Alcoa Plunges Most In Year After CFO Warns Alumina Unit "Will Be Underwater" Amid Hormuz Disruption Alcoa shares in New York were hammered the most in over a year on Wednesday after CFO Molly Beerman warned investors that the company's alumina segment faces heavy losses from the energy shock and ongoing disruption at the Hormuz maritime chokepoint. Beerman was blunt with investors while giving a p...
Alcoa Plunges Most In Year After CFO Warns Alumina Unit "Will Be Underwater" Amid Hormuz Disruption Alcoa shares in New York were hammered the most in over a year on Wednesday after CFO Molly Beerman warned investors that the company's alumina segment faces heavy losses from the energy shock and ongoing disruption at the Hormuz maritime chokepoint. Beerman was blunt with investors while giving a presentation at the Wells Fargo Industrials & Materials Conference. She said, "Our alumina segment is very pressured right now," adding, "The segment as a whole will be underwater." Beerman said the unprofitability in the alumina segment stems from a toxic cocktail of soaring energy costs, supply disruptions in the Gulf region, and LNG disruptions in Western Australia following Cyclone Narelle. Alcoa's alumina refineries are heavily exposed because they rely on fuel and electricity, and typically ship material to aluminum smelters in the Persian Gulf. Alcoa's alumina refineries are mainly in Western Australia, Brazil, and Spain. None are located in the Gulf region. What's important is that the company's refining assets are outside the Gulf, but its alumina cargoes feed Gulf smelters, making the business exposed to ongoing Hormuz shipping disruption and Gulf energy shocks. Alcoa expects 2026 Alumina segment production of 9.7-9.9 million metric tons and shipments of 11.8-12.0 million metric tons. Beerman's warning sent shares tumbling 9.5% in New York on Wednesday, marking the largest one-day drop in 14 months. Shares were up 2% in premarket trading, clawing back some of yesterday's losses. Year-to-date, the stock is up 23.4% and is nearing its 2022 highs. According to Bloomberg data, Wall Street analysts are mostly bullish on AA. We have cited several institutional metal desks, including Mercuria, Goldman, and JPMorgan , all of which see the Gulf energy shock producing a supply shock in the aluminum market. This has sent prices back to 2022 highs. Mercuria commodities analyst...
Investing.com -- Intel shares climbed about 5% in premarket trading after Bank of America double-upgraded the stock from Underperform to Buy and raised its price target to $135 from $96, driven by growing confidence in the company’s server CPU opportunity and its external foundry business.
Investing.com -- Intel shares climbed about 5% in premarket trading after Bank of America double-upgraded the stock from Underperform to Buy and raised its price target to $135 from $96, driven by growing confidence in the company’s server CPU opportunity and its external foundry business.
Youth unemployment is harming the mental health of a generation. A sluggish economy will only make things harder Unemployment is bad for anyone, but really hard on the young. That’s because prolonged periods of worklessness in your late teens or early 20s scar you for life. As academic studies have shown, it can cause depression and affect earning potential for years to come. There is a clear link...
Youth unemployment is harming the mental health of a generation. A sluggish economy will only make things harder Unemployment is bad for anyone, but really hard on the young. That’s because prolonged periods of worklessness in your late teens or early 20s scar you for life. As academic studies have shown, it can cause depression and affect earning potential for years to come. There is a clear link between poor mental health and being unemployed. That’s why Alan Milburn’s probe into youth unemployment won’t be one of the government-commissioned reports that is quickly filed away and allowed to gather dust. It makes uncomfortable reading for ministers. The number of people aged 16 to 24 not in education, employment or training (Neets) is rising, and the costs of inactivity are increasing. Britain has a jobs problem, and it’s getting worse. Larry Elliott is a Guardian columnist Continue reading...
Two Wall Street firms initiated coverage on SpaceX , as Elon Musk's company gets ready to launch its public markets debut at the Nasdaq on Friday. Oppenheimer initiated coverage with an outperform rating and a 12- to 18-month price target of $190. That implies a gain of 40% from its IPO price of $135 . In a Thursday note, analyst Timothy Horan wrote that the company's diversified portfolio makes i...
