On Wednesday, Shares of Alcoa Inc. (NYSE:AA), lost -1.86% to $10.57.
Alcoa Inc., stated solid second quarter 2015 results as the Company’s transformation showed strong progress. Profitability from Alcoa’s growing aerospace and automotive businesses raised year-over-year as mid and downstream investments delivered positive impact. In the upstream, the Primary Metals business was resilient in the face of market headwinds and the Alumina business delivered its strongest first half results in eight years. The Company’s portfolio reshaping is driving results.
Alcoa stated second quarter 2015 net income of $140 million, or $0.10 per share, counting $143 million in restructuring-related charges, primarily to optimize the Company’s upstream portfolio. Year-over-year, second quarter 2015 results compare to net income of $138 million, or $0.12 per share, in second quarter 2014.
Not taking into account special items, second quarter 2015 net income grew to $250 million, or $0.19 per share, up 16 percent from $216 million, or $0.18 per share, in the year-ago period. Profitability raised even as the Midwest transaction price declined $527 per metric ton, or 22 percent, year-to-date through June 30, demonstrating the benefit of a reshaped portfolio.
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 Allegheny Technologies Inc. (NYSE:ATI), declined -6.96% to $26.20, during its last trading session.
Allegheny Technologies Incorporated, commented that, due primarily to challenging business conditions in its Flat Rolled Products business and further weakening in demand from the oil and gas market, it anticipates to report a net loss attributable to ATI of $16 to $18 million, or $(0.15) to $(0.17) per share, for the second quarter 2015.
ATI said its second quarter performance continued to be pressured by the ATI Flat Rolled Products segment, which recorded its sixth quarterly operating loss over the last eight quarters. Base-selling prices for standard stainless steel sheet products fell throughout the second quarter due primarily to a record surge of low-priced imports, primarily from China, and aggressive inventory reductions by distribution customers. In addition, product margins were pressured as raw material surcharges fell throughout the second quarter primarily due to lower prices for nickel units. Shipments of standard stainless products fell significantly, contrast to the first quarter 2015, as many customers reduced inventories throughout the quarter as base-selling prices and raw materials surcharges fell.
Allegheny Technologies Incorporated produces and sells specialty materials and components worldwide. The company operates through two segments, High Performance Materials and Components; and Flat-Rolled Products.
Finally, Ascent Solar Technologies, Inc. (NASDAQ:ASTI), ended its last trade with -7.28% loss, and closed at $0.38, hitting its lowest level.
Ascent Solar Technologies, declared the Company has selected New York City based PCG Advisory Group (PCG) to serve as Investor and Corporate Relations Agency of Record effective July 6, 2015.
Rafael Gutierrez, Chief Operating Officer of Ascent, said, “As Ascent Solar, via our EnerPlex brand, continues to rapidly accelerate its expansion into the retail mobile, outdoor and emergency markets, while ongoing to actively pursue the specialty Solar market, we recognized the need to retain an Investor and Corporate Relations partner with experience in communicating with diverse sets of investors. The selection of Jeff Ramson and his team at PCG Advisory reflects Ascent’s administration team’s commitment to plannedally develop our corporate and investor message and communicate this message to a wider audience of investors and members of the media.”
Jeff Ramson, Founder and CEO of PCG, said, “The team at Ascent Solar Technologies has a unique and fascinating story that needs to be shared on Wall Street and beyond. We look forward to working together and bringing the Ascent Solar Technologies value proposition to our network of investors, bloggers, journalists, and other key stakeholders.”
Ascent Solar Technologies, Inc., a development stage company, designs and manufactures photovoltaic integrated consumer electronics; and portable power applications for commercial and military users.
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