Alcoa (NYSE:AA) announced today that two senior finance executives will swap positions so each can broaden his experience within the global aluminum company. Effective August 1, Tony R. Thene, Alcoa Vice President and Controller, has been named Chief Financial Officer of Alcoa's Engineered Products and Solutions business group (EPS), and Graeme Bottger, currently EPS Chief Financial Officer, has been elected to succeed Mr. Thene as Alcoa Vice President and Controller."Tony moves to the top finance position in EPS at a time when our downstream business is pursuing an external growth strategy and strengthening productivity, both areas where his controller background will be beneficial to EPS," said Alcoa Executive Vice President and Chief Financial Officer Chuck McLane. Mr. Thene will remain a Vice President of Alcoa and has been named to the Company's Executive Council. He has served with Alcoa for 21 years 
Share:  Alcoa (<span class="company">NYSE:AA</span>) announced today that two senior finance executives will swap positions so each can broaden his experience within the global aluminum company. <span class="sent">Effective August 1, Tony R. Thene, Alcoa Vice President and Controller, has been named Chief Financial Officer of Alcoa's Engineered Products and Solutions business group (EPS), and Graeme Bottger, currently EPS Chief Financial Officer, has been elected to succeed Mr. Thene as Alcoa Vice President and Controller."Tony moves to the top finance position in EPS at a time when our downstream business is pursuing an external growth strategy and strengthening productivity, both areas where his controller background will be beneficial to EPS," said Alcoa Executive Vice President and Chief Financial</span> Officer <span class="analyst">Chuck McLane</span>. Mr. Thene will remain a Vice President of Alcoa and has been named to the Company's Executive Council. He has served with Alcoa for 21 years....He has served with Alcoa for 21 years. <span class="sent">Mr. Bottger, in his new role, will be responsible for global business services for Alcoa."In Graeme's 29 year Alcoa career, he has held a broad range of global operating and corporate positions that prepare him well for his new assignment as Alcoa's Controller," <span class="analyst">McLane</span> said.</span> "During his five years as EPS CFO, the group grew dramatically in size and importance within the Alcoa portfolio.". Mr. Bottger was elected an officer of Alcoa and will remain a member of the Company's Executive Council. Tweet this   read full story

Alcoa Inc is changing the way it prices alumina as its long term contracts come up for renewal, according to chairman and chief executive officer Klaus Kleinfeld. The Pittsburgh based company's long term supply contracts had priced alumina as a percentage of exchange traded aluminum, but as its multiyear contracts cycle through for renewal the company is pushing customers toward higher, non LME linked prices. "We have changed the pricing mechanism to basically more appropriately reflect market conditions as well as underlying costs, and this has yielded a higher price per percentage of LME," Kleinfeld said during the company's second quarter conference call 
Share:  <span class="sent"><span class="company">Alcoa</span> Inc is changing the way it prices alumina as its long term contracts come up for renewal, according to chairman and chief executive officer <span class="analyst">Klaus Kleinfeld</span>.</span> The Pittsburgh based company's long term supply contracts had priced alumina as a percentage of exchange traded aluminum, but as its multiyear contracts cycle through for renewal the company is pushing customers toward higher, non LME linked prices. "We have changed the pricing mechanism to basically more appropriately reflect market conditions as well as underlying costs, and this has yielded a higher price per percentage of LME," Kleinfeld said during the company's second quarter conference call....The Pittsburgh based company's long term supply contracts had priced alumina as a percentage of exchange traded aluminum, but as its multiyear contracts cycle through for renewal the company is pushing customers toward higher, non LME linked prices. <span class="sent">"We have changed the pricing mechanism to basically more appropriately reflect market conditions as well as underlying costs, and this has yielded a higher price per percentage of LME," <span class="analyst">Kleinfeld</span> said during the company's second quarter conference call.</span> <span class="company">Alcoa</span> said repeatedly in the past that the LME linked alumina pricing mechanism did not accurately reflect. Tweet this   read full story

