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Alcoa shares rose after Q3 earnings beat estimates; Rubico and others surged, while Nuburu, Jaguar Health and other stocks fell premarket.
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The Nasdaq 100 fell 1.5% at midday Friday as memory chips and AI-debt names sold off, while Fed Chair Warsh declined to rule out an October hike after hot CPI and PPI. WTI held near $96, the 10-year yield hovered around 5.1%, gold bounced toward $4,200 and bitcoin traded near $81,300.
Alcoa outlined its strategy following its $2.6 billion debt financing for the AliGroup acquisition, prioritizing debt reduction post-closing in H1 2027. The company agreed to sell its Massena East site for up to $315 million as part of a $500 million to $1 billion asset monetization program through 2030. Operational improvements drove six production records year-to-date, with sequential aluminum output increasing by 15,000 metric tons in Q3.
U.S. stocks were mixed; Ladder Capital surged after beating Q3 estimates. Alcoa and other stocks also gained, led by Strata Critical Medical’s 7.5% rise.
U.S. stock futures mixed; Truist slips after mixed results, while Telkom Indonesia, Loma Negra, Omeros and others fall premarket.
U.S. stock futures fell, with Dow futures down 450 points. Argenx sank 8.7% after a Sjögren’s trial was halted for futility; others also slid.