AA - Alcoa Corporation

NYSE - NYSE Delayed Price. Currency in USD
11.23
-0.24 (-2.09%)
At close: 4:00PM EDT

11.27 +0.04 (0.36%)
After hours: 6:13PM EDT

Stock chart is not supported by your current browser
Previous Close11.47
Open11.23
Bid11.21 x 4000
Ask11.35 x 2900
Day's Range11.11 - 11.64
52 Week Range5.16 - 24.63
Volume4,548,689
Avg. Volume9,614,366
Market Cap2.088B
Beta (5Y Monthly)2.28
PE Ratio (TTM)N/A
EPS (TTM)-4.57
Earnings DateJul. 15, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target Est11.14
  • Alcoa Schedules Second Quarter 2020 Earnings Release and Conference Call
    Business Wire

    Alcoa Schedules Second Quarter 2020 Earnings Release and Conference Call

    Alcoa Corporation, a global leader in bauxite, alumina, and aluminum products, plans to announce its second quarter 2020 financial results on Wednesday, July 15, 2020 after the close of trading on the New York Stock Exchange.

  • U.S. Poised to Slap 10% Tariff Again on Aluminum From Canada
    Bloomberg

    U.S. Poised to Slap 10% Tariff Again on Aluminum From Canada

    (Bloomberg) -- The Trump administration is considering re-imposing tariffs on aluminum imports from Canada and an announcement could come by the end of the week, according to people familiar with the matter.If Canada refuses to impose export restrictions on aluminum, the U.S. will announce Friday the re-imposition of 10% tariffs on aluminum from the country and implement the tariffs by July 1, according to the people, who asked not to be identified because the information isn’t public.The announcement would come just days before the new U.S.-Mexico-Canada trade deal enters into force at the start of July. U.S. Trade Representative Robert Lighthizer has expressed concern about recent struggles by American aluminum producers, which have seen sales drop and all-in prices sink as demand evaporated amid the global pandemic.Lighthizer told the Senate Finance Committee in a hearing last week that recent surges in metal imports from North American neighbors are “of genuine concern to us now,” and that his office was looking at the issue.“I would say there have been surges on steel and aluminum, substantially from Canada, some from Mexico, and it is something that we’re looking at and talking to both Mexico and Canada about,” he told the panel’s top Republican, Senator Chuck Grassley from Iowa.A spokesman for the USTR didn’t respond to an emailed request for comment. A spokeswoman for Canadian Deputy Prime Minister Chrystia Freeland said in an emailed statement that Canadian exports don’t harm the U.S. market.“The free flow of goods and services, including aluminum, is important for jobs and economic growth in both of our countries,” her press secretary, Katherine Cuplinskas, said in an email to BNN Bloomberg television. “We firmly believe that our aluminum exports do not harm the US market. We are emphasizing this in our ongoing conversations with our American partners.”Producer SplitUnder the May 2019 agreement, which resulted in initial tariffs being lifted, Canada has to limit its retaliation to the U.S. metals sector and cannot hit American agriculture, Lighthizer told Grassley.Ironically, the three U.S. aluminum producers -- Alcoa Corp., Century Aluminum Co. and Magnitude 7 Metals LLC -- disagree whether tariffs should be reimposed.The American Primary Aluminum Association, which represents Century Aluminum and Magnitude 7 Metals, has asked Lighthizer to reimpose a 10% tariff on imports of Canadian aluminum, saying a rise in metal coming from the country has caused the price to collapse.The Aluminum Association of the U.S., which represents Alcoa Corp., Rio Tinto Group and dozens of other aluminum-parts makers, argues instead that imports are virtually unchanged since 2017.Alcoa CFO William Oplinger said at a virtual bank conference in June that China’s overcapacity subsidized by the government is the real problem, and that he supports free trade with “those who trade freely, especially the Canadians.”Market MalaiseThe benchmark price of aluminum traded in London is down 12% this year, and the price paid to ship metal to the U.S. Midwest -- a critical part of the all-in price for domestic producers -- is down more than 40%.Aluminum producers are struggling along with other businesses amid the pandemic. Alcoa, the top U.S. aluminum producer, in April cut the remaining capacity at its smelter in Ferndale, Washington. The same month, Century reported its lowest quarterly sales since the third quarter of 2017, citing demand destruction caused by the health crisis and commodity prices falling at an “unprecedented” pace.An agreement reached between the three North American countries in May 2019 included a monitoring and a mechanism to prevent increases in exports, but also stipulated that tariffs on metals could be reimposed “if surges in imports of specific steel and aluminum products occur.”Questions remain what a renewed tariff battle could do to the trade relationship between Canada and the U.S., which had been improving since last year when the sides were able to reach an agreement on the new Nafta deal.“It has damaged the trust relationship between our two countries,” Bruce Heyman, a former U.S. ambassador to Canada who served during the Obama administration, said in a telephone interview. “When we do these kind of things we do much more damage to the larger relationship than we can even calculate.”(Updates with comment from Canadian Deputy Prime Minister Chrystia Freeland’s spokeswoman in seventh paragraph.)For 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.

