AA - Alcoa Corporation
| Previous Close | 17.78 |
| Open | 18.06 |
| Bid | 17.68 x 3200 |
| Ask | 17.66 x 1200 |
| Day's Range | 17.51 - 18.25 |
| 52 Week Range | 16.46 - 31.45 |
| Volume | 9,032,097 |
| Avg. Volume | 4,139,149 |
| Market Cap | 3.283B |
| Beta (5Y Monthly) | 1.63 |
| PE Ratio (TTM) | N/A |
| EPS (TTM) | -6.07 |
| Earnings Date | Apr. 14, 2020 - Apr. 19, 2020 |
| Forward Dividend & Yield | N/A (N/A) |
| Ex-Dividend Date | N/A |
| 1y Target Est | 23.77 |
- Bloomberg
Alcoa Drops as $1 Billion Revamp Faces World Awash in Metal
(Bloomberg) -- Alcoa Corp. shares posted the biggest decline since mid-2018 after the top U.S. aluminum producer reported a wider-than-expected loss and said it sees global output of the metal outstripping demand this year.The forecast for a surplus adds urgency to the company’s cost-cutting drive after a fourth straight quarterly loss. The oversupply of metal will be fueled by production in China, according to the company’s forecast.Aluminum prices have slipped amid trade tensions and a slowdown in manufacturing worldwide, and Alcoa’s forecast suggests further declines may be in store. The Pittsburgh-based company has been taking steps to counter weak prices by shedding assets and getting leaner, saying in October it would sell non-core businesses to generate as much as $1 billion in net proceeds.“China overcapacity remains a problem for the aluminum market with no change on the horizon,” Jefferies LLC analysts including Christopher LaFemina said in a note. “While Alcoa is taking actions to cut costs and drive productivity, weak aluminum market fundamentals and a lack of free cash flow are concerns.”Shares fell 12% to close at $17.78 in New York, the biggest decline since July 2018 and the worst performance on the Russell 3000 Index. Alcoa’s statement was released after the close of regular trading on Wednesday.Alcoa projected global aluminum supply will exceed demand by as much as 1 million metric tons in 2020, fueled by production in China. That compares with a deficit last year of 900,000 tons to 1.1 million tons.Worldwide demand growth will be in a range of 1.4% to 2.4% this year. The company’s final aluminum estimate for 2019 was a decline of 0.2% to 0.4%.Still, the increase in demand won’t be enough to absorb excess supply.“In aluminum, Chinese overcapacity continues to challenge the global market,” Alcoa Chief Executive Officer Roy Harvey said on the company’s earnings call with analysts Wednesday. “The excess supply of Chinese semis will be exported to the world,” effectively displacing primary aluminum in those markets, he said.The so-called phase one trade deal the U.S. signed with China on Wednesday may be cause for optimism.“There are catalysts for positive change,” Harvey said, citing “recent developments that we’ve seen with China, and particularly if we start to advance toward a phase two part of the deal. I think that gives us the catalyst for improvements happening more quickly.”(Updates with shares in fifth paragraph.)\--With assistance from Steven Frank.To contact the reporter on this story: Joe Deaux in New York at jdeaux@bloomberg.netTo contact the editors responsible for this story: Luzi Ann Javier at ljavier@bloomberg.net, Joe Richter, Steven FrankFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- Zacks
Alcoa Corp. (AA) Reports Q4 Loss, Misses Revenue Estimates
Alcoa Corp. (AA) delivered earnings and revenue surprises of -40.91% and -1.07%, respectively, for the quarter ended December 2019. Do the numbers hold clues to what lies ahead for the stock?
- Business Wire
Alcoa Corporation Reports Fourth Quarter and Full-Year 2019 Results
Alcoa Corporation (NYSE: AA), a global leader in bauxite, alumina, and aluminum products, today reported fourth quarter and full-year 2019 results.
- Yahoo Finance
Trade deal, Fed Beige Book, bank earnings — What to know in markets Wednesday
Signing of the “phase one” trade deal, Federal Reserve’s release of its Beige Book and another round of bank earnings will keep investors busy Wednesday.
- Zacks
Earnings Preview: Alcoa (AA) Q4 Earnings Expected to Decline
Alcoa (AA) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
- Zacks
Alcoa (AA) to Divest Gum Springs Facility to Veolia for $250M
The divestment of Alcoa's (AA) Elemental Environmental Solutions business will enable the company to focus more on its core business.
- Zacks
New Strong Sell Stocks for January 3rd
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- Business Wire
Alcoa Announces Agreement to Sell Gum Springs Facility in $250 Million Transaction
Alcoa Corporation, a global leader in bauxite, alumina, and aluminum products, has agreed to sell its Gum Springs, Arkansas waste treatment facility, to Veolia ES Technical Solutions (VTS) in a transaction expected to close in the first quarter of 2020.
- Zacks
Simple Market Timing Strategies That Work - December 24, 2019
Is the ability to time the markets more of a data-driven science or a 'gut - feeling' art?
- Business Wire
Alcoa Schedules Fourth Quarter 2019 Earnings Release and Conference Call
Alcoa Corporation, a global leader in bauxite, alumina, and aluminum products, plans to announce its fourth-quarter 2019 financial results on Wednesday, January 15, 2020, after the close of trading on the New York Stock Exchange.
- Business Wire
Point Comfort Refinery in Texas to Permanently Close
Alcoa Corporation, a global leader in bauxite, alumina, and aluminum products, today announced that it will permanently close its Point Comfort alumina refinery in Texas.
- Yahoo Finance
A 'phase one' US-China trade deal would solve one major problem for the stock market
Is it time for the animal spirits to be released on Wall Street amid speculation of a concrete U.S.-China trade deal?
- Simply Wall St.
Is Alcoa Corporation (NYSE:AA) A Volatile Stock?
If you're interested in Alcoa Corporation (NYSE:AA), then you might want to consider its beta (a measure of share...
- Bloomberg
Apple Buys First Carbon-Free Aluminum from Rio-Alcoa Venture
(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 jdeaux@bloomberg.netTo contact the editors responsible for this story: Luzi Ann Javier at ljavier@bloomberg.net, Joe RichterFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- Reuters
Apple buys first-ever carbon-free aluminium from Alcoa-Rio Tinto venture
The metal is being made by Elysis, a Montreal-based joint venture of Alcoa Corp and Rio Tinto announced last year with $144 million (£112.24 million) in funding from the two companies, Apple and the governments of Canada and Quebec. The aluminium 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. The smelting process involves passing electrical current through a large block of carbon called an anode, which burns off during the process and releases carbon dioxide into the atmosphere.
- Zacks
New Strong Sell Stocks for December 5th
Here are 5 stocks added to the Zacks Rank 5 (Strong Sell) List today
- Business Wire
Alcoa Announces Additional Actions on Pension and Other Postemployment Benefits (OPEB) in the United States
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).
- Zacks
Nike, Alcoa, Amazon, Target and Best Buy highlighted as Zacks Bull and Bear of the Day
Nike, Alcoa, Amazon, Target and Best Buy highlighted as Zacks Bull and Bear of the Day
