18.34 +0.29 (1.61%)
Pre-Market: 7:20AM EDT
|Bid||18.00 x 800|
|Ask||18.61 x 1800|
|Day's Range||17.91 - 18.55|
|52 Week Range||16.68 - 45.65|
|Beta (3Y Monthly)||1.53|
|PE Ratio (TTM)||N/A|
|Earnings Date||Oct 16, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||29.42|
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.
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.
Alcoa and Arconic were split into two companies three years ago. Now Arconic is worth more—and looks better-positioned—than its former parent.
Analysts wait on the Q3 earnings call for more details to emerge surrounding Arconic Corp. and Howmet Aerospace Inc.
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.
Within the next year, Arconic Inc. (NYSE: ARNC) will split to become Howmet Aerospace Inc. and Arconic Corp., according to the company’s second-quarter 2019 earnings call Friday morning. Arconic CEO John Plant announced his intention to remain in the role “through separation and beyond.” Plant, who took on the position in February 2019, had previously planned to step down in February 2020 when the split concluded. Plant declined to identify which of the two new companies he would lead. “The important thing is to make sure that we had continuity through the separation,” Plant said. Elmer Doty, current president and COO of Arconic, will step down when the companies split, but remain on one of the boards of directors. Howmet Aerospace Inc. will include engine components, fastening systems, engineered structures and forged aluminum wheels.
Alcoa Corp. said Wednesday it expects to book a charge of about $135 million, or 73 cents a share, in the third quarter on the sale of Spanish units to Parter Capital Group AG, a Swiss private-equity firm. Parter will acquire subsidiaries that own and operate the Avilés and La Coruña aluminum plants in Spain. The acquisition includes the casthouses at both plants and the paste plant at La Coruña, which are currently in operation, along with the curtailed smelters at both plants. Under the terms of the deal, all 630 employees will be kept on for at least two years. Parter may also restart the plant's smelting capacity. Alcoa shares dipped slightly premarket and are down 13% in 2019, while the S&P 500 has gained 20%.
Alcoa Corporation, a global leader in bauxite, alumina, and aluminum products, today announced the completion of a transaction with private equity investment firm PARTER Capital Group AG, based in Schindellegi, Switzerland, for that firm to acquire Alcoa’s Spanish subsidiaries that own and operate the Avilés and La Coruña aluminum plants in Spain. The acquisition, effective immediately, includes the casthouses at both plants and the paste plant at La Coruña, which are currently in operation, and the curtailed smelters at both plants. Under terms of the agreement, PARTER Capital Group will maintain the facilities’ entire workforce (approximately 630 employees) for a minimum of two years and has proposed reindustrialization projects for both sites and a potential restart of the plants’ smelting capacity.
Conway's plans for the union include industry diversification and building up a younger generation of union workers.
Alcoa Corporation, a global leader in bauxite, alumina and aluminum, today announced that the Aluminium Stewardship Initiative (ASI) has certified three Alcoa-operated locations, one in each of the Company’s three business units. The ASI certifications are valid for three years and include the Juruti bauxite mine in Brazil, the Alumar alumina refinery near São Luís, Brazil, and the aluminum smelter in San Ciprián, Spain. “We are honored that ASI has certified these three locations and recognized our sustainable approach, which drives how we operate our facilities, manufacture our products, and interact with our communities,” said Alcoa President and Chief Executive Officer Roy Harvey.
Global aluminium production fell by 0.5% in the first half of this year, according to the International Aluminium Institute (IAI). More significant in terms of underlying market dynamics is the loss of growth momentum in China, which dominates global aluminium production. As in the rest of the world there is potential for restarts to kick in over the rest of the year but the bigger picture is one of China's giant aluminium machine finally starting to flat-line.
LONDON/TORONTO (Reuters) - Canada's exemption from U.S. tariffs on imports of aluminum metal has boosted earnings at the Canadian operations of companies such as Rio Tinto and Alcoa, but has not cut costs for U.S. consumers. In May, the United States lifted the Section 232 tariff of 10% imposed on Canadian imports of aluminum, a vital ingredient for auto makers, drinks firms and military equipment companies. Aluminum costs for U.S. consumers are the benchmark price on the London Metal Exchange at around $1,810 a tonne plus the physical market premium, around $400 a tonne.
