AA

Interested in South32 Limited? Here are five stocks we like better. FY26 earnings and cash flow strengthened: Underlying EBITDA rose 28% to $2.5 billion and underlying earnings increased 55% to $1 billion, while operating cash flow reached $610 million despite $700 million invested in Hermosa. South32 ended the period with $283 million in net cash and declared a 5.4-cent-per-share dividend. Portfolio shift toward base metals: South32 plans to sell its aluminum assets to Alcoa for up to $5.6 billion in enterprise value, subject to conditions and expected completion in the second half of FY27. The move will refocus the company on copper, zinc and other base metals, with Hermosa and Sierra Gorda identified as key growth priorities. Growth projects advanced: Hermosa’s Taylor project remains on schedule, while Sierra Gorda’s expanded reserves extend its initial mine life to about 19 years and support future production increases. Cannington is also assessing stockpile processing and mine-life extensions, though GEMCO continues to face water-management and weather-related uncertainty. South32 (LON:S32) reported stronger FY26 earnings and cash flow as its base metals business benefited from operating performance, commodity-price tailwinds and cost management, while the company outlined plans to reshape its portfolio around copper, zinc and other base metals. Chief Executive Officer Matt Daley said group underlying EBITDA increased 28% to $2.5 billion and underlying earnings rose 55% to $1 billion. Cash flow from operations increased by $352 million to $610 million, after the company invested $700 million in developing future base-metals production at the Hermosa project. → Quantum Computing Is Raising the Stakes for Cybersecurity: 5 Stocks to Watch South32 ended the period with net cash of $283 million after returning $327 million to shareholders. The board declared a fully franked ordinary dividend of 5.4 cents per share, representing $242 million for the June 2026 half-year, and extended its capital-management program through September 2027. The company said $209 million remains to be returned under that program. Daley said South32’s July 1 agreement to sell its aluminum value-chain assets to Alcoa for enterprise value of up to $5.6 billion, plus Alcoa’s assumption of more than $1 billion in related rehabilitation provisions, would reposition the company as a base-metals-focused business. Completion is expected in the second half of FY27, subject to satisfying transaction conditions. → NVIDIA Reveals $21 Billion SpaceX Stake: Signal of Confidence or Circular Financing? “The transaction will unlock significant value for shareholders and reposition South32 as the leading base metals company on the ASX,” Daley said. Chief Financial Officer Sandy Sibenaler said the current capital-management framework, including a payout of 40% of underlying earnings, will remain in place until the sale closes. Underlying earnings during this period will include contributions from the aluminum value-chain assets. → Berkshire Boosts Its Bet: This AI Hyperscaler Is Now a Top-3 Holding After completion, South32 expects capital allocation to place greater emphasis on growth investments while continuing to fund safe and reliable operations and maintain a strong balance sheet, Sibenaler said. The company identified Hermosa and Sierra Gorda’s fourth grinding line as committed growth projects, with dividends, acquisitions and other shareholder returns competing for excess capital after those priorities. Sibenaler also said South32 had about AUD 1.6 billion in franking credits. Half of an upfront distribution of Alcoa stock is expected to be delivered through a fully franked in-specie distribution. The company will consider franking future dividends as appropriate. South32 said production from projects under construction or already approved is expected to increase by 55%, supported by investments in Hermosa and Sierra Gorda. At the Hermosa Taylor lead-silver project, Daley said shaft development remained on schedule following the project’s earlier capital-expenditure and timing reset. The ventilation shaft was approaching its bottom, while the main shaft was tracking the ventilation-shaft schedule. Extension of the decline into the Taylor orebody was also progressing as planned, providing early access to ore. Surface processing infrastructure, including primary and secondary mills and flotation cells, has been installed. Five of six substations are also in place, including the main substation needed to bring primary grid power to the project. Daley said the project’s contingency remained intact. “Hermosa is progressing really well,” Daley said, adding that Taylor is expected to provide financial returns for decades after completion. South32 is also continuing exploration and study work at Hermosa’s Peak deposit, which could support future copper production through an integrated development with Taylor. South32 announced a 61% increase in the ore reserve at its Sierra Gorda operation to 1.1 billion tonnes. The updated reserve extends the initial reserve life by about five years to 19 years, according to Daley, and the orebody remains open at depth. Sierra Gorda is expected to increase production by 5% in FY27 and another 2% in FY28, supported by higher planned copper grades. Beyond that, South32’s approved fourth grinding line is expected to lift production by about 30% from FY31. At Cannington, the company has incorporated low-grade stockpile material into expected ore processed in order to use available plant capacity. Daley said South32 processed roughly 200,000 tonnes of the material last year as a test of recoveries and its interaction with the paste-filter system. The low-grade stockpile material has a grade ratio of approximately 2.5-to-1 relative to mined material, although grades vary because the stockpile is historical. South32 will prioritize underground material for processing but sees an opportunity to process stockpiles that have already been mined and are located near the existing crusher. The company’s plant has historically processed as much as 3 million tonnes, compared with current guidance of around 2.1 million tonnes, suggesting potential processing upside. South32 is also evaluating underground and open-pit life-extension opportunities at Cannington. Daley said GEMCO has begun FY27 well during the dry season, but South32’s guidance range reflects uncertainty over water management and weather conditions ahead of the next wet season. Recent cyclones and high rainfall have restricted access to mining areas. South32 is working with the Northern Territory government and traditional owners on permits that would allow larger volumes of water to be discharged through different methods. Planned capital work includes additional piping to move water between areas of the operating lease. The company currently models GEMCO’s mine life through 2033, or about six years at current mining rates. South32 is examining potential in northern leases and areas east and south of current operations, with the northern option requiring early exploration work. Daley also addressed a fatal incident at Worsley Alumina in March 2026 that killed a colleague, Simon. He said South32 had enhanced awareness of existing procedures and controls for working at heights and was continuing to seek ways to eliminate or reduce fall-from-height risks. “As South32 CEO, I’m unwavering in my commitment to a workplace free from fatalities,” Daley said. South32 Limited operates as a diversified metals and mining company in Australia, India, China, Japan, the Middle East, Mozambique, the Netherlands, Brazil, Russia, South Africa, South Korea, the United States, and internationally. The company operates through Worsley Alumina, Brazil Alumina, Brazil Aluminium, Hillside Aluminium, Mozal Aluminium, Sierra Gorda, Cannington, Hermosa, Cerro Matoso, Illawarra Metallurgical Coal, Australia Manganese, and South Africa Manganese segments. It has a portfolio of assets producing bauxite, alumina, aluminum, copper, silver, lead, zinc, nickel, metallurgical coal, manganese, ferronickel, and other base metals. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "South32 H2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.

