On Wednesday, Noranda Aluminum Holding Corporation (NYSE:NOR)’s shares inclined 20.39% to $1.24.
Noranda Aluminum Holding Corporation (NOR) said it received $15 million of project-specific financing to complete the redraw rod mill at its aluminum smelter. The company said the new rod mill will enhance its production capacity by about 43% and will “exemplify the latest cutting-edge technology in the North American marketplace.”
The company anticipates the mill to start production in the second quarter of 2016.
- STOCKS TO BUY:
Obtaining financing to complete the rod mill is another positive step for Noranda as we continue to execute our key strategies of optimizing our integrated platform and maximizing our value-added products,” President and CEO Layle K. “Kip” Smith said in a statement.
About 1.9 million shares of Noranda Aluminum were traded by 11:23 a.m. Wednesday, above the company’s average trading volume of about 1.2 million shares a day.
Noranda Aluminum Holding Corporation produces and sells primary aluminum and rolled aluminum coils in the United States. The company’s Bauxite segment mines, produces, and sells bauxite used for alumina production. Its Alumina segment refines and converts bauxite into alumina, which is used in the production of primary aluminum; and sells smelter grade alumina and alumina hydrate, or chemical-grade alumina.
SYSCO Corporation (NYSE:SYY)’s shares gained 0.16% to $37.31.
SYSCO Corporation (SYY) declared that its Board of Directors declared a regular quarterly cash dividend of $0.30 per share, payable on July 24, 2015, to common shareholders of record at the close of business on July 2, 2015.
Sysco Corporation, through its auxiliaries, markets and distributes a range of food and related products primarily to the foodservice or food-away-from-home industry. It operates in Broadline and SYGMA segments. The company distributes a line of frozen foods, such as meats, seafood, fully prepared entrees, fruits, vegetables, and desserts; a line of canned and dry foods; fresh meats; dairy products; beverage products; imported specialties; and fresh produce.
At the end of Wednesday’s trade, WisdomTree Investments, Inc. (NASDAQ:WETF)‘s shares dipped -3.37% to $21.92.
WisdomTree Investments, Inc. (WETF) declared the hire of Kurt MacAlpine as Executive Vice President-Head of Global Distribution. In a newly created role, Mr. MacAlpine will oversee WisdomTree`s ETP sales and distribution initiatives globally and join WisdomTree`s executive administration team. He joins WisdomTree from McKinsey & Company where he was a Partner and Leader of the North American Asset Administration practice.
As a Partner at McKinsey & Company, Kurt managed global consulting teams in the asset administration and wealth administration industries on topics related to distribution, marketing, product development, international expansion, strategy and M&A. He has extensive experience working with domestic and foreign firms in North America, Asia and Europe. Kurt was also a member of McKinsey`s Global Asset and Wealth Administration Operating Committee.
WisdomTree Investments, Inc., through its auxiliaries, operates as an exchange-traded funds (ETFs) sponsor and asset manager. It offers ETFs in equities, currency, fixed income, and alternatives asset classes.
Genworth Financial Inc (NYSE:GNW), ended its Wednesday’s trading session with -0.38% loss, and closed at $7.92.
Genworth Financial Inc (GNW) has lost half its market value in the last year, but one large trade is betting that further declines will be limited.
optionMONSTER’s tracking systems detected the sale of 8,330 December 6 puts in one print for the bid price of $0.23 right out of the gate this morning. This is clearly a new position, as open interest in the strike was just 1,211 contracts before the trade occurred.
The put seller collects the $0.23 premium and is looking for GNW to stay above $6 through expiration in mid-December. If the stock falls below that strike price, the trader will be on the hook to buy shares at that level.
GNW is unchanged at $8 in early trade but down some 53 percent in the last 12 months. The insurance firm gapped up after its last earnings report in late April but has since given up those gains and fallen back into a tight range that has been in place for most of the year.
Genworth Financial, Inc. provides insurance, retirement, and homeownership solutions in the United States and internationally. It operates through U.S. Life Insurance, International Mortgage Insurance, U.S. Mortgage Insurance, International Protection, and Runoff segments.
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