Allegheny Technologies Inc
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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.

Day's Change
0.375 (4.16%)
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Today's volume of 1,022,369 shares is on pace to be in-line with ATI's 10-day average volume of 1,518,409 shares.


'Young, dumb' traders have created a 'total nightmare' in the stock market, fund manager warns

2:19 pm ET October 15, 2020 (MarketWatch)

Shawn Langlois

At 40 times earnings, there is a 0% chance that Microsoft stock will produce wealth for someone over the next 10 years to meet their needs, analyst says

That's Cole Smead, president of Smead Capital Management, explaining in a CNBC interview Thursday ( how "young, dumb" investors have created a "total nightmare" in the current climate in terms of equity valuations.

Smead went on to say that these nosebleed valuation levels are an example of a "stock market failure" at the hands of inexperienced millennials who have gotten lured in to taking big risks in equities for the first time.

"They are buying bullish call options that expire inside two weeks. There was ($500 billion) of bullish call options bought in a four-week stretch by small retail traders," Smead said. "In '99 it was $100 billion, in '07, it was $100 billion."

In other words, we've reached next-level buying fever in U.S. stocks.

When it turns, it could get ugly, according to Smead, who said that despite the accommodative monetary policy, the Federal Reserve ultimately "can't save a stock market" -- especially one that's this top heavy.

Smead told the Wall Street Journal last ( week that, "We spend half our time right now telling people how dangerous things are."

It's not just the younger generations fault, however. Smead says boomers deserve some of the blame for riding "the index to a fault" and paying unrealistic premiums for the likes of Costco (COST) and Microsoft (MSFT) .

"Microsoft is a wonderful company," he told CNBC. "But at 40 times earnings, there is a 0% chance of that producing wealth for someone over the next 10 years that will meet their needs."

Here's a clip from the interview:

Meanwhile, stocks were bouncing off the lows of the session, but the Dow Jones Industrial Average , Nasdaq Composite and S&P 500 were all still firmly in the red Thursday afternoon.

-Shawn Langlois; 415-439-6400;

(END) Dow Jones Newswires

October 15, 2020 14:19 ET (18:19 GMT)

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