $6.7 million, or $0.21 per share, compared with the prior-year period's $3.8 million, or $0.12 per share. Revenue was $68.1 million, up 24.8% from $54.6 million in the same quarter last year.
Analysts polled by Capital IQ were expecting EPS of $0.19 on revenues of $60.85 million.
And, Credit Suisse ( CS ) was down about 0.2% at $32.21 as JPMorgan downgraded the stock to Underweight from Neutral.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Financial shares were higher in pre-market trade Wednesday after Alcoa ( AA ) unofficially kicked off the first-quarter earnings season with better-than-expected results. Analysts polled by Capital IQ were expecting EPS of $0.19 on revenues of $60.85 million. And, Credit Suisse ( CS ) was down about 0.2% at $32.21 as JPMorgan downgraded the stock to Underweight from Neutral.
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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. Financial shares were higher in pre-market trade Wednesday after Alcoa ( AA ) unofficially kicked off the first-quarter earnings season with better-than-expected results. In financial stocks news, Consumer Portfolio Services ( CPSS ) was more than 6% higher in pre-market trade after the company reported better-than-expected financial results for Q1.
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Financial shares were higher in pre-market trade Wednesday after Alcoa ( AA ) unofficially kicked off the first-quarter earnings season with better-than-expected results. In financial stocks news, Consumer Portfolio Services ( CPSS ) was more than 6% higher in pre-market trade after the company reported better-than-expected financial results for Q1. The specialty finance company reported Q1 earnings of $6.7 million, or $0.21 per share, compared with the prior-year period's $3.8 million, or $0.12 per share.
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Financial shares were higher in pre-market trade Wednesday after Alcoa ( AA ) unofficially kicked off the first-quarter earnings season with better-than-expected results. The specialty finance company reported Q1 earnings of $6.7 million, or $0.21 per share, compared with the prior-year period's $3.8 million, or $0.12 per share. Revenue was $68.1 million, up 24.8% from $54.6 million in the same quarter last year.
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63a503a4-07a4-4d69-8dd5-6b04f639281d
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1154.0
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2014-04-09 00:00:00 UTC
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Sector Update: Financials
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AA
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https://www.nasdaq.com/articles/sector-update-financials-2014-04-09
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Financial shares were higher in pre-market trade Wednesday after Alcoa ( AA ) unofficially kicked off the first-quarter earnings season with better-than-expected results.
In financial stocks news, Consumer Portfolio Services ( CPSS ) was more than 6% higher in pre-market trade after the company reported better-than-expected financial results for Q1.
The specialty finance company reported Q1 earnings of $6.7 million, or $0.21 per share, compared with the prior-year period's $3.8 million, or $0.12 per share. Revenue was $68.1 million, up 24.8% from $54.6 million in the same quarter last year.
Analysts polled by Capital IQ were expecting EPS of $0.19 on revenues of $60.85 million.
And, Credit Suisse ( CS ) was down about 0.2% at $32.21 as JPMorgan downgraded the stock to Underweight from Neutral.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Financial shares were higher in pre-market trade Wednesday after Alcoa ( AA ) unofficially kicked off the first-quarter earnings season with better-than-expected results. Analysts polled by Capital IQ were expecting EPS of $0.19 on revenues of $60.85 million. And, Credit Suisse ( CS ) was down about 0.2% at $32.21 as JPMorgan downgraded the stock to Underweight from Neutral.
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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. Financial shares were higher in pre-market trade Wednesday after Alcoa ( AA ) unofficially kicked off the first-quarter earnings season with better-than-expected results. In financial stocks news, Consumer Portfolio Services ( CPSS ) was more than 6% higher in pre-market trade after the company reported better-than-expected financial results for Q1.
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Financial shares were higher in pre-market trade Wednesday after Alcoa ( AA ) unofficially kicked off the first-quarter earnings season with better-than-expected results. In financial stocks news, Consumer Portfolio Services ( CPSS ) was more than 6% higher in pre-market trade after the company reported better-than-expected financial results for Q1. The specialty finance company reported Q1 earnings of $6.7 million, or $0.21 per share, compared with the prior-year period's $3.8 million, or $0.12 per share.
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Financial shares were higher in pre-market trade Wednesday after Alcoa ( AA ) unofficially kicked off the first-quarter earnings season with better-than-expected results. The specialty finance company reported Q1 earnings of $6.7 million, or $0.21 per share, compared with the prior-year period's $3.8 million, or $0.12 per share. Revenue was $68.1 million, up 24.8% from $54.6 million in the same quarter last year.
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1155.0
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2014-04-09 00:00:00 UTC
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Futures Grind Higher But Cautious Before Earnings, FOMC Minutes
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AA
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https://www.nasdaq.com/articles/futures-grind-higher-cautious-earnings-fomc-minutes-2014-04-09
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Stock futures were cautiously higher as investors eased back into the equity market ahead of more Q1 earnings and the March FOMC minutes. Bargain-hunting in tech and social-media stocks coupled with upbeat earnings last night from Alcoa ( AA ) were encouraging a more optimistic tone in global equity markets, but Wall Street remains spooked by overvaluations and very modest growth forecasts for Q1 earnings, leaving today's gains vulnerable to profit-taking pressure.
In corporate news, Alcoa ( AA ) beat bottom-line estimates and reaffirmed its global aluminium demand growth forecast of 7.0%. Toyota ( TM ) is reportedly recalling 6.4 million vehicles due to faulty parts, and Comcast ( CMCSA ) and Time Warner Cable ( TWC ) head to Capitol Hill today to convince lawmakers to approve their $45 billion merger.
Data for today includes February wholesale inventories, expected to increase 0.6%. The FOMC minutes will be released at 2:00ET followed at 3:30ET by a speech from Chicago Fed President Charles Evans.
-Dow Jones Industrial up 0.38%
-S&P 500 futures up 0.28%
-Nasdaq 100 futures up 0.46%
SENTIMENT
Nikkei down 2.10%
Hang Seng up 1.09%
Shanghai Composite up 0.74%
FTSE-100 up 0.73%
DAX-30 up 0.23%
PRE-MARKET SECTOR WATCH
(+) Large cap tech: higher
(+) Chip stocks: higher
(+) Software stocks: higher
(+) Hardware stocks: higher
(+) Internet stocks: higher
(+/-) Drug stocks: mixed
(+) Financial stocks: higher
(+/-) Retail stocks: flat
(+) Industrial stocks: higher
(+) Airlines: higher
(-) Autos lower
UPSIDE MOVERS:
(+) MNGA (+6.45%) Filed a new patent protecting new methods of applying its MagneGas natural-gas alternative to existing hydrocarbons and other materials.
(+) CTCT (+16.24%) Set Q1 and FY 2014 revenue outlook above street estimates.
(+) APP (+10.42%) Swiss firm FiveT Capital is helping APP improve its finances by trying to lower the interest rate on the retailer's debt
DOWNSIDE MOVERS:
(-) HALO (-3.38%) Clinical hold by FDA of PEGPH20 pancreatic cancer trial
(-) ISRG (-9.46%) Company said Q1 revenue will fall 24% from a year earlier to $465 million, compared with the consensus estimate of $536 million
(-) GM (-1.42%) Downgraded by Morgan Stanley to an underweight from equalweight
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Bargain-hunting in tech and social-media stocks coupled with upbeat earnings last night from Alcoa ( AA ) were encouraging a more optimistic tone in global equity markets, but Wall Street remains spooked by overvaluations and very modest growth forecasts for Q1 earnings, leaving today's gains vulnerable to profit-taking pressure. In corporate news, Alcoa ( AA ) beat bottom-line estimates and reaffirmed its global aluminium demand growth forecast of 7.0%. Stock futures were cautiously higher as investors eased back into the equity market ahead of more Q1 earnings and the March FOMC minutes.
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Bargain-hunting in tech and social-media stocks coupled with upbeat earnings last night from Alcoa ( AA ) were encouraging a more optimistic tone in global equity markets, but Wall Street remains spooked by overvaluations and very modest growth forecasts for Q1 earnings, leaving today's gains vulnerable to profit-taking pressure. In corporate news, Alcoa ( AA ) beat bottom-line estimates and reaffirmed its global aluminium demand growth forecast of 7.0%. (+) Large cap tech: higher (+) Chip stocks: higher (+) Software stocks: higher (+) Hardware stocks: higher (+) Internet stocks: higher (+/-) Drug stocks: mixed (+) Financial stocks: higher (+/-) Retail stocks: flat (+) Industrial stocks: higher (+) Airlines: higher (-) Autos lower
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Bargain-hunting in tech and social-media stocks coupled with upbeat earnings last night from Alcoa ( AA ) were encouraging a more optimistic tone in global equity markets, but Wall Street remains spooked by overvaluations and very modest growth forecasts for Q1 earnings, leaving today's gains vulnerable to profit-taking pressure. In corporate news, Alcoa ( AA ) beat bottom-line estimates and reaffirmed its global aluminium demand growth forecast of 7.0%. (+) Large cap tech: higher (+) Chip stocks: higher (+) Software stocks: higher (+) Hardware stocks: higher (+) Internet stocks: higher (+/-) Drug stocks: mixed (+) Financial stocks: higher (+/-) Retail stocks: flat (+) Industrial stocks: higher (+) Airlines: higher (-) Autos lower
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Bargain-hunting in tech and social-media stocks coupled with upbeat earnings last night from Alcoa ( AA ) were encouraging a more optimistic tone in global equity markets, but Wall Street remains spooked by overvaluations and very modest growth forecasts for Q1 earnings, leaving today's gains vulnerable to profit-taking pressure. In corporate news, Alcoa ( AA ) beat bottom-line estimates and reaffirmed its global aluminium demand growth forecast of 7.0%. Stock futures were cautiously higher as investors eased back into the equity market ahead of more Q1 earnings and the March FOMC minutes.
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1156.0
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2014-04-09 00:00:00 UTC
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#PreMarket Primer: Wednesday, April 9: John Kerry Accuses Russia Of Stirring Trouble In Ukraine
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https://www.nasdaq.com/articles/premarket-primer-wednesday-april-9-john-kerry-accuses-russia-stirring-trouble-ukraine-2014
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Tension between the West and Russia is at an all time high as accusations fly about recent demonstrations in eastern Ukraine.
The Kremlin has been named as the driving force behind the protests, which are supposedly part of a larger plan to eventually send in more troops and further divide Ukraine.
On Tuesday, US Secretary of State John Kerry accused Russian special forces of creating the disturbances and warned Russia against military intervention.
In other news around the markets:
Farmers are struggling this spring after an unusually severe winter damaged their crops. Everything from fruit to wheat has been affected and could be passed on to consumers in the form of higher prices and lower supply. Wine producers are expected to take the brunt of the problems, with damage to their vines expected create long term problems. On Tuesday, the underlying tension between the US and China was exposed after Defense Secretary Chuck Hagel was sharply questioned about the US' position in the ongoing territorial disputes between China, Japan and the Philippines. Chinese officers at the National Defense University have accused the US of creating problems due to fears that China will grow too large, but Hagel said the US was committed to standing by its allies and had no interest in restricting China's growth. Researchers have discovered that a web encryption tool used by several large companies is flawed and could expose user data to outside parties. Heartbleed, the bug in question, may have affected two thirds of the internet's active websites. The search for Malaysia Airlines missing jet found renewed hope on Wednesday after Australian officials said they detected a "ping" signal from the plane's black box recorder. After searching for more than a month, the officials are still unsure about the exact location of the plane and are scouring a remote area of the Indian Ocean in the hopes of turning up some sort of wreckage.
Asian Markets
Asian markets were mostly higher with the exception of the NIKKEI, which lost 2.10 percent. The Shanghai composite was up 0.33 percent, the Shenzhen composite gained 0.62 percent, the Hang Seng index rose 1.09 percent and the South Korean KOSPI was up 0.30 percent.
European Markets
European markets were up across the board on Wednesday; the UK's FTSE was up 0.76 percent and the eurozone's STOXX 600 rose 0.63 percent. The German DAX was up 0.48 percent, France's CAC 40 rose 0.53 percent and the Spanish IBEX increased 0.81 percent.
Commodities
Energy futures fell on Wednesday, Brent futures were down 0.34 percent and WTI futures lost 0.42 percent. Gold gained 0.89 percent, silver lost 0.81 percent and industrial metals were mixed with copper down 0.56 percent and zinc up 1.25 percent.
Currencies
In currency markets the dollar picked up, gaining 0.30 percent against the yen, 0.12 percent against the franc and 0.10 percent against the pound. They yen was on the decline with a 0.26 percent loss against the euro and a 0.49 percent loss against the Australian dollar.
Earnings
Notable earnings released on Tuesday included:
Alcoa Inc. (NYSE: AA ) reported first quarter EPS of $0.09 on revenue of $5.45 billion, compared to last year's EPS of $0.11 on revenue of $5.83 billion. WD-40 Company (NASDAQ: WDFC ) is expected to report second quarter EPS of $0.67 on revenue of $94.20 million, compared to last year's loss of $0.66 on revenue of $86.71 million.
Pre-Market Movers
Stocks moving in the Premarket included:
Alcoa Inc. (NYSE: AA ) gained 3.59 percent in premarket trade after losing 3.91 percent over the past five days. Johnson & Johnson (NYSE: JNJ ) was up 0.42 percent in premarket trade after gaining 0.17 percent on Tuesday. General Motors Co (NYSE: GM ) was down 1.82 percent in premarket trade after gaining 0.55 percent over the past five days. Verizon Communications (NYSE: VZ ) fell 0.29 percent in premarket trade after choppy trading took the stock up 0.96 percent over the past week.
Earnings
Notable earnings releases expected on Wednesday include:
Progressive Corporation (NYSE: PGR ) is expected to report first quarter EPS of $0.40 on revenue of $4.62 billion, compared to last year's EPS of $0.42 on revenue of $4.45 billion. Bed Bath & Beyond Inc. (NASDAQ: BBBY ) is expected to report fourth quarter EPS of $1.61 on revenue of $3.22 billion, compared to last year's EPS of $1.68 on revenue of $3.40 billion. Constellation Brands Inc. (NYSE: STZ ) is expected to report fourth quarter EPS of $0.76 on revenue of $1.28 billion, compared to last year's EPS of $0.47 on revenue of $696.00 million.
Economics
Trade balance data will make up the majority of Wednesday'seconomic calendarwith import and export data being released by China, South Korea, Germany and the UK. Other notable economic releases will include US oil inventory data and the Australian unemployment rate.
For a recap of Tuesday's market action, click .
Tune into Benzinga's #PreMarket Prep show with Dennis Dick and Joel Elconin here .
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Free Trading Education - Check out the free events taking place on Marketfy this week. Spaces are limited. Sign up today.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Earnings Notable earnings released on Tuesday included: Alcoa Inc. (NYSE: AA ) reported first quarter EPS of $0.09 on revenue of $5.45 billion, compared to last year's EPS of $0.11 on revenue of $5.83 billion. Pre-Market Movers Stocks moving in the Premarket included: Alcoa Inc. (NYSE: AA ) gained 3.59 percent in premarket trade after losing 3.91 percent over the past five days. On Tuesday, US Secretary of State John Kerry accused Russian special forces of creating the disturbances and warned Russia against military intervention.
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Earnings Notable earnings released on Tuesday included: Alcoa Inc. (NYSE: AA ) reported first quarter EPS of $0.09 on revenue of $5.45 billion, compared to last year's EPS of $0.11 on revenue of $5.83 billion. Pre-Market Movers Stocks moving in the Premarket included: Alcoa Inc. (NYSE: AA ) gained 3.59 percent in premarket trade after losing 3.91 percent over the past five days. Earnings Notable earnings releases expected on Wednesday include: Progressive Corporation (NYSE: PGR ) is expected to report first quarter EPS of $0.40 on revenue of $4.62 billion, compared to last year's EPS of $0.42 on revenue of $4.45 billion.
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Earnings Notable earnings released on Tuesday included: Alcoa Inc. (NYSE: AA ) reported first quarter EPS of $0.09 on revenue of $5.45 billion, compared to last year's EPS of $0.11 on revenue of $5.83 billion. Pre-Market Movers Stocks moving in the Premarket included: Alcoa Inc. (NYSE: AA ) gained 3.59 percent in premarket trade after losing 3.91 percent over the past five days. The Shanghai composite was up 0.33 percent, the Shenzhen composite gained 0.62 percent, the Hang Seng index rose 1.09 percent and the South Korean KOSPI was up 0.30 percent.
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Earnings Notable earnings released on Tuesday included: Alcoa Inc. (NYSE: AA ) reported first quarter EPS of $0.09 on revenue of $5.45 billion, compared to last year's EPS of $0.11 on revenue of $5.83 billion. Pre-Market Movers Stocks moving in the Premarket included: Alcoa Inc. (NYSE: AA ) gained 3.59 percent in premarket trade after losing 3.91 percent over the past five days. Gold gained 0.89 percent, silver lost 0.81 percent and industrial metals were mixed with copper down 0.56 percent and zinc up 1.25 percent.
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1157.0
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2014-04-08 00:00:00 UTC
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After Hours Most Active for Apr 8, 2014 : CX, AA, SPLS, SIRI, MYL, CMCSK, QQQ, CMCSA
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AA
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https://www.nasdaq.com/articles/after-hours-most-active-apr-8-2014-cx-aa-spls-siri-myl-cmcsk-qqq-cmcsa-2014-04-08
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The NASDAQ 100 After Hours Indicator is up .28 to 3,538.51. The total After hours volume is currently 37,648,807 shares traded.
The following are the most active stocks for the after hours session :
Cemex S.A.B. de C.V. ( CX ) is -0.027 at $13.18, with 3,535,164 shares traded. As reported by Zacks, the current mean recommendation for CX is in the "buy range".
Alcoa Inc. ( AA ) is +0.35 at $12.88, with 1,917,268 shares traded. Over the last four weeks they have had 4 up revisions for the earnings forecast, for the fiscal quarter ending Mar 2014. The consensus EPS forecast is $0.05. RTT News Reports: Alcoa Q1 Adj. Profit Tops View - Quick Facts
Staples, Inc. ( SPLS ) is unchanged at $12.22, with 1,774,464 shares traded. SPLS's current last sale is 106.26% of the target price of $11.5.
Sirius XM Holdings Inc. ( SIRI ) is +0.005 at $3.07, with 1,537,446 shares traded. SIRI's current last sale is 68.22% of the target price of $4.5.
Mylan Inc. ( MYL ) is unchanged at $47.64, with 1,022,777 shares traded. As reported by Zacks, the current mean recommendation for MYL is in the "buy range".
Comcast Corporation ( CMCSK ) is -0.1144 at $47.57, with 894,656 shares traded. As reported by Zacks, the current mean recommendation for CMCSK is in the "strong buy range".
PowerShares QQQ Trust, Series 1 ( QQQ ) is -0.04 at $86.30, with 720,251 shares traded. This represents a 29.04% increase from its 52 Week Low.
Comcast Corporation ( CMCSA ) is +0.15 at $49.00, with 649,020 shares traded. As reported by Zacks, the current mean recommendation for CMCSA is in the "buy range".
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Alcoa Inc. ( AA ) is +0.35 at $12.88, with 1,917,268 shares traded. Over the last four weeks they have had 4 up revisions for the earnings forecast, for the fiscal quarter ending Mar 2014. Profit Tops View - Quick Facts Staples, Inc. ( SPLS ) is unchanged at $12.22, with 1,774,464 shares traded.
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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 Inc. ( AA ) is +0.35 at $12.88, with 1,917,268 shares traded. As reported by Zacks, the current mean recommendation for CX is in the "buy range".
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Alcoa Inc. ( AA ) is +0.35 at $12.88, with 1,917,268 shares traded. As reported by Zacks, the current mean recommendation for CX is in the "buy range". Over the last four weeks they have had 4 up revisions for the earnings forecast, for the fiscal quarter ending Mar 2014.
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Alcoa Inc. ( AA ) is +0.35 at $12.88, with 1,917,268 shares traded. de C.V. ( CX ) is -0.027 at $13.18, with 3,535,164 shares traded. Over the last four weeks they have had 4 up revisions for the earnings forecast, for the fiscal quarter ending Mar 2014.
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6608b2ab-d436-4605-b488-757d127031a4
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1158.0
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2014-04-08 00:00:00 UTC
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Stock Market News for April 08, 2014 - Market News
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AA
|
https://www.nasdaq.com/articles/stock-market-news-for-april-08-2014-market-news-2014-04-08
|
nan
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nan
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Selling pressure in technology and momentum stocks dragged benchmarks down on Monday and the S&P 500 closed in the red for the year. Separately, biopharmaceutical company Pfizer weighed heavily on the Dow. The day's economic report on consumer credit hardly influenced investors and they are now focusing on first quarter earnings reports.
For a look at the issues currently facing the markets, make sure to read today's Ahead of Wall Street article
The Dow Jones Industrial Average (DJI) dropped 1% to close Monday's trading session at 16,245.87. The Standard & Poor (S&P 500) declined 1.1% to finish at 1,845.04. The tech-laden Nasdaq Composite Index plunged 1.2% to 4,079.75. The fear-gauge CBOE Volatility Index (VIX) surged 11.5% to settle at 15.57. Total volume for the day was roughly 7.5 billion shares, higher than this month's average of 6.6 billion. Advancing stocks were outnumbered by declining stocks on the NYSE. For 27% stocks that advanced, 70% declined.
The S&P fell below the key technical level of 1,850. The Dow and S&P 500 suffered their biggest three-day declines since Jan 27 this year. The Nasdaq has now dropped 4.6% over the last three sessions, its steepest three-day decline since November 2011.
Declines in momentum stocks had a negative impact on the benchmarks. Shares of momentum stocks such as electric car maker Tesla Motors, Inc. (NASDAQ: TSLA ) and Internet radio service provider Pandora Media, Inc. (NYSE: P ) plummeted 2.2% and 4.9%, respectively.
Internet stocks suffered heavy losses yesterday. Online retailer Amazon.com Inc. (NASDAQ: AMZN ), online travel company TripAdvisor Inc. (NASDAQ: TRIP ) and The Priceline Group Inc. (NASDAQ: PCLN ) plunged 1.6%, 2.7% and 0.7%, respectively. Yahoo! Inc. (NASDAQ: YHOO ) and Google Inc. (NASDAQ: GOOG ) dropped 3.5% and 0.9%, respectively. Also, shares of Apple Inc. (NASDAQ: AAPL ), the largest component of both the Nasdaq Composite Index and S&P 500, plunged 1.6%. Overall, the Technology Select Sector SPDR (XLK) decreased 0.8%.
Top holdings from the Consumer Discretionary sector such as The Walt Disney Company (NYSE: DIS ), Comcast Corporation (NASDAQ: CMCSA ), The Home Depot, Inc. (NYSE: HD ) and McDonald's Corp. (NYSE: MCD ) dropped 1.6%, 2.2%, 2% and 0.9%, respectively. Overall, the Consumer Discretionary Select Sector SPDR (XLY) fell 1.9%.
Pfizer Inc. (NYSE: PFE ) led the decline among the Dow components. Shares of Pfizer were down almost 3% after its breast-cancer drug palbociclib did well in clinical trials but the overall survival benefits was not yet revealed to be statistically significant. Overall, the Health Care Select Sector SPDR (XLV) dropped 1%.
On the economic front, the Board of Governors of the Federal Reserve System reported that consumer credit increased by $16.5 billion in February from previous month's figure of $13.8 billion. This increase in consumer credit was more than the consensus expectations of an increase by $14 billion. Non-revolving credit increased at an annual rate of 10% but the revolving credit declined at an annual rate of 3.5%. In February, consumer credit increased at a seasonally adjusted annual rate of 6.5%. Consumer credit is considered a good indicator of the potential future spending levels.
However, economic data hardly restricted the day's losses. Investors are now also focused on the earnings results. Earnings season is about to start with aluminum maker Alcoa Inc. (NYSE: AA ) announcing results on Tuesday. Financial behemoths JPMorgan Chase & Co. (NYSE: JPM ) and Wells Fargo & Company (NYSE: WFC ), as well as retailer Bed Bath & Beyond Inc. (NASDAQ: BBBY ) are also scheduled to report this week.
ALCOA INC (AA): Free Stock Analysis Report
APPLE INC (AAPL): Free Stock Analysis Report
AMAZON.COM INC (AMZN): Free Stock Analysis Report
COMCAST CORP A (CMCSA): Free Stock Analysis Report
DISNEY WALT (DIS): Free Stock Analysis Report
HOME DEPOT (HD): Free Stock Analysis Report
JPMORGAN CHASE (JPM): Free Stock Analysis Report
MCDONALDS CORP (MCD): Free Stock Analysis Report
PANDORA MEDIA (P): Free Stock Analysis Report
PRICELINE.COM (PCLN): Free Stock Analysis Report
PFIZER INC (PFE): Free Stock Analysis Report
TRIPADVISOR INC (TRIP): Free Stock Analysis Report
TESLA MOTORS (TSLA): Free Stock Analysis Report
YAHOO! INC (YHOO): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Also, shares of Apple Inc. (NASDAQ: AAPL ), the largest component of both the Nasdaq Composite Index and S&P 500, plunged 1.6%. Earnings season is about to start with aluminum maker Alcoa Inc. (NYSE: AA ) announcing results on Tuesday. ALCOA INC (AA): Free Stock Analysis Report APPLE INC (AAPL): Free Stock Analysis Report AMAZON.COM INC (AMZN): Free Stock Analysis Report COMCAST CORP A (CMCSA): Free Stock Analysis Report DISNEY WALT (DIS): Free Stock Analysis Report HOME DEPOT (HD): Free Stock Analysis Report JPMORGAN CHASE (JPM): Free Stock Analysis Report MCDONALDS CORP (MCD): Free Stock Analysis Report PANDORA MEDIA (P): Free Stock Analysis Report PRICELINE.COM (PCLN): Free Stock Analysis Report PFIZER INC (PFE): Free Stock Analysis Report TRIPADVISOR INC (TRIP): Free Stock Analysis Report TESLA MOTORS (TSLA): Free Stock Analysis Report YAHOO!
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ALCOA INC (AA): Free Stock Analysis Report APPLE INC (AAPL): Free Stock Analysis Report AMAZON.COM INC (AMZN): Free Stock Analysis Report COMCAST CORP A (CMCSA): Free Stock Analysis Report DISNEY WALT (DIS): Free Stock Analysis Report HOME DEPOT (HD): Free Stock Analysis Report JPMORGAN CHASE (JPM): Free Stock Analysis Report MCDONALDS CORP (MCD): Free Stock Analysis Report PANDORA MEDIA (P): Free Stock Analysis Report PRICELINE.COM (PCLN): Free Stock Analysis Report PFIZER INC (PFE): Free Stock Analysis Report TRIPADVISOR INC (TRIP): Free Stock Analysis Report TESLA MOTORS (TSLA): Free Stock Analysis Report YAHOO! Also, shares of Apple Inc. (NASDAQ: AAPL ), the largest component of both the Nasdaq Composite Index and S&P 500, plunged 1.6%. Earnings season is about to start with aluminum maker Alcoa Inc. (NYSE: AA ) announcing results on Tuesday.
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ALCOA INC (AA): Free Stock Analysis Report APPLE INC (AAPL): Free Stock Analysis Report AMAZON.COM INC (AMZN): Free Stock Analysis Report COMCAST CORP A (CMCSA): Free Stock Analysis Report DISNEY WALT (DIS): Free Stock Analysis Report HOME DEPOT (HD): Free Stock Analysis Report JPMORGAN CHASE (JPM): Free Stock Analysis Report MCDONALDS CORP (MCD): Free Stock Analysis Report PANDORA MEDIA (P): Free Stock Analysis Report PRICELINE.COM (PCLN): Free Stock Analysis Report PFIZER INC (PFE): Free Stock Analysis Report TRIPADVISOR INC (TRIP): Free Stock Analysis Report TESLA MOTORS (TSLA): Free Stock Analysis Report YAHOO! Also, shares of Apple Inc. (NASDAQ: AAPL ), the largest component of both the Nasdaq Composite Index and S&P 500, plunged 1.6%. Earnings season is about to start with aluminum maker Alcoa Inc. (NYSE: AA ) announcing results on Tuesday.
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Also, shares of Apple Inc. (NASDAQ: AAPL ), the largest component of both the Nasdaq Composite Index and S&P 500, plunged 1.6%. Earnings season is about to start with aluminum maker Alcoa Inc. (NYSE: AA ) announcing results on Tuesday. ALCOA INC (AA): Free Stock Analysis Report APPLE INC (AAPL): Free Stock Analysis Report AMAZON.COM INC (AMZN): Free Stock Analysis Report COMCAST CORP A (CMCSA): Free Stock Analysis Report DISNEY WALT (DIS): Free Stock Analysis Report HOME DEPOT (HD): Free Stock Analysis Report JPMORGAN CHASE (JPM): Free Stock Analysis Report MCDONALDS CORP (MCD): Free Stock Analysis Report PANDORA MEDIA (P): Free Stock Analysis Report PRICELINE.COM (PCLN): Free Stock Analysis Report PFIZER INC (PFE): Free Stock Analysis Report TRIPADVISOR INC (TRIP): Free Stock Analysis Report TESLA MOTORS (TSLA): Free Stock Analysis Report YAHOO!
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a6b35626-bf11-4bd8-b17d-dc77c989ab58
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1159.0
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2014-04-08 00:00:00 UTC
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Momentum Stocks or a Momentum Market? - Ahead of Wall Street
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AA
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https://www.nasdaq.com/articles/momentum-stocks-or-momentum-market-ahead-wall-street-2014-04-08
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nan
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nan
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Tuesday, April 8, 2014
Stocks are expected to start today's session on the weak side, but the negative momentum from the preceding two sessions may not fully carry through given the essentially empty docket.
