Goldman Sachs Raises ALCOA Estimates Ahead of Earnings (AA)

Commodities & Metals

Published: April 7, 2008 7:43 am

ALCOA, Inc. (NYSE: AA) is seeing shares trade higher ahead of its earnings report after today’s close. Goldman Sachs appears to be the initial reason as it has raised its targets on the Aluminum giant.

For this year, Goldman Sachs raised the estimates from $1.90 to a new $2.95 EPS and for next year it raised targets from $2.90 to $3.70 EPS. Both estimates are now above consensus.

First Call has consensus earnings before the call at $2.92 EPS for this year (Dec-2008) and $3.49 EPS for fiscal Dec-2009.

This is also part of a broader aluminum call as Goldman Sachs raised 2008 aluminum targets from $1.12/pound to $1.31/pound, and 2009 aluminum targets from $1.21/pound to $1.33/pound.

First Call has this quarter estimates at $0.48 EPS for after today’s close. As a reminder, ALCOA has a mixed earnings history that is not usually indicative of the broader economy nor for metals in general.

Jon C. Ogg
April 7, 2008

Are You Still Paying With a Debit Card?

The average American spends $17,274 on debit cards a year, and it’s a HUGE mistake. First, debit cards don’t have the same fraud protections as credit cards. Once your money is gone, it’s gone. But more importantly you can actually get something back from this spending every time you swipe.

Issuers are handing out wild bonuses right now. With some you can earn up to 5% back on every purchase. That’s like getting a 5% discount on everything you buy!

Our top pick is kind of hard to imagine. Not only does it pay up to 5% back, it also includes a $200 cash back reward in the first six months, a 0% intro APR, and…. $0 annual fee. It’s quite literally free money for any one that uses a card regularly. Click here to learn more!

Flywheel Publishing has partnered with CardRatings to provide coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.