Surprise, Alcoa returns to profitability

October 8, 2009

, the USA’s biggest aluminum producer, surprised Wednesday by reporting a return to profitability in Q-3 after three consecutive quarters of losses, thanks to rising metal prices and aggressive cost-cutting. The results provided a positive start to the US earnings season from a manufacturer that is closely watched as an early indicator of industrial earnings. , reporting after markets closed in , was the 1st company in the to announce quarterly results for the three months to the end of September. Net income was US$77 M or 8 cents a share, down from US$268 M or 33 cents a share in the same period a year earlier but well ahead of analysts’ average expectations of a loss of about 10 cents per share. Revenue was US$4.6B, down from US$7.2B last year, but ahead of forecasts. Read more

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Corporate earnings will set the tone for stocks in weeks ahead

July 7, 2009

The start of Y 2009 Q-2 earnings season begins this week and may be a Key factor for determining how much faith investors will have in an economic recovery. After a rally of as much as 40% for the S&P 500 on expectations the economy will begin to turn around by year end, analysts will hone in on ’ projections to see if their hopes are corroborated. The light menu of economic data will help keep the spotlight on earnings releases, with bellwethers and posting their quarterly’s. Of even more importance will be any outlook give for what they expect to see for the rest of the year. A large auction could buoy the market if it shows there is good demand for . Concern that the appetite for is waning as the tries to fund its stimulus efforts was soothed by solid demand in last week’s record US$104B auction of Treasury securities.

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