|Bid||20.60 x 1100|
|Ask||20.69 x 1000|
|Day's Range||20.59 - 21.59|
|52 Week Range||16.46 - 31.45|
|Beta (5Y Monthly)||1.63|
|PE Ratio (TTM)||N/A|
|Earnings Date||Jan 14, 2020 - Jan 20, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||25.08|
President Trump announced he was 'restoring' tariffs on imports of steel and aluminum from Brazil and Argentina and accelerating a trade war on another front. Yahoo Finance's Julie Hyman, Adam Shapiro, Jessica Smith, Brian Cheung and Heidi Chung discuss.
Is it time for the animal spirits to be released on Wall Street amid speculation of a concrete U.S.-China trade deal?
The aluminium market is in trouble again. The London Metal Exchange (LME) price touched a three-year low of $1,705 per tonne in October and has failed to stage any significant bounce over the intervening period. Earlier this year there was a lot of excited talk in the market about growing supply deficits and falling stocks.
(Bloomberg) -- Apple Inc. is taking delivery this month of the first batch of carbon-free aluminum produced by a Montreal-based venture, helping move the iPhone maker closer to its greenhouse-gas reduction goal.Elysis, a joint venture between Rio Tinto Group and Alcoa Corp. backed by Apple, uses new technology that emits pure oxygen when producing aluminum. Apple has said in an environment report that 80% of its emissions from an iPhone 8 came during the production phase. The metal is also used in iPads, Macs and Apple watches.“For more than 130 years, aluminum — a material common to so many products consumers use daily — has been produced the same way,” Lisa Jackson, vice president of environment, policy, and social initiatives at Apple, said in an emailed statement.Rio’s commercial network is handling the first delivery to Apple, a Rio spokesman said in an email.“This is another important step towards zero carbon aluminum and a more sustainable future,” said Alf Barrios, Rio Tinto Aluminium chief executive officer.The metal being shipped to Apple was produced at the Alcoa Technical Center in Pittsburgh.“This first sale is tangible evidence of our revolutionary work to transform and disrupt the conventional smelting process by making a process that is both more efficient and more sustainable,” Benjamin Kahrs, an Alcoa executive vice president and Chief Innovation Officer, said in a statement.\--With assistance from Mark Gurman and Steven Frank.To contact the reporter on this story: Joe Deaux in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Luzi Ann Javier at email@example.com, Joe RichterFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
The metal is being made by Elysis, a Montreal-based joint venture of Alcoa Corp and Rio Tinto announced last year with $144 million in funding from the two companies, Apple and the governments of Canada and Quebec. The aluminum will be shipped this month from an Alcoa research facility in Pittsburgh and used in Apple products, although the technology company did not say which ones.
Alcoa Corp will need cheaper, more reliable power to keep its Portland smelter in Australia open beyond 2021 when its current supply deal ends, the aluminium major's partner said on Thursday. Alumina Ltd, Alcoa's partner in the Alcoa World Alumina and Chemical joint venture, would have a veto over any decision to shut the plant, its Chief Executive Mike Ferraro said, adding it was too early to predict the smelter's future. "We would ideally like to find a solution," Ferraro told reporters on the sidelines of a mining event in Melbourne.
Alcoa Corporation, a global leader in bauxite, alumina, and aluminum products, today announced additional actions to reduce liabilities and volatility risk from pensions and other postemployment benefits (OPEB).
The latest 13F reporting period has come and gone, and Insider Monkey is again at the forefront when it comes to making use of this gold mine of data. We have processed the filings of the more than 700 world-class investment firms that we track and now have access to the collective wisdom contained in […]
According to a Fandango poll, three-quarters of millennials said that new streaming services such as Disney+ have raised their interest in seeing films in movie theaters.
Alcoa Corporation, a global leader in bauxite, alumina and aluminum, today announced that it has been accepted as a member of the International Council on Mining and Metals (ICMM), an organization focused on enhancing the industry’s contribution to society with safe, fair and sustainable practices. Alcoa is a recognized leader in sustainability, with certifications from the Aluminium Stewardship Initiative and inclusion in the annual Dow Jones Sustainability Indices, where the Company was recently recognized as the aluminum industry leader. “Our membership in ICMM gives us an opportunity to learn, define and share best-in-class mining practices through a common set of international standards,” said Alcoa President and Chief Executive Officer Roy Harvey.
Shares of Slack Technologies Inc. slumped as much as 10% Tuesday on news that Microsoft Corp.'s competing Teams communication app has passed more than 20 million daily active users, extending its lead over Slack. Microsoft on Tuesday said its Teams app grew 54% since July as it continues to benefit from corporate wins, including Alcoa Corp. and Telefonica S.A. . Microsoft Chief Executive Satya Nadella in October said Teams -- which was introduced in 2016, two years after Slack -- has 350 customers with at least 10,000 people using its app. In October, Slack said it has 12 million daily active members, up from 10 million in late January. "We continue to believe that while Slack has the first mover advantage in this new market opportunity, Microsoft represents the biggest risk for investors given its massive enterprise installed base and the fact that it offers Teams with no extra charge to its Office 365 business customers," Wedbush Securities analyst Daniel Ives said in a research note on Tuesday. He rates Slack stock an "Underperform," with a price target of $14 a share.
