— Aluminum supplier Alcoa Corporation (NYSE: AA) reported an adjusted loss of $0.31 per share for the fourth quarter of 2019, vs. $0.23 per share loss expected.
— Unadjusted net loss was $303 million or $1.63 per share for the quarter, compared to a profit of $51 million or $0.27 per share in the fourth quarter of 2018.
— Revenues decreased to $2.4 billion during the three-month period from $3.3 billion last year, vs. $2.47 billion expected
— During the quarter, the company initiated steps in a multi-year portfolio review and continuing work to strengthen its balance sheet
— Ended the quarter with cash on hand of $879 million and debt of $1.8 billion
— Predicts a global aluminum surplus ranging between 600 thousand to 1 million metric tons in 2020
— Expects bauxite shipments to range between 48 and 49 million dry metric tons in fiscal 2020
— Estimates total alumina shipments to be between 13.6 and 13.7 million metric tons this year; aluminum segment is expected to ship between 3 and 3.1 million metric tons
— Expects lower quarterly results in the Bauxite segment in the first quarter, due to lower pricing and seasonally lower volumes
— Expects annual operational tax rate ranging from 70 to 80 percent
https://www.youtube.com/watch?v=50yUaLybUnA&t=667s China-based internet search firm Baidu Inc. (NASDAQ: BIDU) reported financial results for the second quarter of 2020 on Thursday after the market's close. Earnings exceeded analysts’ expectations, but the
Applied Materials' (NASDAQ: AMAT) earnings and revenue for the third quarter exceeded the market's views. Adjusted EPS of $1.06 and revenue of $4.40 billion in Q3, grew 43% and 23%,
A lot of stocks in the biotech space have skyrocketed this year after their announcements and advances in finding a vaccine or in the treatment of COVID-19. While these companies