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AA

Alcoa

$31.51

0.14 (0.45%)

07:47
10/11/16
10/11
07:47
10/11/16
07:47

Alcoa reports Q3 Arconic segment revenue $3.4B, down 1% y/y

Reports Q3 Alcoa Corporation segment revenue $2.3B, flat sequentially. In spite of near-term market challenges, Arconic segments reported combined year-over-year profit growth, and Alcoa Corporation segments, Alumina and Primary Metals, maintained profitability sequentially despite continued low alumina and aluminum pricing by proactively managing costs and capacity. The Company's separation is scheduled to become effective before the opening of the market on November 1, 2016. "Alcoa steered steady and showed resilience in spite of near-term market challenges," said Klaus Kleinfeld, Alcoa Chairman and CEO. "Profits grew in the combined Arconic segments, and Alcoa Corporation segments managed successfully to stay profitable in a low pricing environment. Productivity across the portfolio was exceptional, and paired with non-essential asset sales, further strengthened our cash position. Arconic's results underline its strong position in higher margin markets where innovation, technology, process skills and cost focus pay off even under demanding circumstances, whereas Alcoa Corporation proved to be successful in spite of challenging market conditions. The strength of both future companies is the result of our multi-year strategy and allows us to launch two strong, independent entities."

  • 11

    Oct

AA Alcoa
$31.51

0.14 (0.45%)

05/23/16
BOFA
05/23/16
UPGRADE
BOFA
Buy
Alcoa upgraded to Buy from Neutral at BofA/Merrill
05/23/16
05/23/16
UPGRADE
Target $11

Buy
Alcoa upgraded to Buy from Neutral at BofA/Merrill
As previously reported, BofA/Merrill upgraded Alcoa to Buy from Neutral and raised its price target to $11 from $10.50. Analyst Timna Tanners said aluminum and alumina has become a lesser portion of Alcoa's earnings yet shares have become increasingly correlated to aluminum pricing while aerospace exposure now leaves it with an estimated 75% of its earnings levered to the segment. Tanners is confident in an upswing in aero-heavy downstream results and sees engine deliveries up 10% in 2016 and 18% in 2017. The analyst views the recent pullback in Alcoa shares as a buying opportunity given reduced commodity exposure and increased aero contribution.
09/09/16
GHSC
09/09/16
INITIATION
Target $11
GHSC
Neutral
Alcoa initiated with a Neutral at Seaport Global
Seaport Global analyst Josh Sullivan initiated Alcoa with a Neutral and $11 price target.
09/09/16
09/09/16
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. American Express (AXP) initiated with an Underweight at Atlantic Equities. 2. Alcoa (AA) initiated with a Neutral at Seaport Global. 3. Blue Buffalo Pet Products (BUFF) initiated with an Outperform at Oppenheimer. 4. Harley-Davidson (HOG) initiated with an Outperform at Bernstein. 5. Verifone (PAY) initiated with a Buy at BTIG. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

ANET

Arista Networks

$121.35

-1.27 (-1.04%)

11:07
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11:07
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Conference/Events
Arista Networks management to meet with Needham »

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FB

Facebook

$133.72

0.19 (0.14%)

11:06
02/22/17
02/22
11:06
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11:06
Hot Stocks
Instagram announces update allowing sharing of multiple photos in one post »

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WMAR

West Marine

$9.15

-0.01 (-0.11%)

11:06
02/22/17
02/22
11:06
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11:06
Conference/Events
West Marine management to meet with B. Riley »

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AAP

Advance Auto Parts

$157.00

-4.155 (-2.58%)

11:06
02/22/17
02/22
11:06
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11:06
Options
Advance Auto Parts call volume above normal and directionally bullish »

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AMTD

TD Ameritrade

$43.28

0.13 (0.30%)

11:05
02/22/17
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11:05
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Conference/Events
TD Ameritrade management to meet with William Blair »

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AMD

AMD

$14.00

0.87 (6.63%)

11:04
02/22/17
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11:04
Conference/Events
AMD management to meet with Canaccord »

