Associated Press reported that aluminum producer Alcoa Inc launches the fourth quarter earnings season on Tuesday after the markets close.
The sluggish global economy, including slower growth in China and the debt crisis in Europe, has held down aluminum demand and prices, helping push Alcoa to a third-quarter loss and a more cautious outlook.
Two weeks ago Moody's Investor Service warned that it might downgrade Alcoa on weak pricing, which could put the company's credit in junk territory. Alcoa said it is taking steps to reduce debt and protect its investment-grade rating.
Alcoa's results get extra attention because it's the first company listed in the Dow Jones industrial average to report earnings and it makes aluminum for many industries including autos, airlines and appliances. Investors scrutinize Alcoa's numbers for hints about the health and direction of the overall economy.
Alcoa's shares fell 2% in the fourth quarter but ended 2012 nearly unchanged from where they started closing at USD 8.68, up three cents for the year.
Analysts expect earnings of 6 cents per share on revenue of USD 5.58 billion, according to a survey by FactSet.