(Bloomberg) -- The upbeat picture painted by this past week’s blowout bank earnings heralded a promising earnings season. Too bad other industries didn’t get the memo.In the same week the five biggest U.S. lenders raked in over $30 billion in earnings for the first time, others around the globe left investors wondering how the bottom fell out so fast. Netflix Inc. sunk the most in three years amid a surprise drop in U.S. customers, while online retailer Asos Plc plunged after issuing another profit warning. Meanwhile, one-time earnings bellwether Alcoa Corp. beat on profit -- but also cut its forecast for global aluminum demand, adding to concerns that trade frictions are eroding the outlook for the industrial metal.This week, a range of high-profile companies report results, from tech titan Amazon.com Inc. and embattled aircraft maker Boeing Co. to burger behemoth McDonald’s Corp. and electric-car maker Tesla Inc. The earnings will offer a glimpse into every major sector of the economy, and Wall Street will be watching for signals like reduced hiring expectations, stalled capital expenses or consumers’ waning willingness to accept price hikes.With stock markets trending near record highs but recession risks on the rise, the second quarter could be yet another notch in the longest bull market in history -- or the beginning of its end.Here’s a look at what we’re watching:CarsAutomaker earnings may show how much the one-two punch of slowing sales and massive technological disruptions are impacting the industry’s bottom line.Those challenges have forced Ford Motor Co. and Volkswagen AG further into one another’s arms. After extending an alliance to include joint work on electric and autonomous vehicles, they’re expected to report stagnant or shrinking revenue. Daimler AG will put out finalized results weeks after the Mercedes-Benz maker posted a preliminary loss along with its fourth profit warning in just over a year. And analysts are projecting another unprofitable quarter for Tesla, which is blowing its battery-powered rivals out of the water but is still struggling to make money.The challenges extend to Asia, too. Nissan Motor Co. is set to give more details about restructuring efforts including potential job cuts as it tries to revive profitability that’s at a decade low. Jaguar Land Rover’s Indian owner Tata Motors Ltd. is also under pressure to show its cost-cut efforts are bearing fruit as it’s hit with hurdles from Brexit, a slowdown in China and flagging demand for diesel vehicles.ConsumerIf sales slow at McDonald’s, Starbucks Corp. or Chipotle Mexican Grill Inc., it will be a sign that consumers are cutting back on spending and eating out less. Higher labor and commodity costs have also forced restaurants to raise prices to maintain margins, and diners might balk at the idea of paying more for coffee and guacamole-stuffed burritos.Higher prices in recent quarters have benefited Starbucks as well as beverage makers Coca-Cola Co. and PepsiCo Inc. At Anheuser-Busch InBev, which just sold its Australian beer assets, investors will listen for any signs an IPO for the rest of its Asian business could be back on the table.China, meanwhile, will be the focus when European luxury conglomerates LVMH and Kering SA report results. The health of sales in that region will be scrutinized after showing surprising resilience in recent quarters, despite an ongoing trade war with the U.S. and the nation’s economic slowdown. Hong Kong protests, meanwhile, are hurting luxury spending at companies such as Richemont and Swatch Group AG.EntertainmentAT&T Inc. and Comcast Corp. can’t wait to enter the battle against Netflix and Walt Disney Co.’s Hulu for streaming-video viewers, but they have to contend with the continued decline of their legacy businesses first. As consumers flee traditional cable packages in favor of services like Netflix, AT&T and Comcast are expected to lose television customers, so investors will watch for signs that broadband subscriber growth can offset those declines.With casino companies including Las Vegas Sands Corp. and MGM Resorts International and their Asia subsidiaries reporting, investors will be on the lookout for any impact from China’s economic weakness.IndustrialsThe future of the 737 Max will be in focus when we hear from Boeing, which plans to report a $4.9 billion accounting charge related to its beleaguered jetliner. Southwest Airlines Co. and American Airlines Group Inc. have already removed the Max from their flight schedules through early November. Southwest is the model’s biggest operator while American is the world’s largest airline, and both carriers are sure to field questions about the Boeing crisis on their conference calls with analysts this week.Another company on the hot seat is aerospace-parts giant United Technologies Corp., whose merger agreement with Raytheon Co. has drawn fire from activist investors Dan Loeb and Bill Ackman. Investors in Caterpillar Inc., meanwhile, will look for more clarity on global demand for the company’s iconic machines in the second half of the year.TechnologyTech investors have a lot of information heading their way, with Facebook Inc., Alphabet Inc., Intel Corp. and Twitter Inc. all reporting. Their main question is whether those firms can keep revenue climbing amid the U.S.