Alcoa Earnings Defeat Estimates in Third Quarter

I last discussed aluminum company Alcoa AA back in July. At that time, its price was roughly around the $11 mark. Thursday, the stock closed the regular session at $12.20. During the extended-hours trading that followed, the stock rose 2.8% to $12.54 in reaction to the release of the third-quarter report. The 52-week low for the shares is $9.81, so they're comfortably above that level. It's time for long-term investors and short-term participants to decide how the stock looks now that the numbers are out. Let's first go to the one-year chart. Such a graphic doesn't make things easy, does it? The overall pullback makes the stock appear weak, but I nevertheless see an equity that wants to clear some more resistance levels if only the rest of the market will help it out. Fundamentally, I thought the Q3 report was a good one. According to MarketWatch, adjusted earnings from continuing operations calculated out to 9 cents per share; this was three pennies better than expectations. This article mentions that the near-term outlook for Alcoa may be bright in terms of demand. It also offers a chart of its own; a discouraging one, unfortunately. When compared to the performance of the S&P 500, the company fails to impress. Continue reading the article.