$AA

Alcoa's Alumar aluminum smelter in Brazil completed its internal investigation into a September fatality during lighting maintenance. The employee died after being found unconscious. Alcoa emphasized safety controls before maintenance work. Investigations by partners and authorities are ongoing.

US analysts on October 16, 2026, showed cautious optimism, with price target reductions outpacing increases. Tech, AI, aerospace, defense, and biotech sectors attracted favorable ratings, while consumer discretionary and financials faced pressure. Abbott Labs (ABT) kept Buy rating with $135 target. Absci (ABSI) raised target to $20. AeroVironment (AVAV) initiated with Buy/Outperform ratings. Applied Materials (AMAT) cut target to $580. Analysts favored resilient companies amid recession risks.

Alcoa Corporation's average 12-month price target was reduced from $62.64 to $61.71 by 14 analysts, with a range of $48 to $83.53. This implies a 53% upside from the Oct. 15 closing price. The consensus rating remains 'Buy' among 19 analysts.

US stock indexes fell Friday, led by tech sector declines. The S&P 500 and Nasdaq dropped 0.5% and 1.3% respectively. Micron, AMD, Broadcom, and Intel saw notable losses. Netflix fell 2.4% after leadership changes. Banks like JPMorgan and Citigroup rose. Treasury yields increased to 5.12%. Fed rate hike odds for December rose to 75.9%. Tesla dropped 1.1% after unveiling a new Roadster. Alcoa surged 6.5% on earnings. Oil prices remained high due to supply concerns.

Independent Bank shares rose 5% after Q3 earnings beat estimates, with net interest income also exceeding forecasts. Moog gained 4% following a Morgan Stanley upgrade and price target increase. Fox Factory dropped 9% after its CEO stepped down and revenue outlook was trimmed. J.B. Hunt fell 3% on mixed Q3 results. Tesla shares declined 1% after unveiling its second-generation Roadster. Alcoa rose 6% on better-than-expected Q3 earnings.

Alcoa Corp. plans to sell part of its Massena East site for up to $315M, with the first $50M-$65M expected upon closing within six months. The deal supports its strategy to generate $500M-$1B from asset sales by 2030. Alcoa also announced progress on its $4.1B acquisition of South32's AliGroup, with a completion expected in early 2027. The company reported Q3 revenue of $3.7B, down 7% from Q2, due to lower aluminum prices and shipments.

Fastenal (FAST) and Home BancShares reported Q3 earnings on Oct 14, with FAST showing 15.5% sales growth. BNY (BK), Interactive Brokers (IBKR), and Alcoa (AA) reported on Oct 15, with BK up 12% in revenue, IBKR raising its dividend, and AA signing a $315M land sale. Ares Management (ARES) is set to report on Oct 29.

Century Aluminum shares rose 5.58% to $36.11 on Friday, driven by Alcoa's strong earnings and tight aluminum supply. Alcoa reported $1.82 adjusted EPS, beating estimates, and noted low global inventories. Century, a major U.S. aluminum producer, benefits from tariffs and plans expansion. It trades at a P/E of 5.5 and is up 5% over the past year. Results are expected soon.

Tesla shares rose 5% after unveiling a flying car, the Roadster, with SpaceX tech. SpaceX gained 1% on the news and a price target increase. Alcoa climbed 2% on strong earnings. CoreWeave dropped 4% amid debt concerns. Netflix fell 1.5% after a leadership change and job cuts. Travelers declined 4% despite beating earnings expectations.

U.S. stock futures rose on Friday, with S&P 500 and Nasdaq set for weekly declines. Tesla shares gained 5% premarket after unveiling its Roadster model. Strategy fell 3% due to potential MSCI index exclusion. Netflix dropped 2% following a leadership change. CoreWeave declined 3.8% amid AI sector scrutiny. Cohen & Steers surged 5.8% on strong Q3 inflows. Alcoa gained 2.5% on better-than-expected earnings. Site Centers rose 18.3% after announcing a special dividend and asset sale.