  • Reuters

    RPT-COLUMN-Friend or foe? Canadian imports split U.S. aluminium sector: Andy Home

    A surge in Canadian aluminium imports "is destroying what remains of the United States industry". The dramatic warning comes from the American Primary Aluminum Association (APAA), which represents Century Aluminum and Magnitude 7 Metals, two of the last three remaining primary producers in the United States. The solution, they argue in a May 27 letter to U.S. Trade Representative Robert Lighthizer and Commerce Secretary Wilbur Ross, is to revoke Canada's exemption from import tariffs.

  • Reuters

    COLUMN-Friend or foe? Canadian imports split U.S. aluminium sector: Andy Home

    A surge in Canadian aluminium imports "is destroying what remains of the United States industry". The dramatic warning comes from the American Primary Aluminum Association (APAA), which represents Century Aluminum and Magnitude 7 Metals, two of the last three remaining primary producers in the United States. The solution, they argue in a May 27 letter to U.S. Trade Representative Robert Lighthizer and Commerce Secretary Wilbur Ross, is to revoke Canada's exemption from import tariffs.

  • Alcoa to Begin Formal Consultation Process With Spanish Works Council Regarding San Ciprián Aluminum Smelter
    Business Wire

    Alcoa to Begin Formal Consultation Process With Spanish Works Council Regarding San Ciprián Aluminum Smelter

    Alcoa Corporation, a global leader in bauxite, alumina and aluminum, today announced that it plans to begin, on June 25, 2020, a formal process for the collective dismissal of employees at its San Ciprián aluminum facility in Spain.

  • Why Metals Stocks Alcoa, U.S. Steel, and ArcelorMittal Popped Friday
    Motley Fool

    Why Metals Stocks Alcoa, U.S. Steel, and ArcelorMittal Popped Friday

    Metals-producing companies saw their stocks rebound on Friday from Thursday's sharp sell-off, with shares of steelmakers ArcelorMittal (NYSE: MT) rebounding to post an 8.4% gain, U.S. Steel (NYSE: X) rising 10.8%, and aluminum giant Alcoa (NYSE: AA) closing up 10.7%. Logically, if those shares were going to move higher, they should have done so in response to the good news on metals prices.

  • Why Shares of Alcoa Gained 13% in May
    Motley Fool

    Why Shares of Alcoa Gained 13% in May

    It's been a tough ride for shareholders of Alcoa (NYSE: AA) with the stock vastly underperforming the S&P 500 in 2019 and losing nearly 75% of its value in the first three months of 2020. Alcoa shares gained 13% in May, according to data provided by S&P Global Market Intelligence, on growing hopes for a global economic recovery. Alcoa has been a tough stock to love for the better part of this century.

  • Why Industrial Stocks Harley-Davidson, Middleby, and Alcoa Surged This Morning
    Motley Fool

    Why Industrial Stocks Harley-Davidson, Middleby, and Alcoa Surged This Morning

    An unexpectedly strong jobs report plus New York's second phase of reopening raise investor hopes.

  • 3 Great Stocks Around $10 a Share
    Motley Fool

    3 Great Stocks Around $10 a Share

    The allure of penny stocks is that you can control a lot of shares for relatively little money, so that even small upward movements in the price can result in windfalls. Its recovery may be premature, as CEO Roy Harvey told analysts recently there was too much uncertainty to say we're on the edge of a recovery.