Interested in South32 Limited? Here are five stocks we like better. FY26 earnings and cash flow improved: Underlying EBITDA rose 28% to $2.5 billion, while underlying earnings increased 55% to $1 billion. South32 ended the period with $283 million in net cash and declared a fully franked dividend of 5.4 cents per share. South32 is reshaping around base metals: The proposed sale of its aluminium assets to Alcoa, valued at up to $5.6 billion plus assumed rehabilitation liabilities, is expected to close in the second half of FY27 and will sharpen the company’s focus on copper and zinc. Growth is centered on Sierra Gorda and Hermosa: Sierra Gorda’s reserves rose 61% to 1.1 billion tons, while an approved fourth grinding line could increase production by about 30% from FY31. Hermosa construction is progressing, although manganese operations at GEMCO remain affected by water-management and permitting uncertainty. South32 (LON:S32) reported higher earnings and cash flow for FY26 as its base-metals operations benefited from commodity prices and operating performance, while the miner outlined plans to sharpen its focus on copper and zinc following the proposed sale of its aluminium value chain assets. Chief Executive Officer Matt Daley, speaking on his first annual results call as CEO, said group underlying EBITDA rose 28% to $2.5 billion and underlying earnings increased 55% to $1 billion. Cash flow from operations rose by $352 million to $610 million, even after the company invested about $700 million in the Hermosa project to support future base-metals production. → What Rising Delivery Forecasts Say About Rivian's Stock Prospects South32 ended the period with net cash of $283 million after returning $327 million to shareholders. The board declared a fully franked ordinary dividend of 5.4 cents per share, totaling $242 million, for the June 2026 half-year. It also extended its capital-management program through September 2027, with $209 million remaining to be returned to shareholders. Daley opened the call by addressing a fatal incident at Worsley Alumina in March 2026, in which employee Simon Mukwarami died. Daley said the event had a “profound impact” on the company, particularly the Worsley team, and said South32 had taken steps to reinforce procedures and controls for working at heights. → NVIDIA Reveals $21 Billion SpaceX Stake: Signal of Confidence or Circular Financing? “As South32 CEO, I am unwavering in my commitment to a workplace free from fatalities,” Daley said. On July 1, South32 announced an agreement to sell its aluminium value chain assets to Alcoa for an enterprise value of up to $5.6 billion, plus Alcoa’s assumption of related rehabilitation provisions exceeding $1 billion. Daley said the transaction would simplify the company and reposition it as a base-metals-focused business with higher-margin assets in tier-one jurisdictions. → Berkshire Boosts Its Bet: This AI Hyperscaler Is Now a Top-3 Holding The company expects the transaction to close in the second half of FY27, subject to required conditions and approvals. Daley said South32 expects 55% production growth from projects that are under construction or approved, led by development work at Sierra Gorda in Chile and the Hermosa project in Arizona. At Sierra Gorda, South32 announced a 61% increase in ore reserves to 1.1 billion tons, extending the initial reserve life by roughly five years to 19 years. The company expects production to rise 5% in FY27 and a further 2% in FY28, supported by higher planned copper grades and improved mineralogy in mining phases seven and eight. Daley said additional drilling, totaling about 85,000 meters, improved confidence in the ore body and allowed the company to convert mineral resources to reserves. He said lower clay content in the planned mining areas should support improved mill throughput and recoveries. A fourth grinding line at Sierra Gorda, which has been approved, is expected to lift production by approximately 30% from FY31. At Hermosa, the company is advancing the Taylor zinc-lead-silver project. Daley said ventilation-shaft sinking was progressing in line with the company’s latest update, while primary and secondary mills and flotation cells had been installed. South32 also continues exploration and study work at the nearby Peak deposit, which could support potential future copper production through an integrated development with Taylor. South32 is also evaluating ways to extend the life of its Cannington operation, including processing lower-grade stockpile material to make greater use of available mill capacity. Daley said Cannington’s mill can operate at an annualized rate of about 3 million tons, compared with current throughput of roughly 2.1 million tons. The company is progressing a feasibility study for an open-pit development option and is assessing how an open pit could operate alongside the existing underground mine. Daley said an integrated plan could support additional resource-to-reserve conversion and potentially extend mine life into the end of the next decade or beyond. South32 expects to provide an update around its half-year results. Meanwhile, Australia Manganese’s GEMCO operation faces uncertainty related to water management and the timing of the next wet season. Daley said South32 is working with the Northern Territory government and traditional owners on permits to discharge larger water volumes. Required works largely involve pipework and water outlets, he said, but permitting will take