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.
Or will it disappoint? Investors -- and taxpayers -- will be watching on Thursday, when GM posts its latest earnings. Despite analyst expectations of a full-year profit, the automaker has warned that fourth-quarter results will fall "significantly" from previous periods.
The S&P 500 is a bellwether for the American economy, and with quarterly reports for more than half of the index's companies in this earnings season, S&P 500 firms are averaging a 4.5% positive earnings per share surprise, according to Capital IQ's Earnings This Week report.
The Japanese automaker's bottom line is likely to have been hit by its many safety recalls, weaker U.S. sales and Japan's rising currency. Analysts forecast Toyota will report a quarterly profit of about $1 billion on sales of $56.2 billion.
Ford shares headed down sharply after the company announced quarterly earnings 18 cents per-share lower than analyst expectations. The miss cast a shadow on the report from Ford, which posted its best annual profit in a more than decade -- $6.6 billion.
Analysts forecast that Ford will announce a profit of 48 cents a share on revenue of about $30.6 billion when it releases earnings on Friday. That translates into an expected pretax profit of $8 billion in 2010, the best Ford has seen since 1999.
Apple, BofA, Morgan Stanley, IBM, GE, Goldman and Google are among the names reporting this week. And if last week's numbers are any guide, the market should have plenty of reasons to rally -- especially because expectations aren't all that great.
Fourth-quarter 2010 earnings season ramps up this week. Analysts expect strong results from some big corporate names. And on the heels of last week's big earnings beat from JPMorgan Chase, the financial sector will have plenty more results to peruse this week.
The S&P 500 gained about 13% last year, but it didn't get much help while companies were releasing results. That index was unchanged or lower for all four of 2010's earnings seasons, and it could repeat this pattern now.
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.
Considering where the iconic carmaker has been in recent years, the pending IPO -- and robust investor demand for shares -- is a remarkably positive step. But GM still has plenty of problem spots that will need fixing if this historic event is to have lasting meaning.
With just days to go before its anticipated initial public offering of stock, General Motors reported Wednesday that it earned $2 billion in the third quarter, its most profitable this year.
General Motors Financial reported Tuesday its earnings nearly doubled in the third quarter compared to last year, aided by a drop in expenses.
When Toyota Motor reports quarterly earnings tomorrow it will give investors the latest snapshot of how big a toll massive recalls and tepid auto sales are taking on the company's bottom line.
The U.S. automaker reported a $1.7 billion profit on strong demand for its revamped line of products, despite a lackluster economy. Continued growth at its Ford Credit finance unit also helped push profits higher.
Riding high on improved demand for its vehicles, analysts expect Ford to post a record third-quarter profit of $1.37 billion tomorrow. The automaker's current third-quarter earnings record is $1.13 billion, set in 1997.


























