Two Stocks Making Waves in After Hours Action

1) Dow Jones component Alcoa (NYSE:AA) reported its second quarter earnings after the closing bell this afternoon, in a highly anticipated start to the new earnings season. The company’s stock is up .57% after hours following a slip of -2.87% on the day. Alcoa reported a second-quarter profit of $322 million, EPS of $.28/share, up from $136 million, or $.13/share, a year earlier. Total EPS, excluding charges, came in at $.32/share, a penny short of analyst targets of $.33/share, while revenues, up to $6.59 billion from $5.19 billion a year ago, exceeded expectations of $6.28 billion. CEO Klaus Kleinfield commented, “Although the economic recovery is uneven, the overall outlook for Alcoa – and for aluminum – remains positive.” Don’t Miss: Your Cheat Sheet to Alcoa Earnings.

2) Novellus Systems (NASDAQ:NVLS) stock is getting dumped quickly by investors after hours, down -2.57% on news that the company fell short of second quarter revenue expectations. The semiconductor and chip-maker actually topped consensus EPS estimates of $.76/share, posting quarterly earnings of $.79 per share, though revenues fell short of a $352 million dollar target. Notably, bookings (down 25%) and shipments (down 5%) also contributed to investors’ wariness. Don’t Miss: Your Cheat Sheet to Novellus Earnings.