time. Daley said the company’s primary focus for manganese is safe and stable operations, while capital allocation will increasingly favor copper and zinc growth. Chief Financial Officer Sandy Sibenaler said South32’s existing 40% payout ratio would remain in place until completion of the aluminium transaction. However, she said the company does not intend to retain a fixed payout ratio after the sale closes. Under the post-transaction framework, dividends will compete with buybacks, growth investments and other uses of excess capital based on their potential to create shareholder value. Sibenaler said South32 would continue to prioritize safe and reliable operations, a strong balance sheet, and committed growth and life-extension projects, including Taylor. The company has not set a target net-cash position for the future. Sibenaler said South32 sees value in maintaining regular shareholder distributions but will assess capital returns alongside investment opportunities. Daley said the company’s near-term priorities are operating assets safely and reliably, completing the aluminium transaction, and delivering growth at Hermosa and Sierra Gorda. While South32 will continue to examine market opportunities, he said it was not seeking acquisitions simply to replace divested assets. “For us, it is all about value rather than growth for the sake of growth,” Daley said. South32 Limited operates as a diversified metals and mining company in Australia, India, China, Japan, the Middle East, Mozambique, the Netherlands, Brazil, Russia, South Africa, South Korea, the United States, and internationally. The company operates through Worsley Alumina, Brazil Alumina, Brazil Aluminium, Hillside Aluminium, Mozal Aluminium, Sierra Gorda, Cannington, Hermosa, Cerro Matoso, Illawarra Metallurgical Coal, Australia Manganese, and South Africa Manganese segments. It has a portfolio of assets producing bauxite, alumina, aluminum, copper, silver, lead, zinc, nickel, metallurgical coal, manganese, ferronickel, and other base metals. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "South32 H2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.

Interested in Agilent Technologies, Inc.? Here are five stocks we like better. Agilent exceeded expectations in Q3 fiscal 2026, reporting $1.88 billion in revenue, 7.3% core growth and adjusted EPS of $1.56, up 14% year over year. Operating margin expanded to 27.2% excluding tariff refunds. Growth was led by pharma, China and applied markets, including 12% pharma growth, more than 70% growth in GLP-1-related revenue and 9% growth in China. New instrument launches and replacement-cycle demand also supported a book-to-bill ratio above one for the 10th consecutive quarter. Agilent raised its fiscal 2026 outlook to $7.49 billion-$7.51 billion in revenue and adjusted EPS of $6.12-$6.15 excluding tariff refunds. Management also highlighted early pharmaceutical reshoring orders and a potential $1 billion reshoring opportunity through 2030. Alcoa’s Gallium Project Opens a New Door Beyond Aluminum Agilent Technologies (NYSE:A) reported third-quarter fiscal 2026 revenue of $1.88 billion, with core revenue growth of 7.3%, exceeding the high end of its guidance range. The company said earnings per share were $1.56 excluding tariff-refund benefits, up 14% from a year earlier and $0.06 above the top of its guided range. Including a $20 million net benefit from tariff refunds, EPS was $1.62. CEO Padraig McDonnell said the results reflected improving conditions in key markets as well as gains from the company’s Ignite Operating System, which has focused on pricing, procurement, supply-chain agility, commercial execution and operational discipline. Operating margin was 27.2% excluding the tariff-refund benefit, up 210 basis points year over year. Including the refunds, operating margin was 28.3%. → What Rising Delivery Forecasts Say About Rivian's Stock Prospects Gold and Bitcoin Are Rebounding—2 ETFs Give Investors a Different Kind of Exposure Pharma revenue grew 12% during the quarter, led by double-digit biotech growth and mid-single-digit small-molecule growth. McDonnell said smaller and midsize biotechnology customers have begun increasing spending as funding conditions improve. Agilent’s Advanced Therapeutics division, which includes its NASD and BioVectra specialty CDMO operations, grew nearly 30%. The company also reported more than 70% growth in GLP-1-related revenue, with contributions from both its CDMO and analytical laboratory businesses. Excluding the CDMO business, Agilent said biopharma revenue increased 9%. → NVIDIA Reveals $21 Billion SpaceX Stake: Signal of Confidence or Circular Financing? 3 Contrarian Trades for a Market That Looks Too Hot Chemicals and advanced materials grew 7%, exceeding the company’s mid-single-digit expectation. Advanced materials posted double-digit growth, supported by semiconductor-related demand for spectroscopy and vacuum tools. Environmental and forensics revenue increased 5%, while PFAS-related revenue rose 20% despite a difficult comparison period. Diagnostics and clinical revenue grew 6%, slightly below Agilent’s expectations, but the company said underlying pathology orders rose at a double-digit rate. McDonnell said companion diagnostics grew in the mid-teens and genomics returned to high-single-digit growth. Simon May, president of the Life Sciences and Diagnostics Markets Group, said pathology order entry was strong, with a robust backlog entering the fourth quarter and