All articles tagged with #alcoa
U.S. stock futures were little changed after news of a 10-day Israel-Lebanon ceasefire, while the three major indexes closed higher on Thursday on peace hopes; Netflix slid more than 9% after hours on a weak Q2 forecast and Hastings stepping down from the board, and Alcoa missed earnings, with more financials due to report before Friday’s open.
Australia’s environment minister announced a $55 million enforceable undertaking against Alcoa for clearing known habitat in Western Australia’s northern jarrah forests without EPBC Act approval (2019–2025), including about 2,000 hectares cleared. The penalty funds environmental measures: $40m for permanent ecological offsets, $5m to conservation programs, $6m for invasive species control, and $4m for invasive fauna research. Separately, Watt granted an 18‑month exemption allowing further clearing while the government reviews a proposed expansion of Huntly and Willowdale operations to 2045. Alcoa will cap clearing at 800 hectares per year under the exemption and step up rehabilitation to 1,000 hectares per year by 2027. The decision, praised by some as necessary for resource security, drew criticism from biodiversity groups who say the national interest exemption sets a dangerous precedent and that rehabilitation cannot restore the forest’s original state.
Alcoa's stock slipped 5% as the company announced a new CEO and president, while Nio's shares dipped after denying reports of capital raising. Li Auto's U.S.-traded shares dropped 9% following Huawei's entry into the EV market. Williams-Sonoma's stock jumped 9% after an investment firm revealed a 5% stake. GE HealthCare Technologies gained 3% after announcing a cash dividend. JD.com's U.S.-listed shares slid 2% amid concerns over China's economy.
Aluminum maker Alcoa surprised investors by announcing a new CEO, causing the stock to drop.