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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: Johnny Canuck who wrote (47704)	4/10/2012 11:45:42 PM
From: Johnny Canuck	Read Replies (1) \| Respond to of 69822

Alcoa surprises Wall Street with first-quarter profit Reuters – 4 hours ago People leave the Alcoa Business Services Center in Pittsburgh, Pennsylvania in this February 13, 2007 file photograph. Alcoa Inc, the largest U.S. aluminum producer, reported a first-quarter profit that topped Wall Street forecasts as prices for aluminum rose in the early months of 2012. Alcoa shares rose 6 percent to $9.80 in post-market trading. REUTERS/Jason Cohn/Files By Steve James NEW YORK (Reuters) - Aluminum producer Alcoa Inc surprised Wall Street with a first-quarter profit after a loss in the fourth quarter of 2011 as global markets improved, especially in the aerospace and automobile sectors. The results, which beat analysts' forecast for a loss, sent the company's stock up 6 percent to $9.80 in after-hours trading on the New York Stock Exchange. "We pretty much see growth in all global end markets," Chief Executive Officer Klaus Kleinfeld told analysts on a conference call. "On aerospace, the market goes from strength to strength." He said demand for aluminum in North America was strong in most industrial sectors except for building and construction. "China, (there is) growth across all segments. A little softer but still good, good growth. The markets in Europe are hovering along," he said. Alcoa, which makes aluminum for aircraft, cars and beverage cans, raised its 2012 global growth forecast for the aerospace market by 3 percentage points to 13-14 percent and said it expects global growth in the auto industry of 3-7 percent. The company also projects a global aluminum supply deficit in 2012 and reaffirmed its forecast that global aluminum demand would grow 7 percent in 2012, on top of the 10 percent growth seen in 2011. finance.yahoo.com