AA - Alcoa Corporation
| Previous Close | 21.94 |
| Open | 22.04 |
| Bid | 20.33 x 4000 |
| Ask | 21.37 x 1000 |
| Day's Range | 21.50 - 22.10 |
| 52 Week Range | 16.46 - 45.45 |
| Volume | 5,091,900 |
| Avg. Volume | 3,535,871 |
| Market Cap | 4.027B |
| Beta (3Y Monthly) | 1.64 |
| PE Ratio (TTM) | N/A |
| EPS (TTM) | -3.12 |
| Earnings Date | Oct 16, 2019 |
| Forward Dividend & Yield | N/A (N/A) |
| Ex-Dividend Date | N/A |
| 1y Target Est | 28.67 |
- Business Wire
United Steelworkers at Five Alcoa U.S. Locations Ratify New Labor Agreement
Alcoa Corporation (AA), a global leader in bauxite, alumina and aluminum products, today announced that members of the United Steelworkers (USW) have ratified a new labor agreement, covering approximately 1,700 active employees at five U.S. locations. The Company and the union leadership tentatively agreed on August 30 to the terms of the four-year contract, subject to ratification by the union’s members. The USW announced the outcome of that vote on Thursday, Sept. 19.
- Business Wire
Alcoa Named Aluminum Industry Leader in Annual Dow Jones Sustainability Index
Alcoa Corporation, a global leader in bauxite, alumina, and aluminum products, has been named the Aluminum Industry leader in the 2019 Dow Jones Sustainability Indices (DJSI). Alcoa is listed in the DJSI North America Index, which includes the top 20 percent of the largest 600 North American companies in the S&P Global Broad Market Index. The Dow Jones Sustainability Indices are a recognized source for corporate responsibility and sustainability.
- Benzinga
Credit Suisse Upgrades Alcoa After 'Key Downside Risk Factor' Dissipates
The bullish case for Alcoa Corp (NYSE: AA ) can be made after a "key downside risk factor" has played out while restructuring efforts could soon show benefits, according to Credit Suisse. The ...
- TheStreet.com
Alcoa Shares Rise on Credit Suisse Upgrade to Outperform
Alcoa rises after Credit Suisse upgrades the aluminum products and wrap maker to outperform from neutral.
- Bloomberg
Alcoa Reorganizes as Trump Tariffs Fail to Shield U.S. Producers
(Bloomberg) -- Alcoa Corp. is shrinking its executive team as slowing global growth sent shares of the largest U.S. aluminum producer tumbling by half in the past year despite tariffs aimed at protecting the domestic industry.Chief Executive Officer Roy Harvey will have seven people directly reporting to him when the changes take effect Nov. 1, from 12 currently, the Pittsburgh-based company said Monday in a statement. Alcoa will eliminate its business-unit structure and consolidate sales, procurement and other commercial functions.Alcoa will implement its second reorganization since its split in late 2016 as the company seeks to reduce its overhead after lower aluminum prices shaved its second-quarter earnings. The metal producer cut its outlook for demand in July, citing trade tensions.“In light of commodities under pressure you’re seeing a slew of announcements to cut costs, and that’s what Alcoa is doing,” Timna Tanners, an analyst at Bank of America Corp., said in a telephone interview. “The reason they’re doing this now is because commodity conditions are challenging.”Aluminum prices have plunged 13% in the past year, while premiums paid by buyers in the U.S. Midwest fell 14% even though the Trump administration imposed tariffs in 2018 on imports of the metal and steel.Alcoa shares rose 6.2% at the close in New York, trimming losses in the past year to 50%.Andrew Cosgrove, an analyst at Bloomberg Intelligence, said Alcoa may not be able to cut much more fat from its operations. Alcoa’s general expenses as a percentage of sales were at 1.9% last year, 2.4% in 2017 and 3.9% in 2016, he said in an email. “How much can they trim from that?” he said.Earlier this year, the Organisation for Economic Co-operation and Development said China’s huge subsidies for its aluminum makers continued to fuel excess plant capacity. Like other large aluminum producers, Alcoa has a large global footprint, generating only 44% of its revenue in the U.S.Alcoa is already a vastly different company than it was in 2016, when it split from the jet- and car-parts business in a major reorganization. The company’s structure was further refined in 2017, when Alcoa merged the aluminum smelting, cast and rolled products and most of the energy segment into its aluminum unit to reduce costs and complexity.The resulting units from that reorganization -- aluminum, bauxite and alumina -- will now be under the supervision of the smaller executive group, though the company will continue to report financial results for each of the segments separately. The new model means the presidents of alumina, Michael Parker, and bauxite, Garret Dixon, will leave after helping with the transition.The moves announced Monday will result in restructuring charges, which Alcoa expects to report at the end of the third quarter. The restructuring should be completed by the end of the first quarter of 2020.\--With assistance from Liezel Hill.To contact the reporters on this story: Steven Frank in Toronto at sfrank9@bloomberg.net;Joe Deaux in New York at jdeaux@bloomberg.netTo contact the editors responsible for this story: Luzi Ann Javier at ljavier@bloomberg.net, Joe RichterFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- Schaeffer's Investment Research
2 Commodity Stocks to Short
Both stocks are trading near historically bearish trendlines
- Yahoo Finance
Companies to Watch: Alcoa to restructure, San Francisco may acquire PG&E, Apple may invest in camera tech
Alcoa, PG&E, Apple, British Airways and AT&T are the companies to watch.
