Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Markets & Finance

Bear Stearns Cuts Alcan Estimates

Bear Stearns cuts Alcan (AL) estimates after the company announced fourth-quarter operating earnings per share would be down about 30% sequentially.

Analyst Anthony Rizzuto says he's surprised by the timing and magnitude of the preannouncement. He says seasonal trends, foreign exchange, and higher input costs are about equally responsible for the shortfall.

He cuts his 70 cents fourth-quarter 2004 earnings per share estimate to 50 cents, $2.55 2004 earnings per share estimate to $2.35, and $3.45 2005 earnings per share estimate to $3.25. He maintains his outperform ratintg despite expected short-term stock price weakness.

Rizzuto thinks concern over execution risk will subside following a quarterly conference call on Feb. 8. He says the company is well-positioned to benefit from continued strength in aluminum prices and a recovery in the aerospace industry.

blog comments powered by Disqus