Alcoa reports earnings on Wednesday after the bell. How should you game this stock as well as other names reporting this week.
The global economic slowdown took a sizable toll on the aluminum industry late last year as demand evaporated for the lightweight metal. That sent aluminum prices sharply lower and forced producers of the metal to slash production.
But aluminum prices — a key indicator of the industry's health — generally have edged up in recent months and Alcoa has boosted its annual forecast for global aluminum consumption, citing stronger demand from China.
In July, Alcoa reported its third consecutive quarterly loss, but said some markets for the metal may be stabilizing. The results beat Wall Street expectations, an outcome company executives attributed to Alcoa's efforts to slash costs and raise cash.
By The Numbers
Analysts expect Alcoa to post a third-quarter loss of 11 cents per share on revenue of $4.5 billion, according to a poll by Thomson Reuters. In the year-earlier period, Alcoa earned 33 cents per share on revenue of $7.23 billion.