continued adoption of the Dako Omnis platform. → Berkshire Boosts Its Bet: This AI Hyperscaler Is Now a Top-3 Holding China was a major source of upside, with revenue increasing 9% against Agilent’s prior expectation for flat growth. Growth in the region was led by double-digit pharma and food performance, as well as strength in advanced materials. McDonnell said the company saw limited benefit from government stimulus during the quarter and attributed the results to commercial execution, local capabilities and competitive wins with CXOs, pharmaceutical customers and testing laboratories. Agilent said its instrument revenue grew at a high-single-digit rate, with low-double-digit liquid chromatography growth and low-single-digit gas chromatography growth. The company recorded a book-to-bill ratio above one for the 10th consecutive quarter, indicating orders met or exceeded revenue. McDonnell cited demand tied to liquid and gas chromatography replacement cycles, including customer upgrades to the Infinity III LC platform. He also highlighted the company’s newest product launches, including the 9500 Triple Quad ICP-MS, the 8890B and 8860B gas chromatography systems, and the Altura family of analytical columns. The 9500 ICP-MS began shipping in late July and has already surpassed Agilent’s ramp-to-volume target, according to McDonnell. Its order funnel exceeds $60 million. Orders for the new gas chromatography systems exceeded company expectations by more than two times during their first two months of availability. Agilent also said the number of new accounts adopting biopharma Altura columns increased 28% sequentially. The company completed its Biocare Medical acquisition in late June, and CFO Adam Elinoff said Biocare contributed $10 million in third-quarter revenue. The company expects about $23 million of Biocare revenue in the fourth quarter. Management said pharmaceutical reshoring is beginning to create instrument and service demand. Agilent booked its initial pharma reshoring orders during the third quarter, earlier than expected, including orders from five of the world’s 10 largest pharmaceutical companies. McDonnell reiterated the company’s estimate of a roughly $1 billion reshoring opportunity through 2030 and said Agilent expects to capture at least one-third of that opportunity. He said revenue from the trend is expected to begin building in fiscal 2027, though quarterly contributions may not be linear. Agilent also sees opportunity from semiconductor capacity investments and AI infrastructure spending. The company said semiconductor-related demand could support advanced materials growth over the medium term, with instrument demand typically emerging 18 to 24 months after fab construction. Management noted that semiconductor manufacturing also creates longer-term PFAS testing demand. Gross margin was 56.4% in the third quarter, or 54.9% excluding the net tariff-refund benefit. Elinoff said the ex-refund gross margin increased 180 basis points from the prior year due to incremental volume leverage and Ignite-related improvements. Operating cash flow was $519 million and free cash flow was $439 million, representing a 96% conversion of non-GAAP net income. Agilent repurchased $78 million of stock and paid $72 million in dividends during the period. Following a $600 million senior-notes offering completed alongside the Biocare transaction, the company ended the quarter with net leverage of one turn. For fiscal 2026, Agilent raised its outlook for reported revenue to $7.49 billion to $7.51 billion, representing 5.8% to 6.0% core growth. The revised midpoint is 65 basis points above its prior forecast. The company now expects full-year EPS of $6.18 to $6.21, including the third-quarter tariff-refund benefit. Excluding that benefit, it expects EPS of $6.12 to $6.15, representing 10% growth at the midpoint. Fourth-quarter reported revenue is projected at $1.98 billion to $2.0 billion. Fourth-quarter core revenue growth is expected to be approximately 5.2% to 6.2%. Fourth-quarter EPS is forecast at $1.71 to $1.74, representing growth of 8% to 9%. The fourth-quarter outlook does not include any potential future tariff refunds. Elinoff said Agilent continues to expect $1.6 billion to $1.7 billion in operating cash flow for the full year and about $450 million in capital expenditures. He added that the company expects Ignite efficiencies to help offset inflationary pressures related to the Middle East conflict and memory-chip demand. Agilent Technologies is a global provider of scientific instrumentation, consumables, software and services for laboratories across the life sciences, diagnostics and applied chemical markets. The company's product portfolio includes analytical instruments such as liquid and gas chromatographs, mass spectrometers, spectroscopy systems, and laboratory automation solutions, together with reagents, supplies and informatics tools that support measurement, testing and data analysis workflows. Agilent also offers instrument maintenance, qualification and laboratory services designed to help customers improve productivity and comply with regulatory requirements. Founded as a corporate spin-off from Hewlett‑Packard in 1999, Agilent has evolved through a combination of strategic restructuring and acquisitions to concentrate on life sciences, diagnostics and applied laboratories. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Agilent Technologies Q3 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.

