NEW YORK, NY / ACCESSWIRE / October 23, 2017 / Alcoa shares saw some gains on Friday with slightly higher trading volume than normal. The company reported its third-quarter financial report last week that missed on earnings but beat on revenue. Shares of Pitney Bowes also closed up around 3% on Friday. The company announced it had won a contract with Opus Trust last week.
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Pitney Bowes Inc.
Alcoa Corporation shares closed up 2.99% on Friday with roughly 4.2 million shares traded. The aluminum company released its third-quarter earnings report last Wednesday that missed on earnings but beat on revenue. Alcoa reported net income of $113 million, or 60 cents a share. Adjusted, the company reported earnings of 72 cents a share which dragged 2 cents below the Wall Street expectation of 74 cents. Analysts had been expecting sales of $2.93 billion which Alcoa beat with sales of $3 billion. The company revealed that looking ahead it now expects adjusted EBITDA for the full year to be $2.4 billion. The company's CEO Roy Harvey commented, "Alcoa continues to benefit from favorable commodity markets, and we've raised our projections for profitability in 2017 and global aluminum demand growth for the balance of the year. We continued to execute on our three strategic priorities - our strong cash generation aligns with our priority to strengthen the balance sheet, while our recent Rockdale announcement advances our priorities to reduce complexity and drive returns."
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Pitney Bowes Inc. shares closed up a little over 3% on Friday with about 1.6 million shares traded. The global technology company announced last week that it has won a contract with Leicester-based Opus Trust Marketing, a company that manages high volumes of critical, transactional documents, sending nearly 1,000 communications every minute on behalf of its clients. Shemin Nurmohamed, Vice President of DMT Europe for Pitney Bowes commented, "Opus Trust is a great success story, staying highly relevant in our digital landscape by delivering multichannel communications and demonstrating a client-first approach. Opus Trust continues to make strategic investments to benefit its clients, and we're delighted that Paul and the team have selected Pulse and Epic to join its other technologies from the Pitney Bowes family." Earlier in the month, Pitney announced that it had completed its acquisition of Newgistics, Inc., a Texas-based provider of parcel delivery, returns, fulfillment and digital commerce solutions for retailers and ecommerce brands. The acquisition will help accelerate Pitney Bowes' expansion into the U.S. domestic parcels market at scale.
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