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Top related persons:
Jennifer Granholm - 1 ” - 1 Kraft Heinz - 1 Bill Peterson - 1 Peterson - 1 Kaiser - 1 Constellium - 1 — CNBC's Michael Bloom - 1
Top related locs:
Ravenswood W.Va Alcoa China U.S Western Australia
Top related orgs:
Biden - 1 Energy - 1 JPMorgan - 1 Alcoa - 1 AA - 1 Midwest - 1

Search resuls for: "Constellium"


5 mentions found


☆ Energy Dept. Awards $6 Billion for Green Steel, Cement and Even Macaroni Factories
  + stars: | 2024-03-25 | by ( Brad Plumer | ) www.nytimes.com   time to read: +1 min
The Biden administration plans to spend up to $6 billion on new technologies to cut carbon dioxide emissions from heavy industries like steel, cement, chemicals and aluminum, which are all enormous contributors to global warming but which have so far been incredibly difficult to clean up. Energy Secretary Jennifer Granholm said Monday that her agency would partially fund 33 different projects in 20 states to test methods for curbing emissions from a wide variety of factories and industrial plants, calling it “the single largest industrial decarbonization investment in American history.”Constellium, an aluminum producer, would receive up to $75 million to build a first-of-a-kind aluminum casting plant in Ravenswood, W.Va., that can run on cleaner burning hydrogen fuels rather than natural gas. Kraft Heinz, a food manufacturer, would get up to $170.9 million to install electric boilers and heat pumps at 10 facilities across the country, where they would be used to generate the large amounts of heat needed for things like drying macaroni without directly burning fossil fuels.
Persons: Jennifer Granholm, ”, Kraft Heinz Organizations: Biden, Energy Locations: Ravenswood, W.Va
☆ JPMorgan downgrades this aluminum stock ahead of earnings
  + stars: | 2023-07-14 | by ( Alex Harring | ) www.cnbc.com   time to read: +2 min
Analyst Bill Peterson downgraded the stock to neutral from overweight and slashed his price target to $36 from $54 in the runup to its earnings report next week. Despite an approximately 90% correlation between Alcoa shares and aluminum prices over the past decade, Alcoa has underperformed the metal by 7% since April. Aluminum prices as a whole should also be cheaper than previously forecasted in both the fourth quarter and 2024, but may find support in the second half of next year as inventories thin out. Cost pressure could also remain into 2024 given the lower bauxite grade feed for refineries. As a group, Peterson said he remained constructive on aluminum stocks in the long term.
Persons: Bill Peterson, Peterson, Kaiser, Constellium, — CNBC's Michael Bloom Organizations: JPMorgan, Alcoa, AA, Midwest Locations: Alcoa, China, U.S, Western Australia
☆ This little-known aluminum products maker is too cheap to ignore and can rally nearly 40%, Credit Suisse says
  + stars: | 2023-02-23 | by ( Samantha Subin | ) www.cnbc.com   time to read: +1 min
Shares of aluminum company Constellium look too cheap to ignore, according to Credit Suisse. Analyst Curt Woodworth highlighted the firm's bull case for Constellium, saying in a Thursday note to clients that its $22 price target suggests shares could gain almost 40% from Wednesday's close. So far this year, the stock, which trades on the New York Exchange, has surged nearly 34%, after slumping 34% in 2022. CSTM YTD mountain Shares in 2023 While Constellium faces continued inflationary pressures, Woodworth highlighted his confidence in the company's management. "CSTM continues to execute well as evidenced by excellent price vs cost progression in 2022 and guidance for 2023 that was better than expected driven by some relief on energy prices and solid price actions achieved in 4Q," he wrote.
☆ Some Companies Band Together to Support Nascent Low-Carbon Products
  + stars: | 2022-11-21 | by ( Dieter Holger | ) www.wsj.com   time to read: +5 min
Global companies are combining their purchasing power to help commercialize low-carbon technologies as part of their efforts to meet net-zero commitments. One of the biggest corporate spending plans announced at the United Nations climate conference, known as COP27, was the First Movers Coalition. Its 65 member companies promise to collectively purchase $12 billion of nascent low-carbon products and services by 2030 to help suppliers develop their offerings and scale up. Once commitments are made, companies and suppliers meet regularly to share progress and work together. “Microsoft did not join [the First Movers Coalition] in Glasgow last year.
☆ From copper to cybersecurity, Goldman Sachs picks less obvious stocks to play the clean energy trend
  + stars: | 2022-10-24 | by ( Weizhen Tan | ) www.cnbc.com   time to read: +2 min
Goldman Sachs has identified four "critical" sectors in the clean energy market, beyond the usual suspects. They are: copper or aluminum, electricity transmission, semiconductors and cybersecurity. The bank's picks include: Copper and aluminum: Major U.S. copper producer Freeport-McMoRan , aluminum manufacturer Constellium . Electricity transmission: U.S. energy infrastructure firm Sempra Energy , Public Service Enterprise Group . In electricity transmission, the permitting stage alone can take up to a decade or longer, said Goldman.
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