Allegheny Technologies Inc
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Materials : Metals & Mining | Small Cap Blend
Company profile

Allegheny Technologies Incorporated is a manufacturer of specialty materials and complex components. The Company operates through two business segments: High Performance Materials & Components (HPMC), and Flat Rolled Products (FRP). The HPMC segment produces, converts and distributes a range of materials, including titanium and titanium-based alloys, nickel- and cobalt-based alloys and superalloys, zirconium and related alloys, including hafnium and niobium, advanced powder alloys and other specialty materials, in long product forms, such as ingot, billet, bar, rod, wire, shapes and rectangles, and seamless tubes, plus precision forgings, components and machined parts. The FRP segment produces, converts and distributes stainless steel, nickel-based alloys, specialty alloys, and titanium and titanium-based alloys, in a range of product forms, including plate, sheet, engineered strip, and Precision Rolled Strip products.

Price
Delayed
$9.37
Day's Change
0.36 (4.00%)
Bid
--
Ask
--
B/A Size
--
Day's High
9.50
Day's Low
8.83
Volume
(Average)

Today's volume of 1,102,379 shares is on pace to be in-line with ATI's 10-day average volume of 1,518,409 shares.

1,102,379

UPDATE: Tesla's debt close to investment grade after S&P upgrade

1:00 pm ET October 12, 2020 (MarketWatch)
Print

By Claudia Assis

Tesla could sell more than 800,000 cars by 2021, S&P Global Ratings says

S&P Global Ratings on Monday raised its Tesla Inc. debt ratings to BB-, from B+, leaving the Silicon Valley car maker's bonds two notches from investment grade.

"Improved execution, increasingly efficient production, and global expansion continue to strengthen the company's competitive position," S&P said.

Tesla stock (TSLA) rose 2% on Monday, and has gained 430% this year, compared with an advance around 9% for the S&P 500 index.

The debt ratings agency also cited Tesla's third-quarter deliveries (https://www.marketwatch.com/story/tesla-stock-falls-after-third-quarter-deliveries-keep-demand-concerns-alive-2020-10-02), its proxy for sales, as one of the reasons for the upgrade, and praised the production ramp of the Model Y, the compact SUV that is Tesla's latest vehicle.

"This ramp up in production was significantly faster than its initial Model 3 ramp up, which took over nine months to reach the same weekly rate," S&P said. "We expect further improvements in efficiency, cost, and technology as Tesla builds on lessons learned from prior factories."

It said it expects Tesla to deliver more than 470,000 in 2020, which would be within the company's goals for the year. Sales could reach more than 800,000 in 2021, S&P said.

-; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires

October 12, 2020 13:00 ET (17:00 GMT)

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