Alcoa (AA ), which kicks off earnings season in a few minutes, may beat watered-down expectations, but the underlying picture likely is not strong. Kelly Evans says Alcoa may set the tone for this quarter, since its business suffered for reasons that plagued many sectors, not just materials: slowing economic growth and mounting concern about Europe’s debt woes.Alcoa (AA) shares fell 4.3% in after-market trading as the company said its growth rate should slow in the second half of the year as fears of a global slowdown persist.
Alcoa posted 15 cents of EPS, versus analysts expectations for 22 cents. The company’s $6.42 billion in revenue was in line with expectations
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