Boston, MA 02/28/2014 (wallstreetpr) – Alcoa Inc (NYSE:AA) which recently announced that its Port Henry aluminum plant in Australia will be shutdown later in the year has now made an important move for its future and the future of the U.S. The company signed-up to what is called lightweight metals; an ambitious initiative by President Obama to ensure enhanced manufacturing hubs in the country. About four manufacturing hubs have been planned for in the latest lightweight metals initiative, but the country hopes it would rival Germany that already has more than 60. Alcoa Inc (NYSE:AA) is among other things concerned about using its technology to do something about unemployment in the U.S. The company is beginning to get orders for special type of aluminum used to build auto bodies. Ford Motor Company (NYSE:F) and General Motors Company (NYSE:GM) have already announced commitment to use aluminum in their next generation of light vehicles.
Valero Energy Corporation (NYSE:VLO) now carries consensus stock rating of “buy” following comments from 19 brokerages covering it. A total of six analysts have a “hold” view on the stock, while 12 analysts have a “buy” recommendation on the stock. The average price target from the analysts is $54. Currently the stock of VLO is trading in the range of $48.51 per share, having lost more than 4 percent of its value in the previous session. Valero Energy Corporation (NYSE:VLO) was one of the big movers on Nasdaq as refinery stocks face challenging times in the market.
Chico’s FAS, Inc. (NYSE:CHS) just released latest quarterly results which showed that it realized net income of $5.9 million in the fourth quarter. That compared with $32.7 million in the corresponding a year ago. The fourth quarter adjusted earnings per share were 4 cents, but the company had 20 cents in adjusted earnings on diluted shares. The full-year 2013 net income was $137 million or 85 cents per share, compared with $182.2 million or $1.09 per share in 2012. Net sales in the fourth quarter were $610.2 million, compared with $651.9 million, thus a 6.4 percent decrease. In full-year 2013, net sales came in at $2.586 billion, compared with net sales of $2.581 billion in 2012, thus a decrease of 0.2 percent. The stock of Chico’s FAS, Inc. (NYSE:CHS) was down 8.5 percent to $16.47 in the previous session.
