BALTIMORE, May 23, 2024 (GLOBE NEWSWIRE) -- Lawsuits have been filed alleging that a number of large corporate employers have offloaded billions of dollars in pension obligations to Athene Annuity and Life Company and/or Athene Annuity & Life Assurance Company of New York, subsidiaries of Athene Holding Ltd. (collectively, "Athene") in violation of ERISA. In addition to AT&T Inc. (NYSE:T), Lockheed Martin Corporation (NYSE:LMT), and Alcoa Corporation (NYSE:AA), against which lawsuits have already been filed ...

Alcoa Corporation Conference Call Summary Company Overview - Alcoa Corporation is a global pure play upstream aluminum company with operations in 27 locations across six continents, focusing on two business segments: alumina and aluminum [2][3] Key Developments - Alcoa announced a proposed acquisition of Alumina Limited, aiming for 100% ownership of the AWAC joint venture, with an equity value of approximately $2.2 billion and a premium of 13.1% to Alumina Limited's share price [4][5] - The acquisition is expected to enhance Alcoa's vertical integration across the aluminum value chain, providing stability throughout commodity cycles [5][10] Financial Metrics - In 2023, Alcoa reported production of 41 million metric tons of bauxite, 10.9 million metric tons of alumina, and 2.1 million metric tons of aluminum [5] - The transaction will simplify governance and operational flexibility, increasing Alcoa's economic interest in core Tier 1 assets [10][11] Strategic Priorities - Alcoa's strategic priorities include reducing complexity, driving returns for stockholders, and advancing sustainability [3] - The company maintains a strong balance sheet with investment-grade metrics, allowing for self-funding of capital requirements and technology development projects [6] Market Outlook - The near-term outlook for alumina prices is positive, reaching a two-year high of $423 per ton, driven by steady demand and supply concerns [17] - Aluminum prices have recently hit their highest level in a year, with strong demand in automotive and electrical sectors, although building construction remains challenged [18] Risks and Challenges - The Alumar restart has faced delays due to equipment reliability and personnel experience issues, while the San Ciprián site is under review for long-term viability or potential sale [15][16] - Political risks and trade uncertainties are increasing, impacting supply chains, but Alcoa has managed to navigate these challenges due to its global diversity [22][23] Sustainability Initiatives - Alcoa is focused on developing low-carbon and recycled content products, with ongoing R&D projects aimed at reducing carbon emissions and improving efficiency [6][9] - The company recognizes the growing importance of secondary aluminum demand and is exploring ways to participate in this market [30] Conclusion - The acquisition of Alumina Limited is seen as a strategic move to enhance Alcoa's position in the aluminum market, providing immediate value for shareholders and aligning interests [12][11] - Alcoa remains committed to long-term growth and sustainability, with a positive outlook for both alumina and aluminum markets [20][21]

The materials sector, which encompasses companies producing raw materials and basic resources, has recently been on a rollercoaster ride. While the sector benefited from the post-pandemic economic recovery and increased demand for commodities, the tides have started to turn for these materials stocks to sell.As we traverse through May, several warning signs are flashing red for materials stocks. Firstly, interest rates have reached record highs, with the Federal Reserve not backing down on lowering rates fo ...

Alcoa Corp (NYSE:AA) stock is down 3.1% to trade at $36.41 at last check, looking to snap a four-day win streak as it pulls back from an April 29, 52-week high of $38.20. The 40-day moving average and $34 region contained this recent pullback, however, and the shares now look ready to bounce, according to a historically bullish signal.Specifically, the equity's recent peak comes amid historically low implied volatility (IV), which has been a bullish combination for Alcoa stock in the past. According to data ...

Key PointsDespite recent disappointing economic data, the metals sector is quickly becoming a breakout story. Regarding stock selection, investors should keep double-digit EPS growth front and center. Three stocks stand out with their bullish price action and EPS projections justifying their premium valuations.5 stocks we like better than AlcoaThe U.S. economy is pivoting into a new path for the year. After briefly jumping into its first expansionary reading in more than a year and a half, the ISM manufactu ...

For the Quarterly Period Ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____ to _____ UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 1-37816 ALCOA CORPORATION (Exact name of registrant as specified in its charter) Delaware (State or other jurisdiction of ...

Alcoa (AA) is one of the stocks most watched by Zacks.com visitors lately. So, it might be a good idea to review some of the factors that might affect the near-term performance of the stock.Shares of this bauxite, alumina and aluminum products company have returned +10.7% over the past month versus the Zacks S&P 500 composite's -2.5% change. The Zacks Metal Products - Distribution industry, to which Alcoa belongs, has gained 5.4% over this period. Now the key question is: Where could the stock be headed in ...

Alcoa Corp (NYSE:AA) stock is up 1.7% to trade at $35.86 this morning, after Morgan Stanley issued an upgrade to "equal weight" from "underweight," to go with a price-target hike to $36.50 from $28.50. The analyst in coverage praised  the aluminum producer's risk-reward backdrop, profitability, and potential upside stemming from the Inflation Reduction Act. Alcoa stock has spent most of April trading in a tight range, with its 20-day moving average containing any serious pullbacks. If the shares can ever ge ...

Steel stocks have been in focus this week as President Joe Biden has shifted focus to the industry. On April 17, the White House announced plans to enact further tariffs on Chinese-imported steel. In a move intended to safeguard domestic steel and shipbuilding interests from Chinese competitors, Biden is planning to triple the tariffs levied against steel and aluminum imported from China. He recently traveled to Pittsburgh and spoke at the United Steelworkers headquarters, laying out his plans for spurring ...

Key PointsAs China tariffs are proposed, the U.S. government is looking to onshore some steel and aluminum manufacturing stocks. Wall Street is well aware of a new manufacturing breakout in the economy. Three stocks stand out as top picks, with analysts and institutions behind them.5 stocks we like better than Industrial Select Sector SPDR FundA new business cycle is underway for the United States economy, and the manufacturing sector could be in play. This time, it isn't only Wall Street pushing the bets f ...