Alcoa (AA) Updates on Progress Toward Three-Year Targets, Company Separation
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Market Wrap: Dow Jones Turns Positive for 2015; Citron Out with More on Valeant; Mergers Galore
November 2, 2015 5:44 PM ESTMarket wrap for November 2nd
End of the Day: S&P 500 up 24.7 to 2,104.05; Dow Jones up 165.2 to 17,828.76; Nasdaq up 73.4 to 5,127.15
Market Brief: The Dow Jones Industrial Average pushed into positive territory for 2015, now up a modest 0.03% for the year.
Energy stocks made a 2.4 percent move higher today, leading the S&P 500.
Merger Monday is back for the second-straight week as a slew of announcements were made ahead of the opening bell.
Citron Research was... More
Alcoa (AA) Announces Plans to Curtail Some Smelting, Refining Capacity
November 2, 2015 5:01 PM ESTAlcoa (NYSE: AA) announced that it is taking decisive action to curtail uncompetitive smelting and refining capacity to ensure continued competitiveness amid prevailing market conditions. The Company will reduce aluminum smelting capacity by 503,000 metric tons and alumina refining capacity by 1.2 million metric tons. Alcoa will begin the curtailments in the fourth quarter of 2015 and will complete them by the end of the first quarter of 2016.
The reductions will further improve the cost position of the Upstream business and ensure competitiveness in a lower pricing environment, including a 30 percent drop in the Midwest transaction aluminum... More