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MOBL

MobileIron

$4.90

0.15 (3.16%)

11:04
02/22/17
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Hot Stocks
MobileIron forms Internet of Things division »

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  • 22

    Feb

MOBL

MobileIron

$4.90

0.15 (3.16%)

11:04
02/22/17
02/22
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11:04
Hot Stocks
MobileIron forms Internet of Things division »

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  • 22

    Feb

AMD

AMD

$14.00

0.87 (6.63%)

11:04
02/22/17
02/22
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11:04
Technical Analysis
AMD ticks fresh multi-year and 52-week high »

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MRVL

Marvell

$16.21

0.4 (2.53%)

11:04
02/22/17
02/22
11:04
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11:04
Conference/Events
Marvell management to meet with B. Riley »

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SQ

Square

$14.70

0.07 (0.48%)

, AAPL

Apple

$136.70

0.98 (0.72%)

11:02
02/22/17
02/22
11:02
02/22/17
11:02
Earnings
On The Fly: What to watch in Square earnings report »

Square (SQ) is scheduled…

SQ

Square

$14.70

0.07 (0.48%)

AAPL

Apple

$136.70

0.98 (0.72%)

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  • 22

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CWBC

Community West Bancshares

$10.13

0.0252 (0.25%)

11:02
02/22/17
02/22
11:02
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11:02
Hot Stocks
Community West Bancshares says CFO Baltuskonis to retire July 2017 »

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AFL

Aflac

$71.36

-0.06 (-0.08%)

11:02
02/22/17
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Conference/Events
Aflac management to meet with Sandler O'Neill »

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ARGS

Argos Therapeutics

$4.40

-0.3 (-6.38%)

10:56
02/22/17
02/22
10:56
02/22/17
10:56
Downgrade
Argos Therapeutics rating change  »

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CPB

Campbell Soup

$59.42

0.47 (0.80%)

10:56
02/22/17
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Hot Stocks
Campbell Soup CEO repeats plan to achieve $300M in cost savings by end of FY17 »

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  • 22

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TSO

Tesoro

$88.39

-0.69 (-0.77%)

10:56
02/22/17
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Options
Tesoro put volume heavy and directionally bearish »

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AMD

AMD

$14.00

0.87 (6.63%)

, INTC

Intel

$36.52

0.04 (0.11%)

10:53
02/22/17
02/22
10:53
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10:53
Periodicals
AMD looks to challenge Intel's PC processor dominance, FT says »

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AMD

AMD

$14.00

0.87 (6.63%)

INTC

Intel

$36.52

0.04 (0.11%)

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CEO

CNOOC

$121.51

-1.14 (-0.93%)

10:52
02/22/17
02/22
10:52
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10:52
Recommendations
CNOOC analyst commentary  »

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QVCA

Liberty Interactive

$19.71

0.41 (2.12%)

10:51
02/22/17
02/22
10:51
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10:51
Technical Analysis
Liberty Interactive spikes higher on very heavy volume »

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UAA

Under Armour

$22.25

0.47 (2.16%)

10:48
02/22/17
02/22
10:48
02/22/17
10:48
Options
Under Armour calls active as shares tick higher »

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EAT

Brinker

$42.55

-1.32 (-3.01%)

10:45
02/22/17
02/22
10:45
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10:45
Conference/Events
Brinker management to meet with Maxim »

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KR

Kroger

$33.05

-1.175 (-3.43%)

10:41
02/22/17
02/22
10:41
02/22/17
10:41
Options
Pre-earnings jitters in Kroger as shares slide »

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UNP

Union Pacific

$108.18

-1.495 (-1.36%)

10:39
02/22/17
02/22
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Hot Stocks
Breaking Hot Stocks news story on Union Pacific »

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ECPG

Encore Capital

10:38
02/22/17
02/22
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10:38
Periodicals
Cabot Credit considering London stock listing, Sky News reports »

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  • 23

    Feb

UNP

Union Pacific

$108.18

-1.49 (-1.36%)

10:38
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Hot Stocks
Breaking Hot Stocks news story on Union Pacific »

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