Alcoa No where to go but up….
Corporate Info Alcoa, Inc. 390 Park Avenue New York, New York Alcoa, Inc. is engaged in the production and management of primary aluminum, fabricated aluminum, and alumina. Its products are used worldwide in aircraft, automobiles, commercial transportation, packaging, oil and gas, defense, and industrial applications.
Net Income 2010 and There was a glut of aluminum on the market already in early Then the stock market crashed in the fall. As a result, in 2009 Alcoa lost $985 million. Alcoa’s stock lost 70%. In 2010, the company’s net income was $262 million. This was the result of increased demand. In 2011, Alcoa cut unnecessary employees, lowering labor costs. The company’s net income was $613 million as a result.
Alcoa Closing Price 3/5/12 to 3/14/12
I expect Alcoa’s net income to reach $1 billion for Demand for aluminum is expected to double by As a result, Alcoa feels prices will increase in 2012 and so will its profits. In addition, Alcoa is closing some of its smelting facilities due to a decrease current consumer demand. This will lower costs and increase profits.
Bibliography 1. Is Alcoa a Gem? By Elise Ralph - March 15, coa-gem/2818/?source=eogyholnk Elise Ralph coa-gem/2818/?source=eogyholnk Zachs Metal Research – March 15, tals+%26amp%3B+Mining+Stock+Outlook+%9 6+March+2012