When it comes to the stock market and especially earnings, it's all about expectations.
Century Aluminum CENX reported a profit last night of $5.1 million, or 5 cents per share for the second quarter. In the second quarter of 2009 the company lost $107.1 million, or $1.45 per share. Sales also rose 52% year-over-year to $287.9 million.
While these numbers look great compared to 2009, they still fell far short of analysts expectations for earnings of 25 cents a share on revenue of $292 million.
Shares are taking it on the chin today, down $1.00, or 9.48%, to $9.55. Over the last 52-weeks shares have traded between $7.12 and $18.77.
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