Alcoa Tops Earnings Expectations

Well, that’s a good omen. Alcoa, the giant aluminum manufacturer, is always the first major corporation to report quarterly profits, and the company kicked off the fall earnings season Tuesday with a reassuring report. Alcoa reported a loss, thanks to a legal settlement, but revenues came in better than analysts expected. The company’s CEO said business was looking up despite the global slowdown, and that “the market has forgotten the fundamentals and sentiment dominates the pricing.”