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Why Europe’s Biggest Bank Is on “RED ALERT”

Thursday, October 13, 2016 13:23
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(Before It's News) / October 12, 2016

Earnings season is off to a rough start.

Earnings season is when companies tell the world if profits grew or shrank during the previous quarter. A good earnings season can lift stocks. A bad one can drag stocks lower.

If you’ve been reading the Dispatch, you know Corporate America hasn’t had a good earnings season in nearly two years. Profits have fallen five straight quarters. That hasn’t happened since the 2008–2009 financial crisis.

Heading into the current earnings season, few investors had high hopes. According to research firm FactSet, analysts expect the S&P 500 to show a 2.1% decline in third-quarter profits. This would be the sixth straight quarter that earnings have fallen.

• Alcoa Inc. (AA) unofficially kicked off the third-quarter earnings season yesterday…

The aluminum giant whiffed on sales and earnings.

The company generated $5.21 billion in sales last quarter, which is about $10 million less than Wall Street expected. Profits came in at $0.32 per share, which was lower than the $0.35 earnings per share (EPS) analysts expected.

Yesterday, Alcoa’s stock plummeted 11.4% on the news. It was the stock’s worst day since 2011.


The post Why Europe’s Biggest Bank Is on “RED ALERT” appeared first on Silver For The People.

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