Citigroup, Inc (NYSE: C) analysts reiterated a ‘Buy' on Alcoa Inc (NYSE: AA), price target $16. 
Share:  <span class="sent">Citigroup, Inc (NYSE: C) analysts reiterated a ‘Buy' on <span class="company">Alcoa</span> Inc (NYSE: AA), price target $16.</span> Tweet this   read full story

The price was still down 15 percent since March 31 and more than 40 percent from the July 2008 high, before the global recession cut demand. "Undoubtedly we are not seeing the environment we've seen in the past, but we see the environment getting better and continuously moving in the right direction," Chief Executive Officer Klaus Kleinfeld said on a conference call. Cheaper Chinese Goods. The cost of goods from China decreased 0.3 percent, while those from Japan rose 0.1 percent. 
Share:  The price was still down 15 percent since March 31 and more than 40 percent from the July 2008 high, before the global recession cut demand. <span class="sent">"Undoubtedly we are not seeing the environment we've seen in the past, but we see the environment getting better and continuously moving in the right direction," Chief Executive Officer <span class="analyst">Klaus Kleinfeld</span> said on a conference call.</span> Cheaper Chinese Goods. The cost of goods from China decreased 0.3 percent, while those from Japan rose 0.1 percent. Tweet this   read full story

As an aluminum producer, Alcoa's customers come from a wide range of industries, giving it an inside line on whether those industries are expanding or contracting. Looking forward, Alcoa said it sees strength in the aerospace, automotive, gas turbine and building construction sectors. The company raised its global aluminum consumption forecast to 12% growth this year, compared with a previous forecast of 10%. "Alcoa is now saying they are seeing faster demand growth and this is good," Charles Bradford, a partner at New York based consulting firm Affiliated Research Group LLC, told Bloomberg. 
Share:  As an aluminum producer, <span class="company">Alcoa</span>'s customers come from a wide range of industries, giving it an inside line on whether those industries are expanding or contracting. Looking forward, <span class="company">Alcoa</span> said it sees strength in the aerospace, automotive, gas turbine and building construction sectors. The company raised its global aluminum consumption forecast to 12% growth this year, compared with a previous forecast of 10%.<span class="sent"> "<span class="company">Alcoa</span> is now saying they are seeing faster demand growth and this is good," <span class="analyst">Charles Bradford</span>, a partner at New York based consulting firm Affiliated Research Group LLC, told Bloomberg.</span>...As an aluminum producer, <span class="company">Alcoa</span>'s customers come from a wide range of industries, giving it an inside line on whether those industries are expanding or contracting. Looking forward, <span class="company">Alcoa</span> said it sees strength in the aerospace, automotive, gas turbine and building construction sectors. The company raised its global aluminum consumption forecast to 12% growth this year, compared with a previous forecast of 10%.<span class="sent"> "<span class="company">Alcoa</span> is now saying they are seeing faster demand growth and this is good," <span class="analyst">Charles Bradford</span>, a partner at New York based consulting firm Affiliated Research Group LLC, told Bloomberg.</span>...As an aluminum producer, <span class="company">Alcoa</span>'s customers come from a wide range of industries, giving it an inside line on whether those industries are expanding or contracting. Looking forward, <span class="company">Alcoa</span> said it sees strength in the aerospace, automotive, gas turbine and building construction sectors. The company raised its global aluminum consumption forecast to 12% growth this year, compared with a previous forecast of 10%.<span class="sent"> "<span class="company">Alcoa</span> is now saying they are seeing faster demand growth and this is good," <span class="analyst">Charles Bradford</span>, a partner at New York based consulting firm Affiliated Research Group LLC, told Bloomberg.</span> "I would have liked to see them post an even better number, but the industry is still very depressed.". Tweet this   read full story

