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Stephen Rosenman
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I enjoy analyzing the financial health of companies and pointing out areas the market is either not recognizing or ignoring. A long time investor, I put my money where my mouth is. That's why I'm passionate about my positions. I trumpet companies I believe in and back my articles up with data... More
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Stephen Rosenman
  • Alcoa's Aluminum Penny 0 comments
    Jan 11, 2010 6:33 PM | about stocks: AA
      Alcoa came in at nonGAAP $0.01, five cents worse than expected.   Disappointing to say the least.  Especially when whisper numbers were as high as $0.10. (247wallst.com/2010/01/11/alcoa-making-bad-news-sound-good-aa/)  But who cares about the past.  The real question is where will earnings be in the future?

     Rather than delve into AA's report to figure out where earnings will be in another 6 months,  it's simpler to look at aluminum LME stores.  Aluminum stores are almost 5 times what they were 5 years ago. Yet, aluminum pricing is largely the same as 5 years ago, a seeming disconnect from reality. With aluminum in glut mode, you've got to wonder where AA's next penny will come from.



     <a:>



    Disclosure: no position
    Stocks: AA
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