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Search resuls for: "Alcoa Corp"


14 mentions found


☆ The all-metal house that was once considered the future of American architecture
  + stars: | 2024-03-25 | by ( Chris Menrad | ) edition.cnn.com   time to read: +7 min
Now part of the permanent collection at the Palm Springs Art Museum, the story of Albert Frey’s “Aluminaire House,” and its significance in the history of architecture is quite remarkable. If you had never seen a modern house — and most Americans had not — it probably looked like a set for a science fiction movie. Even today, it looks “like it’s from another planet,” said Palm Springs Art Museum CEO Adam Lerner. After years of negotiations and fine-tuning the logistics, the Foundation donated Aluminaire House to the Palm Springs Art Museum in 2020, which subsequently raised $2.6 million to cover the cost of its rebuilding and future care. Reconstruction work underway on Frey's Aluminaire House at the Palm Springs Art Museum, pictured on January 10, 2024.
Persons: Albert Frey’s “, ”, Frey, Lawrence Kocher, . Frey, Kocher, Le Corbusier, Chris Menard, Aluminaire, Adam Lerner, Wallace K, Harrison, Jack Hobhouse, Joseph Rosa, Rosa, Michael Schwarting, Frances Campani, Schwarting, Campani, Ian L, Sitren, —, Leo Marmol, “ Organizations: CNN, Springs Art Museum, Contemporary, Architectural, Allied Arts Exposition, Bauhaus, Springs Art, New York Institute of Technology, Aluminaire Foundation, Foundation, ZUMA, Alcoa Corporation, Palm Springs Art Museum Locations: New York City, California, ”, Swiss, New York, French, Manhattan, Springs, Syosset , New York, Palm Springs , California, Islip, Schwarting, NYIT, Sunnyside , Queens, Palm, Palm Springs
☆ Alcoa to buy Australian partner Alumina in $2.2 billion all-stock deal
  + stars: | 2024-03-12 | by ( ) www.cnbc.com   time to read: +1 min
The Alcoa Corp. Kwinana Alumina Refinery in Kwinana, Australia, on Wednesday, Feb. 28, 2024. U.S. aluminum producer Alcoa made a $2.2 billion offer to acquire its Australian joint-venture partner Alumina Ltd. to consolidate ownership of key upstream assets with long-term demand for the metal forecast to rise. Alcoa will buy Alumina in an all-stock deal that values the Australian firm at $2.2 billion and make the U.S. company one of the world's largest producers of alumina and bauxite. Shares of Alumina rose as much as 10.4% after Alcoa announced the deal on Monday, hitting their highest since August 2023. Buying Alumina gives Alcoa full control of their joint venture, which is one of the world's largest producers of the semi-processed form of aluminum.
Persons: Alcoa Organizations: Alcoa Corp, Alcoa, U.S . Locations: Kwinana, Australia, U.S, China, United States
☆ Morgan Stanley fund manager names 4 top stocks to buy 'on the cheap’
  + stars: | 2023-12-04 | by ( Amala Balakrishner | ) www.cnbc.com   time to read: +4 min
That was exacerbated as interest rates went up," Aaron Dunn, portfolio manager at Morgan Stanley's U.S. Value Fund, told CNBC's "Street Signs Asia" on Friday. When pressed on what stocks make good plays, Dunn responded with four names, adding: "There's a lot of opportunities out there to pick up really good companies on the cheap." It made up 2.4% of his U.S. Value Fund as of Oct. 31. Dollar Tree Elsewhere, the value investor is bullish on value store, Dollar Tree , which made up almost 3% of the U.S. Value Fund holdings, as of Oct. 31. Year-to-date shares are now up nearly 1% but this is " well under its intrinsic value," Dunn said.
Persons: —, Aaron Dunn, CNBC's, Dunn, Morgan Stanley, – they've, Clorox Organizations: Morgan, Value, Agricultural, FMC Corporation, . Value, FMC, Alcoa Corp Aluminum, Alcoa, . Value Fund Locations: Morgan Stanley's, Alcoa, China
☆ UK's Smiths Group names Alcoa's Williams as next chair
  + stars: | 2023-05-10 | by ( ) www.reuters.com   time to read: +1 min
May 10 (Reuters) - British industrial technology company Smiths Group Plc (SMIN.L) on Wednesday named Steve Williams as its next chairman to succeed George Buckley, who is retiring at the end of the company's annual general meeting in November. UK-born Williams, who is currently chair of U.S. aluminum producer Alcoa Corporation (AA.N), started his career at ExxonMobil. His appointment at Smiths Group is subject to his election as non-executive director at the company's AGM. He will be appointed to the board as an independent non-executive director and as chair designate in September, Smiths Group said. Reporting by Yadarisa Shabong in Bengaluru; Editing by Rashmi AichOur Standards: The Thomson Reuters Trust Principles.
