Alcoa price target raised to $36 from $20 at B. Riley » 08:1704/1604/16/21
B. Riley analyst Lucas…
Alcoa price target raised to $38 from $36 at BMO Capital » 07:3404/1604/16/21
BMO Capital analyst David…
Bausch Health says VYZULTA 0.024% now approved in Brazil » 07:0204/1604/16/21
Bausch Health, Bausch +…
Bausch Health, Bausch + Lomb, and Nicox announced that VYZULTA 0.024%, has received regulatory approval from the Brazilian Health Regulatory Agency.
Fly Intel: After-Hours Movers » 18:1004/1504/15/21
PPG, AA, JBHT, MTSL, LSCC, PGNY, UFS, DKNG, ARRY, PTC, WAL, MRTN, PHX, CMMB, SPNE
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Alcoa jumps 2% to $33.50 after Q1 earnings beat 16:2204/1504/15/21
Alcoa reports Q1 adjusted EBITDA $521M, up 44% from Q4 » 16:1504/1504/15/21
Reports Q1 Alumina…
Reports Q1 Alumina production 3,327kmt vs. 3,298kmt last year and primary aluminum production 548kmt vs. 564kmt last year.
Alcoa expecting strong 2021 on continued economic recovery » 16:1304/1504/15/21
The company states:…
The company states: "Alcoa is expecting a strong 2021 based on continued economic recovery and increased demand for aluminum in all end markets. The Company's Aluminum segment is forecasting double digit growth on year-over-year sales of value-add products. In the first quarter of 2021, shipments for value-add products, which includes specific shapes and alloys such as billet, slab, foundry and rod, increased 10 percent sequentially, posting three consecutive quarters of improvement. The Company's 2021 shipment outlook for Bauxite and Aluminum remains unchanged from the prior full-year estimates. Total alumina shipments are expected to increase 100 thousand metric tons to between 14.0 and 14.1 million metric tons. Total annual bauxite shipments are expected to range between 49.0 and 50.0 million dry metric tons. The Aluminum segment is expected to ship between 2.7 and 2.8 million metric tons. In the second quarter of 2021, Alcoa expects another strong quarter despite the absence of the Warrick rolling mill results, current energy market conditions, and seasonal maintenance typically higher in the second quarter than other quarters. Based on current alumina and aluminum market conditions, the Company expects second quarter tax expense to approximate $90 million, which may vary with market conditions and jurisdictional profitability. The COVID-19 pandemic is ongoing, and its magnitude and duration continue to be unknown. The uncertainty around its future impact on the Company's business, financial condition, operating results, and cash flows could cause actual results to differ from this outlook."
Alcoa says company capturing benefits of improved demand, stronger prices » 16:1204/1504/15/21
CEO Roy Harvey says:…
CEO Roy Harvey says: "We had an excellent first quarter with our best quarterly result since a record-setting year in 2018. We excelled from the top line to the bottom line, controlling production costs and capturing the benefits of improved demand and stronger prices for alumina and aluminum. In addition to exceptional operating performance, we made the Company even stronger this quarter by improving the balance sheet," Harvey said. "Using cash on hand and the proceeds from our debt issuance with our lowest-ever coupon rate, we paid off higher-interest rate notes in April and funded more of our pension obligations. This provides even greater flexibility to execute on our long-term strategy in the years ahead. Our teams have demonstrated relentless discipline to ensure we are ready for whatever the markets may bring. We've proven we can operate during uncertain times, and we're well positioned for the future with excellent environmental, social and governance practices and a low-carbon product portfolio that is the industry's most comprehensive."
Alcoa reports Q1 adjusted EPS 79c, consensus 46c » 16:1004/1504/15/21
Reports Q1 revenue…
Reports Q1 revenue $2.87B, consensus $2.65B.
Alcoa options imply 9.2% move in share price post-earnings » 14:4904/1504/15/21
Pre-earnings options volume in Alcoa is 1.4x normal with calls leading puts 9:2. Implied volatility suggests the market is anticipating a move near 9.2%, or $3.03, after results are released. Median move over the past eight quarters is 5.7%.