Alcoa to Release Q3 Results and 2 Dow Movers Attracting Attention
Alcoa (NYSE:AA) could free up some 63 percent in added value for shareholders if it were to break itself up, says Bloomberg. The firm is set to post its third quarter results after the United States markets close on Tuesday. Impacted by slumping aluminum prices, Alcoa has fallen around 50 percent in the past 18 months.
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Cisco Systems (NASDAQ:CSCO) is seeing huge speculation swirling around who might supplant John Chambers as chief executive and Chambers himself does not reject the potential for outside candidates. However, he sees clear advantages to an internal candidate and a number of observers believe that the recent promotions of the company’s top operations and sales executives to the level of president might mean that the chief executive shortlist is now even shorter. Chambers, who is 63, has reiterated that he will probably transition out of the chair within two to four years but hopefully will still be board chairman, “barring a surprise.” If that move is accomplished correctly, he said it will be a non-event. Comments were from an exclusive interview with CRN at Cisco’s San Jose headquarters.
Chevron Corporation (NYSE:CVX): Royal Dutch Shell (RDS.A) has chosen Fluor Corporation (NYSE:FLR) to become the engineering, procurement and construction contractor for the carbon capture facility of its flagship Carbon Capture and Storage Quest project at the Athabasca Oil Sands project in Alberta. The Quest project is being established on behalf of the Athabasca Oil Sands Project joint venture owners, which include Marathon Oil Corporation (NYSE:MRO), and Chevron, along with support from the governments of Canadian and Alberta. Fluor booked the value of the contract in the third quarter.