UPDATE 1-New Hydro CEO aims to boost results, puts Rolled unit up for review [Reuters]
Alcoa Corporation (AA)
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Source: Reuters
New Hydro CEO aims to boost results, puts Rolled unit up for review OSLO (Reuters) - Norsk Hydro’s new chief executive vowed on Wednesday to boost the aluminum producer’s profitability and enforce stricter capital discipline following 15 months of production outages that have dragged down its earnings and share price. On her first day as CEO, Hilde Merete Aasheim announced that the future of the Rolled Products division will be reviewed, and said all Hydro’s businesses would face stricter scrutiny in terms of how they spend the company’s cash. “We’ve invested a lot, over many years, and now is the time to boost the return on those investments and reap greater profits,” Aasheim told Reuters in an interview at Hydro’s headquarters in Oslo. The company said earlier in the day it would present revised financial targets in the third quarter. Hydro’s Alunorte alumina refinery in Brazil, a key supplier to the global aluminum industry, is operating at half capacity following a spill in Februa
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News
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- Alcoa Co. (NYSE: AA) had its price target raised by analysts at BMO Capital Markets from $35.00 to $37.00. They now have a "market perform" rating on the stock.MarketBeat
AA
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- 4/17/24 - Miss
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- 4/18/24 - Form DEFA14A
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- AA's page on the SEC website