- Alcoa (AA -4%) tumbles near 52-week lows, with the company set to report quarterly earnings after today's closing bell.
- BMO analysts aren't getting their hopes up for today's release, saying Alcoa is in "the beginning of one of the weakest pricing environments in years" because of the lags associated with LME aluminum, regional premiums and alumina prices, which suggests the continued sharp decline in each during recent months will hurt Q2 and Q3 results.
- Other aluminum producers also are lower, as commodities are thrashed today: ACH -10.4%, CSTM -2.2%, CENX -1.5%, KALU -0.1%.
- Alcoa Q2 earnings previews: I, II