Alcoa, who is the first to release Q3 earnings, reported disappointed numbers. The EPS of $0.15 missed the target by 7 cents. Alcoa is important because its main product aluminum is widely used as one of the major raw materials in many industries. Although they are supplying a record amount of aluminum, they are at a slower pace for the quarter. The expansion in demand for this year is estimated to be 12%. The CEO forecast the need for aluminum to be doubled in 10 years.
Alcoa (AA) is down 4.17% after market now.
The market is again on light volume today, stayed from yesterday’s close level. The uncertainties in the short term are evident in Alcoa’s earnings and might be indicative of this earnings season.
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