Alcoa had great revenue and TERRIBLE earnings even after all its advertised cost cutting in prior quarters. Uggg. A miss from $0.22 to $0.15 on higher revenue is probably grounds for a lawsuit. To quantify, that's a failure of about 30%! Usually you need to be 70% right just to get a passing grade. Those folks need to "get a real job."
Of course, on TV, it's all about what people are afraid of, and it's all about uncertainty in Washington... No. It is all about lousy RESULTS. No one needs to focus on fear, the RESULT is plenty good enough to dump a loser stock. Quit making excuses. We would rather have someone call in sick and not make the interview than listen to further excuses.
Guess what... commodities are down because of the euro/dollar performance - end of story. Once the Fed refused to print more $ in Sept., the US dollar is relatively high and earnings are now correspondingly low in terms of the US$. A freshman in high school can figure that out. In the US, simple arithmetic is taught in the first grade. And having the Euro on the brink of collapse doesn't help the issue(!)
Even Slovakia (spelling?) doesn't like the idea of currency manipulation. But the Euro/USD may have yet another bounce before we need to short it and all US$-traded securities.
