|Bid||24.50 x 3100|
|Ask||24.59 x 800|
|Day's Range||24.35 - 25.00|
|52 Week Range||23.88 - 51.20|
|Beta (3Y Monthly)||1.29|
|PE Ratio (TTM)||N/A|
|Earnings Date||Jul 16, 2019 - Jul 22, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||35.92|
Steel maker stocks dropped in midday trade Friday, after The Wall Street Journal reported that U.S. trade negotiators were close to a deal with Canada and Mexico to end tariffs on steel imports. Shares of U.S. Steel Corp. fell 2.7%, Nucor Corp. shed 3.6%, Steel Dynamics Inc. gave up 2.9% and ArcelorMittal slid 3.4%. Meanwhile, the S&P 500 was down just 0.2%. Among aluminum companies, Alcoa Corp.'s stock fell 1.7% and Kaiser Aluminum Corp. declined 1.5%. The WSJ reported, citing sources, that U.S. trade negotiators were trying to reach a deal on tariffs with Canada and Mexico to "push USMCA through Congress."
Alcoa Corporation, a global leader in bauxite, alumina, and aluminum products, has agreed to extend the existing labor contract with the United Steelworkers to reach a new multi-year labor agreement covering approximately 1,700 active employees at five U.S. locations. The Company and the union have agreed to recognize the existing contract, which was set to expire on May 15, 2019, so negotiations can continue. Most of those represented by the United Steelworkers work at Warrick Operations’ aluminum smelter and rolling mill and at the Massena Operations smelter.
Miners Become Bottomless Pit as US-China Trade War Escalates(Continued from Prior Part)Alcoa’s outlookAlcoa (AA) saw negative price action of 2.0% yesterday, and the stock is now down 8.0% for the month. It has lost 7.4% year-to-date while
One of the benefits that people foresaw of President Trump's administration was the return of legacy industries like steel. When the President first started talking tough against China, companies like U.S. Steel Group (NYSE:X) experienced a surge in value. However, the burst in X stock and similar names was short-lived.Source: Shutterstocks Trump launched the first salvo of tariffs on Chinese goods in late January 2018. Initially, the thesis for U.S. Steel stock appeared ironclad. Finally, we had a President willing to stand up to shady Chinese business practices, such as commodities dumping. With an administration that didn't give two cents about political correctness, X stakeholders rejoiced.Unfortunately, economic dynamics, especially in the modern era, do not occur individually in a vacuum. What affects one sector will likely impact another, often with unpredictable results. While Trump won voters in blue-collar, conservative states with his tough talk, his policies didn't work as he previously hoped.InvestorPlace - Stock Market News, Stock Advice & Trading Tips X Stock Meets RealityCertainly, the idea of tariffs and dumping-crackdowns rejuvenated X stock. They also lifted industrial-commodities players like Alcoa (NYSE:AA) and Steel Dynamics (NASDAQ:STLD), which benefited from rising steel prices.That said, those rising prices hurt industrial consumers of steel and aluminum, such as General Motors (NYSE:GM). The double-whammy, of course, was that many of these sectors and companies couldn't afford the sudden hit to margins. For instance, GM and Ford (NYSE:F) already have problems selling cars in America.Passing the costs to consumers who don't already buy American? This just wasn't going to fly. Thus, U.S. Steel stock received a boost from surface-level trading. But once reality set in, the Trump-tariff fundamentals didn't look too hot. * 10 Stocks That Could Squeeze Short Sellers, Including CGC But with X stock down more than 55% since the start of 2017 -- despite last Friday's double-digit swing up -- is it time to go contrarian? The Bull Case for U.S. Steel StockFor those willing to go against the grain, it's not just X stock that has looked interesting recently. From a technical standpoint, Alcoa appears to have hit bottom. So too have Steel Dynamics shares.Naysayers will immediately counter and state that it's unwise to chase a company down. Over the last several years, we've seen many high-profile names that offered contrarian cases, only to disappoint further. What then makes U.S. Steel stock any different?Fundamentally, the underlying firm still represents a viable industry. True, we're moving deeper into the information age. Nowadays, the sexiest companies are those that lead in automation and artificial intelligence. I'm not shocking anyone with that statement.Still, we have robust demand for actualizing those innovations. For instance, the robots that build our cars aren't going to build themselves. More importantly, some of the implications behind the latest tech innovations won't occur until much later down the line.At some point, AI will replace human drivers altogether. But that