  • Thomson Reuters StreetEvents

    Edited Transcript of AA.N earnings conference call or presentation 15-Jan-20 10:00pm GMT

    Q4 2019 Alcoa Corp Earnings Call

  • Alcoa Executive Vice President and Chief Financial Officer William F. Oplinger to Present at the 11th Annual Deutsche Bank Global Industrials & Materials Summit
    Business Wire

    Alcoa Executive Vice President and Chief Financial Officer William F. Oplinger to Present at the 11th Annual Deutsche Bank Global Industrials & Materials Summit

    Alcoa Corporation, a global leader in bauxite, alumina, and aluminum products, announced today that William F. Oplinger, Executive Vice President and Chief Financial Officer, will present at the virtual 11th Annual Deutsche Bank Global Industrials & Materials Summit on Monday, June 8, 2020.

  • Why Alcoa, Century Aluminum, and Tronox Stocks Jumped at Least 10% Today
    Motley Fool

    Why Alcoa, Century Aluminum, and Tronox Stocks Jumped at Least 10% Today

    Metal-maker stocks exploded higher on Wednesday, with shares of aluminum producers Alcoa (NYSE: AA) and Century Aluminum (NASDAQ: CENX) climbing 11.4% and 10.7%, respectively, while titanium producer Tronox (NYSE: TROX) closed 10.3% higher. The aluminum producers' rise is easier to explain than Tronox's jump. Bloomberg reported today that China, historically a large aluminum exporter and the source of about 50% of all aluminum produced globally, is shifting into import mode.

  • The New Coal Miner Pitch: Don’t Mention Coal
    Bloomberg

    The New Coal Miner Pitch: Don’t Mention Coal

    (Bloomberg Opinion) -- Gray? Try “steel-colored.” Angular? You must mean “steel-inspired.” I’m referring, of course, to the new logo of the rechristened Arch Resources Inc.The old logo, with its stylized fragment of St Louis’ Gateway Arch, was fine — apart from the fact that it had the word “coal” in it. Arch Coal, the company’s old name, was a mite too connected with a certain fuel that is not only in terminal decline in the U.S. but also rather unpopular with the ESG crowd.When Arch Coal was formed in 1997, America’s power stations were burning 900 million tons a year, generating more than half the country’s electricity, and climbing. Today, thermal coal accounts for less than a fifth of the mix:Remarkably, in announcing its name change this week, Arch pulled a Voldemort with the word “coal”: It doesn’t appear anywhere in the main body of the press release(3). This is doubly impressive when you consider Arch Resources will in fact continue to mine prodigious quantities of ... well, you know. Thingy.Only Arch is now focused on a different class of thingy. Metallurgical coal is thermal coal’s more prosperous sibling, a vital ingredient for making steel; hence Arch’s steely new logo. Except Arch refers to these black rocks dug out from the ground not as metallurgical coal but as metallurgical products.Corporate rebranding tends to offer a rich seam of material, but Arch’s new name is actually a logical progression in a logical strategy.Ever since the miner emerged from chapter 11 in 2016, its approach has been one long tacit acknowledgement that the U.S. thermal coal industry is in a downward spiral. That business has essentially been run for cash, with capex running at just 70% of depreciation, and the company’s Powder River Basin assets are about to be subsumed into a joint venture with Peabody Energy Corp. The more profitable metallurgical business, meanwhile, is expanding, with a major new project in West Virginia underway. Most importantly, though, for every dollar Arch has invested back into the business, it’s spent about $1.60 on stock buybacks, taking in 40% of the shares(1) . This is how you head into the sunset.So the new name and Terminator-esque logo aren’t just some branding consultant’s WFH project. It’s the latest step in Arch’s quest to carve out a new life after death. For example, see this from the announcement:We expect steel to play an essential role in the revitalization of the global economy as it recovers from the disruption of the COVID-19 pandemic, and in the construction of a new economy supported by mass transit systems, wind turbines and electric vehicles.See? No mention of coal, but a cameo by wind turbines, no less (ah, the irony). Mad Men’s Don Draper once pitched Bethlehem Steel on advertising itself as producing the building blocks of America’s great cities. In real life, Arch would like you to know it mines the building blocks that go into making those building blocks.On one level, that’s par for the course. Any commodity producer would like you to associate their otherwise standard product with something more exceptional and valuable; similar thinking underlay Arconic Corp.’s split from aluminum smelter Alcoa Corp. Metallurgical coal may be higher-margin, but it remains a commodity, with all the volatility that entails; the stock has halved so far this year(2). Far better to focus minds on something more stable, like a T-bar.In this case, though, there’s a bigger drama playing out, and the wind turbine is the key character. While Arch’s announcement lacked “coal,” it provided my annual quota of “environmental, social and governance” mentions in the space of a few minutes. Arch is still running its thermal coal mines and likely will for as long as they spit out cash. But competition from cheap shale gas and renewable energy has made thermal coal a tough sell to investors already. Now climate change is making it altogether taboo — regardless of how efficient the miner — as ESG considerations gain traction.The ongoing  rebranding of Big Oil as Big Energy reflects similar dynamics. As the function of energy markets shifts from simply producing ever more tons or barrels or whatnot to optimizing supply, demand and emissions, so the expectations of the capital markets shift, too.  The multiple that makes a stock price is ultimately just some narrative about the future expressed as a number (for an extreme example, see Tesla Inc.). It isn’t just that Arch’s old story no longer convinces; it’s increasingly unacceptable and thereby a burden on, rather than a boost to, value. Becoming truly steel-inspired requires being a touch coal-amnesic.(1) You'll find a couple of instances further down in the safe-harbor language, but who reads that? Of course we all read that.(2) All figures are aggregated for the period 2017 through the first quarter of 2020.(3) Amove of just $25 a ton in the price of metallurgical coal is enough to swing Arch’sEbitda by $175 million, as per Arch Resources' investor presentation on May 15, 2020. Data are pro-forma for the start up of the Leer South project in West Virginia.This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Liam Denning is a Bloomberg Opinion columnist covering energy, mining and commodities. He previously was editor of the Wall Street Journal's Heard on the Street column and wrote for the Financial Times' Lex column. He was also an investment banker.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Why Dow, Alcoa, and Freeport-McMoRan Stocks Are All Hopping Today
    Motley Fool

