Aluminum-maker Alcoa (AA) kicked off earnings season after the bell Tuesday with better-than-expected earnings per share. The industrial-bellwether said earnings came in $0.04 ahead of Wall Street estimates. Revenue declined and just missed estimates. Alcoa, seen as an industrial bellwether also said it expects aluminum demand to pick up 7% this year. As of yesterday's closing prices, shares of Alcoa are up about 5% in the last year. But they are up more than 50% since getting kicked out of the Dow in September.
Constellation Brands (STZ) reported better-than-expected earnings before the bell. The wine and spirits company beat earnings estimates by $0.05 a share. Revenue nearly doubled and came in in-line with expectations. The parent of Robert Mondavi wine and U.S. distributor of Corona and Modelo beer has been on a tear as it continues to grow its beer business.
Watch shares of Bed, Bath and Beyond (BBBY) today ahead of its quarterly results expected after the close. Wall Street analysts forecast the retailer's sales will decline about 5% from last year. The company had a strong 2013 on the recovery in the housing market, but analysts have cut estimates for Bed, Bath and Beyond this year on concerns the company could suffer as the rebound in the economy slows.
And executives from Comcast (CMCSA) and Time Warner Cable (TWC) will appear in front of the Senate Judiciary Committee today in an effort to win approval for their proposed merger. The two companies will argue customers of the combined company will get faster Internet speeds and better cable service. Comcast, the nation's number one cable operator, has said it will shed 3 million cable customers so the combined company would have less than 30% of the U.S. cable market. A merged Comcast-Time Warner Cable would also have about one-third of the high-speed Internet market. Critics argue the combined company would have too much cable and broadband concentration.
In our poll today, we want to know what you think about the proposed Comcast-Time Warner Cable merger. Do you think a combined Time Warner Cable and Comcast will be better or worse for customers? Cast your vote and post your comments below as well.
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