Alcoa sees Q2 gain of about $90 million after selling Maryland site for $100 million in cash
Alcoa Corp. said Monday it has completed the sale of its former Eastalco site in Frederick County, Maryland to a joint venture of Quantum Loophole and TPG Real Estate Partners for $100 million in cash. The company expects to book a gain of about $90 million in the second quarter. The buyers are planning to develop the site into a next-generation data center community. Alcoa shares were up 1% premarket and have gained 55% in the year to date, while the SP 500 has gained 14%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Alcoa sees Q2 gain of about $90 million after selling Maryland site for $100 million in cash
Alcoa Corp. said Monday it has completed the sale of its former Eastalco site in Frederick County, Maryland to a joint venture of Quantum Loophole and TPG Real Estate Partners for $100 million in cash. The company expects to book a gain of about $90 million in the second quarter. The buyers are planning to develop the site into a next-generation data center community. Alcoa shares were up 1% premarket and have gained 55% in the year to date, while the SP 500 has gained 14%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.