Alcoa Reports Earnings: Market Happenings For Tuesday, April 09, 2013

There are no Dow stocks at 52 week highs or lows.

The Market

The Dow is indicated to open up +12 points.

The Dow closed down Monday +48.23 (+0.33%) at 14,613.48.

Alcoa reported first quarter EPS ex-items of $0.11, beating estimates of $0.08.

Over the past 10 years, when Alcoa beat earnings estimates, the S&P 500 rose an average 4.4% during the following three months.

Mega-bank JPMorgan (JPM) is set to release quarterly results this Thursday.

European markets are higher and Asian markets ended higher.

The national average price of gasoline is down a penny to $3.583 per gallon.

Earnings Reports

Alcoa (AA) reported first quarter EPS of $0.11 vs. estimates of $0.08 and better than the $0.10 reported a year ago. However, sales were light at $5.83 billion on forecasts of $5.89 billion. Alcoa did reaffirm its global aluminum forecast of seven percent growth and noted strong demand, especially from U.S. automakers and construction companies along with falling global supplies.

AXP will report earnings on 4/17/13 after the market close.

BAC will report earnings on 4/17/13 before the market open.

GE wil report earnings 4/19/13 before the market open.

IBM will report earnings on 4/18/13 after the market close (not confirmed).

INTC will report earnings on 4/16/13 after the market close.

JNJ will report earnings on 4/16/13 before the market open.

JPM is set to report earnings on 4/11/13 before the open (not confirmed).

KO will report earnings on 4/16/13 before the market open.

MCD will report 4/19/13 before the market open.

MSFT will report earnings on 4/18/13 after the market close.

UNH will report earnings on 4/18/13 before the market open.

VZ will report earnings on 4/18/13 before the market open.

Financial Calendar

0930 ET Richmond Fed President Jeffrey Lacker speaks at annual meeting of the Global Society of Fellows in Richmond.

1000 ET Feb wholesale inventories expected +0.5% m/m and +1.5% y/y, Jan +1.2% m/m. Feb wholesale sales, Jan -0.8% m/m.

1300 ET Treasury auction of $32 billion in 3-year T-notes.

1300 ET Atlanta Fed President Dennis Lockhart delivers welcoming remarks at Atlanta Fed conference on “Maintaining Financial Stability: Holding a Tiger by the Tail.”

1315 ET Minneapolis Fed President Kocherlakota moderates a panel at the Atlanta Fed conference on “Maintaining Financial Stability: Holding a Tiger by the Tail.”

1630 ET API weekly U.S. oil statistics.

n/a Treasury Secretary Jack Lew meets German Finance Minister Schaeuble and French Finance Minister Moscovici.

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