Investors are rushing into the relative safe haven of the bond market, causing the yield on the U.S. 10-year Treasury to plummet.Real Estateread more
President Donald Trump on Thursday directed the U.S. intelligence community to "quickly and fully cooperate" with Attorney General William Barr's investigation into the...Politicsread more
The U.S. Commerce Department said its proposed rule would amend the normal countervailing duty process to include new criteria for currency undervaluation.World Economyread more
Markets in Australia and Japan looked set to open slightly lower as investors worried over trade tensions between the U.S. and China.Asia Marketsread more
Wall Street is becoming convinced that both the White House and Beijing are willing to engage in a protracted trade war that could begin to hit consumers and slow global...Market Insiderread more
Stocks fell sharply on Thursday as investors started to fear the U.S.-China trade war is slowing the economy.Marketsread more
"The last thing I want is to put a date out there for lifting the grounding," said Dan Elwell, acting administrator for the FAA.Transportationread more
The charges allege he published secret documents obtained by former Army intelligence analyst Chelsea Manning, some of which included the disclosure of foreigners who were...Politicsread more
TransferWise, the money transfer start-up, was valued at $3.5 billion after investors bought $292 million of shares in a secondary sale.Technologyread more
See which stocks are posting big moves after the bell on Thursday, May 23.Market Insiderread more
Sentiment is "not negative enough to trigger a huge rally ... unless we get some kind of real breakthrough with China," Jim Cramer says.Mad Money with Jim Cramerread more
After talking with CEO Klaus Kleinfeld about the company's latest earnings, Jim Cramer is convinced that Alcoa has reinvented itself.
And although many other Wall Street pros viewed the skeptically, Cramer thought there's a lot to like.
"Alcoa delivered 9 cents of earnings per share, a 4-cent beat, despite slightly softer than expected revenues, and management also boosted its aerospace forecast for 2014, " Cramer said.
That may not sound like anything to shout about, but after digging down into the release, Cramer thinks Alcoa may have reported a breakout quarter.
"I can see the company transforming into two Alcoas. One that's not waiting for the price of aluminum to go higher but rather becoming a value added company," Cramer said.
"Our downstream business (engineered products and solutions) had a record profitable quarter, " Kleinfeld said. "Our midstream business (global rolled products), a nice value added business, almost tripled profitability from the last quarter."
"And looking at the upstream business (global primary products), we are making good strides. This is the 10th consecutive quarter of upstream improvement," he added.
Looking at the various industries that Alcoa services, "It looks like aerospace is a jewel," Cramer said.
"We're standing on multiple jewels," Kleinfeld added. "The comeback in building and construction is very good (too)."
Read more from Mad Money with Jim Cramer
Cramer goes behind Nasdaq sellof
Cramer's cheap $1000 stock
Insider insights: Cramer goes behind the solar story
All told. Cramer sees a lot to like. "The stock has moved a lot," said Cramer. "But if it comes in a little, I think it's a buy. Alcoa is exactly the kind of company that this market currently seems to favor, a cyclical player whose earnings can explode higher if we get a marked improvement in the economy."
Call Cramer: 1-800-743-CNBC
Questions for Cramer? firstname.lastname@example.org
Questions, comments, suggestions for the "Mad Money" website? email@example.com