There is nothing on theeconomic calendarand the day's earnings announcement from Alcoa ( AA ) wouldn't arrive till after the regular trading session. The Q1 earnings season doesn't get into high gear till next week, though we do have J.P. Morgan ( JPM ) and Wells Fargo ( WFC ) reporting results at the end of the week.
Stocks have been down just a couple of sessions and the broader indexes aren't that far from record levels. But there is palpable anxiety all around, even though most traders are trying to reassure themselves that is nothing more than a modest pullback that will reverse soon enough. The popular narrative in the financial media is overly focused on the so-called momentum stocks in the biotech and tech sectors and how the loss of mojo in those stocks is starting to bleed into the broader market.
I don't subscribe to that explanation as I all along saw the entire market in some sort of a momentum uptrend. I have been, and still remain, unconvinced of the market's strong run last year as I didn't see enough fundamental support for those gains. The most important fundamental support for stocks is earnings and the earnings picture lately has been inconsistent with a market in record territory.
Markets are forward-looking, with current prices reflecting future expectations. Not much is expected from the Q1 earnings season that Alcoa will (unofficially) kick-off this afternoon, with total earnings expected to have declined from the year-earlier level. But expectations for the coming quarters remain elevated, with growth expected to resume in Q2 and ramp-up from the second half onwards.
For those expectations to hold and provide support to this market, we need companies to reverse course and start giving out reassuring guidance. The estimate revisions trend has overwhelmingly been negative for almost two years now, but the momentum market shrugged that key fundamental negative in hopes of a future turnaround. Less than favorable guidance on the coming Q1 earnings calls will cause estimates for Q2 and beyond to start coming down in the next few weeks.
I find it hard to justify stocks to be going up when earnings estimates are coming down. Let's see what's in store for us this earnings season.
Sheraz Mian
Director of Research
ALCOA INC (AA): Free Stock Analysis Report
JPMORGAN CHASE (JPM): Free Stock Analysis Report
WELLS FARGO-NEW (WFC): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
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
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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There is nothing on theeconomic calendarand the day's earnings announcement from Alcoa ( AA ) wouldn't arrive till after the regular trading session. Sheraz Mian Director of Research ALCOA INC (AA): Free Stock Analysis Report JPMORGAN CHASE (JPM): Free Stock Analysis Report WELLS FARGO-NEW (WFC): Free Stock Analysis Report To read this article on Zacks.com click here. I have been, and still remain, unconvinced of the market's strong run last year as I didn't see enough fundamental support for those gains.
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Sheraz Mian Director of Research ALCOA INC (AA): Free Stock Analysis Report JPMORGAN CHASE (JPM): Free Stock Analysis Report WELLS FARGO-NEW (WFC): Free Stock Analysis Report To read this article on Zacks.com click here. There is nothing on theeconomic calendarand the day's earnings announcement from Alcoa ( AA ) wouldn't arrive till after the regular trading session. Click to get this free report The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Sheraz Mian Director of Research ALCOA INC (AA): Free Stock Analysis Report JPMORGAN CHASE (JPM): Free Stock Analysis Report WELLS FARGO-NEW (WFC): Free Stock Analysis Report To read this article on Zacks.com click here. There is nothing on theeconomic calendarand the day's earnings announcement from Alcoa ( AA ) wouldn't arrive till after the regular trading session. The most important fundamental support for stocks is earnings and the earnings picture lately has been inconsistent with a market in record territory.
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There is nothing on theeconomic calendarand the day's earnings announcement from Alcoa ( AA ) wouldn't arrive till after the regular trading session. Sheraz Mian Director of Research ALCOA INC (AA): Free Stock Analysis Report JPMORGAN CHASE (JPM): Free Stock Analysis Report WELLS FARGO-NEW (WFC): Free Stock Analysis Report To read this article on Zacks.com click here. Stocks have been down just a couple of sessions and the broader indexes aren't that far from record levels.
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b453c214-56a0-4afd-9cdb-9af45b32c2b5
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1160.0
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2014-04-08 00:00:00 UTC
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Three Rules For Earnings Season
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AA
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https://www.nasdaq.com/articles/three-rules-earnings-season-2014-04-08
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nan
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nan
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Today, after the market closes we will see what many regard as the start of earnings season; Alcoa (AA) will release their Q1 2014 earnings report. AA has long been regarded as a bellwether stock, giving early indications of the health of the economy as a whole. In today’s tech heavy world the performance of an aluminum company may seem a little less significant, but I suspect that we will, if nothing else, begin a recurring theme today that is very dear to my heart as an Englishman: there will be a lot of discussion of the weather.
These weather issues will no doubt complicate the interpretation of revenue and earnings numbers for the last quarter throughout the season. There will undoubtedly be cases in which the snowstorms of January and February really do make a material, albeit temporary, difference to the top line, but there will probably be more where CEOs and CFOs use it as an excuse for any poor performance or perceived weakness.
For individual traders and investors this is likely to be a trying time as they attempt to sort the truth from the excuse. Even if they have a finely-tuned excuse detector and mange to do so, they still have to consider the possible effects of last quarter’s performance when taken as a whole, and what it means for Fed policy.
Consensus is now that QE has been successful, at least in market terms. It’s hard to argue otherwise when the S&P 500 has more than doubled since the Fed began expanding its balance sheet, but the distortion of the market that this has caused results in more uncertainty than ever. Every piece of news has to be considered, not just in and of itself, but also in terms of its likely impact on easy money. Good news can quickly become bad if it hastens the exit from QE or the return to normalized interest rates.
It looks, then, as if this may be a confusing and complex earnings season. Complexity is nothing new in financial markets and I am always a little suspicious of commentators who attempt to prevent things as overly simple. If it were always straightforward traders wouldn’t be paid the big bucks and we would all make the right decision all of the time, but they do and we don’t. That said, while I don’t deny the complexity, there are a few basic rules that an individual can follow at times like this that will give you a decent chance of making more good decisions than bad.
Don't Read Too Much Into One Result: This is not a quarter to be reaching broad conclusions from any one company’s performance. Just because one company in a sector or industry has a disappointing quarter doesn’t mean that the same will apply across the board. Although it is likely that all of those reporting will cite the weather factor it will impact each individual company’s performance differently and the implications for the big picture will be muted. The Fed will not look at individual results, but rather any distinct trend that may emerge and you would do well to do the same. Similarly, even if results are a bit disappointing for a company that you like you may have to ride out some short term volatility if the basic case for your enthusiasm remains intact. Don’t make any hasty decisions.
Trade The Reaction, Not The News: Accept the fact that as an individual trader or investor you aren’t going to beat the floor traders and computers in reacting to any announcement. Let the initial response happen and then assess the situation. How the market responds to news often tells us more about what is coming than the news itself. If traders look only for signs of weakness then we are in for a rough couple of weeks, but if good news is being ignored, then there will be plenty of opportunity for both long and short term investment in stocks that come under pressure.
Watch Capital Expenditure: Over the last few years the market has done fine but it has been hard to get massively enthusiastic for an economy that has been grinding along at around 2.5% growth and still has above average unemployment. If things really are improving and demand is truly picking up then companies will begin to spend some of the cash that they have been holding to meet that increasing demand. If, on the other hand, there is evidence that firms are looking to add to the bottom line by squeezing even more cost savings out of their business then my overall bullish stance will be moderated somewhat and looking to take some profit from stocks that react positively to this round of numbers will be a prudent course of action.
Really, what it all comes down to is “Wait and see.” If you are reading these pages then you are probably somebody who takes an active interest in their investments. One of the biggest mistakes that those of us who do that make is to react to everything we hear. The next few weeks will see a ton of information surface, but not all of it will be reliable as a long term indicator. By looking at overall trends rather than individual performances, waiting for the market to react before acting yourself and keeping a wary eye on capital expenditure you should be able to survive and even prosper over time.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Today, after the market closes we will see what many regard as the start of earnings season; Alcoa (AA) will release their Q1 2014 earnings report. AA has long been regarded as a bellwether stock, giving early indications of the health of the economy as a whole. There will undoubtedly be cases in which the snowstorms of January and February really do make a material, albeit temporary, difference to the top line, but there will probably be more where CEOs and CFOs use it as an excuse for any poor performance or perceived weakness.
|
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Today, after the market closes we will see what many regard as the start of earnings season; Alcoa (AA) will release their Q1 2014 earnings report. AA has long been regarded as a bellwether stock, giving early indications of the health of the economy as a whole.
|
Today, after the market closes we will see what many regard as the start of earnings season; Alcoa (AA) will release their Q1 2014 earnings report. AA has long been regarded as a bellwether stock, giving early indications of the health of the economy as a whole. That said, while I don’t deny the complexity, there are a few basic rules that an individual can follow at times like this that will give you a decent chance of making more good decisions than bad.
|
Today, after the market closes we will see what many regard as the start of earnings season; Alcoa (AA) will release their Q1 2014 earnings report. AA has long been regarded as a bellwether stock, giving early indications of the health of the economy as a whole. For individual traders and investors this is likely to be a trying time as they attempt to sort the truth from the excuse.
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bd35cd8b-c743-4493-aa49-4209ea0d2b98
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1161.0
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2014-04-08 00:00:00 UTC
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Shorts Historically See Bullish Trade off Alcoa's Earnings-Driven After-Hours Moves
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AA
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https://www.nasdaq.com/articles/shorts-historically-see-bullish-trade-alcoas-earnings-driven-after-hours-moves-2014-04-08
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nan
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nan
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Alcoa ( AA ) is due with its Q1 results in tonight's after-hours. The stock is historically a short favorite when it comes to adding to downside momentum in the wake of its earnings-driven after-hours declines, as well as narrowing its after-hours gains in next-day action.
AA has recorded an after-hours decline in 21 of the last 40 quarters we've tracked, and 13 times, or 62% of the time, that decline has widened for deeper losses by the following day's regular session close.
On the upside, AA has seen an earnings-driven after-hours gain in 19 of the 40 quarters we've tracked over the last 10 years. In 14 of those quarters, 74% of the time, the after-hours gain has narrowed or reversed into the red in the following day's regular session. Longs should be cautious in this stock. The reversal pattern on gains makes it even more appealing for shorts to check out where any potential ceiling levels may develop in tonight's after-hours.
AA is expected to report Q1 earnings of $0.05 per share on revenue of $5.55 billion, according analysts polled by Capital IQ.
Here's the historical data:
On Jan. 9, 2014, AA declined 4.4% in after-hours trade after missing on Q4 earnings but beating on revenue. The stock moved deeper in the red the next day, ending the Jan. 10 regular session off 5.4%.
On Oct. 8, 2013, AA gained 2.1% in night trade after topping Q3 expectations. The stock cut its gains slightly the next day, closing the Oct. 9 regular session up 2.0%.
On July 8, 2013, AA edged 0.1% lower in evening trade after beating on Q2 earnings and meeting revenue expectations. The stock maintained the same 0.1% decline in the close on July 9.
On April 8, 2013, AA dropped 1.3% in after-hours action after beating Q1 earnings estimates and meeting on revenue. The stock reversed course the next day, ending the April 9 regular session flat.
On Jan. 8, 2013, AA edged up 0.9% in after-hours trade after meeting Q4 earnings estimates and beating on revenue. The stock reversed direction the next day, closing the Jan. 9 regular session down 0.2%.
On Oct. 9, 2012, AA dipped 0.2% in night trade after beating on Q3 and reaffirming its forward targets. The stock added to its downside the next day, closing the Oct. 10 regular session off 4.6%.
On July 9, 2012, AA edged up 0.1% in after-hours trade after beating Q2 revenue expectations. The stock reversed sharply the next day, closing the July 10 regular session off 4.1%.
On April 10, 2012, AA advanced 5.5% in evening trade after blowing past Q1 Street expectations. The stock added modestly to its gains the next day, ending up 5.2% on April 11.
On Jan. 9, 2012, AA edged up 0.2% in after-hours action after topping Q4 expectations. The stock cut its upside slightly the next day, closing the Jan. 10 regular session up a thin 0.1%.
On Oct. 11, 2011, AA dropped 4.6% in evening trade after reporting mixed Q3 results. The stock cut its downside the next day, ending the Oct. 12 regular session off 2.4%.
On July 11, 2011, AA declined 1.3% in after-hours trade after meeting Q2 earnings estimates and beating on revenue. The stock narrowed its downside slightly the next day, ending the July 12 regular session off 1.26%.
On April 11, 2011, AA shed 3.2% in evening trade after beating earnings estimates and meeting on revenue. The stock moved deeper south the following day, closing the April 12 regular session off 6%.
On Jan. 10, 2011, AA declined 1.7% in after-hours action after beating Q4 expectations. The stock cut its downside slightly in the Jan. 11 regular session, ending Jan. 11 trade off 0.9%.
On Oct. 7, 2010, AA gained 2.5% in after-hours trade after posting better-than-expected Q3 results. The stock added to its upside the following day, closing the Oct. 8 regular session up 5.6%.
On July 12, 2010, AA advanced 3% in evening trde after topping earnings expectations. The stock lost a chunk of its gain the following day, closing the July 13 regular session up 1.2%.
On April 12, 2010, AA edged 0.4% lower after reporting a narrower year-over-year loss and just missing revenue expectations. The stock added to its downside in the April 13 regular session, ending down 1.5%.
On Jan. 11, 2010, AA shed 4.9% in after-hours trade after missing earnings expectations and beating on revenue. The stock added to its downside the following day, sliding 11% by the closing bell on Jan. 12.
On Oct. 7, 2009, AA firmed 5.6% in after-hours trade after posting an unexpected profit. The stock lost the bulk of its gains the following day, ending the Oct. 8 regular session up 1%.
On July 8, 2009, the stock gained 4% in evening trading after AA beat with Q2 results. Shares closed down 2.4% the following day.
On April 7, 2009, AA declined 3.4% in after-hours action after posting a sharp year-over-year decline in its quarterly results. It reversed direction the following day, ending the April 8 regular session up 3.4%.
On Jan. 12, 2009, AA edged down 0.6% in after-hours trade after reporting a year-over-year decline in revenue and swinging to a loss. The stock tumbled deeper in the red the next day, losing 5% by the close on Jan. 13.
On Oct. 7, 2008, AA declined 3.6% in after-hours trade after missing earnings expectations and announcing it was suspending its stock buyback. The stock tumbled lower in the Oct. 8 regular session, losing 12% by the closing bell.
On July 8, 2008, the stock gained 3.7% during evening trading as AA beat with Q2 results. The stock reversed and closed down 2.4% the next day.
On April 7, 2008, AA edged up 0.03% in after-hours trade after the company missed the Street's estimates by a penny-a-share but beat revenue estimates. The gain reversed the following day with shares ending lower by 0.7%.
On Jan. 9, 2008, the stock gained 3.2% after AA reported ahead of the Street with Q4 and FY sales. The gain was clipped to 0.6% the next day.
On Oct. 9, 2007, AA edged up 0.3% in after-hours trade after beating on sales but missing on earnings. It turned south the following day, losing 2.4% by the closing bell.
On July 9, 2007, AA dipped 0.7% in night trade after Q2 profits slipped from a year ago on lower-than-expected sales. Shares eased further the next day, closing the regular session down 1.6%.
On April 10, 2007, AA came off a trading halt and edged up 2.2% after topping Q1 estimates. However, shares could not hold onto that momentum and closed the following day session up only 0.5%.
On Jan. 9, 2007, AA gained 4.7% in the evening hours after the company reported ahead of the Street and the year-ago period with Q4 results. The stock gained 6% the next day.
On Oct. 10, 2006, AA reported improved year-over-year results but guided for sales shy of the then-current Street view. The stock declined 5.9% in after-hours trade, but narrowed a bit in the Oct. 11 regular session, ending the day down 5%.
On July 10, 2006, AA dropped 4.5% in after-hours trade when the company reported Q2 sales that missed estimates. The shares fell slightly more the following day, ending the regular session down 4.8%.
AA ramped 5.9% higher the night of April 10 after the company posted results up sharply over year ago levels. It failed to add to the upside momentum the next day but still managed to see a 3.8% rise by the close on April 11.
On Jan. 9, 2006, shares fell 3% after the company missed by 2 cents with Q4 EPS and was about in line with sales. The loss expanded modestly to 3.1% the next day.
On Oct. 10, 2005, Alcoa edged up 1.8% in evening trade after the company beat on EPS but posted revenue just shy of the Street target. It narrowed its upside slightly the next day, adding only 0.8% between the bells.
On July 7, 2005 Alcoa advanced 2.5% in after-hours trading after the company beat the Street on both revenue and earnings. It firmed even higher in the July 8 regular session, rising 4.2% by the closing bell.
On April 6, 2005 Alcoa added 2.2% in after-hours trade after the company edged out Q1 earnings estimates but came in light on the revenue side. The stock pushed higher on April 7, rising 4.9% by that day's regular session close.
On Jan. 10, 2005, Alcoa missed earnings and revenue expectations and the stock edged down 1% in that night's after-hours trade. It was hit with more aggressive downside trade on Jan. 11, ending the regular session off 2.6%.
On Oct. 7, 2004 Alcoa lost 1.4% in after-hours trade after the company reported in-line EPS but came in shy on the revenue line. The stock added to its negative momentum on Oct. 8, closing out the bell-to-bell session with a 2% decline.
Back on June 7 of 2004 Alcoa was hit for a 3.5% decline in evening play after the company missed on earnings and posted better-than-expected revenue results. The stock managed to pare its losses the next day, closing out the day session with a more modest 0.6% decline.
Finally, on April 6, 2004 Alcoa slimmed down 3.7% in night trade after the company posted revenue ahead of estimates but missed on EPS. It ended the April 7 regular session with a more aggressive 5% decline.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Alcoa ( AA ) is due with its Q1 results in tonight's after-hours. AA has recorded an after-hours decline in 21 of the last 40 quarters we've tracked, and 13 times, or 62% of the time, that decline has widened for deeper losses by the following day's regular session close. On the upside, AA has seen an earnings-driven after-hours gain in 19 of the 40 quarters we've tracked over the last 10 years.
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On July 8, 2013, AA edged 0.1% lower in evening trade after beating on Q2 earnings and meeting revenue expectations. On April 8, 2013, AA dropped 1.3% in after-hours action after beating Q1 earnings estimates and meeting on revenue. On April 12, 2010, AA edged 0.4% lower after reporting a narrower year-over-year loss and just missing revenue expectations.
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AA has recorded an after-hours decline in 21 of the last 40 quarters we've tracked, and 13 times, or 62% of the time, that decline has widened for deeper losses by the following day's regular session close. On April 7, 2008, AA edged up 0.03% in after-hours trade after the company missed the Street's estimates by a penny-a-share but beat revenue estimates. Alcoa ( AA ) is due with its Q1 results in tonight's after-hours.
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On July 8, 2009, the stock gained 4% in evening trading after AA beat with Q2 results. On July 8, 2008, the stock gained 3.7% during evening trading as AA beat with Q2 results. Alcoa ( AA ) is due with its Q1 results in tonight's after-hours.
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aa2658c2-ccd2-4588-8233-4e38db726c61
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1162.0
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2014-04-08 00:00:00 UTC
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#PreMarket Primer: Tuesday, April 8: Protests In Ukraine Worryingly Similar To What Happened In Crimea
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AA
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https://www.nasdaq.com/articles/premarket-primer-tuesday-april-8-protests-ukraine-worryingly-similar-what-happened-crimea
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nan
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nan
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As protesters in several eastern cities across Ukraine seized government buildings and called for a referendum on independence, Ukrainian leaders blamed Russia and said the protests were all part of Moscow's larger plan to send in troops and dismember the nation.
The growing tension warranted a fresh warning from the US against any Russian military intervention.
President Obama's press secretary Jay Carney claimed that evidence showing protesters had been paid indicated that the demonstrations were not started locally and rather sparked by outside forces.
US Secretary of State John Kerry is set to meet with Russian, Ukrainian and European officials within the next ten days in an attempt to diffuse the situation.
Top News
In other news around the markets:
On Monday, the US Federal Reserve agreed to give banks an extra two years to tighten up their debt holdings in order to comply with the Volcker rule, which keeps banks from holding bonds as investments. The extra time may not be enough for some banks who claim that the rule will force them to divest certain complex securities, which may result in potential losses. General Motors' image deteriorated further on Monday after an auto safety watchdog group called for a probe into the company's Chevrolet Impalas for a possible airbag defect. Many are concerned that the company may have tried to cover the defect up in light of the current faulty ignition switch issue, which has been linked to at least 13 deaths. However, GM has said it will cooperate with any further investigation into the matter. Citigroup is preparing for the possibility that the company may miss its 2015 goal for return on tangible common equity due to its failure to pass the Federal Reserve's stress tests in March. The figure is important to the company's shareholders as it is a key part of how investors compare the profitability of one bank to another. After picking up signals which were believed to have come from the black box recorder of the missing Malaysia Airlines plane over the weekend, the search has hit a roadblock as no further signals have been received. The US navy has been using advanced technology in order to locate the black box, but officials say the search is at a critical stage as they are running out of time. Most believe that the aircraft's black box has run out of batteries as it is only expected to have a 30 day lifespan.
Asian Markets
Asian markets were mostly higher on Tuesday, with the exception of the Japanese NIKKE, which lost 1.10 percent. The Shanghai composite was up 2.07 percent, the Shenzhen composite gained 0.93 percent and the Hang Seng index rose 0.99 percent.
European Markets
European markets were mixed; the UK's FTSE lost 0.22 percent, the eurozone's STOXX 600 was down 0.06 percent and the Spanish IBEX lost 0.26 percent. However the German DAX gained 0.03 percent and France's CAC40 was up 0.02 percent
Commodities
Energy futures were mixed; Brent futures gained 0.31 percent and WTI futures were down 0.09 percent. Gold lost 0.19 percent and silver was up 0.09 percent. Industrial metals were also mixed with copper up 0.23 percent but aluminum down 0.27 percent.
Currencies
Currency markets were quiet again on Tuesday; the euro gained 0.02 percent against the dollar and lost 0.01 percent against the pound. The dollar lost 0.14 percent against the yen, 0.04 percent against the pound and 0.18 percent against the Australian dollar.
Earnings
Notable earnings released on Monday included:
A Schulman, Inc (NASDAQ: SHLM ) reported second quarter EPS of $0.39 on revenue of $588.50 million, compared to last year's EPS of $0.27 on revenue of $522.37 million. Team, Inc. (NYSE: TISI ) reported third quarter EPS of $0.01 on revenue, compared to last year's loss of $0.01 on revenue of $150.98 million.
Pre-Market Movers
Stocks moving in the Premarket included:
Carnival Corp (NYSE: CCL ) gained 1.09 percent in premarket trade after falling 0.58 percent on Monday Nike Inc. (NYSE: NKE ) was up 0.62 percent in premarket trade after falling 4.10 percent over the past five days. Verizon Communications (NYSE: VZ ) was down 1.23 percent in premarket trade after gaining 1.11 percent on Monday.
Notable earnings releases expected on Tuesday include:
Alcoa Inc. (NYSE: AA ) is expected to report first quarter EPS of $0.05 on revenue of $5.56 billion, compared to last year's EPS of $0.11 on revenue of $5.83 billion. WD-40 Company (NASDAQ: WDFC ) is expected to report second quarter EPS of $0.68 on revenue of $92.30 million, compared to last year's loss of $0.66 on revenue of $86.71 million.
Economics
Tuesday'seconomic calendarwill be another quiet one with releases including the US redbook, British industrial production, British manufacturing production, the French trade balance, and the Swiss unemployment rate.
For a recap of Monday's market action, click .
Tune into Benzinga's pre-market info show with Dennis Dick and Joel Elconin here .
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Free Trading Education - Check out the free events taking place on Marketfy this week. Spaces are limited. Sign up today.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Notable earnings releases expected on Tuesday include: Alcoa Inc. (NYSE: AA ) is expected to report first quarter EPS of $0.05 on revenue of $5.56 billion, compared to last year's EPS of $0.11 on revenue of $5.83 billion. President Obama's press secretary Jay Carney claimed that evidence showing protesters had been paid indicated that the demonstrations were not started locally and rather sparked by outside forces. General Motors' image deteriorated further on Monday after an auto safety watchdog group called for a probe into the company's Chevrolet Impalas for a possible airbag defect.
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Notable earnings releases expected on Tuesday include: Alcoa Inc. (NYSE: AA ) is expected to report first quarter EPS of $0.05 on revenue of $5.56 billion, compared to last year's EPS of $0.11 on revenue of $5.83 billion. Earnings Notable earnings released on Monday included: A Schulman, Inc (NASDAQ: SHLM ) reported second quarter EPS of $0.39 on revenue of $588.50 million, compared to last year's EPS of $0.27 on revenue of $522.37 million. Pre-Market Movers Stocks moving in the Premarket included: Carnival Corp (NYSE: CCL ) gained 1.09 percent in premarket trade after falling 0.58 percent on Monday Nike Inc. (NYSE: NKE ) was up 0.62 percent in premarket trade after falling 4.10 percent over the past five days.
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Notable earnings releases expected on Tuesday include: Alcoa Inc. (NYSE: AA ) is expected to report first quarter EPS of $0.05 on revenue of $5.56 billion, compared to last year's EPS of $0.11 on revenue of $5.83 billion. European Markets European markets were mixed; the UK's FTSE lost 0.22 percent, the eurozone's STOXX 600 was down 0.06 percent and the Spanish IBEX lost 0.26 percent. However the German DAX gained 0.03 percent and France's CAC40 was up 0.02 percent Commodities Energy futures were mixed; Brent futures gained 0.31 percent and WTI futures were down 0.09 percent.
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Notable earnings releases expected on Tuesday include: Alcoa Inc. (NYSE: AA ) is expected to report first quarter EPS of $0.05 on revenue of $5.56 billion, compared to last year's EPS of $0.11 on revenue of $5.83 billion. The extra time may not be enough for some banks who claim that the rule will force them to divest certain complex securities, which may result in potential losses. European Markets European markets were mixed; the UK's FTSE lost 0.22 percent, the eurozone's STOXX 600 was down 0.06 percent and the Spanish IBEX lost 0.26 percent.
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859bea7e-725d-4221-b668-e9d273ec88f0
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1163.0
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2014-04-08 00:00:00 UTC
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Earnings Reaction History: Alcoa Inc., 50.0% Follow-Through Indicator, 3.1% Sensitive
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AA
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https://www.nasdaq.com/articles/earnings-reaction-history-alcoa-inc-500-follow-through-indicator-31-sensitive-2014-04-08
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nan
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nan
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Expected Earnings Release: 04/08/2014, After-hours
Avg. Extended-Hours Dollar Volume: $35,861,618
Alcoa Inc. ( AA ) is due to issue its quarterly earnings report in the upcoming extended-hours session. Given its history, traders can expect very active trading in the issue immediately following its quarterly earnings announcement. Historical earnings event related premarket and after-hours trading activity in AA indicates that the price change in the extended hours is likely to be of limited value in forecasting additional price movement by the following regular session close.
Last 12 Qtrs Positive Only Price Reactions
Percent of time added to extended-hours gains: 66.7%
Average next regular session additional gain: 0.9%
Over the prior three fiscal years (12 quarters), when shares of AA rose in the extended-hours session in reaction to its earnings announcement, history shows that 66.7% of the time (2 events) the stock posted additional gains in the following regular session by an average of 0.9%.
Last 12 Qtrs Negative Only Price Reactions
Percent of time added to extended-hours losses: 40%
Average next regular session additional loss: 3.3%
Over that same historical period, when shares of AA dropped in the extended-hours in reaction to its earnings announcement, history shows that 40.0% of the time (2 events) the stock dropped further, adding to the extended-hours losses by an average of 3.3% by the following regular session close.
Data provided by the MT Pro service at MTNewswires.com.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Last 12 Qtrs Positive Only Price Reactions Percent of time added to extended-hours gains: 66.7% Average next regular session additional gain: 0.9% Over the prior three fiscal years (12 quarters), when shares of AA rose in the extended-hours session in reaction to its earnings announcement, history shows that 66.7% of the time (2 events) the stock posted additional gains in the following regular session by an average of 0.9%. Last 12 Qtrs Negative Only Price Reactions Percent of time added to extended-hours losses: 40% Average next regular session additional loss: 3.3% Over that same historical period, when shares of AA dropped in the extended-hours in reaction to its earnings announcement, history shows that 40.0% of the time (2 events) the stock dropped further, adding to the extended-hours losses by an average of 3.3% by the following regular session close. Extended-Hours Dollar Volume: $35,861,618 Alcoa Inc. ( AA ) is due to issue its quarterly earnings report in the upcoming extended-hours session.
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Historical earnings event related premarket and after-hours trading activity in AA indicates that the price change in the extended hours is likely to be of limited value in forecasting additional price movement by the following regular session close. Last 12 Qtrs Positive Only Price Reactions Percent of time added to extended-hours gains: 66.7% Average next regular session additional gain: 0.9% Over the prior three fiscal years (12 quarters), when shares of AA rose in the extended-hours session in reaction to its earnings announcement, history shows that 66.7% of the time (2 events) the stock posted additional gains in the following regular session by an average of 0.9%. Last 12 Qtrs Negative Only Price Reactions Percent of time added to extended-hours losses: 40% Average next regular session additional loss: 3.3% Over that same historical period, when shares of AA dropped in the extended-hours in reaction to its earnings announcement, history shows that 40.0% of the time (2 events) the stock dropped further, adding to the extended-hours losses by an average of 3.3% by the following regular session close.
