Alcoa (NYSE:
AA) deserves a lot of credit for managing a difficult aluminum market and continuing to make productivity improvements. Unfortunately, the market doesn't reward feel-good stories. Accordingly, while Alcoa shares continue to look cheap and the long-term aluminum market
fundamentals look better, it seems probable that these shares won't really work until aluminum prices get going again.
A Pretty Strong First Quarter, Relatively Speaking
Alcoa's first
quarter wasn't great in absolute terms, but the company did do a fair bit better than expected and Wall Street is all about relative performance.
Read more here:
http://stocks.investopedia.com/stock-analysis/2012/Alcoa-Still-A-Victim-Of-Circumstance-AA-RIO-ACH-BHP0412.aspx
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