This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

AA: The Opening Pitch of Earnings Season

Nucor and Freeport McMoRan are performing the best from 2009. The others are largely rewarding investors with dividends and not much else. TheStreet included Alcoa as Monday's featured metals and mining loser.

The company has rising revenue year-over-year of $21.01 billion last fiscal year compared to $18.44 billion in the previous year. The bottom line has rising earnings year-over-year of $254.00 million last fiscal year compared to $-1.15 billion in the previous year.



Short interest is high for such a relatively large company. In the last short interest report, 7.6% of the float was shorted. On June 15, the reported number of shares short was 17.4 million, the largest amount reported in the last year.

Short sellers are the smart money and when they start ramping up aggressiveness it pays to keep your eye on what they are doing. Alcoa hasn't moved the needle much since the depths of 2008-09. I consider it a failure to still trade under $9 a share. It's the same reason why I estimate earnings to come in lower than the mean estimate.

This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.

At the time of publication, the author held no positions in any of the stocks mentioned.

2 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
AA $13.46 0.00%
FCX $20.67 0.00%
MT $9.59 0.00%
NUE $46.41 0.00%
X $25.42 0.00%

Markets

DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs