Alcoa (AA, Fortune 500) is the first Dow component to report fourth-quarter results. The company posted earnings of six cents a share, in line with expectations, while sales were $5.9 billion, ahead of the predicted $5.6 billion.
Shares rose 2% in after-hours trading.
Alcoa's results are traditionally viewed as the start of earnings season, although most companies don't report until late January and early February, and the firm isn't seen as a bellwether for the broader market.
Overall, fourth-quarter earnings for S&P 500 companies are expected to rise 3.3% from the fourth quarter of 2011, according to S&P Capital IQ.
Excluding financial stocks, however, earnings are only expected to rise 0.5%, Dan Greenhaus, chief global strategist at BTIG, wrote in a research note Tuesday. He said these muted expectations were driven in significant part by the technology sector, where a number of firms have issued weak fourth-quarter guidance.
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| Index | Last | Change | % Change |
|---|---|---|---|
| Dow | 15,387.58 | 52.30 | 0.34% |
| Nasdaq | 3,502.12 | 5.69 | 0.16% |
| S&P 500 | 1,669.16 | 2.87 | 0.17% |
| Treasuries | 1.94 | -0.02 | -1.07% |
| Company | Price | Change | % Change |
|---|---|---|---|
| Bank of America Corp... | 13.44 | -0.07 | -0.52% |
| Ford Motor Co | 14.96 | 0.00 | 0.00% |
| Microsoft Corp | 34.85 | -0.23 | -0.66% |
| Merck & Co Inc | 47.33 | 2.12 | 4.69% |
| Pfizer Inc | 28.78 | 0.08 | 0.28% |
| Overnight Avg Rate | Latest | Change | Last Week |
|---|---|---|---|
| 30 yr fixed | 3.65% | 3.65% | |
| 15 yr fixed | 2.80% | 2.78% | |
| 5/1 ARM | 2.59% | 2.60% | |
| 30 yr refi | 3.64% | 3.63% | |
| 15 yr refi | 2.79% | 2.78% |
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