Apr. 9, 2015, 2:27 PM
- Alcoa (AA -4%) remains sharply lower following mixed Q1 results and its expectations for global aluminum production to exceed demand by 326K metric tons in 2015, compared with its earlier forecast of a 38K ton deficit.
- Most analysts continue to keep the faith, defending their bullish stances even as they curb estimates: Citigroup reiterates its Buy rating, saying Q2 could be a tough quarter as the rolled-products businesses face headwinds but noting that Alcoa still expects to generate positive free cash flow of at least $500M in 2015 while growing its asset portfolio, and Sterne Agee is one of several firms to reaffirm a Buy rating as AA alters its cost structure and increases value-added products.
- BMO Capital is a voice of dissent, calling Q1 a good start for the company but seeing a challenging outlook ahead; it rates the stock Market Perform with a $14 target.
- Metal fabricator RTI International Metals (RTI -3.9%), which AA recently agreed to acquire, and aluminum producing peer Century Aluminum (CENX -5.4%) are both lower; also, KALU -1.5%, NOR -1.8%, ATI +0.3%.
- Earlier: Alcoa points to lower open after mixed Q1, but analysts still say Buy
Mar. 9, 2015, 12:45 PM
Mar. 9, 2015, 9:12 AM
Aug. 5, 2014, 12:47 PM
Apr. 11, 2013, 11:20 AM
Good news and (perceived) bad news from RTI International Metals (RTI -5%): the company raises Q1 guidance for operating income to between $14-16M on a $4M import duty recovery, but investors don't seem to like the announcement of a $250M offering of convertible debt due 2019.| Apr. 11, 2013, 11:20 AM
Feb. 7, 2012, 3:43 PM
RTI International Metal (RTI -11.1%) gets hammered after its Q4 results missed EPS estimates despite a 23% jump in Y/Y profit. Restructuring costs contributed to the shortfall as the company transitions to a fully-integrated end-to-end supplier of advanced titanium components, plus weakness in its fabrication unit due to third party material delivery delays which resulted in lower operating income.| Feb. 7, 2012, 3:43 PM
Jan. 10, 2012, 1:42 PM
RTI International Metals (RTI +10.9%) jumps after agreeing to buy Remmele Engineering for around $182M, in an effort to build up its offerings to the aerospace and defense markets and expand into the medical device sector.| Jan. 10, 2012, 1:42 PM
Dec. 29, 2011, 12:03 PM
Rare earths (REMX +0.8%) attempt a rebound from a two-day slide after China said it was cutting rare earth export quotas. Credit Suisse now says alterations in the way the figures were reported might’ve made changes seem severe, and forecasts China’s full-year 2012 rare earth exports to rise ~3%, in-line with previous expectations. RTI +2.2% and TC +0.9%, but MCP -2.3%.| Dec. 29, 2011, 12:03 PM | 2 Comments
Jul. 14, 2011, 11:27 AM