July 9 (Bloomberg) -- Alcoa Inc., the largest U.S. aluminum producer, expects government economic-stimulus spending in China and the U.S. to boost metal demand enough to help the company start generating cash again. Chinaâs measures have spurred infrastructure projects and boosted consumer spending, pushing domestic aluminum demand beyond supply for the first time since the global recession forced metal producers to curtail output, Chief Executive Officer Klaus Kleinfeld said yesterday. âOne of things that the Chinese government very smartly does these days is that they are stimulating people that itâs good to not have too much savings and to buy new cars and get a new air-conditioner,â Kleinfeld said on a call with analysts. Alcoa, the first company in the Dow Jones Industrial Average to announce results for the three months through June, yesterday reported a second-quarter loss excluding certain items of 26 cents a share. That was smaller than analystsâ average estimate in a Bloomberg survey for a 38-cent loss. The company will be âfree cash flow positive very soon,â Chief Financial Officer Charles McLane said on yesterdayâs call. The loss was New York-based Alcoaâs third straight, the first time that has happened since 1992 Alcoa rose 38 cents, or 4 percent, to $9.84 at 7:59 p.m. in trading after the official close of the New York Stock Exchange. The shares declined 16 percent this year through the close of regular U.S. trading on July 8. The Chinese government is spending 4 trillion yuan ($585 billion) to stimulate its economy, the worldâs third-largest. http://www.bloomberg.com/apps/news?pid=20601087&sid=aemeBEgDZHP4 Management made in Germany. Long Alcoa
This is the kind of drivel companies spew out during earnings. Let's face it, most companies have no real earnings these days, only a future forecast of earnings... which is total nonsense. You'll also hear many companies who will "beat the street by a penny"... more BS.
Unfortunately their biggest customers are making airplanes and cars . . . and not very many these days.
Wall st. today is reminiscent of all the dot.com companies in the late 90's. They all had some b.s. headline statement about future growth, future earnings, "eyeballs", "pagehits", etc., etc. Anything to distract you from the horrendous top and bottom lines.
I am just waiting for some short covering rally : Alcoa Inc $ 9.23 AA -0.23 Short Interest (Shares Short) 75,189,300 Days To Cover (Short Interest Ratio) 1.6 Short Percent of Float 7.83 % Short Interest - Prior 74,033,200 Short % Increase / Decrease 1.56 % Short Squeeze Ranking⢠-9 % From 52-Wk High ($ 35.66 ) -286.35 % % From 52-Wk Low ($ 4.97 ) 46.15 % % From 200-Day MA ($ 8.77 ) 4.98 % % From 50-Day MA ($ 10.25 ) -11.05 % Price % Change (52-Week) -70.70 % Shares Float 960,380,000 Total Shares Outstanding 974,276,387 % Owned by Insiders 0.30 % % Owned by Institutions 69.40 % Market Cap. $ 8,992,571,052 Trading Volume - Today 92,759,332 Trading Volume - Average 46,295,600 Trading Volume - Today vs. Average 200.36 % Earnings Per Share -1.07 PE Ratio Record Date 2009-JunB Sector Basic Materials Industry Aluminum Exchange NY