Earnings Season Starts with Alcoa (AA)

Posted July 7, 2008

“Of course, financials will lead the charge in terms of these dire expectations, followed closely behind by consumer discretionary (which reflects the lagging confidence measures). Technology is also expected to struggle; these days management must think long and hard about investing in any major systems upgrades.” — William Patalon

by William Patalon

Baltimore – (TFN): Can it be earnings season already?

It sure is, but don’t expect too much.

With its report tomorrow (Tuesday), Alcoa Inc. (AA) leads off what is expected to be a pretty dismal series of profit reports. Thomson Reuters now estimates that second-quarter earnings declined by 11.1%, which is significantly worse than the projected 2% decline that was made back in April.

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Of course, financials will lead the charge in terms of these dire expectations, followed closely behind by consumer discretionary (which reflects the lagging confidence measures). Technology is also expected to struggle; these days management must think long and hard about investing in any major systems upgrades. Read on to learn more.

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