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Earnings Season Will Start With Alcoa

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The aluminum giant's exposure to global manufacturing causes many to use the company's performance as a barometer for broader markets.

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MINYANVILLE ORIGINAL Alcoa Inc. (NYSE:AA) is involved in the mining, refining, smelting, fabricating, and recycling of aluminum products. The products that Alcoa produces are used in manufacturing, consumer electronics, and defense industries. Alcoa has operations in 31 countries worldwide with a market cap of $9.84 billion. The stock is currently trading around $9.23 in a 52-week range of $7.97 to $11.66. Alcoa has seen a gain of 6.59% YTD, but it is down 5.05% in the past 12 months.

Alcoa will report Q3 earnings today after market close. Analysts are expecting Alcoa to report earnings of $0.01 per share. This is down from $0.14 per share in Q3 of last year. Revenues are expected to be $5.6 billion, lower than Q3 revenues, which were $6.4 billion. Alcoa has missed consensus estimates on earnings three out of the last five quarters. The stock has sold off two of the last four reports and has an average post earnings move of 3.2%.

The Alcoa announcement will be the unofficial start of earnings season. The aluminum giant's exposure to global manufacturing causes many to use the company's performance as a barometer for broader markets. Alcoa earnings could give markets a preview of the state of global manufacturing.

My Trade: Buying the October 12 (Wkly) 9-8.5 Put Spread for $0.09
Risk: $9 per 1 lot
Reward: $41 per 1 lot
Notes: The stock sold off after beating estimates last quarter, and this trade has a great risk vs. reward setup.

No positions in stocks mentioned.
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