    Why Dow, Alcoa, and Freeport-McMoRan Stocks Are All Hopping Today

    The optimism has spilled over from the biotech sector, too, to infect (in a good way) stocks as far away as the basic materials sectors of chemicals (Dow Chemical (NYSE: DOW) up 9.4% in 1:45 p.m. EDT trading), copper (Freeport-McMoRan (NYSE: FCX) up 8.4%), and aluminum, too, with Alcoa (NYSE: AA) shares up an astounding 16.3%! After all, it was only four days ago that Alcoa CEO Roy Harvey told Bloomberg that Alcoa lacks "the clarity [or] the orders on the books, to signal that there is a definitive recovery coming."

  • Alcoa to Participate at Bank of America Securities 2020 Global Metals, Mining & Steel Conference
    Business Wire

    Alcoa to Participate at Bank of America Securities 2020 Global Metals, Mining & Steel Conference

    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 virtual question and answer session at the Bank of America Securities 2020 Global Metals, Mining & Steel Conference on Thursday, May 14, 2020.

  • Why Alcoa Stock Jumped 32% in April
    Motley Fool

    Why Alcoa Stock Jumped 32% in April

    The aluminum company saw a big rebound in April, but it doesn't make up for the even bigger losses it's seen this year.

  • Alcoa Corporation Reports First Quarter 2020 Results
    Business Wire

    Alcoa Corporation Reports First Quarter 2020 Results

    Alcoa Corporation (NYSE: AA), a global leader in bauxite, alumina, and aluminum products, today reported first quarter 2020 results.

  • Alcoa Announces Change to a Virtual Meeting Format for 2020 Annual Meeting of Stockholders
    Business Wire

    Alcoa Announces Change to a Virtual Meeting Format for 2020 Annual Meeting of Stockholders

    Alcoa Corporation, a global leader in bauxite, alumina, and aluminum products, today announced a change in the format of its Annual Meeting of Stockholders ("Annual Meeting") from in-person to virtual-only. Due to the public health impact of the coronavirus (COVID-19) pandemic and to support the health and well-being of our stockholders, employees, and their families, the Company will hold its Annual Meeting in a virtual meeting format only, via webcast. As previously announced, the Annual Meeting will be held on Wednesday, May 6, 2020 at 10:00 a.m. EDT.