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Last 12 Qtrs Positive Only Price Reactions Percent of time added to extended-hours gains: 66.7% Average next regular session additional gain: 0.9% Over the prior three fiscal years (12 quarters), when shares of AA rose in the extended-hours session in reaction to its earnings announcement, history shows that 66.7% of the time (2 events) the stock posted additional gains in the following regular session by an average of 0.9%. Last 12 Qtrs Negative Only Price Reactions Percent of time added to extended-hours losses: 40% Average next regular session additional loss: 3.3% Over that same historical period, when shares of AA dropped in the extended-hours in reaction to its earnings announcement, history shows that 40.0% of the time (2 events) the stock dropped further, adding to the extended-hours losses by an average of 3.3% by the following regular session close. Extended-Hours Dollar Volume: $35,861,618 Alcoa Inc. ( AA ) is due to issue its quarterly earnings report in the upcoming extended-hours session.
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Extended-Hours Dollar Volume: $35,861,618 Alcoa Inc. ( AA ) is due to issue its quarterly earnings report in the upcoming extended-hours session. Historical earnings event related premarket and after-hours trading activity in AA indicates that the price change in the extended hours is likely to be of limited value in forecasting additional price movement by the following regular session close. Last 12 Qtrs Positive Only Price Reactions Percent of time added to extended-hours gains: 66.7% Average next regular session additional gain: 0.9% Over the prior three fiscal years (12 quarters), when shares of AA rose in the extended-hours session in reaction to its earnings announcement, history shows that 66.7% of the time (2 events) the stock posted additional gains in the following regular session by an average of 0.9%.
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1b4d145f-b08a-40e3-9aab-71e4027d7f28
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1164.0
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2014-04-08 00:00:00 UTC
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After-Hours Earnings Report for April 8, 2014 : AA, WDFC, MG
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AA
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https://www.nasdaq.com/articles/after-hours-earnings-report-april-8-2014-aa-wdfc-mg-2014-04-08
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nan
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nan
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The following companies are expected to report earnings after hours on 04/08/2014. Visit our Earnings Calendar for a full list of expected earnings releases.
Alcoa Inc. ( AA ) is reporting for the quarter ending March 31, 2014. The mining company's consensus earnings per share forecast from the 12 analysts that follow the stock is $0.05. This value represents a 54.55% decrease compared to the same quarter last year. AA missed the consensus earnings per share in the 4th calendar quarter of 2013 by -33.33%. Zacks Investment Research reports that the 2014 Price to Earnings ratio for AA is 32.82 vs. an industry ratio of -5.90, implying that they will have a higher earnings growth than their competitors in the same industry.
WD-40 Company ( WDFC ) is reporting for the quarter ending February 28, 2014. The consumer company's consensus earnings per share forecast from the 4 analysts that follow the stock is $0.67. This value represents a 1.52% increase compared to the same quarter last year. In the past year WDFC has beat the expectations every quarter. The highest one was in the 4th calendar quarter where they beat the consensus by 1.37%. Zacks Investment Research reports that the 2014 Price to Earnings ratio for WDFC is 27.43 vs. an industry ratio of 17.70, implying that they will have a higher earnings growth than their competitors in the same industry.
Mistras Group Inc ( MG ) is reporting for the quarter ending February 28, 2014. The electrical instrument company's consensus earnings per share forecast from the 4 analysts that follow the stock is $0.12. This value represents a 71.43% increase compared to the same quarter last year. Zacks Investment Research reports that the 2014 Price to Earnings ratio for MG is 24.33 vs. an industry ratio of 23.40, implying that they will have a higher earnings growth than their competitors in the same industry.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Alcoa Inc. ( AA ) is reporting for the quarter ending March 31, 2014. AA missed the consensus earnings per share in the 4th calendar quarter of 2013 by -33.33%. Zacks Investment Research reports that the 2014 Price to Earnings ratio for AA is 32.82 vs. an industry ratio of -5.90, implying that they will have a higher earnings growth than their competitors in the same industry.
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Zacks Investment Research reports that the 2014 Price to Earnings ratio for AA is 32.82 vs. an industry ratio of -5.90, implying that they will have a higher earnings growth than their competitors in the same industry. Alcoa Inc. ( AA ) is reporting for the quarter ending March 31, 2014. AA missed the consensus earnings per share in the 4th calendar quarter of 2013 by -33.33%.
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Zacks Investment Research reports that the 2014 Price to Earnings ratio for AA is 32.82 vs. an industry ratio of -5.90, implying that they will have a higher earnings growth than their competitors in the same industry. Alcoa Inc. ( AA ) is reporting for the quarter ending March 31, 2014. AA missed the consensus earnings per share in the 4th calendar quarter of 2013 by -33.33%.
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AA missed the consensus earnings per share in the 4th calendar quarter of 2013 by -33.33%. Alcoa Inc. ( AA ) is reporting for the quarter ending March 31, 2014. Zacks Investment Research reports that the 2014 Price to Earnings ratio for AA is 32.82 vs. an industry ratio of -5.90, implying that they will have a higher earnings growth than their competitors in the same industry.
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38c55375-9b60-4a45-be64-554c5ded1dfc
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1165.0
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2014-04-08 00:00:00 UTC
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Will Earnings Be the Catalyst? - Analyst Blog
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AA
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https://www.nasdaq.com/articles/will-earnings-be-catalyst-analyst-blog-2014-04-08
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nan
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nan
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Monday, April 7, 2014
Stocks sold off on Friday and appear on track to start today's session on the weak side as well. There is not much on the data front today, though the 2014 Q1 earnings season will get in the spotlight with Tuesday's Alcoa ( AA ) release and Friday's reports by J.P. Morgan ( JPM ) and Wells Fargo ( WFC ).
Expectations for Q1 remain low, having fallen sharply under the weight of overwhelmingly negative guidance from management teams. Total earnings for companies in the S&P 500 are expected to be down -3.3% from the same period last year on modestly higher revenues and lower margins. This is the second time since the current cycle got underway in 2009 that earnings for the S&P 500 index are expected to be down at this stage.
Negative revisions have been a persistent trend for more than a year now, though the magnitude of negative revisions to Q1 estimates was greater than what we have witnessed in other recent quarters. Weather was likely a big reason for the increased Q1 estimate cuts, with retail and other weather exposed sectors suffering heavy revisions. But the overall Q1 weakness is broad-based and not concentrated in any one sector - 10 of the 16 Zacks sectors are currently expected to show earnings declines in the quarter.
The flip side of low estimates is that it provides an easy hurdle rate for companies to jump through. Roughly two-thirds of the S&P 500 members come out with positive earnings surprises in any given quarter and if Q1 estimates really are on the low side, then beat ratios could very well come out on the higher side this time around. But more than positive earnings (and revenue) surprises, the market will be looking for some evidence that the outlook for the coming quarters is stabilizing, if not improving.
The current consensus earnings view puts Q1 as the low point for the year, both in terms of growth as well as the overall level of total earnings. But the expectation is of notable improvement from Q2 onwards and a strong ramp-up later this year and into 2015. Guidance will determine how the outlook for those coming quarters will evolve. Guidance has been negative for more than a year now and estimates for Q2 and beyond will start coming down if we don't see any change on that front in the next few weeks.
The economic reports for March, including Friday's jobs report, have broadly confirmed that the U.S. economy has started to come out of the Winter freeze. The magnitude and pace of the bounce-back in activity levels has been a bit on the weak side, but there is notable improvement in March data relative to what we saw in the first two months of the year. Investors will be looking for a similar trend on the earnings side as well.
Sheraz Mian
Director of Research
ALCOA INC (AA): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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There is not much on the data front today, though the 2014 Q1 earnings season will get in the spotlight with Tuesday's Alcoa ( AA ) release and Friday's reports by J.P. Morgan ( JPM ) and Wells Fargo ( WFC ). Sheraz Mian Director of Research ALCOA INC (AA): Free Stock Analysis Report To read this article on Zacks.com click here. The magnitude and pace of the bounce-back in activity levels has been a bit on the weak side, but there is notable improvement in March data relative to what we saw in the first two months of the year.
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There is not much on the data front today, though the 2014 Q1 earnings season will get in the spotlight with Tuesday's Alcoa ( AA ) release and Friday's reports by J.P. Morgan ( JPM ) and Wells Fargo ( WFC ). Sheraz Mian Director of Research ALCOA INC (AA): Free Stock Analysis Report To read this article on Zacks.com click here. The magnitude and pace of the bounce-back in activity levels has been a bit on the weak side, but there is notable improvement in March data relative to what we saw in the first two months of the year.
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There is not much on the data front today, though the 2014 Q1 earnings season will get in the spotlight with Tuesday's Alcoa ( AA ) release and Friday's reports by J.P. Morgan ( JPM ) and Wells Fargo ( WFC ). Sheraz Mian Director of Research ALCOA INC (AA): Free Stock Analysis Report To read this article on Zacks.com click here. Negative revisions have been a persistent trend for more than a year now, though the magnitude of negative revisions to Q1 estimates was greater than what we have witnessed in other recent quarters.
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There is not much on the data front today, though the 2014 Q1 earnings season will get in the spotlight with Tuesday's Alcoa ( AA ) release and Friday's reports by J.P. Morgan ( JPM ) and Wells Fargo ( WFC ). Sheraz Mian Director of Research ALCOA INC (AA): Free Stock Analysis Report To read this article on Zacks.com click here. Negative revisions have been a persistent trend for more than a year now, though the magnitude of negative revisions to Q1 estimates was greater than what we have witnessed in other recent quarters.
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8b1cd069-9ed8-4152-9a2b-9d6c65a79d17
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1166.0
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2014-04-08 00:00:00 UTC
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Closing Update: Markets End With Moderate Gains; Boosted by Positive IMF Economic Growth Forecast
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AA
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https://www.nasdaq.com/articles/closing-update-markets-end-moderate-gains-boosted-positive-imf-economic-growth-forecast
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nan
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nan
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Stocks rose Tuesday, snapping a three-day losing string after the International Monetary Fund predicted the United States and other wealthy nations would lead the global economy higher this year. Technology stocks helped pace the rebound today, lifting the Nasdaq Composite index to nearly a 1% advance. Shares of energy and consumer discretionary companies posted even stronger advances today, with healthcare issues the lone sector in the S&P 500 index to decline as a group.
Global output should expand 3.6% this year and 3.9% in 2015, the IMF said in its latest World Economic Outlook report. While the 2014 forecast was down slightly from the organization's prior predictions, 2015 - if the IMF predictions come to pass - would produce the strongest year of growth since 2011.
Alcoa ( AA ) kicks off the Q1 earnings season tonight, with Wall Street expecting the aluminum producer to post per-share earnings during the three months ended March 31 of $0.05 per share, down from an $0.11 per share profit in the year-ago period. Revenue also is projected to decline about 4.9% from the same quarter last year to $5.55 billion in the latest quarter, according to Capital IQ.
The financial reporting really picks up steam later this week, with JPMorgan Chase ( JPM ) and Wells Fargo ( WFC ) posting results on Friday.
Economic data was again limited on Tuesday. The National Federation of Independent Businesses reported a moderate increase in business optimism as measured by its monthly index, which rose to a 93.4 reading in March from 91.4 in February.
Retail sales also showed moderate improvement last week, according to a survey of the major retail chains by Goldman Sachs and the International Council of Shopping Centers as well as a broader look at the sector by Redbook. The ICSC-Goldman Sachs survey found a 1.5% rise during the week ended April 5 following a 3.6% gain the previous week. The Redbook survey reported a 2.9% sales increase last week over year-ago levels, citing mild weather and pent-up demand for the advance.
Commodities were higher. Crude oil for May delivery settled $2.12 higher at $102.56 per barrel while May natural gas was up 6 cents higher at $4.53 per 1 million BTU. June gold rose $6.140 to finish at $1,304.30 per ounce while May silver added 16 cents to $20.07 per ounce. May copper rose a penny, settling at $3.05 per pound.
Here's where the U.S. markets stood at the end of today's session:
Dow Jones Industrial Average up 10.40 (+0.06%) to 16,256.14
S&P 500 up 6.92 (+0.4%) to 1,851.96
Nasdaq Composite Index up 33.23 (+0.81%) to 4,112.99
GLOBAL SENTIMENT
Hang Seng Index up 0.98%
Shanghai China Composite Index up 1.92%
FTSE 100 Index down 0.49%
UPSIDE MOVERS
(+) OFAB, Accepts $94 mln buyout offer from FNB Corp ( FNB ), with OFAB shareholders receiving 1.781 FNB shares for each share they now own. The deal values OFAB at around $23.56 a share - a nearly 28% premium over its closing price on Monday.
(+) VIPS, Upgrade to Outperform from Neutral at Credit Suisse, which also raised its price target for the stock by $33 to $178 a share.
(+) ZGNX, Sues in federal court to overturn an executive order by Massachusetts Gov. Deval Patrick barring doctors from prescribing or drug stores from selling its Zohydro painkiller.
DOWNSIDE MOVERS
(-) JRCC, Files voluntary petition for bankruptcy protection in the Eastern District of Virginia. Secures $110 mln in debt-in-possession financing from a group of lenders.
(-) SPNC, Reports preliminary Q1 revenue of $39.6 mln, up 5% over same quarter last year but trailing analyst forecasts for the period by around $1.82 mln.
(-) ICLD, Posts adjusted Q4 net loss of $3.24 per share, compared with $0.91 loss in year-ago period. Revenue climbed 5.4% year over year to $11.8 mln.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Alcoa ( AA ) kicks off the Q1 earnings season tonight, with Wall Street expecting the aluminum producer to post per-share earnings during the three months ended March 31 of $0.05 per share, down from an $0.11 per share profit in the year-ago period. Stocks rose Tuesday, snapping a three-day losing string after the International Monetary Fund predicted the United States and other wealthy nations would lead the global economy higher this year. Shares of energy and consumer discretionary companies posted even stronger advances today, with healthcare issues the lone sector in the S&P 500 index to decline as a group.
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Alcoa ( AA ) kicks off the Q1 earnings season tonight, with Wall Street expecting the aluminum producer to post per-share earnings during the three months ended March 31 of $0.05 per share, down from an $0.11 per share profit in the year-ago period. The National Federation of Independent Businesses reported a moderate increase in business optimism as measured by its monthly index, which rose to a 93.4 reading in March from 91.4 in February. The Redbook survey reported a 2.9% sales increase last week over year-ago levels, citing mild weather and pent-up demand for the advance.
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Alcoa ( AA ) kicks off the Q1 earnings season tonight, with Wall Street expecting the aluminum producer to post per-share earnings during the three months ended March 31 of $0.05 per share, down from an $0.11 per share profit in the year-ago period. Stocks rose Tuesday, snapping a three-day losing string after the International Monetary Fund predicted the United States and other wealthy nations would lead the global economy higher this year. (-) SPNC, Reports preliminary Q1 revenue of $39.6 mln, up 5% over same quarter last year but trailing analyst forecasts for the period by around $1.82 mln.
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Alcoa ( AA ) kicks off the Q1 earnings season tonight, with Wall Street expecting the aluminum producer to post per-share earnings during the three months ended March 31 of $0.05 per share, down from an $0.11 per share profit in the year-ago period. Global output should expand 3.6% this year and 3.9% in 2015, the IMF said in its latest World Economic Outlook report. The deal values OFAB at around $23.56 a share - a nearly 28% premium over its closing price on Monday.
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777ea195-dfa9-437d-8417-529b846306ea
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1167.0
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2014-04-08 00:00:00 UTC
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Stocks Ease Higher, Led by the Tech Sector
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AA
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https://www.nasdaq.com/articles/stocks-ease-higher-led-tech-sector-2014-04-08
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nan
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nan
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"The S&P 500 Index (SPX) held the 1,840 area, which had been support since early March," observed Schaeffer's Senior Technical Strategist Ryan Detrick, CMT. "After the drop the past three days, it was nice to see the bulls show some life. With many momentum names extremely oversold, a bounce could happen at any time. Still, you could have said that last week, and many continued to drop. Be very cautious out there." After three days in the red, the Dow Jones Industrial Average (DJI) spent time on both sides of the breakeven mark before ending with a minimal gain.
Continue reading for more on today's market, including
How Tesla Motors Inc ( TSLA ) is dipping its toes into the financing world.
Alcoa Inc ( AA ) kicks off earnings season tonight, and option traders are not too optimistic.
And in case you missed it , 10 quick takes on the successful GrubHub Inc ( GRUB ) debut .
Plus ... Job openings hit a multi-year peak, a Fed official issues a mea culpa, and Wall Street hands out downgrades on a pair of banking giants.
Trading Topic of the Week -- Tips for Trading Stock Trends Confirm that there are still some skeptics on the sidelines . A solid uptrend is certainly impressive to look at, but a pretty chart alone doesn't guarantee a profitable trade. After all, a rally looks best right at the top.
The Dow Jones Industrial Average (DJI - 16,256.14) started the day slightly lower, popped into the green before noon, and hovered around the flat line before settling with an increase of 10.3 points, or less than 0.1%. Seventeen of the 30 Dow components gained ground today, led by a 3% rally in Nike Inc ( NKE ). Bringing up the rear was Goldman Sachs Group Inc ( GS ), which settled on a 1.3% decline.
The S&P 500 Index (SPX - 1,851.96) followed a similar morning path as its blue-chip brethren, but closed with a more impressive gain of 0.4%, or 6.9 points, retaking the 1,850 level. The Nasdaq Composite (COMP - 4,112.99) bounced on the heels of its worst three-session drop since 2011. At the close, the tech-rich index was up 33.2 points, or 0.8%.
The CBOE Volatility Index (VIX - 14.86) peeked into the green in early trading, but was otherwise mired south of breakeven, settling off 0.7 point, or 4.4%, to move back south of the 15 mark.
A Trader's Take
"The rotation from higher momentum names and into steel and commodities continues," added Detrick. "It is important to remember the SPX is up five straight quarters and the Russell 2000 Index (RUT) is up a record seven quarters in a row. Some type of weakness or consolidation is perfectly healthy. Yes, we all know this bull market is five years old, but many forget that 2011 was exactly flat, yet earnings grew 14.5%. With the SPX pretty much flat for the year, could we be seeing a similar scenario play out?"
5 Items on Our Radar Today
The Job Openings and Labor Turnover Survey (JOLTS) revealed a better-than-expected increase in job openings in February. The number of open positions came in at 4.17 million, a six-year high. There remain about 2.5 unemployed Americans for each job opening. (Bloomberg)
The International Monetary Fund (IMF) issued a projection that the global economy would continue to recover this year, despite escalating risks in emerging markets. In its twice-yearly outlook, the IMF forecast a 3.6% rise in global output this year, and a 3.9% growth rate for 2015. (Reuters, via CNBC)
Minneapolis Federal Reserve President Narayana Kocherlakota admitted that he and his central bank peers "need to do better" with regard to low inflation and an employment market that remains "far from healthy." Kocherlakota cast the lone "nay" vote last month on the subject of abandoning objective guidelines for lifting interest rates. (FOX Business)
Banking giants Bank of America Corp (BAC) and Citigroup Inc (C) faced negative attention from Wall Street today.
An eBay Inc (EBAY) option bull constructed a large spread with back-month options.
For a look at today's options movers and commodities activity, head to page 2.
Commodities
Crude oil rallied, amid a falling dollar and escalating tensions in Ukraine. Also helping black gold was a report that found expectations for higher oil prices and lower production. May-dated futures added $2.12, or 2.1%, to settle at $102.56 per barrel, their highest close in a month.
Gold futures also advanced, reaching a two-week high due to rising safe-haven demand. At the close, the June contract was up $10.80, or 0.8%, to settle at $1,309.10 an ounce.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
All Rights Reserved. Unauthorized reproduction of any SIR publication is strictly prohibited.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Alcoa Inc ( AA ) kicks off earnings season tonight, and option traders are not too optimistic. Plus ... Job openings hit a multi-year peak, a Fed official issues a mea culpa, and Wall Street hands out downgrades on a pair of banking giants. The Dow Jones Industrial Average (DJI - 16,256.14) started the day slightly lower, popped into the green before noon, and hovered around the flat line before settling with an increase of 10.3 points, or less than 0.1%.
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Alcoa Inc ( AA ) kicks off earnings season tonight, and option traders are not too optimistic. After three days in the red, the Dow Jones Industrial Average (DJI) spent time on both sides of the breakeven mark before ending with a minimal gain. The Dow Jones Industrial Average (DJI - 16,256.14) started the day slightly lower, popped into the green before noon, and hovered around the flat line before settling with an increase of 10.3 points, or less than 0.1%.
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Alcoa Inc ( AA ) kicks off earnings season tonight, and option traders are not too optimistic. The Dow Jones Industrial Average (DJI - 16,256.14) started the day slightly lower, popped into the green before noon, and hovered around the flat line before settling with an increase of 10.3 points, or less than 0.1%. The CBOE Volatility Index (VIX - 14.86) peeked into the green in early trading, but was otherwise mired south of breakeven, settling off 0.7 point, or 4.4%, to move back south of the 15 mark.
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Alcoa Inc ( AA ) kicks off earnings season tonight, and option traders are not too optimistic. Still, you could have said that last week, and many continued to drop. At the close, the tech-rich index was up 33.2 points, or 0.8%.
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73098acc-b9e2-4718-9e5c-f8c701facb4d
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1168.0
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2014-04-07 00:00:00 UTC
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Will Earnings Be the Catalyst? - Ahead of Wall Street
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AA
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https://www.nasdaq.com/articles/will-earnings-be-catalyst-ahead-wall-street-2014-04-07
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nan
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nan
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Monday, April 7, 2014
Stocks sold off on Friday and appear on track to start today's session on the weak side as well. There is not much on the data front today, though the 2014 Q1 earnings season will get in the spotlight with Tuesday's Alcoa ( AA ) release and Friday's reports by J.P. Morgan ( JPM ) and Wells Fargo ( WFC ).
Expectations for Q1 remain low, having fallen sharply under the weight of overwhelmingly negative guidance from management teams. Total earnings for companies in the S&P 500 are expected to be down -3.3% from the same period last year on modestly higher revenues and lower margins. This is the second time since the current cycle got underway in 2009 that earnings for the S&P 500 index are expected to be down at this stage.
Negative revisions have been a persistent trend for more than a year now, though the magnitude of negative revisions to Q1 estimates was greater than what we have witnessed in other recent quarters. Weather was likely a big reason for the increased Q1 estimate cuts, with retail and other weather exposed sectors suffering heavy revisions. But the overall Q1 weakness is broad-based and not concentrated in any one sector - 10 of the 16 Zacks sectors are currently expected to show earnings declines in the quarter.
The flip side of low estimates is that it provides an easy hurdle rate for companies to jump through. Roughly two-thirds of the S&P 500 members come out with positive earnings surprises in any given quarter and if Q1 estimates really are on the low side, then beat ratios could very well come out on the higher side this time around. But more than positive earnings (and revenue) surprises, the market will be looking for some evidence that the outlook for the coming quarters is stabilizing, if not improving.
The current consensus earnings view puts Q1 as the low point for the year, both in terms of growth as well as the overall level of total earnings. But the expectation is of notable improvement from Q2 onwards and a strong ramp-up later this year and into 2015. Guidance will determine how the outlook for those coming quarters will evolve. Guidance has been negative for more than a year now and estimates for Q2 and beyond will start coming down if we don't see any change on that front in the next few weeks.
The economic reports for March, including Friday's jobs report, have broadly confirmed that the U.S. economy has started to come out of the Winter freeze. The magnitude and pace of the bounce-back in activity levels has been a bit on the weak side, but there is notable improvement in March data relative to what we saw in the first two months of the year. Investors will be looking for a similar trend on the earnings side as well.
Sheraz Mian
Director of Research
ALCOA INC (AA): Free Stock Analysis Report
JPMORGAN CHASE (JPM): Free Stock Analysis Report
WELLS FARGO-NEW (WFC): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
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
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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There is not much on the data front today, though the 2014 Q1 earnings season will get in the spotlight with Tuesday's Alcoa ( AA ) release and Friday's reports by J.P. Morgan ( JPM ) and Wells Fargo ( WFC ). Sheraz Mian Director of Research ALCOA INC (AA): Free Stock Analysis Report JPMORGAN CHASE (JPM): Free Stock Analysis Report WELLS FARGO-NEW (WFC): Free Stock Analysis Report To read this article on Zacks.com click here. Monday, April 7, 2014 Stocks sold off on Friday and appear on track to start today's session on the weak side as well.
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Sheraz Mian Director of Research ALCOA INC (AA): Free Stock Analysis Report JPMORGAN CHASE (JPM): Free Stock Analysis Report WELLS FARGO-NEW (WFC): Free Stock Analysis Report To read this article on Zacks.com click here. There is not much on the data front today, though the 2014 Q1 earnings season will get in the spotlight with Tuesday's Alcoa ( AA ) release and Friday's reports by J.P. Morgan ( JPM ) and Wells Fargo ( WFC ). Click to get this free report The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Sheraz Mian Director of Research ALCOA INC (AA): Free Stock Analysis Report JPMORGAN CHASE (JPM): Free Stock Analysis Report WELLS FARGO-NEW (WFC): Free Stock Analysis Report To read this article on Zacks.com click here. There is not much on the data front today, though the 2014 Q1 earnings season will get in the spotlight with Tuesday's Alcoa ( AA ) release and Friday's reports by J.P. Morgan ( JPM ) and Wells Fargo ( WFC ). Roughly two-thirds of the S&P 500 members come out with positive earnings surprises in any given quarter and if Q1 estimates really are on the low side, then beat ratios could very well come out on the higher side this time around.
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There is not much on the data front today, though the 2014 Q1 earnings season will get in the spotlight with Tuesday's Alcoa ( AA ) release and Friday's reports by J.P. Morgan ( JPM ) and Wells Fargo ( WFC ). Sheraz Mian Director of Research ALCOA INC (AA): Free Stock Analysis Report JPMORGAN CHASE (JPM): Free Stock Analysis Report WELLS FARGO-NEW (WFC): Free Stock Analysis Report To read this article on Zacks.com click here. Negative revisions have been a persistent trend for more than a year now, though the magnitude of negative revisions to Q1 estimates was greater than what we have witnessed in other recent quarters.
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1169.0
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2014-04-07 00:00:00 UTC
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Earnings Expectations For The Week Of April 7: New Season Kicks Off
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AA
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https://www.nasdaq.com/articles/earnings-expectations-week-april-7-new-season-kicks-2014-04-07
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nan
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Nelson Hem, Benzinga Staff Writer
This week brings the first-quarter report from Alcoa (AA), the traditional kickoff of a new earnings season. But its relevance may be diminishing, now that the company is no longer part of the Dow Jones Industrial Average.
With the end-of-the-week earnings reports from J.P. Morgan (JPM) and Wells Fargo (WFC), the new season really gets started. Below is a quick look at what analysts expect from these and the other most prominent quarterly reports due out this week.
Alcoa
Analysts expect this New York–based aluminum prouder to post earnings of $0.05 per share for its first quarter of 2014. That would be down from $0.11 a year ago. And revenues for the quarter are estimated to total $5.56 billion, which would be less than five percent lower than a year ago.
Note that earnings per share (EPS) fell short of consensus estimates in the previous quarter by more than 33 percent. But the consensus EPS estimate has ticked up by a penny in the past 60 days. So far EPS for the current quarter are expected to be higher sequentially and year over year. Alcoa is scheduled to share its results Tuesday before the markets open.
Bed Bath & Beyond
The forecast for specialty retailer Bed Bath & Beyond (BBBY) calls for per-share earnings of $1.60 and for revenue to total $3.22 billion for its fiscal fourth quarter. In the year-ago period, it posted a profit of $1.68 per share and sales came to $3.40 billion. Note that it fell short of EPS estimates by three cents in the previous quarter.
For the full year, the consensus expectations are for $4.80 per share earnings and revenue of $11.52 billion. That would be up from EPS of $4.56 and $10.91 billion in sales in the previous year. The company is scheduled to share its results Wednesday after the closing bell.
J.P. Morgan
The big bank headed by Jamie Dimon is forecast to report earnings of $1.41 per share in Friday morning's report. That would be down from the $1.59 per share in the year-ago period. Note that the company fell short of consensus EPS expectations in the previous two quarters.
J.P. Morgan also is expected to say that revenues came to $24.55 billion in the first quarter, which would be lower than a year ago by about five percent. So far, revenue and earnings results for the current quarter are expected to be higher sequentially but lower year over year.
Rite Aid
In its report early Thursday, the third largest drugstore chain in the United States is expected to say that EPS dropped from $0.13 in the year-ago quarter to $0.04 for the three months that ended in February. Per-share earnings have not fallen short of consensus expectations in the past four periods.
Rite Aid's (RAD) revenues are predicted to have risen more than one percent to $6.54 billion for the fiscal fourth quarter. And full-year revenue is predicted to be flat year on year, with EPS of $0.23, or almost 48 percent higher than in the previous year.
Wells Fargo
The first-quarter forecast for this San Francisco–based bank calls for earnings of $0.96 per share, on $20.59 billion in revenue, in Friday morning's report. That would compare to EPS of $0.92 and revenue of $21.26 billion in the same period of the previous year.
That consensus EPS estimate has remained unchanged in the past 60 days. And note that analysts underestimated earnings in the past four quarters by as much as a nickel per share. So far, the forecast has EPS up sequentially and year on year in the current quarter.
