Alcoa (Attractive*) reported better-than-expected Q2 earnings. Quarterly profit excluding restructuring costs and other one-time items was 18 cents a share, beating the 12-cent average of estimates compiled by Bloomberg. Second-quarter net income was 12 cents a share, compared with an 11-cent loss a year earlier. Sales were little changed from a year earlier at USD 5.84bn, compared with the USD 5.65bn forecast. The U.S. aluminum producer benefited from stronger demand in the automobile and aerospace industry as well as higher aluminum prices. For the third quarter, its earnings will rise as much as 10% from a year earlier, Alcoa said. Shares advanced 1.25 in after-hours trading.
Download LGT Navigator
More daily market views you can find in the latest PDF version of LGT Navigator: Download LGT market information