18.10 +0.05 (0.27%)
After hours: 4:26PM EDT
|Bid||18.00 x 800|
|Ask||18.05 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|
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.
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.
(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 email@example.com;Anne Riley Moffat in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Kevin Miller at email@example.com, 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 (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?
On Wednesday, Alcoa is scheduled to release its second-quarter earnings after the markets close. So far, 2019 hasn't been a good year for Alcoa investors.
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.
Alcoa Corporation, a global leader in bauxite, alumina, and aluminum products, today announced that it has signed a conditional share purchase agreement with private equity investment firm PARTER Capital Group AG, based in Schindellegi, Switzerland, to acquire the Alcoa Avilés and La Coruña aluminum plants in Spain. Alcoa has reached an agreement with the workers’ representatives relating to a transaction between the Company and PARTER Capital Group AG. Alcoa reached an agreement in January 2019 with the workers’ representatives at the two aluminum plants as part of the collective dismissal process announced in October 2018.
Alcoa Corporation, a global leader in bauxite, alumina, and aluminum products, announced that the Aluminerie de Bécancour Inc. (ABI) smelter plans to restart curtailed smelting capacity after members of the United Steelworkers union in Québec, Canada today approved a six-year labor agreement. The smelter, owned by Alcoa (74.95%) and Rio Tinto Alcan Inc. (25.05%), has total annual capacity of 413,000 metric tons per year. Salaried employees had operated one of three potlines during the lockout, until Alcoa announced an additional curtailment of one half of that potline on December 19, 2018.
Alcoa Corporation plans to announce its second quarter 2019 financial results on Wednesday, July 17, 2019 after the close of trading on the New York Stock Exchange.
Alcoa Corporation, a global leader in bauxite, alumina, and aluminum products, today announced that the management of the Aluminerie de Bécancour Inc. (ABI) smelter in Québec, Canada has presented a final offer to the United Steelworkers for a new labor contract. The smelter, which is owned by Alcoa (74.95%) and Rio Tinto Alcan Inc. (25.05%), has been operating at reduced capacity since January 11, 2018, after union members rejected a proposed labor contract for hourly employees.
Alcoa Corporation, a global leader in bauxite, alumina, and aluminum products, today announced that it has amended its joint venture with the Saudi Arabian Mining Company (Ma’aden) in which Alcoa holds a minority, 25.1 percent stake.
It would be fair to say that the Section 232 exemptions were an enabler in Mexico ratifying the USMCA. The Trump administration has also tried to put some safeguards in place so that imports from Canada and Mexico don’t surge after the exemption. While these measures look positive, steel imports from Canada and Mexico could still rise.
Does Alcoa's Risk-Return Profile Look Favorable Now?AlcoaLeading US-based aluminum producer Alcoa (AA) has seen a selling spree this year, losing 18.5% of its market cap.Alcoa isn’t the only metals and mining stock to underperform the broader
Small-caps and large-caps are wildly popular among investors, however, mid-cap stocks, such as Alcoa Corporation...