Latest Developments: Groupon Inc (NASDAQ:GRPN), Genworth Financial Inc(NYSE:GNW), Alcoa Inc (NYSE:AA)
Lakeway, NY — (MARKET NEWS CALL) — 10/10/2013 — Specialpennystockalert.com, an investment community with a special focus on updating investors with recent news on the U.S. stock market about the small and penny stocks, issues news alert on Alcoa Inc (NYSE:AA), Groupon Inc (NASDAQ:GRPN), Genworth Financial Inc(NYSE:GNW)
Alcoa Inc (NYSE:AA) shares gained 1.98% to $8.26. The company on Oct. 8 reported a sequential and year-over-year increase in third quarter profit for 2013 driven by strong operating performance and productivity gains, in spite of lower metal prices. Alcoa reported third quarter 2013 net income of $24 million, or $0.02 per share, which includes $96 million of special items primarily tied to optimizing the Company’s upstream portfolio. Adjusted net income was $120 million, or $0.11 per share. The Company reported third quarter 2013 revenue of $5.8 billion, steady compared to second quarter 2013 and the year ago period, despite a 3 percent sequential and 7 percent year-over-year decline in the London Metal Exchange (LME) cash price of aluminum.
Groupon Inc (NASDAQ:GRPN) stock gained 4.68% to $10.74. The company on Oct. 3 announced the appointment of four new executives: Robbie Schwietzer to Senior Vice President of Operations, Lisa Kennedy to Vice President, General Manager, of Groupon Reserve, David Kerr, Vice President, General Manager, of Home Services, and Hoke Horne, Vice President of Global Commercial Finance.
Additionally, Barrington on Oct. 7 upgraded Groupon with a $14 price target citing the company’s new business plan and management. The firm believes Groupon’s growth is poised to reaccelerate.
Genworth Financial Inc(NYSE:GNW)shares increased 1.30% to $12.86. GNW and its wholly owned subsidiary Genworth Holdings, Inc., on Sept. 26 announced the entrance into a credit agreement that provides Genworth Holdings, Inc. with a three-year $300 million, multicurrency revolving credit facility, with a $100 million sublimit for letters of credit. The proceeds of the loans may be used for working capital and general corporate purposes. The obligations under the credit agreement are unsecured and payment of Genworth Holdings, Inc.’s obligations is fully and unconditionally guaranteed by Genworth Financial, Inc.
Additionally, the company announced it would issue its earnings release and financial supplement containing third quarter results after the market closes on October 29, 2013.
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Tags: Alcoa Inc (NYSE:AA), Genworth Financial Inc(NYSE:GNW), Groupon Inc (NASDAQ:GRPN)