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The unofficial kickoff to the earnings season began on a fantastic note at the start of the month, October 7 to be precise. Shares of metal manufacturers shot higher after the aluminum giant Alcoa Inc posted a profit of $77 million, or 8 cents a share, in the quarter. The Dow Jones US Aluminum index …
The unofficial kickoff to the earnings season began on a fantastic note at the start of the month, October 7 to be precise. Shares of metal manufacturers shot higher after the aluminum giant Alcoa Inc posted a profit of $77 million, or 8 cents a share, in the quarter.
The Dow Jones US Aluminum index rallied on the Thursday that Alcoa Inc reported its unexpected quarterly profit. The index gained 3.7 per cent while Dow component Alcoa was up 3.7 per cent to $14.73.
Among the other components of the index, Kaiser Aluminum Corp added 2.5 per cent to $38.01 while Century Aluminum Co gained 9.6 per cent to $10.58. All on the same day of the results. By October 20, Kaiser gained handsomely and was trading at $41.87, while Century was marginally higher at $10.72.