Alcoa's First-Quarter Profit Rises, Beats Wall Street Expectations
Alcoa kicked off earnings season Monday by reporting a larger first-quarter profit than expected, helped by strong demand for aluminum used to make airplanes and automobiles.
Alcoa kicked off earnings season Monday by reporting a larger first-quarter profit than expected, helped by strong demand for aluminum used to make airplanes and automobiles.
From an established homebuilder going public to the leading used-car retailer slamming reporting quarterly results, there is plenty of news to come this week.
As usual, Alcoa kicks off the earnings season after today's closing bell, and the strong gains of recent years are not expected to continue.
Two Arkansas residents have filed a lawsuit against ExxonMobil. They’re seeking $5 million in damages, claiming a pipeline spill has caused a permanent drop in property values.
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.
Earnings season is here, and that's not necessarily a good thing. The profitability of all S&P 500 companies is expected to post its first year-over-year decline in nearly three years. Even information technology, a perceived bright spot, is struggling (excepting Apple).
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.
S&P 500 companies have nearly completed the second-quarters earnings season, and overall, investors don't have much to complain about: More than 70% of companies have beaten earnings estimates, the index's earnings have risen more than 19% from last year, and nine of 10 sectors have given us a positive earnings surprise.
Given the market's extreme and distressing gyrations over the past week, you'd be forgiven for thinking corporate earnings had been, on the whole, disappointing. But that's not actually the case: A large majority of public companies have performed quite well.
Wall Street will watch second quarter earnings for telltale signs that the economy has slowed or that corporate margins are even tighter than is feared. But the ones reporting negative outlooks are likely to go back to the same old solution they used so often in recent years: layoffs.
Earnings season unofficially kicks off today, but 26 companies have already reported for the second quarter of this year. According to institutional data provider Capital IQ, here are some of the highlights so far:
Earnings season is near, and investors, as always are worried. Don't fret too much, though: Odds are that your company will come out on top on the bottom line -- because most do. But what will separate the winners from the whiners for the coming quarter? Here are the three key factors.
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.














