July 14, 2012
Today, Brenton discusses the earnings reports from the past week. Alcoa reported on Monday and barely beat expectations, but its $0.06 EPS failed to impress. Its upstream business continues to suffer, but elsewhere the company seems to be doing fairly well. Overall, the company’s lack of short-term catalysts doesn't promise growth in the near future. Yesterday, JPMorgan Chase finally revealed the full extent of its trading loss, but it still managed to beat earnings expectations and spurred a market rally yesterday. The rest of the market showed some signs of wear, though, so the rest of earnings season will definitely be something to follow. With 10 Dow components reporting, there's sure to be a lot of action among blue-chip stocks next week.
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