Alcoa 3d qtr. likely weaker: analysts

Oct 05, 2012 | 03:41 PM | Suzy Waite

Tags  Alcoa, London Metal Exchange, earnings, Tim Hayes, Davenport, Dahlman Rose, RBC Capital Markets, Credit Agricole aerospace

NEW YORK — Analysts expect Alcoa Inc. to record a weaker third quarter when the company releases its financial results Tuesday.

Despite a recent surge in the price of aluminum on the London Metal Exchange, analysts are forecasting that average per-share earnings will fall in the third quarter.

"Cash hit a bottom in mid-August of around $1,800 a tonne. Since then it’s up. But they’re going to see little of this rebound in the third quarter," Davenport & Co. analyst Tim Hayes told AMM. "Unfortunately, the price was weak for most of the quarter."....

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