And Others
Analysts also foresee earnings growth this week from alcoholic beverage giant Constellation Brands and fastener maker Fastenal. However, Family Dollar Stores, Pier 1 Imports and auto insurer Progressive are expected to show a year-over-year decline in their per-share earnings.
The following week, the new earnings season is off to the races. Look for quarterly results from Citigroup, Coca-Cola, General Electric, Goldman Sachs, Google, Intel, Johnson & Johnson, Yahoo! and many others.
Plus:
Avoid Risk To Prosper
Barron's Recap: The New Indexing
5 Ways To Build A Company That Yahoo Will Acquire
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Nelson Hem, Benzinga Staff Writer This week brings the first-quarter report from Alcoa (AA), the traditional kickoff of a new earnings season. Rite Aid In its report early Thursday, the third largest drugstore chain in the United States is expected to say that EPS dropped from $0.13 in the year-ago quarter to $0.04 for the three months that ended in February. Wells Fargo The first-quarter forecast for this San Francisco–based bank calls for earnings of $0.96 per share, on $20.59 billion in revenue, in Friday morning's report.
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Nelson Hem, Benzinga Staff Writer This week brings the first-quarter report from Alcoa (AA), the traditional kickoff of a new earnings season. Note that earnings per share (EPS) fell short of consensus estimates in the previous quarter by more than 33 percent. Bed Bath & Beyond The forecast for specialty retailer Bed Bath & Beyond (BBBY) calls for per-share earnings of $1.60 and for revenue to total $3.22 billion for its fiscal fourth quarter.
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Nelson Hem, Benzinga Staff Writer This week brings the first-quarter report from Alcoa (AA), the traditional kickoff of a new earnings season. Note that earnings per share (EPS) fell short of consensus estimates in the previous quarter by more than 33 percent. For the full year, the consensus expectations are for $4.80 per share earnings and revenue of $11.52 billion.
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Nelson Hem, Benzinga Staff Writer This week brings the first-quarter report from Alcoa (AA), the traditional kickoff of a new earnings season. And revenues for the quarter are estimated to total $5.56 billion, which would be less than five percent lower than a year ago. For the full year, the consensus expectations are for $4.80 per share earnings and revenue of $11.52 billion.
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b450ae15-79cb-49d1-9469-38cb371d3936
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1170.0
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2014-04-07 00:00:00 UTC
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Daily Stock Chart Analysis: Alcoa (NYSE: AA)
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AA
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https://www.nasdaq.com/articles/daily-stock-chart-analysis-alcoa-nyse-aa-2014-04-07
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nan
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nan
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The earnings season will kick off tomorrow when Alcoa ( AA ) reports earnings after the close. I thought it would be a good time to breakdown the charts for Alcoa ahead of their earnings report.
Looking at the daily chart first, Alcoa looks like a pretty good investment right now. The stock has been in an upward sloped trend channel for the last six months. The stock just hit the upper rail of the channel and it looks like it will pull back to the lower rail. It has just come out of overbought territory, so a slight selloff should release some of the pressure
The monthly chart is where I found concern. The rally over the last six months has put the stock in an overbought situation based on the monthly stochastic readings and the 10-month RSI .
For me, overbought and oversold situations need to be evaluated on an individual, stock-by-stock basis. I looked at a chart for Alcoa that spans the last 15 years and marked each situation where the stochastic readings were overbought and the RSI was either overbought or close to it. The blue circles in the top portion of the chart coincide with the overbought levels marked in the indicator portion of the chart. The blue lines show how the price declined sharply in each instance over the last 15 years.
In the case of Alcoa, each time the monthly oscillators reached overbought levels like they are now, the stock dropped 35% or more in the following months. I don't know about you, but when something is as reliable as these situations, I tend to shy away from buying the stock.
Rather than just relying on the charts, I decided to look at the sentiment readings for AA as well. I ran my sentiment composite on the stock, combining the short interest ratio, put/call ratio and analyst ratings into one combined number. The overall reading came in at 11.42 which I would usually view as bullish , but given the monthly chart, I am hesitant in this instance. I believe that you have to combine the sentiment analysis with the technical and fundamental analysis, and in this case the technical picture is the problem. It is also worth pointing out that the short interest on AA has fallen sharply of late with the number of shares sold short falling from 130 million to 86.9 million since the beginning of February through March 15 (the most recent short interest report).
I would not recommend rushing out and shorting Alcoa ahead of earnings just based on the monthly chart, but I also wouldn't recommend rushing out to buy the stock. Analysts have ratcheted up their estimates over the past 30 days with six of the 11 analysts revising their estimate upwards. I doubt the stock drops or jumps too much on the earnings release. I would look to short the stock later this week based on the monthly chart with a stop loss set 10% above the entry price.
Mega-dividends
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The earnings season will kick off tomorrow when Alcoa ( AA ) reports earnings after the close. Rather than just relying on the charts, I decided to look at the sentiment readings for AA as well. It is also worth pointing out that the short interest on AA has fallen sharply of late with the number of shares sold short falling from 130 million to 86.9 million since the beginning of February through March 15 (the most recent short interest report).
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The earnings season will kick off tomorrow when Alcoa ( AA ) reports earnings after the close. Rather than just relying on the charts, I decided to look at the sentiment readings for AA as well. It is also worth pointing out that the short interest on AA has fallen sharply of late with the number of shares sold short falling from 130 million to 86.9 million since the beginning of February through March 15 (the most recent short interest report).
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The earnings season will kick off tomorrow when Alcoa ( AA ) reports earnings after the close. Rather than just relying on the charts, I decided to look at the sentiment readings for AA as well. It is also worth pointing out that the short interest on AA has fallen sharply of late with the number of shares sold short falling from 130 million to 86.9 million since the beginning of February through March 15 (the most recent short interest report).
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The earnings season will kick off tomorrow when Alcoa ( AA ) reports earnings after the close. Rather than just relying on the charts, I decided to look at the sentiment readings for AA as well. It is also worth pointing out that the short interest on AA has fallen sharply of late with the number of shares sold short falling from 130 million to 86.9 million since the beginning of February through March 15 (the most recent short interest report).
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1f2846d0-4e43-4cf5-8f05-626fd5cf5bc7
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1171.0
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2014-04-07 00:00:00 UTC
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Week Ahead Market Report: April 7, 2014
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AA
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https://www.nasdaq.com/articles/week-ahead-market-report-april-7-2014-2014-04-07
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nan
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nan
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The US markets are sharply lower this afternoon, with the Nasdaq currently leading the charge, down about 1.75%. Momentum and technology stocks are headlining the fall, with companies such MannKind down 10.77%, Amazon.com lower by 2.6%, Tesla Motors off 3.5% and Yahoo! down 4.15%.
Good afternoon, this is Sayoko Murase with the Week Ahead Market Report for April 7, 2014.
In overseas trading, Japan's Nikkei 225 Stock Average was lower by 1.69% and the Hang Seng was down 0.59%. In Europe on Monday, the FTSE 100 was lower by 1.09% and the German DAX was down 1.91% today.
In economic news, Wholesale Inventories is released Wednesday, Initial Claims, Export and Import Prices on Thursday, and PPI on Friday.
In earnings news this week, Alcoa ( AA ) releases Tuesday, Bed Bath & Beyond ( BBBY ) and Constellation Brands ( STZ ) on Wednesday, Rite Aid ( RAD ) on Thursday and Fastenal ( FAST ) on Friday.
Join us on Friday for the Weekly Market Wrap and have a wonderful week.
VIDEO: Week Ahead Market Report: April 7, 2014
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In earnings news this week, Alcoa ( AA ) releases Tuesday, Bed Bath & Beyond ( BBBY ) and Constellation Brands ( STZ ) on Wednesday, Rite Aid ( RAD ) on Thursday and Fastenal ( FAST ) on Friday. Momentum and technology stocks are headlining the fall, with companies such MannKind down 10.77%, Amazon.com lower by 2.6%, Tesla Motors off 3.5% and Yahoo! In economic news, Wholesale Inventories is released Wednesday, Initial Claims, Export and Import Prices on Thursday, and PPI on Friday.
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In earnings news this week, Alcoa ( AA ) releases Tuesday, Bed Bath & Beyond ( BBBY ) and Constellation Brands ( STZ ) on Wednesday, Rite Aid ( RAD ) on Thursday and Fastenal ( FAST ) on Friday. Good afternoon, this is Sayoko Murase with the Week Ahead Market Report for April 7, 2014. VIDEO: Week Ahead Market Report: April 7, 2014 The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In earnings news this week, Alcoa ( AA ) releases Tuesday, Bed Bath & Beyond ( BBBY ) and Constellation Brands ( STZ ) on Wednesday, Rite Aid ( RAD ) on Thursday and Fastenal ( FAST ) on Friday. VIDEO: Week Ahead Market Report: April 7, 2014 The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In earnings news this week, Alcoa ( AA ) releases Tuesday, Bed Bath & Beyond ( BBBY ) and Constellation Brands ( STZ ) on Wednesday, Rite Aid ( RAD ) on Thursday and Fastenal ( FAST ) on Friday. Momentum and technology stocks are headlining the fall, with companies such MannKind down 10.77%, Amazon.com lower by 2.6%, Tesla Motors off 3.5% and Yahoo! Good afternoon, this is Sayoko Murase with the Week Ahead Market Report for April 7, 2014.
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2df51d7e-7681-41bd-922d-d2834347a9ee
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1172.0
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2014-04-07 00:00:00 UTC
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Alcoa's Curtailment Of Brazilian Smelting Capacity Will Reduce Revenues
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AA
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https://www.nasdaq.com/articles/alcoas-curtailment-brazilian-smelting-capacity-will-reduce-revenues-2014-04-07
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nan
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nan
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Alcoa ( AA ) has announced that it will curtail 147,000 metric tonnes of aluminum smelting capacity at its Sao Luis (Alumar) and Pocos de Caldas smelters in Brazil due to rising power costs and falling aluminum prices. These include shutting down 62,000 metric tonnes of smelting capacity at Pocos and 85,000 metric tonnes at Sao Luis.The cuts are expected to be implemented by the end of May 2014.
Alcoa has been periodically shutting down or idling smelting capacity due to challengingglobal marketconditions in primary aluminum. Prices have been falling since May 2011 while costs have been increasing, which has rendered a large chunk of the smelting capacity unprofitable.
Once all the planned shutdown of smelting capacity is complete, Alcoa will have idled about 21% of its total installed capacity.
The shutdown will help Alcoa reach its stated goal of lowering its position on the global aluminum cost curve to the 38th percentile by 2016. While the shutdown will definitely impact revenues, restructuring charges associated with the same will have a further negative impact on net profits for 2014.
See Full Analysis for Alcoa Here
Importance Of Aluminum Prices For Alcoa
Alcoa is organized into four business segments: Alumina, which mines bauxite and processes it into the precursor to aluminum; Primary Metals, which smelts aluminum; Flat-rolled Products, which makes sheets used in beverage cans as well as airplane wings and car parts; and Engineered Products and Solutions, which makes aerospace fasteners, turbine blades and truck wheels. While the Flat-rolled and Engineered Products and Solutions divisions produce value-added products and thus generate higher margins, a significant proportion of Alcoa's revenues still comes from the Alumina and Primary Metals divisions. This makes its earnings highly sensitive to aluminum prices. While the company is trying to reshape its business towards the downstream value-added segments, the structural shift is likely to take time. Till then, its earnings and business strategy will continue to remain sensitive to global aluminum prices.
Unfavorable Aluminum Prices And Reduced Demand
Aluminum prices were on a constant decline in 2013. The price per tonne dropped steadily from $2,100 at the beginning of 2013 to $1,700 towards the end of the year. The situation has been no better in 2014 thus far.
The European debt crisis, slowing Chinese growth and overcapacity in China have contributed to the decline in aluminum demand and its prices over the last few quarters. In addition, the long term expectations for these factors remain largely unchanged, so weakness in prices is expected to persist in the foreseeable future. The only silver lining is that efforts by the Chinese government to reduce overcapacity have resulted in net capacity additions reducing to a trickle. State intervention in the form of subsidies or provision of cheap power encourage smelting capacity addition in China. The country currently has an installed aluminum smelting capacity of around 30 million tonnes out of the global total capacity of 50 million tonnes.
Another factor that might explain falling prices is the persistently high aluminum inventory relative to demand, which may be keeping a lid on London Metal Exchange (LME) prices for aluminum. While LME prices are not the actual realized prices for Alcoa, they do indicate a broader trend in global aluminum prices.
Despite the smelting capacity cuts being implemented, the implications for aluminum prices are not clear. The reason is that prices can be impacted significantly only if across-the-board, large scale cuts take place globally. On a net basis, smelting capacity is still being added in countries in the Middle East where power is cheap and the cost economics works out. Alcoa itself is commissioning its new Ma'aden smelter in Saudi Arabia which will have a smelting capacity of 740,000 tonnes per year.
After The Brazilian Capacity Shutdown
Once the shutdown is complete, Alcoa will have a total idle aluminum smelting capacity of 800,000 tonnes. This represents 21% of its total installed smelting capacity.
Alcoa is expected to make further progress towards its target of lowering its position on the global aluminum production cost curve to 38th percentile by 2016. By the end of 2013, the company had reached 43th percentile which represents an 8 point reduction since 2010.
Alcoa will have to record restructuring charges worth $40-50 million in the first quarter after accounting for tax and non-controlling interest. Of this, approximately 30% will be non-cash. In addition, we expect further charges to be recorded in the second quarter since the shutdown will be completed only in May. The amount for this has not been specified by Alcoa thus far. We expect to obtain this information in the company's first quarter earnings release which is due next month.
We have a Trefis price estimate for Alcoa of $9 .
See More at Trefis | View Interactive Institutional Research (Powered by Trefis)
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Alcoa ( AA ) has announced that it will curtail 147,000 metric tonnes of aluminum smelting capacity at its Sao Luis (Alumar) and Pocos de Caldas smelters in Brazil due to rising power costs and falling aluminum prices. The European debt crisis, slowing Chinese growth and overcapacity in China have contributed to the decline in aluminum demand and its prices over the last few quarters. On a net basis, smelting capacity is still being added in countries in the Middle East where power is cheap and the cost economics works out.
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Alcoa ( AA ) has announced that it will curtail 147,000 metric tonnes of aluminum smelting capacity at its Sao Luis (Alumar) and Pocos de Caldas smelters in Brazil due to rising power costs and falling aluminum prices. These include shutting down 62,000 metric tonnes of smelting capacity at Pocos and 85,000 metric tonnes at Sao Luis.The cuts are expected to be implemented by the end of May 2014. The country currently has an installed aluminum smelting capacity of around 30 million tonnes out of the global total capacity of 50 million tonnes.
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Alcoa ( AA ) has announced that it will curtail 147,000 metric tonnes of aluminum smelting capacity at its Sao Luis (Alumar) and Pocos de Caldas smelters in Brazil due to rising power costs and falling aluminum prices. See Full Analysis for Alcoa Here Importance Of Aluminum Prices For Alcoa Alcoa is organized into four business segments: Alumina, which mines bauxite and processes it into the precursor to aluminum; Primary Metals, which smelts aluminum; Flat-rolled Products, which makes sheets used in beverage cans as well as airplane wings and car parts; and Engineered Products and Solutions, which makes aerospace fasteners, turbine blades and truck wheels. After The Brazilian Capacity Shutdown Once the shutdown is complete, Alcoa will have a total idle aluminum smelting capacity of 800,000 tonnes.
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Alcoa ( AA ) has announced that it will curtail 147,000 metric tonnes of aluminum smelting capacity at its Sao Luis (Alumar) and Pocos de Caldas smelters in Brazil due to rising power costs and falling aluminum prices. This makes its earnings highly sensitive to aluminum prices. The country currently has an installed aluminum smelting capacity of around 30 million tonnes out of the global total capacity of 50 million tonnes.
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4e643be1-74eb-4fb3-863b-0a8cfe65d1d1
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1173.0
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2014-04-07 00:00:00 UTC
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Momentum Slide to Continue for Netflix, Facebook? - Analyst Blog
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AA
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https://www.nasdaq.com/articles/momentum-slide-continue-netflix-facebook-analyst-blog-2014-04-07
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nan
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nan
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It was rough sailing for stocks on Friday with all major indices taking losses. The Dow lost 0.96% while the S&P 500 shed 1.25% by the end of the trading day. But the biggest sufferer was the Nasdaq, which closed the day 2.6% lower.
Internet, Biotech Stocks Take a Hit
This is the tech-heavy index's highest daily percentage loss since February. The decline comes right after Thursday's loss of 1%. The index is now 5% lower than its highest close this year, a milestone achieved on March 5.
More importantly, it was a cruel day for momentum stocks. Facebook, Inc. ( FB ), electric car maker Tesla Motors, Inc. ( TSLA ) and Internet radio service provider Pandora Media, Inc. ( P ) plunged 4.6%, 5.9% and 4.9%, respectively.
Meanwhile, Amazon.com Inc. ( AMZN ), Netflix, Inc. ( NFLX ) and online travel company TripAdvisor Inc. ( TRIP ) also plummeted. The stocks lost 3.2%, 4.9% and 6.1%, respectively.
Biogen Idec Inc. ( BIIB ), Gilead Sciences Inc. ( GILD ), Vertex Pharmaceuticals Incorporated ( VRTX ) and Amgen Inc. ( AMGN ) decreased 4.5%, 2.4%, 4.8% and 4.0%, respectively.
March's Trend Continues
This is a trend which has been continuing over the last month. Several big names have lost more than 20% during that period. The Street defines a drop of more than 20% or greater as a bear market and it seems that these stocks have descended into one which is their very own.
For instance, Alexion Pharmaceuticals, Inc. ( ALXN ) is 23% lower than its intraday high achieved on February 25. Meanwhile, Facebook has plummeted from the intra-day record achieved less than a month ago, losing 22% over the period. Yet the social media giant has still gained 3.8% this year, while Alexion is up 7% over the same period.
Are They Grossly Overvalued?
When using traditional valuation metrics, most of the momentum stocks seem grossly overvalued. The forward price-to-earnings ratios (P/E) for Amazon for the current financial year (F1) is 184.75. Netflix has a relatively modest P/E (F1) of 80.25. Tesla stands in between the two at 162.
Several momentum stocks fare no better when using other valuation metrics. Facebook has a P/E (F1) of 56.53, while its price to sales ratio is 17.76. The S&P 500 has an overall price to sales ratio of 1.7, which probably makes the social networking giant the most expensive stock on the index.
Investors Grow Wary
The high valuation of these stocks seems to be the primary reason for investors growing wary of them. The fact that most of them are priced well above the market average are keeping away potential buyers, probably rightly so. Momentum stocks grow on bullish expectations and this seems to be in short supply.
Further, there remains a possibility that when these stocks do rally, investors will sell. This is in order to make up for the losses suffered in the interim since those holding these stocks may feel at this point that they were picked up at the wrong time.
Earnings Remain Key
The earnings season will officially get underway this week when Alcoa Inc. ( AA ) reports its quarterly numbers. Earnings expectations for the first quarter of the new financial year are on the lower side. This is primarily due to the fact that a long and bitter winter season has grievously affected several sectors such as construction.
Additionally, there is some concern that the weakness in these big name stocks will spread over into the larger market. This seems unlikely and weakness in the broader markets may also be a result of wariness ahead of earnings. Several analysts are of the view that given the low level of expectations most companies will beat the Street's estimates.
For now, however, investors are looking for bargains elsewhere. These include industrials and financial stocks. Even the older and more established tech companies are emerging as good options. Momentum stocks may soon bounce back, but for now earnings hold the key. Good results may help them greatly while a slip up may keep them in the doldrums for a while longer.
ALCOA INC (AA): Free Stock Analysis Report
ALEXION PHARMA (ALXN): Free Stock Analysis Report
AMGEN INC (AMGN): Free Stock Analysis Report
AMAZON.COM INC (AMZN): Free Stock Analysis Report
BIOGEN IDEC INC (BIIB): Free Stock Analysis Report
FACEBOOK INC-A (FB): Free Stock Analysis Report
GILEAD SCIENCES (GILD): Free Stock Analysis Report
NETFLIX INC (NFLX): Free Stock Analysis Report
PANDORA MEDIA (P): Free Stock Analysis Report
TRIPADVISOR INC (TRIP): Free Stock Analysis Report
TESLA MOTORS (TSLA): Free Stock Analysis Report
VERTEX PHARM (VRTX): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Earnings Remain Key The earnings season will officially get underway this week when Alcoa Inc. ( AA ) reports its quarterly numbers. ALCOA INC (AA): Free Stock Analysis Report ALEXION PHARMA (ALXN): Free Stock Analysis Report AMGEN INC (AMGN): Free Stock Analysis Report AMAZON.COM INC (AMZN): Free Stock Analysis Report BIOGEN IDEC INC (BIIB): Free Stock Analysis Report FACEBOOK INC-A (FB): Free Stock Analysis Report GILEAD SCIENCES (GILD): Free Stock Analysis Report NETFLIX INC (NFLX): Free Stock Analysis Report PANDORA MEDIA (P): Free Stock Analysis Report TRIPADVISOR INC (TRIP): Free Stock Analysis Report TESLA MOTORS (TSLA): Free Stock Analysis Report VERTEX PHARM (VRTX): Free Stock Analysis Report To read this article on Zacks.com click here. Facebook, Inc. ( FB ), electric car maker Tesla Motors, Inc. ( TSLA ) and Internet radio service provider Pandora Media, Inc. ( P ) plunged 4.6%, 5.9% and 4.9%, respectively.
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ALCOA INC (AA): Free Stock Analysis Report ALEXION PHARMA (ALXN): Free Stock Analysis Report AMGEN INC (AMGN): Free Stock Analysis Report AMAZON.COM INC (AMZN): Free Stock Analysis Report BIOGEN IDEC INC (BIIB): Free Stock Analysis Report FACEBOOK INC-A (FB): Free Stock Analysis Report GILEAD SCIENCES (GILD): Free Stock Analysis Report NETFLIX INC (NFLX): Free Stock Analysis Report PANDORA MEDIA (P): Free Stock Analysis Report TRIPADVISOR INC (TRIP): Free Stock Analysis Report TESLA MOTORS (TSLA): Free Stock Analysis Report VERTEX PHARM (VRTX): Free Stock Analysis Report To read this article on Zacks.com click here. Earnings Remain Key The earnings season will officially get underway this week when Alcoa Inc. ( AA ) reports its quarterly numbers. Meanwhile, Amazon.com Inc. ( AMZN ), Netflix, Inc. ( NFLX ) and online travel company TripAdvisor Inc. ( TRIP ) also plummeted.
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ALCOA INC (AA): Free Stock Analysis Report ALEXION PHARMA (ALXN): Free Stock Analysis Report AMGEN INC (AMGN): Free Stock Analysis Report AMAZON.COM INC (AMZN): Free Stock Analysis Report BIOGEN IDEC INC (BIIB): Free Stock Analysis Report FACEBOOK INC-A (FB): Free Stock Analysis Report GILEAD SCIENCES (GILD): Free Stock Analysis Report NETFLIX INC (NFLX): Free Stock Analysis Report PANDORA MEDIA (P): Free Stock Analysis Report TRIPADVISOR INC (TRIP): Free Stock Analysis Report TESLA MOTORS (TSLA): Free Stock Analysis Report VERTEX PHARM (VRTX): Free Stock Analysis Report To read this article on Zacks.com click here. Earnings Remain Key The earnings season will officially get underway this week when Alcoa Inc. ( AA ) reports its quarterly numbers. The S&P 500 has an overall price to sales ratio of 1.7, which probably makes the social networking giant the most expensive stock on the index.
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Earnings Remain Key The earnings season will officially get underway this week when Alcoa Inc. ( AA ) reports its quarterly numbers. ALCOA INC (AA): Free Stock Analysis Report ALEXION PHARMA (ALXN): Free Stock Analysis Report AMGEN INC (AMGN): Free Stock Analysis Report AMAZON.COM INC (AMZN): Free Stock Analysis Report BIOGEN IDEC INC (BIIB): Free Stock Analysis Report FACEBOOK INC-A (FB): Free Stock Analysis Report GILEAD SCIENCES (GILD): Free Stock Analysis Report NETFLIX INC (NFLX): Free Stock Analysis Report PANDORA MEDIA (P): Free Stock Analysis Report TRIPADVISOR INC (TRIP): Free Stock Analysis Report TESLA MOTORS (TSLA): Free Stock Analysis Report VERTEX PHARM (VRTX): Free Stock Analysis Report To read this article on Zacks.com click here. The index is now 5% lower than its highest close this year, a milestone achieved on March 5.
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7727f4eb-7bae-4ad4-bd39-cec020080a39
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1174.0
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2014-04-04 00:00:00 UTC
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Will Q1 Earnings Be the Low Point for the Year? - Earnings Preview
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AA
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https://www.nasdaq.com/articles/will-q1-earnings-be-low-point-year-earnings-preview-2014-04-04
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nan
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nan
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Will Q1 Earnings Be the Low Point for the Year?
The 2014 Q1 earnings season takes center stage this week with Alcoa's ( AA ) release after the close on Tuesday. Alcoa isn't the overall first to report Q1 results, though it is the first S&P 500 member with the calendar fiscal quarter to come out with results. Companies with fiscal quarters ending in February have been reporting since mid-March and all 21 of those form part of the Q1 tally.
In fairness to Alcoa, however, the market starts paying attention to the earnings season after their earnings announcement even though the list of companies that report before it includes such industry leaders like FedEx ( FDX ), Nike ( NKE ) and others. In total, we have 33 companies reporting Q1 results this week, including 8 S&P 500 members. The reporting cycle really gets into high gear from next, as the chart below shows.
Expectations for 2014 Q1
Estimates for Q1 started coming down at an accelerated pace as companies predominantly guided lower on the 2013 Q4 earnings calls, consistent with the trend we have been seeing for more than a year now. Total Q1 earnings for companies in the S&P 500 are currently expected to be down -3.3% from the same period last year, a material decline from the +2.1% growth expected in early January 2014. Please note that the expected Q1 earnings decline has been exacerbated by Google's new class of stock. Excluding Google from the S&P 500, total S&P 500 earnings would be down (only) -2.7%.
The negative revision trend is widespread, but is particularly notable for the Retail, Basic Materials, Autos, Consumer Staples, and the Energy sectors, as the chart below shows.
With roughly two-thirds of S&P 500 companies beating earnings expectations in any reporting cycle, actual Q1 results will almost certainly be better than these pre-season expectations. But Q1 is unlikely to repeat the performance of the last few quarters where we would witness a new all-time earnings total record each quarter. Total earnings for the S&P 500 reached a new all-time record of $267.6 billion in 2013 Q4.
Current estimates for 2014 Q1 aggregate to a quarterly total of $248.8 billion, but the expectation is that Q1 will be the low point for earnings this year, both in terms of earnings totals as well as the growth rate. Consensus expectations reflect a rebound in Q2, with the earnings totals in each of the following three quarters of the year setting new all-time records one after the other.
The chart below shows the aggregate quarterly earnings for the S&P 500 as whole.
Given the low Q1 expectations, it wouldn't take much for companies to come out ahead of them. Roughly two-thirds of the S&P 500 members beat earnings expectations every quarter any way. So, more results along those lines would be nothing new and wouldn't tell us much about the health of corporate earnings.
What we haven't seen for a while instead is some evidence of strength on the revenue front and favorable comments from management teams about business outlook. Corporate guidance has been negative for almost two years now, causing estimates to keep coming down and the long hoped-for earnings growth turnaround getting pushed forward. Guidance is important in any earnings season, but it is particularly important this time around given the relatively elevated expectations for the second half of the year and beyond.
Scorecard for 2014 Q1 ( as of Friday, April 4th )
Total earnings for the 21 S&P 500 members were up +14.2% from the same period last year, with a 'beat ratio' of 57.1% and a median surprise of +1.9%. Total revenues were in the positive column as well, up +6.1%, with a revenue 'beat ratio' of 47.6% and a median surprise of +0.1%.
It's premature to draw any conclusions from this small sample of results, but the growth rates and beat ratios for these 21 companies in Q1 are weaker than what we have seen from the same group of companies in other recent quarters. It has overall been a fairly uninspiring start to the Q1 earnings season.
For a detailed look at the earnings picture, please check out our weekly Earnings Trends report .
Monday-4/7
Not much on the economic or earnings calendars.
Tuesday -4/8
Not much on theeconomic calendar though Alcoa will be reporting results after the close.
Alcoa's estimates have inched up in recent days, with the current Zacks Consensus EPS of 5 cents up a penny over the last 7 days.
WD-40 Company ( WDFC ) is the other notable company reporting results after the close.
Wednesday-4/9
We will get minutes of the Fed's March 19 meeting in the afternoon, where it will be interesting to see discussion about the economic outlook. Unfortunately for all of us, we will most likely nothing about the '6 months' comment that the Fed Chairwoman made in her news conference after the meeting.
Constellation Brands ( STZ ) and Progressive Corp ( PGR ) will report in the morning, while Bed, Bath & Beyond ( BBBY ) will report after the close.
Thursday -4/10
While weekly Jobless Claims numbers will come out in the morning, we will get details about Federal Budget in the afternoon.
Family Dollar ( FDO ), Rite Aid ( RAD ), and Pier 1 Imports ( PIR ) are the notable companies reporting today, all in the morning.
Friday-4/11
We will get the March PPI and the advance read on the University of Michigan Sentiment survey.
J.P. Morgan ( JPM ), Wells Fargo ( WFC ) and Fastenal ( FAST ) are the key reports today, all in the morning.
Here is a list of the 33 companies reporting this week, including 8 S&P 500 members.
