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-0.00326351911016452 -0.00189326706898588 -0.00342917997870074 0.00295586321145419 -0.00331558395456168 -0.00603478878239268 -0.00177493787717437 -0.00792805585137855
Stock impact report

Alcoa -11%, worst on NYSE, after outlook cut on 'significant' tariff impact [Seeking Alpha]

Alcoa Corporation (AA) 
Last alcoa corporation earnings: 4/22 04:10 pm Check Earnings Report
US:NYSE Investor Relations: investors.alcoa.com
Company Research Source: Seeking Alpha
Alcoa -11%, worst on NYSE, after outlook cut on 'significant' tariff impactAlcoa (AA-11.7%) is today'sbiggest decliner on the NYSE, as aluminum tariffs that were meant to protect the industry from foreign competitors instead take a bite out of the earnings of the largest U.S. producer.Alcoacut its 2018 profit projection as tariffs on imported aluminum present what CEO Roy Harvey called a “significant” headwind.In itsearnings conference call, Harvey focused on the tariffs slapped on shipments from Canada, where Alcoa wasexpected to make 28% of its primary aluminumthis year.“Everyone assumed as did we that there would be an exception in place for Canadian production, so that has turned out not to be the case and that is a pretty significant impact for us,” the CEO said.While demand remains strong, Harvey said he is concerned that industrial customers eventually could move operations outside of the U.S. so they can buy metal that is not subject to the tariffs.See all stocks on the move » Show less Read more
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