4 stocks to watch today
April 7, 2009 8:00 am
The first quarter has come to a close and earnings season is upon us. Today marks the first official day of earnings with major reports from Alcoa (AA), Chattem (CHTT), Bed Bath & Beyond (BBBY) and Mosaic (MOS).
Mosaic and Alcoa are both facing a major headwind with commodities at rock bottom prices and deteriorating consumption. Alcoa has seen its share of decline as a worldwide miner of bauxite, producer of alumina and primary and fabricated aluminum. The Dow Jones AIG Aluminum Index has fallen from a high in July, 2008 of just over $90 to today’s value just under $40. Alcoa’s price has reflected this drop in the value of aluminum with an 82% decline in the stock during the same period. Mosaic has seen similar troubles with grain commodities as they provide fertilizer for those crops. As the prices of wheat, corn and soybeans fall farmers have less money to spend on growing or producing a more fruitful crop.
Read the entire post and our earnings estimates HERE