This article first appeared on GuruFocus. Stanley Druckenmiller (Trades, Portfolio) recently submitted the 13F filing for the second quarter of 2026, providing insights into his investment moves during this period. Born in 1953 in Pittsburgh, Pennsylvania, Druckenmiller is the President, CEO and Chairman of Duquesne Capital, which he founded in 1981 and converted into a family office in 2010. He managed money for George Soros (Trades, Portfolio) from 1988 to 2000 as the lead portfolio manager for Quantum Fund, famously shorting the British Pound in 1992. Highly influenced by Soros' trading style, Druckenmiller employs a top-down approach that combines long and short positions across stocks, bonds, currencies and futures, making his quarterly filings a must-read for value investors seeking to understand macro-driven capital allocation. Warning! GuruFocus has detected 6 Warning Signs with NTRA. Is NTRA fairly valued? Test your thesis with our free DCF calculator. Stanley Druckenmiller (Trades, Portfolio) added total of 44 stocks, among them: The most significant addition was Alphabet Inc (NASDAQ:GOOGL), with 336,300 shares, accounting for 2.31% of the portfolio and a total value of $120.18 million. The second largest addition to the portfolio was Fox Corp (NASDAQ:FOXA), consisting of 2,204,600 shares, representing approximately 2.21% of the portfolio, with a total value of $114.99 million. The third largest addition was CDW Corp (NASDAQ:CDW), with 743,950 shares, accounting for 2.01% of the portfolio and a total value of $104.63 million. Stanley Druckenmiller (Trades, Portfolio) also increased stakes in total of 14 stocks, among them: The most notable increase was Amazon.com Inc (NASDAQ:AMZN), with an additional 495,800 shares, bringing the total to 541,600 shares. This adjustment represents a significant 1,082.53% increase in share count, a 2.27% impact on the current portfolio, and a total value of $129.09 million. The second largest increase was United Airlines Holdings Inc (NASDAQ:UAL), with an additional 532,300 shares, bringing the total to 794,795. This adjustment represents a significant 202.78% increase in share count, with a total value of $108.08 million. Stanley Druckenmiller (Trades, Portfolio) completely exited 23 of the holdings in the second quarter of 2026, as detailed below: Broadcom Inc (NASDAQ:AVGO): Stanley Druckenmiller (Trades, Portfolio) sold all 195,955 shares, resulting in a -1.8% impact on the portfolio. Option Care Health Inc (NASDAQ:OPCH): Stanley Druckenmiller (Trades, Portfolio) liquidated all 1,868,550 shares, causing a -1.49% impact on the portfolio. Stanley Druckenmiller (Trades, Portfolio) also reduced positions in 10 stocks. The most significant changes include: Reduced Alcoa Corp (NYSE:AA) by 1,307,750 shares, resulting in a -87.57% decrease in shares and a -2.57% impact on the portfolio. The stock traded at an average price of $66.96 during the quarter and has returned -24.03% over the past 3 months and -5.46% year-to-date. Reduced Roku Inc (NASDAQ:ROKU) by 566,135 shares, resulting in a -75.47% reduction in shares and a -1.58% impact on the portfolio. The stock traded at an average price of $121.55 during the quarter and has returned 25.29% over the past 3 months and 45.34% year-to-date. At the second quarter of 2026, Stanley Druckenmiller (Trades, Portfolio)'s portfolio included 95 stocks. The top holdings included 16.6% in Natera Inc (NASDAQ:NTRA), 5.4% in Taiwan Semiconductor Manufacturing Co Ltd (NYSE:TSM), 4.46% in STMicroelectronics NV (NYSE:STM), 2.92% in Insmed Inc (NASDAQ:INSM), and 2.74% in YPF SA (NYSE:YPF). The holdings are mainly concentrated in 10 of all the 11 industries: Healthcare, Technology, Consumer Cyclical, Communication Services, Industrials, Basic Materials, Energy, Consumer Defensive, Financial Services, and Real Estate. This quarter's filing underscores Druckenmiller's dynamic, macro-driven strategy. The aggressive reduction in Alcoa, a cyclical basic materials play, suggests a bearish outlook on commodity prices or a reallocation toward growth-oriented tech and consumer names like Alphabet and Amazon. Meanwhile, the complete exit from Broadcom and Option Care Health indicates a sharp pivot away from semiconductor and healthcare services exposure. For value investors, these moves highlight the importance of monitoring not just what gurus buy, but also what they sell, as Druckenmiller's top-down analysis often signals broader market trends. As always, his concentrated bets in healthcare and technology reveal a continued conviction in innovation-driven sectors, even as he trims positions that may face headwinds in the current economic cycle.

