28.62 0.00 (0.00%)
After hours: 4:54PM EDT
|Bid||28.50 x 800|
|Ask||29.30 x 1400|
|Day's Range||28.49 - 29.32|
|52 Week Range||25.01 - 62.35|
|Beta (3Y Monthly)||1.40|
|PE Ratio (TTM)||23.85|
|Earnings Date||Apr 16, 2019 - Apr 22, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||40.08|
Alcoa (NYSE:AA) is not the same company it used to be. But it continues to forge ahead with its alumina and aluminium business, as they make up the bulk of its business. And as with most industrial stocks, AA has had its challenges last year -- partly due to the global tariff wars and also due to the sentiment that growth is slowing down.Source: Josh Hallett via Flickr (Modified)This year, the stock is doing much better than it finished 2018. It is now up 9.6% year to date. But this is still lagging the S&P 500 and the Dow Jones, which are both up over 11% for the same period.Investor sentiment is now much better, even though we still have the tariff war deadlines looming. The only difference this year from last is that the central banks are now back in stimulus mode. This started with U.S. Federal Reserve Chair Jerome Powell clearly stating that they are almost done raising rates. Also, China now is completely and publicly committed to stepping on the growth pedal, perhaps in an effort to offset the losses they are suffering from the tariff war. The ECB is back into keeping the easy money situation for long.InvestorPlace - Stock Market News, Stock Advice & Trading TipsSo all this is to say that the whole world is still highly committed to growth, and that is good for companies like Alcoa. So unless management commits major mistakes in execution, its stock has support. The AA Stock OpportunityToday's opportunity is of the technical nature. AA stock has been in a descending wedge for months. It has set a lower-high trend since its earnings report almost one year ago. This stock slide created a descending wedge that is now very tight. So there should soon be a breakout from it. * Top 7 Service Sector Stocks That Will Pay You to Own Them Alcoa stock is showing the first signs of stabilization. Since the Christmas lows, it has set higher lows, forming what looks like a trough. This is how bottoms form to establish a base from which the bulls can put forth an effort to rebound. Those bulls need a solid floor against which they can push upwards.Meanwhile, it is still making lower highs, so the tightening range is creating tension in the stock and building energy. This has to release itself soon as the battle comes to a pint point on the charts. Just above current levels there are trigger lines. If the bulls can push through resistance around $29.40 per share, they would invite momentum buyers. Click to Enlarge Conversely, if the bears break through this base then this would bring back momentum sellers and the selling could intensify.Earnings are drawing near, and they could be the catalyst that decides the outcome of this battle between bulls and bears over the next move in AA stock. The best way to trade the upside potential is to go long the stock ahead of its earnings and profit from the potential rally going into the event.But I would lock in the profits before the actual headline. The short-term reactions to earnings are binary. We don't know what the company will report -- and more importantly, we don't know how Wall Street will react to it. AA has not had a history of good reactions to their earnings reports. They've had three of the last four reactions be negative.Those looking to invest in AA stock for the long term need not worry about the short-term gyrations in the stock. But I'd definitely set a stop loss level, and $26.40 and $25.10 are important lines to hold even for the long-term investors. AA stock is not cheap at a 24x trailing price to earnings ratio, though, so the downside risk if management disappoints is real.Nicolas Chahine is the managing director of SellSpreads.com. As of this writing, he did not hold a position in any of the aforementioned securities. You can follow him as @racernic on Twitter and Stocktwits. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Financial Stocks to Invest In Today * 7 Single-Digit P/E Stocks With Massive Upside * 5 Chip Stocks on the Rise Compare Brokers The post Alcoa Stock Is Building Energy for a Potential Spike appeared first on InvestorPlace.
Apple (AAPL) makes progress with its green initiatives and furthers talks with Rio Tinto to replace the latter's existing aluminum extraction technology with an environment-friendly one.
