Wednesday, April 11, 2012


NEW YORK (AP) -- Shares of Alcoa Inc. surged more than 8 percent Wednesday after the aluminum manufacturing giant reported an unexpected first-quarter profit as it cut costs and improved productivity.

THE SPARK: Alcoa reported Tuesday after the markets closed that it earned $94 million, or 9 cents a share, in the first quarter. Analysts surveyed by FactSet had predicted a loss of 4 cents per share. Revenue rose to $6 billion from $5.95 billion. Analysts had predicted $5.77 billion.

THE BIG PICTURE: The results marked a turnaround from the $191 million loss that Alcoa reported for the fourth quarter but were 70 percent below net income of $308 million in the year-ago quarter.

The New York company's performance was driven by lower-than-expected costs and stronger demand from many customers, including automobile and aerospace industries. Alcoa and other aluminum makers are still coping with a global oversupply of aluminum and ongoing weak prices.


reality guy said...

No kiddin. Put another layer of lipstick on this pig.

Marc R said...

Now APPL, SNDK....VIX still LOW....even today it looked like gas was going to be poured then no triple digit.
I think some kinda top may be in, the ST at least. NO one in Gov't has any asnwers....and not smarter than 5th gtrader...pass the JACK...pucker up America