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Alcoa reported earnings, but the results didn’t give any reason to be more bullish or bearish than yesterday. EPS was in-line with estimates at $0.06. Revenue slightly beat estimates, coming in at $5.90. The consensus was for $5.60 billion. As far as guidance goes, there was an emphasis on increased global demand for aluminum. However, the majority of that demand is coming from China. As expected, Alcoa is seeing weak demand in Europe. Alcoa feels that the aerospace business should be a top performer in 2013, but there are concerns about potential cuts in defense spending. Overall, there were no real surprises for Alcoa, which should be looked at as a positive, considering analysts everywhere are calling for a weak earnings season. At the same time, Alcoa might have set the bar too high. Whatever the case may be, for companies with poor results, expect fiscal cliff and Hurricane Sandy excuses.
Let’s take a look at some more important numbers.
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