  • Canned Food Sprees Won’t Save Aluminum
    Bloomberg

    Canned Food Sprees Won’t Save Aluminum

    (Bloomberg Opinion) -- Aluminum isn’t the worst-performing base metal this year, an honor that goes to copper. Yet that’s only because it had less far to fall: Demand was ailing well before the coronavirus forced some three billion people to stay home. Add the near-total shutdown of the world’s auto and aviation industry, crunching more than a third of demand, and the lightweight metal is fast heading for levels last seen during the global financial crisis. That should translate into some of the mining industry’s deepest cuts as the pandemic forces producers such as Alcoa Corp. and Rio Tinto Group to take long-overdue decisions.Aluminum is a serial underperformer, having racked up the biggest real losses for any base metal since 1913, according to Bloomberg Intelligence. Demand has slowed for a decade, and a surplus was expected this year even before the current crisis. Prices have declined for eight consecutive weeks to below $1,500 per metric ton. That’s made most of the world’s production unprofitable.The metal has never been good at responding fast to a changing market. That’s partly because it’s inexpensive to mine the raw material bauxite. At the same time, smelters that produce aluminum metal from its oxide are slow and expensive owing to fixed costs such as power. As a result, the industry is still working through the stockpile accumulated during the last crisis. In this context, it’s less surprising that China’s aluminum production increased in the first two months of the year.The scale and speed of the demand drop caused by the coronavirus will test the industry’s elasticity. Aircraft makers are pondering production cuts, while automakers have shut down from Japan to Germany. The premium paid by Japanese buyers over the London Metal Exchange price is at its lowest in over three years. Car sales in locked-down economies have dropped by around 80%. Other sources of demand, like machinery, have been little better. While shoppers have hoarded canned food, this accounts for a small fraction of aluminum usage.Analysts at BMO LLC estimated late last month that worldwide primary aluminum demand could fall 6% in 2020 from a year earlier — similar to 2008, but larger in absolute volume terms. That’s not the steepest estimate out there, yet they suggest it already entails an unsustainable surplus of 4.2 million tons, roughly 5% of global demand. Aluminum giants cut back during the global financial crisis, and a few years later in 2015, when cheap Chinese metal flooded the market. China won’t help much to soften the blow this year, even when the full extent of Beijing’s stimulus plan is unveiled. In 2009, when consumption dropped 17% outside China, it rose 15% inside the country, according to a Boston Consulting Group report. This time, even Chinese appetite could take years to recover fully.There are some welcome signs of realism. Norsk Hydro ASA said last week it would postpone the restart of its Husnes plant. Analysts at CRU Group estimate some 365,000 tons of Chinese capacity has already been taken out. More should be on the way, even if low-cost production from the likes of China Hongqiao Group Ltd. is spared: Russian giant United Co. Rusal estimated in mid-March that at prices below 13,000 yuan ($1,830) per metric ton, more than a quarter of China’s smelters, equivalent to 10 million tons of annual capacity, were losing money. Less environmentally friendly operations will suffer disproportionately.Rio Tinto, meanwhile, had already been reviewing its Tiwai Point smelter in New Zealand and its ISAL smelter in Iceland, and now needs to think hard about the capital allocated to its least profitable division.All of those cuts and more will be needed, especially if demand weakness lingers. BMO forecasts 4.2 million tons per year of idled capacity by the third quarter, rising to 10 million tons by 2025. There are plenty of unknowns, from how long the downturn lasts to the level of demand from traders seeking to bet on stronger markets down the road. For now, absent a significant reduction to supply, it’s hard to see anything but a dim future.This column does not necessarily reflect the opinion of Bloomberg LP and its owners.Clara Ferreira Marques is a Bloomberg Opinion columnist covering commodities and environmental, social and governance issues. Previously, she was an associate editor for Reuters Breakingviews, and editor and correspondent for Reuters in Singapore, India, the U.K., Italy and Russia.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Alcoa Schedules First Quarter 2020 Earnings Release and Conference Call
    Business Wire

    Alcoa Schedules First Quarter 2020 Earnings Release and Conference Call

    Alcoa Corporation, a global leader in bauxite, alumina, and aluminum products, plans to announce its first quarter 2020 financial results on Wednesday, April 22, 2020 after the close of trading on the New York Stock Exchange.

  • Did You Manage To Avoid Alcoa's (NYSE:AA) Devastating 79% Share Price Drop?
    Simply Wall St.

    Did You Manage To Avoid Alcoa's (NYSE:AA) Devastating 79% Share Price Drop?

    As an investor, mistakes are inevitable. But really big losses can really drag down an overall portfolio. So spare a...

