Alcoa Loss Narrows as Prices Gain; Sales Trail on Sheet Demand
Original post:
No kidding.The stock is down a dime in late after-hours trade, at $14.47.The headline we went with is from 24/7 Wall Street.
Here are two headlines from different outposts of the Dow Jones empire:
Marketwatch: "Higher aluminum prices help Alcoa trim loss"
MarketBeat : "Alcoa’s Results: A Top Line Whiff"
Here's 24/7:
Alcoa, Inc. (NYSE: AA) is a stock that traders and investors alike try to use as
a proxy for earnings season for the market as a whole and for the metals sector.
Sometimes it cooperates, sometimes not. Either way, it is the first DJIA
component and the first major industrial player to report each earnings season.
The company has started this earnings season off with confusion with a report of
-$0.19 EPS and $4.9 billion in revenues. The loss from continuing operations
does include restructuring and special charges of $295 million or $0.19 EPS, so
some will count this as a positive $0.10 EPS from normalized operations. Thomson
Reuters estimates are $0.10 EPS on $5.24 billion in revenue, which was down
slightly from $0.11 EPS estimates just on Friday on slightly higher revenue
estimates....MORE
