Alcoa Swings Higher Ahead of Earnings

[Stocks-to-Watch]

Alcoa (AA) is expected to post a 2-cent loss when it releases fourth quarter earnings results after the closing bell today, but the stock has been riding some momentum this morning. Shares rose 2.3% in a flat market.

Investors may be getting optimistic about the earnings release or they could be warming to the company’s plan to cut smelting capacity. In addition Barron’s published a bullish story about the company this weekend (“Alcoa on the Runway”), with Associate Editor Andrew Bary writing that the stock could rebound this year as aluminum prices may have already bottomed. Aluminum prices fell 20% in the second half of 2011.



Original Article Source by Barrons.com