Constellium SE CSTM is scheduled to release second-quarter 2026 results on July 29, before market open.The Zacks Consensus Estimate for CSTM’s second-quarter revenues is pegged at $2.85 billion, indicating growth of 35.4% from the prior-year quarter’s figure. The consensus mark for earnings is pinned at 91 cents per share, which increased 7.1% in the past 60 days. The figure indicates growth of 264% from the year-ago quarter's figure. Image Source: Zacks Investment Research The company delivered better-than-expected results in three of the trailing four quarters while missing the mark in one, the earnings surprise being 77% on average. In the last reported quarter, its earnings of $1.42 per share beat the consensus estimate of 62 cents by 129%. Constellium SE price-eps-surprise | Constellium SE Quote Our proven model does not conclusively predict an earnings beat for CSTM this time. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is not the case here, as elaborated below.Earnings ESP: CSTM has an Earnings ESP of 0.00% as both the Zacks Consensus Estimate and the Most Accurate Estimate are pegged at 91 cents per share. You can uncover the best stocks before they’re reported with our Earnings ESP Filter.Zacks Rank: Constellium presently carries a Zacks Rank of 3. You can see the complete list of today’s Zacks #1 Rank stocks here. The company’s Packaging & Automotive Rolled Products segment is expected to have benefited from higher metal prices. Strong demand for packaging rolled products, reflected in increased order volumes, is also likely to have aided the segment’s revenues. For the second quarter, the Zacks Consensus Estimate for the Packaging & Automotive Rolled Products segment’s total sales is pegged at $1.61 billion, indicating a 9.1% increase sequentially.Higher shipments of aerospace and transportation, industry and defense (TID) rolled products are expected to have supported the Aerospace & Transportation segment’s performance in the to-be-reported quarter. The consensus mark for the segment’s revenues is pegged at $655 million, indicating a 7.6% rise sequentially.Higher metal prices are likely to have aided Constellium’s Automotive Structures & Industry segment’s revenues in the second quarter. The consensus mark for the Automotive Structures & Industry segment’s revenues is pegged at $419 million, indicating a 1% rise sequentially.However, the escalating cost of sales due to higher input costs poses a threat to CSTM’s bottom line. Also, given the company’s extensive geographic presence, its operations are subject to global political risks and foreign exchange headwinds. A stronger U.S. dollar is likely to have hurt Constellium's overseas business in the to-be-reported quarter. CSTM’s shares have surged 25.9% in the past six months against the Zacks Metal Products - Distribution industry’s 16.9% decline. The company’s shares have also fared better than the S&P 500’s increase of 5.2%. Its peers, Alcoa Corporation AA and Ryerson Holding Corp. RYZ, have declined 26.3% and gained 11.8%, respectively, in the same period. Image Source: Zacks Investment Research CSTM is currently trading at a forward 12-month P/E of 9.56X, a premium compared with the industry’s 8.13X. In comparison with Constellium’s valuation, its peers, Alcoa is trading lower and Ryerson Holding is trading higher. AA and RYZ are trading at 7.22X and 18.13X, respectively. Image Source: Zacks Investment Research Constellium is expected to have benefited from healthy demand for packaging rolled products and increased TID rolled product shipments in the second quarter. Also, rising aluminum prices, driven by geopolitical tensions between Israel and Iran, have been supporting domestic producers like CSTM. Disruptions in the Strait of Hormuz, a key Middle Eastern shipping route, have tightened regional supply. As a result, global aluminum prices have increased, benefiting major industry players such as Constellium. Strong demand in the packaging and aerospace markets and a favorable metal pricing environment position CSTM favorably for strong second-quarter results. However, the near-term challenges, such as rising operating costs & expenses, are limiting the company’s near-term prospects. The expensive valuation warrants a cautious approach for existing investors. Potential investors should consider waiting for CSTM's earnings report and clearer signs of recovery before investing in the stock. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Constellium SE (CSTM) : Free Stock Analysis Report Alcoa (AA) : Free Stock Analysis Report Ryerson Holding Corporation (RYZ) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Interested in Alcoa? Here are five stocks we like better. Alcoa shares fell after Q2 2026 earnings missed adjusted EPS estimates and full-year guidance was trimmed due to weather disruptions at an Australian facility. The stock's decline was largely driven by investor unease over Alcoa's announced 4.7 billion dollar acquisition of South32's bauxite, alumina, and aluminum assets. Despite the selloff, Alcoa trades at roughly 11 times earnings with strong long-term demand fundamentals, suggesting the market may be overly pessimistic. Alcoa Corporation (NYSE: AA) just handed investors a lesson in reading between the lines. Shares fell after the aluminum giant reported Q2 2026 earnings and trimmed its full-year outlook, partly due to a weather-related disruption at one of its Australian facilities. However, the pressure on AA didn’t start with the earnings report. The stock was down before the release, weighed down by news of the company’s 4.7 billion deal for South32's bauxite, alumina, and aluminum assets. → Sandisk: What the Chart Is Trying to Tell Us That's arguably the bigger story coming out of earnings, and it’s more bullish than the current price action shows. It reshapes Alcoa's global footprint and its investment case. That means that understanding the earnings miss requires context. The strategic pivot is the signal beyond the earnings noise. That’s a critical distinction for anyone considering buying the dip in AA. Alcoa posted second-quarter earnings per share (EPS) of $1.53, down slightly from $1.60 in the first quarter, but an increase of over 140% from the prior year. Adjusted EPS, which strips out one-time items, came in stronger at $2.12, but missed estimates for $2.25 