ALCOA INC (AA): Free Stock Analysis Report
BED BATH&BEYOND (BBBY): Free Stock Analysis Report
FASTENAL (FAST): Free Stock Analysis Report
FAMILY DOLLAR (FDO): Free Stock Analysis Report
FEDEX CORP (FDX): Free Stock Analysis Report
JPMORGAN CHASE (JPM): Free Stock Analysis Report
NIKE INC-B (NKE): Free Stock Analysis Report
PROGRESSIVE COR (PGR): Free Stock Analysis Report
PIER 1 IMPORTS (PIR): Free Stock Analysis Report
RITE AID CORP (RAD): Free Stock Analysis Report
CONSTELLATN BRD (STZ): Free Stock Analysis Report
WD 40 CO (WDFC): Free Stock Analysis Report
WELLS FARGO-NEW (WFC): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The 2014 Q1 earnings season takes center stage this week with Alcoa's ( AA ) release after the close on Tuesday. ALCOA INC (AA): Free Stock Analysis Report BED BATH&BEYOND (BBBY): Free Stock Analysis Report FASTENAL (FAST): Free Stock Analysis Report FAMILY DOLLAR (FDO): Free Stock Analysis Report FEDEX CORP (FDX): Free Stock Analysis Report JPMORGAN CHASE (JPM): Free Stock Analysis Report NIKE INC-B (NKE): Free Stock Analysis Report PROGRESSIVE COR (PGR): Free Stock Analysis Report PIER 1 IMPORTS (PIR): Free Stock Analysis Report RITE AID CORP (RAD): Free Stock Analysis Report CONSTELLATN BRD (STZ): Free Stock Analysis Report WD 40 CO (WDFC): Free Stock Analysis Report WELLS FARGO-NEW (WFC): Free Stock Analysis Report To read this article on Zacks.com click here. Expectations for 2014 Q1 Estimates for Q1 started coming down at an accelerated pace as companies predominantly guided lower on the 2013 Q4 earnings calls, consistent with the trend we have been seeing for more than a year now.
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ALCOA INC (AA): Free Stock Analysis Report BED BATH&BEYOND (BBBY): Free Stock Analysis Report FASTENAL (FAST): Free Stock Analysis Report FAMILY DOLLAR (FDO): Free Stock Analysis Report FEDEX CORP (FDX): Free Stock Analysis Report JPMORGAN CHASE (JPM): Free Stock Analysis Report NIKE INC-B (NKE): Free Stock Analysis Report PROGRESSIVE COR (PGR): Free Stock Analysis Report PIER 1 IMPORTS (PIR): Free Stock Analysis Report RITE AID CORP (RAD): Free Stock Analysis Report CONSTELLATN BRD (STZ): Free Stock Analysis Report WD 40 CO (WDFC): Free Stock Analysis Report WELLS FARGO-NEW (WFC): Free Stock Analysis Report To read this article on Zacks.com click here. The 2014 Q1 earnings season takes center stage this week with Alcoa's ( AA ) release after the close on Tuesday. Constellation Brands ( STZ ) and Progressive Corp ( PGR ) will report in the morning, while Bed, Bath & Beyond ( BBBY ) will report after the close.
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ALCOA INC (AA): Free Stock Analysis Report BED BATH&BEYOND (BBBY): Free Stock Analysis Report FASTENAL (FAST): Free Stock Analysis Report FAMILY DOLLAR (FDO): Free Stock Analysis Report FEDEX CORP (FDX): Free Stock Analysis Report JPMORGAN CHASE (JPM): Free Stock Analysis Report NIKE INC-B (NKE): Free Stock Analysis Report PROGRESSIVE COR (PGR): Free Stock Analysis Report PIER 1 IMPORTS (PIR): Free Stock Analysis Report RITE AID CORP (RAD): Free Stock Analysis Report CONSTELLATN BRD (STZ): Free Stock Analysis Report WD 40 CO (WDFC): Free Stock Analysis Report WELLS FARGO-NEW (WFC): Free Stock Analysis Report To read this article on Zacks.com click here. The 2014 Q1 earnings season takes center stage this week with Alcoa's ( AA ) release after the close on Tuesday. In fairness to Alcoa, however, the market starts paying attention to the earnings season after their earnings announcement even though the list of companies that report before it includes such industry leaders like FedEx ( FDX ), Nike ( NKE ) and others.
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The 2014 Q1 earnings season takes center stage this week with Alcoa's ( AA ) release after the close on Tuesday. ALCOA INC (AA): Free Stock Analysis Report BED BATH&BEYOND (BBBY): Free Stock Analysis Report FASTENAL (FAST): Free Stock Analysis Report FAMILY DOLLAR (FDO): Free Stock Analysis Report FEDEX CORP (FDX): Free Stock Analysis Report JPMORGAN CHASE (JPM): Free Stock Analysis Report NIKE INC-B (NKE): Free Stock Analysis Report PROGRESSIVE COR (PGR): Free Stock Analysis Report PIER 1 IMPORTS (PIR): Free Stock Analysis Report RITE AID CORP (RAD): Free Stock Analysis Report CONSTELLATN BRD (STZ): Free Stock Analysis Report WD 40 CO (WDFC): Free Stock Analysis Report WELLS FARGO-NEW (WFC): Free Stock Analysis Report To read this article on Zacks.com click here. Alcoa isn't the overall first to report Q1 results, though it is the first S&P 500 member with the calendar fiscal quarter to come out with results.
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72f69063-7827-413b-b9d0-04e4c9dcc9cc
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1175.0
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2014-04-03 00:00:00 UTC
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Taking Stock of the Q1 Earnings Season - Earnings Trends
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AA
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https://www.nasdaq.com/articles/taking-stock-q1-earnings-season-earnings-trends-2014-04-03
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nan
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nan
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The following is an excerpt from this week's Earnings Trends article. To see the full report, please click here .
Taking Stock of the Q1 Earnings Season
The 2014 Q1 earnings season takes center stage from next week onwards even though the reporting cycle has actually been underway for a couple of weeks. The reports thus far (19 S&P 500 companies have reported results) are from companies with fiscal quarters ending in February, which we count as part of the Q1 tally. Results for companies with March ending quarter will start next week with Alcoa's ( AA ) release on April 8th.
Many of these early February quarter-ending companies aren't obscure players as the list includes industry leaders like FedEx ( FDX ), Nike ( NKE ), Oracle ( ORCL ), and others. These initial reports don't inspire much confidence and appear to be pointing towards another underwhelming reporting season ahead. But it's perhaps premature to draw any firm conclusions based on such an unrepresentative sample of reports.
The chart below shows weekly schedule for how Q1 results will come out.
Expectations for the Q1 earnings season as whole remain low, with total earnings expected to be down -2.6% from the same period last year on +1.0% higher revenues and modestly lower margins. As has been the trend for more than a year now, estimates for Q1 came down sharply as the quarter unfolded. The current -2.6% decline in total earnings in Q1 is down from +2.1% growth expected at the start of the quarter in January.
Current estimates for total S&P 500 earnings in Q1 are down -2.9% from what was expected at the start of the quarter in early January. This magnitude of negative revision to Q1 earnings over the last three months is greater than what we witnessed in the comparable period in 2013 Q4, but is broadly in-line with the magnitude of the 4-quarter average of negative revision.
The chart below shows the magnitude of negative earnings revision for 2014 Q1 and each of the preceding four quarters over the course of each quarter.
Estimates for Q1 have fallen across the board, but the trend is particularly notable for the Retail, Basic Materials, Autos, Consumer Staples, and the Energy sectors, as the chart below shows.
With two-thirds of S&P 500 members typically beating earnings estimates in any reporting cycle, actual Q1 results will almost certainly be better than these pre-season expectations. But Q1 is unlikely to repeat the performance of the last few quarters when we would witness new all-time records for total earnings each quarter.
Guidance has been overwhelmingly weak for more than a year now, keeping the revisions trend firmly in the negative direction. Odds are that we wouldn't see any change on that front this earnings season either, bringing down estimates for the rest of the year. Investors haven't cared about negative estimate revisions thus far, but it will be interesting that behavior will remain in place going forward as well.
Key Points
The 2014 Q1 earnings season has gotten underway with results from 19 S&P 500 members (with fiscal quarters ending in February) already out. The reporting cycle gets into high gear from next week onwards.
Total earnings for the 19 S&P 500 companies that have reported results are up +0.5%, with 57.9% beating earnings expectations. Revenues for these companies are up +4.3%, with a revenue 'beat ratio' of 47.4%. The performance from these companies is weaker than what we have seen from this same group of companies in recent quarters.
For the S&P 500 companies as whole, total Q1 earnings are expected to be down -2.6% from the same period last year, on +1% higher revenues and 35 basis points in lower margins. Sequentially, total earnings for the S&P 500 are expected to be down -6.3%.
Estimates fell sharply as the quarter unfolded, with the current -2.6% decline in total earnings down from expectations of +2.1% positive growth in early January.
The growth weakness is broad-based and not concentrated in any one sector, with 10 of the 16 Zacks sectors expected to show earnings declines in Q1. Among the major sectors, earnings are expected at this stage to be down -3.9% in Finance, -4.2% in Technology, -6.9% in Energy, and -13.5% in Autos. Business Services and Utilities are the only sectors expected to show double-digit earnings growth.
The Q1 earnings season is expected to be the low point of this year's earnings picture, both in terms of total earnings as well as the growth rate. Total quarterly earnings reached an all-time record in 2013 Q4, but are expected to fall short of that level in 2014 Q1. Expectations for the coming quarters reflect a strong ramp up, with each of the following three quarters a new all-time record.
Guidance has overwhelmingly been negative in recent quarters and we saw the same trend in place with the initial Q1 reports. Continuation of that trend through the rest of this earnings season will result in the by-now all-too-familiar negative revisions to estimates for 2014 Q2.
Total earnings in Q2 are currently expected to be up +5.4%, followed by growth rates of +7.2% in Q3 and +9.4% in Q4. For the full year, total earnings are expected to be up +7.8% in 2014 and +11.7% in 2015.
The bottom-up 'EPS' estimate for the S&P 500 for 2014 currently stands at $116.60, while the top-down estimate for the same is currently at $117.25. For 2015, the bottom-up estimate remains $130.19.
To see the full Earnings Trends report, please click here .
ALCOA INC (AA): Free Stock Analysis Report
FEDEX CORP (FDX): Free Stock Analysis Report
NIKE INC-B (NKE): Free Stock Analysis Report
ORACLE CORP (ORCL): Free Stock Analysis Report
To read this article on Zacks.com click here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Results for companies with March ending quarter will start next week with Alcoa's ( AA ) release on April 8th. ALCOA INC (AA): Free Stock Analysis Report FEDEX CORP (FDX): Free Stock Analysis Report NIKE INC-B (NKE): Free Stock Analysis Report ORACLE CORP (ORCL): Free Stock Analysis Report To read this article on Zacks.com click here. Many of these early February quarter-ending companies aren't obscure players as the list includes industry leaders like FedEx ( FDX ), Nike ( NKE ), Oracle ( ORCL ), and others.
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ALCOA INC (AA): Free Stock Analysis Report FEDEX CORP (FDX): Free Stock Analysis Report NIKE INC-B (NKE): Free Stock Analysis Report ORACLE CORP (ORCL): Free Stock Analysis Report To read this article on Zacks.com click here. Results for companies with March ending quarter will start next week with Alcoa's ( AA ) release on April 8th. Taking Stock of the Q1 Earnings Season The 2014 Q1 earnings season takes center stage from next week onwards even though the reporting cycle has actually been underway for a couple of weeks.
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Results for companies with March ending quarter will start next week with Alcoa's ( AA ) release on April 8th. ALCOA INC (AA): Free Stock Analysis Report FEDEX CORP (FDX): Free Stock Analysis Report NIKE INC-B (NKE): Free Stock Analysis Report ORACLE CORP (ORCL): Free Stock Analysis Report To read this article on Zacks.com click here. Expectations for the Q1 earnings season as whole remain low, with total earnings expected to be down -2.6% from the same period last year on +1.0% higher revenues and modestly lower margins.
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Results for companies with March ending quarter will start next week with Alcoa's ( AA ) release on April 8th. ALCOA INC (AA): Free Stock Analysis Report FEDEX CORP (FDX): Free Stock Analysis Report NIKE INC-B (NKE): Free Stock Analysis Report ORACLE CORP (ORCL): Free Stock Analysis Report To read this article on Zacks.com click here. As has been the trend for more than a year now, estimates for Q1 came down sharply as the quarter unfolded.
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6879603a-80ad-4ced-804f-129a39248edf
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1176.0
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2014-04-03 00:00:00 UTC
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Taking Stock of the Q1 Earnings Season - Earnings Outlook
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AA
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https://www.nasdaq.com/articles/taking-stock-q1-earnings-season-earnings-outlook-2014-04-03
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nan
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nan
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The following is an excerpt from this week's Earnings Trends article. To see the full report, please click here .
Taking Stock of the Q1 Earnings Season
The 2014 Q1 earnings season takes center stage from next week onwards even though the reporting cycle has actually been underway for a couple of weeks. The reports thus far (19 S&P 500 companies have reported results) are from companies with fiscal quarters ending in February, which we count as part of the Q1 tally. Results for companies with March ending quarter will start next week with Alcoa's ( AA ) release on April 8th.
Many of these early February quarter-ending companies aren't obscure players as the list includes industry leaders like FedEx ( FDX ), Nike ( NKE ), Oracle ( ORCL ), and others. These initial reports don't inspire much confidence and appear to be pointing towards another underwhelming reporting season ahead. But it's perhaps premature to draw any firm conclusions based on such an unrepresentative sample of reports.
The chart below shows weekly schedule for how Q1 results will come out.
Expectations for the Q1 earnings season as whole remain low, with total earnings expected to be down -2.6% from the same period last year on +1.0% higher revenues and modestly lower margins. As has been the trend for more than a year now, estimates for Q1 came down sharply as the quarter unfolded. The current -2.6% decline in total earnings in Q1 is down from +2.1% growth expected at the start of the quarter in January.
Current estimates for total S&P 500 earnings in Q1 are down -2.9% from what was expected at the start of the quarter in early January. This magnitude of negative revision to Q1 earnings over the last three months is greater than what we witnessed in the comparable period in 2013 Q4, but is broadly in-line with the magnitude of the 4-quarter average of negative revision.
The chart below shows the magnitude of negative earnings revision for 2014 Q1 and each of the preceding four quarters over the course of each quarter.
Estimates for Q1 have fallen across the board, but the trend is particularly notable for the Retail, Basic Materials, Autos, Consumer Staples, and the Energy sectors, as the chart below shows.
With two-thirds of S&P 500 members typically beating earnings estimates in any reporting cycle, actual Q1 results will almost certainly be better than these pre-season expectations. But Q1 is unlikely to repeat the performance of the last few quarters when we would witness new all-time records for total earnings each quarter.
Guidance has been overwhelmingly weak for more than a year now, keeping the revisions trend firmly in the negative direction. Odds are that we wouldn't see any change on that front this earnings season either, bringing down estimates for the rest of the year. Investors haven't cared about negative estimate revisions thus far, but it will be interesting that behavior will remain in place going forward as well.
Key Points
The 2014 Q1 earnings season has gotten underway with results from 19 S&P 500 members (with fiscal quarters ending in February) already out. The reporting cycle gets into high gear from next week onwards.
Total earnings for the 19 S&P 500 companies that have reported results are up +0.5%, with 57.9% beating earnings expectations. Revenues for these companies are up +4.3%, with a revenue 'beat ratio' of 47.4%. The performance from these companies is weaker than what we have seen from this same group of companies in recent quarters.
For the S&P 500 companies as whole, total Q1 earnings are expected to be down -2.6% from the same period last year, on +1% higher revenues and 35 basis points in lower margins. Sequentially, total earnings for the S&P 500 are expected to be down -6.3%.
Estimates fell sharply as the quarter unfolded, with the current -2.6% decline in total earnings down from expectations of +2.1% positive growth in early January.
The growth weakness is broad-based and not concentrated in any one sector, with 10 of the 16 Zacks sectors expected to show earnings declines in Q1. Among the major sectors, earnings are expected at this stage to be down -3.9% in Finance, -4.2% in Technology, -6.9% in Energy, and -13.5% in Autos. Business Services and Utilities are the only sectors expected to show double-digit earnings growth.
The Q1 earnings season is expected to be the low point of this year's earnings picture, both in terms of total earnings as well as the growth rate. Total quarterly earnings reached an all-time record in 2013 Q4, but are expected to fall short of that level in 2014 Q1. Expectations for the coming quarters reflect a strong ramp up, with each of the following three quarters a new all-time record.
Guidance has overwhelmingly been negative in recent quarters and we saw the same trend in place with the initial Q1 reports. Continuation of that trend through the rest of this earnings season will result in the by-now all-too-familiar negative revisions to estimates for 2014 Q2.
Total earnings in Q2 are currently expected to be up +5.4%, followed by growth rates of +7.2% in Q3 and +9.4% in Q4. For the full year, total earnings are expected to be up +7.8% in 2014 and +11.7% in 2015.
The bottom-up 'EPS' estimate for the S&P 500 for 2014 currently stands at $116.60, while the top-down estimate for the same is currently at $117.25. For 2015, the bottom-up estimate remains $130.19.
To see the full Earnings Trends report, please click here .
ALCOA INC (AA): Free Stock Analysis Report
FEDEX CORP (FDX): Free Stock Analysis Report
NIKE INC-B (NKE): Free Stock Analysis Report
ORACLE CORP (ORCL): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Results for companies with March ending quarter will start next week with Alcoa's ( AA ) release on April 8th. ALCOA INC (AA): Free Stock Analysis Report FEDEX CORP (FDX): Free Stock Analysis Report NIKE INC-B (NKE): Free Stock Analysis Report ORACLE CORP (ORCL): Free Stock Analysis Report To read this article on Zacks.com click here. Many of these early February quarter-ending companies aren't obscure players as the list includes industry leaders like FedEx ( FDX ), Nike ( NKE ), Oracle ( ORCL ), and others.
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ALCOA INC (AA): Free Stock Analysis Report FEDEX CORP (FDX): Free Stock Analysis Report NIKE INC-B (NKE): Free Stock Analysis Report ORACLE CORP (ORCL): Free Stock Analysis Report To read this article on Zacks.com click here. Results for companies with March ending quarter will start next week with Alcoa's ( AA ) release on April 8th. Taking Stock of the Q1 Earnings Season The 2014 Q1 earnings season takes center stage from next week onwards even though the reporting cycle has actually been underway for a couple of weeks.
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Results for companies with March ending quarter will start next week with Alcoa's ( AA ) release on April 8th. ALCOA INC (AA): Free Stock Analysis Report FEDEX CORP (FDX): Free Stock Analysis Report NIKE INC-B (NKE): Free Stock Analysis Report ORACLE CORP (ORCL): Free Stock Analysis Report To read this article on Zacks.com click here. Expectations for the Q1 earnings season as whole remain low, with total earnings expected to be down -2.6% from the same period last year on +1.0% higher revenues and modestly lower margins.
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Results for companies with March ending quarter will start next week with Alcoa's ( AA ) release on April 8th. ALCOA INC (AA): Free Stock Analysis Report FEDEX CORP (FDX): Free Stock Analysis Report NIKE INC-B (NKE): Free Stock Analysis Report ORACLE CORP (ORCL): Free Stock Analysis Report To read this article on Zacks.com click here. As has been the trend for more than a year now, estimates for Q1 came down sharply as the quarter unfolded.
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7eaa3133-cd08-4b8d-9341-51db9850e2c8
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1177.0
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2014-04-02 00:00:00 UTC
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S&P 500 Movers: AA, NEM
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AA
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https://www.nasdaq.com/articles/sp-500-movers-aa-nem-2014-04-02
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nan
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nan
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In early trading on Wednesday, shares of Newmont Mining ( NEM ) topped the list of the day's best performing components of the S&P 500 index, trading up 2.8%. Year to date, Newmont Mining registers a 4.6% gain.
And the worst performing S&P 500 component thus far on the day is Alcoa ( AA ), trading down 2.1%. Alcoa is showing a gain of 20.0% looking at the year to date performance.
Two other components making moves today are Marathon Petroleum ( MPC ), trading down 1.9%, and Dover Corp. ( DOV ), trading up 2.8% on the day.
VIDEO: S&P 500 Movers: AA, NEM
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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And the worst performing S&P 500 component thus far on the day is Alcoa ( AA ), trading down 2.1%. VIDEO: S&P 500 Movers: AA, NEM The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Year to date, Newmont Mining registers a 4.6% gain.
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And the worst performing S&P 500 component thus far on the day is Alcoa ( AA ), trading down 2.1%. VIDEO: S&P 500 Movers: AA, NEM The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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VIDEO: S&P 500 Movers: AA, NEM The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. And the worst performing S&P 500 component thus far on the day is Alcoa ( AA ), trading down 2.1%. In early trading on Wednesday, shares of Newmont Mining ( NEM ) topped the list of the day's best performing components of the S&P 500 index, trading up 2.8%.
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And the worst performing S&P 500 component thus far on the day is Alcoa ( AA ), trading down 2.1%. VIDEO: S&P 500 Movers: AA, NEM The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. In early trading on Wednesday, shares of Newmont Mining ( NEM ) topped the list of the day's best performing components of the S&P 500 index, trading up 2.8%.
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7ad35252-718d-4a82-8109-21cfd6a2dab3
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1178.0
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2014-03-31 00:00:00 UTC
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Alcoa to Cut Capacity in Brazil - Analyst Blog
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AA
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https://www.nasdaq.com/articles/alcoa-to-cut-capacity-in-brazil-analyst-blog-2014-03-31
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nan
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nan
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Aluminum giant, Alcoa Inc. ( AA ) announced that it will cut 147,000 metric tons of smelting capacity at its Sao Luis (Alumar) and Pocos de Caldas smelters in Brazil. The company is cutting capacity to address the challenging market conditions as well as increasing costs that made the smelters uncompetitive.
At the Poços smelter, Alcoa will curtail 62,000 metric tons of capacity and 85,000 metric tons will be curtailed at Sao Luis. The curtailments are expected to be complete by the end of May 2014.
As a result of the cutbacks, the three potlines of the Pocos smelter will be fully curtailed and the Pocos refinery will also reduce production. However, the mine, aluminum powder plant and casthouse at Poços will carry on with their normal operations. The refinery at Sao Luis will also continue with the normal operations.
The company expects to incur restructuring charges in the range of $40 million and $50 million after-tax, or 4 cents to 5 cents per share in the first quarter related to the curtailments in Brazil. 30% of the expense incurred will be non cash.
In May 2013, Alcoa announced that it will review 460,000 metric tons of smelting capacity over the next 15 months for potential curtailment. Once the company completes all the curtailments and closures, it will have about 80,000 metric tons or 21% of smelting capacity offline.
Earlier in Feb 2014, Alcoa announced that it will permanently shut down its Point Henry aluminum smelter and two rolling mills in Australia by the end of 2014. Alcoa had put the Point Henry smelter under strategic review since 2012 due to the challenging market conditions and found that the smelter had no prospect of becoming financially viable.
Alcoa remains on track to move down the cost curve and curtailed capacities in its upstream business. The curtailments will improve the competitiveness of the company's Primary Products business.
Alcoa, a prominent player in the mining industry along with Aluminum Corporation of China Ltd. ( ACH ) , Atlatsa Resources Corp. ( ATL ) and B HP Billiton Ltd. ( BHP ), is a world leader in production and management of primary aluminum, fabricated aluminum, and alumina. The company currently retains a short-term Zacks Rank #2 (Buy).
ALCOA INC (AA): Free Stock Analysis Report
ATLATSA RESRCS (ATL): Free Stock Analysis Report
BHP BILLITN LTD (BHP): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Aluminum giant, Alcoa Inc. ( AA ) announced that it will cut 147,000 metric tons of smelting capacity at its Sao Luis (Alumar) and Pocos de Caldas smelters in Brazil. ALCOA INC (AA): Free Stock Analysis Report ATLATSA RESRCS (ATL): Free Stock Analysis Report BHP BILLITN LTD (BHP): Free Stock Analysis Report To read this article on Zacks.com click here. The company is cutting capacity to address the challenging market conditions as well as increasing costs that made the smelters uncompetitive.
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Aluminum giant, Alcoa Inc. ( AA ) announced that it will cut 147,000 metric tons of smelting capacity at its Sao Luis (Alumar) and Pocos de Caldas smelters in Brazil. ALCOA INC (AA): Free Stock Analysis Report ATLATSA RESRCS (ATL): Free Stock Analysis Report BHP BILLITN LTD (BHP): Free Stock Analysis Report To read this article on Zacks.com click here. At the Poços smelter, Alcoa will curtail 62,000 metric tons of capacity and 85,000 metric tons will be curtailed at Sao Luis.
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Aluminum giant, Alcoa Inc. ( AA ) announced that it will cut 147,000 metric tons of smelting capacity at its Sao Luis (Alumar) and Pocos de Caldas smelters in Brazil. ALCOA INC (AA): Free Stock Analysis Report ATLATSA RESRCS (ATL): Free Stock Analysis Report BHP BILLITN LTD (BHP): Free Stock Analysis Report To read this article on Zacks.com click here. At the Poços smelter, Alcoa will curtail 62,000 metric tons of capacity and 85,000 metric tons will be curtailed at Sao Luis.
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Aluminum giant, Alcoa Inc. ( AA ) announced that it will cut 147,000 metric tons of smelting capacity at its Sao Luis (Alumar) and Pocos de Caldas smelters in Brazil. ALCOA INC (AA): Free Stock Analysis Report ATLATSA RESRCS (ATL): Free Stock Analysis Report BHP BILLITN LTD (BHP): Free Stock Analysis Report To read this article on Zacks.com click here. At the Poços smelter, Alcoa will curtail 62,000 metric tons of capacity and 85,000 metric tons will be curtailed at Sao Luis.
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9cb801a6-980c-4765-8413-e0b428999ff4
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1179.0
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2014-03-31 00:00:00 UTC
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Monday's ETF with Unusual Volume: GNR
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AA
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https://www.nasdaq.com/articles/mondays-etf-unusual-volume-gnr-2014-03-31
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nan
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nan
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The SPDR S&P Global Natural Resources ETF ( GNR ) is seeing unusually high volume in afternoon trading Monday, with over 339,000 shares traded versus three month average volume of about 92,000. Shares of GNR were up about 0.7% on the day.
Components of that ETF with the highest volume on Monday were Alcoa ( AA ), trading up about 3.1% with over 21.7 million shares changing hands so far this session, and Vale ( VALE ), up about 1.7% on volume of over 14.3 million shares. Genocea Biosciences (G.CA) is lagging other components of the SPDR S&P Global Natural Resources ETF Monday, trading lower by about 2.4%.
VIDEO: Monday's ETF with Unusual Volume: GNR
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Components of that ETF with the highest volume on Monday were Alcoa ( AA ), trading up about 3.1% with over 21.7 million shares changing hands so far this session, and Vale ( VALE ), up about 1.7% on volume of over 14.3 million shares. The SPDR S&P Global Natural Resources ETF ( GNR ) is seeing unusually high volume in afternoon trading Monday, with over 339,000 shares traded versus three month average volume of about 92,000. Genocea Biosciences (G.CA) is lagging other components of the SPDR S&P Global Natural Resources ETF Monday, trading lower by about 2.4%.
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Components of that ETF with the highest volume on Monday were Alcoa ( AA ), trading up about 3.1% with over 21.7 million shares changing hands so far this session, and Vale ( VALE ), up about 1.7% on volume of over 14.3 million shares. The SPDR S&P Global Natural Resources ETF ( GNR ) is seeing unusually high volume in afternoon trading Monday, with over 339,000 shares traded versus three month average volume of about 92,000. Genocea Biosciences (G.CA) is lagging other components of the SPDR S&P Global Natural Resources ETF Monday, trading lower by about 2.4%.
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Components of that ETF with the highest volume on Monday were Alcoa ( AA ), trading up about 3.1% with over 21.7 million shares changing hands so far this session, and Vale ( VALE ), up about 1.7% on volume of over 14.3 million shares. The SPDR S&P Global Natural Resources ETF ( GNR ) is seeing unusually high volume in afternoon trading Monday, with over 339,000 shares traded versus three month average volume of about 92,000. VIDEO: Monday's ETF with Unusual Volume: GNR The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Components of that ETF with the highest volume on Monday were Alcoa ( AA ), trading up about 3.1% with over 21.7 million shares changing hands so far this session, and Vale ( VALE ), up about 1.7% on volume of over 14.3 million shares. The SPDR S&P Global Natural Resources ETF ( GNR ) is seeing unusually high volume in afternoon trading Monday, with over 339,000 shares traded versus three month average volume of about 92,000. Shares of GNR were up about 0.7% on the day.
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8fe54803-7fcf-47f4-8440-5e3335166808
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1180.0
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2014-03-28 00:00:00 UTC
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Alcoa Gains on Launch of Lightweight Wheel - Analyst Blog
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AA
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https://www.nasdaq.com/articles/alcoa-gains-on-launch-of-lightweight-wheel-analyst-blog-2014-03-28
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nan
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nan
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Alcoa Inc. ( AA ) shares gained 6% as the aluminum giant launched its latest innovation - the world's lightest heavy-duty truck wheel, the Ultra ONE. Ultra ONE is a new 40-pound wheel and being 47% lighter than steel wheels of the same size will help trucks carry more load and also improve fuel efficiency. Alcoa Wheel and Transportation Products, a business unit of Alcoa, has come up with this new innovation.