☆ Investors should own metals and mining stocks as commodities are the next sector to boom after China's reopening, Goldman Sachs chief equities strategist says
  + stars: | 2023-04-26 | by ( Morgan Chittum | ) www.businessinsider.com   time to read: +2 min
Goldman Sachs chief US equity strategist broke down the bull case for metal and mining stocks. David Kostin points to US companies that will benefit from demand driven by China's reopening. Goldman Sachs analysts forecast a 30% increased in the S&P GSCI, an index that broadly measures the performance of the commodities sector, within the next year. It's not just Kostin who is anticipating immense growth from China's reopening. The International Monetary Fund forecasts China will become the biggest driver of global economic growth over the next five years.
☆ Alcoa Fourth-Quarter Revenue Declines 20% on Lower Aluminum Prices
  + stars: | 2023-01-19 | by ( Denny Jacob | ) www.wsj.com   time to read: 1 min
Pittsburgh-based Alcoa said higher costs for raw materials, energy and production have persisted. Alcoa Corp. reported a 20% decline in revenue in the fourth quarter, citing challenging market conditions and lower prices for both alumina and aluminum. The Pittsburgh-based aluminum producer said sales decreased to $2.66 billion, from $3.34 billion. Analysts polled by FactSet expected $2.65 billion.
☆ Alcoa Appoints New CFO Amid Executive Reshuffle
  + stars: | 2023-01-11 | by ( Jennifer Williams-Alvarez | Colin Kellaher | ) www.wsj.com   time to read: +4 min
Alcoa Corp. named a new finance chief amid a wider executive reshuffle as the aluminum producer faces soaring energy costs and volatile prices. Ms. Beerman succeeds current CFO William Oplinger, who will become chief operations officer next month after about six years in the top finance role. In addition, two executive vice presidents—Chief Operations Officer John Slaven and Chief Innovation Officer Benjamin Kahrs —are leaving as part of the restructuring, Alcoa said. It will “ensure continued improvement and focus on Alcoa’s strategies to operate as a low-cost, margin-focused, sustainable producer,” Chief Executive Roy Harvey said in a statement. Newsletter Sign-up WSJ | CFO Journal The Morning Ledger provides daily news and insights on corporate finance from the CFO Journal team.
☆ Alcoa Names New Finance, Operations Chiefs in Management Shuffle
  + stars: | 2023-01-10 | by ( Colin Kellaher | ) www.wsj.com   time to read: +1 min
Alcoa Corp. on Tuesday unveiled an executive shake-up that includes the appointment of new chief financial and operations officers for the aluminum giant. The Pittsburgh, Pa.-based company said William Oplinger, currently executive vice president and chief financial officer, will become chief operations officer on Feb. 1, while Molly Beerman, currently senior vice president and controller, will become executive vice president and finance chief. PREVIEW Mr. Oplinger has been Alcoa’s chief financial officer since the separation of Alcoa Inc. into two separate companies in November 2016. Alcoa said a pair of executive vice presidents—Chief Operations Officer John Slaven and Chief Innovation Officer Benjamin Kahrs —are leaving as part of the restructuring. Alcoa said Renato Bacchi, currently executive vice president and chief strategy officer, will become chief strategy and innovation officer, taking on oversight of the company’s research-and-development technologies.
☆ Biden administration may block Russian aluminum imports
  + stars: | 2022-10-13 | by ( ) www.cnbc.com   time to read: +2 min
The Biden administration is weighing restricting imports of Russian aluminum as it charts possible responses to Moscow's military escalation in Ukraine, a person briefed on the conversations told Reuters. Rusal , the world's largest aluminum producer outside China, did not immediately reply to a Reuters' request for comment. Russian attacks using more than 100 missiles have killed at least 26 people across Ukraine since Monday, when Russian President Vladimir Putin ordered what he called retaliatory strikes against Ukraine for an explosion on a bridge. Shares of U.S.-based aluminum producer Alcoa Corp were last trading up 5.1% in New York, following the report. Shares of Rio Tinto Plc , which produces aluminum as well as iron ore, copper and other metals, fell about 1% on Wednesday in London.
