Alcoa Not Weighing On Aluminum Sector (AA, ACH, RS, CENX, NOR, KALU)

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By Jon C. Ogg Updated Published
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Alcoa Inc. (NYSE: AA) was the first component of the Dow Jones Industrial Average to report earnings.  Last night’s report was actually above estimates on earnings even if revenues were a tad soft.  The company is calling for growth as well in 2011 and is calling for the aluminum sector to double by 2020.  The problem is that shares were already up significantly ahead of earnings and we are seeing a “Sell The News” reaction in Alcoa.  What is interesting is that the news is actually not weighing on other aluminum players.

Aluminum Corporation Of China Limited (NYSE: ACH) is up 1.2% at $23.42.  Reliance Steel & Aluminum Co. (NYSE: RS) is up 0.3% at $53.01 on thin volume against a 52-week range of $34.58 to $55.47.  Century Aluminum Co. (NASDAQ: CENX) is actually up 0.3% at $16.60 in very thin trading versus a 52-week trading range of $8.25 to $18.77.  Noranda Aluminum Holding Corp. (NYSE: NOR) nor Kaiser Aluminum Corporation (NASDAQ: KALU) have not yet traded.

Alcoa, Inc. (NYSE: AA) shares are indicated down 1.3% at $16.27 before the open and its 52-week range is $9.81 to $17.60.

JON C. OGG

Contact [email protected] for any questions or corrections.

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About the Author Jon C. Ogg →

Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.

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