- American City Business Journals
Alcoa to restructure leadership, operations model
Alcoa Corp. (NYSE: AA) will shift to a new operating model in November, shaking up leadership at the company. The company plans to eliminate its business unit structure and consolidate sales, procurement and other commercial capabilities. Current Executive Vice President and Chief Financial Officer William Oplinger will continue in his role Current Executive Vice President and President of Aluminum Timothy Reyes will transition to executive vice president and chief commercial officer.
- Benzinga
Alcoa To Consolidate Sales, Procurement And Commercial Operations, Cuts Staff
Alcoa Corporation (NYSE: AA ) announced it will cut staff and eliminate its business unit structure and consolidate sales, procurement and other commercial capabilities at an enterprise level effective ...
- MarketWatch
Alcoa said it's going to be restructuring
Alcoa announced it will be restructuring, with a plan to eliminate its business unit structure and consolidate sales, procurement and other commercial capabilities at an enterprise level. The presidents of the alumina and bauxite will depart, and additional organizational changes to reduce overhead are planned. The company said it is finalizing the related financial impacts and expects to report restructuring charges at the close of the third quarter.
- Business Wire
Alcoa Corporation Announces New Operating Model
Alcoa Corporation (AA), a global leader in bauxite, alumina, and aluminum products, today announced that, effective November 1, 2019, it will implement a new operating model that will result in a leaner, more integrated, operator-centric organization that accelerates the Company’s strategic priorities. Alcoa will eliminate its business unit structure and consolidate sales, procurement and other commercial capabilities at an enterprise level. Under the new operating model, the Alcoa Executive Team will also be streamlined from 12 to seven direct reports to the Chief Executive Officer.
- TheStreet.com
Alcoa Rolls Out Restructuring Plan
Aluminum producer Alcoa announces a restructuring plan that will eliminate at least one of its units, cut its executive team, consolidate sales and reduce costs.
- Reuters
Japan buyer agrees to pay Q4 aluminium premium of $97/T, 10% lower than Q3
A Japanese aluminium buyer has agreed to pay a global producer a premium of $97 per tonne over the benchmark price for shipments in October to December, down 10% from the previous quarter, a source directly involved in the pricing talks said. The figure is lower than the $108 per tonne paid in the July-September quarter and marks a first quarterly drop in three. Another industry source said he heard about the deal, but others have not followed it as most of buyers are seeking lower levels.
- Business Wire
William F. Oplinger, Alcoa’s EVP and CFO, to Participate in Conferences Hosted by Credit Suisse and Morgan Stanley
Alcoa Corporation intends to make future announcements regarding company developments and financial performance through its website, www.alcoa.com. Alcoa is a global industry leader in bauxite, alumina and aluminum products, built on a foundation of strong values and operating excellence dating back more than 130 years to the world-changing discovery that made aluminum an affordable and vital part of modern life.
- Market Realist
Trump Tariffs: Why Alcoa’s Fears Are Coming True
Last year, President Trump slapped a 10% tariff on US aluminum imports. Alcoa didn't support the tariffs in the first place.
- Business Wire
Alcoa and United Steelworkers Reach Tentative Labor Agreement for Five U.S. Locations
Alcoa Corporation, a global leader in bauxite, alumina, and aluminum products, has reached a tentative agreement with the United Steelworkers on a new 4-year labor agreement for approximately 1,700 active employees at five U.S. locations. The union members will now schedule a vote on the proposed contract, the result of extensive negotiations between the Company and the United Steelworkers. The United Steelworkers will now set the date for its members to vote on the proposal, which will cover employees represented by the union at Warrick Operations in Indiana, Massena Operations in New York, Gum Springs in Arkansas, Wenatchee Works in Washington, and Point Comfort in Texas.
- Zacks
Is the Options Market Predicting a Spike in Alcoa Corporation (AA) Stock?
Investors need to pay close attention to Alcoa Corporation (AA) stock based on the movements in the options market lately.
- MarketWatch
Activist threat: Why these five companies could come under attack
Data storage giant Western Digital, private-label food producer TreeHouse Foods, and tire manufacturer Goodyear are vulnerable to an attack from activist investors, according to shareholder-activism intelligence firm Activist Insight.
- Zacks
Timing the Market, Is it Possible? - August 21, 2019
Have you ever dreamed of being that one in a million investor who has the talent to perfectly time the markets?
