Trump's Tariffs Were Supposed to Help Steel Stocks. So Why Are They Down in 2018? [The Motley Fool]
Alcoa Corporation (AA)
Last alcoa corporation earnings: 4/22 04:10 pm
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Source: The Motley Fool
Even though tariffs have bumped the prices for domestic steel and aluminum, these four stocks are down more than 15% this year. When the Trump administration announced that it was going to slap tariffs on steel and aluminum, shares of steel stocks jumped considerably. It was pretty simple to draw the line from 25% and 10% import duties on steel and aluminum, respectively, to the stock prices of the two metals' producers. Yet the price boost from tariffs has not led to the outcome most would expect. Since the announcement of the tariffs, shares of aluminum producers Alcoa ( NYSE:AA ) and Century Aluminum ( NASDAQ:CENX ) , and steel producers United States Steel ( NYSE:X ) and AK Steel Holding ( NYSE:AKS ) are all down more than 16%. Let's take a look at why the Trump tariff hasn't been the salve for each of these steel and aluminum stocks. Image source: Getty Images. Tariffs are good for business -- unless you have manufacturing elsewhere
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- Industrial leader Dag J. Opedal elected to be the new Chair of HydrogenPro ASA [Yahoo! Finance]Yahoo! Finance
- Alcoa raised at Morgan Stanley on cost saving measures [Seeking Alpha]Seeking Alpha
- Alcoa Co. (NYSE: AA) was upgraded by analysts at Morgan Stanley from an "underweight" rating to an "equal weight" rating. They now have a $36.50 price target on the stock, up previously from $28.50.MarketBeat
- Alcoa Co. (NYSE: AA) was downgraded by analysts at StockNews.com from a "hold" rating to a "sell" rating.MarketBeat
- Alcoa Corporation (NYSE:AA) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
AA
Earnings
- 4/17/24 - Miss
AA
Sec Filings
- 4/24/24 - Form DEFA14A
- 4/18/24 - Form DEFA14A
- 4/17/24 - Form DEFA14A
- AA's page on the SEC website