Orlando, FL -- (SBWIRE) -- 10/17/2013 -- 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 Alcatel Lucent SA (ADR) (NYSE:ALU), Alcoa Inc (NYSE:AA).
Alcatel Lucent SA (ADR) (NYSE:ALU) shares gained 1.10% to $3.69. 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.
Are investors worried about the recent updates with ALU? Find out with a free trend analysis HERE
Alcoa Inc (NYSE:AA) shares climbed 1.79% to $8.53. The company on Oct. 16 said that the massive smelter run by the Ma'aden-Alcoa joint venture has temporarily shut down one of two potlines due to problems during ramp-up. Repairs at the $10.8 billion facility, which Alcoa owns and runs with Saudi Arabian Mining Co (>> Saudi Arabian Mining Company (Ma'aden)), could stretch well into next year, and Alcoa said it will now accelerate the ramp-up of the second, unaffected line.
Is AA going to continue its rally or drop like a rock? Find out with a free trend analysis HERE
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