Shares of Alcoa Corp. dropped 4% in afternoon trading Wednesday, after Bank of America Merrill Lynch analyst Timna Tanners turned bearish on the aluminum products company citing a cautious view on aluminum pricing and valuation concerns. Tanners cut her rating to underperform from neutral, while keeping her stock price target at $21, which 2.1% below current levels. "Although aluminum prices rallied with base metals over the past month, partly boosted by hopes of a trade agreement, we remain cautious amid extra supply in China and more modest government-mandated winter shutdowns," Tanners wrote in a note to clients. "While some reports suggested alumina cuts in China, our colleagues noted excess supply risks." She said that stock has rallied 16% since the company reported third-quarter results on Oct. 16, after the company detailed a planned a review of its assets, while aluminum prices have gained 6%. "Investors may be overly enthusiastic over any cost savings implied in the review, in our view, as mgmt has said the process likely takes more than five years to complete and could incur added costs," Tanners wrote. the stock has tumbled 20% year to date, while the Dow Jones Industrial Average has gained 9.7%.
Vancouver, British Columbia--(Newsfile Corp. - November 5, 2019) - Alba Minerals Ltd. (CSE: AA) (FSE: A117RU) (OTC PINK: AXVEF) is one of the latest new listings on the Canadian Securities Exchange, having previously traded on the TSX Venture Exchange. The Vancouver-based junior resource company is focused on the development of its lithium and gold properties, with projects in North and South America.hyjFor more information, please view the InvestmentPitch Media "video" which provides additional ...
(Bloomberg Opinion) -- The internet came to life 50 years ago this week, with a simple message sent from the University of California, Los Angeles to the Stanford Research Institute. The system crashed only two characters into the transmission of the word “login”: SRI received only “lo” — “as in ‘lo and behold!’” in the words of UCLA’s Leonard Kleinrock. The UCLA terminal operators’ logbook, with its record of “Talked to SRI host to host,” is the internet’s birth certificate. Five decades later, half the world uses the internet. It took almost the entirety of human existence for half the world’s people to live in cities. It took 27 years for the global population on the internet to grow from less than 1% to more than 50%. It’s hard to imagine contemporary government, finance or media running without the internet. The internet, and with it the process of digitizing businesses and economies, is now a matter of national focus in dozens of countries. Earlier this year, my BloombergNEF colleagues analyzed 40 national industrial digitization strategies. They then ranked countries based on the ambition of their digital efforts, the alignment of public- and private-sector goals, and the capital, workforce and technology employed to digitize at greater scale. Of the top 10, four countries are Asian, and four are European. BloombergNEF’s analysis identifies key commonalities between the countries that have been most successful in using internet-enabled technologies, such as the internet of things and artificial intelligence to make domestic industries more globally competitive. The most successful models align private-sector goals with national digital policies that focus on a few strategic areas. Digitization is not just for wealthy economies (the top 10 include Singapore, with a per capita GDP of $94,000, and China, with a per capita GDP of $17,000), but the skills gap is a concern everywhere. And every country fears falling behind in artificial intelligence strategies, even the perceived leaders such as Germany, the U.K. and Israel. There’s another thing that worries newly digitizing countries: information and communications technology infrastructure. For most of the emerging markets BloombergNEF analyzed, building the infrastructure to allow connectivity and internet access is the crucial first step. That ICT backbone, as BloombergNEF calls it, is not just as important as reliable electricity, but it’s also inextricably linked to it in developing countries. Highly distributed, increasingly renewable power in emerging markets depends upon ICT to integrate with the electricity network and carry out transactions between buyers and sellers off the grid. That same ICT network depends upon reliable power to operate. Today, neither network can live without the other. And no country’s digitization strategy will work without these networks being integrated and reliable. In the developed world, electricity was a precursor to the internet; in the developing world, both networks are growing together. Many countries that are building both networks simultaneously are layering their digitization strategies on top as well. This combination of networks and strategies will be crucial for all economies to grow and adapt, be they already rich or still emerging. Weekend readingWe misremember the internet’s origins, says Ingrid Burrington. Lower-income children ages 8 to 12 spend almost two hours more time in front of screen media than higher-income children of the same age. There is also a significant homework gap in computer access by income. The Porsche 911 and Nissan GT-R are among the 10 cars with the lowest five-year depreciation. The BMW 5, 6 and 7 Series are among the 10 cars with the highest five-year depreciation. The downturn in U.S. shale drilling has been so steep and brisk that oilfield companies are scrapping pumps, pipes and storage tanks. The secret (and large) supply chain of an AmazonBasics alkaline battery. Nobel laureate M. Stanley Whittingham is working to find the ultimate limit of lithium-ion storage batteries. A profile of Sylvie Bénard of LVMH Moet Hennessy Louis Vuitton SE, the executive in charge of the luxury group’s sustainability efforts. WeWork’s business model was risky, it required an unusual source of investment, “and these days Softbank is the most unusual of all.” Softbank Group Corp.’s Masayoshi Son spoke to an almost empty room at the Future Investment Initiative in Saudi Arabia. The history of U.S. military service dogs. Video series of 16 counterintuitive fundraising lessons from seed and series A venture firm NFX. Alcoa Corp. is selling a 32,000-acre ranch in Rockdale, Texas, that includes 14 lakes, mineral rights and an aluminum smelter it shut down in 2008. Nigeria is reviving a steel plant on hold since the Soviet era. Bumper sticker and parking permit safety risks, according to the National Capital Region Threat Intelligence Consortium. Bloomberg Economics’ New Economy Drivers and Disrupters Report. Get Sparklines delivered to your inbox. Sign up here. And subscribe to Bloomberg All Access and get much, much more. You’ll receive our unmatched global news coverage and two in-depth daily newsletters, the Bloomberg Open and the Bloomberg Close.To contact the author of this story: Nathaniel Bullard at firstname.lastname@example.orgTo contact the editor responsible for this story: Brooke Sample at email@example.comThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Nathaniel Bullard is a BloombergNEF energy analyst, covering technology and business model innovation and system-wide resource transitions.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.