The Ultra ONE can save about 1,400 pounds per rig which will help the fleets to carry more goods while meeting the severe federal emissions regulations. Fleets have been increasingly converted to aluminum wheels, thereby reducing the need of pollution-control equipment that is used to meet federal emissions regulations. The lightweight wheels help improve fuel economy which is a positive in the times of rising fuel prices. The transition to aluminum wheels from steel wheels helps in reducing annual carbon footprint emission.
Alcoa's wheels are six times brighter than competitors' wheels due to their corrosion resistant quality, which helps in lowering operators' maintenance and operating costs. As most of the companies are now switching to lightweight fleets, America's largest flatbed carrier, TMC Transportation, will also follow the same path in 2014.
The Ultra ONE wheel will utilize the MagnaForce alloy which is invented by the world's largest light metals research center, the Alcoa Technical Center. The alloy is 17% stronger than the industry standard- Alcoa's 6061 alloy.
Alcoa, which is among the prominent players in the mining industry along with Aluminum Corporation of China Limited ( ACH ), BHP Billiton Limited ( BHP ), Rio and Tinto Plc. ( RIO ), is a world leader with respect to production and management of primary aluminum, fabricated aluminum, and alumina as well as the world's largest miner of bauxite and refiner of alumina. Alcoa
ALCOA INC (AA): Free Stock Analysis Report
BHP BILLITN LTD (BHP): Free Stock Analysis Report
RIO TINTO-ADR (RIO): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Alcoa Inc. ( AA ) shares gained 6% as the aluminum giant launched its latest innovation - the world's lightest heavy-duty truck wheel, the Ultra ONE. Alcoa ALCOA INC (AA): Free Stock Analysis Report BHP BILLITN LTD (BHP): Free Stock Analysis Report RIO TINTO-ADR (RIO): Free Stock Analysis Report To read this article on Zacks.com click here. The Ultra ONE can save about 1,400 pounds per rig which will help the fleets to carry more goods while meeting the severe federal emissions regulations.
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Alcoa ALCOA INC (AA): Free Stock Analysis Report BHP BILLITN LTD (BHP): Free Stock Analysis Report RIO TINTO-ADR (RIO): Free Stock Analysis Report To read this article on Zacks.com click here. Alcoa Inc. ( AA ) shares gained 6% as the aluminum giant launched its latest innovation - the world's lightest heavy-duty truck wheel, the Ultra ONE. The lightweight wheels help improve fuel economy which is a positive in the times of rising fuel prices.
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Alcoa ALCOA INC (AA): Free Stock Analysis Report BHP BILLITN LTD (BHP): Free Stock Analysis Report RIO TINTO-ADR (RIO): Free Stock Analysis Report To read this article on Zacks.com click here. Alcoa Inc. ( AA ) shares gained 6% as the aluminum giant launched its latest innovation - the world's lightest heavy-duty truck wheel, the Ultra ONE. Alcoa's wheels are six times brighter than competitors' wheels due to their corrosion resistant quality, which helps in lowering operators' maintenance and operating costs.
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Alcoa Inc. ( AA ) shares gained 6% as the aluminum giant launched its latest innovation - the world's lightest heavy-duty truck wheel, the Ultra ONE. Alcoa ALCOA INC (AA): Free Stock Analysis Report BHP BILLITN LTD (BHP): Free Stock Analysis Report RIO TINTO-ADR (RIO): Free Stock Analysis Report To read this article on Zacks.com click here. Ultra ONE is a new 40-pound wheel and being 47% lighter than steel wheels of the same size will help trucks carry more load and also improve fuel efficiency.
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c936457e-3035-4a18-b0f8-a40705fa4eab
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1181.0
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2014-03-28 00:00:00 UTC
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Will We Finally See Some Sunshine? - Earnings Preview
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AA
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https://www.nasdaq.com/articles/will-we-finally-see-some-sunshine-earnings-preview-2014-03-28
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nan
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nan
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Will We Finally See Some Sunshine?
The focus this week is on the economy, with a number of top-tier economic reports dominating the market's attention. But the earnings season is slowly gaining attention as well.
We don't have that many earnings reports this week, but more than a dozen S&P 500 companies have already reported 2014 Q1 results (companies with fiscal quarters ending in February get counted as part of the Q1 tally). The reporting cycle will start ramping up materially from next week onwards after Alcoa's ( AA ) release. The results thus far from the likes of Nike ( NKE ), FedEx ( FDX ), Oracle ( ORCL ) and others have been underwhelming. But it's way too early to draw any firm conclusions from what we have seen thus far.
The economic data coming out this week, particularly Tuesday's manufacturing ISM survey and Friday's non-farm payroll report, is expected to show that the economy is coming out of the weather-induced soft patch. The U.S economy did reasonably well in the second half of 2013, but lost momentum at the start of this year. Investors resigned themselves to the weather explanation for the soft data at the start of the year, but expect to see data showing the economy springing back into action in the coming days.
The market is looking for evidence that the U.S. economy is on track to graduate to a higher growth pace this year than has been the case over the last few years. The first quarter has essentially been washed out because of weather, but growth is expected to resume from the second quarter onwards, with GDP growth going above the +3%-plus pace in the second half and continuing into 2015. This favorable economic outlook is at the root of strong corporate earnings estimates as well.
Expectations for 2014 Q1
Estimates for 2014 Q1 started coming down at an accelerated pace as companies predominantly guided lower on the 2013 Q4 earnings calls, consistent with the trend we have been seeing for more than a year now. Total Q1 earnings for companies in the S&P 500 are currently expected to be down -1.8% from the same period last year, a material decline from the +2.1% growth expected in early January 2014.
The negative revision trend is widespread, but is particularly notable for the Retail, Basic Materials, Autos, Consumer Staples, and the Energy sectors, as the chart below shows.
With roughly two-thirds of S&P 500 companies beating earnings expectations in any reporting cycle, actual Q1 results will almost certainly be better than these pre-season expectations. But Q1 is unlikely to repeat the performance of the last few quarters where we would witness a new all-time earnings total record each quarter. Total earnings for the S&P 500 are on track to reach $269.4 billion in 2013 Q4. This is a new all-time quarterly record for total earnings, surpassing the previous record set in 2013 Q3 at $262.7 billion. Current estimates for 2014 Q1 aggregate to a quarterly total of $251.5 billion, but the expectation is for a strong ramp up from Q2 onwards.
Scorecard for 2013 Q4 ( as of Friday, March 28th )
Total earnings for the 500 S&P 500 members were up +9.1% from the same period last year, with a 'beat ratio' of 65.6% and a median surprise of +2.4%. Total revenues were barely in the positive column, up only +0.7%, with a revenue 'beat ratio' of 57.2% and a median surprise of +0.6%. While the revenue growth rate in Q4 was held down by tough comparisons in the Finance sector, the overall earnings growth rate in the quarter was the highest of 2013.
A big contributor to the strong Q4 earnings growth was easy comparisons for three companies - Bank of America (BAC), Verizon (VZ), and Travelers (TRV). Exclude these three companies and total earnings growth for the S&P 500 companies that have reported drops to +5.5% from the 'headline' +9.1%, which is about where growth has been in recent quarters.
For a detailed look at the earnings picture, please check out our weekly Earnings Trend Report .
Monday-3/31
The Chicago PMI coming out after the market opens will give us a preview of the national manufacturing ISM index coming out on Tuesday. The Chicago index is expected to be modestly down from February's 59.8 level.
Tuesday -4/1
The manufacturing ISM survey and motor-vehicle sales for March will be coming out today. The ISM survey is expected to be up from February's 53.2 level, while car sales are expected to reach an annualized pace of 15.8 million from February's 15.3 million level.
Apollo Education Group ( APOL ), the for-profit education provider, is the notable company releasing results today after the close.
Wednesday-4/2
The March ADP jobs report will give us a preview of the government jobs report coming out on Friday. Last month, the ADP job tally of 139K had come short of BLS tally of 175K.
February Factory Orders will be the other notable economic release today
Monsanto ( MON ) will report in the morning, while oilfield services player Mitcham Industries ( MIND ) will report after the close.
Thursday -4/3
In addition to weekly Jobless Claims, we will get the service sector ISM reading.
Schnitzer Steel ( SCHN ) will report in the morning, while Micron Technology ( MU ) and Global Payments ( GPN ) will report after the close.
Friday-4/4
Today is jobs day and the spotlight will justifiably be on the March non-farm payroll report, which is expected to show headline gains of 192K vs February's 175K. Weather was the villain the last couple of months and the hope is that we get out of its grip going forward.
CarMax ( KMX ) is the only notable earning release today.
Earnings ESP or Expected Surprise Prediction, our proprietary leading indicator of positive earnings surprises is showing CarMax coming out with an earning beat.
To better understand of Zacks Expected Surprise Prediction, please click here .
Our research shows that companies with Zacks Rank of 1, 2 or 3 and positive Earnings ESP are highly likely to beat EPS estimates. CarMax has Zacks Rank #3 (Hold) and Earnings ESP of +1.9%.
Here is a list of the 56 companies reporting this week, including 3 S&P 500 members.
ALCOA INC (AA): Free Stock Analysis Report
APOLLO GROUP (APOL): Free Stock Analysis Report
FEDEX CORP (FDX): Free Stock Analysis Report
GLOBAL PAYMENTS (GPN): Free Stock Analysis Report
CARMAX GP (CC) (KMX): Free Stock Analysis Report
MONSANTO CO-NEW (MON): Free Stock Analysis Report
MICRON TECH (MU): Free Stock Analysis Report
NIKE INC-B (NKE): Free Stock Analysis Report
ORACLE CORP (ORCL): Free Stock Analysis Report
SCHNITZER STEEL (SCHN): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The reporting cycle will start ramping up materially from next week onwards after Alcoa's ( AA ) release. ALCOA INC (AA): Free Stock Analysis Report APOLLO GROUP (APOL): Free Stock Analysis Report FEDEX CORP (FDX): Free Stock Analysis Report GLOBAL PAYMENTS (GPN): Free Stock Analysis Report CARMAX GP (CC) (KMX): Free Stock Analysis Report MONSANTO CO-NEW (MON): Free Stock Analysis Report MICRON TECH (MU): Free Stock Analysis Report NIKE INC-B (NKE): Free Stock Analysis Report ORACLE CORP (ORCL): Free Stock Analysis Report SCHNITZER STEEL (SCHN): Free Stock Analysis Report To read this article on Zacks.com click here. Expectations for 2014 Q1 Estimates for 2014 Q1 started coming down at an accelerated pace as companies predominantly guided lower on the 2013 Q4 earnings calls, consistent with the trend we have been seeing for more than a year now.
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ALCOA INC (AA): Free Stock Analysis Report APOLLO GROUP (APOL): Free Stock Analysis Report FEDEX CORP (FDX): Free Stock Analysis Report GLOBAL PAYMENTS (GPN): Free Stock Analysis Report CARMAX GP (CC) (KMX): Free Stock Analysis Report MONSANTO CO-NEW (MON): Free Stock Analysis Report MICRON TECH (MU): Free Stock Analysis Report NIKE INC-B (NKE): Free Stock Analysis Report ORACLE CORP (ORCL): Free Stock Analysis Report SCHNITZER STEEL (SCHN): Free Stock Analysis Report To read this article on Zacks.com click here. The reporting cycle will start ramping up materially from next week onwards after Alcoa's ( AA ) release. The economic data coming out this week, particularly Tuesday's manufacturing ISM survey and Friday's non-farm payroll report, is expected to show that the economy is coming out of the weather-induced soft patch.
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ALCOA INC (AA): Free Stock Analysis Report APOLLO GROUP (APOL): Free Stock Analysis Report FEDEX CORP (FDX): Free Stock Analysis Report GLOBAL PAYMENTS (GPN): Free Stock Analysis Report CARMAX GP (CC) (KMX): Free Stock Analysis Report MONSANTO CO-NEW (MON): Free Stock Analysis Report MICRON TECH (MU): Free Stock Analysis Report NIKE INC-B (NKE): Free Stock Analysis Report ORACLE CORP (ORCL): Free Stock Analysis Report SCHNITZER STEEL (SCHN): Free Stock Analysis Report To read this article on Zacks.com click here. The reporting cycle will start ramping up materially from next week onwards after Alcoa's ( AA ) release. We don't have that many earnings reports this week, but more than a dozen S&P 500 companies have already reported 2014 Q1 results (companies with fiscal quarters ending in February get counted as part of the Q1 tally).
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The reporting cycle will start ramping up materially from next week onwards after Alcoa's ( AA ) release. ALCOA INC (AA): Free Stock Analysis Report APOLLO GROUP (APOL): Free Stock Analysis Report FEDEX CORP (FDX): Free Stock Analysis Report GLOBAL PAYMENTS (GPN): Free Stock Analysis Report CARMAX GP (CC) (KMX): Free Stock Analysis Report MONSANTO CO-NEW (MON): Free Stock Analysis Report MICRON TECH (MU): Free Stock Analysis Report NIKE INC-B (NKE): Free Stock Analysis Report ORACLE CORP (ORCL): Free Stock Analysis Report SCHNITZER STEEL (SCHN): Free Stock Analysis Report To read this article on Zacks.com click here. Current estimates for 2014 Q1 aggregate to a quarterly total of $251.5 billion, but the expectation is for a strong ramp up from Q2 onwards.
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a514d079-346d-49c2-b324-8e6c34d9a019
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1182.0
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2014-03-28 00:00:00 UTC
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Will Micron (MU) Miss this Earnings Season? - Analyst Blog
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AA
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https://www.nasdaq.com/articles/will-micron-mu-miss-this-earnings-season-analyst-blog-2014-03-28
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nan
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nan
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Micron Technology Inc. ( MU ) is set to report second-quarter fiscal 2014 results on Apr 3, 2014. Last quarter, the company recorded 79.07% positive surprise. The company has delivered positive earnings surprises in two of the last four quarters with an average beat of 20.93%. Let's see how things are shaping up for this announcement.
Factors this Past Quarter
Micron is benefiting from the growing demand for SSD products and has made significant investments to launch innovative SSD products to meet pent up demand.
Moreover, Micron has been constantly innovating in memory technologies, spanning DRAM, NAND and NOR Flash memory solutions, which are being widely used in the latest mobile computing devices as well as in consumer, networking and embedded products.
Additionally, we believe that the acquisitions of Rexchip and Elpida will help boost its share in the memory market. The acquisition of Elpida also brought Apple Inc. ( AAPL ) onto the customer roster, which is a positive for future growth.
However, competition from the likes of SanDisk ( SNDK ), SK Hynix and Fusion-io remain concerns.
Earnings Whispers?
Our proven model does not conclusively show that Micron is likely to beat earnings this quarter. That is because a stock needs to have both a positive Earnings ESP and a Zacks Rank of #1, 2 or 3 for this to happen. That is not the case here as you will see below.
Zacks ESP: Zacks ESP stands at -8.33%. The Most Accurate estimate stands at 55 cents while the Zacks Consensus Estimate stands at 60 cents.
Zacks Rank: Micron's Zacks Rank #3 (Hold) when combined with a -8.33% ESP makes surprise prediction difficult.
We caution against stocks with Zacks Rank #4 and 5 (Sell-rated stocks) going into the earnings announcement, especially when the company is seeing a negative estimate revisions momentum.
Another company that you may want to consider as our model shows that it has the right combination of elements to post an earnings beat is:
Alcoa Inc. ( AA ), Earnings ESP of +25.0 % and a Zacks Rank #3.
ALCOA INC (AA): Free Stock Analysis Report
APPLE INC (AAPL): Free Stock Analysis Report
MICRON TECH (MU): Free Stock Analysis Report
SANDISK CORP (SNDK): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The acquisition of Elpida also brought Apple Inc. ( AAPL ) onto the customer roster, which is a positive for future growth. Another company that you may want to consider as our model shows that it has the right combination of elements to post an earnings beat is: Alcoa Inc. ( AA ), Earnings ESP of +25.0 % and a Zacks Rank #3. ALCOA INC (AA): Free Stock Analysis Report APPLE INC (AAPL): Free Stock Analysis Report MICRON TECH (MU): Free Stock Analysis Report SANDISK CORP (SNDK): Free Stock Analysis Report To read this article on Zacks.com click here.
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Another company that you may want to consider as our model shows that it has the right combination of elements to post an earnings beat is: Alcoa Inc. ( AA ), Earnings ESP of +25.0 % and a Zacks Rank #3. ALCOA INC (AA): Free Stock Analysis Report APPLE INC (AAPL): Free Stock Analysis Report MICRON TECH (MU): Free Stock Analysis Report SANDISK CORP (SNDK): Free Stock Analysis Report To read this article on Zacks.com click here. The acquisition of Elpida also brought Apple Inc. ( AAPL ) onto the customer roster, which is a positive for future growth.
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Another company that you may want to consider as our model shows that it has the right combination of elements to post an earnings beat is: Alcoa Inc. ( AA ), Earnings ESP of +25.0 % and a Zacks Rank #3. ALCOA INC (AA): Free Stock Analysis Report APPLE INC (AAPL): Free Stock Analysis Report MICRON TECH (MU): Free Stock Analysis Report SANDISK CORP (SNDK): Free Stock Analysis Report To read this article on Zacks.com click here. The acquisition of Elpida also brought Apple Inc. ( AAPL ) onto the customer roster, which is a positive for future growth.
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Another company that you may want to consider as our model shows that it has the right combination of elements to post an earnings beat is: Alcoa Inc. ( AA ), Earnings ESP of +25.0 % and a Zacks Rank #3. The acquisition of Elpida also brought Apple Inc. ( AAPL ) onto the customer roster, which is a positive for future growth. ALCOA INC (AA): Free Stock Analysis Report APPLE INC (AAPL): Free Stock Analysis Report MICRON TECH (MU): Free Stock Analysis Report SANDISK CORP (SNDK): Free Stock Analysis Report To read this article on Zacks.com click here.
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b2731944-3fce-40ac-b62f-129f12490271
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1183.0
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2014-03-27 00:00:00 UTC
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S&P 500 Movers: ACN, BAX
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AA
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https://www.nasdaq.com/articles/sp-500-movers-acn-bax-2014-03-27
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nan
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nan
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In early trading on Thursday, shares of Baxter International ( BAX ) topped the list of the day's best performing components of the S&P 500 index, trading up 5.3%. Year to date, Baxter International registers a 6.1% gain.
And the worst performing S&P 500 component thus far on the day is Accenture ( ACN ), trading down 7.3%. Accenture is lower by about 6.4% looking at the year to date performance.
Two other components making moves today are Corp ( GME ), trading down 7.2%, and Alcoa ( AA ), trading up 4.0% on the day.
VIDEO: S&P 500 Movers: ACN, BAX
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Two other components making moves today are Corp ( GME ), trading down 7.2%, and Alcoa ( AA ), trading up 4.0% on the day. In early trading on Thursday, shares of Baxter International ( BAX ) topped the list of the day's best performing components of the S&P 500 index, trading up 5.3%. Year to date, Baxter International registers a 6.1% gain.
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Two other components making moves today are Corp ( GME ), trading down 7.2%, and Alcoa ( AA ), trading up 4.0% on the day. Year to date, Baxter International registers a 6.1% gain. VIDEO: S&P 500 Movers: ACN, BAX The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Two other components making moves today are Corp ( GME ), trading down 7.2%, and Alcoa ( AA ), trading up 4.0% on the day. In early trading on Thursday, shares of Baxter International ( BAX ) topped the list of the day's best performing components of the S&P 500 index, trading up 5.3%. VIDEO: S&P 500 Movers: ACN, BAX The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Two other components making moves today are Corp ( GME ), trading down 7.2%, and Alcoa ( AA ), trading up 4.0% on the day. In early trading on Thursday, shares of Baxter International ( BAX ) topped the list of the day's best performing components of the S&P 500 index, trading up 5.3%. And the worst performing S&P 500 component thus far on the day is Accenture ( ACN ), trading down 7.3%.
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7a96ed78-9578-419a-b36b-0a143f4735ac
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1184.0
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2014-03-20 00:00:00 UTC
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Prothena Surges on Clinical Data Hopes - Analyst Blog
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AA
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https://www.nasdaq.com/articles/prothena-surges-on-clinical-data-hopes-analyst-blog-2014-03-20
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nan
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nan
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Prothena Corporation ( PRTA ) surged a whopping 27.5% and also touched a 52-week high after the company announced that interim data from a phase I study on its pipeline candidate, NEOD001, will be presented at the XIV International Symposium on Amyloidosis (ISA).
The study is evaluating the safety, tolerability, pharmacokinetics and immunogenicity of the candidate in patients suffering from immunoglobulin light chain (AL) amyloidosis and persistent organ dysfunction. The company has plans to initiate a phase II/III study on the candidate in the fourth quarter of 2014.
NEOD001 currently enjoys orphan drug designation for the treatment of AL and amyloid A (AA) amyloidosis in the U.S. and for the treatment of AL amyloidosis in the EU. Prothena mentioned in its press release that there are no approved treatments for AL amyloidosis that directly target potentially toxic forms of the AL protein at this moment.
Prothena stated further that AL amyloidosis affects approximately 15,000 patients in the U.S. and EU. As per company sources, an estimated 1,200 to 3,200 new cases are reported each year in the U.S. As a result successful development of NEOD001 will open up an untapped decent market for Prothena. We are encouraged by the company's progress with the candidate so far and expect investor focus to remain on NEOD001 going forward.
Prothena's pipeline also includes PRX002 and PRX003. PRX002 is being developed for the treatment of Parkinson's disease and is currently in preclinical development. The company intends to initiate phase I study on the candidate later in 2014. Prothena has a worldwide collaboration agreement with Roche ( RHHBY ) for PRX002.
Prothena's other candidate, PRX003, is being developed for the treatment of inflammatory diseases and cancer. The company intends to complete Investigational New Drug application-enabling toxicology studies on the candidate this year. Prothena plans to start phase I studies on PRX003 next year.
Prothena currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the same sector include Alexion Pharmaceuticals ( ALXN ) and Gilead Sciences Inc. ( GILD ). Both stocks carry a Zacks Rank #1 (Strong Buy).
ALEXION PHARMA (ALXN): Free Stock Analysis Report
GILEAD SCIENCES (GILD): Free Stock Analysis Report
PROTHENA CP PLC (PRTA): Free Stock Analysis Report
ROCHE HLDG LTD (RHHBY): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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NEOD001 currently enjoys orphan drug designation for the treatment of AL and amyloid A (AA) amyloidosis in the U.S. and for the treatment of AL amyloidosis in the EU. Prothena Corporation ( PRTA ) surged a whopping 27.5% and also touched a 52-week high after the company announced that interim data from a phase I study on its pipeline candidate, NEOD001, will be presented at the XIV International Symposium on Amyloidosis (ISA). The study is evaluating the safety, tolerability, pharmacokinetics and immunogenicity of the candidate in patients suffering from immunoglobulin light chain (AL) amyloidosis and persistent organ dysfunction.
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NEOD001 currently enjoys orphan drug designation for the treatment of AL and amyloid A (AA) amyloidosis in the U.S. and for the treatment of AL amyloidosis in the EU. Some better-ranked stocks in the same sector include Alexion Pharmaceuticals ( ALXN ) and Gilead Sciences Inc. ( GILD ). ALEXION PHARMA (ALXN): Free Stock Analysis Report GILEAD SCIENCES (GILD): Free Stock Analysis Report PROTHENA CP PLC (PRTA): Free Stock Analysis Report ROCHE HLDG LTD (RHHBY): Free Stock Analysis Report To read this article on Zacks.com click here.
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NEOD001 currently enjoys orphan drug designation for the treatment of AL and amyloid A (AA) amyloidosis in the U.S. and for the treatment of AL amyloidosis in the EU. Prothena Corporation ( PRTA ) surged a whopping 27.5% and also touched a 52-week high after the company announced that interim data from a phase I study on its pipeline candidate, NEOD001, will be presented at the XIV International Symposium on Amyloidosis (ISA). ALEXION PHARMA (ALXN): Free Stock Analysis Report GILEAD SCIENCES (GILD): Free Stock Analysis Report PROTHENA CP PLC (PRTA): Free Stock Analysis Report ROCHE HLDG LTD (RHHBY): Free Stock Analysis Report To read this article on Zacks.com click here.
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NEOD001 currently enjoys orphan drug designation for the treatment of AL and amyloid A (AA) amyloidosis in the U.S. and for the treatment of AL amyloidosis in the EU. The company has plans to initiate a phase II/III study on the candidate in the fourth quarter of 2014. ALEXION PHARMA (ALXN): Free Stock Analysis Report GILEAD SCIENCES (GILD): Free Stock Analysis Report PROTHENA CP PLC (PRTA): Free Stock Analysis Report ROCHE HLDG LTD (RHHBY): Free Stock Analysis Report To read this article on Zacks.com click here.
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3426831a-ba9f-4628-9c3e-6f27bf56ca59
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1185.0
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2014-03-20 00:00:00 UTC
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Alcoa's Preferred Stock Yield Pushes Past 4.5%
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AA
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https://www.nasdaq.com/articles/alcoas-preferred-stock-yield-pushes-past-45-2014-03-20
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nan
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nan
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In trading on Thursday, shares of Alcoa, Inc.'s $3.75 Preferred Stock (Symbol: AA.PR) were yielding above the 4.5% mark based on its quarterly dividend (annualized to $3.75), with shares changing hands as low as $82.89 on the day. As of last close, AA.PR was trading at a 16.14% discount to its liquidation preference amount.
The chart below shows the one year performance of AA.PR shares, versus AA:
Below is a dividend history chart for AA.PR, showing historical dividend payments on Alcoa, Inc.'s $3.75 Preferred Stock:
In Thursday trading, Alcoa, Inc.'s $3.75 Preferred Stock (Symbol: AA.PR) is currently up about 2.4% on the day, while the common shares (Symbol: AA) are up about 0.8%.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In trading on Thursday, shares of Alcoa, Inc.'s $3.75 Preferred Stock (Symbol: AA.PR) were yielding above the 4.5% mark based on its quarterly dividend (annualized to $3.75), with shares changing hands as low as $82.89 on the day. As of last close, AA.PR was trading at a 16.14% discount to its liquidation preference amount. The chart below shows the one year performance of AA.PR shares, versus AA: Below is a dividend history chart for AA.PR, showing historical dividend payments on Alcoa, Inc.'s $3.75 Preferred Stock: In Thursday trading, Alcoa, Inc.'s $3.75 Preferred Stock (Symbol: AA.PR) is currently up about 2.4% on the day, while the common shares (Symbol: AA) are up about 0.8%.
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In trading on Thursday, shares of Alcoa, Inc.'s $3.75 Preferred Stock (Symbol: AA.PR) were yielding above the 4.5% mark based on its quarterly dividend (annualized to $3.75), with shares changing hands as low as $82.89 on the day. The chart below shows the one year performance of AA.PR shares, versus AA: Below is a dividend history chart for AA.PR, showing historical dividend payments on Alcoa, Inc.'s $3.75 Preferred Stock: In Thursday trading, Alcoa, Inc.'s $3.75 Preferred Stock (Symbol: AA.PR) is currently up about 2.4% on the day, while the common shares (Symbol: AA) are up about 0.8%. As of last close, AA.PR was trading at a 16.14% discount to its liquidation preference amount.
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The chart below shows the one year performance of AA.PR shares, versus AA: Below is a dividend history chart for AA.PR, showing historical dividend payments on Alcoa, Inc.'s $3.75 Preferred Stock: In Thursday trading, Alcoa, Inc.'s $3.75 Preferred Stock (Symbol: AA.PR) is currently up about 2.4% on the day, while the common shares (Symbol: AA) are up about 0.8%. 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 Thursday, shares of Alcoa, Inc.'s $3.75 Preferred Stock (Symbol: AA.PR) were yielding above the 4.5% mark based on its quarterly dividend (annualized to $3.75), with shares changing hands as low as $82.89 on the day.
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In trading on Thursday, shares of Alcoa, Inc.'s $3.75 Preferred Stock (Symbol: AA.PR) were yielding above the 4.5% mark based on its quarterly dividend (annualized to $3.75), with shares changing hands as low as $82.89 on the day. As of last close, AA.PR was trading at a 16.14% discount to its liquidation preference amount. The chart below shows the one year performance of AA.PR shares, versus AA: Below is a dividend history chart for AA.PR, showing historical dividend payments on Alcoa, Inc.'s $3.75 Preferred Stock: In Thursday trading, Alcoa, Inc.'s $3.75 Preferred Stock (Symbol: AA.PR) is currently up about 2.4% on the day, while the common shares (Symbol: AA) are up about 0.8%.
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935a3377-a508-4263-9cc3-f646eb295d58
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1186.0
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2014-03-18 00:00:00 UTC
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Alcoa Expands Wheel Plant in Hungary - Analyst Blog
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AA
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https://www.nasdaq.com/articles/alcoa-expands-wheel-plant-in-hungary-analyst-blog-2014-03-18
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nan
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nan
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Aluminum giant Alcoa Inc. ( AA ) announced that it is investing $13 million in Szekesfehervar, Hungary, to expand its plant to meet increasing European demand for truck wheels, which are more durable and lightweight than earlier models with minimum maintenance.
With the expansion of the plant, Alcoa will be able to produce twice as many Dura-Bright EVO surface-treated wheels in Europe by early 2015. The Dura-Bright EVO has all the benefits which were present in its predecessor, the Dura-Bright wheel with XBR technology.
The Dura-Bright EVO surface-treated wheel is 10 times more resistant to corrosion primarily caused by road salts and weather elements and is also about three times more resistant to chemicals, including hydrofluoric acid, found in the toughest truck cleaning agents. Dura-bright treated wheel helps in retaining the shine even after use for many years without the need for polishing.
