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Stock Market & Financial Investment News

News Breaks
January 6, 2012
11:07 EDTAAEarnings Preview: Alcoa shares fall ahead of Q4 earnings report
Alcoa’s (AA) earnings report will unofficially kick off the Q4 earnings season on Monday, January 9 after the market close, with a conference call scheduled for 5:00 pm ET. Analysts are looking for EPS of 1c on revenue of $5.78B. The consensus range is (7c)-17c for EPS, and $5.46B-$6.16B for revenue, according to First Call. Alcoa posted mixed results in Q3, missing EPS but beating revenue estimates. On its Q3 earnings conference call, management said market fundamentals were holding up “relatively good” and they were “cautiously optimistic” on the aluminum market short term. They cited productivity improvements, but mentioned those were being offset by slow market conditions. On a negative note, both Jefferies and UBS lowered their Q4 EPS estimates in December, citing reduced aluminum prices and rising costs. The stock has traded slightly lower since Q3 results were released, falling approximately 9% from $10 to a recent $9.11. Mixed Q3 earnings, higher commodity costs, and uncertainty in Europe have contributed to the decline. It’s worth noting that twice in December, the shares bounced off their 12-month low of $8.45, and are down nearly 50% from their 52-week high of $18.47. As such, a wealth of bad news has been priced into the stock.
News For AA From The Last 14 Days
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March 6, 2014
10:51 EDTAAAlcoa downgraded to Hold from Buy at Standpoint Research
February 25, 2014
10:31 EDTAAAlcoa reaches power agreement with Quebec for smelters
Alcoa and the Government of Quebec have reached an agreement to improve the competitiveness of Alcoa’s three smelters in Québec, securing approximately 3,000 jobs, the company announced. Under the agreement, Hydro-Québec will renew Alcoa’s power supply contracts for the Becancour and Deschambault facilities until 2030 and for the Baie-Comeau plant through 2036. The agreement enables Alcoa to proceed with $250M of planned investments at the smelters over the next five years to further improve their competitiveness. As part of that investment, Alcoa will increase production of aluminum used for auto manufacturing and reduce production of commodity-grade aluminum at the Baie-Comeau casthouse to capture demand from automakers as they turn to aluminum for more fuel-efficient vehicles.
February 24, 2014
07:12 EDTAABMO Capital to hold a conference
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