Market Minute: Alcoa Kicks Off Earnings Season; Investors Eye Boeing

The Fed, turmoil in Egypt, rising crude oil prices and all of the other issues we've been talking about in recent weeks, now take a back seat to corporate earnings. That and more are what's in business news Monday.

The Dow industrials (^DJI) rose 1.5 percent last week, the S&P 500 (^GPSC) gained 1.6 percent and the Nasdaq (^IXIC) jumped more than 2 percent.

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Alcoa (AA) kicks off the second-quarter earnings season after Monday's closing bell. Alcoa shares have been under pressure ever since Moody's lowered its rating on the company's debt to junk status in late May. The stock is down 10 percent so far this year.

Later in the week, we'll hear from banking giants JPMorgan Chase (JPM) and Wells Fargo (WFC).

A big boost for Dell (DELL) founder Michael Dell and his bid to take the computer maker private. The influential advisory firm ISS says shareholders should accept his $24 billion offer over a competing bid from Carl Icahn.

We're keeping an eye on Boeing (BA), builder of the 777 jet that crashed in San Francisco over the weekend. The plane has a very good safety record since it was introduced in 1995. The accident comes just as Boeing prepares to launch a new, more fuel-efficient model of the 777.

UnitedHealth Group (UNH) may be better positioned to benefit from the rollout of President Obama's health-care reform than rivals such as Aetna (AET) and Cigna (CI). According to Barron's, the stock could gain 40 percent over the next two years. Last week, UnitedHealth traded at its highest level in more than five years.

Walt Disney's (DIS) big budget film, "The Lone Ranger," turned in a disappointing performance over the five-day holiday weekend. It earned less than $50 million at the box office. The movie cost $250 million to make.

Despite the Disney disappointment, this is shaping up as a great season for the movie industry, especially theater owners such as Regal Entertainment (RGC) and Cinemark (CNK). According to, ticket sales are up 14 percent so far this year, the best gain in more than a decade.

-Produced by Drew Trachtenberg

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