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Stock Market Today: Why voxeljet and IMAX are on the Move

The Dow Jones Industrial Average (DJINDICES: ^DJI  ) has gained a modest six points in pre-market trading, suggesting a flat start to the stock market today. Stocks are down slightly at the kick-off of the first-quarter earnings season: the Dow is 2% lower so far in 2014, while the Nasdaq has had a rougher start, dropping by 2.3%.

Look for those numbers to start swinging as Alcoa (NYSE: AA  ) unofficially begins earnings season this afternoon. Analysts expect the former Dow component to post a 5% sales decline, to $5.55 billion, for the first quarter. Profit should come in at $0.05 a share, about half what the aluminum giant posted last year. Investors will focus on Alcoa's outlook for the full year, which could see a boost from increased aluminum demand in the auto industry as Ford and other car makers ramp up their use of the metal in new models. Look for Alcoa's report to come out shortly after 4 p.m. EDT.

Meanwhile, news is breaking this morning on several stocks that could see heavy trading in today's session, including voxeljet  (NYSE: VJET  ) and IMAX (NYSE: IMAX  ) .

Voxeljet shares were down 3.4% in pre-market trading after the 3-D printing company announced a large secondary stock offering. Voxeljet aims to raise $70 million through the issuing of additional shares, which works out to roughly 20% of the company's current market capitalization. For reference, voxeljet only carried $46 million in cash on its books as of the end of last year. The company said the extra $70 million will be used to fund research and development and to expand its service centers around the world. Still, shareholders are suffering a huge dilution of their ownership stake in exchange for a stronger balance sheet.

IMAX said today that it has sold 20% of its China business to a locally managed investment fund. But the sale wasn't done for the $80 million in cash that IMAX will gain from the deal. Instead, having Chinese ownership should allow IMAX to eventually list that business in an initial public offering, which will help fund its aggressive expansion plans in the country. Big-budget films are performing very well in China lately, and while IMAX has doubled its screen count in the country to 173 theaters since 2011, today's move only makes it more likely that that screen count will jump over the coming years. IMAX's stock was up 1.8% in pre-market trading.

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  • Report this Comment On April 14, 2014, at 3:23 PM, skyrgr17 wrote:

    What are your thoughts today? All 3D printing companies have been hammered? Pundits pump the virtues of 3-D printing and hammer them when they start to slide. GE, supposedly, has invested into the technology with big purchases but again all the real info is pump and dump info on this emerging technology. Metal, plastic, medical printing all are viable industries in the not to distance future -- if they can improve their technologies. Problem is that there is very little legitimate information on these companies. Germans are the worlds best engineers; but, give me the down and dirty comparisons between the different printers. Whose technology blows away the competition? Add in ARCAM and Stratasys to the mix of XONE, DDD, ONVO with a more private printing companies the market really seems over saturated at this point....Which companies have the financial and technological strengths to carry it into the future? Are there merger futures for some? Are there any big investors that have taken a big stack in one of these companies? Majority of info on these stocks is always highlighting the positive aspect of the company or the numbers don't match the valuation so stay away! This industry reminds me of the Telecom Co called Terrestar. Great technology but failed to deliver to its investors and customers. It's assets were worth more than the company itself; but, was allowed to file bankruptcy. A bunch of hedge fund scum bags making money off the back of small investors. Not looking for a crystal ball but expect more out of MF. Do you have a follow up given the big slide on VJET? How about the industry as a whole?

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Demitrios Kalogeropoulos

Demitrios covers consumer goods and media companies for, as well as broader moves in the economy.

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Related Tickers

8/27/2015 4:35 PM
^DJI $16654.77 Up +369.26 +2.27%
AA $8.86 Up +0.60 +7.26%
Alcoa, Inc. CAPS Rating: ****
IMAX $32.02 Up +0.74 +2.37%
Imax CAPS Rating: ****
VJET $5.75 Up +0.27 +4.93%