Alcoa commenced the construction on the product line expansion in Jan 2014 and expects it to complete in early 2015. The expansion will create 35 new permanent jobs and around 215 temporary jobs during construction. In addition to Alcoa's $13 million investment, the Hungarian government will also contribute $4.4 million toward the construction through its Regional Operative Program.
The expansion will increase Alcoa's presence in Hungary and add to its portfolio which produces value added products for the automotive and aerospace industries.
Alcoa, a prominent player in the mining industry along with Aluminum Corporation of China Ltd. ( ACH ), Atlatsa Resources Corp. ( ATL ) and BHP Billiton Ltd. ( BHP ), is a world leader in production and management of primary aluminum, fabricated aluminum, and alumina.
Alcoa currently retains a Zacks Rank #2 (Buy).
ALCOA INC (AA): Free Stock Analysis Report
ATLATSA RESRCS (ATL): Free Stock Analysis Report
BHP BILLITN LTD (BHP): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Aluminum giant Alcoa Inc. ( AA ) announced that it is investing $13 million in Szekesfehervar, Hungary, to expand its plant to meet increasing European demand for truck wheels, which are more durable and lightweight than earlier models with minimum maintenance. ALCOA INC (AA): Free Stock Analysis Report ATLATSA RESRCS (ATL): Free Stock Analysis Report BHP BILLITN LTD (BHP): Free Stock Analysis Report To read this article on Zacks.com click here. With the expansion of the plant, Alcoa will be able to produce twice as many Dura-Bright EVO surface-treated wheels in Europe by early 2015.
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ALCOA INC (AA): Free Stock Analysis Report ATLATSA RESRCS (ATL): Free Stock Analysis Report BHP BILLITN LTD (BHP): Free Stock Analysis Report To read this article on Zacks.com click here. Aluminum giant Alcoa Inc. ( AA ) announced that it is investing $13 million in Szekesfehervar, Hungary, to expand its plant to meet increasing European demand for truck wheels, which are more durable and lightweight than earlier models with minimum maintenance. The Dura-Bright EVO surface-treated wheel is 10 times more resistant to corrosion primarily caused by road salts and weather elements and is also about three times more resistant to chemicals, including hydrofluoric acid, found in the toughest truck cleaning agents.
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Aluminum giant Alcoa Inc. ( AA ) announced that it is investing $13 million in Szekesfehervar, Hungary, to expand its plant to meet increasing European demand for truck wheels, which are more durable and lightweight than earlier models with minimum maintenance. ALCOA INC (AA): Free Stock Analysis Report ATLATSA RESRCS (ATL): Free Stock Analysis Report BHP BILLITN LTD (BHP): Free Stock Analysis Report To read this article on Zacks.com click here. Alcoa, a prominent player in the mining industry along with Aluminum Corporation of China Ltd. ( ACH ), Atlatsa Resources Corp. ( ATL ) and BHP Billiton Ltd. ( BHP ), is a world leader in production and management of primary aluminum, fabricated aluminum, and alumina.
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Aluminum giant Alcoa Inc. ( AA ) announced that it is investing $13 million in Szekesfehervar, Hungary, to expand its plant to meet increasing European demand for truck wheels, which are more durable and lightweight than earlier models with minimum maintenance. ALCOA INC (AA): Free Stock Analysis Report ATLATSA RESRCS (ATL): Free Stock Analysis Report BHP BILLITN LTD (BHP): Free Stock Analysis Report To read this article on Zacks.com click here. With the expansion of the plant, Alcoa will be able to produce twice as many Dura-Bright EVO surface-treated wheels in Europe by early 2015.
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824bff34-585e-4c2d-88ed-7c537d4d7e63
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1187.0
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2014-03-17 00:00:00 UTC
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Q4 Earnings Season By the Numbers
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AA
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https://www.nasdaq.com/articles/q4-earnings-season-numbers-2014-03-17
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nan
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nan
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Entering the new year, there were rumblings on Wall Street that the holiday shopping season wasn't as fruitful as expected. Investors held their collective breath as fourth-quarter earnings results were released.
Though not spectacular, Q4 earnings were just fine. Seventy-one percent of S&P 500 companies beat the mean analyst earnings estimates, in line with the 71% beat rate from the previous four quarters. Collectively, S&P companies' earnings improved 9.2% from the fourth quarter of 2012 - the fastest quarterly growth rate in the past year.
Better yet, earnings growth is expected to accelerate in the coming year. Early projections call for 11.2% profit growth among S&P 500 companies over the next four quarters. Record earnings per share are expected during that time.
Not everyone enjoyed Q4 earnings season, however. Some sectors struggled.
Energy companies fared the worst. Energy was the only sector to report negative earnings growth, with profits actually declining 10% from the fourth quarter of 2012. More of the same is expected this quarter, with Q1 energy profits forecast to come in 7.8% lower than last year's.
Utilities (+0.7%) and information technology (+1.7%) were also sluggish.
Fortunately, financials and materials picked up the slack. Both of those sectors posted Q4 earnings growth of 24.6% - 5% ahead of any other sector. Only telecommunications companies (+19.7%) came close (see chart of all 10 sectors below).
The continued improvement in corporate earnings paints the picture of a recovering U.S. economy. But stocks are rising faster than earnings.
The S&P 500 is currently trading at 15.2 times 2014 earnings, well ahead of the five-year average forward P/E of 13.2 and the 10-year average of 13.8. That said, the current valuation is well shy of the 15-year average P/E of 16. In other words, stocks aren't nearly as overvalued as they were around the turn of the century during the dot-com boom.
Despite the strong earnings growth, stocks have actually been relatively stagnant since Q4 earnings season began. The S&P is up just 0.75% since Alcoa ( AA ) unofficially kicked things off on Jan. 9. But after a rough January , stocks have recovered nicely, rising 4% since Feb. 3.
As in the fourth quarter, Q1 earnings estimates are relatively low. Corporate earnings are expected to improve just 0.3% in the first three months of 2014. Many companies - especially in the retail sector -have been hit hard by the abnormally harsh weather this winter, as consumers stayed home rather than brave the cold.
Next quarter is when earnings are expected to pick up again. However, as we saw in Q4, low expectations can sometimes be a good thing. Not much is expected from U.S. companies in the first quarter. But that was the case last quarter too … and everything turned out just fine.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The S&P is up just 0.75% since Alcoa ( AA ) unofficially kicked things off on Jan. 9. Entering the new year, there were rumblings on Wall Street that the holiday shopping season wasn't as fruitful as expected. Many companies - especially in the retail sector -have been hit hard by the abnormally harsh weather this winter, as consumers stayed home rather than brave the cold.
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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 S&P is up just 0.75% since Alcoa ( AA ) unofficially kicked things off on Jan. 9. Collectively, S&P companies' earnings improved 9.2% from the fourth quarter of 2012 - the fastest quarterly growth rate in the past year.
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The S&P is up just 0.75% since Alcoa ( AA ) unofficially kicked things off on Jan. 9. Collectively, S&P companies' earnings improved 9.2% from the fourth quarter of 2012 - the fastest quarterly growth rate in the past year. Despite the strong earnings growth, stocks have actually been relatively stagnant since Q4 earnings season began.
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The S&P is up just 0.75% since Alcoa ( AA ) unofficially kicked things off on Jan. 9. Collectively, S&P companies' earnings improved 9.2% from the fourth quarter of 2012 - the fastest quarterly growth rate in the past year. Next quarter is when earnings are expected to pick up again.
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fbd02d48-1bc4-4d8f-91d9-8dafd49a5e61
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1188.0
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2014-03-14 00:00:00 UTC
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#PreMarket Primer: Friday, March 14: Ukraine Prepares For Armed Combat
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AA
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https://www.nasdaq.com/articles/premarket-primer-friday-march-14-ukraine-prepares-armed-combat-2014-03-14
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nan
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nan
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With tensions between the West and Russia at an all time high after Russian forces seized Ukraine's Crimean peninsula, Ukraine's interim government has asked the US for military aid.
The request included arms, ammunition and intelligence, but US President Barack Obama has been firm in his decision not to get involved militarily. Instead, the administration has agreed only to send military rations.
On Thursday, Russia sent troops to perform military exercises near the border of Ukraine as well as dispatching six fighter jets and three transport planes to Belarus to patrol the area. The move intensified the already tense situation and will likely push the US and Europe to enact economic sanctions in an effort to stop Moscow.
Top News
In other news around the markets:
On Thursday, General Electric announced that it is planning to sell a part of its credit card unit. The company will hold an IPO for the new company, set to be called Synchrony Financial. Some analysts have estimated the company's value at up to $20 billion, but GE has given no indication of its exact value. The search effort for a Malaysia Airlines jet destined for Beijing shifted hundreds of miles west after it was discovered that the plane had been transmitting its location to satellites for nearly five hours after it disappeared from radar. Experts say the final transmission was sent over water at a normal cruising altitude and that it is unclear why the transmissions stopped. Things got worse for General Motors on Thursday night after a safety watchdog group released a study showing that 303 deaths were linked to airbag deployment failures in 1.6 million GM cars which were recalled last month. As the probe into the company's handling of the defect continues, GM is facing more and more pressure to compensate victims. Amazon is planning a 25 percent price increase for Prime members set to come into effect as early as next week. The company will take membership prices from $79 per month to $99 per month to offset fuel and shipping cost increases. The decision is unlikely to drive away current prime users, but may deter new customers from joining.
Asian Markets
Asian markets ended the week on a low note with poor Chinese data weighing on shares. The Japanese NIKKEI lost 3.30 percent, China's Shanghai composite was down 0.73 percent, the Shenzhen composite lost 0.55 percent, and the Hang Seng index was down 1.00 percent.
European Markets
Europe's markets were also lower; the UK's FTSE lost 0.13 percent and the eurozone's STOXX 600 was down 0.47 percent. The German DAX fell 0.29 percent and France's CAC 40 lost 0.43 percent.
Commodities
Energy futures were quiet on Friday; Brent futures were up 0.02 percent and WTI futures gained 0.08 percent. Gold gained modestly, up 0.07 percent, but silver gained 0.50 percent. Industrial metals were lower with the exception of copper, which gained 0.92 percent. Aluminum lost 1.28 percent, zinc was down 0.25 percent and tin fell 0.11 percent.
Currencies
The euro continued its climb and traded at $1.3892 and the pound fell modestly against the dollar, down 0.05 percent. The dollar lost 0.22 percent against the yen and 0.02 percent against the Australian dollar.
Earnings
Notable earnings released on Thursday included:
Dollar General Corporation (NYSE: DG ) reported fourth quarter EPS of $1.01 on revenue of $4.49 billion, compared to last year's EPS of $0.97 on revenue of $4.21 billion. Aeropostale Inc (NYSE: ARO ) reported a fourth quarter loss of $0.35 on revenue of $670.00 million, compared to last year's EPS of $0.24 on revenue of $797.71 million. Christopher & Banks Corporation (NYSE: CBK ) reported a fourth quarter loss of $0.01, compared to last year's loss of $0.11 on revenue of $115.98 million.
Pre-Market Movers
Stocks moving in the Premarket included:
Quanta Services Inc (NYSE: PWR ) lost 12.11 percent in premarket trade after falling 3.40 percent over the past week. United States Steel Corp (NYSE: X ) fell 2.42 percent in premarket trade after losing 1.85 percent on Thursday. JPMorgan Chase and Co (NYSE: JPM ) was down 0.56 percent in premarket trade after falling 3.33 percent over the past week. General Motors Co (NYSE: GM ) fell 0.53 percent in premarket trade after losing 10.35 percent over the past five days. Alcoa Inc. (NYSE: AA ) gained 0.34 percent in premarket trade after losing 2.55 percent on Thursday.
Notable earnings releases expected on Friday include:
Brown Shoe Company (NYSE: BWS ) is expected to report fourth quarter EPS of $0.10 on revenue of $620.35 million, compared to last year's EPS of $0.14 on revenue of $640.18 million. ANN INC (NYSE: ANN ) is expected to report fourth quarter EPS of $0.07 on revenue of $623.88 million, compared to last year's EPS of $0.05 on revenue of $607.68 million. Buckle, Inc (NYSE: BKE ) is expected to report fourth quarter EPS of $1.20 on revenue of $349.93 million, compared to last year's EPS of $1.28 on revenue of $360.62 million.
Economics
Friday'seconomic calendarwill include German CPI, Spanish trade balance, British trade balance, US PPI, and US consumer sentiment data.
For a recap of Thursday's market action, click .
Tune into Benzinga's pre-market info show with Dennis Dick and Joel Elconin here .
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Free Trading Education - Check out the free events taking place on Marketfy this week. Spaces are limited. Sign up today.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Alcoa Inc. (NYSE: AA ) gained 0.34 percent in premarket trade after losing 2.55 percent on Thursday. On Thursday, Russia sent troops to perform military exercises near the border of Ukraine as well as dispatching six fighter jets and three transport planes to Belarus to patrol the area. The search effort for a Malaysia Airlines jet destined for Beijing shifted hundreds of miles west after it was discovered that the plane had been transmitting its location to satellites for nearly five hours after it disappeared from radar.
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Alcoa Inc. (NYSE: AA ) gained 0.34 percent in premarket trade after losing 2.55 percent on Thursday. Earnings Notable earnings released on Thursday included: Dollar General Corporation (NYSE: DG ) reported fourth quarter EPS of $1.01 on revenue of $4.49 billion, compared to last year's EPS of $0.97 on revenue of $4.21 billion. Notable earnings releases expected on Friday include: Brown Shoe Company (NYSE: BWS ) is expected to report fourth quarter EPS of $0.10 on revenue of $620.35 million, compared to last year's EPS of $0.14 on revenue of $640.18 million.
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Alcoa Inc. (NYSE: AA ) gained 0.34 percent in premarket trade after losing 2.55 percent on Thursday. The Japanese NIKKEI lost 3.30 percent, China's Shanghai composite was down 0.73 percent, the Shenzhen composite lost 0.55 percent, and the Hang Seng index was down 1.00 percent. Pre-Market Movers Stocks moving in the Premarket included: Quanta Services Inc (NYSE: PWR ) lost 12.11 percent in premarket trade after falling 3.40 percent over the past week.
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Alcoa Inc. (NYSE: AA ) gained 0.34 percent in premarket trade after losing 2.55 percent on Thursday. Aluminum lost 1.28 percent, zinc was down 0.25 percent and tin fell 0.11 percent. Earnings Notable earnings released on Thursday included: Dollar General Corporation (NYSE: DG ) reported fourth quarter EPS of $1.01 on revenue of $4.49 billion, compared to last year's EPS of $0.97 on revenue of $4.21 billion.
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6931904c-74d0-4b00-aee6-562568ae1901
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1189.0
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2014-03-13 00:00:00 UTC
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Notable ETF Outflow Detected - XME, ANV, RGLD, AA
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AA
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https://www.nasdaq.com/articles/notable-etf-outflow-detected-xme-anv-rgld-aa-2014-03-13
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nan
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nan
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Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel , one standout is the SPDR S&P Metals and Mining ETF (Symbol: XME) where we have detected an approximate $20.9 million dollar outflow -- that's a 3.3% decrease week over week (from 15,250,230 to 14,750,230). Among the largest underlying components of XME, in trading today Allied Nevada Gold Corp (Symbol: ANV) is up about 1%, Royal Gold, Inc. (Symbol: RGLD) is up about 0.2%, and Alcoa, Inc. (Symbol: AA) is lower by about 0.8%. The chart below shows the one year price performance of XME, versus its 200 day moving average:
Looking at the chart above, XME's low point in its 52 week range is $31.83 per share, with $43.02 as the 52 week high point - that compares with a last trade of $41.74. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average » .
Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
Click here to find out which 9 other ETFs experienced notable outflows »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Among the largest underlying components of XME, in trading today Allied Nevada Gold Corp (Symbol: ANV) is up about 1%, Royal Gold, Inc. (Symbol: RGLD) is up about 0.2%, and Alcoa, Inc. (Symbol: AA) is lower by about 0.8%. The chart below shows the one year price performance of XME, versus its 200 day moving average: Looking at the chart above, XME's low point in its 52 week range is $31.83 per share, with $43.02 as the 52 week high point - that compares with a last trade of $41.74. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand.
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Among the largest underlying components of XME, in trading today Allied Nevada Gold Corp (Symbol: ANV) is up about 1%, Royal Gold, Inc. (Symbol: RGLD) is up about 0.2%, and Alcoa, Inc. (Symbol: AA) is lower by about 0.8%. The chart below shows the one year price performance of XME, versus its 200 day moving average: Looking at the chart above, XME's low point in its 52 week range is $31.83 per share, with $43.02 as the 52 week high point - that compares with a last trade of $41.74. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed).
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Among the largest underlying components of XME, in trading today Allied Nevada Gold Corp (Symbol: ANV) is up about 1%, Royal Gold, Inc. (Symbol: RGLD) is up about 0.2%, and Alcoa, Inc. (Symbol: AA) is lower by about 0.8%. Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel , one standout is the SPDR S&P Metals and Mining ETF (Symbol: XME) where we have detected an approximate $20.9 million dollar outflow -- that's a 3.3% decrease week over week (from 15,250,230 to 14,750,230). The chart below shows the one year price performance of XME, versus its 200 day moving average: Looking at the chart above, XME's low point in its 52 week range is $31.83 per share, with $43.02 as the 52 week high point - that compares with a last trade of $41.74.
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Among the largest underlying components of XME, in trading today Allied Nevada Gold Corp (Symbol: ANV) is up about 1%, Royal Gold, Inc. (Symbol: RGLD) is up about 0.2%, and Alcoa, Inc. (Symbol: AA) is lower by about 0.8%. Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel , one standout is the SPDR S&P Metals and Mining ETF (Symbol: XME) where we have detected an approximate $20.9 million dollar outflow -- that's a 3.3% decrease week over week (from 15,250,230 to 14,750,230). Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''.
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41e8772a-6557-4e75-ba6c-f5bf81a0b974
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1190.0
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2014-03-12 00:00:00 UTC
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After Hours Most Active for Mar 12, 2014 : CX, ERIC, CSCO, LB, AA, BPO, TMO, QQQ, AIG, MSFT, RFMD, XIV
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AA
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https://www.nasdaq.com/articles/after-hours-most-active-mar-12-2014-cx-eric-csco-lb-aa-bpo-tmo-qqq-aig-msft-rfmd-xiv-2014
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nan
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nan
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The NASDAQ 100 After Hours Indicator is down -1.17 to 3,705.89. The total After hours volume is currently 30,697,036 shares traded.
The following are the most active stocks for the after hours session :
Cemex S.A.B. de C.V. ( CX ) is unchanged at $12.52, with 2,422,700 shares traded. As reported by Zacks, the current mean recommendation for CX is in the "buy range".
Ericsson ( ERIC ) is unchanged at $12.88, with 2,301,202 shares traded. ERIC's current last sale is 94.36% of the target price of $13.65.
Cisco Systems, Inc. ( CSCO ) is +0.0001 at $21.81, with 1,752,945 shares traded. Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Jan 2015. The consensus EPS forecast is $0.47. As reported by Zacks, the current mean recommendation for CSCO is in the "buy range".
L Brands, Inc. ( LB ) is unchanged at $57.07, with 1,621,755 shares traded. Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Jan 2015. The consensus EPS forecast is $1.8. LB's current last sale is 92.05% of the target price of $62.
Alcoa Inc. ( AA ) is unchanged at $12.17, with 1,588,486 shares traded. AA's current last sale is 135.22% of the target price of $9.
Brookfield Office Properties Inc. ( BPO ) is unchanged at $19.31, with 1,580,700 shares traded. BPO's current last sale is 97.77% of the target price of $19.75.
Thermo Fisher Scientific Inc ( TMO ) is unchanged at $126.49, with 1,562,689 shares traded. TMO's current last sale is 96.93% of the target price of $130.5.
PowerShares QQQ Trust, Series 1 ( QQQ ) is +0.08 at $90.64, with 1,280,145 shares traded. This represents a 35.53% increase from its 52 Week Low.
American International Group, Inc. ( AIG ) is -0.01 at $49.92, with 1,118,810 shares traded. Over the last four weeks they have had 4 up revisions for the earnings forecast, for the fiscal quarter ending Mar 2014. The consensus EPS forecast is $1.04. AIG's current last sale is 89.14% of the target price of $56.
Microsoft Corporation ( MSFT ) is -0.05 at $38.21, with 566,315 shares traded. MSFT's current last sale is 95.53% of the target price of $40.
RF Micro Devices, Inc. ( RFMD ) is unchanged at $7.31, with 551,967 shares traded. As reported by Zacks, the current mean recommendation for RFMD is in the "buy range".
Credit Suisse AG ( XIV ) is +0.18 at $30.63, with 476,707 shares traded.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Jan 2015. Alcoa Inc. ( AA ) is unchanged at $12.17, with 1,588,486 shares traded. AA's current last sale is 135.22% of the target price of $9.
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Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Jan 2015. Alcoa Inc. ( AA ) is unchanged at $12.17, with 1,588,486 shares traded. AA's current last sale is 135.22% of the target price of $9.
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Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Jan 2015. Alcoa Inc. ( AA ) is unchanged at $12.17, with 1,588,486 shares traded. AA's current last sale is 135.22% of the target price of $9.
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Alcoa Inc. ( AA ) is unchanged at $12.17, with 1,588,486 shares traded. AA's current last sale is 135.22% of the target price of $9. The NASDAQ 100 After Hours Indicator is down -1.17 to 3,705.89.
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dd36dc16-3baf-43af-948e-3d496e18a460
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1191.0
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2014-03-10 00:00:00 UTC
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Reminder: Alcoa $3.75 Preferred Stock Goes Ex-Dividend Soon
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AA
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https://www.nasdaq.com/articles/reminder-alcoa-375-preferred-stock-goes-ex-dividend-soon-2014-03-10
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nan
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nan
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On 3/12/14, Alcoa, Inc.'s $3.75 Preferred Stock (Symbol: AA.PR) will trade ex-dividend, for its quarterly dividend of $0.9375, payable on 4/1/14. As a percentage of AA.PR's recent share price of $89.50, this dividend works out to approximately 1.05%, so look for shares of AA.PR to trade 1.05% lower - all else being equal - when AA.PR shares open for trading on 3/12/14. On an annualized basis, the current yield is approximately 4.27%. The chart below shows the one year performance of AA.PR shares, versus AA:
Below is a dividend history chart for AA.PR, showing historical dividends prior to the most recent $0.9375 on Alcoa, Inc.'s $3.75 Preferred Stock:
According to the ETF Finder at ETF Channel, Alcoa, Inc. (Symbol: AA) makes up 3.51% of the SPDR S&P Metals and Mining ETF ( XME ) which is trading lower by about 2% on the day Monday.
In Monday trading, Alcoa, Inc.'s $3.75 Preferred Stock (Symbol: AA.PR) is currently up about 1.7% on the day, while the common shares (Symbol: AA) are off about 2.3%.
Click here to learn which 25 S.A.F.E. dividend stocks should be on your radar screen »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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On 3/12/14, Alcoa, Inc.'s $3.75 Preferred Stock (Symbol: AA.PR) will trade ex-dividend, for its quarterly dividend of $0.9375, payable on 4/1/14. The chart below shows the one year performance of AA.PR shares, versus AA: Below is a dividend history chart for AA.PR, showing historical dividends prior to the most recent $0.9375 on Alcoa, Inc.'s $3.75 Preferred Stock: According to the ETF Finder at ETF Channel, Alcoa, Inc. (Symbol: AA) makes up 3.51% of the SPDR S&P Metals and Mining ETF ( XME ) which is trading lower by about 2% on the day Monday. As a percentage of AA.PR's recent share price of $89.50, this dividend works out to approximately 1.05%, so look for shares of AA.PR to trade 1.05% lower - all else being equal - when AA.PR shares open for trading on 3/12/14.
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On 3/12/14, Alcoa, Inc.'s $3.75 Preferred Stock (Symbol: AA.PR) will trade ex-dividend, for its quarterly dividend of $0.9375, payable on 4/1/14. The chart below shows the one year performance of AA.PR shares, versus AA: Below is a dividend history chart for AA.PR, showing historical dividends prior to the most recent $0.9375 on Alcoa, Inc.'s $3.75 Preferred Stock: According to the ETF Finder at ETF Channel, Alcoa, Inc. (Symbol: AA) makes up 3.51% of the SPDR S&P Metals and Mining ETF ( XME ) which is trading lower by about 2% on the day Monday. In Monday trading, Alcoa, Inc.'s $3.75 Preferred Stock (Symbol: AA.PR) is currently up about 1.7% on the day, while the common shares (Symbol: AA) are off about 2.3%.
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As a percentage of AA.PR's recent share price of $89.50, this dividend works out to approximately 1.05%, so look for shares of AA.PR to trade 1.05% lower - all else being equal - when AA.PR shares open for trading on 3/12/14. The chart below shows the one year performance of AA.PR shares, versus AA: Below is a dividend history chart for AA.PR, showing historical dividends prior to the most recent $0.9375 on Alcoa, Inc.'s $3.75 Preferred Stock: According to the ETF Finder at ETF Channel, Alcoa, Inc. (Symbol: AA) makes up 3.51% of the SPDR S&P Metals and Mining ETF ( XME ) which is trading lower by about 2% on the day Monday. On 3/12/14, Alcoa, Inc.'s $3.75 Preferred Stock (Symbol: AA.PR) will trade ex-dividend, for its quarterly dividend of $0.9375, payable on 4/1/14.
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The chart below shows the one year performance of AA.PR shares, versus AA: Below is a dividend history chart for AA.PR, showing historical dividends prior to the most recent $0.9375 on Alcoa, Inc.'s $3.75 Preferred Stock: According to the ETF Finder at ETF Channel, Alcoa, Inc. (Symbol: AA) makes up 3.51% of the SPDR S&P Metals and Mining ETF ( XME ) which is trading lower by about 2% on the day Monday. In Monday trading, Alcoa, Inc.'s $3.75 Preferred Stock (Symbol: AA.PR) is currently up about 1.7% on the day, while the common shares (Symbol: AA) are off about 2.3%. On 3/12/14, Alcoa, Inc.'s $3.75 Preferred Stock (Symbol: AA.PR) will trade ex-dividend, for its quarterly dividend of $0.9375, payable on 4/1/14.
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b8ae426a-b9bb-4a9f-a94a-b6e10d455657
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1192.0
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2014-02-26 00:00:00 UTC
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Alcoa Inks Deal for Quebec Smelters - Analyst Blog
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AA
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https://www.nasdaq.com/articles/alcoa-inks-deal-for-quebec-smelters-analyst-blog-2014-02-26
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nan
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nan
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Aluminum giant Alcoa Inc. ( AA ) and the Government of Quebec have signed an agreement to improve the competitiveness of the former's three smelters in Quebec. Per the deal, Hydro-Quebec will renew Alcoa's power supply contracts for the Becancour and Deschambault facilities till 2030 and for the Baie-Comeau plant through 2036. This will save about 3000 jobs in Quebec.
The deal will allow Alcoa to invest about $250 million at the smelters over the next five years. Alcoa will also increase their aluminum production but reduce production of commodity-grade aluminum at the Baie-Comeau casthouse in order to meet the growing demand of aluminum from automakers for more fuel-efficient vehicles.
As per the automakers, aluminum body sheet content in North American vehicles is expected to increase four-fold by 2015 and ten-fold by 2025, from 2012 levels.
These actions represent Alcoa's strategy of making capital investments, moving down the cost curve and curtailing capacities in its upstream business. The curtailments will improve the competitiveness of the company's Primary Products business.
Smelting aluminum requires large amounts of electricity, so power costs play a big role in determining where aluminum producers choose to build their smelters. Hence, Alcoa will support the government's electric transportation strategy by considering the Baie-Comeau facility as a possible source of aluminum for emerging technology applications, including aluminum-air batteries.
Alcoa also stated that it no longer plans to build a new potline to replace the two it closed at its Baie-Comeau facility last year.
Alcoa, a prominent player in the mining industry along with Aluminum Corporation of China Ltd. ( ACH ), Atlatsa Resources Corp. ( ATL ) and BHP Billiton Ltd. ( BHP ), is a world leader in production and management of primary aluminum, fabricated aluminum, and alumina.
Alcoa currently retains a short-term Zacks Rank #3 (Hold).
ALCOA INC (AA): Free Stock Analysis Report
ATLATSA RESRCS (ATL): Free Stock Analysis Report
BHP BILLITN LTD (BHP): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Aluminum giant Alcoa Inc. ( AA ) and the Government of Quebec have signed an agreement to improve the competitiveness of the former's three smelters in Quebec. ALCOA INC (AA): Free Stock Analysis Report ATLATSA RESRCS (ATL): Free Stock Analysis Report BHP BILLITN LTD (BHP): Free Stock Analysis Report To read this article on Zacks.com click here. As per the automakers, aluminum body sheet content in North American vehicles is expected to increase four-fold by 2015 and ten-fold by 2025, from 2012 levels.
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ALCOA INC (AA): Free Stock Analysis Report ATLATSA RESRCS (ATL): Free Stock Analysis Report BHP BILLITN LTD (BHP): Free Stock Analysis Report To read this article on Zacks.com click here. Aluminum giant Alcoa Inc. ( AA ) and the Government of Quebec have signed an agreement to improve the competitiveness of the former's three smelters in Quebec. 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.