-China trade war and signs of slowing economic growth. There’s also mounting regulatory pressure on the sector around antitrust and privacy concerns. One player that’s avoided the recent scrutiny is Microsoft Corp., whose quarterly profit just topped estimates on the strength of its cloud-computing business.For hardware companies like Texas Instruments Inc. and Intel, the focus will be on the loss of market share in China as the companies grapple with a ban on exports to Huawei Technologies Co., a key customer.Amazon’s Prime Day got scads of attention last week, but it won’t be reflected in the company’s upcoming results. Investors in the e-commerce giant will be paying close attention to the fast-growing advertising and cloud business units.BankingEurope’s banks are expected to trail their U.S. peers for yet another quarter as global trade tensions continue to weigh on client activity. And unlike American banks, the Europeans don’t have a healthy stream of income from lending to fall back on due to negative interest rates.Deutsche Bank AG has already announced a loss for the quarter as it embarks on massive cutbacks, and investors will press for more details. France’s BNP Paribas SA has agreed to take on Deutsche’s hedge-fund and electronic-trading clients, but the integration is proving difficult and BNP will have to show progress in turning its own stocks trading unit around following embarrassing losses last year.Finally, Credit Suisse Group AG will have to answer questions about the surprise exit of a key wealth management executive who was seen as a potential successor to CEO Tidjane Thiam.\--With assistance from Brendan Case, Craig Giammona, Joe Deaux, Molly Schuetz, Craig Trudell, John J. Edwards III, Christian Baumgaertel, Eric Pfanner, Ville Heiskanen, Reed Stevenson and Christopher Palmeri.To contact the reporters on this story: Matthew Boyle in New York at firstname.lastname@example.org;Anne Riley Moffat in New York at email@example.comTo contact the editors responsible for this story: Kevin Miller at firstname.lastname@example.org, Jonathan RoederFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
On Wednesday, Alcoa (AA) released its second-quarter earnings report after the markets closed. The company reported revenues of $2.71 billion.
Alcoa Corp. expects lower demand growth worldwide for aluminium even amid dwindling inventories of the metal, thanks to a double whammy of trade tensions and macroeconomic headwinds, it said late Wednesday. Shares of Alcoa (AA) fell in the extended session after the aluminium and alumina producer posted a narrower-than-expected second quarter loss but raised the concerns about demand — and the implications for the global economy. Alcoa said it estimates global aluminum demand growth for 2019 between 1.25% and 2.25% this year, down from a previous estimate of growth between 2% and 3%.
Alcoa (AA) delivered earnings and revenue surprises of 97.06% and -2.92%, respectively, for the quarter ended June 2019. Do the numbers hold clues to what lies ahead for the stock?
Alcoa (NYSE:AA) posted its quarterly earnings results after the bell today, amassing a loss that was narrower than expected, while revenue was in line, yet it fell year-over-year, prompting AA stock to take a step back late Wednesday.Source: Shutterstock The Pittsburgh, Penn.-based industrial company -- produces aluminum -- announced its second-quarter figures that cemented the midpoint of its fiscal 2019. The business posted a loss of $402 million, which tallied up to $2.17 per share, compared to the earnings of $10 million, or 5 cents per share, from the year-ago period.Alcoa added that for the period, it reported a loss of $2 million, or a penny per share, when adjusted for one-time items. During the year-ago period, it posted a profit of $1.17 per share. Wall Street expected the business to post an adjusted loss of 19 cents per share, according to the FactSet guidance.InvestorPlace - Stock Market News, Stock Advice & Trading TipsThe company also revealed its revenue for the period, tallying up to $2.7 billion, which is 25% less than the $3.6 billion from the second quarter of 2018. Analysts who were polled by FactSet were predicting revenue of $2.7 billion for the period.Alcoa also mentioned that the global demand for aluminum is projected to grow in 2019 by about 1.25% to 2.25%, below the previous guidance of 2% to 3%. We can point to a decrease in demand in China and the rest of the world as trade tensions continue.AA stock is sliding about 3.3% after the bell today, which is weaker than what analysts called for More From InvestorPlace * 10 Best Dividend Stocks to Buy for the Rest of 2019 and Beyond * 7 Dependable Dividend Stocks to Buy * 7 Dependable Dividend Stocks to Buy * 10 Stocks to Sell for an Economic Slowdown The post Alcoa Earnings: AA Stock Declines as Q2 Sales Slide 25% Y2Y appeared first on InvestorPlace.