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 | 15,112.19 | -206.04 | -1.35% |
| Nasdaq | 3,443.20 | -38.98 | -1.12% |
| S&P 500 | 1,628.93 | -22.88 | -1.39% |
| Treasuries | 2.31 | 0.13 | 5.91% |
| Company | Price | Change | % Change |
|---|---|---|---|
| Sprint Nextel Corp | 7.00 | -0.32 | -4.37% |
| Pfizer Inc | 29.10 | -0.30 | -1.02% |
| Bank of America Corp... | 13.19 | -0.08 | -0.60% |
| Micron Technology In... | 13.97 | 0.22 | 1.60% |
| General Electric Co | 23.98 | -0.35 | -1.44% |
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