|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||40.03 - 41.55|
|52 Week Range||35.54 - 62.35|
|PE Ratio (TTM)||53.12|
|Earnings Date||Oct 16, 2018 - Oct 22, 2018|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||62.85|
For investors who thought the tariffs imposed by the Trump administration would help U.S. aluminum producers, Alcoa explains why they actually hurt.
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SAN FRANCISCO/WASHINGTON (Reuters) - Big companies in the United States from Amazon.com Inc to Toyota Motor Corp and Alcoa Corp are working to counter the effect of the Trump administration's trade policies and to head off new tariffs. Companies are attempting to avoid any confrontation with U.S. President Donald Trump but want to exert as much influence as they can to dissuade him from tearing up trade agreements or introducing tariffs on a wide swath of imports. Amazon, the world's largest online retailer and cloud-computing company, which could be hurt by tariffs on items sold through its website and components for its data centers, is discussing industry-wide advertising campaigns and more extensive government lobbying, a person familiar with the matter told Reuters on condition of anonymity.
While Donald Trump’s tariffs are still in the early phases, we are already seeing the winners and losers. This week, the shares got crushed because of a dicey earnings report — largely due to the ill-effects of tariffs. On the news, AA stock fell by 13%.
SAN FRANCISCO/WASHINGTON (Reuters) - Big companies in the United States from Amazon.com Inc (AMZN.O) to Toyota Motor Corp and Alcoa Corp (AA.N) are working to counter the effect of the Trump administration's trade policies and to head off new tariffs. Companies are attempting to avoid any confrontation with U.S. President Donald Trump but want to exert as much influence as they can to dissuade him from tearing up trade agreements or introducing tariffs on a wide swath of imports. Amazon, the world's largest online retailer and cloud-computing company, which could be hurt by tariffs on items sold through its website and components for its data centers, is discussing industry-wide advertising campaigns and more extensive government lobbying, a person familiar with the matter told Reuters on condition of anonymity.
President Trump is escalating his trade rhetoric, threatening China and Europe with more tariffs on more goods if they don’t agree to his terms. Mr. Trump says winning these trade wars is “easy,” so let's take a look at the early returns on his steel and aluminum tariffs and the retaliation they’ve inspired. Commerce Secretary Wilbur Ross in March slapped a 10% tariff on aluminum and 25% on steel in the name of helping American metal manufacturers.
During its earnings release, Alcoa (AA) lowered its 2018 adjusted EBITDA (earnings before interest, tax, depreciation, and amortization) guidance to $3.0 billion to $3.2 billion from the previous guidance of $3.5 billion to $3.7 billion. The guidance assumes unpriced aluminum sales at $2,100 per metric ton and API (alumina price index) of $465 per metric ton. Alcoa’s previous guidance was based on assumptions of $2,300 per metric ton aluminum and $500 per metric ton API.
Bruised and battered shareholders have every reason to want to hit the exits. But if they do, they might be transferring significant upside to a private equity buyer.
NEW YORK, NY / ACCESSWIRE / July 20, 2018 / Both Alcoa and Schmitt Industries reported quarterly results this week. While Alcoa dropped on worries of tariff costs and its effects on the company, shares of Schmitt roared on the company's fourth quarter and full year 2018 results. Alcoa Corporation shares closed down 13.34% on nearly 20 million shares traded yesterday.
According to Alcoa, “Higher alumina and aluminum prices, as well as a stronger U.S. dollar, were the primary factors driving this sequential increase. Notably, we saw a sharp rise in alumina and aluminum prices towards the beginning of Q2 2018 after President Trump imposed sanctions on RUSAL, the leading Russian aluminum producer. US Midwest aluminum premiums also rose to multiyear highs after President Trump imposed Section 232 tariffs.
Shares of Alcoa Corp. fell 13% to $41.56 on Thursday after the aluminum maker said the recently enacted U.S. tariffs are hurting its earnings. The Pittsburgh company, which made only about 14% of the aluminum it produced globally last year in the U.S., relies on imports from Canada. Alcoa said Wednesday that it incurred $15 million of costs last month stemming from the newly implemented tariffs on imports from its foreign operations, primarily from Canada.
U.S. aluminum tariffs that were meant to protect the industry from foreign competitors are instead taking a bite out of the earnings of the nation’s largest producer. Alcoa Corp. lowered its 2018 profit ...
Alcoa (AA) reported its second-quarter earnings on July 18. In this article, we’ll see how Alcoa performed on key financial metrics in the quarter. Alcoa reported revenues of $3.6 billion in the quarter as compared to $3.1 billion in Q1 2018 and $2.9 billion in Q2 2017.
Shares of Alcoa plunge after reporting earnings, while Bank of America retests their prior breakout spot. Here are our top stock trades for Friday:Top Stock Trades for Tomorrow #1: AA
The company's shares fell 2 percent in after-market trading, dragging shares of rival Century Aluminum Co down 1 percent. Alcoa now expects adjusted EBITDA to range between $3.0 billion and $3.2 billion, compared to its previous forecast of $3.5 billion to $3.7 billion. U.S. President Donald Trump imposed tariffs of 25 percent on imports of steel and 10 percent on aluminum on countries including Canada and Mexico and the European Union that went into effect in June.
Alcoa (AA) released its second-quarter earnings on July 18. Century Aluminum’s (CENX) earnings are scheduled for August 1. Alcoa was down in the after-hours trading session yesterday after its second-quarter earnings release.
Alcoa which was also hit by rising oil and gas prices in the quarter, said it expects a negative monthly impact between $12 million and $14 million as long as the tariffs on imported aluminum are in place. Credit Suisse analyst Curt Woodworth said in a note that it was surprising Alcoa has not filed an exclusion request as it is currently seeing annualized headwinds of $150 million and imports about 600,000 tons of aluminum from Canada. Alcoa, the largest aluminum producer in the United States, has also been hurt by falling prices.
MARKET PULSE Shares of Alcoa Corp. (aa) tumbled 8.3% toward a seven-month low in active morning trade Thursday, enough to pace all the decliners listed on the NYSE, after the aluminum company cuts its outlook, citing the unfavorable impact of aluminum tariffs and increased energy costs.
Jul.19 -- U.S. aluminum tariffs that were meant to protect the industry from foreign competitors are instead taking a bite out of the earnings of the nation’s largest producer. Alcoa Corp. lowered its 2018 profit projection as tariffs on imported aluminum present what Chief Executive Officer Roy Harvey is calling a “significant” headwind. Bloomberg's Joe Deaux talks with Bloomberg's Alix Steel about Alcoa and trade.