  • Trump’s Tariffs Haven’t Rescued American Steel
    Bloomberg

    Trump’s Tariffs Haven’t Rescued American Steel

    (Bloomberg Opinion) -- It’s been almost two years since President Donald Trump announced, on March 1, 2018, that he would be imposing a 25% tariff on steel imports to the U.S. and 10% on aluminum. “We must not let our country, companies and workers be taken advantage of any longer,” he tweeted at the time.The tariffs exempted a few countries to start, and were rolled back last May for products from Canada and Mexico, but otherwise still stand. Things have gone pretty well for the country in the meantime. For companies and workers in the U.S. steel and aluminum industries, not so much. U.S. Steel Corp.’s share price, for example, closed at its highest level in almost seven years on the day the tariffs were announced. It has since declined 80%.Not every steel and aluminum manufacturer’s stock chart makes this point quite so perfectly. The biggest U.S. steel producer, mini-mill operator Nucor Corp., saw its stock price peak in January 2018, not March, and it’s down a mere 31% since then. At the biggest U.S. aluminum producer, Alcoa Corp., the stock peaked in April 2018 and is down 74% since. Those are still sharp declines amid a generally rising stock market, though, and I was unable to find a single publicly traded U.S. steel or aluminum maker that hasn’t experienced something similar since early or mid-2018.As for the workers, primary metals manufacturers did keep adding jobs for the rest of 2018. But they began shedding them last April and now employ fewer people than when the tariffs were announced.As described in detail in the current Bloomberg Businessweek, the tariffs have directly harmed some U.S. steelmakers that depend on imported semi-finished steel slabs. For the most part, though, the industry’s troubles seem to be the product not of the metals tariffs but of a global industrial slump. The world’s biggest steelmaker, Luxembourg-based ArcelorMittal SA, has also experienced a big (45%) stock-price drop since mid-2018. Also, as someone who speculated back in March 2018 that the tariffs might help metals manufacturers at the expense of the much-larger industries that use that metal, I feel obliged to report that this doesn’t seem to have happened either, at least not in terms of employment.What does strike me, though, as I think of the industry sectors that President Trump has gone to bat for in a big way with tariffs and other forms of aid — metals makers, appliance manufacturers, coal miners, and oil and gas drillers sprang immediately to mind — is that hardly any of them have been having a great time of it lately, with all those I just named shedding jobs last year.(1) Meanwhile, the giant technology companies that have been recipients chiefly of the president’s ire keep chugging right along. The causes for these differing fortunes surely go way beyond White House policy, and it’s worth reiterating that the economy overall has been growing and creating jobs. But it does raise some questions about the president’s priorities.There is an unkind saying about Trump to the effect that everything he touches dies, a reference to the many past business failures with which he has been associated. It’s not entirely true — the Manhattan real estate business is still quite alive, despite his continued involvement in it — and the direction of causality isn’t always clear. With Trump’s economic interventions, maybe it’s just that the man is drawn to things that have their glory days behind them (like golf!). As someone who chose to pursue a career in journalism, I cannot help but have some sympathy with this worldview. But nostalgia seems like a counterproductive motivation for industrial policy. Picking winners is hard enough for a government to do successfully, but you’re stacking the deck against yourself if you focus most of your attention on the losers.On Tuesday, the president seemed to change his tune a bit on big tech, celebrating the stock-market gains of the “trillion-dollar club” of Google-parent Alphabet Inc., Amazon.com Inc., Apple Inc. and Microsoft Corp. I wouldn’t make too much of that — on the same day the Federal Trade Commission, controlled by Trump appointees, ordered those four companies plus Facebook Inc. to cough up details of past acquisitions for an investigation that might eventually lead to antitrust action. But if Trump ever decides to help the tech giants, look out. A clearer sell signal would be hard to imagine.(1) According to the Bureau of Labor Statistics, there was an increase in employment in oil and gas extraction over the course of 2019, but an even bigger decrease in employment in "support activities for oil and gas extraction."To contact the author of this story: Justin Fox at justinfox@bloomberg.netTo contact the editor responsible for this story: Stacey Shick at sshick@bloomberg.netThis column does not necessarily reflect the opinion of Bloomberg LP and its owners.Justin Fox is a Bloomberg Opinion columnist covering business. He was the editorial director of Harvard Business Review and wrote for Time, Fortune and American Banker. He is the author of “The Myth of the Rational Market.”For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • The Truth About Market Timing - February 06, 2020
    Zacks

    The Truth About Market Timing - February 06, 2020

    In the long-run, does consistent market timing really matter to be a successful investor?