Alcoa, Inc (AA) reported inline earnings expectations tonight depending on where your numbers were at for the quarter. Alcoa Inc stock ran up to about $12.50 in afterhours which is better then the $12.20 close. However, I view Aloca stock as potentially dead money over the next 3-6 months. By early April 2011, we could see Alcoa exactly where it is today.
Aloca, Inc Earnings - 10/7/10
Alcoa Reports Third Quarter 2010 Results
Alcoa (NYSE: AA) today announced third quarter 2010 income from continuing operations of $61 million, or $0.06 per share, compared with second quarter 2010 income from continuing operations of $137 million, or $0.13 per share, and third quarter 2009 income from continuing operations of $73 million, or $0.07 per share. Third quarter 2010 results included a negative impact for special items of $35 million, or $0.03 per share, compared to a $2 million net charge for special items in the sequential quarter and a positive impact of $34 million, or $0.03 per share, in the year ago quarter.
Quarterly results were impacted by lower London Metal Exchange (LME) prices and negative currency impacts. These were partially offset by higher volumes in Alumina, Flat-Rolled Products, and Engineered Products and Solutions and the continued benefits from Alcoa’s Cash Sustainability Program. Full Release
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