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ALCOA INC (AA): Free Stock Analysis Report ATLATSA RESRCS (ATL): Free Stock Analysis Report BHP BILLITN LTD (BHP): Free Stock Analysis Report To read this article on Zacks.com click here. Aluminum giant Alcoa Inc. ( AA ) and the Government of Quebec have signed an agreement to improve the competitiveness of the former's three smelters in Quebec. Alcoa will also increase their aluminum production but reduce production of commodity-grade aluminum at the Baie-Comeau casthouse in order to meet the growing demand of aluminum from automakers for more fuel-efficient vehicles.
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Aluminum giant Alcoa Inc. ( AA ) and the Government of Quebec have signed an agreement to improve the competitiveness of the former's three smelters in Quebec. ALCOA INC (AA): Free Stock Analysis Report ATLATSA RESRCS (ATL): Free Stock Analysis Report BHP BILLITN LTD (BHP): Free Stock Analysis Report To read this article on Zacks.com click here. The deal will allow Alcoa to invest about $250 million at the smelters over the next five years.
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cad8a26a-1c15-43c2-b736-495c8306e48a
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1193.0
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2014-02-26 00:00:00 UTC
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Wednesday's ETF with Unusual Volume: MXI
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AA
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https://www.nasdaq.com/articles/wednesdays-etf-unusual-volume-mxi-2014-02-26
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nan
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nan
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The iShares Global Materials ETF ( MXI ) is seeing unusually high volume in afternoon trading Wednesday, with over 455,000 shares traded versus three month average volume of about 51,000. Shares of MXI were trading flat on the day.
Components of that ETF with the highest volume on Wednesday were Alcoa ( AA ), trading up about 3.7% with over 17.1 million shares changing hands so far this session, and Newmont Mining ( NEM ), down about 0.8% on volume of over 5.7 million shares. BVN is lagging other components of the iShares Global Materials ETF Wednesday, trading lower by about 2%.
VIDEO: Wednesday's ETF with Unusual Volume: MXI
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Components of that ETF with the highest volume on Wednesday were Alcoa ( AA ), trading up about 3.7% with over 17.1 million shares changing hands so far this session, and Newmont Mining ( NEM ), down about 0.8% on volume of over 5.7 million shares. The iShares Global Materials ETF ( MXI ) is seeing unusually high volume in afternoon trading Wednesday, with over 455,000 shares traded versus three month average volume of about 51,000. BVN is lagging other components of the iShares Global Materials ETF Wednesday, trading lower by about 2%.
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Components of that ETF with the highest volume on Wednesday were Alcoa ( AA ), trading up about 3.7% with over 17.1 million shares changing hands so far this session, and Newmont Mining ( NEM ), down about 0.8% on volume of over 5.7 million shares. The iShares Global Materials ETF ( MXI ) is seeing unusually high volume in afternoon trading Wednesday, with over 455,000 shares traded versus three month average volume of about 51,000. BVN is lagging other components of the iShares Global Materials ETF Wednesday, trading lower by about 2%.
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Components of that ETF with the highest volume on Wednesday were Alcoa ( AA ), trading up about 3.7% with over 17.1 million shares changing hands so far this session, and Newmont Mining ( NEM ), down about 0.8% on volume of over 5.7 million shares. The iShares Global Materials ETF ( MXI ) is seeing unusually high volume in afternoon trading Wednesday, with over 455,000 shares traded versus three month average volume of about 51,000. VIDEO: Wednesday's ETF with Unusual Volume: MXI The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Components of that ETF with the highest volume on Wednesday were Alcoa ( AA ), trading up about 3.7% with over 17.1 million shares changing hands so far this session, and Newmont Mining ( NEM ), down about 0.8% on volume of over 5.7 million shares. The iShares Global Materials ETF ( MXI ) is seeing unusually high volume in afternoon trading Wednesday, with over 455,000 shares traded versus three month average volume of about 51,000. Shares of MXI were trading flat on the day.
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541a0083-cac7-4ffb-a372-91cc85103ae1
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1194.0
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2014-02-25 00:00:00 UTC
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After Hours Most Active for Feb 25, 2014 : WEN, VZ, AA, PBR/A, FSLR, QQQ, SD, LBTYK, BSX, INTC, MSFT, CX
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AA
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https://www.nasdaq.com/articles/after-hours-most-active-feb-25-2014-wen-vz-aa-pbra-fslr-qqq-sd-lbtyk-bsx-intc-msft-cx-2014
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nan
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nan
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The NASDAQ 100 After Hours Indicator is up 4.51 to 3,683.65. The total After hours volume is currently 28,626,691 shares traded.
The following are the most active stocks for the after hours session :
Wendy's Company (The) ( WEN ) is +0.04 at $10.19, with 4,473,560 shares traded.WEN is scheduled to provide an earnings report on 2/27/2014, for the fiscal quarter ending Dec2013. The consensus earnings per share forecast is 0.1 per share, which represents a 8 percent increase over the EPS one Year Ago
Verizon Communications Inc. ( VZ ) is +0.1303 at $46.42, with 3,955,176 shares traded. Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Mar 2014. The consensus EPS forecast is $0.83. As reported by Zacks, the current mean recommendation for VZ is in the "buy range".
Alcoa Inc. ( AA ) is unchanged at $11.62, with 2,477,767 shares traded. AA's current last sale is 129.11% of the target price of $9.
Petroleo Brasileiro S.A.- Petrobras (PBR/A) is +0.0866 at $12.15, with 2,000,000 shares traded. PBR/A's current last sale is 56.5% of the target price of $21.5.
First Solar, Inc. ( FSLR ) is -7.33 at $50.70, with 1,582,384 shares traded. RTT News Reports: First Solar Q4 Profit Declines; Issues Q1 Outlook - Quick Facts
PowerShares QQQ Trust, Series 1 ( QQQ ) is +0.19 at $90.50, with 1,139,961 shares traded. This represents a 37.2% increase from its 52 Week Low.
Sandridge Energy Inc. ( SD ) is unchanged at $6.59, with 718,915 shares traded.SD is scheduled to provide an earnings report on 2/27/2014, for the fiscal quarter ending Dec2013. The consensus earnings per share forecast is 0.01 per share, which represents a 6 percent increase over the EPS one Year Ago
Liberty Global plc ( LBTYK ) is -0.02 at $84.47, with 670,548 shares traded.
Boston Scientific Corporation ( BSX ) is unchanged at $13.39, with 652,415 shares traded. Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Dec 2014. The consensus EPS forecast is $0.22. BSX's current last sale is 95.64% of the target price of $14.
Intel Corporation ( INTC ) is -0.0074 at $24.61, with 617,180 shares traded. INTC's current last sale is 94.66% of the target price of $26.
Microsoft Corporation ( MSFT ) is unchanged at $37.54, with 565,653 shares traded. MSFT's current last sale is 93.85% of the target price of $40.
Cemex S.A.B. de C.V. ( CX ) is +0.0899 at $13.04, with 550,227 shares traded. As reported by Zacks, the current mean recommendation for CX is in the "buy range".
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Alcoa Inc. ( AA ) is unchanged at $11.62, with 2,477,767 shares traded. AA's current last sale is 129.11% of the target price of $9. The following are the most active stocks for the after hours session : Wendy's Company (The) ( WEN ) is +0.04 at $10.19, with 4,473,560 shares traded.WEN is scheduled to provide an earnings report on 2/27/2014, for the fiscal quarter ending Dec2013.
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Alcoa Inc. ( AA ) is unchanged at $11.62, with 2,477,767 shares traded. AA's current last sale is 129.11% of the target price of $9. The consensus earnings per share forecast is 0.1 per share, which represents a 8 percent increase over the EPS one Year Ago Verizon Communications Inc. ( VZ ) is +0.1303 at $46.42, with 3,955,176 shares traded.
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Alcoa Inc. ( AA ) is unchanged at $11.62, with 2,477,767 shares traded. AA's current last sale is 129.11% of the target price of $9. The following are the most active stocks for the after hours session : Wendy's Company (The) ( WEN ) is +0.04 at $10.19, with 4,473,560 shares traded.WEN is scheduled to provide an earnings report on 2/27/2014, for the fiscal quarter ending Dec2013.
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Alcoa Inc. ( AA ) is unchanged at $11.62, with 2,477,767 shares traded. AA's current last sale is 129.11% of the target price of $9. The NASDAQ 100 After Hours Indicator is up 4.51 to 3,683.65.
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e4701501-07b1-4011-ab9e-56aa4de2e032
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1195.0
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2014-02-24 00:00:00 UTC
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Interesting July Stock Options for AA
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AA
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https://www.nasdaq.com/articles/interesting-july-stock-options-aa-2014-02-24
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nan
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nan
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Consistently, one of the more popular stocks people enter into their stock options watchlist at Stock Options Channel is Alcoa, Inc. (Symbol: AA). So this week we highlight one interesting put contract, and one interesting call contract, from the July expiration for AA. The put contract our YieldBoost algorithm identified as particularly interesting, is at the $11 strike, which has a bid at the time of this writing of 60 cents. Collecting that bid as the premium represents a 5.5% return against the $11 commitment, or a 13.7% annualized rate of return (at Stock Options Channel we call this the YieldBoost ).
Selling a put does not give an investor access to AA's upside potential the way owning shares would, because the put seller only ends up owning shares in the scenario where the contract is exercised. So unless Alcoa, Inc. sees its shares decline 6.9% and the contract is exercised (resulting in a cost basis of $10.40 per share before broker commissions, subtracting the 60 cents from $11), the only upside to the put seller is from collecting that premium for the 13.7% annualized rate of return.
Interestingly, that annualized 13.7% figure actually exceeds the 1% annualized dividend paid by Alcoa, Inc. by 12.7%, based on the current share price of $11.80. And yet, if an investor was to buy the stock at the going market price in order to collect the dividend, there is greater downside because the stock would have to lose 6.86% to reach the $11 strike price.
Always important when discussing dividends is the fact that, in general, dividend amounts are not always predictable and tend to follow the ups and downs of profitability at each company. In the case of Alcoa, Inc., looking at the dividend history chart for AA below can help in judging whether the most recent dividend is likely to continue, and in turn whether it is a reasonable expectation to expect a 1% annualized dividend yield.
Top YieldBoost AA Calls »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Selling a put does not give an investor access to AA's upside potential the way owning shares would, because the put seller only ends up owning shares in the scenario where the contract is exercised. Consistently, one of the more popular stocks people enter into their stock options watchlist at Stock Options Channel is Alcoa, Inc. (Symbol: AA). So this week we highlight one interesting put contract, and one interesting call contract, from the July expiration for AA.
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So this week we highlight one interesting put contract, and one interesting call contract, from the July expiration for AA. Top YieldBoost AA Calls » The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Consistently, one of the more popular stocks people enter into their stock options watchlist at Stock Options Channel is Alcoa, Inc. (Symbol: AA).
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Selling a put does not give an investor access to AA's upside potential the way owning shares would, because the put seller only ends up owning shares in the scenario where the contract is exercised. In the case of Alcoa, Inc., looking at the dividend history chart for AA below can help in judging whether the most recent dividend is likely to continue, and in turn whether it is a reasonable expectation to expect a 1% annualized dividend yield. Consistently, one of the more popular stocks people enter into their stock options watchlist at Stock Options Channel is Alcoa, Inc. (Symbol: AA).
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Consistently, one of the more popular stocks people enter into their stock options watchlist at Stock Options Channel is Alcoa, Inc. (Symbol: AA). So this week we highlight one interesting put contract, and one interesting call contract, from the July expiration for AA. Selling a put does not give an investor access to AA's upside potential the way owning shares would, because the put seller only ends up owning shares in the scenario where the contract is exercised.
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6404904d-2c25-4d15-8f36-c8e1498eea56
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1196.0
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2014-02-19 00:00:00 UTC
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Alcoa May Be Poised To Really... Here's Why
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AA
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https://www.nasdaq.com/articles/alcoa-may-be-poised-really-heres-why-2014-02-19
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nan
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nan
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Joel Elconin, Benzinga Staff Writer
After recovering from a substantial decline in January, the S&P 500 Index has returned to all time high territory. While the index did not exactly exude the most bullish predictions from the January effect, Alcoa (AA) shares have.
Alcoa has rallied 11 percent so far in 2013, rallying from its year end of $10.63 to $11.81. Earlier in the year, the issue peaked at $12.31 before pulling back with the broad market. Also, the issue exhibited excellent relative strength during the market’s steep decline earlier this month. Alcoa only came within a point of its low for the year ($9.82), when it bottomed on February 10 ($10.83) as the broad market revisited late October lows.
Alcoa shares, which are quite some distance from its all time high from back in July 2007 ($48.77) and are much closer to March 2009 low ($4.97). More importantly, the issue finally broke out of a two year trading range ($7.63-$11.02) in January and successfully tested the former resistance area recently and responded within a sharp rally.
While the technicals are looking favorable for Alcoa, the fundamentals are looking even better. So much, that the issue has been garnering of the attention of Wall Street’s most respected firms.
Goldman Sachs has been all over the issue since late November. On November 25, the firm upgraded Alcoa from neutral to Buy and raised its price target from $8.00-$11.00. JP Morgan followed suit on January 21, upgrading the issue from Neutral to Overweight and raised their price target from $9.00-$15.00.
Recently, Goldman Sachs joined JP Morgan and bumped its price target to $15.00 as well. Goldman Sachs analyst Sal Tharani, cited the increased demand for aluminum from the Aerospace and Automotive industry was going to be a "game changer" for the steel market.
The firm believes the gradual conversion of automotive exposed body to aluminum (Body-in-White or BiW) will be a huge boon to downstream aluminum use, producing a high growth rate versus other metals for the rest of the decade.
As evidenced by Ford Motor (F) as it unveiled its aluminum F-150 at the Detroit Auto Show, who set a new standard in the industry that several others manufacturers will surely follow. The new F-150 will weigh 700 pounds less than its predecessor and in turn will have 30 percent better fuel economy due to its lighter body.
On Wednesday, General Motors (GM) confirmed this change in trend as it announced it is accelerating efforts to field a largely aluminum-bodied truck pickup truck by 2018. This action was clearly a direct response to Ford and the need to keep up with federal fuel efficiency standards.
As a result, aluminum could very well be the fastest-growing commodity over the next several years. Alcoa expects aluminum auto sheets to grow at a 14 percent CAGR (compounded annual growth rate) from 2012 through 2025. Also, the company expects the market to grow more than 50 percent from 2012 through 2016. By 2025, they expect the average aluminum content per vehicle in North America to increase by 200 pounds to 550 pounds by 2025.
With large commercial aerospace build rates at all time highs and expected to continue, the materials needed produce will increase as well. Also, as the industry shifts toward wide-body aircrafts, more aluminum plate will be needed to accommodate the change in size.
While the aerospace and automotive industry competing for existing aluminum supplies, any other new users of Aluminum will impact the supply and demand and drive prices higher. These factors coupled with continued cost cutting initiatives in its upstreaming businesses by Alcoa puts the company in a good position to capitalize on the changing trend in the metals market.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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While the index did not exactly exude the most bullish predictions from the January effect, Alcoa (AA) shares have. More importantly, the issue finally broke out of a two year trading range ($7.63-$11.02) in January and successfully tested the former resistance area recently and responded within a sharp rally. Goldman Sachs analyst Sal Tharani, cited the increased demand for aluminum from the Aerospace and Automotive industry was going to be a "game changer" for the steel market.
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While the index did not exactly exude the most bullish predictions from the January effect, Alcoa (AA) shares have. On November 25, the firm upgraded Alcoa from neutral to Buy and raised its price target from $8.00-$11.00. JP Morgan followed suit on January 21, upgrading the issue from Neutral to Overweight and raised their price target from $9.00-$15.00.
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While the index did not exactly exude the most bullish predictions from the January effect, Alcoa (AA) shares have. Goldman Sachs analyst Sal Tharani, cited the increased demand for aluminum from the Aerospace and Automotive industry was going to be a "game changer" for the steel market. The firm believes the gradual conversion of automotive exposed body to aluminum (Body-in-White or BiW) will be a huge boon to downstream aluminum use, producing a high growth rate versus other metals for the rest of the decade.
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While the index did not exactly exude the most bullish predictions from the January effect, Alcoa (AA) shares have. Alcoa shares, which are quite some distance from its all time high from back in July 2007 ($48.77) and are much closer to March 2009 low ($4.97). Goldman Sachs analyst Sal Tharani, cited the increased demand for aluminum from the Aerospace and Automotive industry was going to be a "game changer" for the steel market.
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27ec1273-8699-47f8-a24f-ed43d9bc4565
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1197.0
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2014-02-18 00:00:00 UTC
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Alcoa Closing Point Henry Smelter & Mills in Australia - Analyst Blog
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AA
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https://www.nasdaq.com/articles/alcoa-closing-point-henry-smelter-mills-in-australia-analyst-blog-2014-02-18
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nan
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nan
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Alcoa Inc. ( AA ) announced that it will permanently shut down its Point Henry aluminum smelter and two rolling mills in Australia by the end of 2014.
Alcoa had put the Point Henry smelter under strategic review since 2012 due to the challenging market conditions and found that the smelter had no prospect of becoming financially viable. The smelter, which employed about 500 people, will close in Aug 2014. Once the Point Henry closure is complete, Alcoa will have a total smelting operating capacity of around 3,760,000 metric tons, with roughly 655,000 metric tons, or 17% of high cost capacity offline.
The two rolling mills, which cater to the domestic and Asian can sheet markets, have been impacted by excess capacity. The mills, employing about 480 people, are expected to close by the end of 2014.
Alcoa will incur restructuring charges in 2014 related to the closures. These charges are expected to be in the range of $250 million-$270 million after-tax and non-controlling interest, or 22 cents to 25 cents per share, of which roughly 60% would be recorded in the first quarter.
Alcoa's global smelting capacity will be reduced by 190,000 metric tons following the closures and the company's can sheet capacity will also decrease by 200,000 metric tons. Including the closure of the Point Henry smelter, Alcoa has announced closures or curtailments of about 551,000 metric tons of smelting capacity, exceeding the 460,000 metric tons placed under review in May 2013.
Alcoa also announced that it will seek a buyer for the Anglesea coal mine and power station, which currently provide 40% of the power needs for the Point Henry smelter. The company announced that its Portland smelter in Victoria will continue to operate, along with its Australian bauxite mining and Western Australia state alumina refining operations.
Alcoa is making capital investments and remains on track to move down the cost curve and curtail capacities in its upstream business. The curtailments will improve the competitiveness of the company's Primary Products business.
Alcoa, a prominent player in the mining industry along with Aluminum Corporation of China Ltd. ( ACH ), Atlatsa Resources Corp. ( ATL ) and BHP Billiton Ltd. ( BHP ), is a world leader in production and management of primary aluminum, fabricated aluminum, and alumina.
Alcoa currently retains a short-term Zacks Rank #3 (Hold).
ALCOA INC (AA): Free Stock Analysis Report
ATLATSA RESRCS (ATL): Free Stock Analysis Report
BHP BILLITN LTD (BHP): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Alcoa Inc. ( AA ) announced that it will permanently shut down its Point Henry aluminum smelter and two rolling mills in Australia by the end of 2014. ALCOA INC (AA): Free Stock Analysis Report ATLATSA RESRCS (ATL): Free Stock Analysis Report BHP BILLITN LTD (BHP): Free Stock Analysis Report To read this article on Zacks.com click here. The two rolling mills, which cater to the domestic and Asian can sheet markets, have been impacted by excess capacity.
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ALCOA INC (AA): Free Stock Analysis Report ATLATSA RESRCS (ATL): Free Stock Analysis Report BHP BILLITN LTD (BHP): Free Stock Analysis Report To read this article on Zacks.com click here. Alcoa Inc. ( AA ) announced that it will permanently shut down its Point Henry aluminum smelter and two rolling mills in Australia by the end of 2014. Once the Point Henry closure is complete, Alcoa will have a total smelting operating capacity of around 3,760,000 metric tons, with roughly 655,000 metric tons, or 17% of high cost capacity offline.
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Alcoa Inc. ( AA ) announced that it will permanently shut down its Point Henry aluminum smelter and two rolling mills in Australia by the end of 2014. ALCOA INC (AA): Free Stock Analysis Report ATLATSA RESRCS (ATL): Free Stock Analysis Report BHP BILLITN LTD (BHP): Free Stock Analysis Report To read this article on Zacks.com click here. Once the Point Henry closure is complete, Alcoa will have a total smelting operating capacity of around 3,760,000 metric tons, with roughly 655,000 metric tons, or 17% of high cost capacity offline.
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Alcoa Inc. ( AA ) announced that it will permanently shut down its Point Henry aluminum smelter and two rolling mills in Australia by the end of 2014. ALCOA INC (AA): Free Stock Analysis Report ATLATSA RESRCS (ATL): Free Stock Analysis Report BHP BILLITN LTD (BHP): Free Stock Analysis Report To read this article on Zacks.com click here. Once the Point Henry closure is complete, Alcoa will have a total smelting operating capacity of around 3,760,000 metric tons, with roughly 655,000 metric tons, or 17% of high cost capacity offline.
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3d44b404-dc12-48df-b27b-a0616b164a71
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1198.0
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2014-01-30 00:00:00 UTC
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Pre-Market Most Active for Jan 30, 2014 : FB, VOD, ADT, BAC, CTXS, TWTR, QQQ, AA, WFT, BSBR, ERIC, SIRI
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AA
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https://www.nasdaq.com/articles/pre-market-most-active-jan-30-2014-fb-vod-adt-bac-ctxs-twtr-qqq-aa-wft-bsbr-eric-siri-2014
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The NASDAQ 100 Pre-Market Indicator is up 36.02 to 3,503.84. The total Pre-Market volume is currently 13,448,740 shares traded.
The following are the most active stocks for the pre-market session :
Facebook, Inc. ( FB ) is +10.05 at $63.58, with 8,657,900 shares traded. As reported by Zacks, the current mean recommendation for FB is in the "buy range".
Vodafone Group Plc ( VOD ) is -0.08 at $37.23, with 899,870 shares traded. VOD's current last sale is 103.42% of the target price of $36.
ADT Corporation ( ADT ) is -3.3 at $34.51, with 682,408 shares traded. RTT News Reports: ADT Q1 Profit Declines - Quick Facts
Bank of America Corporation ( BAC ) is +0.1 at $16.78, with 606,160 shares traded. Over the last four weeks they have had 8 up revisions for the earnings forecast, for the fiscal quarter ending Mar 2014. The consensus EPS forecast is $0.3. BAC's current last sale is 93.22% of the target price of $18.
Citrix Systems, Inc. ( CTXS ) is -5.11 at $52.49, with 487,743 shares traded. As reported by Zacks, the current mean recommendation for CTXS is in the "buy range".
Twitter, Inc. ( TWTR ) is +4.65 at $64.10, with 424,537 shares traded.TWTR is scheduled to provide an earnings report on 2/5/2014, for the fiscal quarter ending Dec2013. The consensus earnings per share forecast is -0.1 per share, which represents a 99,900 percent increase over the EPS one Year Ago
PowerShares QQQ Trust, Series 1 ( QQQ ) is +0.755 at $85.69, with 421,346 shares traded. This represents a 29.9% increase from its 52 Week Low.
Alcoa Inc. ( AA ) is +0.03 at $12.02, with 353,552 shares traded. Over the last four weeks they have had 4 up revisions for the earnings forecast, for the fiscal quarter ending Mar 2014. The consensus EPS forecast is $0.04. AA's current last sale is 133.56% of the target price of $9.
Weatherford International, Ltd ( WFT ) is -0.45 at $13.37, with 284,655 shares traded. As reported by Zacks, the current mean recommendation for WFT is in the "buy range".
Banco Santander Brasil SA ( BSBR ) is -0.07 at $4.78, with 250,800 shares traded., following a 52-week high recorded in prior regular session.
Ericsson ( ERIC ) is +0.45 at $12.40, with 245,357 shares traded. RTT News Reports: Wall Street Seeking To Put Fed Worries Behind
Sirius XM Holdings Inc. ( SIRI ) is +0.02 at $3.61, with 180,831 shares traded.SIRI is scheduled to provide an earnings report on 2/4/2014, for the fiscal quarter ending Dec2013. The consensus earnings per share forecast is 0.02 per share, which represents a 2 percent increase over the EPS one Year Ago
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Alcoa Inc. ( AA ) is +0.03 at $12.02, with 353,552 shares traded. AA's current last sale is 133.56% of the target price of $9. RTT News Reports: ADT Q1 Profit Declines - Quick Facts Bank of America Corporation ( BAC ) is +0.1 at $16.78, with 606,160 shares traded.
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Alcoa Inc. ( AA ) is +0.03 at $12.02, with 353,552 shares traded. AA's current last sale is 133.56% of the target price of $9. Twitter, Inc. ( TWTR ) is +4.65 at $64.10, with 424,537 shares traded.TWTR is scheduled to provide an earnings report on 2/5/2014, for the fiscal quarter ending Dec2013.
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Alcoa Inc. ( AA ) is +0.03 at $12.02, with 353,552 shares traded. AA's current last sale is 133.56% of the target price of $9. The consensus earnings per share forecast is -0.1 per share, which represents a 99,900 percent increase over the EPS one Year Ago PowerShares QQQ Trust, Series 1 ( QQQ ) is +0.755 at $85.69, with 421,346 shares traded.
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Alcoa Inc. ( AA ) is +0.03 at $12.02, with 353,552 shares traded. AA's current last sale is 133.56% of the target price of $9. The following are the most active stocks for the pre-market session : Facebook, Inc. ( FB ) is +10.05 at $63.58, with 8,657,900 shares traded.
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e8f4c1de-9089-4014-8bb4-662d53e8bc5a
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1199.0
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2014-01-28 00:00:00 UTC
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Apple (AAPL) Extends Underwhelming Earnings Start
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AA
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https://www.nasdaq.com/articles/apple-aapl-extends-underwhelming-earnings-start-2014-01-28
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nan
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nan
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Apple's (Nasdaq: AAPL) disappointing earnings yesterday were the latest in what has become a disturbing trend this earnings season.
While the world's largest company didn't technically fall short of earnings estimates, its iPhone sales underwhelmed. The 51 million iPhones Apple sold over the holidays, while a record, were still 4 million shy of consensus analyst expectations. That was enough to send Apple shares plummeting after hours. The stock opened Tuesday trading down more than 8%, and is threatening to dip below $500 a share for the first time since October.
AAPL isn't the only stock that has suffered after reporting Q4 earnings over the last month.
According to FactSet , only 68% of S&P 500 companies have beaten earnings expectations so far this earnings season. That's below the one-year average of 71% and even further below the four-year average of 73%.
Only about a quarter of the S&P companies have reported earnings thus far, so it's still too early to make any sweeping judgments. But holiday earnings aren't exactly off to a booming start. And right now, it's hurting the stock market.
Since Alcoa ( AA ) reported lackluster earnings on Jan. 9, stocks have fallen more than 3%. That's the biggest drop-off on Wall Street since late September.
Of course, there have been a number of mini pullbacks over the past year, and each time stocks have bounced back and risen higher than ever before. Whether that happens this time may depend on if earnings can improve over the next few weeks.
This week alone could be rather revealing. AAPL was merely the first of several blue-chip stocks set to report Q4 results. Four of the 10 richest U.S. companies by market cap report earnings this week, including the three largest companies.
Here's what's on tap the rest of the week:
Tuesday (after hours)
AT&T ( T )
Yahoo! (Nasdaq: YHOO)
Wednesday
Facebook(Nasdaq: FB)
Thursday
Amazon (Nasdaq: AMZN)
Chipotle ( CMG )
Conoco Phillips ( COP )
Exxon ( XOM )
Google(Nasdaq: GOOG)
United Parcel Service (UPS)
Visa (V)
Friday
Chevron (CVX)
MasterCard (MA)
The One Stock to Own in 2014 - The Year Mobile Takes Over
On Dec. 31, something incredible happened. For the first time in history, the majority of Internet traffic originated from NOT from PCs or desktops - but from mobile devices including smartphones and tablets. We're never going back. Mobile is taking over. And even though the biggest player in mobile, Apple, is selling over 200 million iPhones this year alone… here at Wyatt Research, we're recommending the one company no one is taking about. The one reaping massive profits each time a new Apple or Samsung smartphone is activated. In fact, as mobile data usage explodes in the year ahead, its stock is set to soar! Shares are already on the move. So, before this stock moves any higher, read our latest report for all the details: Click here for the full story .
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Apple's (Nasdaq: AAPL) disappointing earnings yesterday were the latest in what has become a disturbing trend this earnings season. AAPL isn't the only stock that has suffered after reporting Q4 earnings over the last month. Since Alcoa ( AA ) reported lackluster earnings on Jan. 9, stocks have fallen more than 3%.
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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. Apple's (Nasdaq: AAPL) disappointing earnings yesterday were the latest in what has become a disturbing trend this earnings season. AAPL isn't the only stock that has suffered after reporting Q4 earnings over the last month.
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Apple's (Nasdaq: AAPL) disappointing earnings yesterday were the latest in what has become a disturbing trend this earnings season. AAPL isn't the only stock that has suffered after reporting Q4 earnings over the last month. Since Alcoa ( AA ) reported lackluster earnings on Jan. 9, stocks have fallen more than 3%.
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AAPL isn't the only stock that has suffered after reporting Q4 earnings over the last month. Apple's (Nasdaq: AAPL) disappointing earnings yesterday were the latest in what has become a disturbing trend this earnings season. Since Alcoa ( AA ) reported lackluster earnings on Jan. 9, stocks have fallen more than 3%.
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b2d69e09-f6a8-4713-9278-a17cbf1aef41
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