31 MARCH 2014www.ig.com
Alcoa set for Q1 results
Edited by : AL CIRCLE
1 min read
Alcoa disappointed traders with its fourth-quarter results but the share price has more than recovered as it prepares to reveal its first-quarter earnings on 8 April 2014.
Alcoa is trading at $11.85, up nearly 11% since the company revealed worse-than-expected fourth-quarter earnings in January 2014. The Aluminium producer reported fourth-quarter earnings per share of 4 cents and revenue of $5.59 billion, while the market consensus was for 11 cents and $5.39 billion respectively. Its fourth-quarter revenue was below the third-quarter figure of $5.77 billion.
Alcoa is trying to start afresh in 2014; it has put the bribery charges behind it and has incurred a number of write-downs over the years in relation to asset valuations. Like other companies in the mineral sector, it is adjusting to the drop in metal prices by cost-cutting and focusing on efficiency. In January, the CEO Klaus Klienfeld stated he is ‘clearing a path for Alcoa’s continued transformation in 2014’.
The stock is finding support at the 50-day moving average of $11.67. If the first-quarter results are strong, we could break the $12 mark which has proved to be difficult in recent weeks.
Alcoa is trading at $11.85, up nearly 11% since the company revealed worse-than-expected fourth-quarter earnings in January 2014. The Aluminium producer reported fourth-quarter earnings per share of 4 cents and revenue of $5.59 billion, while the market consensus was for 11 cents and $5.39 billion respectively. Its fourth-quarter revenue was below the third-quarter figure of $5.77 billion.
Alcoa is trying to start afresh in 2014; it has put the bribery charges behind it and has incurred a number of write-downs over the years in relation to asset valuations. Like other companies in the mineral sector, it is adjusting to the drop in metal prices by cost-cutting and focusing on efficiency. In January, the CEO Klaus Klienfeld stated he is ‘clearing a path for Alcoa’s continued transformation in 2014’.
The stock is finding support at the 50-day moving average of $11.67. If the first-quarter results are strong, we could break the $12 mark which has proved to be difficult in recent weeks.
Previous article
Winardi named Inalum`s president director
Next articleRusal shelves plans for aluminum smelter in Siberia
Grow with
AL Circle
