Allegheny Technologies Inc

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  • uploads///part  revenue goal
    Earnings Report

    Alcoa’s 2016 Guidance Adds Gloom to 3Q Earnings Disappointment

    During its 3Q16 earnings call, Alcoa lowered the business targets for all three segments under Arconic.

    By Mohit Oberoi, CFA
  • uploads///last
    Macroeconomic Analysis

    How Do Aluminum Inventories Work?

    Aluminum inventories with London Metal Exchange (or LME) registered warehouses have declined this year. Aluminum inventories have been on a decline for almost two years.

    By Mohit Oberoi, CFA
  • uploads///Atlas
    Basic Materials

    Why Atlas Air Worldwide’s transformation will boost its earnings

    Atlas Air Worldwide (AAWW) is an outsourced global provider of aircraft and aviation operating services for airlines, express delivery providers, freight forwarders, the United States military, and charter brokers.

    By Stilian Morrison
  • uploads///PART
    Earnings Report

    Arconic’s Tough Beginning: Controversies and Battles

    Arconic is scheduled to release its 1Q17 earnings on April 25. ARNC was listed as a separate entity on November 1, 2016, when Alcoa split into two entities.

    By Mohit Oberoi, CFA
  • uploads///Chart
    Macroeconomic Analysis

    What Were SPY’s Top Stocks?

    The stocks at the top of the SPDR S&P 500 ETF (SPY) on January 7, 2016, were GAP (GPS), EQT (EQT), and Constellation Brands (STZ).

    By Renee Blakely
  • uploads///snapshot
    Earnings Report

    Alcoa Beats Wall Street Expectations Again

    Aluminum premiums more than doubled in 2014, which benefited primary producers like Rio Tinto and BHP Billiton.

    By Mohit Oberoi, CFA
  • uploads///lower steel
    Earnings Report

    Lower Steel Prices Dent AK Steel’s 4Q14 Earnings

    AK Steel’s average selling prices dropped by ~10% as compared to 3Q14. Revenues increased by ~25% as compared to 3Q14, due to shipments from Dearborn Works.

    By Mohit Oberoi, CFA
  • uploads///Chart
    Macroeconomic Analysis

    Upbeat Earnings from Johnson & Johnson and 3M Boosted SPY

    3M stock (MMM) jumped 5.2% after the company’s quarterly report beat analysts’ estimates.

    By Renee Blakely
  • uploads///europe indicators
    Macroeconomic Analysis

    Europe’s Economic Indicators Steady Despite Global Slowdown

    Europe’s economic indicators have been steady so far in 2015, coming while the economic data from China has been worsening.

    By Mohit Oberoi, CFA
  • uploads///Point  deal
    Basic Materials

    How Much Will Komatsu Pay Joy Global’s Shareholders?

    Komatsu, Japan-based construction equipment maker, will pay $28.30 per share in cash to acquire Milwaukee-based Joy Global. The deal is worth ~$3.7 billion.

    By Jessica Stephans
  • uploads///Boeing  MAX
    Company & Industry Overviews

    Boeing Supplier Stocks Fall on MAX Production Cut News

    Boeing (BA) and part supplier stocks fell sharply yesterday on reports of a temporary production halt for 737 MAX planes.

    By Anirudha Bhagat
  • uploads///Boeing MAX Design
    Basic Materials

    Boeing MAX Design Flaws Caused Lion Air Crash

    Indonesian investigators have identified design flaws and mechanical issues in Boeing’s 737 MAX aircraft as the reason for the deadly Lion Air crash.

    By Anirudha Bhagat
  • uploads///Boeing MAX
    Basic Materials

    Boeing Supplier Stocks in Focus as MAX Crisis Worsens

    Boeing (BA) stock slid 6.8% on Friday. Also impacted by the MAX crisis are part suppliers Spirit AeroSystems, Triumph Group, and Allegheny Technologies.

    By Anirudha Bhagat
  • uploads///Boeing MAX
    Basic Materials

    Boeing Rises on 737 MAX Production Ramp-Up News

    Boeing (BA) stock closed 4.2% higher yesterday on news of its production ramp-up plan for its troubled 737 MAX planes.

    By Anirudha Bhagat
  • uploads///Boeing
    Basic Materials

    Boeing CEO Reaffirms a September Fix to 737 MAX Software

    Boeing CEO Dennis Muilenburg expressed optimism over the 737 MAX’s Q4 return to service. Boeing plans to submit the MAX certification packages next month.

    By Anirudha Bhagat
  • uploads///Image
    Company & Industry Overviews

    Spirit AeroSystems Downgraded on Boeing’s 737 MAX Uncertainty

    Shares of Spirit AeroSystems Holdings (SPR) fell nearly 3% after investment company Jefferies downgraded its rating on the stock and slashed its earnings outlook.

