US Stock Futures Edge Lower With CPI Data Set to Offer More Rate Cues
US stock index futures fell slightly in evening deals on Wednesday, cooling after a recent rally on Wall Street as focus turned towards upcoming inflation data to set the stage for interest rate cuts by the Federal Reserve.
Alcoa Sees 2Q Alumina Production Down, Higher Aluminum Shipments -- Commodity Comment
By Matt Walker Alcoa Corporation released preliminary second-quarter expectations on Wednesday, and sees lower alumina production and higher aluminum shipments for that period. On production:
Alcoa Expects Swing to 2Q Profit Despite Lower Production, Drop in Shipments
By Connor Hart Alcoa expects to swing to a second-quarter profit as higher average third-party prices offset a decrease production and lower alumina shipments. The Pittsburgh-based producer of
Express News | Alcoa Shares up 3% After the Bell Following Prelim Results
Alcoa Shares Rise After-Hours After Reporting Preliminary Q2 Results
Alcoa (AA) reported late Wednesday preliminary Q2 adjusted EPS of between $0.08 and $0.19.Analysts polled by Capital IQ expect $0.06.The company also reported preliminary Q2 revenue of between $2.850
GUIDANCE: (AA) ALCOA Preliminary Q2 2024 Revenue Range $2.85B - $2.93B
04:21 PM EDT, 07/10/2024 (MT Newswires) -- GUIDANCE: (AA) ALCOA Preliminary Q2 2024 Revenue Range $2.85B - $2.93
Alcoa Preliminary 2Q Alumina Production Is Expected to Decrease Approximately 5% Sequentially >AA
Alcoa Preliminary 2Q Alumina Production Is Expected to Decrease Approximately 5% Sequentially >
Alcoa Shares Are Trading Higher After the Company Issued Strong Preliminary Q2 Results.
Alcoa Shares Are Trading Higher After the Company Issued Strong Preliminary Q2 Results.
Express News | Alcoa Shares Are Trading Higher After the Company Issued Strong Preliminary Q2 Results
Express News | Alcoa Sees Prelim. Q2 Adj. EPS $0.08-$0.19 Vs $0.01 Est., Revenue $2.85B-$2.925B Vs $2.81B Est
Express News | Alcoa Corp Q2 Shr View $0.06, Rev View $2.80 Bln -- LSEG IBES Data
Express News | Alcoa Corp: Prelim Q2 Adjusted Income per Share $0.08 - $0.19
Express News | Alcoa Corp: Prelim Q2 Revenue $2,850 Mln - $2,925 Mln
Alcoa Corporation Releases Preliminary Second Quarter 2024 Results
Alcoa Corporation (NYSE: AA) today released preliminary second quarter 2024 results ahead of its Special Meeting of Stockholders to be held on July 16, 2024 in connection with its announced acquisition of Alumina Limited.
Alcoa 2Q Adj EBITDA $310M >AA
Alcoa 2Q Adj EBITDA $310M >
Alcoa (AA) May Report Negative Earnings: Know the Trend Ahead of Next Week's Release
Zhongtai Securities: The slowdown of the US economy continues to boost the upward momentum of the nonferrous metals sector.
This week, the overall US economic data fell, and the expectation of interest rate cuts rose again, supporting the rise of metal prices. In the medium to long term, the actual yield of US long-term bonds is at a historical high of about 2%, and the US economic upward risk is relatively low under high interest rates. With the reshaping of the global credit pattern, the price of metals will rise to new heights.
Bet on the Alcoa Stock Bounce
Jefferies Financial predicts a surge in copper and aluminum prices, and recommends mining stocks such as Aluminum Corp of America (AA.US) and Glencore (GLNCY.US).
According to analysts at Jefferies Financial on Monday, they have made an optimistic market prediction, believing that copper and aluminum prices are expected to rise in the medium term. This expectation is based on the growth of electrification demand, global economic recovery, and limitations on supply. Based on these factors, analysts recommend that investors consider purchasing stocks of leading producers in the copper and aluminum industries, particularly recommending Alcoa (AA.US) and Glencore (GLNCY.US). The investment bank is cautiously optimistic about mineral product prices in the second half of this year and plans to rely on the Purchasing Managers Index (PMI) for global manufacturing to make projections.
Aluminum oxide prices have risen to a two-year high, and China's aluminum oxide industry is actively increasing production.
Aluminum oxide prices reached $510 per ton, hitting a two-year high. The price increase has stimulated aluminum oxide production in China, with new projects in Shandong, Chongqing, Inner Mongolia, and Guangxi to be put into operation in the second half of this year. Chinese aluminum oxide producers are increasing production to seize this opportunity of high stock prices.