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.
| Index | Last | Change | % Change |
|---|---|---|---|
| Dow | 15,307.17 | -80.41 | -0.52% |
| Nasdaq | 3,463.30 | -38.82 | -1.11% |
| S&P 500 | 1,655.35 | -13.81 | -0.83% |
| Treasuries | 2.03 | 0.08 | 4.22% |
| Company | Price | Change | % Change |
|---|---|---|---|
| Bank of America Corp... | 13.31 | -0.13 | -0.97% |
| General Electric Co | 23.86 | 0.20 | 0.85% |
| Ford Motor Co | 14.97 | 0.02 | 0.13% |
| Microsoft Corp | 34.61 | -0.24 | -0.69% |
| JPMorgan Chase and C... | 53.63 | 0.61 | 1.15% |
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