☆ Wall St ends volatile day lower after Fed minutes, PPI
  + stars: | 2022-10-12 | by ( Caroline Valetkevitch | ) www.reuters.com   time to read: +3 min
The September meeting minutes also showed many Fed officials stressed the cost of not doing enough to bring down inflation. read moreThe market bounced around just after the open, with data earlier showing a surprise rise in September producer prices. The Labor Department's producer prices index rose 8.5% in the 12 months through September, slightly higher than an estimated 8.4% rise. The S&P 500 financial index (.SPSY) ended down 0.3%. The S&P 500 posted no new 52-week highs and 78 new lows; the Nasdaq Composite recorded 20 new highs and 433 new lows.
☆ U.S. may block Russian aluminum imports -source
  + stars: | 2022-10-12 | by ( Trevor Hunnicutt | ) www.reuters.com   time to read: +2 min
WASHINGTON, Oct 12 (Reuters) - The Biden administration is weighing restricting imports of Russian aluminum as it charts possible responses to Moscow's military escalation in Ukraine, a person briefed on the conversations told Reuters. Rusal (RUAL.MM), the world's largest aluminum producer outside China, did not immediately reply to a Reuters' request for comment. Russian attacks using more than 100 missiles have killed at least 26 people across Ukraine since Monday, when Russian President Vladimir Putin ordered what he called retaliatory strikes against Ukraine for an explosion on a bridge. Shares of U.S.-based aluminum producer Alcoa Corp (AA.N) were last trading up 5.1% in New York, following the report. Shares of Rio Tinto Plc (RIO.L), which produces aluminum as well as iron ore, copper and other metals, fell about 1% on Wednesday in London.
☆ U.S. considering complete ban on Russian aluminum -Bloomberg
  + stars: | 2022-10-12 | by ( ) www.reuters.com   time to read: +2 min
WASHINGTON, Oct 12 (Reuters) - The Biden administration is considering a complete ban on Russian aluminum in response to Russia's military escalation in Ukraine, Bloomberg reported on Wednesday. The White House is weighing an outright ban, raising tariffs to levels so punitive they would impose an effective ban, or sanctioning United Co Rusal International PJSC, the company that produces Russia's metal, Bloomberg said, citing unnamed people familiar with the decision-making. The Bloomberg report said the White House had held off sanctioning Russian aluminum at the start of the invasion out of fear it could disrupt global suppliers. There is no movement on this as of now," a White House official said in response to the report. Rusal (RUAL.MM), the world's largest aluminum producer outside China, did not immediately reply to a Reuters' request for comment.
☆ Wall St struggles to stay higher on rate-hike worries; Fed minutes awaited
  + stars: | 2022-10-12 | by ( Shreyashi Sanyal Ankika Biswas | Shreyashi Sanyal | Ankika Biswas | ) www.reuters.com   time to read: +4 min
SummarySummary Companies U.S. producer prices rise more than expected in SeptemberFOMC September meet minutes due at 2 p.m. The Labor Department's producer prices index rose 8.5% in the 12 months through September, slightly higher than an estimated 8.4% rise. In the afternoon, investors will scrutinize the Fed's September meeting minutes for more clarity on the central bank's rate hike trajectory. Investors also await the highly-anticipated consumer prices report on Thursday, which is expected to have picked up in September. Declining issues outnumbered advancers for a 1.45-to-1 ratio on the NYSE and advancers for a 1.22-to-1 ratio on the Nasdaq.
☆ With Interest Rates Rising, Companies Look to Unload Pension Liabilities
  + stars: | 2022-09-28 | by ( Jennifer Williams-Alvarez | ) www.wsj.com   time to read: +6 min
Rising interest rates are boosting corporate pension plans, providing finance chiefs with an option to lighten their companies’ balance sheets and transfer obligations to insurers. PREVIEWWhen interest rates rise, liabilities for defined-benefit plans—a type of pension plan that promises fixed amounts to participants—shrink. They can also move just a portion of their pension obligations, but that still requires a high funding status. “If interest rates level off or decrease, the funded status could fall pretty quickly,” said Matt McDaniel, a partner at Mercer who advises companies on pension risk transfers. Recent stock market declines have hurt some defined-benefit pension plans invested in publicly traded equities, Mr. McDaniel said.
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