may not happen in our lifetime. Therefore, automakers are still competing with each other for consumer dollars, invariably lifting X stock.This underappreciated demand for commodities-based products helped buoy sector players from completely imploding. Even during the early stages of geopolitical tensions between the U.S. and China, aluminum demand remained healthy. At some point, you got to like your chances that U.S. Steel stock will make a comeback. Trump Is a WildcardWith all that said, I understand the hesitation toward X stock. Admittedly, the steel and aluminum markets need some help. President Trump, as well-intentioned as he may be, isn't helping.When he made good on his tariff threats, many conservatives lauded his efforts in sticking up for blue-collar Americans. But as the markets and the hard data indicate, those moves didn't pan out so well. Partially due to these pressures, Trump agreed to negotiate with his Chinese counterparts. * 7 Food Stocks to Buy Now Now, the volatile President has seemingly changed his mind. In a stunning about-face, he threatened to renew tariffs on China, shocking just about everybody. I believe this is the reason why U.S. Steel stock failed to build off last Friday's spike rally. Steel companies have seen where "protective" tariffs lead.However, I think we can discount this outburst as another presidential episode. With the 2020 elections coming up, Trump can't afford to actualize "the crazy." He knows as well as anyone that the way to win the American voter is through their wallet.In other words, Trump has every incentive to truly act in the blue-collar worker's best interest. And with that backdrop, you can trust X stock a lot more than other speculative names.As of this writing, Josh Enomoto did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Cloud Stocks to Buy on Overcast Days * 6 Stable Stocks Worth Buying for Protection * 5 Active Vanguard Funds That You Have to Own Compare Brokers The post Why You Can Trust U.S. Steel Stock Amid Other Risky Names appeared first on InvestorPlace.
Alcoa Corporation, a global leader in bauxite, alumina, and aluminum products, announced today that Roy C. Harvey, President and Chief Executive Officer, and William F. Oplinger, Executive Vice President and Chief Financial Officer, will participate in a question and answer session at the Bank of America Merrill Lynch Annual Global Metals, Mining & Steel Conference in Barcelona, Spain, on Tuesday, May 14, 2019. The session will be available through a live audio webcast beginning at approximately 10:30 a.m. EDT (4:30 p.m. CEST) on Tuesday, May 14, on the “Investors” section of Alcoa’s website, www.alcoa.com.
About 200 Alcoa Corp. (NYSE: AA) employees from Quebec who said they have been locked out of their jobs since January 11, 2018 demonstrated outside the aluminum manufacturing giant’s annual shareholders meeting Wednesday morning in downtown Pittsburgh. The group, part of the United Steelworkers union Local 9700, joined together in loud chants for fair contracts and sang songs in unison with the lyrics “We don’t need Alcoa’s greed. Roy Harvey, we just want to talk,” referencing the company’s CEO and president.
What Could Have Prompted Trump’s Sudden Tariff Hike Decision(Continued from Prior Part)MinersDonald Trump has stepped up his trade rhetoric by hiking up the tariff on $200 billion in Chinese goods to 25%. He has also threatened a 25% tariff on
Alcoa Corporation, a global leader in bauxite, alumina, and aluminum products, will host a live audio webcast of its 2019 Annual Meeting of Stockholders to be held Wednesday, May 8, beginning at 10 a.m. EDT. The webcast and presentation materials will be available on the Investors section of Alcoa’s website http://investors.alcoa.com. Alcoa Corporation intends to make future announcements regarding company developments and financial performance through its website at www.alcoa.com.
Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Alcoa of Australia Limited and other ratings that are associated with the same analytical unit. "IMPORTANT NOTICE: MOODY'S RATINGS AND PUBLICATIONS ARE NOT INTENDED FOR USE BY RETAIL INVESTORS. This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future.
A vacant property on the Miami River downtown could be developed for restaurants and a tap room. On May 6, the Miami River Commission will consider the plans for Riverside Miami, which would have seven restaurants, a tap room and event space at 431 to 451 South Miami Ave. Property owner Miami River Holdings LLC, managed by Richard G. Toledo, Nicolas Mattos, and Isabella Mattos, is seeking a temporary use permit for three years, with the option to extend it for another three years. The 2.53-acre site is between the South Miami Avenue bridge and the Fifth Street Metromover Station.
