S&P 500 2,441.20 17.28
Gold$1,224.80 $5.30
Nasdaq 6,253.81 61.92
Crude Oil $60,490.00      $-1570.00
DAILY EARNINGS

Alcoa Net Swings to Loss, IHS Net Surges


Author: Mukesh Buch
ticker.com
Last Update: 11:23 AM ET January 12 2016

12:00 PM New York Alcoa fourth-quarter net swung to a loss of $500 million. IHS fourth-quarter net soared 50% to $91 million. Team second-quarter net tumbled 34% to $12 million. VOXX International third-quarter net plunged 50% to $8 million.

Tollbooth Index jumped 98.99 or 0.9% to 10,279.10.

Earnings Review

Alcoa Inc (AA), the aluminium producer reported revenues in the fourth-quarter ending in December soared 7% from a year ago to $5.2 billion.

Net in the quarter swung to a loss of $500 million or 39 cents per diluted share compared to profit of $159 million or 11 cents per share from the same quarter last year.

Alcoa estimated global aluminium deficit of 1.2 million metric tons and global deficit of 2.8 million metric tons due to curtailments.

The aluminium producer also projected global aluminium demand in 2016 to jump 6% to 60.5 million metric tons from fiscal 2015 and total demand to double between 2010 and 2020.

IHS Inc (IHS), the analytical information provider reported revenues in the fourth-quarter ending in November jumped 3% from a year ago to $555.7 million.

Net income in the quarter soared 50% to $90.5 million or $1.32 per diluted share compared to $60.1 million or 87 cents per share from the same quarter last year.

The company forecasted revenues in the year in the range of $2.30 billion to $2.38 billion and diluted earnings per share between $6 and $6.30.

Team, Inc (TISI), the specialty industrial services provider said revenues in the second-quarter ending in November soared 17% from a year ago to $280.9 million.

Net income in the quarter tumbled 33.9% to $11.5 million or 54 cents per diluted share compared to $17.4 million or 80 cents per share from the same quarter last year.

VOXX International Corporation (VOXX), the automobile parts and accessories maker stated revenues in the third-quarter ending in November declined 13.8% from a year ago to $192.5 million.

Net income in the quarter plunged 50% to $7.8 million or 32 cents per diluted share compared to $15.6 million or 64 cents per share from the same quarter last year.
  1
Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc