Alcoa Result NaCN next roundabout - the end of a legend? The ability to predict the overall development decreases
Alcoa is unlike other large mining and processing company with diversified production often very narrowly focused on the extraction and processing of bauxite and the subsequent production of aluminum. When demand decreases, in this particular segemntu not able to compensate for any decrease in the other ingredients. Demand for aluminum is currently dampened by weaker demand major traditional customer sectors and overall overproduction.
Alcoa is based on the Dow Jones since 1959 and is now a board member with the smallest weight in this index, when it is only 0.4%. For comparison, for example, Chevron is 6.4% and 11% full IBM.
Alcoa in 2002 became the most valuable processing companies. Since then, its market capitalization fell by 74% to about 9 mld.USD.Number of large institutional investors during the past 10 years decreased by 47%. In 2002, held in their portfolios shares for 100 mill.USD and over 390 full Portfolio Manager. Currently it is only around 208th
Company threatens to Moody's corporate bond rating reduced to speculative framework.
New "litmus test" is now in the eyes of analysts such as IBM, according to the statistics, if the results exceed estimates, the entire positive earnings season in full 75% of cases.
For 1Q13 analysts generally expect profits decline by about 1.8%. at the end of January, still numbered with growth of 1.2%. Alcoy is expected from a profit of 8 cents per share versus 10 cents in 1Q12.
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