Out of thousands of stocks that are currently traded on the market, it is difficult to identify those that will really generate strong returns. Hedge funds and institutional investors spend millions of dollars on analysts with MBAs and PhDs, who are industry experts and well connected to other industry and media insiders on top of that. Individual investors can piggyback […]
Lower prices pushed the aluminum products maker to a first quarter loss and the results fell short of forecasts. The equipment rental company's first quarter profit and revenue beat forecasts on gains across geographic regions. The shoe company's first quarter sales fell short of forecasts and it issued a weak revenue outlook for the year.
With equities flirting with all-time highs you might be wondering why today's gallery is focusing on stocks to sell. The reason is that it's not just a stock market, but a market of stocks. And there are both winners and losers in every environment -- even one where record highs are in reach.Indeed, the rising tide is not lifting all boats. Some of these vessels have gaping holes in the hull and are sinking. The three stocks identified today carry similar characteristics. Their price trends are all pointing lower. They're on the brink of breaking key support zones. And distribution days have cropped up to signal institutions are smashing the sell button.Whether you're looking for short trades to diversify your portfolio, or simply want to feel the thrill of profiting from pain, these stocks deserve your consideration.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * The Jobs Report Isn't an Effective Metric for the U.S. Economy Behold, three vulnerable stocks to sell.Source: ThinkorSwim Box (BOX)Box (NYSE:BOX) shares were full participants in the 2019 comeback rally in the stock market. It set a blistering pace, gaining some 47% in the first two months alone. And then its earnings announcement killed the momentum. Since the late-February down-gap, BOX stock has been treading water.But with this week's slip, the company's shares are now testing the lower end of the range. And that presents an exciting breakdown setup worth trading. The critical level to watch is $18.40. If BOX breaches it, watch out below. It could send the shares down to the next support zone at $16.If support gives way then consider buying the June $19 puts.Source: ThinkorSwim Dropbox (DBX)Short of one glorious bullish episode, the entire saga of Dropbox's (NASDAQ:DBX) public life has been disappointing.Its 2019 flight path has mirrored BOX -full participation in the Jan-Feb boom and then upended by earnings. Since the quarterly report, DBX stock has been locked in a downtrend beneath falling moving averages. The 200-day, 50-day, and 20-day are all careening lower in a bearish fashion. With resistance heaped on top of it, DBX has struggled to score any kind of sustainable rally.And yesterday's high volume drop has me thinking more pain is in the offing. Support at $21 is being probed as I type and it's a test that will likely fail. A successful support breach could send the stock back to its 52-week low at $18.50. * 5 Dividend Stocks Perfect for Retirees To profit, you could buy the July $22 puts.Source: ThinkorSwim Alcoa (AA)Alcoa (NYSE:AA) has taken shareholders on quite the wild ride. Since 2016 the hellish coaster has risen 186% and then plunged 56%.This year's action can best be described as base building. It's essentially traveled directly sideways with neither bulls nor bears willing to touch it. But if the premarket weakness in response to this morning's earnings announcement is any indication, we could soon see a test of the lower end of its range.$26.50 is the zone to watch. If buyers emerge to defend it, then hold off on bear trades. But if it fails, then it's game on for shorts. Buying the July $28 puts or the July $28/$24 put spread are your go-to plays.As of this writing, Tyler Craig didn't hold a position in any of the aforementioned securities. Check out his recently released Bear Market Survival Guide to learn how to defend your portfolio against market volatility. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 5 Dividend Stocks Perfect for Retirees * 7 Reasons the Stock Market Rally Isn't Over Yet * 10 S&P 500 Stocks to Weather the Earnings Storm Compare Brokers The post 3 Stocks on Shaky Ground appeared first on InvestorPlace.
Key Takeaways from Alcoa’s Q1 Earnings(Continued from Prior Part)Trump’s tariffs During the first-quarter earnings call, Alcoa (AA) took a swipe at the Section 232 tariffs that President Trump imposed last year. From the very beginning, Alcoa
Key Takeaways from Alcoa’s Q1 EarningsAlcoa’s first-quarter earnings Alcoa (AA) released its first-quarter earnings after the markets closed on April 17. The company reported revenues of $2.72 billion in the first quarter. The analysts polled by
Alcoa (AA) delivered earnings and revenue surprises of -35.29% and -0.28%, respectively, for the quarter ended March 2019. Do the numbers hold clues to what lies ahead for the stock?
PITTSBURGH (AP) _ Alcoa Corp. (AA) on Wednesday reported a first-quarter loss of $199 million, after reporting a profit in the same period a year earlier. The results missed Wall Street expectations. Alcoa shares have risen slightly more than 4 percent since the beginning of the year, while the Standard & Poor's 500 index has increased 16 percent.