Aluminum maker Alcoa Inc. (NYSE/AA) reported its earnings results on Monday, officially kicking off the first-quarter earnings season. While some in the media touted the fact that Alcoa beat earnings estimates, in reality, it's nothing to get excited about. The stock market looks to be agreeing with me, as Alcoa was under some selling pressure after it reported.
Alcoa remains a key global company, but it probably doesn't carry the weight it used to have on the market. However, the company does still offer some insight into the global economy.
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The company only managed to narrowly beat earnings-per-share (NYSEARCA:EPS) estimates, reporting adjusted earnings of $0.11 per diluted share, above the Thomson Financial consensus estimate of $0.08.