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."....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute — no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Subscribe Now
Click Here
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.
Take a Free trial
Click Here