Alcoa Earnings

Alcoa Earnings Melt Markets

Carl Gutierrez, 04.07.09, 06:05 PM EDT
The aluminum maker came short of expectations thanks to the global downturn and dropping prices.

Alcoa kicked off the first quarter's earnings season on a mixed foot.

Eroding demand stemming from the global economic downturn and falling aluminum prices were slightly stronger than expected, leading the aluminum-maker to lose $487.0 million in the first quarter, while sales fell by 41.4%.

More at forbes.com

Europe Factors-Shares seen up; Alcoa earnings eyed

PARIS, April 7 (Reuters) - European stocks were seen edging higher on
Tuesday, following two straight sessions of losses, while investors' attention
turns to aluminium producer Alcoa (AA.N: Quote, Profile, Research), due to start the eagerly awaited U.S.
earnings season.

At 0625 GMT, futures for the DJ Euro Stoxx STXEc1, for Germany's DAX
FDXc1 and for France's CAC FCEc1 were up 0.2-0.6 percent, while financial
spreadbetters expect Britain's FTSE 100 .FTSE to open 2 to 7 points higher.

More at uk.reuters.com

US STOCKS - Wall Street falls ahead of earnings

NEW YORK, April 7 (Reuters) - U.S. stocks fell on Tuesday as investors braced for what is expected to be another dismal earnings season and fresh worries surfaced over the amount of toxic assets on bank balance sheets.

Bank shares declined after it was reported the International Monetary Fund was set to forecast toxic assets on the balance sheets of financial corporations could reach $4 trillion. For more, see [ID:nT186243]

Jitters regarding financial companies have resurfaced as investors also gird themselves for a weak round of earnings, starting with Alcoa Inc (AA.N: Quote, Profile, Research) after the close today. Alcoa shares fell 3.7 percent to $7.61 ahead of the release of their results

More at uk.reuters.com