World stock markets rose Wednesday after the fourth-quarter earnings season got off to a positive start in the U.S. with aluminum giant Alcoa forecasting higher demand for 2013. Demand for aluminum has been hurt by the weak global economy, but Alcoa predicted a 7 percent increase in demand this year, slightly better than the 6 percent increase in 2012.
Aluminum manufacturer Alcoa says it lost $143 million in the third quarter due to charges, but otherwise topped Wall Street's expectations. The loss amounted to 13 cents per share.
As the market breathes a sigh of relief on hopes that Europe isn't going to fall apart and the unemployment picture isn't getting worse, the focus shifts to China and earnings season. But earnings may be overshadowed if inflation data out of China is worse than expected, now that the country has the world's second largest economy.
After a wild third quarter, the market seems to have stabilized a bit this week, in spite of a late Friday drop. With little macro-data news, investors turned their focus to Europe's debt crisis and third-quarter earnings season. Company-specific news drove stocks; here's a closer look at some of the S&P 500's most notable movers.
Earnings season has officially kicked into high gear: 39 companies have reported so far, with the S&P reporting an earnings per share surprise of 6.8%. The best results include increases in financials, consumer discretionary, and materials. Here are some highlights.
The aluminum giant turned a first-quarter profit on stronger sales at higher prices that were offset by a weaker dollar and higher costs for energy and raw materials.
Alcoa, Intel and JPMorgan Chase will kick off a new earnings season this week when they report their results for the fourth quarter of 2010. Here's what analysts surveyed by Thomson Reuters expect, followed by a glance at what's coming up on the economic calendar.
The aluminum giant matched Wall Street's profit expectations and exceeded the revenue estimates. Company execs say they see demand picking up as the year progresses. Alcoa shares jumped in after-hours trading.
Alcoa, Marriott and Yum! Brands to kick off the third-quarter earnings season with modest earnings growth, while jobs numbers could be mixed.
Aluminum giant Alcoa trimmed its first-quarter loss, helped by higher aluminum prices. The Dow component, which unofficially kicked off earnings season after Monday's closing bell, managed to match Street estimates on the bottom line even as sales came up short.
