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Alcoa (AA) falls as Q4 profit misses consensus expectations
January 19, 2023 9:46 AM ESTAlcoa (NYSE: AA) shares declined 4% Thursday after the aluminum firm missed profit expectations when it reported its fourth-quarter earnings after the close on Wednesday.
Alcoa posted a Q4 loss of $0.70 per share, $0.03 worse than the analyst estimate of a loss of $0.67 per share. Revenue came in at $2.7 billion versus the consensus estimate of $2.66 billion.
The company said it experienced challenging market conditions during the quarter, which included high costs for raw materials and energy and lower sequential pricing in the Alumina and Aluminum segments in the fourth quarter.
"Last year, global... More
Discover Financial Services (DFS) shares slide despite topping earnings expectations
January 19, 2023 8:32 AM ESTDiscover Financial Services (NYSE: DFS) shares tumbled premarket Thursday after the company reported its fourth-quarter earnings, topping analyst expectations as investor focused on the weak credit outlook.
Discover posted earnings of $3.77 per share, $0.12 above the analyst consensus estimate of $3.65. Revenue for the quarter came in at $3.73 billion versus the consensus estimate of $3.67 billion.
The company said its results were driven by record loan... More
