Emma Asma Cornwall
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Emma Asma Cornwall in Gainers & Losers,

Alcoa - is everything that bad?

Alcoa Inc. released its first quarter 2016 earnings report after the close of US stock exchanges. The report showed that revenue declined 15 percent year-on-year to $4.9 billion, worse than the expected $5.2 billion. Earnings per share (EPS) beat estimates however, coming in at 7 cents versus 2 cents predicted. Alcoa's global aerospace sales targets increased to a range of 6 to 8 percent. Despite the lower prices, primary metals and alumina sales generated strong profits.

The stock slid more than 4% in Tuesday trading. Is it the end of bullish outlook for Alcoa? I wouldn't be so sure, as results weren't that bad at all. Also if we check technical picture, there's a symmertical triangle on daily chart, and today's move didn't spoil it. Correct me if I'm wrong, but I'm still bullsih...