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Investing

Alcoa (AA) Misses A Bit, The M&A Dance Continues

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By Douglas A. McIntyre Published
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Alcoa (AA) is up 60% from its 52-week low, and rallied strongly into today’s close, moving up another 2%.

But Alcoa announced second quarter 2007 income from continuing operations of $716 million, or $0.81 per diluted share. Revenues for the quarter reached an all-time quarterly record of $8.1 billion, up from $7.9 billion in the first quarter of 2007 and $7.8 billion from a year ago.

Research firms that cover Alcoa (AA) had an average EPS forecast of 81 cents for Q2 according to Thomson Financial. Analysts polled by Thomson Financial had forecast revenue to rise to $8.34 billion.

The company also extended the expiration date of its offer to buy Alcan (AL) until August 10.

Alcoa’s shares did little and were down less than 1% after hours.

All in all, there is little in the numbers that should have any impact on the merger dance that now includes metal companies Alcoa, Alcan, BHP Billiton (BHP), and Rio Tinto (RTP).

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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