- MarketWatch
Maximizing shareholder value can no longer be a company’s main purpose: top CEOs
The heads of nearly 200 U.S. companies said Monday they are committing to a move away from the idea that the main purpose of a company is to maximize shareholder value, marking a break with a long-held conviction.
- Market Realist
Alcoa Stock Fell to Record Lows amid Recession Fears
Alcoa stock is trading sideways with a negative bias on Thursday. There has been a bloodbath in the entire metal and mining space.
- Barrons.com
Arconic Looks to Unlock Value in a Potential Split. Alcoa May Get Left Behind.
Alcoa and Arconic were split into two companies three years ago. Now Arconic is worth more—and looks better-positioned—than its former parent.
- American City Business Journals
When Arconic splits, both companies will remain based in Pittsburgh
Analysts wait on the Q3 earnings call for more details to emerge surrounding Arconic Corp. and Howmet Aerospace Inc.
- InvestorPlace
3 Infrastructure Stocks to Ground Your Trading
Do headlines of a slowing global economy or raised trade war threats have your attention? It may be time to look at the price charts of infrastructure stocks U.S. Steel (NYSE:X), Alcoa (NYSE:AA) and Cemex (NYSE:CX) to build long-term profits shorting and buying X stock, AA and shares of CX in your portfolio. Let me explain.Are you mulling why the Federal Reserve cut rates for the first time in over a decade? Or does the latest news of an additional 10% tariff on $300 billion in Chinese goods by the U.S. government have you worried? Well, you're not alone.These macroeconomic and geopolitical environment have Wall Street's undivided attention, while earnings season has quickly been shown the exit. But in order to profit from today's headlines, you have to look at the big picture. And that's where X stock, AA and CX come in.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 8 of the Most Shorted Stocks in the Markets Right Now Along with large-cap tech stocks such as Apple (NASDAQ:AAPL) or an industrial play like Caterpillar (NYSE:CAT), infrastructure stocks are obviously a group worth watching. And within this market area X, AA stock and shares of CX are companies to put on the radar for selling and buying based on what their price charts and not today's headlines are telling us. Infrastructure Stocks: U.S. Steel (X)U.S. Steel is the first of our three infrastructure stocks. The provided weekly chart shows X stock has formed a bearish flag beneath lateral resistance dating back to the financial crisis. Even U.S. Steel's better-than-expected earnings report hasn't been able to put a bid in this one!That's not the only bearish evidence in X stock either. Today's pattern is the second time where shares have fallen below support. Coupled with a failed uptrend attempt in 2018, this second attempt at breaking through this critical area looks all the more ominous. The X Stock Trade Short this infrastructure stock now and look for an eventual move towards the 2016 low. To keep losses contained and prevent fighting a bearish trend, I'd recommend a stop-loss slightly above the pattern high. Alcoa (AA)Alcoa is the next of our infrastructure stocks to put on your radar. However, I'm watching AA stock for a purchase. The monthly chart in AA stock does a good job of displaying a large broadening pattern that has developed over the past decade. Shares of Alcoa are near support and that's bullish.The formation isn't perfect, but life rarely is either. More importantly, I see the spirit of this corrective base as being intact. And with a bullishly diverging stochastics setup, a bottom should be closer, rather than farther away. The AA Stock TradeShould a confirmed candlestick low in this infrastructure stock form in the coming weeks, AA stock offers plenty of upside and bang for the buck. * 7 A-Rated Stocks Under $10 Based on the most recent pattern highs and angular resistance, a long in Alcoa could see $65 to $70 over the next 12 to 18 months. Cemex (CX)You'll have to be the judge of whether I left the best infrastructure stock for last. Mexico-based Cemex never quite recovered from last decade's financial crisis. And conditions could get a great deal worse for CX stock.Now, as a victim of slowing global growth and trade wars, CX stock has broken neckline support on its monthly chart. And with shares trading at $3.25 it's hard not to see this bearish pattern as possibly being the final straw for shares of CEMEX. The CX Stock TradeMy recommendation on CX stock is to gain short exposure today. I'd personally suggest a longer-term option such as the January 2021 $3 put. Priced for 55 cents, this bearish contract greatly reduces and limits risk in the event of an adverse pattern failure. And optimistically, if we're right this could be a near five-bagger.Investment accounts under Christopher Tyler's management do not currently own positions in securities mentioned in this article. The information offered is based upon Christopher Tyler's observations and strictly intended for educational purposes only; the use of which is the responsibility of the individual. For additional market insights and related musings, follow Chris on Twitter @Options_CAT and StockTwits. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 8 of the Most Shorted Stocks in the Markets Right Now * 7 Charts That Should Concern Marijuana Stock Investors * 8 Monthly Dividend Stocks to Buy for Consistent Income The post 3 Infrastructure Stocks to Ground Your Trading appeared first on InvestorPlace.
