Core Viewpoint - Alcoa Corp's stock has experienced a decline of 3.8%, trading at $38.78, marking its third consecutive daily loss after a rally in early July that peaked at $43 [1] Group 1: Stock Performance - Alcoa's stock has dropped 8.3% this week and is approaching its +10% year-over-year level [1] - The stock is currently near a historically bullish trendline, which could indicate potential for recovery [1] Group 2: Technical Analysis - The stock's recent drawdown has placed it within one standard deviation of its 80-day moving average [1] - Historical data shows that after four similar signals in the past three years, the stock was higher after half of these occurrences, averaging a 9.1% gain over one month [1] Group 3: Short Interest and Analyst Sentiment - An increase in short interest of 2.4% in the last two reporting periods has resulted in 12.77 million shares sold short, representing 7.2% of the stock's available float [2] - Among the 10 analysts covering Alcoa, six have rated the stock as a "hold" or worse, indicating a potential sentiment shift that could impact stock performance [2]

Core Viewpoint - Alcoa (AA) is anticipated to report a year-over-year increase in earnings driven by higher revenues, with the earnings report set for July 17, 2024, being a significant factor for its stock price movement [1][2]. Revenue and Earnings Estimates - The company is expected to post a quarterly loss of $0.02 per share, reflecting a year-over-year change of +94.3% [2]. - Revenues are projected to reach $2.82 billion, marking a 5.2% increase from the same quarter last year [2]. Estimate Revisions Trend - The consensus EPS estimate has been revised 70.19% higher in the last 30 days, indicating a reassessment by analysts [3]. - The direction of estimate revisions may not always align with the aggregate change, highlighting the variability in analyst expectations [3]. Earnings Surprise Prediction - The Zacks Earnings ESP model indicates that the Most Accurate Estimate aligns with the Zacks Consensus Estimate, resulting in an Earnings ESP of 0% for Alcoa [4][6]. - The stock currently holds a Zacks Rank of 3, suggesting a neutral outlook [6]. Historical Performance - In the last reported quarter, Alcoa was expected to post a loss of $0.62 per share but actually reported a loss of $0.81, resulting in a surprise of -30.65% [8]. - Over the past four quarters, Alcoa has beaten consensus EPS estimates twice [8]. Conclusion - Alcoa does not appear to be a strong candidate for an earnings beat based on current estimates and historical performance, but other factors should also be considered when evaluating the stock ahead of its earnings release [9].

As the global economy faces numerous headwinds, including fluctuating commodity prices and economic uncertainty, certain materials stocks are increasingly risky investments. Here are three materials stocks to sell to reduce exposure to this market cyclicality.A number of headwinds are battering these materials stocks. Persistent inflationary pressures have led to elevated interest rates, which have a twofold impact on materials stocks. Higher rates increase borrowing costs for companies, squeezing profit ma ...

MADRID, SPAIN - JANUARY 26: The Secretary of State for Industry, Rebeca Torro, making a statement ... [+] after the meeting of the Alcoa monitoring committee, at the Ministry of Industry, on 26 January, 2024 in Madrid, Spain. (Photo By Gabriel Luengas/Europa Press via Getty Images)Europa Press via Getty ImagesAlcoa is expected to publish its Q2 2024 results around July 17, reporting on a quarter that saw aluminum prices pick up notably. Alcoa stock has fared well this year, rising by 17% since early January ...

Investors should take Wall Street's view of a particular sector or stock with a grain of salt, as there are typically conflicts of interest behind these views. Think about it: if an analyst working for an investment bank decides that a company's future is bearish, that analyst could risk losing his or her job over a particular stock's rating. Still, if that company is a significant client of another of the bank's branches, that analyst could risk losing his or her job over a particular stock's rating.Howeve ...

The S&P 500 continues to enjoy a solid run as the improving macro environment, coupled with the AI optimism and recent stock upgrades, provides solid support for risk assets.Last week, Goldman Sachs (NYSE:GS) increased its year-end forecast for the S&P 500 Index to 5,600, up from the previous target of 5,200.This revision by one of the most important financial institutions is attributed to robust earnings growth from five major U.S. technology companies and a higher projected fair value price-to-earnings ra ...

Are stocks set to rip higher in the second half of 2024? Or will investors be in for a nasty October surprise? Market timing is tricky at any time, but particularly at a time when a single data point can swiftly swing investor sentiment from positive to negative or vice versa. That may be of interest to traders. However, buy-and-hold investors tend to follow a different plan. And that plan frequently includes finding blue chip stocks under $100.  Blue-chip stocks can have their moment, but they’re generally ...

The Industrial Products group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Alcoa (AA) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? Let's take a closer look at the stock's year-to-date performance to find out.Alcoa is one of 222 individual stocks in the Industrial Products sector. Collectively, these companies sit at #3 in the Zacks Sector Rank. ...

Loading...Loading...Morgan Stanley analyst Carlos De Alba has upgraded Freeport-McMoRan Inc FCX, Alcoa Corp AA, and Compañía de Minas Buenaventura SAA BVN to Overweight, citing persistent copper supply challenges and positive developments within these companies.Freeport-McMoRanDe Alba upgrades Freeport stock to Overweight. He expects the company to benefit from higher copper and gold prices, with a 26% upside to a $62 price target. FCX's delivery of the PT-FI smelter and the expected Grasberg mine agreement ...

Start Time: 09:10 January 1, 0000 9:35 AM ET Alcoa Corporation (NYSE:AA) JPMorgan Energy, Power and Renewables Conference June 18, 2024, 09:10 AM ET Company Participants Molly Beerman - EVP and CFO Conference Call Participants Unidentified Analyst Good morning, everyone, and welcome back to the 2024 JPMorgan Energy, Power and Renewables Conference. We are very grateful to be hosting Alcoa this morning, and we are joined by Molly Beerman, the company's CFO. And we have Jim Dwyer and Yolande Doctor from Inves ...