per share. → MarketBeat Week in Review – 07/13- 07/17 Revenue climbed to $3.97 billion from $3.19 billion, driven largely by a sharp jump in realized aluminum prices. That number was also up around 31% year over year. Adjusted EBITDA excluding special items reached $901 million, up $306 million from the prior quarter. Higher metal prices contributed $331 million of that gain. Volume added another $64 million. These are the kinds of numbers that typically send a stock higher, not lower. → Has Broadcom Become Too Expensive for Its AI Story? So why the drop? Digging into the report, Alcoa’s Alumina segment EBITDA actually worsened, falling to a loss of $96 million from a $40 million loss in Q1. Production disruptions, including weather impacts on Australian operations, weighed on that segment specifically. The real catalyst for investor unease arrived before earnings, when Alcoa announced its acquisition of South32's upstream aluminum assets. The transaction adds bauxite mining, alumina refining, and aluminum smelting operations across Australia, Brazil, and South Africa. It's Alcoa's first foray into South African operations. The financial terms are substantial. Alcoa will pay $3.1 billion in cash plus roughly 17 million newly issued shares, valued at nearly $1 billion. The deal also includes $600 million in assumed net debt and a contingent value right worth up to $750 million over four years. Management frames this as a natural fit. It consolidates like assets in close proximity and leverages Alcoa's existing Australian operations. The company expects roughly $900 million in net present value synergies, including $50 million in run-rate cost savings within a year of closing. Post-close leverage is expected to hold near 2.0x, and both S&P and Moody's have already affirmed Alcoa's credit ratings on a pro forma basis. That's a meaningful vote of confidence heading into a large transaction. The deal is targeted to close in the first half of 2027. Here's where the story gets interesting from a behavioral standpoint. Markets often punish a deal like this initially before considering the potential bullish implications. Big deals introduce integration risk, financing uncertainty, and a temporary fog around near-term earnings power. Investors sold first and are still digesting the fundamentals. That uncertainty makes the reaction to a weather-related guidance cut understandable but likely overdone. AA trades at roughly 11 times earnings. That's a discount even by the standards of a cyclical, commodity-linked business like aluminum. The stock has also erased most of its 2026 gains and is trading over 43% below its consensus price target of $64.91. The earnings report points to favorable long-term fundamentals. Primary aluminum consumption outside China is projected to grow 24% by 2036. Alumina demand is expected to rise even faster, up 32% over the same span. Supply growth is coming disproportionately from higher-cost regions like Indonesia and India. The South32 assets, by contrast, expand capacity at below-average capital intensity. That's a meaningful advantage in a market where new capacity is getting more expensive to build. It also strengthens Alcoa's position as what management calls a "pure-play upstream aluminum company." Meanwhile, aluminum prices near $3,156 per metric ton have returned to levels seen before recent Middle East-related disruptions. Regional premiums in North America and Europe remain elevated, reflecting persistent supply deficits in those markets. Alcoa's order book for the year is up across all regions. This report is a reminder of what commodity investing actually feels like. Stock prices tend to be volatile. Weather disrupts operations in a material way. Guidance shifts. None of that changes the multi-year thesis for a company positioning itself ahead of industry consolidation. The near-term stock reaction reflects real uncertainty around integration and near-term production hiccups. But the valuation, the synergy math, and the demand backdrop all suggest the market may be pricing in more pessimism than the situation warrants. For patient investors, this looks less like a red flag and more like an entry point. The article "The Market Sold Alcoa After Earnings—But It May Be Missing the Real Story" was originally published by MarketBeat. View MarketBeat's top stocks for July 2026.

Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Alcoa Corporation will release its second-quarter earnings report after the closing bell on Thursday, July 16. Analysts expect the company to report quarterly earnings of $2.19 per share, up from 39 cents per share in the year-ago period. The consensus estimate for Alcoa’s quarterly revenue is $4.16 billion. It reported $3.02 billion last year, according to Benzinga Pro. Ahead of quarterly earnings, Morgan Stanley analyst Carlos De Alba downgraded Alcoa from Overweight to Equal-Weight on July 8 and lowered the price target from $79 to $53. Don’t Miss: The Average Family’s Finances Are More Complicated Than Ever. These Tools Aim To Make Them Easier To Manage. Think Your ‘Safe’ Stocks Protect You? You’re Ignoring the Real Growth Triggers — Here’s What to Add Now With the recent buzz around Alcoa, some investors may be eyeing potential gains from the company’s dividends too. As of now, Alcoa has an annual dividend yield of 0.82%, which is a quarterly dividend amount of 10 cents per share (40 cents a year). So, how can investors use its dividend yield to pocket a regular $500 per month? To earn $500 per month or $6,000 annually from dividends alone, you would need an investment of approximately $728,700 or around 15,000 shares. For a more modest $100 per month or $1,200 per year, you would need $145,740 or around 3,000 shares. To calculate: Divide the desired annual income ($6,000 or $1,200) by the dividend ($0.40 in this case). So, $6,000 / $0.40 = 15,000 ($500 per month), and $1,200 / $0.40 = 3,000 shares ($100 per month). Trending: Caught With Nothing Saved for Retirement? These 5 Game‑Changing Tips Could Still Save You Note that dividend yield can change on a rolling basis, as the dividend payment and the stock price both fluctuate over time. How that works: The dividend yield is computed by dividing the annual dividend payment by the stock’s current price. For example, if a stock pays an annual dividend of $2 and is currently priced at $50, the dividend yield would be 4% ($2/$50). However, if the stock price increases to $60, the dividend yield drops to 3.33% ($2/$60). Conversely, if the stock price falls to $40, the dividend yield rises to 5% ($2/$40). Similarly, changes in the dividend payment can impact the yield. If a company increases its dividend, the yield will also increase, provided the stock price stays the same. Conversely, if the dividend payment decreases, so will the yield. See Also: Think you’re saving enough for your kids? You might be dangerously off — see why Photo via Shutterstock Read Next: Still Learning the Market? These 50 Must-Know Terms Can Help You Catch Up Fast Building a resilient portfolio means thinking beyond a single asset or market trend. 