Two Wall Street firms initiated coverage on SpaceX , as Elon Musk's company gets ready to launch its public markets debut at the Nasdaq on Friday. Oppenheimer initiated coverage with an outperform rating and a 12- to 18-month price target of $190. That implies a gain of 40% from its IPO price of $135 . In a Thursday note, analyst Timothy Horan wrote that the company's diversified portfolio makes it attractive for investors. "We see potential for SPCX to leverage terrestrial compute expertise as a bridge (and possible back-up plan) to enable key scale and cost advantages. We see it as the only vertically-integrated AI company with the required capital, data, LLMs, hardware, manufacturing and engineering talent," he wrote. "Its space infrastructure appears structurally advantaged." Horan noted he expects the stock to be volatile, though the stock should gain to start. Meanwhile, New Street Research initiated coverage on company with a $165 12-month price target. That indicates a 22% gain from the IPO price. The firm did not initiate a rating on the stock. That target is based on the company's future growth. Analyst Pierre Ferragu thinks SpaceX will reach $195 billion in revenues by 2030, up from $18.7 billion in 2025, and start turning a net profit starting in 2027. The company posted a net loss in 2025 of $4.9 billion. Ferragu estimates the company in 2027 will be valued at $2.3 trillion, but he notes that estimate could rise if the total addressable market for the company's space business — which New Street is using a low-end market growth assumption to design its forecasts with — is larger-than-expected. "If though the whole opportunity grows to our high-end estimate and SpaceX wins 50% share, it would imply a fair value of $330/ share," Ferragu wrote. The two firms are the first banks to start coverage. Most of the major Wall Street banks are restricted until after the IPO to put out their recommendations because they were underwriters on the deal and can't appear...
imaginima/E+ via Getty Images As investors navigate a market marked by ongoing uncertainty around interest rates, economic growth, and commodity prices, many are looking for stocks that offer both value and strong price performance. In the energy sector, only three companies currently meet the cheap high flyers, earning valuation grades of A or better while also posting impressive momentum scores....
imaginima/E+ via Getty Images As investors navigate a market marked by ongoing uncertainty around interest rates, economic growth, and commodity prices, many are looking for stocks that offer both value and strong price performance. In the energy sector, only three companies currently meet the cheap high flyers, earning valuation grades of A or better while also posting impressive momentum scores. Leading this select group is ProPetro Holding Corp. ( PUMP ). The oilfield services company stands out with an A+ momentum grade, the highest possible score, alongside an A- valuation grade. With a market capitalization of $1.85 billion, ProPetro has delivered exceptional market performance while still trading at an attractive valuation. The second company on the list is KLX Energy Services Holdings, Inc. ( KLXE ). Despite its much smaller market capitalization of just $60.53 million, KLX combines an A momentum grade with an outstanding A+ valuation grade, making it the most undervalued stock among the three. Its combination of strong price strength and deep value makes it a particularly noteworthy name in the energy sector. Rounding out this elite group is HF Sinclair Corporation ( DINO ), a refining and marketing company with a market capitalization of $12.76 billion, the largest of the three. HF Sinclair earns an A- momentum grade and an A- valuation grade, demonstrating that even larger, more established energy companies can still offer a compelling blend of value and market performance. Momentum grades are assigned on a scale from A+ to F, with A+ representing the strongest price momentum. Valuation grades use the same scale, with A+ indicating the most undervalued stocks and F the most overvalued. The three energy stocks currently meeting these criteria are: ProPetro Holding Corp. ( PUMP ) - Momentum: A+, Valuation: A- KLX Energy Services Holdings, Inc. ( KLXE ) - Momentum: A, Valuation: A+ HF Sinclair Corporation ( DINO ) - Momentum: A-, Valuation: A- Energy ETFs: (...
NEW YORK, June 11, 2026--KKR, together with the Kuwait Investment Authority (KIA), NVIDIA (NASDAQ: NVDA) and Vistra (NYSE: VST) today announced the launch of Helix Digital Infrastructure ("Helix"), a new company designed to deliver integrated infrastructure at the speed and scale required for hyperscalers to meet accelerating artificial intelligence (AI) demand. As building AI infrastructure becom...
NEW YORK, June 11, 2026--KKR, together with the Kuwait Investment Authority (KIA), NVIDIA (NASDAQ: NVDA) and Vistra (NYSE: VST) today announced the launch of Helix Digital Infrastructure ("Helix"), a new company designed to deliver integrated infrastructure at the speed and scale required for hyperscalers to meet accelerating artificial intelligence (AI) demand. As building AI infrastructure becomes increasingly complex, Helix will serve as a single coordination point for hyperscalers’ data cent