Thursday, January 12, 2012

Ahead of the Bell: Alcoa Inc. (AP)

NEW YORK ? Alcoa Inc. will release fourth-quarter results after the markets close Monday as a slower global economy has weakened demand for aluminum.

The aluminum manufacturing giant is kicking off the first earnings season of 2012.

Its performance can reflect broader economic trends because aluminum is used in a number of industries from transportation and construction to consumer electronics.

But Europe's financial struggles and slower growth in China have slowed demand for the metal. And Alcoa said last week that it will cut smelting capacity by about 12 percent to reduce costs.

Analysts surveyed by FactSet expect earnings of 1 cent per share on revenue of $5.78 billion. That compares with net income of $258 million, or 24 cents a share, in the same quarter last year. Revenue totaled $5.65 billion.

Source: http://us.rd.yahoo.com/dailynews/rss/economy/*http%3A//news.yahoo.com/s/ap/20120109/ap_on_bi_ge/apfn_us_alcoa_ahead_of_the_bell

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