Alcoa 3d qtr. likely weaker: analysts
Oct 05, 2012 | 03:41 PM
| Suzy Waite
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 its up. But theyre 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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