Wednesday, October 10, 2007

Alcoa News

Found an interesting article this morning about Alcoa's weaker earnings at yesterdays close.

Wall Street on Wednesday took back a piece of Tuesday's record gains after missed estimates from blue-chip aluminum producer Alcoa Inc. and a profit warning from International Paper Co.

"We're beginning to see some negative earnings reports come out," said Peter Cardillo, chief market economist at Avalon Partners.

"Percentage-wise, I would expect more disappointments than pleasant surprises, so for the next week or so we could see this market give up 3% to 5% on slower earnings growth," Cardillo said.


Full article here.

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