Alcoa’s ColorKast Tech Success and 4 Hot Stocks Driving News
Alcoa (NYSE:AA) reported Tuesday the initial commercial success of its ColorKast™ technology in the consumer electronics market. Due to this new technology, Alcoa can manufacture color anodizable aluminum die cast components with high-end cosmetics. The initial use of this appears on Samsung’s latest NX210 digital camera; other consumer electronics OEMs are readying to apply ColorKast™ to their products.
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First Horizon National (NYSE:FHN) announced to investors that it is assuming a charge of $272M to take care of extra costs it plans to assume by having to buy back mortgages from Freddie Mac and Fannie Mae. The bank holding company’s reserve against putbacks was only $161M as of March 31.
Staples (NASDAQ:SPLS) thinks brightly colored binders and “locker chandeliers” will be popular this coming back-to-school season. Office supply company Staples, based in Framingham, mostly serves small businesses and consumers outfitting home offices, but also benefits from students at back-to-school time.
NetApp (NASDAQ:NTAP) reported a financial model for upcoming fiscal years mostly in line with its past performance, but the storage maker did not update its guidance for the present period or year in this unreliable economy.
Melco Crown Entertainment (NASDAQ:MPEL) shares closed beneath the 200-day moving average of $11.62 on Monday. Technically, this is a marker of weakness as long as prices stay under the stock’s moving average.
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