Orlando, FL -- (SBWIRE) -- 10/16/2013 -- Hot Stock Profits provides investors and traders with valuable trading tools and content as well as micro-cap stock alerts via eMail and text messages. To Join Our Text Message Alerts Service Just Text The Word Stocks To 555888 From Your Cell Phone. Our Focus Today Is On Alcoa Inc (NYSE:AA), Alcatel Lucent SA (ADR) (NYSE:ALU).
Alcoa Inc (NYSE:AA) shares declined 0.83% to $8.38. The company on Oct. 8 reported a sequential and year-over-year increase in third quarter profit for 2013 driven by strong operating performance and productivity gains, in spite of lower metal prices. Alcoa reported third quarter 2013 net income of $24 million, or $0.02 per share, which includes $96 million of special items primarily tied to optimizing the Company's upstream portfolio. Adjusted net income was $120 million, or $0.11 per share. The Company reported third quarter 2013 revenue of $5.8 billion, steady compared to second quarter 2013 and the year ago period, despite a 3 percent sequential and 7 percent year-over-year decline in the London Metal Exchange (LME) cash price of aluminum.
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Alcatel Lucent SA (ADR) (NYSE:ALU) shares declined 3.95% to $3.65. The company on Oct. 7 will slash 15,000 jobs, people familiar with the matter said, the latest step in the telecommunications-equipment maker’s plan to reshape itself as a smaller company focused on a handful of core businesses. The money-losing company plans to announce Tuesday that it will cut the jobs, largely in older technologies such as second- and third-generation wireless equipment, the people said. The company also plans to add roughly 5,000 new jobs in growth areas, such as Internet-routing, one of the people added. The announcements will be part of a morning union meeting.
Additionally, analyst Simon Leopold at Raymond James downgraded ALU to Market Perform from Strong Buy, and the removal of his target price of $3.50, as he commented that recent the 182-percent rise in the shares “mostly reflects restructuring expectations.” Subsequent to taking a “fresh look” at a number of factors like pension liabilities and net operating losses, calculated on the sum of its parts, Leopold wrote that the stock could actually be worth $4.50.
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