Jim Cramer Is Watching Alcoa as it Posts Q2 Results Wednesday
TheStreet's Jim Cramer is keeping an eye on Alcoa (AA) as the aluminum producer kicks off earnings season with its second quarter results set to be released after the close Wednesday. Cramer says the company is not that sensitive to the dollar because its got businesses overseas and in many different places. However, he does think that aluminum has been under a lot of pressure. Cramer says he's been looking at Alcoa on a year basis, meaning that when they close this deal with RTI International Metals they're going to become a very different company. Right now, people don't want to own Alcoa because it's just a pure aluminum company but it will be much more of a higher end company by this time next year. Wall Street Analysts are expecting the company to post earnings of $0.23 per share on $5.79 billion in revenue for its second quarter. Shares of Alcoa are down about 31 percent year-to-date.