    By Anirudha Bhagat
  • uploads///Boeing
    Basic Materials

    Boeing Stock Fell Nearly 4%, More 737 MAX Concerns

    On Thursday, Boeing (BA) stock fell nearly 4%. Investors were cautious about the company shutting down the 737 MAX production.

    By Anirudha Bhagat
  • uploads///part  trump part
    Earnings Report

    Why U.S. Steel Might Have to Hope for a Trump Second Term

    U.S. Steel (X) is working on an “asset revitalization plan.” According to the company, investment in this program will be $300 million higher this year.

    By Mohit Oberoi, CFA
  • uploads///part  energy
    Company & Industry Overviews

    Would Clinton’s Energy Policy Sound a Death Knell for U.S. Steel?

    U.S. Steel’s Tubular segment has historically been its most profitable segment. But the segment has generated massive losses during the past few quarters.

    By Mohit Oberoi, CFA
  • uploads///part  shipments
    Company & Industry Overviews

    What AK Steel’s New Strategy Could Bring for Investors This Year

    AK Steel’s 1Q16 steel shipments declined by 5% as compared to the corresponding quarter last year. U.S. Steel’s 1Q16 flat-rolled steel shipments also fell.

    By Mohit Oberoi, CFA
  • uploads///part  ebitda
    Earnings Report

    U.S. Steel’s 2016 EBITDA Guidance: How Realistic Is It This Time?

    U.S. Steel has assumed more realistic market conditions this year. However, even the much scaled down 2016 EBITDA guidance could prove an uphill task.

    By Mohit Oberoi, CFA
  • uploads///Chart
    Miscellaneous

    Freeport-McMoran Is Biggest Loser for Moving Averages, Returns

    Freeport-McMoRan’s (FCX) trailing one-year return is the lowest at -70.7%. The stock had a steep fall on December 28, after its executive chairman stepped down.

    By Renee Blakely
  • uploads///Chart
    Macroeconomic Analysis

    Healthcare Stock Mallinckrodt Emerged as One of the Top Stocks

    The stocks at the top of the SPDR S&P 500 ETF on December 30, 2015, were Allegheny Technologies (ATI), Mallinckrodt (MNK), and Tesoro Corporation (TSO).

    By Renee Blakely
  • uploads///Chart
    Macroeconomic Analysis

    The SPY ETF Rose 0.8% despite a Continued Fall in Oil Prices

    On Monday, December 21, 2015, the SPDR S&P 500 ETF (SPY) and the Direxion Daily S&P500 Bull 3X ETF (SPXL) rose by 0.8% and 2.8%, respectively.

    By Renee Blakely
  • uploads///part
    Company & Industry Overviews

    What’s Driving Alcoa’s Stock?

    Alcoa’s stock has witnessed a decent upwards move over the last few trading sessions, gaining more than 16% since November 12.

    By Mohit Oberoi, CFA
  • uploads///Performance of SPYs Component Sectors
    Macroeconomic Analysis

    Mixed Economic Review Ended the Stock Market’s Gains in October

    The Chicago PMI was 56.2 for October 2015. It beat the consensus reading of 49.2. This figure gives a mixed review of the US economy.

    By Renee Blakely
  • uploads///Performances of ATI and JOY
    Macroeconomic Analysis

    Stocks Fall with Release of Dallas Fed and New Home Sales Reports

    October 26 saw the release of two important economic indicators, namely, the results of the Dallas Fed manufacturing survey and the new home sales report.

    By Renee Blakely
  • uploads///value add financials
    Miscellaneous

    Why Alcoa’s Value-Add Company Could Enjoy Stable Margins

    Alcoa’s (AA) value-add company had pro forma revenues of $14.5 billion in the 12-month period ending June 30, 2015.

    By Mohit Oberoi, CFA
  • uploads///dri turning raw material loss
    Company & Industry Overviews

    Nucor’s Louisiana DRI Plant Could Finally See Turnarounds

    Last year, Nucor began production at its DRI plant in Louisiana, one of the largest plants in the world. The plant might see a positive cash flow this year.

    By Mohit Oberoi, CFA
  • uploads///part  us steel production
    Macroeconomic Analysis

    US Steel Production Falters on Weak Demand from Energy Sector

    As of August 22, US steel production fell 7.8% compared to the corresponding period last year.

    By Mohit Oberoi, CFA
  • uploads///part  share prices
    Macroeconomic Analysis

    Steel Companies Continue to Hurt as China’s Slump Worsens

    Metal stocks have seen increased volatility over the last few trading sessions. Share prices of most steel companies are approaching their 52-week lows.

    By Mohit Oberoi, CFA
  • uploads///part  china aluminum exports
    Macroeconomic Analysis

    Chinese Aluminum Exports Fall in July as Prices Tumble

    In July, Chinese (MCHI) aluminum exports fell more than 5% year-over-year, with aluminum prices trading near their six-year lows over the last few weeks.

    By Mohit Oberoi, CFA
  • uploads///part
    Macroeconomic Analysis

    Weaker Yuan Is China’s Latest Measure to Spur Economic Growth

    China has allowed its currency to fall over the last week. The benchmark one-year lending rate in China stands at 4.85%, a historically low interest rate in the Chinese economy.

    By Mohit Oberoi, CFA
  • uploads///nafta
    Earnings Report

    Understanding ArcelorMittal’s 2Q15 NAFTA Performance

    North American Free Trade Agreement (or NAFTA) operations account for almost a quarter of ArcelorMittal’s (MT) revenue.

    By Mohit Oberoi, CFA
  • uploads///rti
    Miscellaneous

    How RTI Metals Fits into Alcoa’s Aerospace Portfolio

    On July 23, Alcoa completed its acquisition of RTI Metals. In this part, we’ll explore how RTI Metals fits into Alcoa’s aerospace portfolio.

    By Mohit Oberoi, CFA
  • uploads///china car sales
    Macroeconomic Analysis

    Why the Drop in China’s Car Sales Could Affect ArcelorMittal

    In June, China’s car sales fell 3.2% compared to last year. This is the first yearly decline in China’s passenger car sales since February 2013.

    By Mohit Oberoi, CFA
  • uploads///cost cutting primary
    Company & Industry Overviews

    Alcoa Closes Brazil Smelter: How Will It Affect Earnings?

    The closure of the high-cost Brazil smelter will help Alcoa further improve its positioning on the global cost curve.

    By Mohit Oberoi, CFA
  • uploads///rig count
    Macroeconomic Analysis

    Rig Count Rises Marginally—Is It Enough to Spur OCTG Demand?

    The US rig count, which is a measure of the energy industry’s health, has been on a downward spiral since November 2014.

    By Mohit Oberoi, CFA
  • uploads///century electricity supply
    Earnings Report

    The Power Supply Woes of Century Aluminum

    Construction at Century Aluminum’s plant in Helguvik is stalled since it hasn’t been able to secure a power supply. The plant would substantially increase production capacity.

    By Mohit Oberoi, CFA
  • uploads///part  profit margins
    Earnings Report

    Nucor Profit Margins Compress as 1Q15 Capacity Utilization Falls

    Nucor’s 1Q15 profit margins were compressed since its capacity utilization rate fell to 65%, down from 76% in 4Q14.

    By Mohit Oberoi, CFA
  • uploads///aerospace
    Macroeconomic Analysis

    Alcoa Sees Strong End User Demand in 1Q15

    April has been a mixed bag for the aluminum industry. End user demand continues to be strong, at least in Alcoa’s core markets of North America and Europe.

    By Mohit Oberoi, CFA
  • uploads///real estate climate index
    Macroeconomic Analysis

    China Real Estate Climate Index Hits New Low In March

    The China real estate climate index measures the aggregate business activity for land and real estate.

    By Mohit Oberoi, CFA
  • uploads///alumina
    Earnings Report

    Alcoa Sees Biggest Gains from Alumina Segment in 1Q 2015

    Alcoa’s alumina segment contributed $221 million in 1Q 2015, or 35%, to the company’s after-tax operating income.

    By Mohit Oberoi, CFA
  • uploads///GRP
    Earnings Report

    Cost Pressures and Lower Premiums Hit Alcoa’s 1Q 2015 Earnings

    Alcoa faced cost pressures in its packaging segment. It also faced higher operating costs, as it ramped up production at its Saudi Arabia rolling mill.

    By Mohit Oberoi, CFA
  • uploads///europe premiums
    Macroeconomic Analysis

    Aluminum premiums in Europe down as imports surge

    Aluminum premiums in Europe have just seen the biggest three-month fall for the last 17 years.

    By Mohit Oberoi, CFA
  • uploads///rti metals
    Company & Industry Overviews

    How RTI International Metals fits into Alcoa’s aerospace strategy

    Alcoa has announced the acquisition of RTI International Metals (RTI). RTI will enhance Alcoa’s portfolio of titanium offerings.

    By Mohit Oberoi, CFA
  • uploads///q snapshot
    Earnings Report

    Century Aluminum’s 4Q Earnings – Shipments Rose

    Century Aluminum posted an adjusted EPS of $0.65 in the fourth quarter. Its EPS was $0.52 in 3Q14. The earnings were lower than Wall Street’s expectations.

    By Mohit Oberoi, CFA
  • uploads///Special Items
    Earnings Report

    Understanding The Special Items In Alcoa’s Earnings

    Alcoa is implementing a strategy to transform into a multimaterial powerhouse, including exiting several of its high-cost production facilities.

    By Mohit Oberoi, CFA
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