Great analysis of CENX and stock valuation:
WASHINGTON, June 9, 2015 /PRNewswire-USNewswire/ -- Allison Beck, Acting Director of the Federal Mediation and Conciliation Service (FMCS), today announced that with the assistance of Federal mediators, a tentative settlement has been reached between USW Local 9423 and Chicago-based Century Aluminum Co., potentially ending a work stoppage affecting approximately 560 workers at a Century Aluminum facility in Hawesville, KY.
A previous labor contract expired in April 2015 followed by contentious negotiations and a work stoppage in May.
Bargaining under the auspices of FMCS mediators, the union and employer reached a tentative agreement after many hours of intense talks.
Ms. Beck commended FMCS Director of Mediation Services Peter Cheng and FMCS mediator Chris Alford for their roles in bringing both sides together in the bargaining. "Our mediators assisted these parties through a very difficult period, and we are gratified that we were able to help the union and employer overcome their differences in these challenging and complex negotiations," Ms. Beck said. "Ultimately, the hard work by the parties enabled them to reach common ground."
The tentative agreement is subject to ratification. As is Agency practice, the FMCS will not comment on the substance or content of the agreement or negotiation.
The Federal Mediation and Conciliation Service, created in 1947, is an independent U.S. government agency whose mission is to preserve and promote labor-management peace and cooperation. Headquartered in Washington, DC, with 10 district offices and more than 60 field offices, the agency provides mediation and conflict resolution services to industry, government agencies and communities.
Just call my friend who is an employee in CENX and was confirmed a union deal will be announced soon. He couldn't provide much details about the deal but any resolution of the strike will be good news and CENX will shoot up when the deal in announced.
CENX went up almost 5% with no news even though Alcoa is down today. I suspect the union talk is progressing well and a good news will be announced soon.
Last time the JPMorgan guy made a sell recommendation on CENX was Dec17, 2013, with a price target of $6. CENX went up 35% in 3 months, and over 60% in 6 months, after he yelled "sell". He is an excellent contrarian indicator.
Aluminum Gains Second Time in Three Days on China Demand Outlook:
Don't get scared off by JPMorgan analyst's sell recommendation. Last time he made a "sell" recommendation in Dec 17, 2013, CENX went up +35% in 3 months and over +60% in 6 months. He is a good contrarian indicator and when he says "sell" the stock is usually at the bottom.
JP Morgan's Michael Gambardella had a dismal record in predicting stock price. In Dec17, 2013, he made a "sell" recommendation with a Price target to $6 for CENX. Guess what, the stock went up over +35% in 3 months, and over 60% in 6 months. He got his MBA degree in 2012 and still has a lot to learn, IMHO.