Alcoa opened the first quarter earnings season after the bell yesterday and it surprised the market on the upside. It earned $94 million, or 9c/share, during the first three months of the year. Revenues edged up slightly to $6 billion, despite of the 9% slide in aluminum prices over the course the season.Alcoa is typically the first company in the Dow to report earnings and so far it boosted investors’ confidence in corporate profits. The three major US indexes had the biggest drop yesterday since Dec of last year and we are seeing rebound in all industries today, especially in consumer, industrial and financial tickers. For more news and updates, keep it right here at the Financial News Network. I’m Julia Sun reporting from New York City.