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Alcoa Corporation AA used its second-quarter 2026 earnings call to emphasize operational execution, strategic expansion and plans to strengthen its upstream aluminum portfolio. Management highlighted record revenues, improved aluminum performance and progress on major initiatives. The call focused heavily on the South32 asset acquisition, production restarts, market conditions and the company’s outlook for the remainder of 2026. Executives also addressed investor concerns around aluminum prices, capacity additions and permitting timelines. Chief executive officer William Oplinger said the South32 transaction, referred to as AliGroup, is designed to expand Alcoa’s position across bauxite, alumina and aluminum markets. He highlighted the strategic fit of combining complementary assets with existing operations. Management identified approximately $900 million of net present value synergies, including about $50 million of annual cost savings beginning in the first year after closing. Oplinger said the deal is expected to strengthen cash generation and improve the company’s position on global cost curves. The transaction involves approximately $4.1 billion of upfront consideration plus a contingent value right of up to $750 million. Alcoa said the acquisition is expected to increase annual alumina production capacity by about 5.2 million metric tons and primary aluminum capacity by roughly 900,000 metric tons. Alcoa reported adjusted earnings per share of $2.12 compared with the Zacks Consensus Estimate of $2.33, resulting in a 9.01% negative earnings surprise. Revenues came in at $3.97 billion, above the Zacks Consensus Estimate of $3.91 billion with a 1.53% positive surprise. Alcoa price-consensus-eps-surprise-chart | Alcoa Quote The company’s aluminum segment was the main earnings driver. Management said aluminum adjusted EBITDA increased to a record $1.1 billion, supported by higher metal prices, stronger shipments and improved value-added product premiums. Chief financial officer Molly Beerman noted that aluminum revenues increased 31% sequentially to $3.3 billion as shipments rose and average realized third-party prices improved. The company also benefited from capacity restarts at San Ciprián, Alumar, Lista and Portland. Management lowered 2026 alumina production expectations to 9.5 million to 9.6 million metric tons and shipments to 11.5 million to 11.6 million metric tons. The revision was driven by operational issues at the Pinjarra refinery and natural gas disruptions caused by Cyclone Narelle. Oplinger said Pinjarra returned to stable operations after challenges related to an oxalate outbreak and gas supply interruptions. He added that the company’s confidence in the operation remained intact. For the third quarter, Alcoa expects alumina segment performance to improve by about $10 million sequentially due to recovered stability at Pinjarra and lower energy prices, partially offset by planned maintenance. Management discussed the recent decline in aluminum prices following a sharp move higher earlier in the year. Oplinger attributed the pullback primarily to market sentiment rather than a major change in underlying fundamentals. He said between 3 million and 3.5 million metric tons of aluminum capacity remained offline in the Strait of Hormuz region. The company expects market fundamentals to remain supported by constrained supply conditions. During Q&A, Wells Fargo analysts asked about China’s production levels and potential supply pressure. Oplinger said China’s output increase reflected existing capacity utilization rather than a broader shift in policy. Alcoa ended the quarter with $1.4 billion of cash and generated $422 million in free cash flow. The company also redeemed the remaining $219 million of its 2028 senior notes as part of its deleveraging efforts. Beerman said strong EBITDA generation supported cash flow despite higher working capital needs related to elevated metal prices and receivables. She noted working capital days improved sequentially. Management also discussed asset monetization plans, targeting $500 million to $1 billion through 2030. Oplinger said negotiations related to the Massena East transaction were substantially complete. Alcoa emphasized continued execution on operational stability, cost control and strategic investments. The company advanced a $65 million Mosjøen casthouse investment and a gallium production facility in Australia during the quarter. Management said labor agreements across Australia, the United States and Canada provide workforce stability for long-term operating plans. The company also continues working through mining approval processes in Australia. The call reflected management’s focus on expanding capacity, improving operational reliability and positioning the company for long-term aluminum market opportunities. AA carries a Zacks Rank #5 (Strong Sell). The Zacks Rank reflects the direction and magnitude of earnings estimate revisions and is designed to help identify stocks with stronger near-term performance potential. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. The stock has a Value Score of A, Growth Score of D, Momentum Score of F and VGM Score of C. Zacks Style Scores evaluate value, growth and momentum characteristics, with higher grades indicating stronger relative attributes. The Zacks Rank can change as analysts update earnings estimates following reported results. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Alcoa (AA) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research