Alcoa: Citigroup equity analyst Brian Yu reiterated a buy rating and 16 price target on shares of Alcoa ( AA ), the largest U. S aluminum producer, on July 13. After the close of trading on July 12, Alcoa reported second quarter profit that topped analysts' projections as higher metal prices boosted sales. Earnings from continuing operations were 13¢ a share, exceeding the 11¢ average estimate of 17 analysts surveyed by Bloomberg. Net income of $136 million, or 13¢ a share, compared with a net loss of $454 million, or 47¢, a year earlier, New York based Alcoa said today in a statement 
Share:  <span class="sent">Alcoa: Citigroup equity analyst <span class="analyst">Brian Yu</span> reiterated a buy rating and 16 price target on shares of Alcoa ( <span class="company">AA</span> ), the largest U. S aluminum producer, on July 13.</span> After the close of trading on July 12, Alcoa reported second quarter profit that topped analysts' projections as higher metal prices boosted sales. Earnings from continuing operations were 13¢ a share, exceeding the 11¢ average estimate of 17 analysts surveyed by Bloomberg. Net income of $136 million, or 13¢ a share, compared with a net loss of $454 million, or 47¢, a year earlier, New York based Alcoa said today in a statement....<span class="sent">Alcoa: Citigroup equity analyst <span class="analyst">Brian Yu</span> reiterated a buy rating and 16 price target on shares of Alcoa ( <span class="company">AA</span> ), the largest U. S aluminum producer, on July 13.</span> After the close of trading on July 12, Alcoa reported second quarter profit that topped analysts' projections as higher metal prices boosted sales. Earnings from continuing operations were 13¢ a share, exceeding the 11¢ average estimate of 17 analysts surveyed by Bloomberg. Net income of $136 million, or 13¢ a share, compared with a net loss of $454 million, or 47¢, a year earlier, New York based Alcoa said today in a statement....<span class="sent"><span class="company">Alcoa</span>: Citigroup equity analyst <span class="analyst">Brian Yu</span> reiterated a buy rating and 16 price target on shares of <span class="company">Alcoa</span> ( AA ), the largest U. S aluminum producer, on July 13.</span> After the close of trading on July 12, <span class="company">Alcoa</span> reported second quarter profit that topped analysts' projections as higher metal prices boosted sales. Earnings from continuing operations were 13¢ a share, exceeding the 11¢ average estimate of 17 analysts surveyed by Bloomberg. Net income of $136 million, or 13¢ a share, compared with a net loss of $454 million, or 47¢, a year earlier, New York based <span class="company">Alcoa</span> said today in a statement. Sales gained 22 percent to $5.19 billion. Tweet this   read full story

Combined, the wealth of negative analyst ratings and the rising number of shorted AA shares hints that expectations for the company's quarterly report may be lower than the current consensus estimates. Pessimism is Par for the Course Unfortunately, a look at AA's price action reveals that most of this negativity has been honestly earned. The stock has steadily declined under the weight of its declining 10 week and 20 week moving averages since early April, resulting in a year to date loss of more than 33% 
Share:  <span class="sent">Combined, the wealth of negative analyst ratings and the rising number of shorted <span class="company">AA</span> shares hints that expectations for the company's quarterly report may be lower than the current consensus estimates.</span> Pessimism is Par for the Course Unfortunately, a look at <span class="company">AA</span>'s price action reveals that most of this negativity has been honestly earned. The stock has steadily declined under the weight of its declining 10 week and 20 week moving averages since early April, resulting in a year to date loss of more than 33%....The stock has steadily declined under the weight of its declining 10 week and 20 week moving averages since early April, resulting in a year to date loss of more than 33%.<span class="sent"> However, <span class="company">AA</span> appears to be in the process of rebounding from support near $10 per share. The round number $10 region is not only home to long term support, but also represents potential psychological support.</span> Tweet this   read full story

Alcoa (NYSE: AA) announced today it has agreed to purchase privately held Traco, a premier maker of windows and doors for the commercial building and construction market. Traco will become part of Alcoa’s global Building and Construction Systems business. Terms were not disclosed. 
Share:  <span class="sent">Alcoa (NYSE: AA) announced today it has agreed to purchase privately held Traco, a premier maker of windows and doors for the commercial building and construction market. Traco will become part of Alcoa’s global Building and Construction Systems business. Terms were not disclosed.</span> Tweet this   read full story