DowDuPont's Corteva Adds Two New Members to Its BoardDowDuPont adds two additional members to Corteva’s board In a press release today, DowDuPont (DWDP) said that it had added two additional members to the future board of directors of Corteva
China’s February Trade Data Compounded Slowdown Fears(Continued from Prior Part)Alcoa While Chinese steel exports have been in a secular downtrend after hitting a record high in 2015, the country’s aluminum exports have continued to rise. The
What's Changed after a Year of Trump’s Metal Tariffs?(Continued from Prior Part)US aluminum producers Previously, we looked at how Section 232 tariffs have lifted US steel production and also looked at steel companies’ investment plans after the
What's Changed after a Year of Trump’s Metal Tariffs?Trump’s metal tariffs On March 8, 2018, US President Trump announced tariffs on US steel and aluminum imports. The tariffs became effective on March 23. The tariffs were imposed after two
Should You Expect More Gains from Alcoa in 2019?(Continued from Prior Part)Alcoa’s 2019 outlookIn the previous part, we discussed Alcoa’s valuation and earnings estimates. In this part, we’ll discuss Alcoa’s outlook after a reasonably strong
Should You Expect More Gains from Alcoa in 2019?(Continued from Prior Part)AlcoaAs we noted in the previous part, brokerages are still bullish on Alcoa (AA). Although some analysts have lowered Alcoa’s target price, the consensus estimates still
Should You Expect More Gains from Alcoa in 2019?Alcoa Alcoa (AA), the leading US-based aluminum producer (XME), has seen an upward price action of 13.5% in 2019 based on its closing prices on February 22. Century Aluminum (CENX) and Rio Tinto (RIO)
Last month when IPS Worldwide, an Ormond Beach, Florida-based freight audit and payment services provider, filed a petition for Chapter 11 bankruptcy protection, details were somewhat scanty. A payments company with assets worth less than $50,000 had managed to accrue liabilities of between $100 million and $500 million, according to the filing. IPS Worldwide had gross revenues of approximately $9 million in 2018, according to a court document filed by the company, and about 32 employees.
Century Aluminum Posted a Loss despite Trump’s TariffsCentury AluminumOn February 21, Century Aluminum (CENX) released its fourth-quarter earnings after the markets closed. The company posted an adjusted net loss of $40.7 million in the fourth
It is almost a year since the United States imposed duties on imports of aluminium and steel on national security grounds. If the aim of the so-called "Section 232" tariffs was to lift domestic production, President Donald Trump's administration can claim a degree of success. U.S. output of primary aluminium has started rising sharply thanks to restarts of idled capacity, although not all of them have been directly down to the 10-percent import tariff.
Alcoa Corporation (AA) today announced that its President and Chief Executive Officer Roy Harvey will present at the BMO Capital Markets 28th Global Metals & Mining Conference in Hollywood, Florida, on Tuesday, February 26, 2019 at 11 a.m. EST. Mr. Harvey’s presentation will be available through a real-time, live audio webcast on the “Investors” section of Alcoa’s website, www.alcoa.com, at 11 a.m. on Tuesday, February 26, and presentation materials will be available for viewing at approximately 7 a.m. on Monday, February 25, at the same link. Alcoa Corporation intends to make future announcements regarding company developments and financial performance through its website at www.alcoa.com.
Stocks that are cheaper aren't necessarily cheap. Sometimes, oversold stocks aren't necessarily the best stocks to buy. Sometimes, fallen angel stocks have fallen for good reason.But in the broad market selloff in the fourth quarter, it does look like investors dumped some good names. Housing and construction stocks, for instance, seem to be pricing in a recession. Semiconductor stocks have plunged, with investors reverting from pricing in secular growth to believing the sector is the same old cyclical story. In both cases--and in many other stocks' cases--investors have sold first, and asked questions later.These 5 oversold stocks are among that group. And all five are among the best stocks to buy right now, particularly for investors who believe the market has more upside coming in 2019. Each stock is down at least 30% over the past year. And each of these fallen angels has a path to recover those losses--and perhaps reach new highs. SEE ALSO FROM KIPLINGER: 18 Dividend Aristocrats That Have Gone on Deep Discount
US-China Trade Deficit Narrows: Will It Please Trump?(Continued from Prior Part)AlcoaIn the previous part, we noted that China’s steel exports rose in January. While China’s steel exports have been in a downtrend after hitting a record high in
Elliott Management Corp. spent years pushing for changes at Arconic Inc. and its pre-breakup predecessor Alcoa Inc., arguing a better management team could steer the company toward higher profit margins. The hedge fund had a hand in picking at least seven of Arconic’s 13 board members, including CEO Chip Blankenship, whose one-year tenure ended abruptly on Wednesday as Arconic announced he would be replaced by Chairman John Plant. Elmer Doty, whom Elliott campaigned for as part of a 2017 proxy fight that saw former CEO Klaus Kleinfeld ousted, will be the chief operating officer.
After a tough year, Alcoa's stock regained its footing last month, but there's still a lot to think about before jumping aboard.
Alcoa Corporation today announced that John Slaven will join the Company as Executive Vice President and Chief Strategy Officer, effective February 4.
U.S. Steel’s 2019 Guidance: What You Need to Know(Continued from Prior Part)GuidanceAs we discussed previously, U.S. Steel (X) changed its guidance methodology during its fourth-quarter earnings release. The company has stopped providing its
NEW YORK, Jan. 31, 2019 -- In new independent research reports released early this morning, Fundamental Markets released its latest key findings for all current investors,.