Alcoa Presses London Metal Exchange for Transparency and 2 Other Dow Movers to Watch
Alcoa (NYSE:AA): Current price $8.02
The top U.S. aluminum producer is pressing the London Metal Exchange to allow more transparency into its marketplace for the metal. CEO Klaus Kleinfeld says that the current system isn’t sustainable and that the exchange’s relevance as the price-setter to both producers and users of aluminum are at stake.
Coca-Cola Co. (NYSE:KO): Current price $40.75
Blaming bad weather and stalled economic conditions for a slide in its second-quarter profit, the European independent bottler for Coca-Cola Co., Coca-Cola Enterprises Inc., reduced its forecast for 2013. The firm also cited increased competition in Great Britain and the effects of a higher tax in France for its results. Coca-Cola Enterprises currently expects sales for the full year to increase in the low single-digit range, versus its previous forecast of low- to mid-single digit growth. Beyond that, it is anticipated operating income to grow in a low- to mid-single-digit range, a forecast more pessimistic than the mid-single digit growth it previously estimated.
3M Co. (NYSE:MMM): Current price $116.56
3M has posted record results with second-quarter net sales of $7.8 billion, moving up from $7.5 billion year-over-year. The performance was thanks to organic local-currency sales growth of 2.3 percent and acquisition benefits that came to 1.9 percent. The company also reported solid organic local-currency sales growth throughout all geographic regions. Quarterly revenues surpassed the Zacks Consensus Estimate of $7.7 billion, and net income for the reported quarter stood at $1.197 billion, or $1.71 per share, versus $1.167 billion, or $1.66 per share, in the same quarter in 2012.