On Tuesday, Shares of Alcoa Inc. (NYSE:AA), lost -1.76% to $11.15, hitting its lowest level.
Alcoa Inc., declared that it will permanently close its Poços de Caldas primary aluminum smelter in Brazil on June 30, 2015. The smelter has been curtailed since May 2014 and the underlying market conditions that led to the curtailment have not improved.
Once the Poços smelter is closed, Alcoa’s total global smelting capacity will be reduced by 96,000 metric tons, to 3.4 million metric tons. The Poços mine, refinery, aluminum powder plant and casthouse will continue normal operations.
As a result of the closure, Alcoa anticipates to record restructuring-related charges in second quarter 2015 between $100 million and $110 million after-tax, or $.08 to $.09 per share, of which about 60 percent is non-cash.
Alcoa Inc. produces and manages primary aluminum, fabricated aluminum, and alumina worldwide. The company operates through four segments: Alumina, Primary Metals, Global Rolled Products, and Engineered Products and Solutions.
Shares of Xerox Corporation (NYSE:XRX), declined -1.30% to $10.64, during its last trading session, hitting its lowest level.
Xerox Corporation, declared the completion of the formerly declared sale of its Information Technology Outsourcing (ITO) business.
The transaction enables Xerox to enhance its focus and resources on expanding its Business Process Outsourcing (BPO) and Document Outsourcing (DO) businesses, areas where the company has competitive and market advantage.
Additionally, this transaction will enable new levels of partnership in developing innovative solutions for our customers that leverage Atos’ world-class ITO capabilities, and highlight Xerox’s Business Process Outsourcing and Document Outsourcing expertise.
Xerox anticipates to use the net after-tax proceeds of about $850 million from the transaction to repurchase common stock and fund acquisitions.
Xerox Corporation provides business process and document administration solutions worldwide. The company’s Services segment offers various business process outsourcing services, such as customer care, transaction processing, human resources, communication and marketing, and consulting and analytics services, in addition to finance, accounting, and procurement services.
Finally, Teck Resources Limited (NYSE:TCK), ended its last trade with -4.44% loss, and closed at $9.91, hitting its lowest level.
Teck Resources Limited, will release its second quarter 2015 earnings results on Thursday, July 23, 2015 before market open.
The company will hold an investor conference call to talk about the second quarter 2015 earnings results at 11:00 a.m. Eastern time / 8:00 a.m. Pacific time on Thursday, July 23, 2015. The conference call dial-in is 416.340.2216 or toll free 866.225.0198, no pass code required. Media are invited to attend on a listen-only basis.
Teck Resources Limited explores, develops, and produces natural resources in the Americas, the Asia Pacific, Europe, and Africa. Its principal products comprise copper, counting copper concentrates and cathode copper; steelmaking coal; and refined zinc and zinc concentrates.
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